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China admits communication failings on renminbi
January 21, 2016--A top adviser to Chinese president Xi Jinping has conceded that poor communication contributed to global market anxiety over China's falling currency, as he tried to reassure investors that Beijing is not pursuing competitive devaluation.
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Source: FT.com
India's Stocks Lose Their Modi Momentum on Global Slowdown
January 20, 2016--Indian stocks have lost their Modi mojo as turmoil in global markets, weak corporate earnings and a slowing policy-change process hit investor sentiment.
The benchmark S&P BSE Sensex fell to 24,062.04 Wednesday.
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Source: Wall Dtreet Journal
IMF-Hong Kong SAR: Growing Despite Uncertainties
January 19, 2016--Economy has strong buffers, but faces multiple challenges
Higher interest rates could leave households and corporate sector exposed
Property sector appears to be slowing
Despite being repeatedly buffeted by powerful global cross-currents, Hong Kong SAR's economy has grown steadily in recent years, according to IMF economists.
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Source: IMF
China GDP growth slowest since 1990
January 19, 2016--China's economy grew at its slowest pace since 1990 last year but stayed within range of the government's target,, as growth in services such as finance and healthcare cushioned a slowdown in manufacturing and construction.
Inflation-adjusted fourth-quarter gross domestic product growth of 6.8 per cent puts the full-year figure at 6.9 per cent, broadly in line with Beijing's target of "around 7 per cent" for the year.
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Source: FT.com
China to raise offshore yuan reserve requirements for some banks-sources
January 17, 2016--China battling to stem speculation of further yuan weakness
Higher reserves could tighten supply, ease depreciation pressure
But views on weak yuan likely to persist as China economy slows
China's central bank is preparing to raise the reserve requirement ratio for yuan deposits placed in yuan clearing banks from Jan. 25 in its latest bid to stem speculation in the currency, according to three sources who have seen the document outlining the change.
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Source: Reuters
China to further open up capital market: regulator
January 17, 2016--China's capital market will open wider to foreign investors in 2016 and domestic brokerages will expand business overseas, the country's securities watchdog said Saturday.
China will gradually increase the quota for Qualified Foreign Institutional Investors (QFII) and RMB QFII, said Xiao Gang, head of China Securities Regulatory Commission, at a national conference on securities market regulation.
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Source: chinadaily.com.cn
Yuan Borrowing Rate Surges in Hong Kong: What You Need to Know
January 12, 2016--Overnight rate jumps to 66%, five times previous high
PBOC intervention drains currency from the offshore market
Hong Kong Interbank Offered Rates for yuan loans jumped by records to all-time highs across all tenors Tuesday as intervention by China to support its exchange rate tightened the currenc's supply in the offshore market.
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Source: Bloomberg
The Work Meeting on Launching the Mainland China and Hong Kong Fund Mutual Recognition Service Platform was Convened in Shenzhen
January 11, 2016--On January 8, 2016, the Work Meeting on Launching the Mainland China and Hong Kong Fund Mutual Recognition Service Platform was convened in Shenzhen.
More than 100 distinguished guests from China Securities Regulatory Commission ("CSRC"), Securities and Futures Commission of Hong Kong ("SFC"), Hong Kong Monetary Authority ("HKMA"), Shenzhen Municipal Government, Shenzhen Stock Exchange ("SZSE") and China Securities Depository and Clearing Co., Ltd. ("CSDC") as well as fund companies, sales organizations, securities companies and trust institutions in Mainland China and Hong Kong were presented at the meeting. The distinguished guests witnessed the launch of the platform together, and carried out in-depth discussion and exchange on the operation and improvement of the platform and the development and perfection of Mainland China and Hong Kong fund mutual recognition mechanism.
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Source: Shenzhen Stock Exchange
Shenzhen closes down 6.6% amid China rout
January 10, 2016--Markets tumble to fresh lows in afternoon trading despite efforts to prop up renminbi
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Source: haaretzdaily.com
World Bank: Let Private Sector Help Vietnam's Transport and Logistics
More Engagement Urged to Maintain Strong Growth in Shifting Economy
January 8, 2016--Vietnam's evolving economy needs new strategies to maintain strong growth, and a World Bank report calls for the government to work with private sector importers, exporters and transport companies to improve freight logistics.
Titled Engaging the Private Sector in Transport and Logistics Planning and Policy Making: Options for Vietnam, the report says systematic engagement with freight stakeholders by government agencies responsible for planning and policy making can boost trade competitiveness.
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Source: World Bank
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