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China cuts Treasury holdings to lowest since 2010
January 18, 2017--Beijing's efforts to stabilise its currency threaten to push interest rates higher.
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Source: FT.com
IMF Working paper-Korea's Challenges Ahead-Lessons from Japan's Experience
January 18, 2017--This paper draws out the parallels between Korea and Japan in terms of demographics, potential growth, balance sheets, asset prices and inflation. Korea's demographic trends seem to track Japan's with a lag of about 20 years.
Low productivity in the service sector and labor market duality are common to both countries and need to be addressed with structural reforms. While Korea's corporate balance sheets are stronger than Japan's in the early 1990s, Korea needs to progress with the restructuring of nonviable firms to avoid the adverse consequences of delayed balance-sheet repair that Japan experienced. Given its strong fiscal balance sheet position, Korea can afford using fiscal policy actively to incentivize corporate restructuring and structural reforms and cushion their possible short-term adverse impact. Korea can prevent bubbles in asset prices that were at the origin of Japan's initial crisis with the continued use of macroprudential policies. Although Korea does not appear to be headed toward deflation, new econometric analysis presented in the paper suggests that aging will exert a downward drag on its inflation going forward.
view the IMF Working paper-Korea's Challenges Ahead-Lessons from Japan's Experience
Source: IMF
World Bank: Improved effectiveness of spending in Indonesia can boost growth in 2017
January 17, 2017--Indonesia's reforms to fiscal policy and the investment climate are expected to boost the economy-projected to grow at 5.3 percent in 2017-according to a new World Bank report released today.
Like the rest of the world, Southeast Asia's largest economy faces intensifying risks, such as uncertainty in global economic policy and global financial market volatility, says the Indonesia Economic Quarterly, January Edition.
view the World Bank January 2017 Indonesia Economic Quarterly-Sustaining Reform Momentum report
Source: World Bank
BetaShares launches Global Sustainability Leaders ETF (ASX: ETHI)
January 17, 2017--We're proud to announce the launch of the Global Sustainability Leaders ETF (ASX: ETHI)' the first global equities ETF available on ASX that uses a broad set of ethical eligibility screens.
ETHI invests in 100 large global stocks from developed market countries (excluding Australia) that are climate change leaders.
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Source: betashares.com.au
Behind China,s Bond Selloff, a Risky Twist on the Repo Trade
January 17, 2017--Trading practice called 'dai chi' sprouted up in China's long credit boom-and has helped exacerbate the bond-market rout.
The turmoil at a Chinese midsized brokerage firm that exacerbated China's recent bond-market rout also highlighted a little-regulated practice that companies have used to borrow hundreds of billions of dollars and move risky assets temporarily off their books.
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Source: Wall Street Journal
High-Speed Traders Are Taking Over Bitcoin
January 16, 2017--Cryptocurreny offers fragmented market, zero transaction fees
Risks include hacking thefts, Chinese government crackdown.
Zhou Shuoji is not a bitcoin believer. He says the cryptocurrency will never replace its traditional forebears, and he calls most of its proponents fanatics.
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Source: Bloomberg
SZSE Z Non-SOE 60 Index Released Today
January 12, 2017--Shenzhen Stock Exchange and Shenzhen Securities Information Co., Ltd. recently announced to issue SZSE Z Non-SOE 60 Index (Code: 399697, Abbreviation: Z Non-SOE 60) on January 10, 2017.
The index takes December 31 2008 as the base date and 1000 point as the base value.
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Source: Shenzhen Stock Exchange
PIMCO sees possibility of China floating yuan in 2017
January 12, 2017--Asset management giant PIMCO said on Thursday it thought there was a chance China could freely float its currency, the yuan, this year.
The firm's head of Asian portfolios, Luke Spajic, said in a note Beijing was finding it impossible achieve three goals simultaneously: a stable or fixed foreign exchange rate, free capital movement and an independent monetary policy.
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Source: Reuters
Exclusive-Banks forced to cover tracks of China's forex regulator
January 11, 2017--China's forex regulator is telling banks to keep its instructions about curbing capital outflows secret and to ensure that research analysts keep any negative views about the yuan's prospects to themselves, several bankers said.
Both demands are seen as an attempt by the authorities to prevent alarm that could trigger further declines in the yuan, the bankers from local and foreign banks said.
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Source: Reuters
Yuan seen stable, more flexible-China's FX trading platform
January 9, 2017--The Chinese yuan will stay basically stable with increased flexibility as China focuses on reform and higher quality growth, the country's foreign exchange trading platform operator said on Monday.
While market expectations are for the U.S. dollar to continue to strengthen, but there is a possibility its rise has outstripped these expectations and could fall back, the China Foreign Exchange Trade System (CFETS) said on its website.
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Source: Reuters
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