News and Reviews Asian Economic Zone

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News and Economic Review Zone Asia (China)

 

Interest Rate Reduction Seen Will Spice China Property Market

Wednesday, November 26th, 2014

 

China's reduction of interest rates for the first time since the year 2012 is likely to stop the decline in property sales, reduce the inventory of unsold homes from developers who have been burdened by the price.

 

Central bank surprise drop in interest rates on November 21, has added as much as 12% discount on the mortgage bank is on offer for first time home buyers, according to a statement SouFun Holdings Ltd.

 

Sales and house prices in China have slipped this year after doing property restrictions for four years to reduce speculation. Sales declined by 10% in the first 10 months of this year from a year ago, and prices fell in all but 1 of the 70 cities monitored by the government in the past two months.

 

In the quotation from the statement Johnson Hu, who is a property analyst at CIMB Securities Research, he said that the reduction in interest rates is a powerful catalyst for China's property sector. The home buyer will probably see a signal will be stable property market, improving sentiment, melonjakkan home sales and lower the amount of inventory of unsold homes.

 

PBOC reducing the cost of long-term benchmark for more than five years, where it is a mortgage program offered by Chinese banks, by 40 basis points to 6:15%.

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News and Economic Review Zone Asia (China)

 

Profit Industry China Slows In October

Thursday, November 27th, 2014

 

China's industrial profits fell to its lowest level in two years, underlining the conditions in which it takes a more loose monetary policy in countries with the world's second largest economy is.

 

Total profit companies in China fell by 2.1% from a year ago in October, in the report by the Bureau of Statistics in Beijing today. That compared with a 0.4% rise in September and it was the biggest decline since Agusrts 2012, according to data reported previously.

 

People's Bank of China, which last week cut its benchmark interest rate, refrain from selling repurchase agreements in open market operations today for the first time since July, which triggers the possibility of easing monetary policy further. Mired by the downturn in the property sector, excess capacity and deflation in the price of the factory, China is now heading full-year economic expansion slowest since 1990.

 

The data was released on November 13 showed a slowdown in the economy more in October. Factory production rose by 7.7% from a year ago, it was the second weakest pace since 2009, while investment in fixed assets such as machinery to expand at least since 2001, from January to October. Retail sales also did not reach analysts' estimates last month.

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News and Economic Review Zone Asia (Japan)

 

Japanese Automotive Sales Down 5 Months streak

Monday, December 1st, 2014

 

For the fifth month in a row, sales of Japanese automotive products in the domestic market declined. Auto sales for the month of November 2014 amounted to 239.207 vehicles, down 13.5% compared to October.

 

Meanwhile, if compared with November 2013, sales of automotive products (including mini cars with a capacity of 660 cc) fell 9%. Overall, total sales of 416.139 vehicles in November. The fact was revealed a while ago by the Japan Automobile Dealers Association and the Japan Light Motor Vehicle and Motorcycle Association.

 

The automotive sector is constrained by the applicable sales tax increase in April. Largest producer sales figures, Toyota Motor Corp., down 8.5% compared to the same period last year in the number 118.939 units. While sales of Honda Motor Co. decreased 30.4% to 51.475 units and Nissan Motor Co. down 14.0% to 46.076 units. These figures do not include the mini car products. Japan's auto industry still fail to host in their own country. Low interest expenditure citizens make the sales figures of four or more wheeled vehicles declined at the end of 2014.

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News and Economic Review Zone Asia (South Korea)

 

Won Drops to 15 Month Low Level In South Korea Exports Fall

Monday, December 1st, 2014

 

The won fell to its lowest level in 15 months on speculation that the central bank will intervene to oppose weakening the yen after a report showed the value of South Korea's exports unexpectedly contracted.

 

Government data today showed that shipments abroad fell by 1.9% in November from a year ago, compared with the median estimate for a 1.8% rise in a Bloomberg survey. Yen led weakening of Asian currencies in the current quarter after the Bank of Japan increased its monetary stimulus. The Japanese and Korean exporters compete in the international market for products such as cell phones and electronic devices.

 

Hong Seok Chan, an analyst at Daishin Economy Research Instutute in Seoul said that the weakening of the yen should weigh on the minds of policymakers. The weakening won associated with the movement of the yen.

 

Won slipped by 0.5% to 1,113.60 per dollar today. The currency fell as much as 1.1% earlier fell to 1,119.95, it is the weakest level since August 2013, and fell by 0.5% against the yen to 9.3826.

 

Bank of Korea Governor Lee Ju Yeol on November 18, said that the government is aware of the impact on the economy of South Korea from a weaker yen and will act to maintain the stability of the exchange rate if necessary.

 

The value of imports shrank by 4% in November, sending the trade surplus fell to $ 5.6 billion, it is the level at least since September. The yen dropped by 7.8% in the current quarter, followed by a decline of 5.7% won.

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News and Economic Review Zone Asia (Japan)

 

S & P Doubt Japanese Fiscal Consolidation Plan

Tuesday, December 2nd, 2014

 

Standard & Poor's on Tuesday cast doubt on the ability of Prime Minister Shinzo Abe to improve the finances of Japan less than two weeks before the election, after Moody's downgrade of the credit rating of Japan. ABe decision to postpone the sales tax increase for 18 months would probably help the economy in the short term, but there is still no guarantee taxes will go up because of the political dynamics may change after the election, according to Takahira Ogawa, director of rating at S & P. Abe is facing tough times as he held the elections on December 14, which will mennjadi voting that determines whether it is sufficient to raise the fundamental growth prospects.

 

"I may be wrong, but I am not optimistic look at the history of the existence of a detailed fiscal plan," said Ogawa. "Besides, if pemeirntah failed to implement his plan, it would not make sense." S & P has a rating of AA- against Japan, which ranked third below the top AAA rating. S & P rating has a negative outlook on Japan, which means there is a chance of a downgrade. When asked, Ogawa Japanese refused to mengkonfrimasi current rating for the possibility of a downgrade.

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News and Economic Review Zone Asia (China)

 

China's Non-Manufacturing Index Up in November

Wednesday, December 3rd, 2014

 

China's services sector index rose for the first time in three months as a form of aid from the industrial sector in sustaining economic growth in Asia's largest country.

 

National Bureau of Statistics and the China Federation of Logistics and Purchasing on today reported non-manufacturing PMI index rose to 53.9 China in November from 53.8 in October. A reading above 50 indicates expansion.

 

The report showed the service sector, which replaces the manufacturing and construction sectors as the biggest part of the economy since 2012 has helped China to face a decline in the property sector. People's Bank of China cut interest rates last month and yesterday, refrain from transferring funds to the financial system.

 

"It seems that the service sector will provide sustenance for China's growth prospects," said Dariusz Kowalczyk, an economist at Credit Agricole CIB in Hong Kong. "The rebound that occurs mostly on the technical rise of decline lately also reflect conditions in the real estate sector."

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News and Economic Review Zone Asia (Japan)

 

Yen Help Nikkei Performance

Friday, December 5th, 2014

 

Nikkei rebounded after the successful return of a weaker yen encouraged investors to re-collect Japanese exporters. USDJPY traded 120.06 towards the close of the Asian session; seen trying to test the weakest level 7 years gained 120.24 yesterday. If the weakening of the yen continues then this can help improve the competitiveness of Japanese companies in the international market. Shares of exporters monitored rose where Nissan Motor and Fanuc each rose by 1.3% and 1.2%.

 

Itochu shares rose 1% after the release of a report that the Japanese trading company in collaboration with Thailand's CP Group companies to buy shares in Citic Securities, a leading finance company in China. However, stock car air bag manufacturer Takata fell 2% after Canada filed a class-action claims over the air bag problems produced Takata. Nikkei futures rose 0.2% and is now trading at 17 915.

 

However, investors appear reluctant to push up the index is too high as the outbreak of caution ahead of the publication of US employment data later that night. The US will release data on non-farm payrolls and the unemployment rate for the month of November which could provide further guidance on the conditions of the world's largest economy.

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News and Economic Review Zone Asia (Japan)

 

Japan's Current Account Surplus Higher From Estimates

Monday, December 8th, 2014

 

Japan's Ministry of Commerce reported a current account surplus higher than economists' estimates after increasing foreign investment and increased exports make trade deficit shrank. Reported a surplus of ¥ 833.4 billion, well above the estimate of economists surveyed by Dow Jones amounted to ¥ 358.0 billion. Japan has recorded a current account surplus in four months in a row.

 

Reported a primary surplus income of ¥ 2.02 trillion in October, up 48.3% from the previous year, and a record for the largest surplus in October. Shrinking trade deficit shrank 16.9% from a year earlier to ¥ 766.6 billion due to an increase in exports of cars and boats.

 

Other data released by the Cabinet Office of Japan today showed Japan's economy contracted more in the initial release in the third quarter of this year. Japan's gross domestic product fell 1.9% on an annual basis in the period from July to September, is greater than the initial release of 1.6%.

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News and Economic Review Zone Asia (Japan)

 

BOJ Expected to Cut Inflation Target

Tuesday, December 9th, 2014

 

A slow lorises information circulating Bank of japan will lower inflation target is increasing, and will likely be in the next month. Inflation target of 2% is said to be too ambitious.

 

BOJ on 31 October surprised the market by increasing the monetary stimulus into a ¥ 80 trillion from ¥ 60 trillion - ¥ 70 trillion. Steps are taken to reduce the impact of falling oil prices and weak domestic demand, which can reduce inflation. However, oil prices continued to decline and has dropped 15% since the BOJ disburse additional stimulus.

 

Some officials worry the central bank said enegri and electricity cost reduction will lower the core inflation rate is based on the calculation of the BOJ to 0.5% from 1.4% in May. Japan's central bank will provide quarterly projections on 21 and January 22, 2015.

[mynameisandhy]

News and Economic Review Zone Asia (China)

 

Cut Opportunities Amid Slump China Inflation Rate

Wednesday, December 10th, 2014

 

Economists react positively after Chinese inflation data fell to 5 years, in which the fall of CPI and PPI inflation could potentially open up space for policy makers to accelerate reforms needed for the economy.

 

Figure CPI inflation data fell below expectations of 1.4% YoY in the rate of delays in the last 5 years, lower than the previous period at the level of 1.6%. While the PPI index has declined for 33 consecutive months with the rate of decline accelerated to -2.7% from -2.2% the previous month. Sharp decline in inflation indicates a weak domestic demand.

 

Looking ahead despite a rebound in food prices in mid 2015, but overall inflationary pressures are still inclined to decline in 2015. The positive sides of her on commodity prices are getting cheaper but the real economy in need of liquidity that need trimming the benchmark rate of the central bank of at least 50 basis point on the play rate, and 100 bps in the minimum reserve requirement.

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

BoJ Raises Outlook Export Potential

Thursday, December 11th, 2014

 

The Bank of Japan (BoJ) is likely to raise the projected growth of domestic exports to the BOJ's monetary policy meeting next week.

 

Upgrade export outlook is based on the US economic recovery as well as other regional d have spurred demand products made in Japan. Throughout this year, the recovery of export market share retained by the global economic slowdown, including in Japan itself which decreased demand for the impact of the increase in sales tax effective in April.

 

If the level of foreign demand improved, the potential BoJ to maintain assessment of the Japanese economy as a whole is still in a moderate recovery path. In addition, the BoJ is also expected not to change the monetary policy on monetary meeting on 18-19 December to see the effect given to the economy after adding stimulus doubled on 31 October.

[mynameisandhy]

News and Economic Review Zone Asia (China)

 

China PBoC Liquidity Injection Into Banking System

Thursday, December 11th, 2014

 

PBOC China's central bank took steps to boost liquidity in China's banking, by injecting funds amounting to 400 billion yuan, or about $ 65 billion to improve bank lending to support economic activity.

 

The PBoC liquidity injections made by China Development Bank, which membrikan short-term loans to other banks in the interbank market where banks often lend to each other.

 

The addition of liquidity is also done for the previous liquidity injections of 500 billion yuan in China's five major banks will mature in December. However PBoC managed to close the publication injection of funds, which began Wednesday for fear of wrong perceptions in response to injections of liquidity market this as a signal that is too strong to ease monetary policy aggressively.

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

BOJ Will Not Oil Prices Decline Response With Additional Stimulus

Friday, December 12th, 2014

 

Bank of Japan dismissed the notion that additional monetary stimulus is needed to prevent a decline in oil prices in recent months have dragged down the rate of inflation, according to a source close. To date, the BOJ officials considered that the decline in energy prices might reduce the rate of consumer inflation for the time being, but will stimulate the economy by fueling inflation, according to the source. BOJ still do not agree on how much capacity should be added to the central bank on its government bond purchase program, according to some sources. The decline in oil prices to a level of 5-year low this month reproduce barriers to Haruhiko Kuroda BOJ Governor and his colleagues as they try to achieve the inflation target of 2% next year. Discussions about wages between employers and labor leaders will be important to measure the rate of consumer inflation outlook, according to the source.

 

"The BOJ is not likely to add stimulus in January," said Hiroaki Muto, ekonm at Sumitomo Mitsui Asset Management Co. "They would argue that oil prices will have a positive impact on the economy and their revisions to the outlook for inflation was only a little." BOJ officials want avoid the perception that the central bank will take steps when oil prices fell, the source said. the meeting on 31 October showed the BOJ's commitment to achieve their inflation targets, he said.

[mynameisandhy]

News and Economic Review Zone Asia (China)

 

PBoC: China GDP Growth Rate Slows to 7.1% Potential

Monday, December 15th, 2014

 

Researchers and economists predict the central bank of China's economic growth rate may slow down in the coming year.

 

The pace of China's GDP is expected to slow to 7.1% in 2015 from 7.4% in the year 2014 with the fall of the domestic property sector weighed on overall economic activity. Fall of the property sector may impact on construction activity and the rate of demand on raw materials key materials such as steel and cement.

 

This condition is also referred to as a state of "new normal" to reflect the government's efforts to tackle pollution and energy savings in order to achieve a more sustainable economic expansion. In addition PBoC also see the risk of associated external timing reference interest rate hikes that the Federal Reserve can affect emerging economies.

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News and Economic Review Zone Asia (Japan)

 

Japan Tankan Survey Thin Down in Fourth Quarter

Monday, December 15th, 2014

 

Sentiment large factories in Japan was slightly worse in 3 months hinga December but still robust corporate spending plans, according to a central bank survey showed uneven recovery triggered by stimulus policies Shinzo Abe. Factory sentiment index fell by 1 point from three months earlier to +12 in December, according to a quarterly survey "Tankan" of the Bank of Japan on Monday. This figure compared with estimates at +13.

 

The companies of taking a plan to increase the level of capital spending as much as 8.9% in the current fiscal year ending in March 2015, according to survey results. Tankan sentiment Idneks obtained by subtracting the number of respondents who said conditions deteriorated with the said conditions improved. A positive result means that the number of respondents are more optimistic than pessimistic.

[mynameisandhy]

News and Economic Review Zone Asia (China)

 

Economists Predict PBOC 2015 GDP Slows To 7.1

Monday, December 15th, 2014

 

China's economic growth will likely slow to 7.1% next year as the slowdown in the real estate sector investment continues. While the rate of growth may be slowing, the outlook for employment and inflation rate remained stable, and labor market conditions will not be a major concern, said Ma Jun, the chief economist at the research center of the People's Bank of China. Projected growth in comparison with the central bank's forecast for growth of 7.4% this year, the slowest pace since 1990. "The pressure dropped due to the slowdown in the real estate sector investment" that will cut a boost to the growth of the export sector, according to Ma.

 

The second largest economy in the world is showing signs of continued weakness last month to plant closures add to the low level of demand. The rate of growth in the export sector is expected to reach 6.9% next year, while consumer price inflation will reach 2.2%, according to Ma. Data last week showed exports rose as much as 4.7% in November from a year ago, while the level of imports fell unexpectedly amid weak demand levels.

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News and Economic Review Zone Asia (China)

 

HSBC China Manufacturing PMI By contract in December

Tuesday, December 16th, 2014

 

Factory output in China back down for the second consecutive month in December, adding to concerns over the slowdown in activity in the second largest economy in the world and reinforcing expectations of additional stimulus measures needed to avoid a sharper slowdown. China's PMI of manufacturing sector from HSBC / Markit fell to 49.5 from 50 in November, contracted for the first time in 7 months.

 

"This means China closes the year with a sharp slowdown," said Frederic Neumann, MD and deputy head of the HSBC Asian economies. "We saw a contraction in the manufacturing sector. In fact, the number of new orders refer to further weakness. I think China should return policy loosening." "We think the growth rate next year will be around 7.3%, but depends on further easing from the central bank," added Neimann. "If they continue at current rates, the possibility of the growth rate will drop to a level of around 6%, so that additional policy easing and interest rate cuts are needed to boost the economy."

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News and Economic Review Zone Asia (Japan)

 

Japanese Export Sector Growth Rate Slows

Wednesday, December 17th, 2014

 

Japan's export sector grew for the third month in November from a year ago, but much slower than expected and despite a sharp decline in the exchange rate of the yen as slowing demand in Asia and Europe to press trade. Sebeasr 4.9% rise in the level of exports is much weaker than the estimated increase of 7.0% by economists, and slowing of the increase of 9.6% in October, according to data from the Ministry of Finance. The weakening in the export sector may exacerbate the impact of the sales tax increase last April which drive the economy into recession in the second contraction in the third quarter.

 

"The level of exports to Asia and Europe is weak. Exports to Europe fell as a result of the attention focused on Russia, but the slowdown in Asian exports may only temporary reaction to the rise in the sharp rise in October, driven by a single factor such as the export of ships to Singapore," said Hiroshi Watanabe, senior economist at SMBC Nikko Securities. "I still estimate the level of exports will remain strong as the US economy continues to help trigger output in Asia and Japan. It will be welcomed by the Japanese government."

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News and Economic Review Zone Asia (Japan)

 

Bank of Japan: Inflation will Loss in First Half 2015

Friday, December 19th, 2014

 

2% inflation target announced by the Bank of Japan (BOJ) is still far from reality. In his statement a few moments ago, BOJ Governor Haruhiko Kuroda, asserts that the increase in the prices of goods / services will not happen in the first half of 2015.

 

The central bank considers Japan is facing new challenges in achieving its inflation. The decline in oil prices on a large scale is predicted to inhibit the rise in prices, at least until the end of the first semester "Taking into account the downward trend in world oil prices, it is difficult for Japan to meet the inflation target," he said in a press conference after the regular meeting. For the record, in its meeting of the BOJ did not change interest rates.

 

Kuroda also dismissed the issue of the release of an additional stimulus to accelerate the domestic economy. The central bank is still optimistic the current policy is in line with the inflation target of 2%, which can be achieved coveted around March 2016. "The transition from deflation in the field of climate goes according to our expectations," said the BOJ's boss. He also claimed the citizens and businesses of Japan pretty confident looking forward trend of rising prices in the next few years.

 

BOJ in recent weeks receiving heavy criticism from economists and finance for being silent while the lower oil prices. Commenting on it, Kuroda affirmed the oil price movement has entered into a plan of inflation which is running now, especially after the policy last October. "The price of oil is going to hamper inflation in the short term, but for long-term low oil prices will support the economy," Kuroda said. Head of the central bank believes that economic growth due to the weakening of oil will lead to an increase in prices. In short, the long-term inflation will terkerek by economic factors, not the correlation of oil prices and the market price.

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News and Economic Review Zone Asia (South Korea)

 

South Korea Cuts 2015 Growth Projections

Monday, December 22, 2014

 

South Korea cut its growth forecast and said it would revise capital controls in anticipation of rising US interest rates and other external risks to the economy is the fourth largest in Asia. The economy is expected to expand by 3.8% next year, lower than the estimate by 4% in July, according to the Minister of Finance, related to the level of domestic demand is lower than expected. The Minister of Finance may revise the rules in 2015 on currency forwards and foreign currency liabilities to prevent excessive outflow, according to the statement.

 

South Korean domestic economic conditions have weakened since last July, said Minister of Finance, and increased market volatility due to the weakening of the yen and the US rate hike speculation can cover the outlook for growth. President Park Geun Hye has loosened rules and launched stimulus housing loans worth 31 trillion won and reached a record budget separately in 2015 to encourage the growth rate. "Our policy remains expansionary, but consumer sentiment and investment in the private sector is not improving as it should," said Lee Chan Woo, Director General of the Ministry of Finance.

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News and Economic Review Zone Asia (China)

 

Investigation Shares Weight the Chinese Stock

Tuesday, December 23, 2014

 

China's Shanghai Composite Index fell as much as 2.2% at the opening, as traders focus on news that Beijing was investigating the possibility of manipulation of stock prices. Security agency on Friday said it had conducted investigations against 18 shares, but does not explain the reason for the investigation. Much more shares owned by the company under investigation is small, such as a car tire manufacturer in eastern China's Shandong province. In Hong Kong, the Hang Seng index rose as much as 0.2 successfully unlocked% on Tuesday, near the highest level since Dec. 12.

 

Dalian Wanda Commercial Properties shares opened higher by 0.2% leading to HK $ 48.10 in his first debut, compared to the initial price at HK $ 48. Chinese real estate developer company, belonging to billionaire Wang Jianlin, managed to collect 3.7 billion in an initial public offering that makes the shares become the largest IPO in Hong Kong since 2010. Shares of Sun Hung Kai Properties rose 0.7% after the trial of corruption cases meliibatkan company officials ends last week. Judges will announce the charges, which can make Thomas Kwok and Rafael Hui was sentenced to 7 years in prison respectively for proven corruption.

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News and Economic Review Zone Asia (Japan)

 

Aso: Wage Increase Key Success 'Abenomics'

Wednesday, December 24th, 2014

 

Japanese Finance Minister Taro Aso on Wednesday urged the companies to raise wages to sustain private sector consumption, stressed that efforts of the private sector is key to the success of the policy stimulus "Abenomics" of Shinzo Abe. He also asserted the need for fiscal reforms to prevent the exercise of market lost confidence in the Japanese financial sector, after delaying the sales tax increase next year. "The eyes of Abenomics third arrow will not be successful unless the companies indicated their intention to cooperate and raise wages," Aso said in a press conference

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News and Economic Review Zone Asia (China)

 

China Will Expand Scope of Private Banks in 2015

Wednesday, December 24th, 2014

 

China will extend the pilot program next year to allow the establishment of a pure private banks and loosening the rules of entry of private capital to the banking sector, according to the head of the China Banking Regulatory Commission (CBRC), Shang Fulin. China Securities Journal on Wednesday reported Shang said at a meeting that CRBC will add a new channel next year which could allow private capital to invest in the banking sector, including expanding the scope of the pilot program for banks and consumer finance companies private.

 

Shang statement following a public commitment to increase the participation of private capital in the financial sector in order to increase efficiency and reduce the risk of bad debts of the central government to the state-owned banks. The recent stock market rally has a new funding stream from individual and institutional investors in banking stocks, which performance is improved lately.

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News and Economic Review Zone Asia (Japan)

 

Minutes: BoJ Officials Worried With Additional Risk Stimulus

Thursday, December 25th, 2014

 

BoJ Minutes were released this morning showed that some central bank officials worry about the risks that can be caused by extra monetary easing that has been executed. One of the BoJ officials have called for efforts to menimalkan risk with operational policies more flexible market according to market conditions. However, the minutes show that monetary policy changes to the initial conditions in a short time can damage the credibility of the central bank.

 

Minutes of the meeting minutes of the meeting on November 18 to 19 past where the BoJ does not change its monetary policy after a surprise add monetary stimulus to 80 trillion yen per year at a meeting in late October. November meeting showed their support 8 votes in favor of the current BoJ policy and only 1 against. It is quite good when compared to the October meeting where only 5 officials who support the policy of the central bank, while four other officials oppose.

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News and Economic Review Zone Asia (Japan)

 

BoJ Kuroda Stay Confident With Japan's economy

Thursday, December 25th, 2014

 

Bank of Japan (BoJ), Haruhiko Kuroda, said the decline in oil prices will provide significant benefits to the Japanese economy and will also help in the long-term rise in inflation. "Japan continues to show improvement to eliminate deflationary mindset," said BoJ Kuroda urged the business community while raising wages to ensure the end of deflation that has undermined the economy in the last decade.

 

Kuroda also pointed out additional stimulus BoJ conducted at the meeting late October is not a response to the fall of oil prices. "To dispel misunderstandings, I want to clarify that additional stimulus is not a response to the fall of oil prices," said Kuroda. The BoJ has surprised the market by announcing additional monetary stimulus to 80 trillion yen per year at a meeting in late October. At the November meeting, the BoJ did not change its monetary policy.