Philippine’s stock benchmark entered a bull market, as the country’s central bank signaled an imminent end to its monetary tightening cycle and the outlook for corporate earnings brightens as China reopens its borders. The peso also strengthened along with most Asian currencies as traders eased off hawkish bets for the Federal Reserve.
The head of the International Monetary Fund urged China to move forward with reopening its economy, calling the nation’s transition from a Covid Zero policy to more normal functioning likely the single most important factor for global growth in 2023.
President Joe Biden will discuss cooperation on limiting China’s access to semiconductor technology in back-to-back visits to Washington by leaders of Japan and the Netherlands in the coming days.
Ethiopian eurobonds rallied after dissident Tigrayan fighters this week agreed to hand over heavy weapons, firming up a peace deal that may bring an end to the country’s civil war, and after China agreed to cancel some of its bilateral debt.
The UK economy may avoid tumbling into recession until later this year as consumers kept spending through the worst cost-of-living squeeze in memory.
Digital-asset exchange Crypto.com is reducing its global workforce by about 20%, the latest retrenchment in the sector following a collapse in virtual-coin prices.
China’s trade deficit with Russia reached a record $38 billion last year as global energy prices surged following the outbreak of war in Ukraine.
The Philippines plans to offer peso bonds for retail investors next month, according to people familiar with the matter, potentially raising the equivalent of billions of dollars for state infrastructure and social projects.
A lowly-rated Indian corporate is set to sell rupee bonds next week, an oddity in the market dominated by state-owned issuers and companies with high ratings.
Crypto companies are once again tightening their belts, as the bear market enters the second year and the industry suffers from major meltdowns that damage its outlook.
