Friday, June 22 2018 | ASIA TODAY INTERNATIONAL - Reporting the Business that Matters in Asia
HONG KONG - The HKTDC Export Index for the second quarter of 2018 has climbed to a 29-quarter high and indicated positive sentiment among local exporters for the first time in 12 months.
BEIJING - President Xi Jinping has stressed the need to build an elite maritime force “to resolutely accomplish various missions entrusted by the Party and the people”, China’s State newsagency, Xinhua reported.
SEOUL – South Korea’s Foreign Minister, Kang Kyung-wha, said today that the Government aims to declare a formal end to war with North Korea this year, and that it is flexible regarding the time and format.
HONG KONG - Amid the growing uncertainty of the global economic scenario - stemming from the potential escalation of tariff increases initiated by the US - the main central banks have launched a crystal-clear message this week: monetary policies are entering a new phase, says BBVA in a research note.
SEOUL – South Korea’s President, Moon Jae-in, says his Government will cautiously consider suspending joint military drills with the U.S. as a follow-up action to the North Korea-U.S. summit in Singapore.
HONG KONG - Institutional investors are eager to play a greater role in financing Asia-Pacific infrastructure, but a number of roadblocks can limit participation, S&P Global Ratings says in a report published today.
HONG KONG - May economic indicators announced in China today, together with previously-released credit data, point to an expected moderation in growth, BBVA says in a research note. In particular, fixed asset investment, industrial production and retail sales all dropped from previous readings and were below market expectations.
HONG KONG - Hong Kong Exchanges and Clearing Limited (HKEX) and Tokyo Commodity Exchange (TOCOM) have signed an MoU to further promote their co-operation through information and staff exchanges, product development and joint promotion.
TAIWAN - The outcome of the summit between U.S. President Donald Trump and North Korean leader Kim Jong Un this week in Singapore has been welcomed by Taiwan’s Ministry of Foreign Affairs (MOFA). It described the meeting as of great significance to peace and stability in the Asia-Pacific “as it creates new opportunities for resolving long-standing issues in a peaceful manner”.
SEOUL – Twenty-four hours ahead of the North Korean-United States Summit in Singapore, South Korea’s President, Moon Jae-in, has said he “looks forward to the two leaders' bold decisions to freely exchange what they want from each other so that the wish of people across the world for a new era on the Korean Peninsula could be realised”.
KUALA LUMPUR – ANZ Bank has revise lower its GDP growth forecast for 2018 to 5.4% from 5.7% previously, mainly due to the weaker out-turns in the early part of the year. “We are also revising our GDP growth forecast for 2019 to 5.2% from 5.5% previously, on the back of lower public consumption and investment, alongside an expected moderation in export growth,” ANZ says in a research note.
~~ELAIDE - The University of Adelaide’s Waite campus is establishing a Training Centre for Innovative Wine Production to undertake research aiming to build the sustainability and competitive edge of Australia’s AUD5 billion wine industry.
SEOUL - The Korean won has been resilient amid the recent episode of an Emerging Markets sell-off, with an easing in geopolitical tensions between North and South Korea benefitting the KRW by lowering the country’s risk premium.
HO CHI MINH CITY - Vietnam’s Industrial Production Index increased by 9.7% on-year in May compared with 6.6% in May 2017. Manufacturing and processing sector posted high growth of 11.8% YoY, with the Vietnam's Purchasing Managers Index (PMI) reading reached 53.9 in May from 52.7 in April to mark the 30th consecutive month of expansion.
NEW DELHI - In a unanimous vote, the Reserve Bank of India (RBI) today raised its policy repo rate by 25 bps to 6.25% . In its decision, the RBI considered the sharp rise in non-food and fuel inflation in April, higher oil prices and higher inflation expectations.
BEIJING - China and the United States achieved positive and concrete progress in the fields of agriculture and energy during the latest round of trade consultations, with the details subject to finalisation by both sides, according to a Chinese statement, the China Daily reported.