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China Maintains Loan Curbs

China Maintains Loan Curbs

 

July 13, 2010 (Chinavestor) The Shanghai Composite Index (SHA:000001) endured its biggest loss in two weeks as Beijing quelled hopes that it would loosen restrictions on real estate loans after property values rose less in June than they did in May. Property prices in 70 of China's large and medium-sized cities rose 11.4% in June from a year earlier, slowing from May's 12.4% rise, according to the Wall Street Journal.
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Singapore Growth May Outpace China This Year

Singapore Growth May Outpace China This Year

July 9, 2010 (Chinavestsor) China may have competition for the title of Asia's fastest growing economy this year and that competition comes in the form of city state Singapore, which may post GDP growth of 10.8% this year, according to the median estimate of 13 economists surveyed by Bloomberg. Singapore reports second-quarter GDP results on July 14.

China's growth estimate has been pared to 10.1% in recent weeks by several major investment houses. The International Monetary Fund expects China's economy to expand by 10.5% this year.

Singapore has been largely dependent on electronics exports to drive its economic growth, but has taken steps to diversify its economy in recent years. The push to bolster services may sustain the economy and support investment that spurred the island’s benchmark stock index to outperform counterparts in China, Taiwan, Japan and Australia this year, according to Bloomberg.

Singapore's benchmark exchange is up 28% this year, outperforming the Shagnhai Composite, the Hang Seng and Taiwan's Taiex. Singapore's government has raised GDP estimates twice in 2010. The IMF said the last time Singapore's growth outpaced China was in 2000.

Singapore’s manufacturing increased an average 45% in the first five months of 2010, after declining an average 13% in the same period last year while pharmaceutical output doubled every month from March to May, Bloomberg reported.

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Taiwan Says China Trade Pact Could Boost GDP

Taiwan Says China Trade Pact Could Boost GDP

July 9, 2010 (Chinavestor) Taiwan said the Economic Cooperation Framework Agreement (ECFA), the landmark trade agreement between the island nation and mainland China, could boost its GDP by 0.4% and help add 60,000 new jobs in the next two years. A boost to GDP of 0.4% is equivalent to $1.71 billion.

 

The iShares MSCI Taiwan ETF (NYSE:EWT) is down about 7% this year.
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China Scooping Up Japanese Bonds

China Scooping Up Japanese Bonds

July 8, 2010 (Chinavestor) China is snatching up Japanese bonds at a record pace, purchasing $8.3 billion of Japanese debt in May alone. China purchased about $9 billion in Japanese bonds last year. Purchases in 2010 are nearly fives times larger than 2005, the year when the previous record for China's purchases of Japanese bonds was set.

Analysts speculated that China purchased Japanese debt after paring its holdings of Euro-denomiated holdings. The Japanese Yen has held up relatively well while riskier currencies have faltered in recent months, making Japanese bonds all the more attractive to China.

China may be considering small alterations to its foreign exchange reserves, the largest in the world and largely denominated in U.S. Dollars. The yield on Japan’s benchmark 10-year bond dropped last quarter by the most since the last three months of 2008, declining to 1.055 percent on July 1, the lowest since August 2003, Bloomberg News reported.

China is Japan's largest export and customer and Japan has been working to bolster ties with China as China's economic growth continues to soar. China boosted its holdings of U.S. Treasuries to $900.2 billion in April, Bloomberg reported. China holds $2.45 trillion in foreign currency reserves.

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Chinese Stocks Could Jump By 17%

Chinese Stocks Could Jump By 17%

 

June 24, 2010 (Chinavestor) China's scaled-back plans to cool economic growth could help Chinese equities jump by 17% in the second of this year, according to Shenyin & Wanguo Securities Co. The Shanghai Composite Index (SHA:000001), which is down 22% year-to-date, could reclaim the 3,000 level, the firm said.
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