Asia Property Market Review.net

Macro Economy & Financial Markets Review December

 

 

 

 December 30,  2016

                

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• 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)

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• 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) 

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• 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)

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• 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)

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• 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)    

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• 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)

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• 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)

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

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• 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)

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• 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)

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• 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)

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• 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)

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