ING ups Asian GDP projections

ING ups Asian GDP projections

SINGAPORE: Asian economies are poised to accelerate this year
at their fastest pace since the 1997 regional financial crisis
thanks to higher exports and improved domestic spending, an arm
of Dutch financial group ING said Monday.

ING Financial Markets said in a report that it was upgrading
its 2004 growth projections for Hong Kong, Malaysia, the
Philippines, Singapore and Taiwan while maintaining its forecasts
for China and Indonesia.

South Korea and Thailand were the only exceptions where growth
targets were lowered, ING said.

ING maintained China's 2004 growth forecast at 9.5 percent and
Indonesia at 4.5 percent. -- AFP