The Star Online: Business
The Star Online: Business |
- Japan export growth remains tepid, dims outlook
- Diary Malaysia 2014 corporate earnings
- Diary Malaysia May 21 (Wednesday)
| Japan export growth remains tepid, dims outlook Posted: 20 May 2014 07:06 PM PDT TOKYO: Japan's exports rose for the 14th straight month in April but shipments to the US slowed, underlining concerns that the world's third largest economy remains vulnerable to any fall in external demand. Ministry of Finance data released on Wednesday showed exports rose 5.1% in the year to April, compared with a 4.8% gain seen by economists and a 1.8% rise in March. On a seasonally adjusted basis, exports rose a meagre 0.6% in April from the previous month. With export growth below last year's levels as the effect of a weak yen wears off, policymakers are becoming less confident of a lasting export upturn that would cushion a dip in domestic spending after Japan raised its sales tax to 8% from 5% on April 1. Analysts say the Bank of Japan may act if the trade performance falls short – a side effect of many firms moving production facilities offshore to escape years of the yen's strength. "Exports picked up just a tad from March but they still lack momentum. US-bound shipments were unexpectedly poor," said Takeshi Minami, chief economist at Norinchukin Research Institute in Tokyo. Shipments to the US – a key market for Japanese products – rose 1.9% on an annual basis. That represented a slowdown from a 3.6% gain in March, with steel shipments falling in April. "I expect the US economy to drive the global economy this year but if that scenario fails, that could raise the chance of fresh BoJ stimulus, although the bank is focusing more on prices," said Minami. The Bank of Japan is expected to keep its monetary policy unchanged when it announces its decisions later in the day, likely sounding upbeat on the economy in a sign that no additional monetary stimulus is on the horizon. The central bank is expected to take heart from surprisingly strong first quarter capital investment and buoyant machinery orders for March, which some economists took as a sign companies are optimistic that overseas sales will eventually pick up. WEAK YEN EFFECTS FADE Japan's exports had grown at double-digit pace in the second half of last year, but growth has slowed to below 10% this year as effects of a weak yen wear off. Prime Minister Shinzo Abe's aggressive stimulus policies weakened the yen by some 20 percent annually since he took power in late 2012, boosting exporters' profits and share prices. But the yen's slide slowed this year to about 6% year-on-year in April, limiting gains in the value of exports. More worryingly, the yen's fall failed to shore up export volumes, which peaked in 2007 and have been falling for a third straight year in 2013. Export volumes edged up 2% in April from a year before – the first gain in two months – illustrating the plight of the export sector as a weak yen has boosted import costs more than export income, the data showed. Imports have surged in part due to a spike in demand for oil and gas after nuclear power plants were shut down following 2011's Fukushima crisis. Recently imports got a further boost from Japanese shoppers' rush to beat the tax hike. Reflecting a pullback in demand after the tax hike, imports grew an annual 3.4% in the year to April, slowing sharply from a 18.1% increase in March, the MOF data showed. That brought the trade deficit to 808.9 billion yen (US$7.98bil), versus a shortfall of 646 billion yen expected, narrowing from a 1.45 trillion yen gap in March. Still, it marked a record 22nd straight month of deficits. Economists had long anticipated a so-called "J-curve" effect, where a spike in import costs would over time be more than offset by gains in exports. However, that effect has yet to emerge, partly because firms have shifted production overseas after years of yen strength. The yen's retreat failed to reverse the trend due to the desire to move facilities closer to fast-growing markets. The trend mirrors both the declining share of "Made in Japan" products, such as electronic goods, in firms' overseas sales, and their reluctance to risk trade tensions by using the yen's weakness to cut prices and boost market share, analysts say. External demand shaved 0.3 percentage points off gross domestic product in January-March, yet the economy grew the most in more than two years on the strength of private consumption and capital spending ahead of the April 1 sales tax hike. – Reuters |
| Diary Malaysia 2014 corporate earnings Posted: 20 May 2014 06:52 PM PDT KUALA LUMUR: Following is a list of release dates for the quarterly earnings of some top Malaysia-listed companies. All dates are confirmed except those marked by a "T", which (T): Tentative TBD: To be determined |
| Diary Malaysia May 21 (Wednesday) Posted: 20 May 2014 06:49 PM PDT KUALA LUMPUR: ALL TIMES ARE PROVISIONAL AND IN LOCAL TIME FOLLOWED BY GMT IN BRACKETS WEDNESDAY, MAY 21 KUALA LUMPUR - Release of CPI Data as of Apr 2014 at 1700pm(0900 GMT). KUALA LUMPUR - Bank Negara Governor Zeti Akhtar Aziz delivers keynote address at The Asian Banker Summit 2014, Plenary Hall 1, Level 1, Kuala Lumpur Convention Centre, Kuala Lumpur at 8.30 am (0030 GMT). KUALA LUMPUR - SME Corp Malaysia Branding Seminar 2014, Dewan Mahkota, SME Corp Malaysia, Blok B, KL Sentral, Kuala Lumpur at 9.00 am (0100 GMT). KUALA LUMPUR - Domestic Trade, Co-operatives and Consumerism Deputy Minister Ahmad Badshah Md Hanipah witnesses Malaysian Franchise Association's Mock Cheque presentation, Gloria Jeans@Nexus, Bangsar South City, Jalan Kerinchi, Kuala Lumpur at 10.00 am (0200 GMT). KUALA LUMPUR - Intel Malaysia and Singapore Country Manager (Sales and Marketing), Prakash Mallya holds press conference on PC Refresh Campaign, Thirdwave, Unit 1-11, Level 1, Nexus, Bangsar South, Kuala Lumpur at 10.30 am (0230 GMT). KUALA LUMPUR - Media briefing on World Competitiveness Yearbook 2014, Majlis Room, Level 2, Blok Inovasi, Perbadanan Produktiviti Malaysia, Lorong Produktiviti Off Jalan Sultan, Petaling Jaya at 11.00 am (0300 GMT). KUALA LUMPUR - Puteri Umno chief Mas Ermieyati Samsudin launches Bayahista Bazaar 2014 at Encorp Strand Mall, Kota Damansara at 2 pm (0600 GMT). PUTRAJAYA - Natural Resources and Environment Minister G.Palanivel receives two giant Pandas from China at Animal Hotel, MASKargo Complex, KL International Airport, Sepang at 5.30am (0930 GMT). PUTRAJAYA - Press conference by the Health Ministry to present mock cheque to the Malaysian Aids Council at Bilik Gerakan, Level 4, Block E7, Health Ministry at noon (0400 GMT). THURSDAY, MAY 22 KUALA LUMPUR- Release of Bank Negara's International Bank Reserves as at 15 May 2014 at 1700pm(0900 GMT) FRIDAY, MAY 30 KUALA LUMPUR- Release of Money Supply Data May 2014 at 1700pm(0900 GMT) FRIDAY, MAY 30 KUALA LUMPUR- Release of Detailed Disclosure of International Reserves as at end April 2014 at 1200pm (0400 GMT) FRIDAY, JUN 06 KUALA LUMPUR- Release of Bank Negara's International Bank Reserves as at 30 May 2014 at 1700pm(0900 GMT) FRIDAY, JUN 06 KUALA LUMPUR - Release of External Trade Data as at Apr 2014 at 1201pm (0401 GMT) SATURDAY, JUN 07 KUALA LUMPUR- Market and Public Holiday- His Majesty's Birthday WEDNESDAY, JUN 11 KUALA LUMPUR- Release of Index of Industrial Production Data as of Apr 2014 at 1201pm (0401). WEDNESDAY, JUN 18 KUALA LUMPUR- Release of CPI Data as of May 2014 at 1700pm(0900 GMT) FRIDAY, JUN 20 KUALA LUMPUR- Release of Bank Negara's International Bank Reserves as at 13 Jun 2014 at 1700pm(0900 GMT) MONDAY, JUN 30 KUALA LUMPUR- Release of Money Supply Data June 2014 at 1700pm(0900 GMT) MONDAY, JUN 30 KUALA LUMPUR- Release of Detailed Disclosure of International Reserves as at end May 2014 at 1200pm (0400 GMT) FRIDAY, JUL 04 KUALA LUMPUR- Release of External Trade Data as at May 2014 at 1201pm (0401 GMT) MONDAY, JUL 7, KUALA LUMPUR- Release of Bank Negara's International Bank Reserves as at 30 Jun 2014 at 1700pm(0900 GMT) THURSDAY, JUL 10 KUALA LUMPUR- Release of Index of Industrial Production Data as of May 2014 at 1201pm (0401). THRUSDAY, JUL 10 KUALA LUMPUR- Release of Interest Rates Decision(Overnight Policy Rates) at 18:00pm(1000 GMT) TUESDAY, JUL 15, KUALA LUMPUR- Market and Public Holiday- Nuzul Al-Quran WEDNESDAY, JUL 16 KUALA LUMPUR- Release of CPI Data as of Jun 2014 at 1700pm(0900 GMT) TUESDAY, JUL 22, KUALA LUMPUR- Release of Bank Negara's International Bank Reserves as at 15 Jul 2014 at 1700pm(0900 GMT) MONDAY, JUL 28, KUALA LUMPUR- Market and Public Holiday-Aidil Fitri TUESDAY, JUL 29, KUALA LUMPUR- Market and Public Holiday-Aidil Fitri THURSDAY, JUL 31, KUALA LUMPUR- Release of Money Supply Data July 2014 at 1700pm(0900 GMT) THURSDAY, JUL 31, KUALA LUMPUR- Release of Detailed Disclosure of International Reserves as at end June 2014 1200pm (0400 GMT) WEDNESDAY, AUG 06 KUALA LUMPUR- Release of External Trade Data as at Jun 2014 at 1201pm (0401 GMT) THURSDAY, AUG 7' KUALA LUMPUR- Release of Bank Negara's International Bank Reserves as at 31 Jul 2014 at 1700pm(0900 GMT) MONDAY, AUG 11 KUALA LUMPUR- Release of Index of Industrial Production Data as of Jun 2014 at 1201pm (0401). WEDNESDAY, AUG 20 KUALA LUMPUR- Release of CPI Data as of Jul 2014 at 1700pm(0900 GMT) FRIDAY, AUG 22, KUALA LUMPUR- Release of Bank Negara's International Bank Reserves as at 15 Aug 2014 at 1700pm(0900 GMT) FRIDAY, AUG 29, KUALA LUMPUR- Release of Detailed Disclosure of International Reserves as at end July 2014 at 1200pm (0400 GMT) FRIDAY, AUG 29, KUALA LUMPUR- Release of 2nd Quarter 2014 GDP (Not Later Than) at 1800pm (1000 GMT) FRIDAY, AUG 29, KUALA LUMPUR- Release of Money Supply Data August 2014 at 1700pm(0900 GMT) SUNDAY, AUG 31, KUALA LUMPUR- Market and Public Holiday- National Day FRIDAY, SEP 5 KUALA LUMPUR- Release of External Trade Data as at Jul 2014 at 1201pm (0401 GMT) MONDAY, SEP 8, KUALA LUMPUR- Release of Bank Negara's International Bank Reserves as at 29 Aug 2014 at 1700pm(0900 GMT) THURSDAY, SEP 11 KUALA LUMPUR- Release of Index of Industrial Production Data as of Jul 2014 at 1201pm (0401). TUESDAY, SEP 16, KUALA LUMPUR- Market and Public Holiday- Malaysia Day WEDNESDAY, SEP 17 KUALA LUMPUR- Release of CPI Data as of Aug 2014 at 1700pm(0900 GMT) THURSDAY, SEP 18 KUALA LUMPUR- Release of Interest Rates Decision(Overnight Policy Rates) at 18:00pm(1000 GMT) TUESDAY, SEP 23, KUALA LUMPUR- Release of Bank Negara's International Bank Reserves as at 15 Sep 2014 at 1700pm(0900 GMT) TUESDAY, SEP 30, KUALA LUMPUR- Release of Money Supply Data September 2014 at 1700pm(0900 GMT) TUESDAY, SEP 30, KUALA LUMPUR- Release of Detailed Disclosure of International Reserves as at end August 2014 at 1200pm (0400 GMT) TUESDAY, OCT 07 KUALA LUMPUR- Release of External Trade Data as at Aug 2014 at 1201pm (0401 GMT) WEDNESDAY, OCT 8, KUALA LUMPUR- Release of Bank Negara's International Bank Reserves as at 30 Sep 2014 at 1700pm(0900 GMT) FRIDAY, OCT 10 KUALA LUMPUR- Release of Index of Industrial Production Data as of Aug 2014 at 1201pm (0401). WEDNESDAY, OCT 22, KUALA LUMPUR- Release of Bank Negara's International Bank Reserves as at 15 Oct 2014 at 1700pm(0900 GMT) WEDNESDAY, OCT 22, KUALA LUMPUR- Release of CPI Data as of Sept 2014 at 1700pm(0900 GMT) THURSDAY, OCT 23, KUALA LUMPUR- Market and Public Holiday- Deepavali SATURDAY, OCT 25, KUALA LUMPUR- Market and Public Holiday- Islamic New Year 1436H FRIDAY, OCT 31, KUALA LUMPUR- Release of Detailed Disclosure of International Reserves as at end September 2014 at 1200pm (0400 GMT) FRIDAY, OCT 31, KUALA LUMPUR- Release of Money Supply Data October 2014 at 1700pm(0900 GMT) THURSDAY, NOV 6, KUALA LUMPUR- Release of Interest Rates Decision(Overnight Policy Rates) at 18:00pm(1000 GMT) FRIDAY, NOV 7, KUALA LUMPUR- Release of Bank Negara's International Bank Reserves as at 31 Oct 2014 at 1700pm(0900 GMT) FRIDAY, NOV 7, KUALA LUMPUR- Release of External Trade Data as at Sept 2014 at 1201pm (0401 GMT) TUESDAY, NOV 11, KUALA LUMPUR- Release of Index of Industrial Production Data as of Sept 2014 at 1201pm (0401). WEDNESDAY, NOV 19, KUALA LUMPUR- Release of CPI Data as of Oct 2014 at 1700pm(0900 GMT) FRIDAY, NOV 21, KUALA LUMPUR- Release of Bank Negara's International Bank Reserves as at 14 Nov 2014 at 1700pm(0900 GMT) FRIDAY, NOV 28, KUALA LUMPUR- Release of 3rd Quarter 2014 GDP (Not Later Than) at 1800pm (1000 GMT) FRIDAY, NOV 28, KUALA LUMPUR- Release of Detailed Disclosure of International Reserves as at end October 2014 at 1200pm (0400 GMT) FRIDAY, NOV 28, KUALA LUMPUR- Release of Money Supply Data November 2014 at 1700pm(0900 GMT) FRIDAY, DEC 5, KUALA LUMPUR- Release of Bank Negara's International Bank Reserves as at 28 Nov 2014 at 1700pm(0900 GMT) FRIDAY, DEC 5, KUALA LUMPUR- Release of External Trade Data as at Oct 2014 at 1201pm (0401 GMT) THURSDAY, DEC 11 KUALA LUMPUR- Release of Index of Industrial Production Data as of Sept 2014 at 1201pm (0401). WEDNESDAY, DEC 17 KUALA LUMPUR- Release of CPI Data as of Nov 2014 at 1700pm(0900 GMT) MONDAY, DEC 22, KUALA LUMPUR- Release of Bank Negara's International Bank Reserves as at 15 Dec 2014 at 1700pm(0900 GMT) THURSDAY, DEC 25, KUALA LUMPUR- Market and Public Holiday- Christmas Day WEDNESDAY, DEC 31, KUALA LUMPUR- Release of Money Supply Data December 2014 at 1700pm(0900 GMT) WEDNESDAY, DEC 31, KUALA LUMPUR- Release of Detailed Disclosure of International Reserves as at end November 2014 at 1200pm (0400 GMT) NOTE: The inclusion of diary items does not necessarily mean that Reuters will file a story based on the event.- Reuters |
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