Most Asian markets sank Tuesday as further weakness in China’s economy fueled worries about the effects on global growth, overshadowing optimism that the United States is winning its battle against inflation and could avoid a recession. | AFP
“You’re gonna see some stimulus coming in, which means that the second quarter may have been more of the low, the third quarter a bit better,” Joyce Chang, global head of research at JPMorgan, said on Bloomberg Television.
Shanghai, Sydney, Seoul, Singapore, Wellington and Taipei also dropped, though Tokyo, Manila and Jakarta edged higher.In a report on China, Alicia Garcia Herrero and Jianwei Xu at Natixis CIB said in a report: “We are conservative about the extent of the policy support down the road. Fiscal policies may not be easily implemented in the current situation, given the already high public debt and the reduced efficiency of these policies.
“Many countries do depend on strong Chinese growth to promote growth in their own economies, particularly countries in Asia, and slow growth in China can have some negative spillovers for the United States,” she said in a Bloomberg Television interview.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China issues highest alert for mountain torrentsBEIJING, China -- China's Ministry of Water Resources and the China Meteorological Administration on Monday issued the maximum red alert for mountain torrents in south China.
Read more »
China-ASEAN forum held to enhance cooperation on sustainable developmentThe 2023 China-ASEAN International Forum on Innovation and Cooperation for Sustainable Development concluded Saturday in the tourist city of Guilin, south China's Guangxi Zhuang Autonomous Region. | ManilaBulletin
Read more »
Obiena wins gold, resets Asian Athletics Championships recordFilipino pole vaulting ace Ernest John 'EJ' Obiena proved once more that he stands head and shoulders above the competition in Asia after defending his Asian Athletics Championships title at the Suphachalasai National Stadium in Bangkok, Thailand on Sunday, July 16.
Read more »
EJ Obiena wins gold at Asian Athletics ChampionshipsBANGKOK — Ernest John Obiena capped an exceptional Philippine campaign at the 25th Asian Athletics Championships with a prophesied triumph in men’s pole vault on Sunday night. The world’s third-ranked vaulter... CDNDigital
Read more »
Bacolod-based Tchoukball team off to Singapore for Southeast Asian tournamentTchoukball athletes from Bacolod City will represent the country in the Southeast Asia Tchoukball Championship 2023 in Singapore from July 17 to 18. | ManilaBulletin READ:
Read more »
Oil firms to implement big-time price hike TuesdayOil companies will impose a steep price increase on Tuesday, July 18, 2023.
Read more »