Asia Business

Rate cut to save Telecom Egypt 20% on financing costs -official

25/08 Telecom Egypt will save 20% on financing costs after the Central Bank of Egypt cut interest rates, a company official has said.  Full story

China's Sinopec H1 profit falls 25% y/y over thin refining margins

01h00 China Petroleum and Chemical Corp, or Sinopec Corp , reported a 24.7 percent drop in earnings in the first half of 2019 on Sunday, dampened by rapid growth of domestic refining capacity and waning demand. . .  Full story

Africa Finance Corporation approves $230 mln loan for Nigeria's 9mobile

25/08 The Africa Finance Corporation has approved a $230 million loan for Nigerian telecom company 9mobile, the firm said on Sunday.. . .  Full story

Saudi index drops amid global weakness, Aldar tumbles in Abu Dhabi

25/08 Most Middle East markets dropped on Sunday amid thin trading volumes, mirroring a tumble in global stocks last week and weighed down by sliding oil prices. Brent crude futures fell. . .  Full story

China to set floor on mortgage rates to curb housing risks

25/08 China will set lower limits on mortgage rates, the central bank said on Sunday, in an apparent bid to curb housing risks following its reform to switch to a market-based reference rate.. . .  Full story

Sri Lanka’s c.bank 'extremely unlikely' to cut rates before year-end election

25/08 Sri Lanka's central bank is extremely unlikely to reduce its key monetary policy rates before presidential elections expected to be held before Dec. 9, its chief Indrajit Coomaraswamy told Reuters on Sunday.. . .  Full story

China's top feed producer completes construction at its first pig farm overseas

25/08 China's top feed producer, New Hope Liuhe, said on Sunday it had completed construction of its first overseas pig farm in Vietnam, seeing potential demand growth in a major market devastated by a severe African. . .  Full story

Japan's H.I.S. says pulls bid for control of Unizo

24/08 Japanese travel agent H.I.S. Co said on Saturday it is abandoning its bid for control of Unizo Holdings, buckling in the face of a 'white knight' offer from SoftBank's investment firm for the entirety of. . .  Full story

CME lean hog futures dive as U.S.-China trade war heats up

24/08 Chicago Mercantile Exchange lean hog futures tumbled on Friday, with the benchmark October contract falling its daily 3-cent limit after China announced a fresh set of tariffs on U.S. agricultural products, traders said.. . .  Full story

Fitch, S&P ratings are reminder of need for Lebanon reforms -finance minister

23/08 Lebanon will overcome crisis and has committed to reforms, the finance minister told Reuters after Fitch downgraded the country's credit rating to CCC while S&P affirmed it at B-/B on Friday.. . .  Full story

India Inc grows impatient as economy dips and Modi is distracted

23/08 When Prime Minister Narendra Modi was re-elected in May with a sweeping majority, Indian stock markets jumped to all-time highs as investors anticipated big bang pro-business reforms to revive a flagging economy.. . .  Full story

India plans extra tax on vegetable oil imports to boost domestic output -sources

23/08 India plans to impose an extra 5% tax on vegetable oil imports within weeks and use the revenue to help boost the country's stagnating oilseed production, two government sources said.. . .  Full story

Asia Gold-Price dip tempts some buyers

23/08 Most Asian hubs experienced a slight uptick in physical gold demand this week as consumers took advantage of a retreat in prices, with cheaper silver continuing to be the preferred bet.. . .  Full story

Libya's state oil firm demands pay rise for workers

23/08 Libya's state oil firm NOC has demanded a pay rise of 67% for its workers which it plans to discuss with the Tripoli government next week, the company said in a statement said on. . .  Full story

Indonesia's plastic recycling exports hit by tougher rules on imported waste

23/08 Indonesia's exports of recycled plastic have plunged by 70% in the past few months due to a shortage of materials needed for production since Jakarta tightened rules on imported waste, an industry body said. . .  Full story

China Molybendum's Congo mine blames mining tax, low metal prices for loss

23/08 One of the biggest copper and cobalt mines in Democratic Republic of Congo (DRC), China Molybdenum-owned Tenke Fungurume, has told employees it had missed production targets and is operating at a. . .  Full story

China Hongqiao slashes 2019 aluminium output guidance; H1 profits surge

23/08 China Hongqiao Group, the world's biggest aluminium producer, on Friday slashed its 2019 production guidance by up to 300,000 tonnes, or almost 5%, after recent flooding on its premises, as it posted a sharp. . .  Full story

China's Qianhai Mercantile Exchange launches copper rod trading

23/08 The Qianhai Mercantile Exchange (QME), a mainland China spot commodities platform owned by Hong Kong Exchanges and Clearing Ltd, said it started trading in copper rods on Friday, adding to existing trade of alumina and. . .  Full story

Global watchdog to monitor Pakistan's progress in tackling militant funding

23/08 The Financial Action Task Force (FATF) will monitor Pakistan's progress in implementing a proposed plan against financing for militant organizations ahead of a meeting in October, the international watchdog body said on Friday.. . .  Full story

Sri Lanka c.bank surprises markets with rate cut to boost growth

23/08 Sri Lanka's central bank unexpectedly cut interest rates for the second time in four months on Friday to boost sluggish growth after tourism and investments plummeted following deadly Easter Day bomb attacks by Islamist militants.. . .  Full story

SE Asia Stocks-Singapore falls as core inflation outlook lowered

23/08 Singapore stocks declined on Friday as authorities trimmed full-year inflation forecast towards the lower half of their guidance range, while last-minute buying in blue chips saw Philippine shares reverse course to end higher.. . .  Full story

China publishes draft rules allowing listed companies to spin off units

23/08 China's securities regulator on Friday published draft rules that would allow publicly traded companies to spin off subsidiaries for separate domestic listings.. . .  Full story

China's July gasoline exports surge 75% higher than a year ago

23/08 China's gasoline exports in July surged 75% from a year ago, customs data showed on Friday, as refiners stepped up overseas shipments amid new production and slowing domestic demand. Gasoline shipments. . .  Full story

September naphtha shipments from West to exceed Asia demand

23/08 Shipments of naphtha from the West, including Europe and the Mediterranean, to Asia in September are forecast to exceed Asian demand amid maintenance at naphtha crackers and as petrochemical producers use alternative feedstocks.. . .  Full story

China likely to hold MLF rate on Monday, cut seen by mid-Sept before Fed

23/08 China is likely to keep a key loan rate steady next week, but a cut is expected by mid-September after a policy review by the U.S. Federal Reserve, as Beijing steps up efforts to. . .  Full story

Singapore cuts 2019 core inflation forecast as prices hit 3-yr low

23/08 Singapore's core inflation eased to its slowest pace in more than three years in July, data showed on Friday, prompting authorities to downgrade their full-year forecast amid firming bets for monetary policy easing.. . .  Full story

Japanese stocks gain, strained S.Korea ties lift defence sector

23/08 Japanese stocks rose on Friday, drawing support from a weaker yen, firmer Chinese and U.S. markets, and a jump in domestic defence shares as ties with South Korea sour further.. . .  Full story

Japanese utilities start selling uranium fuel into depressed market

23/08 Japan's nuclear operators are starting to sell some of their huge holdings of uranium fuel, as chances fade of restarting many more reactors eight years after the Fukushima nuclear disaster.. . .  Full story

JGBs slip after Fed officials temper rate-cut expectations

23/08 Japanese government bond prices slipped on Friday after comments from Federal Reserve officials tempered expectations for further U.S. interest rate cuts and reinforced market view that there is no pre-set path for more cuts.. . .  Full story

China, Hong Kong stocks firm on trade hopes

23/08 China and Hong Kong stocks rose on Friday, bolstered by hopes for potential progress in Sino-U.S. trade negotiations as the United States still plans in-person talks next month.. . .  Full story

China's coal demand to peak around 2025, global usage to follow -report

23/08 China's coal demand will start to fall in 2025 once consumption at utilities and other industrial sectors reaches its peak, a state-owned think tank said in a new report, easing pressure on Beijing to. . .  Full story

Japan's July factory output likely staged modest rebound

23/08 Japan's factory output likely staged only a modest rebound in July from the previous month's tumble, a Reuters poll showed, a sign U.S.-China trade frictions and slowing global demand will continue to weigh on. . .  Full story

Indonesia tells some Jakarta supermarkets to remove 'palm oil-free' products

23/08 Indonesia, the world's top palm oil producer, has told some retailers in Jakarta to remove food products with "palm oil-free" labels from their shops, a government official said, as it seeks to protect its. . .  Full story

Japan's July core inflation hovers at 2-yr low, adds pressure on BOJ

23/08 Japan's core consumer inflation wallowed at a two-year low in July, increasing pressure for the central bank to acknowledge price momentum was slowing and expand its radical stimulus programme.. . .  Full story

Japanese shares edge up, defence sector gains on strained S.Korea ties

23/08 Japanese stocks edged higher on Friday, drawing support from U.S. markets, with investors eyeing a speech later in the global day from Federal Reserve Chairman Jerome Powell for any clue on further easing in. . .  Full story

China cenbank's maturing bills, repos next week

23/08 Maturing Chinese central bank reverse bond repurchase agreements will drain 270 billion yuan ($38.08 billion) next week. The People's Bank of China (PBOC) has drained 570 billion yuan on a net. . .  Full story

China cenbank weekly open market operations at a glance; PBOC drains 570 bln yuan YTD

23/08 The People's Bank of China (PBOC) has drained 570 billion yuan ($80.48 billion) on a net basis from money markets via open market operations (OMOs) so far this year.. . .  Full story

CME cattle futures extend climb on robust packer margins

23/08 Chicago Mercantile Exchange live cattle futures advanced for a fourth straight session on Thursday, led by the nearby August contract as robust profit margins for beef packers fueled expectations of strong demand for cash cattle,. . .  Full story

Insurer AIA first-half new business jumps on Hong Kong, China demand

23/08 Asia-focussed insurer AIA Group Ltd on Friday posted a 20% rise in new business for the first half of the year, as it sold more insurance products in its main markets of Hong Kong. . .  Full story

Zambia determined to find another investor for Konkola mine - mines minister

22/08 The Zambian government is determined to "urgently secure" an investor for Konkola Copper Mines (KCM) once the court processes over the disputed liquidation of the mine are concluded, the mines minister. . .  Full story

Indians pawning the family gold amid credit crunch

22/08 Refused a loan by a state-run lender and desperate for funds to buy cotton seeds before the summer sowing season window closed, Indian farmer Babasaheb Mandlik ran out of choices - he pawned his wife's. . .  Full story

India imports 4.6 mln bpd oil in July, up 1.5% y/y - trade

22/08 India imported about 4.6 million barrels per day (bpd) of oil in July, a growth of about 1.5% from a year earlier, according to data from shipping and industry sources.. . .  Full story

S.Korea's top court to rule on Samsung heir's bribery case on Aug.29

22/08 South Korea's Supreme Court is to rule next Thursday on whether to uphold a reduced sentence given to Samsung Group heir Jay Y. Lee or ask an appeals court to revisit a case that. . .  Full story

Cambodia says EU rice tariffs hurting farmers

22/08 Cambodia said on Thursday European Union tariffs on its rice had hurt half a million farmers with a sharp decline of exports to the bloc, as it reviews the Southeast Asian nation's duty-free trading. . .  Full story

China local bond issuance hits $239 bln in Jan-July, over 78% of annual quota

22/08 China's local governments issued a net 1.69 trillion yuan ($238.5 billion) in special bonds in the first seven months of the year, the finance ministry said on Thursday, accounting for 78.4% of the. . .  Full story

SE Asia Stocks-Indonesia cuts losses after surprise rate trim

22/08 Indonesian stocks cut losses to close slightly lower on Thursday as a surprise interest rate reduction by the central bank calmed investors worried about a possible economic slowdown, while Philippine shares extended falls to their. . .  Full story

Hong Kong stocks fall as protests, trade worries linger

22/08 Hong Kong stocks closed lower on Thursday, amid persistent worries over political protests and Sino-U.S. trade tensions.. . .  Full story

Foreign investors sell Japanese stocks for 3rd straight week

22/08 Foreigners were net sellers of Japanese stocks for the third consecutive week that ended on Aug. 16, as simmering Sino-U.S. trade tensions and fears of a global recession soured investor sentiment.. . .  Full story

China stocks end higher, bolstered by consumer firms

22/08 China stocks ended a volatile session higher on Thursday, as gains in consumer companies countered lingering worries over a bruising trade war with the United States.. . .  Full story

S.Korea fin min says seeking to boost budget by nearly 9% for 2020

22/08 South Korea's finance minister said on Thursday the government was seeking to increase the budget for next year by nearly 9% over the original budget for this year, to support an economy hit hard. . .  Full story

Longer-dated JGBs track U.S. Treasuries lower

22/08 Prices of longer-dated Japanese government bonds (JGBs) dipped on Thursday, tracking an overnight retreat by their U.S. counterparts, although the market was confined to a narrow range ahead of a central bankers' meet at Jackson. . .  Full story

Japan stocks flat ahead of Jackson Hole; Shiseido gains

22/08 Japanese stocks were little changed on Wednesday, as investors refrained from betting heavily in either direction ahead of a key central bankers' gathering in the United States, which could provide markets with some near-term cues.. . .  Full story

Tokyo skyline reaches for new heights with $5.5 bln Mori project

22/08 Mori Building Co has started work on a $5 billion real estate project that will include Japan's tallest building and an emphasis on overseas residents, in the latest sign of developers' bullishness on Tokyo. . .  Full story

Hong Kong stocks fall as protest worries linger; China slips

22/08 Hong Kong stocks fell on Thursday, amid persistent worries over political protests and doubts around aggressive rate cuts ahead by the U.S. Federal Reserve.. . .  Full story

China considers testing no-go zones for gasoline vehicles -ministry

22/08 China is considering testing a ban on gasoline-powered vehicles in some parts of the country and may set a timetable to eventually phase out such vehicles, according to the industry ministry.. . .  Full story

S.Korea end-June household credit growth hits nearly 15-year low

22/08 South Korea's outstanding household debt grew at its slowest year-on-year pace in almost 15 years in the June quarter, central bank data showed on Thursday.. . .  Full story

Japan's Nikkei little changed ahead of Jackson Hole; Shiseido advances

22/08 Japan's Nikkei was little changed on Wednesday, as investors held positions ahead of a key central bankers' gathering in the United States, which could provide markets with some near-term cues.. . .  Full story

S.Korea's c.bank warns of economic impact from Japan's export curbs

22/08 South Korea's central bank warned on Thursday that export curbs on some Japanese goods imposed by Tokyo could have a bigger impact on the domestic economy than the customary tariff increases.. . .  Full story

Japan Aug manufacturing shrinks for 4th month as export orders fall-flash PMI

22/08 Japanese manufacturing activity shrank for a fourth straight month in August as export orders fell at a sharper pace, a preliminary business survey showed on Thursday.. . .  Full story

CME cattle futures rise on strong beef demand; lean hogs sag

22/08 Chicago Mercantile Exchange live cattle futures closed higher on Wednesday for a third session as strong demand for beef ahead of the Labor Day holiday bolstered margins for meat packers, traders said.. . .  Full story

Israel, South Korea forge free trade deal

21/08 Israel and South Korea concluded three years of negotiations on a free trade agreement on Wednesday, hoping to build on a more than 15% jump in bilateral trade last year to $2.5 billion.. . .  Full story

India's monsoon rains above average for fourth straight week

21/08 Monsoon rains in India in the week through Wednesday were above average for a fourth straight week, the weather office said, with floods hitting many districts in the northern parts of the country.. . .  Full story

Weak growth is highest priority - India cenbank policy minutes

21/08 Fixing India's weak growth has become the highest priority while a benign inflation outlook has given the central bank room to cut rates although transmission remains inadequate, monetary policy committee meeting minutes showed.. . .  Full story

Chinese animal feed group Dabeinong's profit hit by swine fever

21/08 Chinese animal feed maker Beijing Dabeinong Technology Group Co Ltd said on Wednesday its first-half net profit plunged 67.67% as an African swine fever outbreak hurt feed demand and hit earnings from its pig farms.. . .  Full story

India market regulator allows rating agencies to collect clients' debt data

21/08 India's markets regulator on Wednesday allowed credit rating agencies to obtain details of clients' existing and future debt, in a bid to help them identify defaults in a timely way, amid a severe credit. . .  Full story

Japan, S.Korea agree on need for dialogue to resolve feud on wartime labour

21/08 Japan and South Korea on Wednesday agreed on the need for dialogue to resolve a feud over compensating Korean wartime workers that has spilled into trade, and put a deep chill on ties between. . .  Full story

SE Asia Stocks-Most fall as focus turns to Fed

21/08 Most Southeast Asian stock markets closed lower on Wednesday as investors anxiously awaited a couple of U.S. Federal Reserve events for clues on further rate cuts, while Thai shares gained on strong export data.. . .  Full story

South Korean tourists shun Japan over trade row

21/08 The number of South Korean tourists visiting Japan fell last month to its lowest in nearly a year as visitors cancelled travel plans amid deteriorating relations between the neighbours, Japanese government data showed on Wednesday.. . .  Full story

Hong Kong shares end firmer; eyes on Fed minutes

21/08 Hong Kong stocks closed a tick higher on Wednesday, while markets bet on central banks to ease policy and stave off fears of global economic slowdown amid consistent headwinds from the Sino-U.S. trade dispute.. . .  Full story

Bank of East Asia warns of protest impact on HK SMEs as H1 profit dives

21/08 Further protests in Hong Kong could hit the city's economy, especially the small and medium enterprises (SMEs), Bank of East Asia warned on Wednesday, after reporting a 75% plunge in its first-half net profit due. . .  Full story

China stocks dither ahead of central bank signals

21/08 Chinese stocks were largely unchanged on Wednesday as the market awaits clues from policymakers at home and abroad this week on further support to shore up growth amid a protracted trade war between the. . .  Full story

China's Tianjin govt orders Bohai Steel restructuring start by Sept -sources

21/08 The government of the Chinese city of Tianjin, the only shareholder of bankrupt Bohai Steel Group Ltd, is demanding that Bohai's creditors and strategic investor implement a bankruptcy restructuring plan by the end of September,. . .  Full story

Thailand approves $682 million in new rice insurance scheme

21/08 Thailand's National Rice Policy Committee, chaired by Prime Minister Prayuth Chan-ocha, on Wednesday announced 21 billion baht ($682 million) in subsidies to help stabilize prices for rice farmers hurt by drought and a strong baht.. . .  Full story

China shares flat as market awaits central bank cues

21/08 Stocks in Shanghai were little changed on Wednesday as investors awaited more signals on policy easing at home and abroad, with trade risks continuing to weigh on sentiment.. . .  Full story

CME live cattle futures climb on robust wholesale beef demand

21/08 Chicago Mercantile Exchange live cattle futures closed higher on Tuesday for a second session, supported by strong wholesale beef demand ahead of the U.S. Labor Day holiday weekend, analysts said.. . .  Full story

S.Korea July producer prices drop y/y, first fall in nearly 3 years

20/08 South Korea's producer prices index (PPI) dropped in July on an annual basis for the first time in nearly three years, central bank data showed on Wednesday, underlining lower inflationary pressures and supporting further policy. . .  Full story

Egypt's Banque du Caire expects to sell minority stake by early 2020

20/08 The head of Egypt's state-owned Banque du Caire told reporters on Tuesday that he expects to sell 30-40% of the bank by the end of 2019 or in early 2020.. . .  Full story

China trims lending rates with new benchmark, more cuts expected

20/08 China lowered its new lending reference rate slightly on Tuesday, as expected, as the central bank kicked off interest rate reforms designed to reduce corporate borrowing costs in the world's second-largest economy.. . .  Full story

Indian shares end lower; financials, consumer stocks weigh

20/08 Indian shares settled lower on Tuesday, led by a fall in financial and consumer stocks with Yes Bank Ltd closing at its lowest in over six years.. . .  Full story

Bank of Jinzhou says to record net loss of up to 5 bln yuan in 2018

20/08 Bank of Jinzhou said it expected to post a net loss of about 4 billion yuan ($566.38 million) to 5 billion yuan in 2018, according to a profit warning it filed to Hong Kong. . .  Full story

SE Asia Stocks-Singapore, Malaysia gain in line with broader Asia; Thailand down

20/08 Singapore and Malaysian stocks rose on Tuesday, in line with broader Asia as stimulus proposals in major economies muted recession fears, while Thai shares retreated as the government cut its 2019 economic growth forecast.. . .  Full story

China's Xinfa shuts aluminium capacity in Xinjiang after blast - sources

20/08 Xinfa Group, one of China's top aluminium producers, has shut down an aluminium production line after an explosion at a plant in the northwestern Chinese region of Xinjiang, according to a company source.. . .  Full story

Taiwan export orders fall for 9th month but Christmas bounce kicking in

20/08 Taiwan's export orders contracted for a ninth straight month in July though at a slower pace than expected, which might signal demand for new electronic products as the peak year-end season for gadgets approaches.. . .  Full story

Indonesia will implement IMO low-sulphur fuel rule on schedule -ministry

20/08 Indonesian-flagged ships will comply with new low-sulphur fuel rules that start next year, the country's Ministry of Transportation said on Tuesday, after earlier saying more time was needed to meet the requirement.. . .  Full story

Hong Kong stocks snap four-day rally on profit-taking

20/08 Hong Kong stocks ended lower on Tuesday as investors locked in profit after a four-day winning streak following Beijing's interest rate reform, which boosted riskier assets and tempered recession fears.. . .  Full story

Thai finance ministry cuts 2019 GDP growth forecast to 3%

20/08 Thailand's finance ministry cut its 2019 economic growth forecast to 3.0% from the 3.8% it projected in April, due to falling exports. .. . .  Full story

China stocks slip, rate reform in focus

20/08 China stocks ended slightly lower on Tuesday as investors took a breather following a strong rally in the previous session and pondered the extent and impact of Beijing's interest rate reform.. . .  Full story

INSIGHT-Besieged Kashmiri neighbourhood in test of wills with India's Modi

20/08 For more than a week, the young men of Soura, a densely populated enclave in Kashmir's main city of Srinagar, have been taking turns to maintain an around-the-clock vigil at the entry points to. . .  Full story

Japan allows further exports of high-tech material to S.Korea

20/08 Japan has approved shipments of a high-tech material to South Korea for the second time since imposing export curbs last month, two sources said, ahead of talks by government officials this week to resolve. . .  Full story

India govt panel recommends across board corporate tax cut to 25% -source

20/08 An Indian government panel has recommended cutting the corporate tax rate to 25% from 30% for all companies and scrapping surcharges on tax payments, an official said on Tuesday, part of a major overhaul. . .  Full story

JGB yields edge up across curve as stimulus hopes continue

20/08 Japanese government bond yields edged higher across the curve on Tuesday due to a calmer tone in world markets and continued expectations for fresh stimulus measures in major economies.. . .  Full story

Napier Port soars on debut as investors toast rare New Zealand listing

20/08 Napier Port Holdings, the operator of New Zealand's fourth-largest port by container volume, debuted at a 12% premium to its offer price on Tuesday, as investors scooped up shares in a rare listing on. . .  Full story

China, Hong Kong stocks flat after new lending reference rate

20/08 China and Hong Kong stocks barely moved on Tuesday as investors took a breather and pondered the extent and impact of Beijing's interest rate reform.. . .  Full story

FEATURE-Elderly in Hong Kong looking to China for affordable care in retirement

20/08 After spending time with his 84-year-old mother in a senior care home in the southern Chinese city of Shenzhen, David Lee walked up to the supervisor and asked to reserve a place there for. . .  Full story

Japan Inc expresses understanding of Tokyo's tough trade stance vs Korea

20/08 Japanese companies broadly support Prime Minister Shinzo Abe's tough trade stance against South Korea, a Reuters poll found. The Corporate Survey also found three-fourths of Japanese companies aren't raising. . .  Full story

Faced with global downturn fears, Japan Inc avoids raising bonuses

20/08 Three-fourths of Japanese companies aren't raising annual bonuses this summer, a Reuters poll found, a sign many see growth sputtering in the world's third-largest economy as the U.S.-China trade war stokes fears of a global. . .  Full story

CME cattle futures rise on larger-than-expected weekly slaughter

20/08 Chicago Mercantile Exchange live cattle futures closed higher on Monday after U.S. government data showed last week's hog slaughter was bigger than the previous week's, despite a fire that shuttered a Kansas beef plant.. . .  Full story

India exempts shadow lenders from debenture reserve requirements

19/08 India's non-banking financial firms and listed companies that issue debentures will no longer have to maintain a certain level of redemption reserves against them, the government said on Monday, in an effort to increase the. . .  Full story

China to base new lending benchmark on medium-term rates; shares rally on rate cut hopes

19/08 China's announcement of key interest rate reforms over the weekend has fuelled expectations of an imminent reduction in corporate borrowing costs in the struggling economy, boosting share prices on Monday.. . .  Full story

ANZ slashes forecast for India's GDP growth in 2019/20 to 6.2%

19/08 The Australia and New Zealand Banking Group (ANZ) slashed its forecast for India's economic growth to 6.2% in the financial year ending next March from a previous estimate of 6.5%, warning it would be. . .  Full story

S.Korea to probe interest rate derivatives sales

19/08 South Korea's financial regulator said on Monday it would investigate interest rate derivative products sold by banks and brokerage firms that put investors at risk of losing nearly all their money.. . .  Full story

SE Asia Stocks-Most rise as China rate reforms boost sentiment

19/08 Most Southeast Asian stock markets closed higher on Monday as investors cheered interest rate reforms by China's central bank, with Philippine shares adding nearly 2%. The People's Bank of China. . .  Full story