HONG KONG- On the heels of a new recipe registration requirement for infant formula, the China Food and Drug Administration (CFDA) has issued new rules regarding labelling. General slogans like 'imported milk source' and 'foreign pasture origin' will not be allowed following a three-month transitional period.
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HONG KONG - The Asia-Pacific region is facing unprecedented levels of complex cybercrime and fraud attacks, according to a 2016 Q3 Cybercrime report by ThreatMetrix, a digital identity firm.
HONG KONG – China’s November activity data has surprised the market on the upside, as the economic recovery gains momentum. As expected, the housing market softened with both investment and sales growth slowing, but the impact was more than offset by resilient infrastructure investment.
SINGAPORE - S&P Global Ratings today affirmed its 'BBB+' long-term and 'A-2' short-term foreign currency sovereign credit ratings, and its 'A-' long-term and 'A-2' short-term local currency ratings, on Thailand. The outlook is stable.
BEIJING - The Communist Party of China yesterday specified major tasks for the economy next year, including further advancing supply-side structural reform. The country should push forward reforms in key sectors, including State-owned enterprises, fiscal policy, finance and social security, according to a statement released after a meeting of the Political Bureau of the CPC Central Committee.
BEIJING - China has vowed to take countermeasures if WTO members continue to classify Chinese imports through a protocol that it says gives trading partners an edge in dumping disputes - and can result in high tariffs imposed on Chinese goods.
HO CHI MINH CITY - Like most other currencies in the region, the VND was under increasing pressure in November because of a strengthening US dollar. At month-end, the VND had depreciated 1.5% against the US dollar since the U.S election.
SHANGHAI – UnionPay, the universal credit card in China, says its cards are now accepted at about 30,000 ATMs and more than 600,000 POS terminals in Australia, covering 90% of all ATMs and about 70% of local merchants (over half of which also accept UnionPay mobile QuickPass).
SINGAPORE - S&P Global Ratings said today that the impeachment of President Park Geun-hye does not have a material effect on the sovereign credit rating of South Korea, which is rated AA/Stable/A-1+. “Although political uncertainty could remain a distraction to policymakers for some time, we believe the effective Korean bureaucracy will keep the Government running smoothly,” S&P says.
SEOUL – South Korea’s Acting President and Prime Minister, Hwang Kyo-ahn, has expressed his unwavering determination to maintain state affairs and uphold a stable stance regarding national security following the impeachment of President Park Guen-hye.
HONG KONG - The Guangzhou International Optics Fair has highlighted the huge potential of the Mainland eyewear market, with the existing number of online and offline retailers unlikely to be able to meet growing demand predicted over the next three years, according to a HKTDC research report.
KUALA LUMPUR – Malaysia’s central bank, Bank Negara Malaysia (BNM), has introduced measures to shore up the ringgit and liquidity. Global asset manager, Natixis, says Malaysia’s choice has implications for similarly smaller economies that are considering their options in the months ahead.
HONG KONG – Building on the Shanghai-Hong Kong Stock Connect programme launched in 2014, Shenzhen-Hong Kong Direct launched today offers an expanded list of eligible stocks to give international and Hong Kong investors direct access to most companies traded in Mainland China for the first time. There are also more choices for Mainland investors, with 100 small cap stocks listed in Hong Kong now available through Shenzhen Connect.
HONG KONG - HSBC in China has launched the Bank’s first credit cards in Mainland China – across all cities in the Pearl River Delta (PRD) and 30 other cities across China - as the HSBC Group accelerates investments in Asia.
JAKARTA - Indonesia’s CPI inflation accelerated in November, printing higher than market expectations. ANZ Bank says the print reinforces its view that inflation troughed in Q3 and should be on an upward trajectory going forward.
HONG KONG - With oil prices on average 9% lower than in October, but bouncing sharply on the last day of the month, HSBC’s proxy for the IMF commodity price index showed a 3% drop for the month (on average), despite the fact that 19 of the 32 commodities included in the measure had higher average prices.
In particular, metals prices showed strong gains, with the average price for iron ore hitting a two-year high and the average price for zinc at its highest level in nine years.