Financial markets/All

February 22, 2012

MARKET RAP

Asian stocks stutter

Hong Kong led most Asian markets lower during the week, as the economies in the region more dependent on the wider world stumbled on economic uncertainty at the global level and at home, while those having more to do with Asia itself maintain a more positive aspect.

- Robert M Cutler (Jul 15, '11)

Speaking Freely

Saudi Arabia in the age of uncertainty

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The Kingdom of Saudi Arabia has rested while they sit on the greatest proven oil reserves in the world. Meanwhile the world is watching as everyone is buying and trading while considering that the commodity is proving to have much more at stake.

- Abdelkader Zerougui (Mar 28, '11)

The aftershock doctrine

Further burdensome debt issuance by Japan is not the financing solution required when it starts rebuilding from its present crisis. The use of loans made directly to the land, rather than to the owner or occupier, is a better way forward, even if that spectacular 18th century failure John Law thought of it first.

- Chris Cook (Mar 17, '11)

Hong Kong's Tsang bows and delivers

Hong Kong Financial Secretary John Tsang, keeper of the city's vast financial reserves, has bowed to public pressure and will give cash directly back to taxpayers, rather then stash surplus money into inaccessible pension funds. The u-turn betrays his obligations and destroys the government's integrity, say critics.

- Olivia Chung (Mar 03, '11)

China's stocks take flight

Higher inflation and the feared impact of more money flooding into China from overseas are increasing the likelihood of further efforts by Beijing to cool the economy. The country's stock markets are taking the hint - and tumbling.

- Olivia Chung (Nov 15, '10)

Malaysia - gateway to Islamic finance

In the decade since being rocked by the 1997 Asian financial crisis, Malaysia has liberated its financial system while developing an institutional framework that has made the country pre-eminent in Islamic financing, a position it should maintain for years to come.

- Hossein Askari and Noureddine Krichene (Nov 03, '10)

IMF stumps up Pakistan aid

The International Monetary Fund is to give Pakistan US$450 million in immediate emergency funding while the World Bank has topped up its aid to the flood-stricken country to $1 billion. Yet to be decided by the IMF is if and when it will release more than $1 billion in loans agreed to in 2008.

- Syed Fazl-e-Haider (Sep 03, '10)

China backs Karachi refinery

China, demonstrating its continuing financial commitment to Pakistan, is to invest US$535 million to restart a refinery project in Karachi abandoned by foreign investors and contractors after the assassination of former prime minister Benazir Bhutto in 2007.

- Syed Fazl-e-Haider (Aug 31, '10)

SKS sale draws negative interest

George Soros-backed SKS Finance, which makes money by lending small sums to India's poorest businesses, is raising US$347 million through an initial public offering. That offends critics who gibe at the profits created by up to 30% interest rates that go with such loans.

- Raja Murthy (Jul 29, '10)

HENRY C K LIU

Pegs, boards and the IMF curse

THE POST-CRISIS OUTLOOK, PART 12
The instability of unregulated financial markets poses great danger (and the risk of International Monetary Fund intervention) for developing countries, as already seen from Asia to Argentina. And while the Chinese currency is playing an increased role in the global economy, that does not inoculate Beijing's partners against trade disputes.

- Henry C K Liu (Jul 28, '10)

China tries realistic ratings

China's Dagong rating agency makes clear that it sees the world without the rose-colored glasses of its US-based counterparts, which failed so dismally in their work ahead of the world's recent financial crises. For a start, the Chinese outfit gives due recognition to the grim long-term outlook of the US and UK economies.

- Joergen Oerstroem Moeller (Jul 27, '10)

Pakistan's IMF payout delayed

Islamabad will have to wait a bit longer before getting hold of the next US$1.3 billion handout from the International Monetary Fund, with crucial talks postponed as officials try to put together figures for the overshooting fiscal deficit. The delay could lead to more inflation pressure.

- Syed Fazl-e-Haider (Jul 27, '10)

China pulls the strings

Private capital appeared to be shunning the financial markets this week, following the lead of governments that no longer seemed willing to support their economies. Then China spoke up and, as a global stock market rally immediately followed, demonstrated its role as the world economy's new paterfamilias.

- Julian Delasantellis (May 28, '10)

SPENGLER

Ignore that Keynes behind the curtain

Few forecasters expected the Greek debt problem to threaten the world financial system, yet it has. And yet again, governments will claim to have "fixed" the problem and halted the rot. Perhaps the fix will hold for a while, or maybe the panic will spread. Either way, the markets now recognize such Keynesian short-term fixes are no solution to deep-rooted problems.

- Spengler (May 10, '10)

SINOGRAPH

Give us back the German empire

To stop the rot spreading from the Greek financial crisis, Germany should take over Europe - and do it fast. Unrest in Europe from the consequences of Berlin's failure to act would marginalize Europe and further decouple the Pacific's stellar growth from the Atlantic's. At present historical speed, Europe's decline to global irrelevance could take just a few years - just as China's rise was accomplished in two decades.

- Francesco Sisci (May 05, '10)

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MARKET RAP

Asian stocks stutter

Speaking Freely

Saudi Arabia in the age of uncertainty

The aftershock doctrine

Hong Kong's Tsang bows and delivers

China's stocks take flight

Malaysia - gateway to Islamic finance

IMF stumps up Pakistan aid

China backs Karachi refinery

SKS sale draws negative interest

HENRY C K LIU

Pegs, boards and the IMF curse

China tries realistic ratings

Pakistan's IMF payout delayed

China pulls the strings

SPENGLER

Ignore that Keynes behind the curtain

SINOGRAPH

Give us back the German empire

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