News and Reviews Asian Economic Zone

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

BOJ: Inflation 2% Not Be Embodied In Instant

Thursday, February 28, 2013

 

Bank of Japan Policy Board to re-strengthen the commitment setting an inflation target of 2%. But as soon as the authorities admitted that the implementation, achievement of targets is not something easy.

 

"I did not change my perception of inflation, but it should be remembered that the application must be difficult," explained board member before Takahide Kiuchi Yokohama city businesses today. His comments came after the government proposed the name Head of the Asian Development Bank, Haruhiko Kuroda, a strong candidate for governor of the Bank of Japan and Professor Kikuo Iwata as deputies. Both these figures are much the day bragged to realize the target of 2% inflation in just two years.

 

The increase marks the end of the inflation target drastically decreasing trend in consumer prices in Japan. Earlier, just after the central bank hikes rates by 0.9% in fiscal year 2014. During this Kiuchi itself is one of the few figures in a very pro BOJ board with loose monetary policy. But he was pessimistic inflation target of 2% can be implemented quickly. Because the level is far above the range consistent with price stability creation efforts. If keeping him, Kuichi estimate precisely the effect is very small or no perceived economic actors.

 

Japan's economy and export growth was slow, so that the extreme inflation targeting can interfere with the credibility of the policy itself and inhibits communication with financial markets. Kiuchi therefore prefer to raise the inflation target in line with signs of economic progress rather than force it.

[mynameisandhy]

News and Economic Review Zone Asia (China)

 

China Manufacturing Sector in February eased to 5 Month Low

Friday, March 1, 2013

 

Growth in China's manufacturing sector eased in February to a low level after 5 months of domestic and foreign demand dropped, the government pointed to a survey on Friday, which missed market estimates and memperlihaykan that China's economic recovery is slowing.

 

Official data PMI fell to 50.1 after seasonal adjustment, central bureau of statistics reported there, down from January at 50.4 points and is the weakest since September 2012.

 

"February PMI continues melemahm indicate economic growth is being switched from a steady recovery," said Zhang Liqun, an analyst from the Development Research Center.

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

Kuroda Spell Idea The Aggressive Policy

Monday, March 4, 2013

 

Nominations Japanese government as the next central bank governor expressed draft a more aggressive policy on Monday to beat deflation, said he would not limit the amount of money that will be channeled by the Bank of Japan into the economy. Strengthening the expectation that he would be an aggressive governor, Haruhiko Kuroda said at the government's current policy of the BOJ is not strong enough to push inflation up to 2%, the target says central bank should be achieved within 2 years. Kuroda suggests the most natural way to increase the central bank stimulus to the economy through the purchase yitu massive, long-term government bonds. BOJ also should consider the fatherly start asset purchases without limits early, rather than waiting until the scheduled time of 2014.

 

"Actually, a natural for the BOJ to buy long-term government bonds in large quantities," said Kuroda. "But the central bank also need to consider current market developments, as well as the potential for a decline."

[mynameisandhy]

News and Economic Review Zone Asia (China)

 

Apply Chinese Government's New Policy On Housing Sector

Tuesday, March 5, 2013

 

Unexpectedly, the Chinese government took the new policy to limit speculation in the housing market over the weekend, triggering a global stock correction.

 

Besides China's central bank / PBoC set a level middle exchange rate of the yuan against the U.S. dollar lower ahead of the annual meeting of China's congress will set the budget and the government issued a new arrangement under President Xi Jinping.

 

Various Chinese real estate stocks fell sharply while the stock market suffered its biggest daily fall in 28 months due to the policy of the new government.

[mynameisandhy]

News and Economic Review Zone Asia (China)

 

Take China Economic Growth at 7.5%

Tuesday, March 5, 2013

 

The Chinese government announced today in the economic growth target of 7.5% for 2013. In order to realize these ideals, Beijing is ready to disburse the funds in fiscal spending large amounts.

 

The attitude of the government was delivered by Prime Minister Wen Jiabao in a speech ahead of the opening event of the annual parliamentary meeting. Wen affirmed his country set a fiscal 2013 deficit target of 1.2 trillion yuan ($ 192.8 billion), equivalent to 2.0% of the total gross domestic product (GDP). The deficit this year is greater than the 2012 record deficit worth 1.6% of GDP in figure 850 billion Yuan.

 

In the second half of last year, the government has poured funds infrastructure spending about $ 150 billion to finance the construction of important infrastructure projects in the region. Stimulus initiatives that can improve report card annual economic growth to 7.8% or 7.5% above the target. Shopping for rail transport plays a major role in achieving the target of China's economy in recent years. Beijing even rumored to be ready to add a new rail line along the 5200 km this year, according to a document released by the National Development and Reform Commission (NDRC).

 

Freshly prepared fundraising program launched by the Ministry of Finance, through the addition of a quota of bonds issued by the government of 250 billion Yuan (2012) to 350 billion Yuan. Party center will also tighten rules and local debt financing to minimize the possibility of improper activity. Because the total government debt has ballooned to 10.7 trillion yuan by the end of 2010. Since the financial crisis of 2008 took place, local governments raise troop pandanaan to build infrastructure and conduct other economic recovery programs.

[mynameisandhy]

News and Economic Review Zone Asia (China)

 

China's central bank will sweep flow currency operations Open Market

Wednesday, March 6, 2013

 

China will use operations Open Market (Open Market), including the purchase of securities and debt securities the central bank, to sweep the excess liquidity of foreign currency movements, said the deputy governor of the People's Bank of China, Yi Gang on this Wednesday.

 

Yi add additional targets for growth in M2 money supplies this year is appropriate.

Yi told reporters after the annual meeting of China's parliament, the National People's Congress.

[mynameisandhy]

News and Economic Review Zone Asia (China)

 

China Rate Increase Depends on Economic Data First Quarter

Wednesday, March 6, 2013

 

Financial market participants amid examine possible changes in China's monetary policy in the near future, in particular include changes in interest rates. According to the adviser People's Bank of China (PBOC), the execution rate hike will depend on the outcome of economic reports in the first quarter.

 

"All depends on economic growth and consumer price index," said Chen Yulu, Professor of Economics who is also a member of the advisory board of the PBOC. Opinion was ejected in response to questions about whether the media crew that interest rates will be raised this year by the PBOC.

 

Speaking in the National People's Congress, Chen said his country will face tremendous inflationary pressures in the second half of 2013. It is the consequence of all the quantitative easing being imposed by central banks around the world. "The situation is terrible currency war and China is clearly a victim," explained Chen. To achieve the target of consumer price inflation of 3.5% this year, said China must start to control the money supply. The government itself has cut its M2 (money supply leading indicator) at 13% for 2013. The ratio is lower than last year's target of 14%. Chen said that the decline in the money supply targets due to government concerns on inflationary pressures.

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

Hold Yourself, BOJ Wait a New Leader

Thursday, March 7, 2013

 

Bank of Japan today held a regular meeting last before the fall of the chair governor Masaaki Shirakawa. Monetary authorities to maintain its policy, as well as the intervention of a new governor will be.

 

The central bank kept interest rates at 0.0-0.1% and did not change the portion of the purchase of assets worth 101 trillion yen ($ 1.08 trillion) by the end of the year. The results of the meeting in line with the predictions of 10 analysts surveyed by Dow Jones Newswires had some time earlier. USD / JPY fell from 94.08 to 93.85 after the decision.

 

Members of the board of governors could throw some ideas to improve the effectiveness of the policy. Sayuri Shirai asked immediately activates the central bank asset purchase program that was scheduled to begin in 2014. The policy said could strengthen other programs that have been running the money market operations. While other members, Ryuzo Miyao, also asked the central bank to keep interest rates near zero percent until visible signs of an inflation target of 2% can be achieved. But both ideas were rejected by the board by a wide margin is final.

[mynameisandhy]

News and Economic Review Zone Asia (China)

 

China Post the surprise trade surplus

Friday, March 8, 2013

 

China posted a trade surplus in February, according to data released this Friday, beating expectations that the economy may be affected by deficits related to the Chinese New Year holiday last month. The trade surplus reached 15.3 billion U.S. dollars, narrowed from January at $ 29.15 billion surplus figure.

 

Japanese Yen and Australian dollar moved lower after the data was released, as well as China's stock exchanges, the Shanghai stock index traded down.

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

Balance Deficits Undermine Japanese Yen

Friday, March 8, 2013

 

Expectations of aggressive monetary easing under the new leadership of the Bank of Japan to be taken over by the end of the month, has been pressing the yen down to its weakest level in 3 ½ years.

 

In the trade this weekend (Friday, 8/3), USDJPY moved in the range of 95.30-an after shot up to 95.43. And the more depressed the yen after Japan's trade balance data (trade balance) appears on the numbers getting worse in the last two years primarily due to the impact of the strong yen and rising import fuel after the nuclear crisis in March 2011.

 

Current account deficit figures appeared at the level of Y364.8 billion in January, after a deficit of Y264.1 billion in the month of December. Current account rate is the benchmark or the largest size on the value of Japan's income from foreign trade and investment.

 

Despite these numbers appear better than the expectations of economists and analysts who predicted the deficit will amount Y626.0 billion ($ 6.6 billion). Despite the weakening of the yen should raise long-term data for Japanese exports cheaper abroad, economists say that the impact of increasingly high cost of imports, especially energy, will lead to increasingly bloated deficit figures.

[mynameisandhy]

News and Economic Review Zone Asia (China)

 

Luxury Cars in the land-selling Sweet China

Monday, March 11, 2013

 

Population 'the rich' in China continues to increase from year to year in line with the country's economic acceleration. Communities rich people are now easily found anywhere, from an academic background and professional groups are different. But they all have the same characteristics: require luxury goods to show their economic status.

 

China is a market selling goods the world's largest premium class. Rapid economic growth of the economically successful societies spawned on the amount is not little. To show the existence in the world of socialites, a lot of people who like to buy expensive items, ranging from jewelry, bags, branded clothes and of course the cars worth hundreds of thousands of dollars.

 

Trend consumerist society and culture of China as a market drove sales of luxury cars on board the world. In 2016, the bamboo curtain country is expected to overtake the United States in matters of consumer branded vehicle premium. Sales of luxury cars in the country surged by 36% per year in the past decade. The ratio of increase exceeds the increase in vehicle sales figures were only a combined 26% per year.

[mynameisandhy]

News and Review of European Economic Zone (Germany)

 

German Economic Recovery Phase Closer

Tuesday, March 12, 2013

 

The German economy closer to the brink of recovery in recent months after suffering a decline towards the end of last year, according to a monthly report published German Economy Ministry on Monday.

 

"The German economy is on the verge of recovery," the ministry said in a report. "Development of a recession in the euro zone is not resolved, but there are some signs of stabilization. Gradual recovery may be seen in the second half of 2013."

 

"The German economy is still in very good condition, despite weak growth trend over the past year," according to the German Economics Ministry. "A recovery in early spring may still occur."

 

Increased confidence in the Euro zone and signs of recovery in the global economy, especially in emerging markets, the basis of estimates of the Ministry of Economy of Germany. The German economy contracted 0.6% in the 4th quarter of 2012. While members of the board of the European Central Bank, Joerg Asmussen, said last week that the German central bank projected the economy will return to show growth in the first quarter of 2013.

[mynameisandhy]

News and Review of European Economic Zone (Italy)

 

Italy is still mired in recession Canyons

Tuesday, March 12, 2013

 

The rising cost of government borrowing and the continuing increase in taxes has made the Italian economy slumped in the recession for six consecutive quarters. 3 largest economy in the euro zone contracted 0.9% in the last quarter of 2012 and the government has predicted the recession will continue for another two quarters. Weak economy cuts Italy also confirmed by Italy's credit rating by Fitch at the weekend. Fitch cut the ratings of Italy from A-to BBB + with a negative outlook.

 

The poor state of the Italian economy emphasize the economic recession that hit the euro zone. Today's data also show an annual GDP of Greece and Portugal are each contracted 5.7% and 3.8% in the fourth quarter of 2012. Meanwhile, the euro looks less reinforcement in the London session. EUR / USD is now trading 1.2995; trying to avoid high levels of daily 1.3023

[mynameisandhy]

News and Review of European Economic Zone (UK)

 

UK Manufacturing Production Falls Sharply

Tuesday, March 12, 2013

 

Report of UK manufacturing production fell sharply in the month of January in the fall fastest rate since June, spurring fears of economic slowdown in the UK.

 

Based on the Office for National Statistics report, UK manufacturing output fell -1.5% due to under estimation of 0.0% and lower than the previously reported +1.5% largely due to the closure of the UK North Sea oil refineries that account for about 3-6 per cent of the UK oil production.

 

Overall the UK manufacturing sector in the contraction phase, and increased risk of UK recession for the third time since the financial crisis of 2008. Figured this data helped weigh on investor sentiment ahead of the annual budget George Osborne in front of the British parliament next week. On the positive side, the English trade deficit shrank in the month of January to the lowest level since July.

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

Abe Japanese Economy Promises A More Powerful

Tuesday, March 12, 2013

 

Prime Minister Shinzo Abe stressed to accelerate the development of post-earthquake, tsunami, and nuclear crisis that hit Japan two years ago. Abe also promised the Japanese economy will be stronger in his reign. "Our ancestors have been through many trials and they become stronger," said Abe will express Japan's stagnant economy recover and restore the pride of the Japanese people.

 

Abe uttered will accelerate the reconstruction of the affected areas. "The reconstruction process takes time," Abe Tuur the government budgeted $ 260 billion over five years for reconstruction projects. Abe also plans to activate a nuclear reactor is shut down if it meets safety standards.

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

Iwata, New BOJ Deputy Governor Candidates to opposition from the Opposition

Wednesday, March 13, 2013

 

Kikuo Iwata, one of Prime Minister Shinzo Abe's nomination for vice-governor of the Bank of Japan, would probably struggle to win enough votes after the largest opposition party rejected his nomination.

 

Democratic Party of Japan (DPJ) will provide the voice for Iwata, although they also support Haruhiko Kuroda as the central bank governor and Hirosho Nakasi as lieutenant governor, according to a statement from DPJ lawmakers who do not want to be named before an official announcement today. Nakaso and Iwata completed their parliamentary session today after testimony from Kuroda yesterday.

 

Abe needs a lot of support for winning candidates through the upper house of parliament, where his party the Liberal Democratic Party (which leads the coalition) does not have a majority. Iwata, who pushed the discourse to a greater scrutiny from the government to the central bank, can still win the election if the majority of members of parliament DPJ violating party or minor party wishes to vote for him.

[mynameisandhy]

News and Economic Review Zone Asia (China)

 

Uncertainty Shadowing PBOC Governor Election

Thursday, March 14, 2013

 

Governor of People's Bank of China, Zhou Xiaochuan, said Wednesday that he was not sure whether to return the central bank is believed to be captain or not. In the same occasion Zhou also signaled concern about the inflation rate in 2013.

 

"There are procedures that must be done before setting terlabih first governor of the PBOC," Zhou said at a news conference. "And now I myself can not be sure."

 

The legislature of China, the National People's Congress, is scheduled to hold a new election for several ministries, including the central bank, on the coming Saturday. But Congress has no real power to seek approval and maintain consistency in order to ensure sound support one of the candidates, before being appointed by the supreme leader of the Communist Party.

 

Wall Street Journal previously reported that Zhou may return trusted to lead the PBOC despite having reached the age of retirement, 65 years old, established by Act of China as part of efforts to ensure continuity of government policies. Zhou is widely regarded as a competent figure, market-oriented reformers have pushed such growth initiatives gradually loosen controls on trading the Chinese currency, Yuan.

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

Former Japanese Finance Minister: Dollar May Not Be Surpassed 100 yen

Friday, March 15, 2013

 

Almost impossible for the U.S. dollar to strengthen to over 100 yen, according to one senior matan Japan on Friday, adding that if the dollar-yen exchange rate is now likely to have stabilized.

 

Speaking at a conference in Singapore, former Japanese Finance Minister Eisuke Sakakibara, said that if the depreciation of the yen is almost over. Sakakibara once dubbed "Mr. Yen" because of its effect on the Japanese currency exchange rates over the period 1997-1999.

 

The greenback has appreciated about 11% against the yen so far this year, following the Japanese currency depressed by expectations of more aggressive monetary easing from the Bank of Japan's new.

 

But Sakakibara said he was not sure if the yen could go far higher. "I think the depreciation of the yen was nearing its end, and will trade in the range of ¥ 92 and ¥ 97 - ¥ 98," he said. "Dollar-yen is likely to exceed the level of 100 yen is almost impossible, given the market has finished anticipated easing aggressive BoJ and also surprisingly strengthening of the United States."

 

Sakakibara also argue that if Japan would be very difficult to meet the inflation target of 2%, which he said would bring the risk of bubble on the financial side.

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

Japan Finance Minister: Intervention No Longer Being a Tool of Government Policy

Monday, March 18, 2013

 

In a speech to parliament, Japan's finance minister on Monday said that direct intervention in the currency market is no longer a tool of government policy. The comments indicate if the Finance Ministry has been bound by the G7, where members have committed to not using the intervention as a means to control the exchange rate.

 

If that happens, the Japanese government will likely depend on the actions of the Bank of Japan to curb the rise of yen in the future.

 

"Today, government intervention in the foreign exchange market has been banned. Basically I'm sure you know what that means, but officially, we are not allowed to do that," said the Minister of Finance of Japan, Taro Aso.

[lilq]

what's the lastest on the yen, I've been on the sideline for a while.

[mynameisandhy]

News and Economic Review Zone Asia (China)

 

Meet the President of China, Finance Minister Lew stretcher Important Events

Tuesday, March 19, 2013

 

Finance ministers of the new United States of America, Jack Lew, and president of China, Xi Jinping, will meet on Tuesday (19/03). Both will be met in the midst of high tension between the U.S. and China critical last few months, especially with respect to the issue of cyber hacking, currency depreciation and open market access.

 

Meeting with Lew will be the first formal agenda Xi with top government officials of other countries since he first became president. A visit to China is also an important political agenda Lew's first since he took over the chair of Minister Timothy Geithner. Referring to the similarities, the two countries seem to consider it important to each other and intended to produce a productive collaboration in the future.

 

According to Prime Minister Li Keqiang, the Chinese side wanted a new form of cooperation with the United States and intend to stop cyber war between the two countries. During this action hack another looming US-China, particularly those intended to attack government websites. A private U.S. security company computer last month called the Chinese were behind a series of hacking. President Barack Obama phoned Beijing to question it. Jack Lew even directly speaking to the media and asked China not to make the country a target of cyber crime. In contrast, China is claiming that it is that has been the target of hacking U.S.

[mynameisandhy]

News and Economic Review Zone Asia (South Korea)

 

South Korea Back Become a Victim of Cyber ​​Attacks

Wednesday, March 20, 2013

 

The hackers temporarily shut down the computer at the station and banks in South Korea's largest cyber attacks in the country in the last two years, prompting the government to investigate the possible association of this incident with North Korea.

 

The government of President Park Geun Hye has set up a cyber crisis group for investigating whether North Korea will be responsible for the issue, the statement came from his office. Korea Communications Commission said in a statement is a company - a company that its computer network was shut down today Shinan Bank, Nonghyup Bank, Munhwa Broadcasting Corp., YTN and Korean Broadcasting System

 

This attack comes less than a month after the Park became the president of the country with the fourth largest economy in Asia, and amid growing friction over North Korea's nuclear program. Kim Jong Un's regime, which detonates a nuclear device in February, recently threatened to attack the U.S. with nuclear weapons and today it warned would retaliate if the U.S. still flying B-52 bombers over the Korean peninsula.

 

"It is difficult to immediately find out who is doing this but normally the suspect North Korea," said Park Choon Sik, a cybersecurity professor at Seoul Women's University. "Cyber ​​attacks are the weapon much easier for North Korea because they cost much less than a missile or nuclear test, but it will only make people more frantic. Moreover, they can do so at any time without having to worry about international sanctions.

[mynameisandhy]

News and Economic Review Zone Asia (China)

 

China Manufacturing Jumped in March - HSBC

Thursday, March 21, 2013

 

Business conditions in the manufacturing China back megalami increase in March after nearly shrinkage in the previous month, according to data released by HSBC on Thursday (21/3).

 

Figures manufacturing activity PMI (Purchasing Managers' Index) for the month of March which is calculated by HSBC appears at level 51.7, up from 50.4 in the previous February. A reading above 50 indicates an expansion in the sector.

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

Sure Kuroda Reaches 2% Inflation Target

Friday, March 22, 2013

 

Bank of Japan Governor Haruhiko Kuroda said that he believes himself to achieve the inflation target of 2 percent, he denied that anyone had predicted his business would fail as he is preparing to strengthen its monetary stimulus.

 

"We will do anything to achieve the inflation target of 2 percent as soon as possible," Kuroda said today in a press conference after taking over the leadership of the BOJ. Kikuo Iwata, who was a deputy, told reporters that the bank should commit itself to achieving the target of consumer price increase in two years.

 

Campaign against deflation Kuroda mendatangangkan criticism, even before he started his business, this reflects that the discussion over whether monetary policy is able to lift Japan out of stagnation. Eisuke Sakakibara, a former finance minister who is also co-Kuroda, said that he would fail to achieve its goals, and a former BOJ board member Atsushi Mizuno said that he hit the wall "reality" as more bond purchases will increase the risk for menggelumbunganya (bubble) market .

 

The new BOJ governor said today that no signs of asset bubbles, and he reiterated that the BOJ is ready to make unlimited purchases of assets, which will begin next year. Kuroda refused to comment on whether he would hold an emergency meeting, prior to the meeting on 3-4 April.

[mynameisandhy]

News and Economic Review Zone Asia (South Korea)

 

South Korea Increasingly Anxious Weakening Against Yen

Monday, March 25, 2013

 

South Korean Finance Minister in the new, Hyun Seok Oh reviving concerns about the weakening yen and said that the G20 group should re-consider the matter. "Japan's expansion policy has diverse effects on many countries," said Hyun told reporters in Bundang, on the second day served as finance minister. "The yen weakened while the won strengthened and this is bad for the Korean export sector."

 

Japan's central bank Governor Haruhiko Kuroda will soon menambar monetary easing, continued efforts to combat deflation triggered by 11% weakening of the yen against the dollar in the last 3 months. South Korea showed concern about the weakening yen before and after the G-20 meeting last month in Moscow, where they are reluctant to criticize the policy of Japan.

 

"The South Korean government is now aware of the negative impact of the depreciation of the yen on the economy is not small," said Lee Sang Jae, an economist at Hyundai Securities Co. in Seoul. "These countries are currently berlombat, not complementary," said Lee. The South Korean government cemasa against weaker yen as the country's economic growth is still dependent on the export and compete in foreign markets with manufacturing cars and electronics from Japan. At a meeting in Moscow ago, the G-20 group of countries promised to "do not use exchange rates to compete," without being offensive to the weakening Japanese yen.