BEIJING – The May monthly survey of global fund managers by Bank of America Merrill Lynch found that a quarter of respondents see a hard landing in China and a commodity collapse as their number one "tail risk", an increase from 18% in April. A total of 231 respondents with US$661 billion of assets under management participated in the survey, which indicates China’s economic slowdown is beginning to rival the European debt crisis (which dropped on the survey from 42% to 29%) in terms of concern to fund managers.
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SINGAPORE – ANZ Bank is tipping a further interest rate increase in Indonesia, to 6%, in the fourth quarter of this year – and believes there is now room for India to cut rates to 7% at its meeting on June 17. ANZ says a rate cut in Indonesia would provide some offset to the inflationary impulse from administered fuel price rises, with Bank Indonesia wanting inflation to remain within its target of 4.5% plus/minus 1% over coming quarters. In India, wholesale price inflation (WPI) for April at 4.89% was much weaker than market expectations, providing a second consecutive downside surprise.
TAIPEI - Taiwan's top economic planner is confident the economy can grow by 3% this year, achieving the Government’s target. Kuan Chung-ming, Minister of the Council for Economic Planning and Development (CEPD), described continued depreciation of the Japanese yen as a "mixed blessing". He noted that a lot of raw materials and semi-finished products come from Japan, so the yen's depreciation could be favourable to Taiwan. He also said he did not think continued depreciation of the Japanese yen will trigger a race of depreciation of Asian currencies (ATI).
TAIPEI – With the Japanese yen continuing to depreciate, Taiwan business groups are urging the Government to let the New Taiwan dollar weaken against its American counterpart to help Taiwanese exporters stay competitive. Chang Pen-tsao, Chairman of Taiwan's General Chamber of Commerce, says it is reasonable to let the NT dollar depreciate against the U.S. dollar at 30 to 31 NT$ to the US$. The exchange rate is currently around 29.6.
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A two-day conference and exhibition assessing latest developments and opportunities in Myanmar’s power sector, including a review of the legal and regulatory framework for direct foreign investment. Covering hydro-power, and both coal-fired and gas-fired plants. Business match-makings ervices and one-on-one meetings with fellow delegates. Email email@example.com
This conference will update the latest trends in Chinese and Indian investment into Australian mining and debate key issues impacting on global mining and investment – including cost efficiency, market risk and resource nationalism. Visit http://www.minesandmoney.com/australia/
This event brings together international mining project developers and Chinese outbound investors with capital to invest. The conference will update China’s resource acquisition and outbound investment strategies following selection of the new Government.