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The risk of stagflation is "very real" in China over the next couple of quarters, said Charlene Chu, senior analyst for China macrofinancial at Autonomous Research. A high producer price index and power crunch have made it difficult for Beijing to stimulate the economy aggressively, said Chu. The slowdown in the real estate sector has […]
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Evergrande's debt crisis will slow down China's economic growth, said Li Daokui, a former advisor to the People's Bank of China. But the crisis will have minimal spillover on the financial system because there aren't derivative instruments built on Evergrande's debt, said Li, now a professor at Tsinghua University's School of Economics and Management. Li […]
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"Today is a moment of hope. Yes, it is very different from what all of us imagined. But finally we are all here together," said Thomas Bach, the president of the International Olympic Committee. Normally a star-studded display teeming with celebrities, the ceremony was low-key, with fewer than 1,000 people in attendance. Postponed by a […]
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At least 12 people died in a severe flooding on Tuesday in Zhengzhou. The capital of Henan province, was hit by 20 centimeters (8 inches) of rain from 4 to 5 p.m. The flooding trapped people in subways and schools, washed away vehicles and stranded people in their workplaces overnight. At least 12 people died […]
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U.S. President Joe Biden said his administration will issue an advisory to warn American companies about the risks of doing business in Hong Kong. "The situation in Hong Kong is deteriorating. And the Chinese government is not keeping its commitment that it made how it would deal … with Hong Kong," Biden said Thursday. Multiple […]
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Singapore's Finance Minister Lawrence Wong said "open and free" air travel within Asia remains unlikely in the near term as parts of the region battle with an increase in Covid-19 infections. International travel came to sudden halt in the past year due to the pandemic, and that's hurt Singapore's aviation and tourism sectors — two […]
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Hospitals in Japan's second largest city of Osaka are buckling under a huge wave of new coronavirus infections, running out of beds and ventilators as exhausted doctors warn of a "system collapse," and advise against holding the Olympics this summer. Japan's western region home to 9 million people is suffering the brunt of the fourth […]
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Hang Seng Indexes, the compiler of the index, announced this week it will be making major changes to the main Hong Kong stock benchmark, and eventually include 100 constituents in the index. Other changes include the selection of constituents from seven industry groups as well as adopting an 8% weighting cap of all firms in […]
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The World Tourism Organization, a United Nations specialized agency, predicts that international tourist numbers could plunge by as much as 80% for all of 2020. Although the pandemic remains under control in most parts of the region, the unpredictability of infections have largely discouraged authorities from opening up their borders. With the tourism downturn, accelerating digital technology […]
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The conditions in Asia are "possibly the best you could have" post a credit crunch, said Sean Darby, global equities strategist at Jefferies. He said factors including the weak dollar, soft oil prices and light investor positioning in the region are positive for markets. Darby also said the dangers of investing in tech stocks are much greater in […]
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