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Malaysia inflation on higher trajectory as Government cuts subsidies

January 22, 2014

~~KUALA LUMPUR - Malaysia’s inflation inched up to 3.2% y/y in December, from 2.9% in the preceding month, due to continued cost pass-through from increases in fuel prices. With recent hikes in both fuel and power prices, the continued rationalisation of subsidies will likely keep inflation elevated, at an average 3.3% for the whole of 2014, according to ANZ Bank.

Bank of Thailand holds rates at 2.25% as political crisis deepens

January 22, 2014

BANGKOK - In a close call, and against market expectations, the Bank of Thailand has held its benchmark repo rate unchanged at 2.25%. A range of economic indicators have weakened in recent months, as tourists and investors stay on the sidelines due to continuing protests against the incumbent government of Prime Minister Yingluck Shinawatra.

Moderation in China’s Q4 growth strong enough to allow reforms to proceed

January 20, 2014

HONG KONG – China’s fourth quarter GDP growth was in line with expectations at 7.7% y/y, slowing from 7.8% in the previous quarter, although in sequential terms, the slowdown was more pronounced at 1.8% q/q sa from 2.2% q/q sa in Q3, according to official data. The outturn brings full-year growth to 7.7% for 2013.

Leading group to reform China wealth management, interbank businesses

January 17, 2014

BEIJING - The China Banking Regulation Commission (CBRC) has created a leading group to reform the system's wealth management products and interbank business. The CBRC has already asked local agencies to design their own reform packages in the first quarter. The direction for the WMPs management will be a "department system organised structure", according to the CBRC.

Bird flu cases growing nationwide in China

January 16, 2014

BEIJING - The number of human H7N9 bird flu infections continues to rise nationwide, with about 20 new cases reported in the first two weeks of 2014. Zhejiang province has reported new cases for seven consecutive days for a total of 12 cases, including some fatalities. Zhejiang was also the site of China’s first confirmed human-to-human transmission last November, when a man was infected while caring for his father-in-law.

Hong Kong to focus on poverty and income inequality, Mainland and ASEAN ties

January 15, 2014

HONG KONG – In his second Policy Address as Chief Executive of Hong Kong, C Y Leung has focussed on longer-term issues of tackling poverty and housing challenges. He announced plans to raise the supply of private housing units by 40% in the next five years. A low-income working family allowance has also been proposed.

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