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    Thesun 2009-07-17 Page13 Chinas Economy Grows 7

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    - China's economy grew 7.9% in Q2 2009, rebounding strongly from the global economic crisis and boosting confidence. - The growth was driven by a US$580 billion stimulus package and exceeded the government's target. However, challenges remain from potential bubbles in real estate and other sectors. - While exports dropped 21.4% in June, the strong domestic growth suggests China is leading the global economic recovery.

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    Thesun 2009-07-17 Page13 Chinas Economy Grows 7

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    20 views1 page
    - China's economy grew 7.9% in Q2 2009, rebounding strongly from the global economic crisis and boosting confidence. - The growth was driven by a US$580 billion stimulus package and exceeded the government's target. However, challenges remain from potential bubbles in real estate and other sectors. - While exports dropped 21.4% in June, the strong domestic growth suggests China is leading the global economic recovery.

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    - China's economy grew 7.9% in Q2 2009, rebounding strongly from the global economic crisis and boosting confidence. - The growth was driven by a US$580 billion stimulus package and exceeded the government's target. However, challenges remain from potential bubbles in real estate and other sectors. - While exports dropped 21.4% in June, the strong domestic growth suggests China is leading the global economic recovery.

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    Download as PDF, TXT or read online from Scribd
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    20 views1 page

    Thesun 2009-07-17 Page13 Chinas Economy Grows 7

    Uploaded by

    Impulsive collector
    - China's economy grew 7.9% in Q2 2009, rebounding strongly from the global economic crisis and boosting confidence. - The growth was driven by a US$580 billion stimulus package and exceeded the government's target. However, challenges remain from potential bubbles in real estate and other sectors. - While exports dropped 21.4% in June, the strong domestic growth suggests China is leading the global economic recovery.

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    of 1

    theSun | FRIDAY JULY 17 2009 13

    business KLCI
    STI
    1,108.88
    2,401.02
    11.64
    11.60
    Nikkei
    TSEC
    9,344.16
    6,780.30
    74.91
    41.70
    Hang Seng 18,361.87 103.21 KOSPI 1,432.22 11.36
    SCI 3,183.74 4.81 S&P/ASX200 3,995.60 71.10

    KL market summary
    JULY 16, 2009
    INDICES CHANGE Shares end firmer on positive sentiment
    FBMEMAS 7,483.69 + 75.58
    SHARE prices on Bursa Malaysia ended Industrial Index went up 26.29 points to
    FBM-KLCI 1,108.88 + 11.64
    INDUSTRIAL: 2,423.31 + 26.29 firmer yesterday with the key index up 1.06%, 2,423.31 and the Plantation Index advanced
    CONSUMER PRODUCT 328.10 + 3.83 spurred on by the strong performance of 23.14 points to 5,379.88.
    INDUSTRIAL PRODUCT 86.04 + 0.26 major regional bourses and a better-than- The FBMEmas Index gained 75.58 points
    CONSTRUCTION 212.80 + 3.49 expected Chinese economy. to 7,483.69, the FBM Top 100 firmed up
    TRADING SERVICES 147.91 + 1.84 The benchmark FTSE Bursa Malaysia KLCI 80.98 points to 7,280.29 and the FBM2BRD
    FINANCE 9,012.62 + 69.87 went up 11.64 points to close at 1,108.88 Index increased 40.72 points to 4,855.14.
    PROPERTIES 719.44 + 6.37
    PLANTATIONS 5,379.88 + 23.14
    after trading at an intra-day high of 1,120.41. The FBMMesdaq Index, was however, down
    MINING 295.86 + 20.26 It had opened unchanged at 1,097.24. The 46.25 points at 4,030.12. Advancers led
    FBMSHA 7,706.66 + 96.94 market saw heavy trading interest in lower decliners by 398 to 304 while 229 counters EXCHANGE RATES July 16, 2009
    FBM2BRD 4,855.14 + 40.72 liners and penny stocks which pushed the were unchanged, 326 untraded and 57 others
    TECHNOLOGY 15.49 + 0.12 day’s volume above 1.0 billion units. However, suspended. Overall trading volume stood at Foreign currency Bank sell Bank buy Bank buy
    overall gains were limited as investors were 1.666 billion shares worth RM2.139 billion, up TT/OD TT OD
    TURNOVER VALUE
    seen locking in some profits. The Finance from the 1.365 billion shares worth RM2.139
    1.666bil RM2.138bil Index climbed 69.87 points to 9,012.62, the billion on Wednesday. – Bernama 1 US DOLLAR 3.5930 3.5280 3.5180
    1 AUSTRALIAN DOLLAR 2.9180 2.7900 2.7740
    1 BRUNEI DOLLAR 2.4830 2.4220 2.4140
    1 CANADIAN DOLLAR 3.2240 3.1450 3.1330

    China’s economy grows


    1 EURO 5.0740 4.9510 4.9310
    1 NEW ZEALAND DOLLAR 2.3600 2.2560 2.2400
    1 PAPUA N GUINEA KINA 1.4900 1.2420 1.2260
    So 1 SINGAPORE DOLLAR 2.4825 2.4220 2.4140
    1 STERLING POUND 5.9140 5.7720 5.7520
    gloriously
    1 SWISS FRANC 3.3460 3.2650 3.2500
    bad

    7.9% in stunning rebound


    100 ARAB EMIRATES DIRHAM 99.5700 94.3100 94.1100
    pg 16 100 BANGLADESH TAKA 5.3400 5.2100 5.0100
    100 CHINESE RENMINBI N/A N/A N/A
    100 DANISH KRONE 70.1700 64.4800 64.2800
    100 HONGKONG DOLLAR 47.1900 44.7000 44.5000
    100 INDIAN RUPEE 7.6800 7.0600 6.8600
    BEIJING: China’s economy Analysts said the rebound November last year. government’s target. 100 INDONESIAN RUPIAH 0.0371 0.0314 0.0264
    grew 7.9% in the second quarter in China would offer a boost Li described the impact of The figure is generally seen 100 JAPANESE YEN 3.8200 3.7270 3.7170
    of 2009, the government said yes- of confidence for the global the package as “remarkable”, as the minimum growth needed 100 NEW TAIWAN DOLLAR N/A N/A N/A
    terday, in a stunning turnaround economy as it struggles out of but he also warned pitfalls lay to create enough jobs and pre- 100 NORWEGIAN KRONE 58.0300 53.2700 53.0700
    for the Asian powerhouse that the worst economic crisis since ahead amid concerns of bub- vent major social unrest in the 100 PAKISTAN RUPEE 4.4900 4.1800 3.9800
    offered some hope for the rest of the Great Depression of the bles in real estate and other key nation of 1.3 billion people. 100 PHILIPPINE PESO 7.6600 7.2000 7.0000
    the world. 1930s. sectors. China’s exports dropped
    With help from US$580 “China is the first big country “There are many difficulties 100 QATAR RIYAL 100.2400 95.3500 95.1500
    21.4% year-on-year in June, the
    billion (RM2.08 trillion) in to have made a strong comeback, and challenges existing in the government said last week, the 100 SAUDI RIYAL 97.3100 92.5700 92.3700
    government pump priming, the so its rebound will definitely current national economic per- eighth straight monthly decline. 100 SOUTH AFRICAN RAND 45.6800 42.0300 41.8300
    world’s third biggest economy offer a stabilising signal for the formance. The base for recovery However, industrial output, 100 SRI LANKA RUPEE 3.2600 2.9900 2.7900
    picked up pace again after the world economy,” said He Jun, is still weak. The momentum for which illustrates activity in the 100 SWEDISH KRONA 47.9600 43.5400 43.3400
    global economic crisis dragged a Beijing-based analyst with the picking up is unstable,” he said. nation’s millions of factories and 100 THAI BAHT 11.3200 9.6000 9.2000
    growth down to 6.1% in the first Anbound Consulting research Economists also warned that workshops, expanded by 9.1% Source: Malayan Banking Berhad/Bernama
    quarter. group. China’s rebound was unbal- in the second quarter of 2009
    “The economy is rebounding However, He and other ana- anced, with the export sector from a year earlier, the bureau Singapore central bank reports
    and the strength of the recovery lysts cautioned that immediate still struggling while massive said.
    is increasing,” National Bureau and direct benefits would be bank lending had fuelled the In June, industrial output RM22.7bil net loss
    Spokesman Li Xiaochao said at limited to countries that import potential for asset price bubbles increased by 10.7%, and by 7% SINGAPORE:The central bank said yesterday it suffered
    a media briefing to release the heavily into China, chiefly and inflation. for the first half of 2009. a net loss of S$9.2 billion (RM22.7 billion) in the fiscal
    data. resource-rich exporters and “Although private sector in- China’s urban fixed asset year ending March as its investments were hit by the
    China’s gross domestic prod- neighbouring nations in Asia. vestment has picked up, growth investments, a measure of global financial crisis. The figure compared with a profit
    uct grew by 7.1% in the first half Before the global economic still relies heavily on the central government spending on infra- of US$7.44 billion (RM26.7 billion) in the previous financial
    of 2009 compared with the same crisis struck, China experienced government’s expansionary structure, rose 33.6% in the first year and US$3.85 billion (RM13.8 billion) in the year before
    period a year earlier, according double-digit annual growth from policies,” said Lu Zhengwei, a half of 2009 compared with the that, the Monetary Authority of Singapore (MAS) said. It
    to the bureau. 2003 to 2007, and again for the Shanghai-based economist with same period a year earlier, the also represents about 3.5% of the central bank’s average
    This put China back on track first two quarters of last year. the Industrial Bank. statistics bureau said. total assets, MAS said.
    to achieve its goal of 8% growth To fight the downturn, the Nevertheless, Lu and other Investments in urban fixed MAS managing director Heng Swee Keat told reporters
    for the year, despite the financial government began implement- analysts said China’s economy assets increased by 35.3% in the global meltdown “has weighed heavily on financial
    crisis hitting its crucial export ing a four-trillion-yuan (RM2.08 would likely grow by around 8% June year-on-year, according to markets worldwide, leading to severe declines in the
    sector particularly hard. trillion) stimulus package from growth in 2009, in line with the the bureau. – AFP valuation across many asset classes.” – AFP

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