Saturday, 29 November 2008
Deflation may return to Japan and spreading to other countries as we head toward zero interest rate scenario
His advice to investors: “Stay away from commodities currencies, look for record low interest rates around the world, and get set for flatter yield curves.”
Can China Adjust to the US Adjustment?
For the past ten years the global balance of payments has been dominated by the trade and investment relationship between China and the US. This relationship is now undergoing a major shift. Most large economies will be affected, and to the extent that their economic policies do not accommodate this shift, they are likely to fail, in much the same way that economic policy failed in the 1930s.
China Won’t Be An Obama Priority
Although lead-coated Chinese toys and the US’s trade deficit with the country did come up during the American presidential election campaign, it is significant that neither Democrat Barack Obama nor Republican John McCain made China a major campaign issue.
China’s Oil/Gas Big Three Seeking Overseas Fire Sales
Accepting cheap oil and gas prices as a gift of the commodities slump, China’s oil and gas giants are moving decisively. PetroChina has signed a contract with Shell for 40 million tons of liquefied natural gas (LNG), and Total, in negotiations with China National Offshore Oil Corporation (CNOOC), declared on Wednesday that the two parties would soon finalize their own LNG contract. In Beijing, the China-Russia $25 billion “loan for oil” negotiation, which resumed recently, is moving ahead.
Hong Kong Takes Downturn in its Stride
It looks well-placed to benefit from the shift in world economic power towards the East
Neptune’s HK$4.3b Junket Deal May Collapse on Stock Downturn
Macau gambling junket investor Neptune Group said its HK$4.32 billion deal to launch a massive VIP junket operation at Galaxy Entertainment Group’s StarWorld casino hotel was in danger of collapsing because of the stock market downturn.
SGX Proposes Greater Short-Selling Disclosure
It wants sellers to mark short sales orders; and it’ll publish the total for each stock daily
Reform Plan to Allow Refiners to Set Prices if Crude Below US$80
Beijing plans to relax controls on fuel prices as long as crude oil stays below US$130 a barrel and ease curbs on refiners under a long-awaited reform plan, a source said.
Beijing Mulls Financial Boost for HK
Central bank studying measures to help city tackle financial crisis, strengthen hub role
Gome Saga Shows We Have Not Progressed on Disclosure
Making it an offence to keep quiet will give regulators not only the muscle to squeeze more out from companies but also a formal ground to seek help from mainland authorities in gathering and verifying information.
Stimulus Package Cold Comfort for Small Firms
Small businesses are facing a tough winter, helped only a little by the government’s 4 trillion yuan (HK$4.54 trillion) stimulus package, Li Zibin, chairman of the China Association of Small and Medium Enterprises, said.
Shanghai Seeks to Lift Gloom with 128-Storey Tower
Work starts on 632m-tall Shanghai Tower, which will be ready by 2014
OCBC Takes Anthony Soh to Court
OCBC Bank sued doctor-turned-investor Anthony Soh in the High Court yesterday for allegedly misleading the bank into acting for him in his aborted attempt to buy over listed Jade Technologies in March this year.
Bottoming Markets? The Data is Piling Up
Volatility is easing, sentiment indicators suggest investors are not getting gloomier
Reform Plan to Allow Refiners to Set Prices if Crude Below US$80
Beijing plans to relax controls on fuel prices as long as crude oil stays below US$130 a barrel and ease curbs on refiners under a long-awaited reform plan, a source said.
Mutual Funds Raise Stock Weighting
Mainland mutual funds have raised recommended allocations to stocks after the government’s announcement this month of a massive economic stimulus plan, a Reuters poll of fund managers shows.
Chinese Developers Urged to Publicise True Costs
A senior mainland housing official yesterday urged the country’s cash-strapped developers to publicise their true profit margins in a bid to convince people the market has hit bottom.
Gome Reshuffles Amid Probe into Chairman
Gome Electrical Appliances Holding tried to distance itself from embattled chairman Wong Kwong-yu - under investigation on the mainland for economic crimes - by announcing a management reshuffle and efforts to boost investor confidence.
Don’t Pin Hopes Too High on China
The answers are complicated but may not be what the world wants to hear or be in the best global interests.
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