Exports Analysts: Korean Economy and Fitch Ratings

exports analysts: Business investment declined in the country amid frail private consumption and weak exports, according to Market Watch. Analysts said that without brisk housing construction — made possible by cheap bank loans and easier mortgage rules supported by financial authorities — Korean growth would have slowed further. South Korea gross domestic product grew 2.7% year-on-year in the third quarter, down from a 3.3% gain in the prior three-month period, according to preliminary data from the Bank of Korea. Low productivity is prevalent, in particular in the services sector and among small and medium-sized enterprises, Fitch Ratings said in a report about the South Korean economy. Beijing on Tuesday set the onshore yuan against the greenback at 6.7744, down 0.08% from Monday, to a fresh six-year low. Korea Kospi SEU, +0.51% was down 0.8%. Both the Hang Seng Index HSI, -1.02% and the Shanghai Composite SHCOMP, -0.13% were down about 0.2%. Chinese stocks slipped Tuesday, as a yuan decline offset gains by resource stocks. (news.financializer.com). As reported in the news.