China’s slowdown may deepen as policy makers unwind the excesses of a record credit boom while only gradually increasing stimulus, leaving 2012 growth at the weakest in 13 years, Pacific Investment Management Co. says.
“The economy is unlikely to bottom until the third quarter,” Ramin Toloui, Pimco’s global co-head of emerging markets portfolio management in Singapore, said in e-mailed comments May 13. “Policy makers will progressively turn the dial toward more stimulus, but not in the aggressive manner of 2009,” restrained by the goal of tempering the credit-fueled property market, he said.
Muscat bourse drops on dull trading
Barring a special deal of 9.75 per cent of Phoenix Power worth OMR17.8 million, it was dull trading activity on the Muscat bourse and the MSM 30 Index closed at 5,748.61 points, down 0.33 per cent. T