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Asia Economy

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  • TOKYO, May 22- The Bank of Japan offered a slightly more upbeat view of the economy on Friday and its governor shrugged off the need for more monetary stimulus, dismissing market concerns that the recovery is too slow to accelerate inflation toward the bank's target. That followed data on Wednesday which showed Japan's economy expanded at the fastest pace in a...

  • Wall Street's record high on Thursday lifted Asian stocks on Friday, a day that will be packed with key European and U.S. economic data as well as speeches from Federal Reserve chair Janet Yellen and European Central Bank president Mario Draghi. European shares struggled to match that, but the leading index of European shares was still poised for its biggest...

  • *CPI data due 2330 GMT, output due 2350 May 28. TOKYO, May 22- Japan's consumer inflation remained subdued in April on lower energy costs, adding pressure on the Bank of Japan after already two years of massive stimulus aimed at banishing deflation. "The actual condition of the economy lacks momentum," said Takumi Tsunoda, senior economist at Shinkin Central Bank...

  • FOREX -Dollar surge cools, eyes on Yellen, inflation Friday, 22 May 2015 | 3:50 AM ET

    LONDON, May 22- The dollar edged lower on Friday but remained on course for its first week of gains against the euro and a basket of major currencies since the start of April ahead of inflation numbers later in the day. Dealers said there might be little appetite for another big move ahead of UK and US public holidays on Monday. The yen was up around a quarter of a...

  • TOKYO, May 22- Japanese government bonds edged down on Friday, pressured by rallying stocks and investors' wariness ahead of a 20- year auction next week. A short while earlier, the Bank of Japan said it was maintaining its massive monetary stimulus as expected, and slightly revised up its assessment of the economy, signalling that it sees no need to expand stimulus...

  • TOKYO, May 22- The Bank of Japan maintained its massive stimulus programme and offered a slightly more upbeat view of the world's third-largest economy on Friday, citing a modest rebound in consumption and exports. That added to some signs of hope from Wednesday's data that showed Japan's economy expanded at the fastest pace in a year in January-March due to...

  • HONG KONG— Chinese stocks hit a seven-year high as investors pinned their hopes on further economic stimulus while most other world markets were subdued Friday ahead of a speech by Federal Reserve chair Janet Yellen. Britain's FTSE 100 gained 0.3 percent to 7,033.44. CHINA RALLY: Investors who weren't allocated shares in recent initial public offerings are...

  • Thailand coup one year on: Stable but stuck? Friday, 22 May 2015 | 12:51 AM ET
    Thai soldiers parade during celebrations of the Royal Thai Armed Forces Day at a military base in Bangkok, Thailand on January 18, 2015

    One year after Thailand's coup, politics may have stabilized, but investors are cautious amid doubts over when the military junta might relinquish power.

  • SINGAPORE/ TOKYO, May 22- The dollar edged lower versus a basket of major currencies on Friday in the wake of unimpressive U.S. economic data, with investors awaiting speeches by major central bankers. Against the yen, the dollar sagged slightly after the Bank of Japan maintained its massive monetary stimulus, as expected, and slightly revised up its assessment of...

  • *BOJ Governor Kuroda to brief media 0630 GMT. TOKYO, May 22- The Bank of Japan maintained its massive stimulus programme and offered a slightly more upbeat view of the world's third-largest economy on Friday, as a modest rebound in consumption helped service-sector sentiment improve to a one-year high. That added to some signs of hope from Wednesday's data that...

  • TOKYO, May 22- The Bank of Japan maintained its massive monetary stimulus on Friday and offered a slightly more upbeat view of the economy, unfazed by first-quarter GDP data that offered mixed signs on the strength of the recovery. At his post-meeting news conference, Governor Haruhiko Kuroda is likely to stress that Japan is on track to hit the bank's ambitious...

  • Goldman: 'China is heading in a good direction'   Thursday, 21 May 2015 | 7:14 PM ET
    Goldman: 'China is heading in a good direction'

    Mark Schwartz, vice chairman of Goldman Sachs Group, likes the "confidence and inspiration" of China's leaders who are pushing through political and structural reforms.

  • *PMIs point to 0.4 pct euro zone growth in Q2- Markit. LONDON/ NEW YORK, May 21- U.S. and euro zone business growth slowed in May while China's factory sector contracted again, reinforcing the need for major central banks to continue supporting economic growth. Growth in euro zone business activity also weakened in May, just two months after the European Central Bank...

  • ANKARA, May 21- A Turkish parliamentary candidate tipped as a key member of the next government's economic team said on Thursday that Turkey could ill afford to loosen monetary or fiscal policy while the global economy remains fragile. Naci Agbal, who resigned as finance ministry undersecretary in February to run as a ruling AK Party candidate in the June 7...

  • NEW DELHI, May 21- India's central bank is working to liberalize its foreign exchange rules to make it easier to do business with Asia's third-largest economy, Deputy Governor H.R. Khan said on Thursday, a step that could support flagging exports. "We have got a positive response from the RBI and it could soon issue directions to banks," said S.C. Ralhan, president of...

  • KITTEH, Jordan— Fawziyeh Sharif and dozens of other young women who make jeans for the U.S. market in a factory in this village in northern Jordan consider themselves lucky— even though they spend 48 hours a week bent over sewing machines for minimum wage. The problem has been debated by regional decision-makers for years, but has taken on even greater urgency with...

  • TOKYO— Vying to keep pace with China's rising influence and economic clout, Japan plans to provide $110 billion to help develop roads, ports and other infrastructure in Asia in the next five years, Prime Minister Shinzo Abe said Thursday. "Asia has a voracious infrastructure demand, reaching as much as 100 trillion yen annually," Abe said, adding that "we should seek'...

  • Kyrgyzstan ratifies joining Russia-led trade bloc Thursday, 21 May 2015 | 6:40 AM ET

    BISHKEK, Kyrgyzstan— The Central Asian country of Kyrgyzstan has ratified a measure to join the Eurasian Economic Union, a Russia- led trade bloc. The country's entry must then be approved by the parliaments of the other members— Russia, Kazakhstan, Armenia and Belarus. Russia pushed hard for Ukraine to join the bloc, but opponents saw it as an attempt by Moscow to...

  • *PMIs point to 0.4 pct euro zone growth in Q2- Markit. *No signs of a Q2 pickup in Asia- HSBC. LONDON/ SYDNEY, May 21- Euro zone business growth was weaker than expected this month and factory activity in Asia's top two economies remained stuck in low gear, putting the onus squarely on the United States to drive a pick-up in global growth.

  • ULAN BATOR, May 21- Cash-strapped Mongolia's deal to expand the $6.5 billion Oyu Tolgoi mine is a big step towards stabilising its economy, but as it waits for the investment boost to feed through it is leaning on once-feared China to help shore up its finances. China helped Mongolia's central bank stave off economic collapse with a currency swap agreement to...

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