1) China GDP disappointed at 4.9% growth in 3Q21
China’s gross domestic product grew 4.9% in the third quarter of 2021 from a year ago, according to the report of the National Bureau of Statistics on Monday. The growth missed expectations for a 5.2% expansion by analysts. Meanwhile, retail sales rose 4.4% in September, beating expectations of 3.3% growth.
2) PBOC says most property developers are stable amid Evergrande crisis
China’s central bank reassured that most real estate developers are financially stable, and the Evergrande case that continues to miss coupon payments is a unique one. However, the central bank said that the risks posed by Evergrande are controllable.
3) U.S. to allow international inbound starting Nov. 8
The U.S. will allow fully-vaccinated international travellers for Covid-19 vaccine to enter the country starting November 8, 2021. The restriction was posed on most non-U.S. citizens who had recently been in Europe, Brazil, South Africa and other countries from entering the country.
4) Oil prices continue to climb
Oil prices rose to $85.58 per barrel in early trading session on Monday as demand from Covid-19 recovery continues to climb amid tight demand. The international benchmark Brent crude rose 0.84% to $85.58 per barrel, while WTI gained 1.26% to $83.32 a barrel.