China’s long-term bonds are rallying for the first time in four months as a pickup in the economy gives new leaders scope to shun stimulus in favor of policies that will result in slower and more sustainable growth.
China may expand exporters’ tax rebates to help them cope with a slump in trade growth, according to three people with direct knowledge of the plan, deploying a stimulus tool used during the global credit crunch.
Tenaga Nasional Bhd., Malaysia’s biggest power producer, will report its second-quarter earnings for the financial year ended Aug. 31. Chief Executive Officer Che Khalib Mohamad Noh and Chairman Leo Moggie will attend a press conference at 4:30 p.m. according to an invitation by the company.
China’s central government will raise its funding allocation for affordable housing by 18 billion yuan ($2.8 billion), Premier Wen Jiabao said at a State Council meeting yesterday. The government will also push ahead with interest rate liberalization and price reform of power and refined oil products, he said.