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The level of confidence of Japanese companies in the processing industry to the country's economy dropped in the second quarter to its lowest level since the third quarter of 2016. According to the Bank of Japan, the Japanese Tankan index was 7 points, down from 12 points recorded in January-June. According to economists, it was not expected to fall so sharply - only to 9 points. The share of survey participants who do not consider the business environment favorable has exceeded the percentage of those who think otherwise. The decline in the index was caused by concerns about the possible negative impact on the Japanese economy of the consequences of the intensified trade dispute between the United States and China. The indicator determining the expectations of large companies for the next 3 months was at the level of 7 points, having dropped from 8 points. According to the respondents, their profit in this fiscal year will decrease by 8.1%. Despite this, the companies intend to increase capital investment by 7.4% over the year.
Indonesia on Wednesday rolled out a 100 trillion Rupiah ($6.92 billion) loan guarantee scheme for prioritized businesses to keep them afloat as the COVID-19 situation continued to worsen around the world, the country’s finance minister ...
The second quarter likely saw South Korea’s economy hitting its sharpest downturn in over two decades, a Reuters survey showed on Tuesday. This was mainly from the pandemic dragging the labor market, consumer spending, and global export ...
Asian share markets were seen upbeat on Tuesday. This was mainly from investors’ high-risk appetite backed by hopes for a coronavirus vaccine and the possibility of a deal by European Union leaders to save their ailing economies. MSCI’s ...
The Bank of Thailand chief on Monday said that it could take several years for the country’s foreign tourism industry to recover as the economy continues to take a beating from the COVID-19 pandemic. The central bank expects foreign ...
Asian share markets advanced on Wednesday as growing hopes about a coronavirus vaccine supported risk appetite. Meanwhile, the euro reached its four-month peak backed by the prospect of stimulus ahead of a crucial EU meeting. MSCI’s ...
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