November 26, 2020
01 Top Story China cracks down on errant issuers
02 Asia Markets
Nikkei 225 rises 0.9% to 26,537.31; Hang Seng Index climbs 0.6% to 26,819.45; CSI300 adds 0.2% to 3,369.73.33
03 China bank wound up
Baoshang Bank has become the first commercial Chinese lender to be declared bankrupt, after regulators took it over saying it posed too great a credit risk to investors and customers. The bank has been cloaked in scandal surrounding billionaire Xiao Jianhua’s Tomorrow Group.
04 ATF Big Picture App bans add to Sino-Indian woes
Another 43 Chinese apps are added to India’s sanctions list against its giant neighbour and major trading partner. Efforts to delink from China’s economy is adding fuel to tensions that began with renewal of clashes over a disputed border.
05 ATF TV Apple in India
Analysts say outlays by three major manufacturers are likely to rev up sales of its popular handsets once iPhones start being made at sites around the country, although many will be exported as well. ATF Chief India Writer Indrajit Basu speaks to ATF TV.
06 Green insurance
Insurers say they are playing a vital – if quiet – part in helping the Asia-Pacific region reduce its carbon footprint be cutting their ties to polluters and big emitters of greenhouse gases.
07 TikTok slows clock
The Trump administration has relented again and given tech giant ByteDance another seven days to sell its stake in the TikTok social media app, which the outgoing president has declared a national security risk.
08 Comment
"Debt sustainability issues will depend on long term nominal growth and interest rate prospects. Moreover, the government deficit stemming from slower fiscal revenue growth and the increased pension spending amid population ageing are also likely to push up China’s public debt. Thus, we expect China’s debt-to-GDP to continue to pile up, which means that China will join one more league table, namely that of the high indebted countries."
Alicia Garcia Herrero, Chief Economist, Asia Pacific, Natixis
