New York: 06:09 || London: 11:09 || Mumbai: 14:39 || Singapore: 17:09

Reports Asia

Asian stock market, economy and companies update (December 26, 2013)

December 26, 2013, Thursday, 06:20 GMT | 01:20 EST | 10:50 IST | 13:20 SGT
Contributed by Trade The News

- BOJ Gov Kuroda stated that Japan was not completely out of deflation but on track to achieve 2% price target. He also reiterated the view to continue current policy until price target was achieved. He spoke with PM Abe on both domestic and global economic situations. (**Reminder: On Dec 23rd The Monthly Cabinet report for Japan dropped the deflation term from economic report for the first time since 2009)
- South Korea Fin Min Hyun stated that its economic recovery was strengthening but monetary policy changes in advance nations were a risk. Korea to flexibly allocate bond issuance in 2014 and would make effort to revitalize inflation-linked bonds. He added that 2014 policies target to spread recovery to private sector and that the Govt would soon announce economic policy direction for 2014
- Japan PM Abe visited the Yasukuni Shrine and the Japanese Consulate in Shanghai soonafter issued warning on possible anti-Japanese sentiment; and urged caution to Japanese visiting China (**Note: The shrine is seen by Japan's Asian neighbors as a symbol of its past militarism, as it honors Class-A war criminals along with Japan's war dead. Past visits by prime ministers and Cabinet members have angered China and South Korea)
- Taiwan Foreign Affairs official called on Japan PM Abe to refrain from escalting tensions
- South Korea expressed anger over Abe's visit to Yasukuni Shrine. Cultural Minister Ryong stated that Japan should build trust with its neighbors by facing history and apoligize to countries that suffered under its colonial rule
- China Vice Premier Liu canceled meeting with Japan

**Economic data
- (SG) Singapore Nov Industrial Production M/M: -2.8% v -2.6%e; Y/Y: 4.0% v 5.3%e
- (JP) Japan Nov Annualized Housing Starts: 1.033M v 989Ke; Y/Y: 14.1% v 9.2%e; Construction Orders Y/Y: 2.2% v 61.1% prior
- (JP) Japan Dec Small Business Confidence: 51.1 v 51.1 prior