Forex / Asia news

SINGAPORE (Thomson Financial) - It may take one to two years for Singapore to conclude a free trade agreement (FTA) with China based on its experience in negotiating with other countries, Deputy Prime Minister Wong Kan Seng said.Wong's press secretary on Thursday clarified a report in the Straits Times quoting the deputy premier as saying that Singapore can expect to conclude an FTA with China next year...

LONDON (Thomson Financial) - The euro continued to post fresh all-time highs against the dollar, supported by an unexpected upward revision to first quarter GDP growth and robust industrial production figures.First quarter euro zone GDP was revised up to show a 0...

BEIJING (XFN-ASIA) - China will continue to monitor export receipts for fake transactions intended to disguise the entry of speculative funds, the State Administration of Foreign Exchange (SAFE) said.In a statement posted on its website, SAFE said that as of end-April it has classified 5,775 companies to be "of concern" and whose foreign exchange dealings are under specific surveillance...

MANILA (Thomson Financial) - The Philippine central bank has cut banks' overnight borrowing rate to 6.0 percent from 7.50 percent previously and the overnight lending rate to 8.0 percent from 9.75, while deciding to "maintain a neutral monetary policy stance" during its policy meeting today...

LONDON (Thomson Financial) - The euro climbed to a fresh all-time high against the dollar after a hawkish European Central Bank monthly bulletin, amid ongoing concern about the US sub-prime mortgage market.The ECB said it is monitoring inflation risks closely and remains ready to raise interest rates further if necessary...

TOKYO (Thomson Financial) - Bank of Japan (BoJ) governor Toshihiko Fukui gave no new hints Thursday about when the monetary authority might hike its key interest rates as he reiterated that the bank will gradually adjust rates taking into account downside risks and the upside potential for the economy...

WASHINGTON (XFN-ASIA) - The United States said it is considering forging a bilateral investment agreement with Taiwan but ruled out a free trade pact in the immediate future.The two sides raised the possibility of an investment accord during annual talks under a Trade and Investment Framework Agreement, which usually precedes a free trade pact...

TOKYO (Thomson Financial) - Japanese government bond prices closed mostly lower Thursday on position-adjustment after their rises yesterday, while investors waited for remarks the governor of the Bank of Japan was due to deliver after its policy board kept interest rates unchanged...

SEOUL (Thomson Financial) - The Bank of Korea on Thursday raised its benchmark call rate target by 25 basis points to a six-year high of 4.75 percent, the first increase in nearly a year, in a bid to mop up excess liquidity which it fears could feed on inflation...

TOKYO (Thomson Financial) - The Bank of Japan has left its economic assessment unchanged in July, saying the world's second-largest economy is expanding moderately and will continue to do so as deflationary pressures ease."Japan's economy is expanding moderately," the BoJ said in its latest monthly report, repeating what it said in June...

TOKYO (Thomson Financial) - The Bank of Japan kept its overnight call rate target unchanged at 0.5 percent for the sixth straight meeting, but a stray vote by a member of the nine-man board suggested a rate hike may be imminent.The central bank said Atsushi Mizuno voted against the proposal by governor Toshihiko Fukui to leave the overnight call rate at the current level...

TOKYO (Thomson Financial) - Beleaguered Japanese Prime Minister Shinzo Abe said Thursday a defeat for his coalition would set back reforms as he launched his campaign for elections on July 29 to the upper house of parliament here.The conservative leader began his campaign in the streets of the Akihabara electronics district here...

BEIJING (XFN-ASIA) - China is likely to tolerate above-forecast levels of monetary growth, apparently accepting that the strong economy will lead to some of its economic targets being surpassed, Deutsche Bank said.The People's Bank of China (PBoC) said M2 growth was 17...

SYDNEY (Thomson Financial) - The US dollar strengthened against the yen after the Bank of Japan on Thursday kept its overnight call rate target unchanged at 0.5 percent for the sixth straight meeting, as widely expected by the market.At 2.17 pm (0417 GMT) in Sydney, the dollar was trading at 122...

TOKYO (Thomson Financial) - Industrial output in May fell a seasonally adjusted 0.3 pct from April, according to revised data issued by the Ministry of Economy, Trade and Industry.The ministry's initial estimate was that industrial output had declined by 0...

JAKARTA (Thomson Financial) - Indonesia's consumption of cement in the first half was 7.5 percent higher than a year before at 15.6 million tons, the size of the increase being due in part to the low base of comparison a year earlier, Indonesian Cement Association chairman Urip Timuryono said Thursday...

MANILA (Thomson Financial) - The Philippine government's outstanding debt dropped by 0.8 percent from the previous month to 3.9 trillion pesos at the end of April following loan repayments and the appreciation of the peso and other currencies against the US dollar, the Bureau of Treasury said on Thursday...

BEIJING (XFN-ASIA) - The People's Bank of China said it drained 45 bln yuan from the banking system via the sale of three-year bonds and three-month bank bills in today's open market operations.The bank said in a statement published on its website that the yield for the 1...

SINGAPORE (Thomson Financial) - Oil prices were higher in late morning Singapore trade Thursday as the market continued to fret over US gasoline (petrol) reserves, dealers said.At 10:39 am (0239 GMT), New York's main oil futures contract, light sweet crude for August delivery, was eight cents higher at 72...

BEIJING (XFN-ASIA) - China's June actual foreign direct investment (FDI) totaled 6.63 bln usd, rose 21.91 pct year-on-year, the Ministry of Commerce said.Actual FDI in May was 4.899 bln usd, up 8.65 pct year-on-year.The ministry said that actual FDI in the first six months of the year totaled 31...