The Chinese Premier Li Keqiang told the World Economic Forum (WEF) in Dalian that there was no basis for further devaluation of the Chinese yuan. He said the country did not want to stimulate exports through devaluation.
Premier Li added that China will hit all its economic targets this year. That means the Chinese economy, which grew 7% in the first quarter and 7% in the second quarter, could grow at 7% for the full year. When will we learn? If China says it will grow at 7%, it will grow at 7%.
Small and medium-sized businesses in Singapore are not feeling confident about their future. A recent survey revealed a drop in sentiment to a three-year low of 51.9. Every sector is expecting a decline in both turnover and profits in the last three months of 2015.
Analysts have suddenly turned bullish on Singapore Real Estate Investment Trusts (S-REITs). It was that long ago when they were bearish on the popular dividend stock. Amongst the REITs that are on their radar include CapitaLand Commercial Trust (SGX: C61U) and Mapletree Logistics Trust (SGX: M44U). Since the start of the year, the price of REITs has fallen by more than 10%, prompted by bearish comments from analysts. No surprises there!
It has been a topsy-turvy week for stock markets around the world. Japan’s Nikkei 225 recorded its biggest one-day gain since 2008. The monstrous 7% jump in the benchmark index was prompted by hopes that Japan could introduce more policies to spur growth in the world’s third-largest economy.
And finally, McDonald’s said it will stop using eggs from chickens that are raised in cages. McDonald’s reportedly buys around 2 billion eggs a year in the US. The initiative only applies to American chickens.
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