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Stock Market / Finance in Eastern Asia

  • Fitch maintains Korea’s AA- credit rating

    SOUTH KOREA, 2017/10/15 Credit ratings firm Fitch Ratings has affirmed that Korea’s long-term foreign-currency issuer default rating (IDF) stands at AA- with a stable outlook. Fitch has rated Korea’s national credit rating as AA- since September 2012 and has maintained the grade for five years. AA- is the fourth highest level in Fitch’s rating tiers.
  • Japan policymakers soften fiscal pledges as election prospects loom

    JAPAN, 2017/09/23 Senior Japanese policymakers on Friday said they may need to adjust calculations underlying the country's plans to trim spending, an indication the government could look to water down previous pledges to improve fiscal prudence. The statements are a nod to recent reports premier Shinzo Abe will delay the timing for conference fiscal reform goals to allow the scope to boost spending on education.
  • BRICS countries considering own cryptocurrency as settlement mechanism

    CHINA, 2017/09/07 The BRICS Finance Committee is discussing a joint virtual currency for the five country bloc of developing economies, according to the Russian Direct Investment Fund (RDIF) chief Kirill Dmitriev. During the BRICS Summit in Xiamen, Dmitriev told journalists that Brazil, Russia, India, China and South Africa could develop its own alternative to other payment tools. "While there is a focus on settlements in national currencies, cryptocurrencies are as well being discussed as one of the possible settlement mechanisms," Dmitriev explained.
  • Rise in China's forex reserves indicates stabilized capital flow, firmer economy

    CHINA, 2017/08/15 The rise in China's foreign exchange reserves in July reflects the facts that the country's cross-border capital flows have stabilized and that Chinese economy stands on a firmer footing, analysts said here on Tuesday. China's foreign exchange reserves reached 3.081 trillion U.S. dollars by the end of July, marking a sixth consecutive rise, according to the People's Bank of China. It is the initial time that the reserves expanded for six months in a row since June 2014.
  • china Mainland sees 4.3% fall in FDI in April

    CHINA, 2017/06/20 FOREIGN direct investment in the Chinese mainland retreated mildly from a year ago in April, data from the Ministry of Commerce showed yesterday. The FDI fell 4.3 % from a year before to 59.91 billion yuan (US$8.7 billion) in April, in contrast to a 6.7 % increase in March, said a statement posted on the ministry’s website. Last month saw 3,343 new foreign-funded enterprises set up on the mainland, up 42.7 % year on year.
  • Yuan strengthens to almost 7-month high

    CHINA, 2017/06/20 THE yuan surged to a near seven-month high yesterday, following news that China was mulling a new yuan pricing formula to enhance stability. Spot yuan strengthened through 6.8 per US dollar for the initial time since November 11 in early trade before retreating and settled at 6.8061 by the close of trade in China. The 4:30pm settlement price was still nearly 0.2 % firmer than the previous late session close.
  • Asian energy firms fired up by rally in oil prices

    HONG KONG, 2017/06/02 Oil prices pressed on with fresh gains in Asian trade on Tuesday, boosting energy firms, next Russia and Saudi Arabia indicated they could extend an output cut into next year. The world's top two crude-producing nations raised the idea at the weekend, with a transaction agreed between OPEC — of which Saudi Arabia is the key player — and Russia coming to an end in six weeks. The news sent oil prices soaring about 2 % on Monday, in turn dragging world energy firms with them.
  • North American FDI into China continues to fall

    UNITED STATES, 2017/05/11 North American investment into China is following a downward trend that began in 2013. James Whitten reports. Greenfield investment monitor fDi Markets has recorded a year-on-year decline of FDI from North America into China between 2013 and 2016. China is consistently the majority popular destination in the Asia-Pacific region for receiving North American investment . It accounted for 23.73% of capital investment in the 2013 to 2016 period from US and Canadian businesses. Further, China is North America’s second most popular destination for foreign investment projects globally, behind only the UK, and has received the majority capital investment (9.18% of North America’s total outward capital investment ).
  • Moody's Says Geopolitical Risk For Korea Broadens

    SOUTH KOREA, 2017/05/03 Moody's Investors Service said the escalation of tensions between the North Korean regime and the new US government broadens the nature of geopolitical risk for South Korea, which is the majority salient event risk for the sovereign and a constraint on the rating. A further sustained escalation of tensions would affect Korea's economic and fiscal strength negatively.
  • Asian Markets In Positive Territory

    AUSTRALIA, 2017/05/03 Asian stock markets are in positive territory on Wednesday, following the overnight gains on Wall Street amid upbeat corporate earnings results and on optimism as U.S. President Donald Trump is expected to unveil a tax plan later in the day. The Australian market, which was closed on Tuesday for the Anzac Day holiday, is rising following the positive lead overnight from Wall Street. In late-morning trades, the benchmark S&P/ASX 200 Index is adding 45.90 points or 0.78 % to 5,917.70, off a high of 5,923.90 before. The broader All Ordinaries Index is up 41.50 points or 0.70 % to 5,942.20.