Malaysia

 IPI Expanded By A Marginal 1.0%. Production in the month of September expanded by a marginal 1.0% YoY, following a revised growth of 2.7% (2.3% previously) in August. The growth was largely attributed to expansion in manufacturing, specifically E&E and transportation equipment. Compared to the previous month, it increased by 1.5% MoM. For the whole of the 3Q13, industrial production grew 3.7%, a tad slower compared to 3.9% in the 2Q13 due weaker mining index. (Please refer to Economic Viewpoint for further comments)

Asia

 China New-Credit Drop Shows Shadow-Finance Curbs As Leaders Meet. China’s broadest measure of new credit fell by more than estimated in October, suggesting authorities are trying to keep shadow-finance risks in check as leaders map out a blueprint to sustain growth. Aggregate financing was 856.4 billion yuan ($140.6 billion), the People’s Bank of China said yesterday in Beijing, below all nine projections in a Bloomberg News survey. New local-currency loans of 506.1 billion yuan compared with the 580 billion yuan median estimate of analysts. M2, the broadest measure of money supply, rose 14.3 % from a year earlier. (Bloomberg)

 India Targets US$2.3b In Asset Sales. India has revived plans to sell stakes in two state-owned companies to raise about US$2.3 billion to boost public finances, aiming to push through a sale by mid-December to take advantage of a share market rally. The government’s Department of Disinvestment, which oversees stake sales in state companies, has also completed most of the overseas roadshows to sell a five per cent stake in state miner Coal India, which could fetch about US$1.5 billion, sources said. (Reuters)

North America

 Canada Consumer Confidence Extends Drop On Job Security. Canadian consumer confidence fell for the fifth time in six weeks as the nation’s economy struggles to build momentum, according to the Bloomberg Nanos Canadian Confidence Index. The weekly measure of the economic mood of Canadians fell to 58.2 in the period ended Nov. 8, from 58.5 the previous week. The index has declined since touching 59.8, a two-year high, at the end of September. (Bloomberg)

Europe

 EU And US Resume Trade Deal Talks. The EU and US have begun a second round of negotiations towards creating the world's biggest free-trade deal. Talks on the Transatlantic Trade and Investment Partnership (TTIP) had been set for October, but were postponed because of the US government shutdown. Together the US and EU account for about $30 trillion of annual output - almost half the world's total. The EU says a deal could bring annual benefits of 119bn euros ($159bn) for its 28 member states. It is hoped that an agreement could be reached by the end of 2014. (BBC)

 Germany Under Renewed EU Pressure To Lift Domestic Demand. Germany came under renewed pressure from the European Union to boost domestic spending as the EU’s top economy official said higher German demand would help temper the euro’s strength and reiterated a threat to open an in-depth probe of the nation’s trade surplus. Germany’s current-account balance, at 7 % of gross

domestic product, is the second-highest in the euro area, and EU Economic and Monetary Affairs Commissioner Olli Rehn said an increase in the country’s domestic demand would bring the surplus down and help struggling EU nations boost their exports. (Bloomberg)

Currencies

 Dollar Gains Versus Most Rivals Except Euro. The euro strengthened against the U.S. dollar Monday as the foreign exchange market focused on potential fallout from the European Central Bank’s recent rate cut, even as the dollar gained against its other major rivals. The euro rose to $1.3410 from late Friday’s $1.3361 on low volumes due to the Veterans Day holiday in the U.S. The British pound inched down to $1.5991 from $1.5995, while the dollar edged up to ¥99.20 from ¥99.00 at the end of the previous week. The ICE dollar index, a measure of the U.S. unit against six rivals, fell to 81.075 from 81.255 late Friday. In other action, the Australian dollar fell to 93.55 U.S. cents from Friday’s 93.88 U.S. cents. The Brazilian real also weakened Monday as U.S. taper expectations continued to take a toll on emerging markets, with the dollar rising to 2.3307 real from 2.3127. (Market Watch)

Commodities

 Brent Oil Rises As Iran Talks End Without Deal. Brent crude oil prices rose more than $1 per barrel on Monday after Iran and six world powers fell short of reaching a deal on Tehran's nuclear program. Brent settled $1.28 per barrel higher at $106.40, after trading as high as $106.47. U.S. crude settled 54 cents higher at $95.14 a barrel, after touching a high of $95.38. The contract breached the 10-day moving average of $95.26 in intraday trading for the first time in three weeks. (Reuters)

 Gold Falls On Strong Chinese Data, Fed Taper Worries. Gold prices fell on Monday to their lowest levels in nearly a month as signs of steady Chinese economic growth fuelled worries about monetary tightening there and extended the previous session's slide on U.S. Federal Reserve tapering fears. Spot gold was down 0.5 % at $1,282.56 an ounce by 1:54 p.m. EST (1854 GMT), having earlier hit its lowest since Oct. 17 at $1,278.94 an ounce in early trade. Spot silver fell 0.4 % to $21.37 an ounce. Platinum dropped 0.7 % to $1,428.99 an ounce, while palladium fell 0.6 % to $751.50 an ounce. (Reuters)