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Asia, Emerging Markets to lead K-shape global economic recovery: Manulife

December 30, 2020

HONG KONG -- While stabilisation of markets seems to be within reach with the introduction of new COVID-19 vaccines and new leadership in the US, investors should expect the process to be gradual and long, Manulife Investment Management says in its regional outlook for the year ahead. Structural changes caused by the pandemic will take time to reverse, it says.

Some positives in the economic consequences of COVID-19: BBVA

December 30, 2020

PARIS -- Beyond the human tragedy of COVID-19, 2020 has left the world with a long list of economic consequences for the future - but they are not all negative, says BBVA Bank. "The most obvious consequence is the severe recession, with global GDP expected to decrease by more than 2.5%, which is a bigger decrease than that of the 2009 financial crisis (-1.7%)," BBVA says in a new report. 

"We know that this decline is temporary and is not a response to cumulative imbalances of inflation or debt, as is the case with normal recessions," the report says.        

"China takes control of Sichuan Trust as it ramps up shadow banking clampdown”: S&P

December 29, 2020

HONG KONG -- China's move to take control of Sichuan Trust Co. Ltd. signals a growing assertiveness with the sector, according to global ratings agency Standard and Poor's. Chinese officials said the entity was plagued with governance issues, resulting in a swath of defaulted trust products, but S&P Global Ratings believes the authorities' action on Sichuan Trust demonstrates China's intention to continue its crackdown on trust entities specifically, and China's shadow bank sector generally, in 2021.

Taiwan gaining more support on global stage, says Ministry report

December 23, 2020

TAIPEI - More than 1,700 lawmakers from over 80 countries spoke in favour of Taiwan's participation in the World Health Assembly -- the decision-making body of the World Health Organisation -- when the WHA reconvened last month in Geneva, according to the annual report of Taiwan's Ministry of Foreign Affairs (MOFA), which said global support for Taiwan on this issue had reached an "unprecedented level".

US Senate push for Free Trade Agreement with Taiwan

December 23, 2020

WASHINGTON:  A U.S. Republican Senator, Pat Toomey, has introduced a resolution to the U.S. Senate calling for the negotiation of a free trade agreement with Taiwan. Roomey described building closer trade ties with Taiwan as a win-win for both sides, saying it would help the U.S. strengthen its relationship with a key ally -- while increasing economic engagement in the Indo-Pacific.

China GDP growth may top 5.5% in Q4, says ANZ

November 30, 2020

HONG KONG - Strong PMI prints in November indicate a high possibility that China's GDP growth may return to above 5.5% y/y in Q4, according to ANZ Bank. It says a broad improvement is seen across sectors, particularly for small enterprises, whose PMI climbed to 50.1, above the breakeven threshold. For the manufacturing sector, the production and new orders sub-indices moved to 54.7 and 53.9, the highest levels year to date, suggesting a recovery in both supply and demand.

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.