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September, 29, 2016

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Business > Asia > Asian Market
ADB expects developing Asia to remain on course
Developing economies in Asia are holding steady and will grow at the earlier forecast rate of 5.7 percent this year and next, buoyed by resilience in the region's two largest economies, China and India, the Asian Development Bank said Tuesday.
 
Singapore court grants reprieve to Hanjin
Singapore's High Court has granted a temporary reprieve to troubled South Korean giant Hanjin, allowing its ships to sail into the city-state without fear of being impounded as it struggles to settle a US$5.37-billion debt.
 
South Korean stocks led most Asian markets lower Friday after the North conducted another nuclear test, while trading was also hit by worries over global central bank policy easing.
 
Vietnam and Thailand strike rice deal with the Philippines
Thailand and Vietnam have won deals to supply a total of 250,000 tons of rice to the Philippines after the two countries reduced their selling prices to suit Manila's budget.
 
Asian markets down in global retreat
Most Asian markets tumbled for a second day Wednesday, extending a global retreat, with Tokyo taking a hit from a strong yen after Japan's economy-boosting stimulus program fell flat with investors.
 
Most Asia markets rose Tuesday but Tokyo sank on a strong yen as traders await central bank meetings in Japan and the United States this week.
 
Asian markets mostly rose Thursday following a fresh Wall Street record as traders are pumped up by strong corporate results and expectations of fresh stimulus.
 
Developing Asian economies to grow 5.6% in 2016: ADB
The Asian Development Bank said Monday it had cut its 2016 growth projection for developing economies in Asia and the Pacific to 5.6 percent, down from its earlier forecast of 5.7 percent, but added that the economies' performance will remain solid and help offset softness from the U.S. economy and near-term market shocks from Britain's vote to exit from the European Union.
 
Asian markets rallied again on Wednesday with investors taking heart from another record close on Wall Street and talk of central bank stimulus, while China released better than expected export figures for June.
 
Asian stocks ended the week with another rally Friday on optimism that central banks globally will step up to support growth in the face of uncertainty caused by Britain's vote to quit the European Union.
 
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