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SINGAPORE- S&P Global Ratings has affirmed its 'BB-' long-term and 'B' short-term issuer credit ratings on the Bank for Foreign Trade of Vietnam (Vietcombank). The outlook on the long-term rating is stable. S&P also affirmed its 'axBB+' long-term and 'axB' short-term ASEAN regional scale ratings on the Vietnam-based bank.

HONG KONG – China’s pharmaceutical sector remains the brightest spot in a slowing economy, and is showing steady profit margins, according to a new report by global insurer Coface.

BEIJING - China's securities regulator has created a special task group to guide and coordinate policymaking and technical operating issues for the long-planned Shenzhen-Hong Kong stock connect that will more closely link the Chinese stock market with foreign investors, according to people with knowledge of the matter.

SINGAPORE - A better-than-expected Q2 GDP print foreshadows what ANZ Bank expects to be Indonesia’s ascent to be one of the outperforming economies in ASEAN, especially after what it calls “fortuitously engineering a positive feedback loop between monetary and fiscal policy”. 

BEIJING - China's tourism industry earned RMB2.25 trillion (USS346 billion) in revenue in the first half of the year, up 12.4% year on year, official statistics show. Domestic tourists made 2.24 billion trips in the first half, an increase of 10.5%. Inbound and outbound trips edged up 4.1% to 127 million.

SINGAPORE - Banks in India and China will continue to face pressures on their asset quality, profitability, and capitalisation over the next 12-24 months, according to ratings agency Standard and Poors. "We expect economic risks to remain high for Indian and Chinese banks, which will constrain their credit profiles," said S&P Global Ratings credit analyst, Geeta Chugh.

HONG KONG - China’s official factory gauge contracted in July after expanding for four consecutive months, falling below the key 50 level separating growth from contraction and missing economist expectations. The NBS PMI came out at 49.9 in July (Consensus: 50), down from 50.2 in June. In contrast, the Caixin PMI, which tracks private sector SMEs, increased to 50.6 in July compared to 48.6 last month.