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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHousing market remains a ‘significant negative overhang’ for the China's economy: S&P Global RatingsLouis Kuijs of S&P Global Ratings says that China will need a 'little bit more work' to hit their around 5% GDP growth target and expects 4.6% GDP growth for the nation instead.
Persons: Louis Locations: China
China is on the cusp of a very modest recovery, S&P Global says
  + stars: | 2023-11-28 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina is on the cusp of a very modest recovery, S&P Global saysLouis Kuijs, chief APAC economist at S&P Global, says China sits on the cusp of a very modest recovery.
Persons: Louis Kuijs Organizations: China, P Global, P Locations: China
The Singles Day festival, also known as “Double 11,” was created by Alibaba in 2009 and has turned into a weeks-long shopping bonanza in China. To lure them, e-commerce platforms are offering rock bottom prices this Singles Day. “While the government is looking for solid consumption growth, consumer spending is hampered by both lower household income growth and weak consumer confidence,” said Louis Kuijs, chief Asia economist at S&P Global Ratings. This is a real downgrade in consumption,” the user said, adding she hadn’t yet spent any money during the current Singles Day. “Some promotions are fake,” said another user under the name “Nyanko.” “Merchants have raised prices before cutting them for Singles Day.
Persons: , Alibaba, Alibaba’s, JD.com’s, Pinduoduo’s, ” “, Alicia Yap, Zhejiang province Hu Xiaofei, Louis Kuijs, ” Kuijs, Jacob Cooke, , ” Cooke, Cooke, John Donahoe, Lululemon Organizations: Hong Kong CNN, Companies, Citi, , China’s, Technologies, Bain and Company, Pinduoduo, Nike, . Company, Starbucks Locations: China, Hong Kong, Beijing, Jinhua, Zhejiang province, Asia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina's economic slowdown: Beijing is 'not as alarmed' as many people are, economist saysLouis Kuijs, chief Asia economist at S&P Global Ratings, says that's why "we've seen that piecemeal manner in which they are looking at supporting the economy."
Persons: Louis Kuijs Locations: Beijing, Asia
A passerby walks past an electric monitor displaying various countries' stock price index outside a bank in Tokyo, Japan, March 22, 2023. S&P 500 futures , however, rose 0.3% while Nasdaq futures gained 0.4%, after Hollywood's writers union reached a preliminary labor agreement with major studios. In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) dropped 0.5%, edging back to a 10-month low plumbed just last week. U.S. central bank officials will be out in force this week, starting with Minneapolis Fed President Neel Kashkari on Monday. Brent crude futures rose 0.6% to $93.79 per barrel.
Persons: Issei Kato, Kazuo Ueda, HSI, Louis Kuijs, Neel Kashkari, Andrew Lilley, Stella Qiu, Himani Sarkar, Jacqueline Wong Organizations: REUTERS, Bank of Japan, Nasdaq, Japan's Nikkei, Hengda, Estate Group Co, U.S, Minneapolis, European Central Bank, Brent, . West Texas, Thomson Locations: Tokyo, Japan, Europe SYDNEY, China, U.S, Europe, Asia, Pacific, firming, U.S . Federal
A passerby walks past an electric monitor displaying various countries' stock price index outside a bank in Tokyo, Japan, March 22, 2023. The yen was jittery near the closely watched 150 per dollar level amid intervention fears, after the Bank of Japan made no change to its dovish monetary policy. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) dropped 0.6%, edging closer to a ten-month low plumbed just last week. Bruce Kasman, chief economist at JPMorgan, expects good news from U.S. and European inflation results this week, which should show low core inflation readings. The yen last traded at 148.41 per dollar, after hitting a fresh 10-month low of 148.49 earlier in the day.
Persons: Issei Kato, Kazuo Ueda, Hong, HSI, Louis Kuijs, Andrew Lilley, Bruce Kasman, Stella Qiu, Sonali Paul, Himani Organizations: REUTERS, Rights, Bank of Japan, Japan's Nikkei, U.S, JPMorgan, U.S ., Brent, . West Texas, Thomson Locations: Tokyo, Japan, China, U.S, Europe, Asia, Pacific, U.S . Federal
"Consumers are not spending, mainly driven by the bleak outlook for the property market. Disappointing retail numbers and property market sales show it doesn't seem that the boost from rate cuts is sufficient. ..the property market is beginning another slowdown - the government will have to come up with more stimulus for property." "Nonetheless, we think more stimulus is required to stabilise and restore confidence in the property market." ZHIWEI ZHANG, CHIEF ECONOMIST, PINPOINT ASSET MANAGEMENT, HONG KONG"Nominal GDP growth turns out to be lower than real GDP growth in Q2, the first time since comparable data are available in Q4 2016.
Persons: CHRISTOPHER WONG, LOUIS KUIJS, CAROL KONG, XING ZHAOPENG, KEN CHEUNG, ALVIN TAN, VISHNU VARATHAN, MARCO SUN, CHEN, TONY SYCAMORE, ZHIWEI ZHANG, JING LIU Organizations: Gross, National Bureau, Statistics, Shanghai, NBS, BANK OF, ANZ, MIZUHO BANK, OF, OF ASIA FX, RBC, MUFG BANK, IG, SYDNEY, Friday's, BANK OF SINGAPORE, HSBC, stoke, Authorities, Reuters, U.S, Thomson Locations: U.S, SINGAPORE, ASIA, HONG KONG, SYDNEY, CHINA, SHANGHAI, OF ASIA, China
Average Chinese factory demand isn't that great, economist says
  + stars: | 2023-04-11 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAverage Chinese factory demand isn't that great, economist saysLouis Kuijs, chief Asia economist at S&P Global Ratings, says that's because foreign orders are weak.
Hong Kong/Tokyo CNN Business —A quarter of a century ago, a major financial crisis ripped through Asia, shaking its economies to the core. “I do not expect a repeat of the [1997] Asian Financial Crisis this time,” said Khoon Goh, head of Asia research at ANZ Research. “Importantly, there is not the same build up of foreign denominated debt in recent years, which was one of the triggers of the Asian Financial Crisis,” Goh added. China and Japan have the world’s two biggest foreign exchange reserves, holding $3 trillion and $1.3 trillion respectively. “Asia’s resilience in the face of the current global storm is partly the result of reform that the Asian Financial Crisis prompted,” Neumann from HSBC said.
watch nowThe world economy may be facing conditions seen during the 1997 Asian Financial Crisis — aggressive U.S. interest rate hikes and a strengthening U.S. dollar. The Thai baht and other Asian currencies collapsed, triggering the Asian Financial Crisis and leading to slumps in stock markets. Reducing currency disparity with the U.S. dollar reduces the risks of capital flights and foreign exchange rate collapses. Nevertheless, he, too, does not anticipate another Asian Financial Crisis. watch now"They largely let exchange rates absorb the external pressure, rather than supporting the currency by selling FX reserves."
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