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Stock Market / Finance in Asia

  • The Chinese Stock Free Fall: Not a Crisis, but a Scary Fire Drill

    CHINA, 2015/07/26 For most economies in the world, a 30 per cent drop in the stock index within a span of three weeks would certainly be considered a crisis. Certainly, the Chinese stock free fall (32 per cent at its peak) is a significant concern in China. In fact, I was told the occupants of China’s Zongnanhai (the equivalent of the U.S. White House) endured the ensuing weekend with no rest, relentlessly laboring over rescue measures. In the final analysis, however, this was not a real “crisis” but a scary and revealing fire drill. Most likely, the stock market will be stabilized before long. Why is the 30 per cent drop in the Chinese equity market not a real crisis, compared with the chaotic trading days on Wall Street in the fall of 2008, and the financial panic in Thailand in 1997? First and foremost, the Chinese stock market is much less connected with China’s overall financial system, where commercial banks still remain at the center.

  • EFSD to finance Toktogul HPP in Kyrgyzstan

    KYRGYZSTAN, 2015/07/09   The Council of the Eurasian Fund for Stabilization and Development has approved an investment loan worth $100 million to Kyrgyzstan. The loan will finance the second stage of the rehabilitation project for the Toktogul Hydropower Plant, EFSD said on July 7. EFSD, formerly the EURASEC Anti-crisis Fund, is an international financial institution established by Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan with the goals of assisting its member states in overcoming the consequences of world financial crisis, ensuring their long-run economic stability, and fostering the economic integration of EFSD member nations.

  • Macau invests part of its financial reserve in Guangdong

    CHINA, 2015/06/28 Cooperation between Guangdong province and Macau completed the objectives set out in the “Guangdong/Macau Cooperation Framework Agreement” and this cooperation will presently reach a higher level, the Chief Executive of Macau said Thursday. At the end of the 2015 Guangdong-Macau Joint Cooperation Conference held in the city of Jiangmen, Chief Executive Chui Sai On as well said an agreement had been signed for investment of the Macau financial reserve in large infrastructure projects in Guangdong Province.

  • EBRD finances tramway system of Kazakh city

    KAZAKHSTAN, 2015/05/26 The EBRD is helping Pavlodar, a major city in the north-east of Kazakhstan, to modernise the tramway system that is crucial for public transportation in the city. Pavlodar, one of the oldest cities of Kazakhstan, is home to over 330,000 people and most of them use trams as their major means of transport.

  • Cashless payments losing popularity in Kazakhstan

    KAZAKHSTAN, 2015/05/15 The popularity of non-cash payments is falling in Kazakhstan, according to a message from the analytical service, Ranking.kz. The message said that during a period between March 2014 and March 2015, the volume of cash withdrawals in Kazakhstan was 9.3 times higher than the volume of cashless payments by credit cards (574 billion tenges versus 62 billion tenges at the rate of 185.8 tenges/$1). “This is the biggest difference over the completed five years,” the message said.

  • The EBRD and Bai Tushum Bank (BTB), one of the largest financial institutions in the Kyrgyz Republic,

    KYRGYZSTAN, 2015/05/15 The EBRD and Bai Tushum Bank (BTB), one of the major financial institutions in the Kyrgyz Republic, signed a participation agreement that will enable BTB to offer longer terms and larger loans to its clients. The agreement means that BTB is joining the ranks of EBRD partner banks which benefit from a appropriate co-financing mechanism through which the EBRD provides half of the financing and takes on half of the risk. The mechanism, known as a risk-sharing facility, makes lending to medium-sized businesses and large firms additional affordable, the EBRD reported.

  • Taiwan Stocks To Rebound, Financial Companies Best Picks

    TAIWAN AREA, 2015/05/03 Taiwan stocks fell on Friday ahead amid worries about increase, particularly in its all-significant tech businesses. However, shares are likely to recover and continue a rally that has added 14% to the major index of the Taiwan Stock Exchange in the completed year, according to a statement last week by Nomura Securities. The index lost 33.78 points to 9,820.05 on Friday. The index has been gaining in part on the performance of semiconductor and other tech shares that are benefiting from ties to Apple and spread of the Internet additional deeply into daily lives through connected appliances and other devices. Taiwan tech companies that have performed well include Taiwan Semiconductor Manufacturing, the chipmaker led by former Forbes Asia Businessman of the Year Morris Chang, whose shares have gained a quarter in the completed year.

  • Chinese stocks were a mixed bag on Wednesday morning

    CHINA, 2015/04/30 Chinese stocks were a mixed bag on Wednesday morning as banking shares were depressed by lacklustre initial-quarter earnings while resource companies surged on new tax reforms. China’s banking sub-index fell 0.9 %, following weak bank results showing additional evidence of a cooling economy and foreshowing earnings announcements by other major lenders later on Wednesday. Bank of Communications Co , the fifth-biggest lender, reported a sharp fall in initial-quarter net interest margin late on Tuesday, while Agricultural Bank of China Ltd (AgBank) , the third-major, posted its slowest quarterly profit increase in six years.

  • Expert says Kazakhstan can abandon dollar in trade

    KAZAKHSTAN, 2015/04/25 Kazakhstan can refuse to use the dollar in trade with its closest partners, Eduard Poletaev, Kazakh expert and political analyst, editor-in-chief of the ‘World of Eurasia’ data and analytical magazine told Trend April 15. “It is completely possible to transfer a part of the agreements and a part of the contracts to national currencies within the bilateral relations or within the Eurasian Union,” said the expert. Poletaev said that it is as well possible to switch to payments in national currency with the nations that have regional strong currencies, for instance, China or Turkey.

  • Fitch expects pressure on asset quality in Kazakh banks

    KAZAKHSTAN, 2015/04/25 Fitch Ratings has affirmed the Long-term Issuer Default Ratings (IDRs) of JSC SB Alfa Bank Kazakhstan (ABK) at 'B+' and AsiaCredit Bank JSC (ACB) at 'B'. The Outlooks are Stable, Fitch Ratings said. JSC SB Alfa Bank Kazakhstan: Long-term foreign currency IDR affirmed at 'B+'; Outlook Stable Short-term foreign currency IDR affirmed at 'B' Long-term local currency IDR affirmed at 'B+'; Outlook Stable National Long-term rating affirmed at 'BBB(kaz)'; Outlook Stable
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