China’s Economic Outlook Remains Favorable, but Further Macro Policy Normalization is Needed
April 27, 2011--China's economic outlook remains broadly favorable with real GDP growth projected at 9.3 percent in 2011 and 8.7 percent in 2012, but risks on inflation and the property market call for full normalization of the macroeconomic stance to keep growth on track, according to the World Bank's latest China Quarterly Update released today
“Headwind from a normalized macroeconomic stance, inflation, and somewhat slower global growth is likely to be partly offset by solid corporate investment and a still robust labor market,” says Ardo Hansson, Lead Economist for China. “In all, with a broadly neutral contribution of net trade, we now project China’s real GDP growth at 9.3 percent in 2011 and 8.7 percent in 2012.”
The Update, a regular assessment of China’s economy, finds that both fiscal and monetary policy contributed to the tightening of macroeconomic policy after the massive stimulus during the global financial crisis. Consumption growth slowed in early 2011. But overall domestic demand held up well, supported by still strong investment growth. Real estate investment has so far remained robust due to measures to contain housing prices—a policy focus. Reducing inflation is the other policy priority, after inflation rose to 5.4 percent, largely on higher food prices.
view the World Bank China Quarterly Update - April 2011
Source: World Bank
HK commodities exchange to debut with gold
April 27, 2011--A Hong Kong-based commodities exchange backed by Chinese state companies and Russian billionaire Oleg Deripaska plans to make its trading debut next month with a futures contract linked to gold.
The Hong Kong Mercantile Exchange is betting that the shift in financial gravity from west to east will allow it to challenge the dominance of London, Chicago and New York in global commodities markets.
read more South Korea's economy grows 1.4 percent in 1st quarter read more NSE'' gold ETF turnover more than doubles in 2010-11
Gold ETFs, where returns are linked to the domestic price of physical gold but spare the investors from the trouble of buying and keeping the yellow metal in physical form, have been gaining ground among investors in past few years. read more
FSA extends temporary measures regarding restrictions on short selling and purchase of own stocks by listed companies 3) Request the exchanges to make daily announcements on their aggregate price of short selling regarding all securities and aggregate price of short selling by sector (The announcements have been made sequentially since October 14, 2008). (See the FSA press release on October 14, 2008.) read more
Two Sector ETFs To Be Listed on the Korea Exchange Aussie dollar surges to fresh 29-year high read more
OECD -Japan's economic outlook following the 11 March 2011 Earthquake read more
Power Saving Action Plan At Tokyo Stock Exchange (*) The trading hours will remain the same as current hours. Power Saving Action Plan At Tokyo Stock Exchange (*) The trading hours will remain the same as current hours. If you are looking for a particuliar article and can not find it, please feel free to contact us
Source: FT.com
April 26, 2011--South Korea's economic growth rate accelerated sharply in the first quarter on strength in exports and manufacturing, though high inflation for food and gasoline weighed on consumer spending.
Gross domestic product expanded 1.4 percent in the three months ended March 31, the Bank of Korea said. That compares with growth of 0.5 percent in the final three months of last year. The figure narrowly missed the bank's own forecast of a 1.5 percent expansion. The result marked the ninth straight quarter of growth for South Korea, which has enjoyed a vibrant recovery from the global economic downturn, though like neighboring China and some other countries is battling inflation that in March hit its highest level in more than 2.5 years on higher prices for food and gasoline. The BOK has raised its key interest rate four times since July to try and curb rising prices.
Source: Todays Zaman
April 24, 2011--Riding high on growing demand for gold investment, the country''s top bourse NSE saw the turnover more than doubling for gold ETFs in last fiscal, which allow investors to buy and sell the yellow metal in electronic form.
Their total traded value of gold ETFs (Exchange Traded Funds) on NSE surged to Rs 4,074.30 crore in fiscal year 2010-11 ended March 31, as against Rs 1842.36 crore in the previous year.
Source: Yahoo News India
April 22, 2011--1.The following regulatory measures on short selling are currently in place, with regard to all listed stocks in Japan:
1) An uptick rule requirement which prohibits, in principle, short selling at prices no higher than the latest market price;
2) Requirements for traders to verify and flag whether or not the transactions in question are short selling; and
Source: FSA.go.jp
April 21, 2011--The Korea Exchange is going to list two sector ETFs, KODEX Transportation ETF and KODEX Insurance ETF, on April 26, 2011. The underlying indices of the two newly listed ETFs are KRX Transportation and KRX Insurance
The total number of the ETFs listed on the Korea Exchange would increase to 91.
Source: KRX
April 20, 2011--The dollar fell to a 16-month low as rising risk appetite encouraged investors into carry trades and talk circulated that China was set to allow its currency to rise significantly.
Risk appetite was boosted as stocks rallied after robust corporate earnings raised hopes over global growth and a successful Spanish bond auction lessened fears over eurozone government finances.
Source: FT.com
April 19, 2011--- The 11 March 2011 Great East Japan Earthquake was the strongest ever recorded in Japan and triggered the country’s worst disaster of the post-war era. The earthquake and accompanying tsunami resulted in an enormous loss of human life, as well as massive economic damage. A preliminary report by the government estimated the damage to social infrastructure, housing and private firms’ fixed capital at between 3.3% and 5.2% of 2010 GDP.
In addition to the usual risks related to the strength of world trade, exchange rates and commodity prices, there is great uncertainty about developments in Japan, including the duration of electricity shortages, the problems at the Fukushima nuclear plant and the size and timetable of government reconstruction spending. Consequently, the timing and strength of an economic rebound is exceptionally difficult to forecast.
Source: OECD
April 18, 2011--Due to the impact of Great East Japan Earthquake, an extremely serious situation regarding the supply and demand of electricity is expected this summer. The government has announced a “Framework of Countermeasures for Supply and Demand of Electricity in Summer” to illustrate the fundamental perspectives and the direction for countermeasures related to supply and demand of electricity this summer.
The Tokyo Stock Exchange (TSE) will endeavor to continue assuring stabilized market operation, while also enacting countermeasures for power saving, such as turning down the lights and air conditioners in the office and the Arrows market center, in light of the circumstances above. The TSE will review operations including suspending Arrows tours, seminars and events on week days (seminars on holidays will be under consideration). The TSE is also planning to make comprehensive efforts such as encouraging its employees to take vacations in the summer, introduction of summer hours (moving forward of working hours(*)) and SETSUDEN biz (cool biz revised for saving power).
Source: TSE
April 18, 2011--Due to the impact of Great East Japan Earthquake, an extremely serious situation regarding the supply and demand of electricity is expected this summer. The government has announced a Framework of Countermeasures for Supply and Demand of Electricity in Summer to illustrate the fundamental perspectives and the direction for countermeasures related to supply and demand of electricity this summer.
The Tokyo Stock Exchange (TSE) will endeavor to continue assuring stabilized market operation, while also enacting countermeasures for power saving, such as turning down the lights and air conditioners in the office and the Arrows market center, in light of the circumstances above. The TSE will review operations including suspending Arrows tours, seminars and events on week days (seminars on holidays will be under consideration). The TSE is also planning to make comprehensive efforts such as encouraging its employees to take vacations in the summer, introduction of summer hours (moving forward of working hours(*)) and SETSUDEN biz (cool biz revised for saving power).
Source: TSE