Asia

  • 2019-04-19 00:25


    TOKYO (MNI) - The Bank of Japan on Friday unexpectedly reduced the scale of its purchases of longer-end Japanese government bonds.

    - The BOJ Friday lowered its purchases of JGBs with a remaining life of 10 to 25 years to Y160 billion from Y180 billion. The reduction was the first since Feb 12 when the BOJ lowered the scale to Y180 billion from Y200 billion.

    - The amount of purchase of JGBs with a remaining life of more than 25 years was lowered to Y40 billion from Y50 billion. That cut was the first since Sept 21 2018 when the BOJ lowered the scale of Y50 billion from Y60 billion.

    - The reduction weren't expected by JGB players and the operations increased upward pressure on bond yields.

  • 2019-04-18 20:45


    TOKYO (MNI) - Japanese corporate demand for financing via bank loans in April fell from three months ago as the slowing global economy decreased companies' sales and capital investment, according to the Bank of Japan's quarterly survey of senior loan officers at 50 banks released Friday.

    The index for corporate fund demand -- calculated by subtracting the number of banks reporting a decline in lending from the number of those reporting an increase -- came in at +3 in April, down from +4 in January.

  • 2019-04-18 20:30


    --Japan Core CPI Up 0.8% y/y In March Vs. +0.7% in February

    TOKYO (MNI) - Japan's nationwide core consumer price index rose 0.8% on year in March, accelerating from +0.7% in February. However, Bank of Japan officials maintain cautious on the outlook as they don't expect the rising trend to accelerate sharply.

    The March core CPI continued to be boosted by positive contribution from energy prices (0.39 percentage point in March vs. 0.34 percentage point in February and 0.37 percentage point in January).

    The underlying inflation rate measured by the core-core CPI (excluding fresh food and energy) rose 0.4% on year in March, unchanged from February.

  • 2019-04-18 02:55


    BEIJING (MNI) - China's current account may continue a surplus in the first quarter on exports of goods and services remaining strong, the State Administration of Foreign Exchange (SAFE) said.

  • 2019-04-18 01:31


    BEIJING (MNI) - China's strong growth in the first quarter lifted the government's confidence in meeting all economic and social development targets this year, the National Development and Reform Commission said on Thursday.

    Here are some highlights noted by MNI from a briefing by spokesman Yuan Da.

    - The advancement of traditional and emerging industries, robust consumer demand, stable investment and recovering trade growth assured policymakers that they are on the right path. Q1's economic indicators are usually the bellwether of the whole-year growth.

    - The commission will strictly prevent and resolve risks of hidden debt raised by local governments and closely validate their applications for construction projects.

  • 2019-04-17 07:16


    --Repeat of story originally published at 0603GMT April 17

    TOKYO (MNI) - Despite rapid growth in real estate loans, the Bank of Japan still sees financial and economic activities as a whole showing no signs of overheating such as seen through the late 80's 'bubble', the BOJ's biannual Financial System Report released Wednesday said.

    However, the report said "possible vulnerabilities of the real estate market warrant close attention."

    The latest FSR again pointed to the accumulated risks caused by prolonged easy policy, but the comments will not prompt the BOJ board to unwind it anytime soon.

    The report also said regional financial institutions have generally not been able to secure profits commensurate with the increase in risk-weighted assets, while their capital

  • 2019-04-17 05:38


    BEIJING (MNI) - China's industrial output in March soared at the fastest in more than four years while investment also gained, helping stabilize growth in the first-quarter at 6.4%, beating the 6.3% median of a forecast surveyed by MNI.

    Industrial output jumped 8.5% y/y last month from the pace of 5.3% in the first two months, data by the National Bureau of Statistics released on Wednesday showed. That beat the forecast 6.0% projected by MNI.

    Some analysts suspected that the surge may partly be caused by seasonal swings. Most factories started production in March, earlier than last year's seasonal start in April, as the Chinese New Year holiday came in about 10 days earlier.

  • 2019-04-17 02:03


    TOKYO (MNI) - Despite rapid growth in real estate loans, the Bank of Japan still sees financial and economic activities as a whole showing no signs of overheating such as seen through the late 80's 'bubble', the BOJ's biannual Financial System Report released Wednesday said.

    However, the report said "possible vulnerabilities of the real estate market warrant close attention."

    The latest FSR again pointed to the accumulated risks caused by prolonged easy policy, but the comments will not prompt the BOJ board to unwind it anytime soon.

    The report also said regional financial institutions have generally not been able to secure profits commensurate with the increase in risk-weighted assets, while their capital adequacy ratios and stress resilience have declined moderat

  • 2019-04-17 01:32


    --Japan March Exports Fall -2.4% Y/Y After -1.2% In February

    TOKYO (MNI) - Japan's exports fell again in March, posting a fourth straight drop, indicating exports continue to be hit by slowing global demand, with Bank of Japan officials watchful over the outlook.

    BOJ officials are looking at how recovering domestic demand in China will boost Japan's exports of capital goods, automobiles and electronic parts and devices this month to see whether examine the exports have bottomed.

    Exports, a main driver for Japan's economy, fell 2.4% on year in March following a 1.2% decline in February, beating the MNI median forecast of a 2.7% fall, led by lower exports steels, auto parts and optical equipment.

    Exports to China fell 9.4% on year in March following a gain of 5.6% in

  • 2019-04-16 03:54


    BEIJING (MNI) - China's local governments have quickened the pace of issuing bonds under central fiscal authority's order to help support growth, the Ministry of Finance said.

    Regional authorities this year have sold bonds about four to five months ahead of the pace of last year, a spokesman told reporters in a briefing on the first-quarter's fiscal standing.

    While the implementation of the value-added-tax cuts places pressure on fiscal income, the government is confident that this year's fiscal growth targets will be met, the ministry also said.

    --MNI Beijing Bureau; +86 10 8532 5998; email: william.bi@mni-news.com

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