Glenn Maguire , chief Asia economist at Societe Generale SA in Hong Kong, comments on odds of a one- off revaluation in the yuan. He was speaking in a Bloomberg Television interview.
Chinese officials are likely to “tolerate” banks breaching the nation’s 7.5 trillion yuan ($1.1 trillion) loan target for 2010 to sustain growth as the economy cools, Societe Generale SA says.
China’s pledge to make the yuan more flexible may boost shares denominated in the currency when markets open tomorrow, China International Capital Corp. and Societe Generale SA said.
Chinese manufacturing data due in four days could jolt global markets by showing the first contraction in 17 months, according to analysts at Societe Generale SA and Westpac Banking Corp.
Indonesia’s central bank held its key interest rate for a sixth straight meeting and said it will keep a tight monetary policy stance, seeking to contain a widening current-account gap.
China’s stocks rose for the first time in three days, led by developers and steelmakers, as the nation’s slowing economy fuelled speculation the government will ease lending curbs and delay raising interest rates.
"We are skeptical of the strong growth print as most economic indicators are pointing to weaker growth data compared to their expansion over the same period last year."
- Glenn Maguire on Oct 14, 2014