26 March 2017

Macro Economy

  • Rising interbank rates keep Chinese equities in check. Photo: Reuters

    Why China equities are stuck in a range

    - Mar 24, 2017 4:47pm
    The Shanghai Composite Index has been hovering around 3,200 points for more than a month, with the overall turnover of the Shanghai and Shenzhen bourses at about 500 billion yuan (US$72.53 billion) most of the time....
  • Taiwan's stimulus program has the potential to create around 40,000 to 50,000 jobs, the cabinet said. Photo: Xinhua

    Taiwan unveils US$29 bln package to boost economy

    Mar 24, 2017 8:05am
    Taiwan has unveiled a NT$882.4 billion (US$29 billion) stimulus package to boost its export-driven economy in the face of uncertainty from its two largest trading partners, the United States and China. The stimulus plan will be...
  • US Treasury Secretary Steven Mnuchin has asked the International Monetary Fund for a “frank and candid analysis” of member countries’ exchange-rate policies to determine whether China is a currency manipulator. Photo: Reuters

    Mnuchin’s mission

    - Mar 23, 2017 10:39am
    US Treasury Secretary Steven Mnuchin is hemmed in on all sides. Domestically, he is trapped between the promises he has made (such as the “Mnuchin rule” that taxes wouldn’t be cut for the rich), the actions...
  • The bond connect program extends the capital market links with China and would further cement Hong Kong’s status as China’s major offshore renminbi hub and offshore financial center. Photo: Reuters

    Why bond connect sheme is important to Hong Kong

    - Mar 20, 2017 4:43pm
    China will allow foreign investors to buy onshore bonds via Hong Kong this year, Premier Li Keqiang said at a press conference in Beijing after the close of the annual National People’s Congress. The bond connect...
  • An aerial view of a golf course used as the site of am anti-missile defense system in Seongju in North Gyeongsang Province, South Korea. Photo: AFP

    South Korea complains to WTO over China’s THAAD response

    Mar 20, 2017 3:40pm
    Seoul has complained to the World Trade Organization (WTO) about China’s retaliation against South Korean companies over the deployment of a US anti-missile defense system in the South. “We have notified the WTO that China may...
  • Through a combination of inventory de-stocking, stimulation of private consumption and more infrastructure spending, China managed to reverse the economic downturn last year. Photo: Reuters

    China macro outlook improving

    - Mar 20, 2017 11:07am
    China is aiming to expand its economy by about 6.5 percent in 2017 compared with the goal of 6.5 to 7 percent last year. But it is noteworthy that the target refers to real gross domestic...
  • Brazil's President Michel Temer, accompanied by several ambassadors from meat-importing nations, partakes of barbecue at a steakhouse in Brasilia on Sunday. Photo: Reuters

    Brazil president seeks to calm health fears over beef exports

    Mar 20, 2017 8:27am
    President Michel Temer, confronting a corruption scandal tarnishing Brazil’s lucrative meat industry, met with executives and foreign diplomats to assuage their health concerns over a sector responsible for US$12 billion in annual exports. The hastily called...
  • The Trump administration has no desire to get into trade wars, but wants certain issues to be re-examined, says Steven Mnuchin. Photo: Bloomberg

    Trump doesn’t want trade wars; just seeks fair deals: Mnuchin

    Mar 17, 2017 8:09am
    The Trump administration doesn’t wish to get into trade wars, but it feels certain things need to be re-examined to ensure a better deal for American workers, US Treasury Secretary Steven Mnuchin said on Thursday. At...
  • China's President Xi Jinping (left) and Saudi Arabia's King Salman bin Abdulaziz Al-Saud attend an event at the National Museum in Beijing on Thursday. Photo: Reuters

    China, Saudi Arabia eye US$65 billion in deals

    Mar 17, 2017 8:08am
    Saudi Arabia’s King Salman oversaw the signing of deals worth as much as US$65 billion on the first day of a visit to Beijing on Thursday. The deals included a memorandum of understanding (MoU) between giant...
  • Federal Reserve Chair Janet Yellen speaks during a news conference in Washington DC Wednesday after a two-day policy meeting. Photo: Reuters

    Fed raises rates amid improved US economic outlook

    Mar 16, 2017 8:05am
    The US Federal Reserve raised its benchmark interest rate for the second time in three months amid increased confidence over the prospects of the world’s largest economy. In a widely expected move, the central bank on...
  • Premier Li Keqiang has signalled that the government will speed up tackling bad loans. Photo: Xinhua

    Eight key points in Premier Li’s government work report

    - Mar 13, 2017 3:43pm
    Chinese Premier Li Keqiang mentioned bad loans and credit defaults in the government work report. It seems that the central government is poised to accelerate tackling bad loans. Chinese banks have been grappling with rising non-performing...
  • Japan has posted four straight quarters of GDP growth. "Abenomics" appears to be working. Photo: Bloomberg

    Japan’s brightening outlook likely to win Abe another term

    - Mar 10, 2017 6:13pm
    Japan has posted four straight quarters of GDP growth six years after the devastating earthquake and tsunami of March 2011. The government has turned deflation into inflation, and corporate earnings are improving. There are also signs...
  • China’s stronger imports will fuel optimism that demand is picking up in the world’s second largest economy. Photo: Bloomberg

    China posts first trade deficit in three years as imports surge

    Mar 9, 2017 8:54am
    China posted its first trade deficit in three years last month as imports surged more than expected amid stronger global commodity prices and exports fell slightly. According to figures released by the Customs bureau Wednesday, imports...
  • Gary Cohn, head of President Donald Trump’s National Economic Council, suggests banks’ capital requirements be reduced in order to boost the economy.Photo: Reuters

    How the next financial disaster will strike

    - Mar 1, 2017 10:25am
    In early 2007, the worst financial crisis in almost 80 years began to unfold, coming to a head 18 months later with the collapse of Lehman Brothers and shock waves felt around the world. Desperate government...
  • The State Administration of Foreign Exchange seeks to curb capital flight to support the weakening yuan. Photo: Reuters

    China FX regulator strengthens supervision of forex market

    Feb 27, 2017 11:53am
    China’s FX regulator said on Monday it will strengthen supervision of the foreign exchange market in 2017, while improving policy transparency and promoting the further opening of financial markets. Authorities have taken a raft of steps...
  • The people's Bank of China has completed trial runs of its digital currency. Photo: Bloomberg

    PBoC steps up efforts for launch of digital currency

    Feb 24, 2017 9:16am
    The People’s Bank of China (PBoC) has done trial runs of its prototype cryptocurrency, taking the central bank a step closer to issuing digital money that can be used for all sorts of transactions. If things...
  • The US Federal Reserve is laying the groundwork for another hike in short-term borrowing costs. Photo: Bloomberg

    Fed officials see rate hike ‘fairly soon’

    Feb 23, 2017 8:46am
    Federal Reserve officials expect another hike in the US benchmark interest rate “fairly soon” due to an improving economy and anticipated inflationary pressures. According to minutes released Wednesday from the central bank’s last policy meeting, some officials...
  • Financial Secretary Paul Chan expects Hong Kong economy to expand 2-3 percent in 2017. Photo: HKEJ

    Financial Secretary Paul Chan sees slight pickup of GDP growth

    - Feb 22, 2017 1:19pm
    After a weak start, Hong Kong’s economy gradually improved over the course of 2016 and eventually closed the year with a 1.7 percent gross domestic product growth. On the back of the recovering trend, Financial Secretary...
  • The ‘big crocodiles' will not be allowed to suck the blood out of small investors, proclaims Liu Shiyu, chairman of the China Securities Regulatory Commission. Photo: Sohu

    CSRC’s Liu wants to take on the ‘big crocodiles’

    - Feb 21, 2017 11:31am
    Liu Shiyu, chairman of the China Securities Regulatory Commission (CSRC), is known for being outspoken. Previously, he called insurers engaged in leveraged buyouts using inappropriate funds “barbarians” and “evil monsters”. Now he is declaring war on...
  • Railway ventures, including high-speed rail projects and urban transit initiatives, will be a key focus of infrastructure spending in China this year. Photo: China Daily

    China needs more private capital in fixed-asset investment push

    - Feb 20, 2017 4:12pm
    China has seen various local governments unveil their economic growth targets in recent weeks. Among those that made their plans public, 11 provinces have aimed for a slower expansion pace this year while six have set...

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