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Yen boost an unwelcome gift from the Fed’s dovish turn

Last week’s indisputably dovish turn by the Federal Reserve prompted a sell-off in the value of the US dollar, including against the Japanese yen. Yet the outlook for the Japanese economy doesn’t look that rosy. Indeed, such are the economic clouds hanging over the Land of the Rising Sun, it is not that easy to make much of a case for the yen. In Japan, the Heisei era will give way to a new imperial age at the end of next month, when Crown Prince Naruhito accedes to the Chrysanthemum Throne…

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Embattled pay TV operator i-Cable makes another attempt to turn around a decade of losses with Guangdong network tie-up

I-Cable Communications, Hong Kong’s biggest pay TV operator, on Tuesday formalised a partnership with Guangdong Radio and Television (GRT) that will allow it to air programmes to the Chinese TV group’s customers.But analysts are circumspect about the benefits of the tie-up on i-Cable’s bottom line, saying it is unlikely to yield any long-term “material” benefit.Irene Leung Shuk-yee, chief operating officer of i-Cable, said that the deal with GRT also involves joint production of TV shows,… Source link

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China 

Li Keqiang says it’s time for Chinese government to ‘turn the blade inward’ to boost jobs growth

China has pledged to create more than 11 million new jobs this year – equivalent to the population of Belgium and more than that of Hong Kong – as it tries to ensure social stability amid an economic slowdown and rising tensions with foreign countries.Wrapping up the annual legislative sessions on Friday, Premier Li Keqiang said Beijing was aware of the downward pressure from the economy, with GDP growth slowing to 6.6 per cent last year – its weakest pace since 1990.But he ruled out any… Source link

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Singapore 

Gardens by the Bay murder trial: Supervisor says accused asked to meet her but did not turn up with victim, Singapore News

SINGAPORE – Laundry shop manager Leslie Khoo Kwee Hock called his supervisor one morning to ask for help, saying a woman was on her way to the office at Tuas to create trouble. Then, in a three-way conference call, Khoo told the woman, senior engineer Cui Yajie, that he would pick her up and they would head downtown to meet his supervisor. But the supervisor, Ms Adeline Toh, never got to sort things out between the two on July 12, 2016. After picking up Ms Cui, Khoo drove to a…

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As central banks turn dovish, how loose will this year’s monetary policy be?

In the middle of November last year, the yield on one-year Chinese government debt fell below its American counterpart for the first time ever, according to data from Bloomberg, dropping to 2.5 per cent as Beijing’s shift towards more growth-supportive measures gathered pace. The yield gap between the two countries’ 10-year bonds had also narrowed sharply, dropping to just 30 basis points as the divergence between Chinese and American monetary policy gained momentum. It was not just the Federal Reserve and the People’s Bank of China that were parting ways.…

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Singapore 

Big revamp to turn Orchard into a more lively street, Singapore News

Travelling from one end of Orchard Road to the other will eventually be a very different experience, as plans are afoot to transform the 2.4km stretch into a more lively street with different offerings in each of its four sub-precincts. Part of the road may also go car-free to connect green spaces at the Istana Park, Dhoby Ghaut Green and the open space at Plaza Singapura, and turn it into a garden oasis. These were among the proposed plans to rejuvenate Singapore’s shopping belt unveiled yesterday, following a six-month study…

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Singapore 

Aloysius Pang’s wake: Endless stream of people turn up on second day to pay their final respects, Singapore, Entertainment News

SINGAPORE – An endless stream of fans and friends turned up on the second day of home-grown actor Aloysius Pang’s wake on Sunday (Jan 27). Decked out in sombre colours of black, grey and white, people of all ages stood patiently in line from about 10am onwards under the hot sun to pay their respects. Driver Vincent Kan, 25, was among the first groups of fans to turn up along with his girlfriend Poh Ing Ing, 24, a nurse. “I was an extra in a drama that Aloysius starred in…

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Turn down a seat at the Greater Bay’s US$1.5 trillion feast? That timidity is very unlike Hong Kong’s entrepreneurial spirit

I remember large Hong Kong maps that used to hang on the walls of the offices of British colonial officials, that reached the Shenzhen River boundary and then went blank white. It was as if there was nothing of value beyond the creaky Lo Wu bridge, or that Shenzhen was an empty space waiting for Hong Kong people and businesses to populate it. Today, as Beijing has asked us to play a role in forging the Greater Bay Area, there are doubtless some who still nurture such naive and ignorant…

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Hong Kong, China stocks rise for third day as eyes turn to Trump-Xi meeting at G20 for trade war clues

Hong Kong and Chinese stocks ended slightly higher on Monday as investors turn their attention to an upcoming meeting between Donald Trump and Xi Jinping at the Group of 20 summit in Argentina for clues as to how the trade war between the two countries might play out. The G20 summit in Buenos Aires from November 30 to December 1 will be the last multilateral event of the year to be attended by both the American and Chinese presidents. The Hang Seng Index rose 0.7 per cent, or 188.47 points,…

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Chinese investors turn to property markets in Southeast Asia, as western markets impose capital curbs

Cashed up Chinese homebuyers are shifting their attention to emerging markets in the search for property bargains, reflecting a strategy U-turn as traditional western markets have initiated foreign investment curbs. The change comes after the introduction of various measures in New Zealand, Australia, Canada, and the UK aimed at curbing foreign inflows of capital, as a way to cool runaway property prices, analysts said. The measures are boosting interest in Southeast Asian property markets, according to some analysts. Home prices in western markets traditionally favoured by Chinese buyers have either…

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