The pace of contraction in exports from the level a year ago eased at   —19.8%YoY (Jul-09: -22.9%YoY) but the pace of contraction in imports rose to a sharper —18.6%YoY (Jul-09: —16.2%YoY). Signs of a strong recovery are not yet evident. We have previously said that we shall have to wait out Sep-09 before a more [...]

The Asian property sector started slowing down sometime in 2007 and remained weak in 2008 due to the slowdown in the global economy and the cautious state of investors after the crash of the United States housing market.

The meltdown resulted in the collapse of several large banking and financial institutions in the United States and [...]