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  • Article / 01 August 2017 at 7:01 GMT

    Morning Markets: Upbeat China manufacturing data spreads cheer

    Consulting editor / TradingFloor
    Norway
    Morning Markets: Upbeat China manufacturing data spreads cheer
    A higher Caixin manufacturing PMI for July spread cheer in Asian markets on Tuesday. Stocks rose in Japan and China and jumped in Hong Kong. Meanwhile, manufacturing is contracting in most of Southeast Asia, as shown by a Nikkei ASEAN manufacturing PMI reading below 50. The Reserve Bank of Australia kept rates on hold for an 11th consecutive month, as expected.
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  • Editor’s Picks / 22 September 2016 at 22:26 GMT

    President Duterte shrugs off S&P view, ready to turn to China, Russia

    The Phillipine Star
    I don’t care. This was President Duterte’s reaction to S&P’s assessment that predictability in policymaking diminished under his administration. S&P affirmed on Wednesday the Philippines’ long-term credit rating of ‘BBB’ and short-term credit rating of ‘A-2,’ with a stable outlook. While the rating is a notch above investment grade, the credit watchdog said the stability and predictability of policymaking in the country has “diminished somewhat” in light of Duterte’s policy pronouncements on foreign policy and national security. Duterte shrugged off the assessment, saying the Philippines is formulating “a new foreign policy”. “Go away. We'll start on our own. I can go to China, Russia. They are waiting for me”, the president said on Thursday. “Wala akong pakialam sa inyo (I don’t care about you),” he added.
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  • Editor’s Picks / 29 July 2016 at 0:33 GMT

    India, ASEAN gain appeal as wary Japanese firms turn away from China

    Nikkei Asian Review
    Japanese companies no longer see China as a top destination for investment, and are turning to India and ASEAN for growth, according to a joint survey by Nikkei Inc and the Center for Strategic and International Studies. A combination of China's slower growth and aggressive national security policies has dented the Japanese appetite to invest in the world's most populous nation. Since its accession to the WTO in 2001, China has been the top desitnation Japanese foreign direct investment in Asia, except for 2013, when Thailand briefly overtook it. However, when asked which emerging economy their company would invest in today, 50% said India and 38% said ASEAN, while only 4% of respondents named China.
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  • Editor’s Picks / 25 July 2016 at 5:35 GMT

    Beijing's apparent push to divide ASEAN bears fruit

    Nikkei Asian Review
    Southeast Asian foreign ministers failed to issue a communique after a meeting amid conflict over how to respond to a tribunal's denial of Chinese claims in the South China Sea, with their inaction indicating that Beijing's strategy of sowing division is bearing fruit. A draft statement urged absolute respect for the law regarding the resolution of the South China Sea dispute – a clear shot across China's bow. Nearly all ASEAN countries agreed to this version including not only the Philippines and Vietnam, but also Indonesia, Singapore and Malaysia. But Cambodia demanded that all language critical of China be stricken from the statement. This threw the talks into disarray. Beijing seems to be using Cambodia to drive a wedge into the alliance.
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  • Editor’s Picks / 23 May 2016 at 1:16 GMT

    US role in Asia can no longer be taken for granted

    The Straits Times
    Much of what motivates Americans to vote for Trump and Sanders stems from domestic issues. At first glance, the bombastic tycoon and the rumpled social activist have little in common, but on foreign policy, both point in the same direction. Both have refused to court foreign policy elites. But more deeply, both clearly offer an image of America as a much less engaged global player. Both reject the Washington foreign policy playbook. Hillary Clinton has a far better chance than either of these men of ending up in the White House. But she will now know, after this year's primaries, that the America she might lead will be much less willing to follow her into foreign adventures.
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  • Editor’s Picks / 12 May 2016 at 23:17 GMT

    Beijing's pressure over South China Sea could break ASEAN

    The Straits Times
    With the Permanent Court of Arbitration expected to deliver its ruling on the Philippines-China dispute over maritime jurisdiction in the South China Sea as early as next month, China has embarked on a diplomatic offensive to rally support to downplay the court's decision. China's efforts to court support are viewed negatively as an effort to pile pressure on ASEAN to distance itself from the PCA ruling. If China persists to press its considerable political and economic levers on Laos – and other ASEAN states – to stymie internal ASEAN discussions on the South China Sea, Beijing would effectively break ASEAN. A divided and weakened ASEAN will be of little strategic value to China as it could just as easily succumb to pressures from other major powers.
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  • Editor’s Picks / 11 May 2016 at 1:50 GMT

    Jakarta hopes for investment-grade rating after upbeat S&P comments

    The Jakarta Post
    S&P, the only global rating agency yet to release an update on Indonesia’s sovereign rating, says the country's economy is “fairly good” while its trading partners are under pressure. S&P gives a BB+ rating for Indonesia, slightly below investment grade, with a positive outlook. The agency’s team is arrying out an assessment to update Indonesia’s rating. “It is too early to speculate on the upcoming rating, but the numbers related to the risk look relatively good. The government’s fiscal position remains sound; the external position is in relatively good shape. The downside risk is mainly the external trading partner growth, but the economic environment is fairly good for Indonesia,” said S&P director of sovereign Asia-Pacific Ex. Japan, Kyran Curry.
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  • Editor’s Picks / 28 April 2016 at 22:42 GMT

    China, Russia boost defence ties to contain US, their mutual foe

    South China Morning Post
    China and Russia will increase military exercises to strengthen security and defence cooperation amid growing tensions in the ­disputed South China Sea. Russian Defence Minister ­Sergey Shoigu unveiled the plan at a meeting with his visiting ­Chinese counterpart Chang ­Wanquan. Shoigu said the two nations would conduct both ground and naval exercises. The strengthened defence ties between the two nations are widely believed to be aimed at countering the growing US military presence in the Asia-Pacific. Chang lashed out at double standards in the global anti-terror efforts – an apparent reference to Beijing’s displeasure with the US-led coalition that has refused to back its crackdown on Uygur militants or Islamic State-linked fighters in Xinjiang.
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  • Editor’s Picks / 12 April 2016 at 5:02 GMT

    Move over China, here come the VIP emerging nations

    Nikkei Asian Review
    Brisk domestic demand and low dependence on China have made the so-called VIPs – Vietnam, India and the Philippines – standouts among emerging markets, with investors looking to them as defensive picks in a decelerating global economy. In India, by far the largest of the trio, hopes are high for earnings growth in the automotive and motorcycle industries. Vietnam's benchmark VN Index, India's BSE Sensex index and the Philippines' PSEi composite index advanced nearly 20% on average over the past three years. The term “new VIPs” was coined by ANZ chief Asia-Pacific economist Glenn Maguire. Strong internal demand differentiates the three countries from other emerging markets weakened by sluggish trade, Maguire stressed.
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