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Stock Market / Finance in Asia

  • Yuan Devaluation In Store For 2016?

    CHINA, 2015/12/16 Following the mini-devaluation in August, the yuan appreciated in September and October. It began depreciating again in November and this has continued through the initial half of December. The dollar finished the local session at new multi-year highs against the yuan. A lot of observers see in the pre-weekend announcement about monitoring the yuan against a basket an indication of the intentions of officials to push their currency down further against the dollar. We suggest that China has merely confirmed what it has been doing. The close link between the yuan and dollar prevents China from pursuing a additional independent monetary policy. The removal of accommodation by the Federal Reserve, which is widely expected this week, is not appropriate for China, though the data over the weekend (industrial output, retail sales, and fixed investment asset) suggests the world’s second major economy may be stabilizing.

  • More Market Instability? The Highly Leveraged Nature of our Financial System is Teetering

    WORLD, 2015/12/16 This week shapes up as one which could go down in the history books! Markets last week were tumultuous from weak equities, illiquid credit markets, FOREX markets in disarray and commodities hitting the skids …from presently on the Federal Reserve is intent on hiking rates? Have they taken this position because the markets are strong? Or because the economy…anywhere on the planet is overheating? Before looking at “this week”, I have seen it said by a lot of, “the Fed must raise rates to have any credibility left”. This is authentic to an extent but there is one core reason and one of their own making. You see, the fake data and outright lies have been coming out of Washington in such regularity and magnitude the Fed has been painted into a corner.

  • South Korea Money Supply Growth Eases In October

    SOUTH KOREA, 2015/12/10 South Korea's money supply increase slowed in October next accelerating in the previous month, preliminary figures from the Bank of Korea showed Wednesday. M2, a broad measure of money supply, rose 8.8 % year-on-year in October, slower than the 9.4 % climb in September. On a monthly basis, M2 money supply edged up 0.1 % in October, following a 0.7 % increase in the preceding month.

  • China Inflation Accelerates More Than Forecast; PPI Falls

    CHINA, 2015/12/10 Chinese inflation rose additional than expected in November suggesting that measures taken to boost economic increase is beginning to spur domestic request. Consumer prices rose 1.5 % year-on-year in November, faster than the 1.3 % increase seen in October, as both food and non-food price inflation picked up, the National Bureau of Statistics said Wednesday. Inflation as well exceeded the expected rate of 1.4 %. Despite the acceleration, in general inflation remains well below the government's full year target of around 3 %.

  • China Ranks First In Black Money Outflows Per Annum

    CHINA, 2015/12/10 China ranks initial in black money outflows with a whopping $139 billion siphoned out of the country per annum between 2004-2013, according to a US-based think-tank's statement. Russia is second in the inventory with $104 billion average outflow of illicit finances per annum, followed by Mexico ($52.8 billion per annum) and India ($51 billion per annum), according to the annual statement released by World Financial Integrity (GFI), a Washington-based research and advisory organization, Wednesday. Notably, India's black money outflow is additional than the country's defense budget of $50 billion.

  • Reliance Securities to Settle Rp 101b Share Purchase Amid Scandal

    INDONESIA, 2015/11/24 Following recent fictitious trading allegations, Reliance Securities, a listed brokerage firm, is currently in negotiations to settle a dispute involving Rp 101 billion ($7 million), which the firm was entrusted to purchase a stake in listed coal miner Sekawan Intipratama. In a statement issued to the local stock exchange on Monday, the Jakarta-based broker reported that negotiations were underway with six other securities firms, inclunding Yuanta Securities Indonesia and Trust Securities, which both subpoenaed Reliance Securities. "We're still in the negotiating process with Yuanta Securities. We hope this will be settled as any minute at this time as possible," the statement said. The broker, a unit of the Reliance Group, which as well received a subpoena from Trust Securities involving some Rp 10 billion worth of transactions, was revoked by the company and settled.

  • South Korea's headline inflation remained at a zero %

    SOUTH KOREA, 2015/11/24 South Korea's headline inflation remained at a zero % for 11 straight months though the inflation advanced in October from the previous month, a government statement showed Tuesday. Consumer prices climbed 0.9 % in October from a year before, according to Statistics Korea. It remained in a zero-% range since December 2014 at the same time as it posted 0.8 %. Amid the prolongation of the low headline inflation, the central bank was estimate to cut its inflation target band of 2.5-3.5 % in December for its regular revision each three years. "We expect the Bank of Korea and the government to acknowledge to lower the inflation target from 3.0 % to 2.5 % in a mid-point basis," Kwon Young-Sun, a Hong-Kong based economist at Nomura International, said in a statement.

  • China Hushen 300 index futures close higher Wednesday

    CHINA, 2015/11/23 China's Hushen 300 index futures closed higher on Wednesday, with the arrangement for November, the majority actively traded, up 0.76 % to close at 3,806 points. The December arrangement gained 0.84 % to close at 3,723.2 points and the March 2016 arrangement rose 0.68 % to end at 3,627 points. The June 2016 arrangement climbed 0.53 % to 3,558.2 points. The stock-index contracts, agreements to buy or sell the Hushen 300 Index at a preset price on an agreed date, are designed to allow investors to bet on and profit from either gains or declines in the market.

  • China's new yuan loans up in October

    CHINA, 2015/11/23 China's new yuan-denominated lending in October hit 514 billion yuan (around 80.6 billion U.S. dollars), up 48 billion yuan from a year before, official data showed on Thursday. M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 13.5 % year on year to 136 trillion yuan at the end of October, the People's Bank of China (PBOC) said in a statement on its website. The narrow measure of money supply (M1), which covers cash in circulation plus request deposits, rose 14 % year on year to 37.6 trillion yuan at the end of last month, the statement said.

  • Dollar in lower 122 yen zone

    JAPAN, 2015/11/23 The U.S. dollar changed hands in the lower 122 yen zone in early trading on Monday in Tokyo.
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