As of 10:47 p.m. ET Sunday, Dow Jones Industrial Average futures were 410 points lower, pointing to an implied opening plunge of 403.41 points for the index on Monday.
Investors continue to watch developments surrounding the coronavirus outbreak where cases in South Korea and Italy have spiked in recent days.
South Korea has raised its coronavirus alert to the "highest level," with the latest spike in numbers bringing the total infected to more than 750 — making it the country with the most cases outside mainland China.

As of 10:47 p.m. ET Sunday, Dow Jones Industrial Average futures were 410 points lower, pointing to an implied opening plunge of 403.41 points for the index on Monday.
Investors continue to watch developments surrounding the coronavirus outbreak where cases in South Korea and Italy have spiked in recent days.
South Korea has raised its coronavirus alert to the "highest level," with the latest spike in numbers bringing the total infected to more than 750 — making it the country with the most cases outside mainland China.

Dow Jones set to drop about 400 points at the open as coronavirus cases outside China surge
PUBLISHED SUN, FEB 23 2020 7:06 PM EST
UPDATED 27 MIN AGO
Eustance Huang
@EUSTANCEHUANG

Klse index falling 36 points. Ringgit fall 4.22 against usd.

Unemployment in industries such as recreational services and air travel could spike between 0.5% and 0.8%, and 1.8% and 3.5% respectively

By ALIFAH ZAINUDDIN / Pic By MUHD AMIN NAHARUL

THE Malaysian Institute of Economic Research (MIER) expects unemployment to rise in tourism related sectors in the first quarter this year as the Covid-19 outbreak continues to disrupt travel plans and supply chains globally.

Based on projections by the local think tank, unemployment in industries such as recreational services and air travel could spike between 0.5% and 0.8%, and 1.8% and 3.5% respectively, with the latter representing the worst-case scenario.

MIER deputy director Prof Dr Jamal Othman said companies affected may consider job cuts to cope with the financial impact of Covid-19.

“From the results that we have, the tourism sector is the most affected. If companies respond rationally from a business perspective, they may need to shed some of their employees.

Unemployment in industries such as recreational services and air travel could spike between 0.5% and 0.8%, and 1.8% and 3.5% respectively

By ALIFAH ZAINUDDIN / Pic By MUHD AMIN NAHARUL

THE Malaysian Institute of Economic Research (MIER) expects unemployment to rise in tourism related sectors in the first quarter this year as the Covid-19 outbreak continues to disrupt travel plans and supply chains globally.

Based on projections by the local think tank, unemployment in industries such as recreational services and air travel could spike between 0.5% and 0.8%, and 1.8% and 3.5% respectively, with the latter representing the worst-case scenario.

MIER deputy director Prof Dr Jamal Othman said companies affected may consider job cuts to cope with the financial impact of Covid-19.

“From the results that we have, the tourism sector is the most affected. If companies respond rationally from a business perspective, they may need to shed some of their employees.

Unemployment in industries such as recreational services and air travel could spike between 0.5% and 0.8%, and 1.8% and 3.5% respectively

By ALIFAH ZAINUDDIN / Pic By MUHD AMIN NAHARUL

THE Malaysian Institute of Economic Research (MIER) expects unemployment to rise in tourism related sectors in the first quarter this year as the Covid-19 outbreak continues to disrupt travel plans and supply chains globally.

Based on projections by the local think tank, unemployment in industries such as recreational services and air travel could spike between 0.5% and 0.8%, and 1.8% and 3.5% respectively, with the latter representing the worst-case scenario.

MIER deputy director Prof Dr Jamal Othman said companies affected may consider job cuts to cope with the financial impact of Covid-19.

“From the results that we have, the tourism sector is the most affected. If companies respond rationally from a business perspective, they may need to shed some of their employees.

Unemployment in industries such as recreational services and air travel could spike between 0.5% and 0.8%, and 1.8% and 3.5% respectively

By ALIFAH ZAINUDDIN / Pic By MUHD AMIN NAHARUL

THE Malaysian Institute of Economic Research (MIER) expects unemployment to rise in tourism related sectors in the first quarter this year as the Covid-19 outbreak continues to disrupt travel plans and supply chains globally.

Based on projections by the local think tank, unemployment in industries such as recreational services and air travel could spike between 0.5% and 0.8%, and 1.8% and 3.5% respectively, with the latter representing the worst-case scenario.

MIER deputy director Prof Dr Jamal Othman said companies affected may consider job cuts to cope with the financial impact of Covid-19.

“From the results that we have, the tourism sector is the most affected. If companies respond rationally from a business perspective, they may need to shed some of their employees.

Already below 1500

Klse index sliding to 35 points to 1495

Hong Kong’s government should tap its ample fiscal reserves to stimulate an economy mired in recession, including offering its citizens HK$10,000 ($1,287) handouts in the form of spending vouchers, accounting firm KPMG LLP said.

Hong Kong Should Give Each Resident HK$10,000 to Spur Demand, KPMG Says
By Eric Lam
February 18, 2020, 8:48 PM EST
Recommendation comes as government prepares annual budget
Hong Kong expected to record first budget deficit in 15 years

Ringgit extends downtrend to 4.210 against US dollar at opening

Kenanga Investment Bank Research said its technical chartist is of the view that with renewed and heightened political anxiety, there is a possibility that the KLCI will break below the key support level of 1,500 (being the first support level).

Kenanga Investment Bank Research said its technical chartist is of the view that with renewed and heightened political anxiety, there is a possibility that the KLCI will break below the key support level of 1,500 (being the first support level).

Kenanga Investment Bank Research said its technical chartist is of the view that with renewed and heightened political anxiety, there is a possibility that the KLCI will break below the key support level of 1,500 (being the first support level).

KLCI skids to 1,500 on uncertainties in ruling govt

Klse index dropped 22 points.

Ringgit to trade between 4.16-4.22 against US dollar next week

Ringgit to trade between 4.16-4.22 against US dollar next week

Ringgit to trade between 4.16-4.22 against US dollar next week

Usd against ringgit dropped to 4.195

U.S. Dollar Nears a Critical Level That May Trigger a Buying Spree
By John Ainger
February 20, 2020, 6:38 PM GMT+8
Updated on February 21, 2020, 1:56 AM GMT+8
Dollar gauge rises to highest since 2017, nears 100 level
Greenback proves main haven as options traders bet against yen

U.S. Dollar Nears a Critical Level That May Trigger a Buying Spree
By John Ainger
February 20, 2020, 6:38 PM GMT+8
Updated on February 21, 2020, 1:56 AM GMT+8
Dollar gauge rises to highest since 2017, nears 100 level
Greenback proves main haven as options traders bet against yen

U.S. Dollar Nears a Critical Level That May Trigger a Buying Spree
By John Ainger
February 20, 2020, 6:38 PM GMT+8
Updated on February 21, 2020, 1:56 AM GMT+8
Dollar gauge rises to highest since 2017, nears 100 level
Greenback proves main haven as options traders bet against yen

HONG KONG: Hong Kong is facing "tsunami-like” shocks, and may incur a record budget deficit in the next fiscal year as the city counts the costs of the Covid-19 (coronavirus) outbreak after months of social unrest, Financial Secretary Paul Chan said on Sunday (Feb 16).

The impact of the epidemic on the Hong Kong economy is being felt beyond retail, food and beverage and tourism-related industries, Chan said in a blog post Sunday.

The short-term economic outlook is "cautious,” and shocks can cause the unemployment rate to "deteriorate rapidly,” Chan said.

HONG KONG: Hong Kong is facing "tsunami-like” shocks, and may incur a record budget deficit in the next fiscal year as the city counts the costs of the Covid-19 (coronavirus) outbreak after months of social unrest, Financial Secretary Paul Chan said on Sunday (Feb 16).

The impact of the epidemic on the Hong Kong economy is being felt beyond retail, food and beverage and tourism-related industries, Chan said in a blog post Sunday.

The short-term economic outlook is "cautious,” and shocks can cause the unemployment rate to "deteriorate rapidly,” Chan said.

HONG KONG: Hong Kong is facing "tsunami-like” shocks, and may incur a record budget deficit in the next fiscal year as the city counts the costs of the Covid-19 (coronavirus) outbreak after months of social unrest, Financial Secretary Paul Chan said on Sunday (Feb 16).

The impact of the epidemic on the Hong Kong economy is being felt beyond retail, food and beverage and tourism-related industries, Chan said in a blog post Sunday.

The short-term economic outlook is "cautious,” and shocks can cause the unemployment rate to "deteriorate rapidly,” Chan said.

KUALA LUMPUR (Feb 6): FGV Holdings Bhd could be the winner if palm oil supply to Pakistan rises following the Pakistan government's expression of interest to import more palm oil from Malaysia, said Palm Oil Analytics owner and co-founder Dr Sathia Varqa.

Psiptek price still low. Psiptek still earned profit.

London Biscuits in PN17 list. Just like Perisai. Soon will back to Holland.

A bigger impact on economic activity is likely to come via a hit to consumer spending as the constant news of the fires and the smoke haze in several capital cities weighs on confidence. Australians were already very hesitant about the economic outlook after the slowdown in growth seen last year and continuing weak wages growth and high underemployment. A Roy Morgan survey released late last year found that 40% of Australians thought that 2020 will be worse than 2019, which is the worse reading since the early 1990s recession. At the same time a record-low 12% thought it would be better resulting in a net negative reading of 28% which is the worst in the survey’s 40-year history.

The damage to property and wealth flowing from the bushfires will likely run into many billions. For example, the Victorian Black Saturday bushfires are estimated to have cost $4.4bn, whereas the current fires have covered an area 15 times bigger. So there will be a very big rebuilding boost to economic activity to come once the fires are brought under control. But the fires have been very widespread, have been going on for several months now and the crisis is continuing, so there will be a significant short-term negative impact and it likely will involve more than a short-term disruption to economic activity.

Physical disasters invariably cause a brief disruption to economic activity as measured by GDP followed by a boost as wealth destroyed by the disaster is rebuilt. In this sense measured across a year or so they are often seen as positive for economic growth, albeit this seems perverse particularly for those directly impacted.

The Australian bushfire season that began in September has been horrific with more than 7 million hectares of bush destroyed, more than 25 deaths, significant loss of livestock, estimates of more than a billion wildlife animals killed and more than 1800 homes destroyed. More than 200 fires are still burning. Following the intensification of the bushfires over the Christmas/New Year period attention has now turned to the impact on the economy. This note looks at the key impacts.

The short-term impact on GDP and wealth

U.S. Confirms Iranian Missile Strikes on Iraqi Bases Housing U.S. Troops

U.S. Confirms Iranian Missile Strikes on Iraqi Bases Housing U.S. Troops

SARS-LIKE OUTBREAK SUSPECTED IN WUHAN
BEIJING • Chinese experts are investigating an outbreak of a respiratory illness in the central city of Wuhan that some have likened to the 2002-2003 outbreak of Sars (Severe Acute Respiratory Syndrome).

The city's health commission said in a statement yesterday that 27 people had fallen ill with a strain of viral pneumonia, seven of whom were in serious condition. However, the health commission said the cause of the outbreak was still unclear and called on citizens not to panic.

SARS-LIKE OUTBREAK SUSPECTED IN WUHAN
BEIJING • Chinese experts are investigating an outbreak of a respiratory illness in the central city of Wuhan that some have likened to the 2002-2003 outbreak of Sars (Severe Acute Respiratory Syndrome).

The city's health commission said in a statement yesterday that 27 people had fallen ill with a strain of viral pneumonia, seven of whom were in serious condition. However, the health commission said the cause of the outbreak was still unclear and called on citizens not to panic.

Post removed.Why?

Post removed.Why?

KBank warns of baht volatility after sell-offs
National
Dec 09. 2019
Facebook TwitterBy The Nation3,458 Viewed
The baht faced sell-offs early in the week in line with falling safe-haven currencies and assets, triggered by stronger-than-expected Chinese PMI (purchase managers index) data.

The baht fell further later in the week to a one-month low of Bt30.38 to the US dollar, after the Bank of Thailand (BOT) signalled to closely monitor the baht's movement and warned that the Thai currency would likely be volatile and might not have one-sided gains as seen in the past months. In addition, the baht’s losses were also in line with net foreign selling orders of Thai stocks. During the week December 9-13, Kasikorn Research Centre (KBank) expects the baht to move within a range of Bt30.20-30.50 to the dollar.

Tuesday, December 10, 2019

KBank warns of baht volatility after sell-offs
National
Dec 09. 2019
Facebook TwitterBy The Nation3,458 Viewed
The baht faced sell-offs early in the week in line with falling safe-haven currencies and assets, triggered by stronger-than-expected Chinese PMI (purchase managers index) data.

The baht fell further later in the week to a one-month low of Bt30.38 to the US dollar, after the Bank of Thailand (BOT) signalled to closely monitor the baht's movement and warned that the Thai currency would likely be volatile and might not have one-sided gains as seen in the past months. In addition, the baht’s losses were also in line with net foreign selling orders of Thai stocks. During the week December 9-13, Kasikorn Research Centre (KBank) expects the baht to move within a range of Bt30.20-30.50 to the dollar.

Take the case of agriculture products. From the farm gate to fork, there are far too many players, especially the middlemen, who make agricultural product prices prohibitive. Business malpractices, such as hoarding, price manipulation and cartels, make the bad situation worse.

Carmelo De Ferlito of the Institute for Democracy and Economic Affairs says Malaysia can do a number of things that may cause the appreciation of the ringgit. Admitting the possibility of pure speculation in the ringgit, he says currency transactions are largely influenced by the “mood” created by economic fundamentals and other factors.

The market may dictate, but the nation must decide. With or without a ringgit peg. If we have to do it, we should go ahead.

© 2019. NEW STRAITS TIMES PRESS (M) BERHAD (4485-H).
ALL RIGHTS RESERVED.

Take the case of agriculture products. From the farm gate to fork, there are far too many players, especially the middlemen, who make agricultural product prices prohibitive. Business malpractices, such as hoarding, price manipulation and cartels, make the bad situation worse.

Carmelo De Ferlito of the Institute for Democracy and Economic Affairs says Malaysia can do a number of things that may cause the appreciation of the ringgit. Admitting the possibility of pure speculation in the ringgit, he says currency transactions are largely influenced by the “mood” created by economic fundamentals and other factors.

The market may dictate, but the nation must decide. With or without a ringgit peg. If we have to do it, we should go ahead.

© 2019. NEW STRAITS TIMES PRESS (M) BERHAD (4485-H).
ALL RIGHTS RESERVED.

So what determines the value of the ringgit? Simply put, whatever happens within and without. Crude oil prices and the US-China trade war are two external determinants. Consider the trade war. According to Afzanizam, there has been a rise in risk aversion among investors since the trade spat began between the world’s two largest economies.

The effect: rush to buy “safe haven” currencies, such as the US dollar, Swiss franc, Japanese yen and euro. The result: a weakening of the ringgit. Unfortunately, this is one lever Malaysia can’t pull or push. It must look at what is within its control. Like cost of living issues.

What causes the ringgit to be where it is? There are many factors, but first let’s settle the fair value question. Notwithstanding views to the contrary, we think there is one. So does the chief economist at Bank Islam, Dr Mohd Afzanizam Abdul Rashid, who has been keeping tabs on the ringgit. He says the ringgit has averaged 3.59 to the US dollar since July 2015 when Malaysia unpegged the currency.

To Afzanizam, the ringgit’s fair value should range between 3.80 and 3.90 to the US dollar. Close to the homegrown solution of pegging the ringgit at 3.80 to the US dollar.

Human and institutional manipulation is possible. Want examples? Currency speculation and financial meltdowns are glaring examples. We dare say this: the greedy and powerful were behind them.

We should not be too quick to assign inevitability to the decisions of the market. Plus, Cambridge University economist Ha-Joon Chang tells us what makes the market “free” is, if at all it is so, a political decision. He is right.

The government is always involved in the market. Here and everywhere else. So are free marketeers! Adam Smith is wrong: the invisible hand isn’t invisible at all. But this is a discussion for another time.

NST Leader: Appreciating ringgit
DECEMBER 4, 2019 @ 12:06AM

The market may dictate, but the nation must decide. With or without a ringgit peg. If we have to do it, we should go ahead. - FILE PIC
THE market is saying something about the ringgit. Whether it is right or wrong is up for discussion (expect some economists to disagree with this). When this Leader went to press, the ringgit was trading at 4.17 to the United States dollar.

Is this a fair value of the country’s currency? Free marketeers will be offended by this question. To them, no one will know this except the market. True, there is a market out there — nebulous though it is — but it isn’t as free as we like to think it is.

1 Brazilian real to 0.99 ringgit
1 ringgit to 1.01 Brazilian real