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Macro Economy & Financial Markets Review December




 December 30,  2016




  • New Zealand central bank warned housing market risks when releasing stability report today; the bank said it has asked the Minister of Finance to agree to add a Debt to Income (DTI) tool to the memorandum of understanding on macro policy (November 30)

  • Australia  economy grew 1.8% in the third quarter from a year earlier, the gross domestic product (GDP) fell 0.5% from the previous quarter, when it gained a revised 0.6% during the quarter (December 7) 

  • China's November export rose 0.1% year on year on USD-based terms, import rose 6.7% during the same time; trade for the first 11 months in total shrank 12% from last year to USD475billion (December 8)

  • Numbers of visitors to Hong Kong from the mainland China fell 3.5% year-on-year in October, compared with September’s 5% decline. Overall visitor numbers were down 2.4% from October last year, data released by the government showed today (December  8)

  • Asian Development Bank(ADB) downgraded its 2016 growth forecast for Asia region to 5.6%, from previous its projection of 5.7%, in the release update today. For 2017, growth forecast so far remains unchanged at 5.7% (December 14)    

  • Singapore's October retail sales rose 1.7% from September helped by vehicle sales; excluding auto sales contribution, the retail sales was 1.5% higher than that in September (December  15)

  • The US Federal Reserve announced to raise federal fund rate today one year after the first hike in the past 10 years last year, by 25 basis points to 0.5% -0.75% range (December 16)

  • Moody's Investors Services today says Australia's budget update is in line with its triple A rating, rating unchanged (December 19)

  • Singapore's manufacturing output increased 11.9% in November from same month a year ago. The total output expanded 6.1% when compared with October, data released by the statistics bureau revealed (December 23)

  • Japan central  bank upgraded GDP growth rate forecast for 2017 to 1.7% from earlier projection of 1.5%. The central bank meanwhile held interest rate unchanged (December 21)

  • South Korea Ministry of Finance today revised down the projection of economy growth for 2017 to 2.6% from earlier estimate of 3.0% (December 29)

  • Hong Kong's passenger throughput rose 380,000 in Q3 from a year ago, but total visitor numbers shrank 540,000 during the same time frame, statistics department latest quarterly report revealed (December  27)


macro economy
Market View

Standard Charter estimate that China’s non-FDI capital outflows moderated to about USD59bn in October. The FX reserves reduction (excluding valuation changes) narrowed and banks’ net FX sales shrank during the month, indicating lighter intervention by the PBoC. Capital outflows may continue amid a broader USD advance; the authorities may use the CNY basket to anchor market expectations and manage the capital account to prevent large capital outflows







By Staff Writer, APMR News

Article  Published on : 2017 January 7, 19:45 pm GMT+800

Article  Last Updated : 2016 January 8, 11:10 am GMT+800

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