The US Federal Reserve has cut interest rates for the first time in more than a decade and signalled its readiness to provide more support as growth slows in the world’s largest economy.

The US central bank cut its key benchmark interest rate by a quarter of a percentage point, to a range of 2%-2.25%, in the first reduction in borrowing costs since immediately after the financial crisis a decade ago.

The US Federal Reserve has cut interest rates for the first time in more than a decade and signalled its readiness to provide more support as growth slows in the world’s largest economy.

The US central bank cut its key benchmark interest rate by a quarter of a percentage point, to a range of 2%-2.25%, in the first reduction in borrowing costs since immediately after the financial crisis a decade ago.

Federal Reserve cuts interest rates by 0.25% – its first in a decade
Fed chief Jerome Powell ‘let us down’, says Trump amid disappointment that rates were not cut harder.

Federal Reserve cuts interest rates by 0.25% – its first in a decade
Fed chief Jerome Powell ‘let us down’, says Trump amid disappointment that rates were not cut harder.

Federal Reserve cuts interest rates by 0.25% – its first in a decade
Fed chief Jerome Powell ‘let us down’, says Trump amid disappointment that rates were not cut harder.

Wholesale banking and Private Wealth solutions in Hong Kong.
About

Maybank Hong Kong has been in operations since February 1962. It is part of the Maybank Group which is the largest banking Group in Malaysia and 4th largest bank by asset in South East Asia with significant presence. It has evolved from a traditional retail bank into a commercial bank offering an extensive range of wholesale banking products including Corporate Lending, Capital Markets, Cash Management, and Trade Finance to large local and multinational corporations. Maybank Hong Kong also provides Private Wealth solutions to eligible individuals.

Public Bank (Hong Kong) Limited (“Public Bank (Hong Kong)” or the “Bank”) is a commercial bank registered under the Banking Ordinance of Hong Kong and under the supervision of the Hong Kong Monetary Authority. Public Bank (Hong Kong) was formerly known as Asia Commercial Bank (“ACB”) and was incorporated in 1934. In May 2006, Public Bank Berhad (“Public Bank”) of Malaysia, through its subsidiary, Public Financial Holdings Limited (“Public Financial”), acquired 100% interest in ACB and subsequently changed its name to Public Bank (Hong Kong) Limited in June 2006 to reflect its association with Public Bank. In October 2008, Public Finance Limited (“Public Finance”) which is engaged mainly in provision of personal and commercial lending, became a wholly owned subsidiary of the Bank as part of the group’s reorganisation. The shares of Public Financial are listed on The Stock Exchange of Hong Kong Limited (Stock Code: 626), and the shares of Public Bank are listed on Malaysian stock exchange. Further information of Public Bank can be viewed at its corporate website (www.publicbank.com.my).

Under the Public Bank Group umbrella, Public Bank (Hong Kong) focuses on the expansion of its retail and commercial banking business and on building its brand name through branch expansion programme, innovative product development and aggressive marketing strategies. The Bank has ratings of A3 long-term and Prime-2 short-term foreign currency and local currency deposit ratings assigned by Moody’s Investors Service. The outlook for all the ratings is stable.

Public Bank (Hong Kong) provides a comprehensive range of retail and commercial banking services and is committed to serve its customers in Hong Kong and Greater China. Currently, the Bank has 32 branches in Hong Kong, 1 branch and 4 sub-branches in Shenzhen and a representative office each in Shanghai and Shenyang in the PRC. The Bank will continue to expand its branch network to serve the customers and public at large wholeheartedly with high quality services.

HONG KONG: Hong Kong on Monday (Jul 29) bore the scars of another night of violent protests with hard hats, umbrellas and water bottles littering some central streets, as Beijing was set to make an announcement on the Asian financial centre's worst crisis since 1997.

In a rare move, the Hong Kong and Macau Affairs Office in Beijing, which has Cabinet-level authority over the former British colony, is due to hold a press conference at 3pm about the unrest gripping the former British colony.

That follows another weekend of clashes between protesters and police, who again fired rubber bullets and tear gas as the demonstrations grow increasingly violent.

HONG KONG: Hong Kong on Monday (Jul 29) bore the scars of another night of violent protests with hard hats, umbrellas and water bottles littering some central streets, as Beijing was set to make an announcement on the Asian financial centre's worst crisis since 1997.

In a rare move, the Hong Kong and Macau Affairs Office in Beijing, which has Cabinet-level authority over the former British colony, is due to hold a press conference at 3pm about the unrest gripping the former British colony.

That follows another weekend of clashes between protesters and police, who again fired rubber bullets and tear gas as the demonstrations grow increasingly violent.


Read more at https://www.channelnewsasia.com/news/asia/china-address-hong-kong-unrest-protests-beijing-11761502

HONG KONG: Hong Kong on Monday (Jul 29) bore the scars of another night of violent protests with hard hats, umbrellas and water bottles littering some central streets, as Beijing was set to make an announcement on the Asian financial centre's worst crisis since 1997.

In a rare move, the Hong Kong and Macau Affairs Office in Beijing, which has Cabinet-level authority over the former British colony, is due to hold a press conference at 3pm about the unrest gripping the former British colony.

That follows another weekend of clashes between protesters and police, who again fired rubber bullets and tear gas as the demonstrations grow increasingly violent.


Read more at https://www.channelnewsasia.com/news/asia/china-address-hong-kong-unrest-protests-beijing-11761502

Older boss go. New boss in. Hopefully bring new changes.

This mean change new big boss??

45 injured after mob attack at Hong Kong MTR station


Men wearing white attacking protesters and commuters at Yuen Long MTR station on Jul 21, 2019


HONG KONG: At least 45 people were injured, with one person in critical condition, after a group of masked men attacked anti-government protesters and commuters at a Hong Kong train station on Sunday night (Jul 21), according to the city's hospital authorities.

The group, many wielding sticks and clad in white T-shirts, flooded into a Mass Transit Railway (MTR) station in the rural Yuen Long district, storming a train and attacking passengers, according to footage taken by commuters and opposition lawmaker Lam Cheuk-ting.


Read more at https://www.channelnewsasia.com/news/asia/hong-kong-yuen-long-mtr-station-masked-men-injured-11741980

45 injured after mob attack at Hong Kong MTR station


Men wearing white attacking protesters and commuters at Yuen Long MTR station on Jul 21, 2019


HONG KONG: At least 45 people were injured, with one person in critical condition, after a group of masked men attacked anti-government protesters and commuters at a Hong Kong train station on Sunday night (Jul 21), according to the city's hospital authorities.

The group, many wielding sticks and clad in white T-shirts, flooded into a Mass Transit Railway (MTR) station in the rural Yuen Long district, storming a train and attacking passengers, according to footage taken by commuters and opposition lawmaker Lam Cheuk-ting.


Read more at https://www.channelnewsasia.com/news/asia/hong-kong-yuen-long-mtr-station-masked-men-injured-11741980

HONG KONG: A group of masked men, many wielding sticks and dressed in white clothes, attacked anti-government protesters and commuters inside a Hong Kong Mass Transit Railway (MTR) station on Sunday night (Jul 21).

At the station in the New Territories district of Yuen Long, screams rang out as protesters who had attended a demonstration earlier in the day were attacked by men in white T-shirts, some armed with poles, as they arrived home.


Read more at https://www.channelnewsasia.com/news/asia/hong-kong-yuen-long-mtr-station-protesters-masked-men-white-11741840

HONG KONG: A group of masked men, many wielding sticks and dressed in white clothes, attacked anti-government protesters and commuters inside a Hong Kong Mass Transit Railway (MTR) station on Sunday night (Jul 21).

At the station in the New Territories district of Yuen Long, screams rang out as protesters who had attended a demonstration earlier in the day were attacked by men in white T-shirts, some armed with poles, as they arrived home.


Read more at https://www.channelnewsasia.com/news/asia/hong-kong-yuen-long-mtr-station-protesters-masked-men-white-11741840

In general, the total trade in Singapore decreased sharply in June. Total imports decreased by 4.8% in June while total exports decreased by 9.3%. On a seasonally-adjusted basis, the total trade decreased by 3.5% in June after growing by 3.5% in May.

It is these weaknesses in the country’s economy that caused the International Monetary Fund (IMF) to slash the growth forecast for the country. The organization expects the economy to grow by 2 per cent this year, down from the previous estimate of 2.3%. This slowdown is blamed on the trade tensions. Surprisingly, Singapore was expected to benefit as more companies move from China.

As a result of all this, the Singapore dollar has weakened significantly against the USD. The pair has risen to 1.3607, which is the highest level since July 11. On the chart below, the price is above the 14-day and 28-day moving averages while the RSI has moved to above the overbought level of 70. The pair will likely continue moving higher to test the 1.3630 level.

Singapore Dollar Falls as Non-Oil Exports Tank in June

However, the Singaporean economy is going through a difficult patch. Data released recently from the country show that the economy is indeed weakening. In May, the country released the GDP data that showed Q1 economy grew by 1.2%, which was lower than the Q4’18 1.3%. In July, data from the statistics office showed that the GDP increased by an annualized rate of 0.1% in the second quarter. This was much lower than the growth of 1.1% that traders were expecting. It was also lower than the Q1 revised growth of 1.1%. The country now expects the economy to grow by between 1.5% and 2.5% this year. However, analysts expect this number to be downgraded.

Today, data from the country showed more weakness. In June, the non-oil exports declined by -17.93%. This was much lower than the -9.90% that traders were expecting. It was even worse than the -16.305 that was released in June. On a MoM basis, the non-oil exports declined by -7.60%, which was lower than the expected -3.90%. On a seasonal adjusted basis, the NODX reached S$12.9 billion in June, which was lower than the S$14 billion released in May.

On the other hand, the Non-Oil Retained Imports of Intermediate Goods (NORI) increased by S$0.6 billion from S$5.3 billion in the previous month to S$5.9 billion in June. This led to the trade surplus to narrow to S$2.4 billion.

The threat to Hong Kong’s vital retail sector will hit its economy at a time when it is already slowing. Retail sales data for June is due for release on August 1, with the value of goods sold having contracted every month since February.

The “industry is worried that these events will damage Hong Kong’s international image as a safe city, a culinary capital, and a shopping heaven,” the association said in a statement.

Hong Kong is beginning to reckon with the economic cost of ongoing protests against the government’s extradition bill, as the disruption risks driving away local shoppers and deterring tourists from mainland China.

The Hong Kong Retail Management Association said Tuesday that “most members” reported a single-to-double-digit drop in average sales revenue between June and the first week of July, when multiple demonstrations converging on major office and retail districts took place.

Economics
Hong Kong’s Economy Starts to Feel the Hit from Protest Chaos
Bloomberg News
July 16, 2019, 11:33 PM EDT
Updated on July 16, 2019, 11:41 PM EDT
Retailers see risk of lower sales as disruption endures
City’s economy is already slowing, retail is contracting

Hong Kong police anger has reached boiling point after force is cast as public enemy in extradition bill fiasco while protesters break law at will, insiders say

Auro/Acu

Asean currency?

Eurozone is Euro.
The Economic Community of West African States (ECOWAS) is Eco currency.

Higher chance of MAS easing monetary policy in Oct: Analysts

Singapore's central bank is increasingly likely to ease monetary policy at its semi-annual meeting in October in a bid to boost an export-reliant economy being choked by the US-China trade war, economists said yesterday.

Earlier yesterday, preliminary data showed that Singapore had annual growth of just 0.1 per cent in the second quarter, its slowest expansion in a decade and well below expectations - increasing the chances that the Monetary Authority of Singapore (MAS) will act.

Higher chance of MAS easing monetary policy in Oct: Analysts

Singapore's central bank is increasingly likely to ease monetary policy at its semi-annual meeting in October in a bid to boost an export-reliant economy being choked by the US-China trade war, economists said yesterday.

Earlier yesterday, preliminary data showed that Singapore had annual growth of just 0.1 per cent in the second quarter, its slowest expansion in a decade and well below expectations - increasing the chances that the Monetary Authority of Singapore (MAS) will act.

Will the president sign off on currency intervention?
If there’s anything on the economic menu President Donald Trump desires nearly as much as lower interest rates, it’s probably a weaker U.S. dollar. The question for investors is how far will he go to get it.

Goldman Sachs on Thursday described outright currency-market intervention as a possibility, albeit a “low but rising risk.” Analyst Michael Cahill pointed to an increasing series of presidential tweets, comments and policy actions and proposals that have put U.S. currency policy back in the spotlight.

Will the president sign off on currency intervention?
If there’s anything on the economic menu President Donald Trump desires nearly as much as lower interest rates, it’s probably a weaker U.S. dollar. The question for investors is how far will he go to get it.

Goldman Sachs on Thursday described outright currency-market intervention as a possibility, albeit a “low but rising risk.” Analyst Michael Cahill pointed to an increasing series of presidential tweets, comments and policy actions and proposals that have put U.S. currency policy back in the spotlight.

Will the president sign off on currency intervention?
If there’s anything on the economic menu President Donald Trump desires nearly as much as lower interest rates, it’s probably a weaker U.S. dollar. The question for investors is how far will he go to get it.

Goldman Sachs on Thursday described outright currency-market intervention as a possibility, albeit a “low but rising risk.” Analyst Michael Cahill pointed to an increasing series of presidential tweets, comments and policy actions and proposals that have put U.S. currency policy back in the spotlight.

Gold price recouped losses and hit one-week high after Fed chairman Jerome Powell gave strong signals of an impending cut in benchmark interest rate later this month. Gold price skyrocketed in June after remaining range bound in the first five months of this year. The rally was primarily driven by three macro factors -- a dovish Fed and other major central banks, trade-related conflict across the world and fears of a global economic slowdown.

THE US dollar was stuck at a five-day low on Thursday after Federal Reserve chair Jerome Powell kept the door open for US interest rate cuts, though investors were wary of selling US dollars aggressively until a policy review later this month.

THE US dollar was stuck at a five-day low on Thursday after Federal Reserve chair Jerome Powell kept the door open for US interest rate cuts, though investors were wary of selling US dollars aggressively until a policy review later this month.

THE US dollar was stuck at a five-day low on Thursday after Federal Reserve chair Jerome Powell kept the door open for US interest rate cuts, though investors were wary of selling US dollars aggressively until a policy review later this month.

President Donald Trump has called on the U.S. Treasury and the Federal Reserve to weaken the U.S. dollar, arguing that American exports are being hurt by other countries’ efforts to devalue their own currencies.

President Donald Trump has called on the U.S. Treasury and the Federal Reserve to weaken the U.S. dollar, arguing that American exports are being hurt by other countries’ efforts to devalue their own currencies.

Mean US Dollar may be weakening soon.

Trump may launch currency war to match China and Europe games.

Psiptek NTA is 0.57. Market value is 0.14~0.15. Still cheap.

Trump suspends new tariffs, U.S. and China to restart trade talks

Trump warns China is ‘ripe’ for new tariffs and suggests Vietnam could be next
Trump also attacks Germany and Japan as he set off for the G20 summit in Osaka

President Donald Trump flew to the G20 summit on Wednesday sounding warnings that China was “ripe” for new tariffs and suggesting that Vietnam, which he called “the single worst abuser of everybody”, could be next.

Trump warns China is ‘ripe’ for new tariffs and suggests Vietnam could be next
Trump also attacks Germany and Japan as he set off for the G20 summit in Osaka

President Donald Trump flew to the G20 summit on Wednesday sounding warnings that China was “ripe” for new tariffs and suggesting that Vietnam, which he called “the single worst abuser of everybody”, could be next.

Trump ‘may start global currency war’ next

WASHINGTON (AFP) – President Donald Trump’s renewed focus on what he calls “unfair” exchange rates could presage a new global battlefield that has the potential to do great damage to the world economy.

If Trump follows this new path, likely with the backing of Commerce Secretary and trade hardliner Wilbur Ross, the United States would be vulnerable to retaliation when the Federal Reserve eventually cuts the benchmark interest rate as Trump has demanded they do.

Central banks use interest rate cuts to spur a sluggish economy, weakening a currency’s value in exchange for boosting exports, which then power economic growth.

Trump ‘may start global currency war’ next

WASHINGTON (AFP) – President Donald Trump’s renewed focus on what he calls “unfair” exchange rates could presage a new global battlefield that has the potential to do great damage to the world economy.

If Trump follows this new path, likely with the backing of Commerce Secretary and trade hardliner Wilbur Ross, the United States would be vulnerable to retaliation when the Federal Reserve eventually cuts the benchmark interest rate as Trump has demanded they do.

Central banks use interest rate cuts to spur a sluggish economy, weakening a currency’s value in exchange for boosting exports, which then power economic growth.

June 25, 2019
Trump ‘may start global currency war’ next

WASHINGTON (AFP) – President Donald Trump’s renewed focus on what he calls “unfair” exchange rates could presage a new global battlefield that has the potential to do great damage to the world economy.

If Trump follows this new path, likely with the backing of Commerce Secretary and trade hardliner Wilbur Ross, the United States would be vulnerable to retaliation when the Federal Reserve eventually cuts the benchmark interest rate as Trump has demanded they do.

Central banks use interest rate cuts to spur a sluggish economy, weakening a currency’s value in exchange for boosting exports, which then power economic growth.

Soon, iPhone will be made in Malaysia.

Malaysia among countries eyed by Apple to move production capacity

The countries being considered include Mexico, India, Vietnam, Indonesia and Malaysia. India and Vietnam are among the favorites for smartphones, Nikkei said, citing sources who did not want to be identified as the discussions are private.
The countries being considered include Mexico, India, Vietnam, Indonesia and Malaysia. India and Vietnam are among the favorites for smartphones, Nikkei said, citing sources who did not want to be identified as the discussions are private.

TOKYO: Apple Inc has asked its major suppliers to assess the cost implications of moving 15%-30% of their production capacity from China to Southeast Asia as it prepares for a restructuring of its supply chain, according to a Nikkei Asian Review report on Wednesday.

Apple's request was a result of the extended Sino-U.S. trade dispute, but a trade resolution will not lead to a change in the company's decision, Nikkei said, citing multiple sources.

ARB公司（ARBB,7181,主板工业产品服务组）获6043万令吉订单，以在沙亚南13区一栋公寓架设物联网（IoT）基建与系统。

根据文告，该公司透过间接独资子公司ARBIOT公司，接获宏毅（PSIPTEK,7145,主板建筑组）子公司的宏毅有限公司的订单，以在一栋13层楼260间公寓和6层楼停车场范围，负责IoT的系统、工程、采购、启用和管理（IoTSEPCM）事务。

ARB公司（ARBB,7181,主板工业产品服务组）获6043万令吉订单，以在沙亚南13区一栋公寓架设物联网（IoT）基建与系统。

根据文告，该公司透过间接独资子公司ARBIOT公司，接获宏毅（PSIPTEK,7145,主板建筑组）子公司的宏毅有限公司的订单，以在一栋13层楼260间公寓和6层楼停车场范围，负责IoT的系统、工程、采购、启用和管理（IoTSEPCM）事务。

Yesterday break 0.07. May reach 0.09~0.10