Trade finance demand seen weakening for S'pore banks
Gap between onshore and offshore yuan borrowing rates set to narrow further: JPMorgan senior analyst
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Singapore
TRADE finance is likely to weaken for Singapore banks next year amid weakening numbers out of China, and as the gap between onshore and offshore yuan borrowing rates is set to trim further, a senior analyst said on Wednesday.
"Trade finance demand is going down, and will go down," said Harsh Wardhan Modi, an analyst at JPMorgan, in a telephone interview, noting that the borrowing gap should narrow. "If I am a businessman in China, I would rather finance my requirements onshore than offshore."
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