Tuesday, May 26 2020 | ASIA TODAY INTERNATIONAL - Reporting the Business that Matters in Asia
HONG KONG - With China's GDP having expanded 6.2% on a year-to-date basis in Q3, ANZ Bank believes it is likely that the economy will maintain full-year growth at 6.0% in 2019, unless GDP growth falls below 5.5% y/y (or 1.0% q/q) in Q4.
TAIPEI - ANZ Bank says the 11th consecutive month of decline in Taiwan's export orders indicates lingering issues for Asia's tech outlook. "The export orders are a barometer of the health of the region's tech economy," ANZ says.
TOKYO -- After delaying it in two occasions, Prime Minister Abe finally had the courage to raise the consumption tax to 10% on October 1, sats the global financial group Natixis. But it criticises the Government's timing.
BEIJING - China will roll out more measures friendly to foreign investors, including the removal of more business restrictions and levelling the playing field for foreign businesses, according to a State Council statement from a meeting chaired by Premier Li Keqiang.
BEIJING - China will step up its efforts to boost investment in the textile industry in Belt and Road (B&R) countries, according to the China National Textile and Apparel Council (CNTAC).
BANGKOK - Thailand is encouraging foreign investors to relocate to Thailand, with new investment incentives announced by the Thai government and the Thailand Board of Investment.
SINGAPORE - S&P Global Ratings has affirmed its 'BB' long-term and 'B' short-term sovereign credit ratings on Vietnam, and says the outlook is stable. The transfer and convertibility assessment remains unchanged at 'BB'.
BEIJING - Multiple local governments in eastern China, some of the country's most developed and wealthiest regions, reported plummeting industrial profits for the first eight months of the year, according to a report in Caixin.
SINGAPORE -- S&P Global Ratings believes China would probably agree to a side deal on currency policy if it rests on allowing market forces to play a greater role. It says the U.S. has become fond of including currency provisions in its recent trade agreements, and these often require that countries refrain from exchange rate manipulation and competitive devaluations.
HONG KONG - Despite four months of protests, Hong Kong's well run and highly-profitable rated companies so far remain resilient - but as political and economic uncertainties pile up, there are multiple scenarios that could impact, says S&P Global Ratings in a report released today.
HONG KONG - Hong Kong's biotech market has grown quickly since new Listing Rules were introduced in 2018, opening the door to pre-revenue biotech companies for the first time. Since then, 16 biotech companies have listed on the HKEX Main Board, raising a total of HK$53.5 billion.
HONG KONG - The ongoing trade war and geopolitical issues have increased the risk of a financial decoupling between China and the US, according to a China Insight report from ANZ Bank.
TAIPEI - In her National Day address, Taiwan's President, Tsai Ing-wen, has again firmly rejected a continuing push for Taiwan to become part of China under a "One Country, Two Systems" arrangement.
HONG KONG - Standard and Poor's today affirmed its 'AA+/A-1+' issuer credit ratings on Hong Kong on the expectation that the Special Administrative Region's strong credit metrics will allow the Government's credit standing to withstand fallout from the current situation.
HONG KONG - Ratings agency Standard & Poor's says it believes the U.S.-Sino trade war has accelerated China's transition from old to "new economy" activity, potentially casting a long shadow on corporate profits and, in turn, biting into bank asset quality.
NEW DELHI -- Despite cutting its policy repo rate by 25bps for the fifth straight time this year, the Reserve Bank of India's (RBI) move was still less aggressive than had been anticipated, says ANZ bank. Five members voted for a 25bp cut versus one who favoured a 40bp cut.