Japan's debt is at about 245% of its annual gross domestic product (more than U$11 trillion). The IMF says Japan needs to strike a balance between growth and debt reduction.
Asian stock markets dropped by a further deterioration in Chinese manufacturing. The Caixin/Markit manufacturing index fell to 48.2 this month.
Asia stocks down as China manufacturing ebbs, Europe gains
Singapore police have started investigations into money laundering on two bank accounts linked to 1MDB in relation to Malaysia's probe into allegations billions of ringgit had been transferred into PM’s personal accounts.
Toshiba's CEO aware the company inflated its profits -- Toshiba had overstated its operating profit by 151.8 billion yen ($1.22 billion). A board overhaul and fines likely.
As of 31 March 2015, Temasek's one-year TSR was 19.20%, three-year TSR was 9.62% and five-year TSR was 6.94%. TSR since the inception 41 years ago was 16%.
Total Shareholder Return
Samsung Group, the country’s most powerful chaebol run by its richest family solidified the power. 69.5 percent of shareholders in favor of Cheil’s all-stock offer, needed a two-third majority to succeed. C&T shares dropped as much as 9.4 percent aft
Samsung's merger vote and anti-Semitism. Samsung "condemn(s) anti-Semitism." Singer: "I don't think the Korean people are anti-Semitic."
China’s Fanya Rare Metals exchange (with over 200,000 clients) in May launched a platform for investment products backed by rare metals, which can yield investors up to 13%. Recently, it experienced trouble giving investors their money back.
In a rare move, Hong Kong’s regulator suspended shares in Hanergy. In May company's shares dropped by almost half wiping $19 billion off the market cap.
The Consumer Finance Protection Bureau said Honda made minorities pay $150 to $250 more on average than white borrowers.
National Bureau of Statistics: “China’s GDP rose 7 percent in the three months through June beating economists’ estimates for 6.8 percent."
Islamic Finance is generally more expensive than conventional banking. Malaysian Takaful (Islamic insurance) companies in 2010 had 50% higher management cost ratio. During the period 2008-2010, Islamic banks in Indonesia charged 50% rates.
Will Islamic finance solve the growth problem for "all mankind"?
Turnover on SGX in 2015 has been 95% lower than in Hong Kong; largely due to the dearth of IPOs. Only three IPOs so far this year.
Things to Watch in China’s GDP Report -- infrastructure investment, property sector, stock frenzy’s impact on the economy, jobs
Under Mr. Xi, the government has urged households to invest in the stock market. A commentary on People’s Daily stated 4,000 point mark (for SCI) was “only the start of the bull market.”
New York Times:
Market Plunge in China Dents Communist Party’s Stature
Samsung transaction is legal in South Korea, but is it fair? South Korea's smaller retail investors have started an unprecedented campaign to stop the deal.
The Costs of Poor Corporate Governance in South Korea
In 2013 China’s government decided to let market forces play a “decisive role” in allocating resources. The recent actions show that they want a decisive role in markets.
China's stockmarket crash: A red flag
Japan is changing the attitude towards failure; in the US and Silicon Valley, risk-takers are respected
"In the 1940s, the then start-ups like Honda, Nikon, Sony and many others helped Japan rise from the ashes of World War II. "
"A comparison of the two eras show that the missing link has been the lack of creative spirit. "
International Finance Magazine:
Japan trying to revive startup eco-system
Sukuk listed in Dubai rose to $36.7 billion overtaking other financial centres in listing Islamic bonds
"The exchange is working on ways to sell sukuk directly to retail investors, expanding the primary market beyond institutional buyers, and designing a sharia-compliant repurchase agreement, he said."
Dubai mounts global sukuk drive as listings top other financial centres
is my attempt to share (via this website as well as twitter) relevant finance stories from Asia that I find interesting (on a daily basis).