» 11/09/2011, 00.00
ASIA - CHINA
Berlusconi to resign, Chinese inflation slows, Asian markets climb
Asian markets have climbed and Italian bonds improved, one day after the Italian Prime Minister announced his upcoming resignation, as soon as essential austerity measures are approved. Stock markets also driven by positive news Chinese inflation, which slowed noticeably in October.
Hong Kong (AsiaNews / Agencies) - Asian stock markets climbed today on the back of yesterday’s announcement by Italian Prime Minister Silvio Berlusconi of his upcoming resignation and today’s announcement that China’s spiralling inflation slowed in October.
Hong Kong jumped to +2% before returning to +1.6% ; Tokyo registered +0.94% by midmorning, Seoul is up by 0.35%, Sydney also positive with +1, 37%.
Italian bonds were also positive, falling to 6.65% in Asia, a day after they had hit a record 6.77%.
Prime Minister Berlusconi was left without majority support yesterday, after a parliamentary vote and President Giorgio Napolitano announced that he will step down as soon as the package of austerity measures demanded by the European Union is approved. The announcement has raised expectations for an improvement of the Italian situation, after the current government is considered to have failed to take appropriate measures to reduce Rome’s huge foreign debt.
The positive trend was also helped by news that inflation in China has grown by 5.5% in October, down for the 3rd consecutive month compared to 6.1% in September and after a +6, 5% in July, a three year record.
Food prices are also down, by -0.2% in October, the first decline since May. The cost of food remains high however at 11.9% compared to October 2010, a result of strong increases in recent months.
In recent days, Prime Minister Wen Jiabao said he expected a price decrease, implying the willingness of Beijing to resume a policy of economic stimulus, by the end of 2010, China has taken measures to contain the liquidity of currency, increasing interest and curbing bank lending.
The inflation of production costs is also down, +5% in October after +6.5% in September.
Analysts expect a further cooling of inflation in the coming months, although others consider that prices have risen too much in recent months, with increases in double figures for the main food items. Many are now waiting to see the government's measures to stimulate the economy and what effects it will have on inflation.
30/09/2008 ASIA - U.S.
Depth of the abyss of economic, social, political chaos
The worldwide financial situation was disastrous even before the rejection of the U.S. emergency plan. The Paulson plan for 700 billion dollars is enormous (432,10% of the total U.S. deficit), but it pales in comparison to the mountain of financial paper in circulation, well above 20% of global economic production.
Asian stock markets fall, doubts about recovery in China
Nikkei at minus 2.13; Hong Kong and Shanghai negative. Consumer confidence in the U.S. falls, forecasts for growth in China reduced from 1.7 to 0.3 (April). Yen strengthens, penalizing exports from Japan.
China is in good shape, but must not underestimate the global crisis
The director of China's central bank, Zhou Xiaochuan, illustrates the situation in the country and the possible strategies for addressing it. Beijing is demonstrating caution in anticipation of seeing how significantly the worldwide crisis might strike it, but is confident that it will be able to continue its rapid growth.
12/06/2012 ASIA - EU
Asian markets drop after euphoria over Spain cools and fears for Italy and Greece emerge
Stock markets drop to almost 1%. Lack of commitment on growth. For China aid to Spain contain short-term crisis, but no safeguard to stability. On 17 June, Greece votes for or against the euro.
Asia stock markets plummet amid fears of new global crisis
All markets slide, some loosing up to 5%. A decline or stagnation of U.S. and European economies feared, with a reduction in consumption and exports from Asia. The G-7 promises to "support financial stability and growth." The ECB seems intent on buying Italian and Spanish bonds. The economies of many Asian countries at risk of. China’s criticism.
Pope Francis tells young people that “genuine love” is not a “soap opera”, but Christians’ real identity card
In his homily for the Jubilee of Teens, Pope Francis asked questions and gave answers to the 70,000 present. Stressing the great ideal of love as giving oneself “without being possessive”, he noted that freedom is “being able to choose the good”. He warned young people “who dare not dream,” telling them that “If you do not dream at your age, you are already ready for retirement”. He also received funds raised for the Ukraine, and appealed for the release of bishops and the priests held in Syria.
Odd alliance between the US and Iranian fundamentalists
Washington is still preventing the use of US dollars in transactions with Iranian banks, preventing business with the outside world in spite of the nuclear deal. This way, the US is helping Khamenei and the Revolutionary Guards, who want to torpedo the agreement in order to maintain their hold on power. Meanwhile, most Iranians hold down two or three jobs just to make ends meet. An unstable and bellicose Iran is a boon for arms sales. A report follows.
29/04/2016 NORTH KOREA- USA
AsiaNews IS ALSO A MONTHLY!
AsiaNews monthly magazine (in Italian) is free.