The Week In Numbers: How To Lose A Trillion Yuan

How does a company lose track of 1 trillion yuan? Well, you will have to ask Citic Securities, one of China’s largest brokerages to for the answer. According to the Securities Association of China, Citic had overstated some of its financial transactions from April to September. But according to the hapless broker, the 1-trillion-yuan error occurred due to a system upgrade, which has since been corrected. Didn’t anyone think to ask?

Some of the world’s best known credit-rating agencies failed to anticipate the Eurozone crisis, when it was plain for the world to see that something was going badly awry. But one of the ratings agencies, Fitch Ratings, believes that it knows for sure that the risks for Singapore’s Real Estate Investment Trusts will rise in 2016. Even a broken watch is right twice a day.

Consumer prices have fallen for 12 successive months in Singapore. But economists are adamant that the economy is not in the grips of deflation. Instead, they claim that Singapore’s inflation rate has been negative, largely because of falling car prices and housing rentals as well as lower cost of petrol and electricity tariffs. It is not because of weakness in aggregate spending, they insist. Don’t you just love economists?

Singapore stocks may have been on the back foot for the year but there is something for income investors to celebrate. According to Singapore Exchange, the Straits Times Index (SGX: ^STI) offers Asia’s highest dividend yield at 4.2%. The STI stocks with the highest yield include Hutchison Port Holdings (SGX: NS8U), Keppel Corporation (SGX: BN4) and Sembcorp Marine (SGX: S51). Kerching!

And finally, if China says its economy will grow at 7% this year then it will jolly well grow at 7%, come rain or shine. Chinese Premier Li Keqiang said this week that China is on target to reach its economic growth target of 7%. Who said economic forecasting was hard?

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore Director David Kuo doesn’t own shares in any companies mentioned.