Tag Archives: Asia

SE Asia Stocks-Largely down as worldwide growth worries linger

JAKARTA, Dec 10 Most Southeast Asian stock markets traded lower on Thursday as international development concerns persist, with the Malaysian index touching its lowest intraday level in 3 weeks. Malaysia's stock index, down .4 % by midday, is set for a third day of losses, having touched its lowest level because Nov. 16 earlier in the session. "Given the absence of window-dressing, bearish technical momentum and slumping oil costs ought to exert downside pressure on blue chips in the instant term," TA Securitie in Kuala Lumpur wrote in a note on Thursday. Leading the decline in Kuala Lumpur is Malayan Banking Bhd with a .7 % loss, even though shares of plantation firm Sime Darby Bhd eased 1.five percent. Indonesian shares had been down .1 percent, soon after reopening from a industry vacation on Wednesday. Shares in motorbike distributor PT Mitra Pinasthika Mulia Tbk fell two.six %. Indonesia's motorbike sales dropped for a third month in November, an industry association mentioned on Thursday. Bucking the trend, Vietnam posted a mild .02 % achieve. The Thai market place is closed for a public vacation on Thursday and will resume trading on Friday. For Asian Firms click SOUTHEAST ASIAN STOCK MARKETS Alter by 0501 GMT Market Existing Prev Close Pct Move Singapore 2855.76 2861.19 -.19 Kuala Lumpur 1652.59 1659.36 -.41 Bangkok -- 1297.82 -- Jakarta 4459.23 4464.18 -.11 Manila 6824.76 6848.25 -.34 Ho Chi Minh 565.33 565.20 +.02 (Reporting by Fransiska Nangoy Editing by Sunil Nair)

Australia, SE Asia need to ‘re-double’ efforts to keep away from Paris-style attacks

SINGAPORE Australia and Southeast Asia should re-double efforts to share intelligence and make sure Paris-style terror attacks cannot be replicated in the region, Australian Justice Minister Michael Keenan mentioned on Wednesday.

Hundreds of Indonesian Islamic State sympathizers and some Malaysians and Singaporeans are believed to have gone to fight in Syria and Iraq. Southeast Asia faces the threat of attack when they return, Malaysia has mentioned.

“The truth that the national security circumstance has substantially deteriorated for all of the countries in the area, such as Australia, implies we want to re-double those efforts,” Keenan, who is also Minister Assisting the Prime Minister on Counter Terrorism, told Reuters in an interview in Singapore.

Islamic State claimed responsibility for the deaths of 130 individuals in attacks in Paris last month, the deadliest in France considering that Globe War Two.

Keenan also denounced comments by U.S. Republican presidential front-runner Donald Trump who has known as for a ban on Muslims entering the United States following final week’s massacre in San Bernardino, California, by a Muslim couple.

“That is totally the incorrect response,” Keenan said. “When we appear at Southeast Asia, we get a great example that we are not somehow at war with a particular religion. And neither do we want to target Muslim Australians or anyplace else in the globe.”

Australia subsequent week marks the anniversary of a siege in central Sydney in which a gunman with radical Islamist sympathies took more than a central city cafe. Two hostages and the gunman have been killed when police stormed the constructing.

(Reporting by Ryan Woo Extra reporting by Fathin Ungku in SINGAPORE Editing by Nick Macfie)

Agen Sabung Ayam

SE Asia Stocks-Most up Thai SET lags on outflows

BANGKOK, Dec 1 Most Southeast Asian stock markets rose on Tuesday amid mixed fund flows and quick-covering activities, but the Thai benchmark index extended losses for a sixth session due to extensive foreign selling. The Thai SET index ended the day .two percent reduced, taking the fall considering that Nov. 24 to almost three %. Foreign investors sold a net 5.6 billion baht ($  156.42 million) in six successive sessions. Weak worldwide oil prices hit shares of the country's largest oil and gas firm, PTT, whilst retailer CP All , which is among the stocks removed from MSCI's index in a semi annual overview, earlier fell to a far more than three-month low. Indonesia was an outperformer on the day after data released early on Tuesday showed the country's annual inflation price eased substantially in November as the base for comparison was higher due to an oil cost hike a year earlier. The Jakarta composite index jumped 2.5 percent, recouping the losses on Monday. Domestic investors bought shares even though foreign investors sold a net 256 billion rupiah ($  18.58 million), Thomson Reuters data showed. Stocks in the Philippines gained almost 2 %, while Malaysia ended a three-session losing streak. The Philippines and Malaysia saw net foreign purchasing of 609 million peso ($  12.92 million) and 126 million ringgit ($  29.79 million), respectively, stock exchange information showed. Singapore rebounded .5 %, although Vietnam posted a fourth straight loss, with most blue chips losing ground following the country's downbeat Getting Managers' Index (PMI). For Asian Organizations click SOUTHEAST ASIAN STOCK MARKETS Adjust on day Market Present Prev Close Pct Move Singapore 2870.26 2855.94 +.50 Kuala Lumpur 1682.37 1672.16 +.61 Bangkok 1357.01 1359.70 -.20 Jakarta 4557.67 4446.46 +2.50 Manila 7060.60 6927.07 +1.93 Ho Chi Minh 570.41 573.20 -.49 Modify on year Industry Present Finish 2014 Pct Move Singapore 2870.26 3365.15 -14.71 Kuala Lumpur 1682.37 1761.25 -4.48 Bangkok 1357.01 1497.67 -9.39 Jakarta 4557.67 5226.95 -12.80 Manila 7060.60 7230.57 -two.35 Ho Chi Minh 570.41 545.63 +4.54 ($  1 = 35.8000 baht) ($  1 = 13,780.0000 rupiah) ($  1 = four.2300 ringgit) ($  1 = 47.1370 Philippine pesos) (Reporting by Viparat Jantraprap Editing by Subhranshu Sahu)

Southeast Asia Creates Unified Financial Neighborhood

KUALA LUMPUR, Malaysia — Thirteen years following the idea was mooted, Southeast Asian leaders on Sunday formally produced a unified financial community in a region far more populous and diverse than the European Union or North America, and with hopes of competing with China and India.

The ten leaders in the Association of Southeast Asian Nations signed a declaration during their summit establishing the ASEAN Financial Community.

The neighborhood, recognized by its acronym AEC, is currently a reality and numerous of its fundamentals have been applied in the area such as removal of tariff barriers and visa restrictions among other folks. It has also led to greater political and cultural cooperation.

AEC will bolster revenue and employment, and give the region with stronger financial muscle in facing the other giants, mentioned Michael G. Plummer, a professor of international economics at the Europe Center of Johns Hopkins University, primarily based in Bologna, Italy.

But there is a long way to go before the AEC becomes totally functional following becoming a legal entity on Dec. 31.

“The AEC is arguably the most ambitious financial integration program in the building globe. But implementation of the AEC is increasingly uphill. Much remains to be carried out and the region faces many challenges in finishing. The AEC is a approach,” Plummer stated.

It falls brief in more politically sensitive places such as opening up agriculture, steel, auto production and other protected sectors. ASEAN citizens will be allowed to operate in other countries in the region, but will be restricted to jobs in eight sectors, including engineering, accountancy and tourism. This accounts for only 1.5 % of the total jobs in the area, and host nations nevertheless can place up constitutional regulatory hurdles restricting the inflow of talent.

Intra-regional trade has remained at around 24 percent of ASEAN’s total worldwide trade for the last decade, far lower than 60 % in the European Union.

ASEAN members also struggles to resolve diplomatic flare-ups amongst each other such as border disputes amongst Cambodia and Vietnam, or Indonesia’s inability to fight annual forest fires that spew noxious haze for months over Malaysia, Singapore and Thailand.

ASEAN has 630 million individuals who are governed by numerous systems, including rambunctious democracy, military dictatorship, quasi-civilian, authoritarian, monarchy and communism.

Plummer mentioned progress has been slow in in services liberalization. Cross-border flow of investment is also restricted by large exclusion lists and caps on foreign ownership. Government procurement and curbing monopolies by state-owned enterprises are very sensitive and untouched, he said.

Despite the fact that the four poorer economies — Cambodia, Laos, Myanmar and Vietnam — have until 2018 to bring down tariffs, financial integration could additional reinforce earnings equalities in the region, he said.

AEC “is not the completed write-up. Neither is it officially claimed to be. There is considerably operate to be completed,” said Mohamad Munir Abdul Majid, chairman of a council that advises ASEAN on organization matters. “There is a disparity among what is officially recorded as possessing been accomplished … and what the private sector reports as their knowledge.”

There are also other hurdles, such as corruption, uneven infrastructure and unequal costs of transportation and shipping. A wide financial gulf divides Southeast Asia’s rich and middle revenue economies — Malaysia, Indonesia, Singapore, Brunei, Thailand and the Philippines — and its 4 less created members, Communist Vietnam and Laos, Myanmar and Cambodia.

The AEC was envisaged in 2002 — and a blueprint developed in 2007 — to face competitors from China and India for market place share and investments. Even though China’s financial growth is anticipated to slow to an average of six percent annually over the subsequent five years, India’s expansion is most likely to pick up to 7.3 percent in the identical period, according to the Organization of Economic Cooperation and Development.

The AEC is a single of the 3 pillars of the ASEAN Neighborhood, which was produced by the signing of the declaration Sunday. The other two pillars are political-security and socio-cultural.