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Hong Kong-Singapore Travel Bubble Postponed for a Second Time
The bubble was initially slated to begin in November last year but was called off after a rise in cases in Hong Kong. Under the plan, travelers would have to test negative for COVID-19 before departure and on arrival to move freely between the cities.
Thailand Cuts GDP Outlook As COVID-19 Cases Slow Recovery
The government downgraded its 2021 economic growth forecast to 1.5%-2.5% as the outbreaks crimped domestic activity amid Thailand's slow vaccine rollout as it was preparing to reopen more broadly to foreign visitors.
China’s Factory Output Slows As Bottlenecks Crimp Production
While China's exporters are enjoying strong demand, global supply chain bottlenecks and rising raw materials costs have weighed on production, cooling the blistering economic recovery from last year's COVID-19 slump.
Taiwan Stocks Swoon on COVID-19 Fears Despite Reassurance Efforts
The government has repeatedly tried to reassure people that the economy remains strong and there is no undue cause for alarm, even amid volatility and sharp falls in the stock market.
With the COVID-19 pandemic weighing on domestic consumption, there is uncertainty about whether companies would pass on higher costs to households and help the central bank achieve its elusive 2% inflation target, analysts say.
Asia Shares Cautious Ahead of China Data Test
Industrial output and retail sales are forecast to show hefty annual gains given activity in April last year was badly marred by pandemic lockdowns. Exports remain strong as the developed world reopens, while stimulus at home should support retail spending.
Philippines Cuts Rice Tariffs To Ensure Food Security, Fight Inflation
The Southeast Asian nation, which is battling elevated inflation, took into consideration the increase in global rice prices and uncertainties in local rice supply, the president's office said in a statement.