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China's vigorous attempts to tame risks from its fast buildup in debt aren’t working as rapidly as expected and credit surge is still excessively fast, as S&P Global Ratings told on Friday, just a day after it dared to have the Asian country's sovereign credit rating downgraded.
While S&P informed months ago that a downgrade might be on the cards, the organization told it made up its mind to make the call having concluded that China's "de-risking" drive, which broke out early this year impacted credit surge less than initially expected.
Notwithstanding the Chinese authorities have demonstrated greater resolve to implement the deleveraging policy, S%P keeps observing overall credit in the corporate sector to stick to 9%, as an S&P senior director of sovereign ratings, Kim Eng Tan revealed in a conference call to explain the one-notch downgrade to from AA- to A+.
Tan added that broader lending by all banks, excluding equity fund-raising, has started soaring having surged by a relatively firm 12-13% for the last few years.
In 2019, home prices in some smaller Chinese cities could inch down due to the fact that the world's number two economy speeds down, while the Chinese cabinet is anticipated to step in to withstand any precipitous dive…
APEC meetings during the weekend added uncertainties to the future of the US-China trade negotiations. What else will attract the eyes of traders during this week? Let's find out!
In October, Japan's exports rebounded, reversing from September’s steep dive because US-bound auto shipments rallied, although decelerating global demand along with the intensifying US-China trade conflict worsened the outlook for export-reliant Japan…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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