UPDATE 1-Egypt's Amer paints positive image of currency float
* Amer predicts 30 percent fall in imports bill (Recasts with second tranche of World Bank loan, adds details from interview, quotes, background)
SINGAPORE, Dec 13 (IFR) - Low year-end liquidity, ahead of tonight's start of the Federal Reserve's policy meeting, meant there were no sharp moves in Asian credits.
Bad news for individual credits did not move prices, as investors held firm ahead of a probable rate hike in the US.
Even last Friday's vote to proceed with the impeachment of Korean President Park Geun-Hye had little adverse impact on bonds there.
The Republic of Korea's 5-year CDS actually tightened 6bp over the past week, and was seen at 40bp today. Hyundai Motor's 5-year CDS moved in 5bp to 92bp in the past week and that of Korea Development Bank tightened 4bp to 45bp.
The Asia ex-Japan iTraxx investment-grade CDS index was 1bp tighter today at 119bp/121bp.
S&P cut its rating of Wanda Commercial Properties HK's senior notes to BB from BB+, citing rising leverage at its parent company. The downgrade failed to move its bonds, with the 2024s flat at a cash price of 107.7 to yield 5.9%.
Olam International's perpetual bonds callable in 2021 were a quarter of a point higher today at 96.6 to yield 6.2%, even after environmental group Mighty accused the company of clearing forest land in Gabon to plant palm oil trees.
Olam said most of the land it had cleared in Gabon was already "degraded".
The Single B segment was in focus, as Shandong Ruyi Technology marketed 3-year bonds, with expected ratings of B3/B- (Moody's/S&P), at 8.375% area.
Another B3 rated Chinese offshore issue, a December 2018 note from Hydoo International, was quoted at a yield of 12%.
(Reporting by Daniel Stanton; editing by Dharsan Singh)
WASHINGTON, Feb 24 Five U.S. financial services groups on Friday appealed a federal court decision handed down earlier this month that upheld an Obama-era rule designed to avoid conflicts of interests when brokers give retirement advice.
* General Electric - due to anticipated tax benefits and gains, co does not expect total after-tax charges through completion of ge capital exit plan to exceed initial $23 billion estimate