20页
Highlights
Hong Kong. Banks would likely follow the US Fed to cut the prime rate by
50bps; the retail market is likely to remain booming in December (p. 3).
India. There is a high probability of a rate cut; the trade deficit is likely to
remain around US$7bn in December (p. 4).
Indonesia. We expect to see relatively high inflation as prices of most basic
consumer needs, especially food, rose significantly (p. 3).
Korea. We expect slower momentum in production and consumption data,
strong exports and even stronger imports, and inflation rising further (p. 6).
Malaysia. We do not expect any change in the OPR as inflation pressures tie
Bank Negara's hands (p. 8).
Philippines. We expect the MB to cut rates by 50bps, and anticipate 2007
growth of 7% on upbeat domestic demand (ex-inventory) (p. 8).
Singapore. Slower GDP growth in the fourth quarter is unlikely to affect overall
employment (p. 10).
Taiwan. The index of leading indicators probably fell slightly in December
mainly due to poor equity market performance (p. 11).
Thailand. Exports will continue to defy expectations of a downturn; easing oil
prices and strong baht may have capped inflationary expectations (p. 11).