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The U.S. dollar is expected to remain resilient despite possible Fed rate cuts this year. Asian currencies could be on the "back foot" this year despite signals that the U.S. Federal Reserve could cut interest rates soon, according to Julia Wang, executive director and global market strategist at JPMorgan Private Bank. Emerging market currencies often stand to gain when the Fed cuts interest rates and the U.S. dollar weakens. "The dollar probably could remain somewhat resilient," Wang told CNBC's Squawk Box Asia on Wednesday. However, Supaat, pointed out that Asian currencies did rally last year when there where expectations that the Fed was going to cut rates.
Persons: Julia Wang, Wang, CNBC's, Saktiandi Supaat, it's, Supaat Organizations: U.S, U.S . Federal, JPMorgan Private Bank, U.S ., Asia Locations: U.S, China
Liu Liqun | Corbis Documentary | Getty ImagesChina may want a "new leap forward" in "productive forces" — but President Xi Jinping may need to resort to an old tactic to hit the country's ambitious growth target this year, one economist warns. While scant on specifics, the work report appears to suggest Beijing is refraining from the aggressive, bazooka-like stimulus that some markets observers were expecting. China has historically resorted to infrastructure building as a short-term fix to boost growth, particularly after the 2008-09 financial crisis. Goldman Sachs economists said that this pledge is the "most important positive surprise" from this year's government work report. Chinese Premier Li Qiang delivers a speech during the opening of the second session of the 14th National People's Congress at The Great Hall of People on March 5, 2024 in Beijing, China.
Persons: Liu Liqun, Xi Jinping, Wang Dan, Wang, Erica Tan, Goldman Sachs, Li Qiang, Li, Lintao Zhang Organizations: Bund, Getty, Hang Seng Bank, CNBC, China Investment Corporation, Maybank, Seng Bank, National People's Congress, of People Locations: China, Beijing, overcapacity, Covid, Gorges
CNN —Singapore is drawing fans from all over Southeast Asia and beyond to Taylor Swift’s Eras Tour, much to the annoyance of the city-state’s regional neighbors. “[Our] agencies negotiated an arrangement with her to come to Singapore and perform and to make Singapore her only stop in Southeast Asia,” Lee said at a press conference in Melbourne while on a state visit to Australia. I don’t see that as being unfriendly.”“If we had not made such an arrangement, would she have come to more places in Southeast Asia? Southeast Asia fans dig deep to see SwiftThe Eras Tour is a multi-continent extravaganza that surged to become the highest-grossing tour of all time – and Swift is making Singapore a lot of money. I never really spent big like six-digit (Philippine peso) amounts for someone else, just Taylor Swift,” Suizo said.
Persons: Taylor, Swift, Joey Salceda, Lee Hsien Loong, , ” Lee, Edward Tong, , Srettha Thavisin, Taylor Swift, hasn’t, Edmund Ong, Yun Liu, Errol De Asis, Gilliane, Christel Kaye Kuan, Yedda Mendoza, ” Suizo, it’s, Granada, That’s Organizations: CNN, Southeast, Singapore –, , Singapore, Coldplay, World Bank Locations: Singapore, Southeast Asia, Melbourne, Australia, Bangkok, Thailand, Philippines, Asia, Maybank, ASEAN, Gilliane Granada, China, Granada
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarkets want to see a 'one-round' Indonesia election, says Maybank Sekuritas IndonesiaWilianto Ie, president director of Maybank Sekuritas Indonesia, says markets will react positively to a one-round election, but the focus will then shift to the make-up of the Cabinet.
Persons: Maybank, Ie Organizations: Markets Locations: Indonesia
In this zodiac cycle, those born between Feb.10, 2024 and Jan. 28, 2025 will be classified as "Dragon babies." While people in China also hold these beliefs, birth rates in the country have actually fallen during the "Dragon Years." For instance, Singapore's birth rates rose by 21% in 1988, and 8% in 2000 and 2012. Asian folklore, however, may not be able to do much for China's falling birth rates, which could continue to drop "quite precipitously," Tay warned. China's birth rates have seen a secular decline, falling to 6.39% in 2023 from 22.37% in 1988.
Persons: Jacelyn Phang, feng, Yuan Zhong Siu, Phang, Erica Tay, Maybank, Tay, Tianchen Xu Organizations: CNBC, The Economist Intelligence Locations: China, Asia
In Maybank Investment's fengshui report for 2024, its head of research Thilan Wickramasinghe, along with fengshui master Ken Koh, take a look at which sectors will outperform and which will face headwinds in the Year of the Dragon. 2024 is the year of the wood dragon and will be "unique," according to the report. Earth, metal and fireSectors under the earth element will also benefit from the dominant fire element, Maybank said, identifying sector winners as waste management, real estate, data warehousing and urban farming. "Despite rising interest rates and inflationary costs, the dominant Earth industries have shown resilience and continue to break new grounds," the Maybank report said. Most notably, in industries under the metal element — such as banking, engineering, mining and automotive — the wood element will be prominent and will bring prosperity to the metal industries.
Persons: Roslan Rahman, Investment's, Ken Koh, Koh, Maybank Organizations: Afp, Getty Locations: Singapore
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMaybank Group Wealth Management says Malaysia is its favorite Southeast Asian marketEddy Loh, chief investment officer at Maybank Group Wealth Management, says that's partly thanks to the country's economic framework and political stability.
Persons: Eddy Loh Organizations: Wealth Management Locations: Malaysia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailA U.S. recession alone wouldn't 'dampen the story' of Southeast Asia, Maybank saysThilan Wickramasinghe, head of research for Singapore at Maybank Investment Banking Group, says that's because markets like Indonesia, Malaysia and Thailand are "strongly driven by domestic consumption."
Persons: Maybank, Thilan Wickramasinghe Organizations: Singapore, Maybank Investment Banking Group Locations: Southeast Asia, Indonesia, Malaysia, Thailand
Mohd Rasfan | Afp | Getty ImagesSoutheast Asia markets could see a turnaround in 2024 on the back of cheap valuations and potentially high economic growth, after losing some steam last year, according to Maybank. Improving growth, rising exports, a pick up in manufacturing and a better-than-expected outlook by Taiwan Semiconductor Manufacturing Company last week all mean that Southeast Asia markets are poised for a better year, said Thilan Wickramasinghe, head of research for Singapore at Maybank Investment Banking Group. "Southeast Asia really is a bargain basement of markets, when it comes to valuations," Wickramasinghe told CNBC's "Street Signs Asia." watch nowThe MSCI Southeast Asia index fell a little over 3% in 2023, compared with a more than 20% rise in the broader MSCI World index, whose top five constituents are U.S.-listed technology giants including Apple and Microsoft . The MSCI's Southeast Asia index was trading at about 13.21x its 12-month forward price-to-earnings ratio, according to data from MSCI, as of Dec. 29, compared with a 16.57x forward P/E for the MSCI World index.
Persons: Mohd Rasfan, Thilan Wickramasinghe, Wickramasinghe, CNBC's Organizations: 51st Association of Southeast Asian Nations, ASEAN, Afp, Getty, Maybank, Taiwan Semiconductor Manufacturing Company, Singapore, Maybank Investment Banking Group, Apple, Microsoft Locations: Philippines, Republic, Korea, Singapore, Asia
“This image is the last image of the Malayan tiger — or it’s the first image of the return of the Malayan tiger,” he says. ‘A million-dollar shot’Regular camera traps — like the hundreds already used by the park’s scientists, researchers and conservationists — are typically the size of a large smartphone and activated by broad-range motion sensors. Rondeau's high-resolution camera traps included a DSLR camera in a waterproof casing. Emmanuel Rondeau, wildlife photographerBut there’s still more work to be done. As a keystone species, tigers are essential to a healthy ecosystem – and without them, the 130-million-year-old rainforests around the Belum-Temengor complex could be threatened, too.
Persons: CNN — Emmanuel Rondeau, , , Rondeau, ” Rondeau, , , I’m, ” Rondeau didn’t, ‘ I’m, Carol Debra, Azlan Mohamed, Mohamed, Debra, Emmanuel Rondeau, Stuart Chapman, Chapman, ” Stuart Chapman, Merapi Mat Razi, there’s Organizations: CNN, WWF, Peninsular Malaysia, Malayan, Malaysia, Malaysia WWF, Malaysia —, country’s, “ Tigers, US, Malayan Tiger Conservation, Tiger, WWF’s Tigers, Initiative, Tigers, WWF – Malaysia, Royal, United Nations, Conservation Task Force, Bureau Locations: Asia, Siberia, Bhutan, Malaysia, Peninsular, Southeast Asia, Belum, Asli, , Royal Belum, Laos, Cambodia, Vietnam, Park
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMaybank Investment Banking Group's head of research discusses the prospects for ASEAN marketsThilan Wickramasinghe, Maybank Investment Banking Group's head of research, says Singapore's DBS is a good stock to play the artificial intelligence investment theme.
Organizations: Maybank, Banking, ASEAN, Thilan, Maybank Investment Banking, DBS
About 15% or $2.7 billion of Nvidia's revenue for the quarter ended October came from Singapore, a U.S. Securities and Exchange Commission filing showed. Revenue coming from Singapore in the third quarter jumped 404.1% from the $562 million in revenue recorded in the same period a year ago. Singapore only trailed behind the U.S. (34.77%,) Taiwan (23.91%) and China including Hong Kong (22.24%) in Nvidia's third-quarter sales rankings. "I would highly think it's due to data centers as Singapore has quite a lot of data centers and cloud service providers," Maybank Securities analyst Jarick Seet told CNBC. Building data centers, of course!," said Sang Shin, an ex-Temasek and GIC executive, in a LinkedIn post.
Persons: Jakub Porzycki, Jarick Seet, Sang Shin, Shin Organizations: Getty, Nvidia, U.S . Securities, Exchange Commission, Maybank Securities, CNBC, Temasek, GIC Locations: Krakow, Poland, U.S, Singapore, Taiwan, China, Hong Kong, Nvidia's, GIC
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailVietnam's economy is still 'at a very nascent stage,' says MaybankTyler Nguyen of Maybank Securities Vietnam discusses the country's plan to leap from frontier to emerging market status by 2025.
Persons: Maybank Tyler Nguyen Organizations: Maybank Securities Vietnam Locations: Maybank
BENGALURU, Nov 21 (Reuters) - Bank Indonesia (BI) will leave its key policy rate unchanged at 6.00% on Thursday and likely keep it at that level until at least mid-2024, according to a Reuters poll of economists in which a few respondents still expected another rate hike. "Bank Indonesia is likely to keep rates unchanged this month. In a Nov. 14-20 Reuters poll, a strong majority of economists, 27 of 31, expected Indonesia's central bank to keep its benchmark key interest rate (IDCBRR=ECI) unchanged at 6.00% on Thursday. While 12 of 28 put the key rate at 6.00% at the end of June, five had a 6.25% forecast and three had 6.50%. "Our base case is for the first BI rate cut in Q3 2024 ...
Persons: Radhika Rao, Brian Lee Shun Rong, Susobhan Sarkar, Veronica Khongwir, Milounee Purohit, Paul Simao Organizations: Bank Indonesia, Bank, greenback, U.S . Federal, U.S ., DBS, Reuters, Maybank, Thomson Locations: BENGALURU, Asia's, Bank Indonesia
Wallace hit the ball so purely down the stretch that his final six birdie putts covered a total of 15 feet, 8 inches (nearly 5 meters). Just tried my hardest to get myself back into the tournament," said Wallace, who started the day seven shots behind. Even so, the Norwegian star was in position to capture the season-ending titles on the PGA Tour and the European tour. The European tour record is nine consecutive birdies by James Nitties of Australia in the 2019 Vic Open, and 12 birdies for a round by Raphaël Jacquelin in the 2013 Turkish Open. He had a chance at only the second 59 in European tour history.
Persons: — Matt Wallace, England, ” Wallace, Tommy Fleetwood, Viktor Hovland, Nicolai Hojgaard couldn't, Wallace, “ I'm, I’ve, Hovland, “ It's, , Jon Rahm, Rory McIlroy, ” Hovland, James Nitties of, Raphaël Jacquelin, Bernd Wiesberger, , ” Hojgaard, Dane, Rasmus Hojgaard, Rasmus, ___ Organizations: United Arab Emirates, Golf Estates, Fleetwood, PGA Tour, PGA Locations: DUBAI, United Arab, Norwegian, James Nitties of Australia, Malaysia
DUBAI, United Arab Emirates (AP) — Matt Wallace made nine consecutive birdies Saturday, all of them on the back nine for a 12-under 60 in the DP World Tour Championship. Wallace had a chance at the only the second 59 in European tour history. The nine consecutive birdies equal the European tour's best by James Nitties of Australia in the 2019 Vic Open. Wallace also matched the European best — but not an official record — with 12 birdies in one round. The rest of the way, two birdies were from 6 feet and the rest were from 3 feet or closer.
Persons: — Matt Wallace, Wallace, James Nitties of, Bernd Wiesberger, Raphaël Jacquelin, ” Wallace, ___ Organizations: United Arab Emirates, Golf Estates Locations: DUBAI, United Arab, James Nitties of Australia, Malaysia
Chinese Yuan and U.S. dollar banknotes are seen in this illustration taken March 10, 2023. The surge in their borrowing from Chinese banks has catapulted the yuan past the euro into becoming the second-biggest currency used in global trade finance, providing a fillip to Beijing's ambitions to internationalize the yuan. "Panda bonds are steadily promoting the renminbi's function as a funding currency", the People's Bank of China (PBOC) said a report last month. German automaker Volkswagen Group (VOWG_p.DE) told Reuters it will use its inaugural 1.5 billion yuan panda bond proceeds only for its onshore China business. ($1 = 7.2421 Chinese yuan renminbi)Reporting by Samuel Shen and Rae Wee Editing by Vidya Ranganathan and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.
Persons: Yuan, Dado Ruvic, Fiona Lim, Lim, SWIFT, Mercedes, Yuan internationalisation, Mark Williams, It's, Maybank's Lim, Williams, Samuel Shen, Rae Wee, Vidya Ranganathan, Kim Coghill Organizations: REUTERS, Rights, BMW, Crédit Agricole S.A, National Bank of Canada, People's Bank of China, Standard Chartered Bank, Bank of China's, Volkswagen Group, Reuters, Benz Group, Capital Economics, Thomson Locations: Rights SHANGHAI, SINGAPORE, China, Hong Kong, Asia, Russia, Argentina, Pakistan, Nigeria
At 20 years old, golf phenom Rose Zhang has a reputation for poise under pressure—for being calm and disciplined in her approach to the game and her expectations about herself. Although known for breaking records and dominating the competition as an amateur, in June when she became the first woman in more than 70 years to win her professional golf debut, she expressed surprise: “I honestly didn’t even expect to make the cut.” After tying for third in the Maybank Championship in Kuala Lumpur, Malaysia, in late October, she said she just feels “really lucky,” adding: “I still have lots to learn.”Under that demeanor is a fierce drive. “Even though I’m considered pretty mellow, pretty chill, I definitely do have a very competitive spirit,” Zhang says over video from Malaysia just before the Maybank tournament. She has admitted that as a rising star on golf’s junior circuit in Southern California, she kept her 25 or so gold medals but threw away up to 20 silver ones, because who cares about second place? “I think that fight in me, that grind, has definitely allowed me to be where I am now,” she says.
Persons: Rose Zhang, , I’m, ” Zhang, Locations: Kuala Lumpur, Malaysia, Southern California
KUALA LUMPUR, Malaysia (AP) — Rose Zhang birdied the 18th hole Saturday for a 7-under 65 and a one-stroke lead after three rounds of the Maybank Championship on the LPGA Tour. The American had an 18-under total of 198 on the Kuala Lumpur Golf and Country Club course. “I just feel like being able to have this opportunity to come into the final round with a little bit of a lead is really great,” Zhang said. Kim Sei-young of South Korea was in fourth place after a 65, three strokes behind Zhang. Minjee Lee of Australia won last week’s stop in South Korea in a playoff and the final tournament is next week’s Toto Classic in Japan.
Persons: — Rose Zhang birdied, , ” Zhang, Atthaya Thitikul, Jasmine Suwannapura, Kim Sei, Zhang, Minjee Lee, Toto Organizations: LPGA, Australia Locations: KUALA LUMPUR, Malaysia, Kuala Lumpur, Thai, South Korea, Japan
Herbert "Bertie" Bowman was the longest-serving African-American staffer on Capitol Hill in US history. AdvertisementAdvertisementBertie Bowman, the longest-serving African-American staffer on Capitol Hill in history, died at 92 years old on Wednesday morning. Sen. John Kerry hugs Bowman after his confirmation hearing before the Senate Foreign Relations Committee for Secretary of State on January 24, 2013. AdvertisementAdvertisementBowman escorts Hillary Clinton at a hearing before the Senate Foreign Relations Committee on March 2, 2011. Bowman had continued to work in the Capitol until his death, becoming the longest-serving African-American congressional staffer in US history.
Persons: Herbert, Bertie, Bowman, , Bertie Bowman, Andrew Desiderio, Sen, Ben Cardin, Burnet Maybank, Maybank, Chris Dodd, Tom Williams, I'd, talkshow, Tavis Smiley, Lyndon Johnson, Strom Thurmond, John Kerry, Ken Cedeno, Jesse Helms of, J, William Fulbright of, Bill Clinton, Elvis, Clinton, Chip Somodevilla, he'd, Hillary Clinton, Alex Wong, Helms Organizations: Capitol, Senate, Service, Punchbowl News, Foreign, Station, Senate Foreign, State, William Fulbright of Arkansas, US, Foreign Relations, Washingtonian, Military Force, Islamic Locations: Washington , DC, Ben Cardin of Maryland, Summerton, South Carolina, Washington ,, Washington, Jesse Helms of North Carolina, Vietnam, Islamic State
[1/2] A China yuan note is seen in this illustration photo May 31, 2017. And funding BRI projects has helped China revitalise the once-stalled process of yuan internationalisation. Another policy bank, the Export-Import Bank of China, signed a yuan-based loan agreement with Saudi National Bank, while Bank of China helped Egypt issue Africa's first yuan-denominated Panda bonds. Beijing also allocated an additional 80 billion yuan ($10.94 billion) to its Silk Road Fund for BRI projects. "Can you do this in a targeted way with MOUs with all BRI countries?
Persons: Thomas White, Vladimir Putin, Xi, Alicia Garcia Herrero, China revitalise, Malaysia's Maybank, Haoxin Mu, Natixis, Garcia Herrero, Samuel Shen, Tom Westbrook, Simon Cameron, Moore Organizations: REUTERS, Rights, Initiative, Forum, Asia Pacific, Natixis, China International Capital Corp, China Development Bank, BBVA, Export, Import Bank of China, Saudi National Bank, Bank of, Fund, Thomson Locations: China, Rights SHANGHAI, SINGAPORE, Beijing, Russia, Asia, U.S, Ukraine, Africa, Europe, Egypt's, BBVA Peru, Bank of China, Egypt
A view of the Monetary Authority of Singapore's headquarters in Singapore June 28, 2017. In a move that surprised economists, the Monetary Authority of Singapore (MAS) said it would shift to a quarterly schedule of policy statements in 2024 from semi-annual. The MAS maintained the prevailing rate of appreciation of its currency policy band known as the Singapore dollar nominal effective exchange rate, or S$NEER. As part of the increased frequency of its policy statements, monetary policy will be reviewed in January, April, July and October instead of just April and October. Prior to April, the MAS tightened monetary policy five times in a row, including in two off-cycle moves last year.
Persons: Darren Whiteside, Chua Hak Bin, Chua, Selena Ling, Ling, Xinghui Kok, Kanupriya Kapoor, Martin Petty, Sam Holmes Organizations: Monetary Authority, REUTERS, Rights, Monetary Authority of Singapore, MAS, Singapore, Gross, Reuters, Thomson Locations: Singapore, Rights SINGAPORE
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMaybank discusses the 'interesting' areas in Southeast Asian marketsAnand Pathmakanthan of Maybank Investment Banking Group says ASEAN will "remain very interesting" for small- and mid-cap stock pickers and names the sectors that will be least affected by external headwinds.
Persons: Maybank, Anand Pathmakanthan Organizations: Maybank Investment Banking Group, ASEAN
Structured certificates are financial instruments issued by a third party, that are based on underlying assets — their returns depend on the performance of the asset, which can be a single stock or an equity index. Singapore began offering listed structured certificates on Aug. 30, with its inaugural issue being one linked to Hong Kong-listed shares of Chinese tech giant Alibaba Group Holding . "So tech names, Hong Kong names, U.S. names, Japanese names. SGX's move to broaden its equity-linked product base "could drive incremental market interest," including offering depository receipts and structured certificates, Wickramasinghe told CNBC. Structured certificates are more more popular in Europe, as investors there are "broadly speaking, very yield focused," Syn told CNBC.
Persons: Roslan RAHMAN, ROSLAN RAHMAN, Roslan Rahman, Thilan Wickramasinghe, Michael Syn, CNBC's, Serene Cai, Tharman, Wickramasinghe, Syn, Adam Reynolds, Reynolds Organizations: Getty, Afp, Singapore Exchange, CNBC, Inside Venture, Saxo Markets Locations: Singapore, AFP, Asia, Hong Kong, SGX, Pacific, Europe
Japanese government bonds remained under pressure on Tuesday, with 10-year JGB yields up 1 basis point to a fresh high of 0.71%. Japan's Nikkei (.N225) rose 0.61%, with markets looking to U.S. inflation data and this week's European Central Bank meeting to set interest rate expectations and the mood. Overnight, the weaker dollar and upgrade on Tesla from analysts at Morgan Stanley helped U.S. stock markets gain. "There is a sense that ECB is already done for the cycle," said Maybank analysts in a note to clients. "Recent PMI prints suggest that growth outlook could be deteriorating and puts the euro at risk of further downside.
Persons: Kazuo Ueda, Chris Weston, Matt Simpson, Christopher Wong, Morgan Stanley, bitcoin, Lincoln, Simon Cameron, MOore Organizations: Federal Reserve, Bank of Japan, Reuters, Investors, HK, Mainland Properties, Japan's Nikkei, Central Bank, Arm Holdings, New Zealand, ECB, PMI, Fed, Brent, Thomson Locations: SINGAPORE, China, Japan, Melbourne, Hang, Asia, Pacific, British, New York
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