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China Analysts Already Calling Time on Yuan's Surge Past 7
November 5, 2019--Currency stronger than key level for first time since August
Recent rally likely to be temporary, top forecaster says
China's yuan rallied past 7 per dollar only yesterday and analysts are already warning the strength won't last.
The currency jumped as much as 0.60% to 6.9880 a dollar Tuesday, trading stronger than the key level for the first time since August. The offshore rate rose as much 0.66%. The level had been a key support for the currency for years until August, when the central bank allowed it to weaken past 7 for the first time in more than a decade
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Source: Bloomberg.com
IMF Building on South Asia's Economic Success
November 4, 2019--South Asia is poised to play a key role in the global economy, building on the steady economic progress and reform process over the last few decades. Despite the recent global economic slowdown, India remains among the fastest-growing large economies, and South Asia's contribution to global growth is set to increase, while those of more mature economies around the world decelerate.
With a population that has a median age under 27, South Asia is the youngest region in Asia. Based on demographic trends, more than 150 million people in the region are expected to enter the labor market by 2030. A large and young workforce can be South Asia's strength, if supported by a high-quality and job-rich growth strategy that leverages all sectors of the economy in a balanced way.
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Source: IMF
China issues its first euro-denominated sovereign bonds in 15 years
October 31, 2019--Beijing seeks to take advantage of low interest rates to diversify away from dollar debt
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Source: FT.com
China's fund industry suffers slowing growth
October 28, 2019--Predictions of when country's market will overtake UK's have been pushed back
The rapid growth of the Chinese asset management industry has faltered in the past two years as the country's slowing economy and choppy...
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Source: FT.com
IMF-Asia and Pacific Regional Economic Outlook: Caught in Prolonged Uncertainty
October 22, 2019--Headwinds from prolonged global policy uncertainty, distortionary trade measures, and growth deceleration in the economies of important trading partners are influencing economic growth in Asia and the Pacific. Although the region is still the world's fastest growing major region, contributing more than two-thirds to global growth, near-term prospects have deteriorated noticeably since the April 2019 World Economic Outlook, with risks skewed to the downside.
Growth in Asia is expected to moderate to 5.0 percent in 2019 and 5.1 percent in 2020 (0.4 and 0.3 percentage point lower than projected last April, respectively). A marked deceleration in merchandise trade and investment, driven by distortionary trade measures and an uncertain policy environment, is weighing on activity, particularly in the manufacturing sector. Loosening monetary policy in key advanced economies and, correspondingly, easing financial conditions, are mitigating the impact of slower growth on Asian economies, but could add to financial vulnerabilities in the region.
IMF Departmental Papers-Facing the Tides: Managing Capital Flows in Asia view the IMF Departmental Papers-Facing the Tides: Managing Capital Flows in Asia China Braces for Economic Growth to Fall Below 6%
Data released Friday showed an economy expanding at just 6.0%, the slowest in almost three decades,and with broad investment growth too tepid to rely on an upturn down the road. view more World Bank-Growth in South Asia Slows Down, Rebound Uncertain view the World Bank South Asia Economic Focus, Fall 2019: Making (De)centralization Work East Asia and Pacific: Growth Slows as Trade Tensions and Global Uncertainties Intensify view more China and Japan link up with 'feeder' ETFs view more
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Source: IMF
October 22, 2019--Summary:
This paper looks empirically at some economic effects of volatile exchange rates and financial conditions and examines policy responses for managing such volatility.
It also sheds light on some economic costs that stem from volatile capital flows and exchange rates and analyzes how countries deploy their policy toolkits in response. The data-driven analysis should contribute to ongoing reflections about how to manage volatile capital flows and exchange rates both in Asian EMEs and more broadly.
Source: IMF
October 20, 2019--PBOC's Yi stressed importance of stable debt at IMF meetings
Top Party officials to meet in October on long-term policies.
China's policy makers are preparing for two key meetings in the coming weeks with fresh evidence that sooner rather than later, the number for gross domestic product growth will start with a 5.
Source: Bloomberg
October 13, 2019--In line with a global downward trend, growth in South Asia is projected to slow to 5.9 percent in 2019, down 1.1 percentage points from April 2019 estimates, casting uncertainty about a rebound in the short term, says the World Bank in its twice-a-year regional economic update.
The latest edition of the South Asia Economic Focus, Making (De)centralization Work, finds that strong domestic demand, which propped high growth in the past, has weakened, driving a slowdown across the region. Imports have declined severely across South Asia, contracting between 15 and 20 percent in Pakistan and Sri Lanka. In India, domestic demand has slipped, with private consumption growing 3.1 percent in the last quarter from 7.3 percent a year ago, while manufacturing growth plummeted to below 1 percent in the second quarter of 2019 compared to over 10 percent a year ago.
Source: World Bank
October 10, 2019--Growth in developing East Asian and Pacific economies is expected to slow from 6.3 percent in 2018 to 5.8 percent in 2019 and to 5.7 and 5.6 percent in 2020 and 2021, respectively, reflecting a broad-based decline in export growth and manufacturing activity.
Weakening global demand, including from China, and heightened uncertainty around ongoing US-China trade tensions has led to a decline in exports and investment growth, testing the resilience of the region, according to Weathering Growing Risks, the October 2019 edition of the World Bank’s East Asia and Pacific Economic Update, released today.
Source: World Bank
October 7, 2019--Scheme intended to make cross-border equities investment cheap and efficient
Exchange traded funds might sound like an unlikely way to improve harmony between rival nations but China and Japan have agreed to co-operate on a new ETF scheme designed to strengthen the links between both countries' capital markets.
The China-Japan ETF Connectivity Scheme was launched at twin ceremonies in June by senior executives from the Shanghai and Tokyo stock exchanges, marking the culmination of 10 months of discussions.
Source: FT.com
