MARKET UPDATES
The Australian dollar weakened because of the bigger-than-expected unemployment rate…
China's economy goes up 6.8% in 2017
In 2017, China's economy is expected to ascend 6.8%, thus topping the state objective as well as accelerating for the first time in seven years, according to a Reuters survey. It’s because Beijing walks a tightrope by simply taming debt and also property risks without stunting economic surge.
Besides this, surge in the world's number two economy is expected to slow to 6.4% next year, as the Reuters survey of more than 65 market experts revealed. It’s because the property curbs along with efforts to deal with debt risks are believed to get more traction.
China's construction and property investment are seen slowing because more cities try to reduce surging housing prices, and a government campaign against riskier spurs borrowing costs, while a crackdown on pollution affects some factories.
Chinese economic surge in the fourth quarter of this year is supposed to cool to about 6.7% from 2016, although the full-year surge might hit 6.8%, according to the survey.
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Market updates on June 11
On Tuesday, the improved market sentiment supported risky assets such as stocks, emerging-market currencies, and crude oil.
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