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Property vs. sharemarket-the age-old debate
January 27, 2021--Whilst interest rates are at record lows and are likely to remain there for several years based on Reserve Bank governor Phillip Lowe's commentary1, should you be taking advantage of the current market environment by investing in property or investing in the sharemarket?
Australia has a well-known love affair with property, and many Australians hold a firm belief that its value never goes down. In terms of investments, it's relatively straightforward and easy to understand.
However, not everyone has the minimum amount needed to place a deposit on a property and secure a mortgage. In addition, the world is going through a pandemic and, according to the RBA, prices in rental markets have recently adjusted in response to reduced demand and higher supply. Advertised rents have declined sharply since April 2020, particularly for apartments in Sydney and Melbourne2.
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Source: betashares.com.au
IMF Staff Completes 2021 Article IV Mission to Republic of Korea
January 27, 2021--The Korean economy has weathered the COVID-19 pandemic comparatively well and is projected on a preliminary basis to grow by 3.1 percent in 2021 after contracting by 1 percent in 2020.
Some additional policy accommodation would help the economy normalize faster and bring discouraged workers back to the labor market.
The Korean New Deal offers an opportune strategy to develop new growth drivers and achieve greater inclusiveness; broader product market reforms and steps to tackle remaining rigidities in the labor market will help generate greater impact.
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Source: IMF
Investors call for more clarity on Singapore ESG fund labels
January 27, 2021--Investors call for more clarity on Singapore ESG fund labels. Standardisation of some kind would help to prevent 'greenwashing', industry figures say..
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Source: FT.com
ASIC says it was hit by cyber attack
January 25, 2021--The Australian corporate regulator has become the latest high-profile victim of a cyber-attack related to the same software used to hit both the Reserve Bank of New Zealand and law firm Allens.
On Monday evening, the Australian Securities and Investments Commission said it was hit by a "cyber security incident affecting a server used by ASIC".
ASIC said it became aware of the incident on January 15 and had launched an investigation.
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Source: afr.com
Hong Kong's central bank criticises State Street over US blacklist flip-flop
January 19, 2021--Fund manager said it would continue investing in Chinese companies on sanctions list after all
Hong Kong's de facto central bank has accused State Street Global Advisors of creating "market uncertainties" with the sudden reversal of its decision to stop investing in Chinese companies on the US sanctions list via Hong Kong's largest exchange traded fund.
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Source: FT.com
IMF-People's Republic of China:2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the People's Republic of China
January 8, 2021--Summary:
The Chinese economy continues its fast recovery from the health and economic crisis as a strong containment effort and macroeconomic and financial policy support have mitigated the crisis impact and helped the economy rebound. However, growth is still unbalanced as the recovery has relied heavily on public support while private consumption is lagging.
Rising financial vulnerabilities and the increasingly challenging external environment pose risks to the outlook. Important reforms have progressed despite the crisis, but unevenly across key areas.
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Source: IMF
Ignorance impedes growth of China ETF market, survey reveals
December 28, 2020--Only about 90 ETFs have been rolled out this year compared with 1,200 non-ETF funds
China's burgeoning exchange traded fund industry has been outshone by the explosive growth of domestic active strategies this year, with market participants blaming a persistent lack of knowledge among retail investors and weak product diversity as the key barriers to higher adoption of ETFs.
Only 91 new ETFs had been rolled out in China this year by December 8, a number that only just exceeds the 90 such product launches recorded for 2019, data provided by Morningstar show. Total assets in the onshore ETF market stood at Rmb1.06tn ($162bn).
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Source: FT.com
China's Economic Recovery Picks Up but Risks Remain: Report
December 23, 2020--Following a sharp decline in the first quarter of 2020, economic activity in China has normalized faster than expected, aided by an effective pandemic-control strategy, strong policy measures and buoyant exports.
While swift, the recovery has been uneven, with domestic demand recovering more slowly than production, and consumption more slowly than investment, according to From Recovery to Rebalancing, the December 2020 edition of the World Bank's China Economic Update, released today.
The report projects economic growth in China to slow sharply to 2 percent in 2020 before rebounding to 7.9 percent, in 2021, as economic activity broadens to private investment and consumption, in response to improved consumer and business confidence and better labor market conditions.
view the World Bank's China Economic Update From Recovery to Rebalancing, December 2020
Source: World Bank
Malaysian economy showing signs of recovery, projected to grow by 6.7 percent in 2021 following a contraction of 5.8 percent in 2020
December 17, 2020--Malaysia's economy is expected to grow by 6.7 percent in 2021 following a projected contraction of 5.8 percent in 2020 caused by the COVID-19 pandemic, according to the latest edition of the World Bank Malaysia Economic Monitor: Sowing the Seeds launched today.
The successful containment of the third wave and effective roll out and distribution of vaccine could lead to a faster-than-expected recovery in consumer demand, greater investor confidence, and consequently a more robust recovery in domestic economic activity in 2021.
Signs of recovery are showing with Malaysia posting a smaller contraction of 2.7 percent in Q3 2020 compared to a 17.1 percent in Q2 2020. Fiscal measures like cash transfers and wage subsidies have boosted household spending with private consumption contracting 2.1 percent in Q3 2020 compared to 18.5 percent in Q2 2020. However, the recent surge in COVID-19 cases and renewed movement controls could slow recovery down due to uncertainties surrounding the deployment of an effective vaccine and the robustness of a rebound in global growth that will influence growth prospects.
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Source: World Bank
China insists Trump sanctions will not deter foreign investors
December 16, 2020--Nasdaq announced on Friday it would follow FTSE Russell and S&P on exclusions from indices
China has spoken out against the Trump administration's recent sanctions on Chinese military-linked companies, dismissing the idea that their recent removal from key global indexes could have an impact on foreign investors' appetite for open market investment.
Wang Wenbin, a Beijing-based spokesman for China's Foreign Ministry, told reporters Monday that recent decisions by indexing companies to exclude the securities of these sanctioned companies would not hold global investment away.
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Source: FT.com
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