Tag Archives: Asia

Asian Trading Strategy

18 Aug



Exclusive: North Korea tells China of preparations for fresh nuclear test – source

16 Feb


China - North Korea(Reuters) – North Korea has told its key ally, China, that it is prepared to stage one or even two more nuclear tests this year in an effort to force the United States into diplomatic talks, said a source with direct knowledge of the message.

Further tests could also be accompanied this year by another rocket launch, said the source, who has direct access to the top levels of government in both Beijing and Pyongyang. Continue reading

China Lies Says Eaton CEO: Economy Grew Only 3-4% In 2012

6 Feb

China’s official 7.8 percent economic growth for 2012 may have overstated expansion by twice the real rate, and is only now headed for a “legitimate” 8 percent gain, Eaton Corp. Chief Executive Officer Sandy Cutler said.

Based on indicators such as consumer consumption and electric power usage, China’s gross domestic product probably grew 3 percent to 4 percent last year, Cutler said yesterday in a telephone interview. Growth is accelerating now that China is past the distractions from its leadership change, he said. Continue reading

BOJ expands asset purchase program – inflation target unchanged

20 Dec

Asia Wrap Thursday 20 Dec. 2012:

  • New Zealand Q3 GDP +0.2% (vs. +0.4% expected)
  • New Zealand December ANZ Business Confidence falls to 22.7 (vs. 26.4 in November)
  • Australia: The RBA slowed its pace of $A sales in Nov. to A$117 million (outright AUD sales lowest in 5 months), revealed the December Quarter RBA Bulletin
  • Australia: Treasurer Swan said a budget surplus this year was “unlikely”,  effectively dumping the government’s commitment to the surplus

Swan has dumped the surplus commitment – Surplus “unlikely”:

  • Lower tax revenues blamed: lower corporate profits
  • Government spending has been restrained
  • Terms of trade lower
  • Weak global economy
  • Strong budget position still
  • Inflation is contained
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