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Vietnam’s growth up significantly to 6.17% for second quarter

July 13, 2017

HO CHI MINH CITY – After disappointing GDP growth in the first quarter (5.15% YoY), Vietnam achieved impressive growth of 6.17% in Q2, bringing the figure of the first half (1H) at 5.73%. Sector-wise, solid growth continued to be seen in the manufacturing and construction sectors (+10.5% YoY and +8.5% YoY in 1H, respectively), but the mining sector was still weak (-8.2% YoY) due to low oil prices.

Negative outlooks on Asia-Pacific economies remain elevated: S&P

July 13, 2017

SINGAPORE - The number of negative outlooks in Asia-Pacific economies remains elevated as global and regional uncertainties weigh on credit metrics, says ratings agency Standard and Poor’s. “Following the upgrade of the Indonesian sovereign credit rating to investment grade, none of the 21 ratings in the region currently record a positive outlook,” S&P says.

India leads world in trade complaints against China

July 7, 2017

BEIJING - India overtook the United States as the country with the most trade remedy investigations against China in the first half of this year, China’s Ministry of Commerce reports. India initiated 12 investigations against Chinese products, including aluminum foil and photovoltaic products, from January-June, followed by the US, which had 11, according to the Ministry.

20 years on from crisis, Asia Pacific growth Is flat: S&P

July 7, 2017

SINGAPORE - Asia-Pacific economies are drifting into the third quarter of 2017 on a quiet note, with the macro story flat on the 20th anniversary of the Asian Financial Crisis, says Paul Gruenwald, S&P Global Chief Economist for Asia-Pacific. "Hopes are fading fast for a reflation story driven by the Keynesian
inclinations of the new U.S. Administration," he says in a new report.

Global air freight demand up 13% but may have peaked: IATA

July 7, 2017

GENEVA - International Air Transport Association (IATA) data for global air freight markets shows demand, measured in freight tonne kilometres (FTKs), grew 12.7% in May 2017 compared to the year-earlier period. This was up from the 8.7% annual growth recorded in April 2017 and is more than three times higher than the five year average growth rate of 3.8%.

20 years on: asset prices, credit growth reminiscent of Asian Financial Crisis – S&P

July 4, 2017

SINGAPORE - Countries that suffered in the Asian Financial Crisis 20 years ago have substantially reduced their external vulnerabilities and improved risk management over the past two decades, but high asset prices and rapid credit growth in recent years are reminiscent of conditions that prevailed when the Thai baht's peg broke on July 2, 1997, S&P Global Ratings says in report published today.

Xi, Putin agree to boost co-ordination on major issues, including North Korea

July 4, 2017

BEJING - Visiting Chinese President Xi Jinping and his Russian counterpart, Vladimir Putin, met here Monday and agreed to further cement bilateral ties and strengthen coordination on the Korean Peninsula and other major issues, accosrding to the State newsagency Xinhua.

“China and Russia are comprehensive strategic partners of co-ordination, and it is quite important for them to intensify communication and co-ordination in dealing with major affairs, said Xi, who had a meeting with Putin in the Kremlin shortly after his arrival in Moscow,” said the Xinhua report.

China’s latest PMIs point to 6.5% growth in 2017: BBVA

July 3, 2017

HONG KONG - China’s official manufacturing PMI (released last Friday) picked up significantly to 51.7 in June from 51.2 in May, well above market expectations (consensus: 51), and following the same trend, the Caixin China Manufacturing PMI announced today, which includes a survey sample tilting toward SMEs and exporters, increased to 50.4 in June from 49.6 the previous month (Ccnsensus: 49.8).