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Moody's upgrades view of 12 Asia Pacific banking systems
Moody's Investors Service said it changed to stable from negative the industry outlooks for 12 of the banking systems in Asia Pacific, while - at the same time - maintaining negative outlooks for four banking systems.
The systems with stable outlooks are Australia, China, Hong Kong, Indonesia, India, Korea, Malaysia, New Zealand, the Philippines, Singapore, Taiwan, and Thailand, Moody's said. Those with negative outlooks include Cambodia, Japan, Mongolia, and Vietnam, the agency said.
Three factors underpin the generally better outlooks across most of Asia's banking systems, the agency said. Those include improving local economic prospects, stabilizing global conditions and improving access to international debt and money markets, Moody's said.
The third factor is a continued adequate level of resilience to cope with remaining macro- and micro-economic risks, with the banking systems having suffered only limited damage during the past 30 months of the financial crisis, the agency said.
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