Malaysia: Big jump in FDI in 2010
Foreign direct investment (FDI) inflows into Malaysia totaled USD7bn (RM21.4bn) in 2010, compared with USD1.4bn in 2009, reflecting increasing investor confidence in Malaysia. This was an impressive growth of 409.7%, the highest recorded in the region as well as among the 153 economies surveyed by the United Nations Conference on Trade and Development (UNCTAD) in its Global And Regional FDI Trends 2010. (StarBiz)
Taiwan: Export orders increase more than estimated
Taiwan’s export orders increased more than estimated, signaling overseas shipments are poised to weather the appreciation in the local dollar and support the island’s economic recovery. Orders, an indication of shipments in the next one to three months, rose 15.27% from a year earlier, after a 14.34% climb in November, the Ministry of Economic Affairs said. The median estimate of 15 economists in a Bloomberg News survey was for a gain of 12.3%. (Bloomberg)
South Korea: Jump in S. Korean inflation expected
South Korea’s central bank expects consumer inflation in January to accelerate from December’s reading of 3.5%, but has no immediate plan to revise upwards its annual target, an official said. The Bank of Korea has forecast consumer inflation to accelerate to 3.7% in the 1H 2011 and to average 3.5% for the year, versus last year’s actual print of 2.9%. (StarBiz)
China: 2010 growth hits blistering 10.3%
China said that its economy grew 10.3% in 2010, marking the fastest annual pace since the onset of the global crisis, but concerns about persistent inflation sent Asian markets tumbling. The data has fuelled expectations for a stronger currency, a change that Washington has pressed for during President Hu Jintao's high-profile US visit as China pulls on a variety of levers to rein in consumer prices. (BT)
US: Home sales, leading index show gains
Sales of previously owned US homes and the index of leading indicators exceeded forecasts, signs the expansion is gaining momentum at the start of 2011. Purchases of existing houses jumped 12% in December to a USD5.28m annual rate, the National Association of Realtors said in Washington. The New York-based Conference Board’s gauge of the economic outlook for the next three to six months rose 1%. Claims for unemployment benefits fell by 37,000 last week, according to the Labor Department. (Bloomberg)
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