2012.05.10 05:53:40 MARKET TALK:Weak Philippine Data Won't Prompt New Policy-Barclays

0355 GMT [Dow Jones] Goldman Sachs economist Yu Song says China's weak imports growth doesn't necessarily show very weak domestic demand, as it is mainly due to declining commodities prices and destocking inventory cycle. Song says the exports growth, albeit slower than expected, is within the normal level. The latest trade data may prompt a modest renminbi appreciation, Song says. China's trade surplus widened to $18.4 billion in April from $5.35 billion in March. Exports rose 4.9% in April from a year earlier, missing economist expectations for an 8.5% increase. Exports rose 8.9% in March. Imports rose 0.3%, much lower than economist expectations for a 10.0% rise and March's 5.3% increase. (grace.zhu@dowjones.com) Contact us in Singapore. 65 64154 140; MarketTalk@dowjones.com (END) Dow Jones Newswires May 09, 2012 23:55 ET (03:55 GMT)