Financial Market Related News around the Region

SINGAPORE

1) Recent media reports predicting that private home rents will take a steep dive next year are certainly alarming. But a closer look at the numbers suggests that they may not take such a beating after all. read more here.

MALAYSIA

1) 'We will announce the new growth target (for this year) officially on August 29 in the presentation of the Budget 2009,' Mr Nor Mohamed said. 'Growth will be positive and significantly so.' Read more here.

2) THE next three to four weeks would be crucial for the Government before it can decide on further measures to cushion the impact of the volatile crude oil price. Read more here.

HONG KONG

1) HKEx chief executive Paul Chow Man-yiu said yesterday the short-selling tick rule would be temporarily reinstated for five consecutive trading days if the stock market drops 5 percent, as required by the Securities and Futures Commission. He said the stock exchange has to further consult the market for the tick rule's relaxation as it involves potential technical problems. Read more here.

THAILAND:

1) Thailand's inflation accelerated at the fastest pace in a decade in July, gaining 9.2% from the same month a year ago due to surging oil and food prices. Read more here.

2) The ministry today will cut the subsidy of 40 satang a litre that had been absorbed by the state Oil Fund since February, and impose a levy of 10 satang to wipe out the benefit if the retail price reduction. Read more here.

VIETNAM

1) Joint venture or wholly-foreign invested financial companies must have total assets worth more than US$10 billion by the end of the year before applying for licensure. Read more here.

2) It will take businesses a maximum of just five days to receive business registration certificates, according to a new inter-ministry circular released on Tuesday. It was ten days previously. Read more here.

3) A General Statistics Office report said electronic and computer-component exports reached US$1.44 billion in the first seven months of the year, a year-on-year increase of 29 per cent. Read more here.

4) Accounting and consulting firm Grant Thornton Viet Nam’s latest survey results on Viet Nam’s hotels show increases in average room rates and number of rooms. Read more here.