Posts Tagged ‘Asia Finance’

Asia’s Financial System: ANZ

March 25th, 2014

ANZ recently released a new report called ‘Caged Tiger: The Transformation of the Asian Financial System’. The report predicts that Asia’s financial system has the potential to surpass those of both the United States and Europe combined by 2030.

Mike Smith, CEO of ANZ, stated that China will require a financial revolution to compliment the economic revolution that the nation has undergone in recent years.

According to ANZ’s report, around half of Asia’s financial assets will be attributed to China by 2050. Meanwhile, Asian bond markets are projected to expand to six times their current size over the next decade and a half.

Smith said:

“Continued progress in financial reform, deregulation and opening up to global markets in Asia will be essential to support high levels of economic growth in the region.

“China is central to this Asian Century scenario. The direction and sequencing of reform envisaged following the Third Plenum will significantly influence the direction and growth of its financial system.”

According to Smith, this will create countless opportunities throughout the region.

“Asia’s financial institutions will become increasingly important in global finance and Asia will become home to many of the world’s largest financial centers. Shanghai will grow to rival New York as a financial center. Singapore will increase its importance as a south-east Asian hub.”

Dollar Rises in Asia After Federal Reserve Announcement

July 18th, 2013

US Federal Reserve Chief Ben Bernanke recently announced that the bank’s easy money policy will remain as is until further notice. The dollar rose in Asia as a result.

According to, the dollar “changed hands at 99.74 yen in the morning, up from 99.60 yen in New York on Wednesday, while the euro fetched $1.3111 and 130.77 yen, against $1.3125 and 130.73 yen.”

On Wednesday, Bernanke explained that the central bank intends to reduce its stimulus program only after seeing continues economic improvement.

“I emphasize that, because our asset purchases depend on economic and financial developments, they are by no means on a preset course,” he said, adding that the economy is in fact growing at a moderate pace with signs of additional strength in a number of sectors.

SMBC Nikko Securities’ Hiroichi Nishi said: “Bernanke’s words were nothing new, but did have a calming effect for those still harboring jitters about a near-term end of the U.S. easing policy.”