Global economy still fragile and scarred from aftermath
Economies began year on the brink of disaster before a modest H2 recovery The global economy that was headed for an abyss at the start of 2009 now appears to be in recovery, but remains fragile and scarred by the worst crisis in decades. The year began with major economies on the brink of disaster … Read more
Asia is poised for V-shaped recovery next year
ASIA is poised for a sharp economic recovery next year, even as developed economies in the West continue to struggle, according to Standard Chartered’s chief economist. ‘Our forecasts suggest the recovery will take the shape of an L or a U in the West and a V in the East,’ Gerard Lyons, who is also … Read more
What’s in store next year
Asia’s strong recovery means that higher interest rates and stronger currencies will be two key features in 2010 ASIA is rapidly approaching the end of its sharpest V-shaped recovery on record. It’s been quite a ride on both sides of the trough: two quarters of double-digit GDP contraction for most countries (ending in 1Q 2009), … Read more
Asia at risk of asset bubbles:Fosler
THE president of a prominent US research group has joined the growing ranks of economists warning against escalating asset prices in Asia. The huge fiscal stimulus packages and flush liquidity set ‘the stage for asset bubbles to move out of the United States and into Asia’, said The Conference Board’s Gail Fosler at the CapitaLand … Read more
Making sense of the recent market rally
One important reason for the bullishness is that the market has already discounted much of the bad news RECENTLY, one of my clients told me he was confused about the significance of the recent market rally. Many of the blue chips such as Singapore Airlines, NOL, SGX and CapitaLand are still making quarterly losses. On … Read more
Swings in liquidity flows set to continue
IN THE face of the continuing economic slowdown affecting developed economies such as the United States and Japan, the soaring financial markets around the globe present a big puzzle. Stock prices across the region have hit 12-month highs, clawing back the losses sustained in the fallout from the collapse of US investment bank Lehman Brothers. … Read more
Asian recovery looks to be on track: ADB
S’pore growth for 2010 forecast at 3.5%, and the rest of Asean 4.2% ASIAN economies appear to have turned the corner from the global recession and should be able to double next year the anaemic growth rates they are expected to post in 2009, the Asian Development Bank (ADB) said yesterday. But it warns in … Read more
Worst seems to be over for Asia, says Hng Kiang
Minister’s remarks come ahead of Apec meeting The worst may seem to be over for economies across Asia, but a recovery in trade will be some way off, said Trade and Industry Minister Lim Hng Kiang. ‘We don’t expect trade flows to be restored to previous levels . . . until the later stages,’ he … Read more
Property slump to worsen Asia slowdown
Activity in China, Korea cools fast as force of global financial crisis hits home Slumping Asian property markets could intensify the region’s economic downturn this year, further undermining consumer and investor confidence and prompting homeowners to tighten spending. Japan, Hong Kong, Singapore and New Zealand are already in recession, and data yesterday showed activity in … Read more
2009: A year of two halves
Market volatility likely to persist, yet opportunities may surface in second half AS unprecedented stress struck the core of the global financial system last year, it was clear to many observers that a worldwide recession was on the way. Citi analysts expect major industrial economies to contract well into 2009 as adjustments occur to raise … Read more
