CHINA: BEFORE THE OPEN, 10Jun2013

May economic data dominates the headlines this morning. Data across the board is slightly worst than expecting throwing shadows on 2013 growth. CPI, PPI, Imports, Exports, New Loans, Car Sales and Fiscal Revenue all released for May. President Xi Jinping wrapped up his California summit with President Obama and China’s first lady was not impressed getting snubbed by Michelle. Here’s what you need to know before the open. Happy Monday!

China’s cotton pricing hurting textiles

China has jacked up the domestic price of cotton to 20,400 yuan (US$3,325) per tonne as of May 13, 4,500 yuan (US$730) higher than the international price, reports Shanghai’s First Financial Daily. Read More, Want China Times