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Asia-Pacific forecasts stabilise, risks now balanced, says report

December 1, 2020

SINGAPORE - S&P Global Ratings says that economic trajectories for Asia-Pacific are stabilising. It expects Asia-Pacific GDP to shrink about 2% in 2020 and to grow by 6.8% in 2021, close to previous S&P forecasts at the end of the third quarter. "Uncertainty remains unusually high, but little in the past three months has led to large revisions to our views," S&P says.

Australian Q3 GDP preview: ANZ tips +3.0% q/q

December 1, 2020

MELBOURNE - After the release of key partial indicators this week, ANZ Bank says it expects Australia's GDP to have bounced 3.0% q/q in Q3. This would leave GDP 3.9% below year-ago levels. "Consistent with the run of better-than-expected partial economic indicators, the forecast bounce in Q3 GDP is larger than we had anticipated a few months ago," ANZ says. (ATI).

Malaysia stepping cautiously towards consolidation in difficult times

November 9, 2020

KUALA LUMPUR -- Malaysia's 2021 budget proposal reflects a first cautious step toward fiscal consolidation. following a deficit estimated at 6% of GDP in 2020, according to ratings agency Standard and Poor's. "Nevertheless, against a tide of economic uncertainty and continued revenue weakness, Malaysia faces enduring pressure on its fiscal and debt settings," S&P says.

Focus on technology as China pursues “socialist modernisation”

November 11, 2020

BEIJING --  Technological advancement is the new focus of China's 2021-2025 Five-year Plan, says the global financial group, BBVA, in a summary paper of the Fifth Plenum of 19th Chinese Communist Party's Central Committee. "As we expected, the Five-year Plan does not mention an explicit growth target figure for the next five years, BBVA says.

Green shoots in Hong Kong economy as financial, trade sectors lift

November 17, 2020

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.

Household consumption, exports drive Malaysia’s GDP recovery

November 13, 2020

KUALA LUMPUR - Malaysia's GDP growth for the third quarter of 2020 has improved to minus 2.72% -- from minus 17.1% in the second quarter. The improvement was driven mainly by household consumption and exports. ANZ Bank says the impressive performance notwithstanding, it is mindful of lingering challenges -- the recent tightening of local social containment measures, the new wave of infections in Europe and the US, and still weak discretionary spending.