FW: AsianBondsOnline Newsletter (20 November 2017)

To read the full report, data and graphs go to
http://asianbondsonline.adb.org/newsletters/abowdh20171120.pdf?src=newslet
ter&id=uWidK3KdmgXVUWes9IgIcqKp1miwxx

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News Highlights - Week of 13 - 17 November 2017

Malaysia's real gross domestic product (GDP) grew 6.2% year-on-year
(y-o-y) in Q3 2017, up from 5.8% y-o-y in the second quarter (Q2) of 2017.
The expansion was led by the services sector, which grew 6.6% y-o-y and
the manufacturing sector, which grew 7.0% y-o-y. On a quarter-on-quarter
seasonally adjusted basis, Malaysia's GDP posted growth of 1.8% in Q3
2017, up from 1.3% in the preceding quarter. The Philippine economy
expanded 6.9% y-o-y in Q3 2017, the fastest quarterly growth rate in 2017,
but this was lower compared with Q3 2016's growth of 7.1% y-o-y. The
acceleration was due to sustained growth in exports and higher public
spending. Meanwhile, GDP growth in Q2 2017 was revised upward to 6.7%
y-o-y from 6.5% y-o-y. Japan's real GDP growth slowed to 0.3% q-o-q in Q3
2017 from 0.6% q-o-q in Q2 2017.

* In a meeting held on 15-16 November, the Board of Governors of
Bank Indonesia left the 7-day reverse repurchase rate unchanged at 4.25%.
The deposit facility rate (3.50%) and the lending facility rate (5.00%)
were also held steady. At current levels, these rates are deemed adequate
to hold inflation within the target range of 3.0%-5.0% and to keep the
current account deficit at a manageable level.

* Exports from Indonesia rose 18.4% y-o-y in October to USD15.1
billion, following a 15.6% y-o-y expansion a month earlier. Imports
climbed at a faster pace of 23.3% y-o-y to USD14.2 billion after 13.1%
y-o-y growth during the same period. A trade surplus valued at USD895
million was recorded in October. Singapore's non-oil domestic
exports (NODX) rebounded with 20.9% y-o-y growth in October after dipping
1.1% y-o-y in September. The rise was mainly due to the expansion in both
the electronic and non-electronic NODX, as well as the low base effect
from last year. Electronic NODX rose 4.5% y-o-y in October after dipping
8.0% y-o-y in September, while non-electronic NODX grew for the fifth
consecutive month, rising 28.5% y-o-y in October from 1.9% y-o-y in
September.

* The People's Republic of China's industrial production growth rate
fell to 6.2% y-o-y in October from 6.6% y-o-y in September. The decline in
the growth rate was due mainly to a slowdown in the manufacturing sector,
which grew 6.7% y-o-y in October from 8.1% y-o-y in the prior month.

* Foreign investors returned to the Republic of Korea's local
currency bond market in October following 2 consecutive months of net
foreign outflows. Foreign investors bought a net KRW698 billion of listed
bonds, following a net sale of KRW3,732 billion in September.

* Local currency government bond yields in emerging East Asia fell
for most tenors in Hong Kong, China; Indonesia; Malaysia; Philippines and
Singapore. Yields rose for all tenors in the PRC and the Republic of
Korea and for most tenors in Thailand and Viet Nam. As a result, the
2-year versus 10-year yield spreads fell for most markets but rose in the
PRC; Hong Kong, China; Thailand and Viet Nam.

* We are pleased to invite you to attend the release of the November
issue of the Asia Bond Monitor, which will be launched in a conference
co-organized with CIMB ASEAN Research Institute on 24 November in Kuala
Lumpur, Malaysia. For further details, please see invitation
(http://asianbondsonline.adb.org/documents/asia_bond_monitor_launch_invita
tion.pdf).

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AsianBondsOnline is an ASEAN+3 initiative, supported by the Asian
Development Bank and funded by Ministry of Finance Japan, through the
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and initiatives affecting the industry.

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es9IgIcqKp1miwxx

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