The General Administration of Customs announced that exports and imports for April fell 1.8% yoy and 10.9% yoy in US dollar terms. Both were worse than consensus estimates, and a reversal of figures from March indicated a tentative revival in both externaland domestic demand.
Wildfires in Alberta, Canada threaten supply of oil sands and it has shut half the country’s vast oil sands capacity. Crude oil prices rallied, and it is estimated that oil-related sectors would likely to follow.
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