Moody revised 8 China Banks to NEGATIVE and DOWNGRADE China's credit rating

[mGx-Alander]

Moody's Investors Service has revised the outlook for eight Chinese banks from stable to negative, following a similar downgrade to China's government credit ratings. The four major Chinese lenders affected include Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, and China Construction Bank Corporation.

Moody's cited the potential decline in the central government's credit quality as the primary reason for the downgrade, aligning with its negative outlook for China's government credit ratings. The move reflects concerns about China's rising debt levels and their impact on GDP growth, emphasizing the challenges related to policy effectiveness and economic rebalancing. Additionally, Moody's downgraded the outlook for 22 Chinese local government financing vehicles, attributing the change to increased risks associated with lower medium-term economic growth and strains from the ongoing property sector crisis. The ratings agency also lowered Hong Kong's outlook to negative, citing close political, institutional, economic, and financial linkages with mainland China.

https://www.cnbc.com/2023/12/07/moodys-outlook-cut-china-banks-hong-kong-local-govt-financing-vehicles.html

It is so bad that Taiwan TAIEX have overtaken Hang Seng Index


The Financial War from US is coming, a double whammy to the already screwed up property market

Discuss~

[mGx-Alander]

FDI are also pulling out of Hong Kong, 1 of the tech consultancy firms I know, CapGemini moved its APAC HQ from HK to SG

https://www.straitstimes.com/asia/east-asia/more-global-firms-quietly-shifting-out-of-hong-kong-as-city-tries-to-lure-them-back



But does all these FDI coming in SG help Singaporeans by creating jobs?

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i heard capgemini many FTs

[mGx-Alander]

Ask u talk about investments in tiong market u derail into .. no wonder kena bend hammet

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whr got......... kena ban is xi yi wei chang, nth in my life ever smooth anyway

[mGx-Alander]

Look, i am trying to help u create topig in this sub forum, and make it sort of like SSI in HWZ by starting one, u derail it by playing the race card. do u want your site to turn into another edmw in all of ur sub forums? zzz

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whr got place race card? u suddenly so angry u also got say those things before...

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anyway now everyone seems to be pulling out capital from china and HK

more to pour into other markets like India? actually i find those in our region might be more worth considering... like philippines

only problem is lots of natural disasters

[mGx-Alander]

whr got place race card? u suddenly so angry u also got say those things before...

i say in edmw rubbish forum, NOT in SSI serious sub sections