HONG KONG -- Hong Kong's economy remains in the doldrums, but there are some green shoots in Q3 data and, even more so, October data, Natixis says in a market update, reflecting that prospects for the economy is likely to become brighter if the government can better bring COVID-19 under control and gradually reopen the border with mainland China.
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HONG KONG -- The introduction of a digital currency in China could cut transaction costs, lowering fee revenue for payment service intermediaries, according to ratings agency Standard and Poors. It says that as the first G-20 country to trial a digital currency, China's success or failures could offer lessons to other aspiring nations.
SHANGHAI -- Major economic activity data continued to improve in China in October, with ANZ Bank saying the figures reinforce its belief that China's GDP will expand above 5.5% y/y in Q4. "Consumption growth is particularly encouraging," ANZ says.
BANGKOK--Thailand's economy improved more than expected in Q3, with GDP rising from minus 12.2% in Q2 to minus 6.4%. The turnaround was broad-based, except for tourism. Notably, final domestic demand in Q3 more than recouped its losses recorded in Q2.