Asia
China’s services PMI plunges to 6-year low of 50.6 in August
HSBC says this reflects the effect of property and credit tightening measures.
China’s services PMI plunges to 6-year low of 50.6 in August
HSBC says this reflects the effect of property and credit tightening measures.
India’s manufacturing PMI drops to 52.6 in August
HSBC says this moderation in growth is set to continue over the next few months.
Korea’s inflation surges to three-year high of 5.3%
Blame the 11.4% rise in food prices for the higher inflation.
Half of Asia’s millionaires to come from China by 2015
Julius Baer says the wealth of China’s millionaires will reach a whopping US$8.76 trillion four years from now.
China’s manufacturing PMI grows to 49.9 in August
HSBC says this is the first time it rose in three months.
Korea’s industrial production rises 3.8% in July
Morgan Stanley says production activities were affected by the holidays, and possibly by the heavy rainfall in the month.
India’s GDP eases to 7.7% in Q1-FY12
Consumer demand slowed dramatically with private consumption growth dropping to 6.3%.
Ongoing challenges hinder growth of foreign fund management firms in China
Regulatory constraints and limited distribution channels cause market share and assets under managementto remain stagnant.
Overseas investments in Malaysia amount to a whopping US$3.39b in 2Q11
And guess what countries were the top sources of foreign direct investments in Malaysia?
Asia’s GDP growth to slow down to 6.9%
UBS says growth of small Asian economies will likely ease towards 3% next year.
Taiwan’s industrial production up by 2.4% in July
Domestic demand growth remains impressive with retail sales rising by 1.3%.
China beats the United States as the largest PC market in the world
PC shipments in China amounted to a whopping US$11.9b, beating those of the United States by US$200m.
China’s flash manufacturing PMI rises to 49.8% in August
HSBC says recent export growth was strong, with shipments expanding by 22% y-o-y in 2Q.
China’s outbound M&A deal activity up 14%
There has been no sign that the country’s interest in outbound M&A is waning as analysts expect more number of big deals in 2H2011.
Analyst warns Chinese banks on risk from rising local government debt
79% of China's local government debt were from bank loans, according to the National Audit Office.
Westpac CEO: Australians are too glum about economy
Despite booming resources sector a survey showed 47% of businesses sees weakening of Queensland economy in the next 12 months.
Tightening bites: China’s Flash Manufacturing PMI drops to 48.9 in July
This is the first time flash PMI fell below 50 in a year.
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