Asia struggles as US feel-good factor ebbs
Asian stocks closed lower on Friday, hit by losses on Wall Street after US data showing a surprise contraction in a key industrial region pointed to a possibly sharper-than-expected US slowdown, dealers said.
They said this was more than enough to offset any lingering feel-good factor from the US Federal Reserves decision to leave interest rates on hold, with that move now being taken instead as another indicator that all may not be well with the US economy.
A regular Philadelphia Federal Reserve survey fell to minus 0.4 points last month from a positive 18.5 in July, compared with forecasts for 14.4, with Wall Street losing 0.69 percent as a result.
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Cigarette puffers feel the heat in Southeast Asia
Once upon a time cigarette smokers could enjoy themselves throughout Southeast Asia, toking up in bars, restaurants and hotel lobbies without fear of fines or scoldings.
Those carefree days for tobacco puffers in this traditionally smoker-friendly region are arguably going up in smoke.
Malaysia and Thailand, where smoking bans already exist in all air-condititioned restaurants, government offices, airports and other public venues like shopping malls, are now seriously considering making bars and other entertainment venues no-smoking zones.
'Actually the government wanted to sign the law last December,' said Prakit Vathesatogkit, head of Thailand's
Workers Struggles: Asia, Australia and the Pacific
Unofficial strikes by thousands of workers in foreign-owned plants in Vietnam’s export processing zones (EPZ) are continuing. Last week Prime Minister Phan Van Khai, concerned about the impact on investment, instructed the Ministry of Planning and Investment to intervene.
The workers want the government to adjust basic wages in line with inflation and cost of living rises. Workers are furious that the government postponed a 40 percent increase in the basic wage it promised would become effective this month.
Up to December 2005, Vietnam received $8 billion in Foreign Direct Investment, much of it from Taiwanese
Asia shares gain on US jobs data
Asian stocks rose more than 1 per cent on Monday as strong US jobs data late last week buoyed hopes that consumers there would buy more Asian goods, and oil prices dropped further below $60 a barrel.
Gold jumped more than $3 an ounce after dropping on Friday when the dollar surged on stronger-than-expected February US payroll numbers. By 0215 GMT, the dollar was a little off late last week's near five-week high against the yen.
The Nikkei share average was up 1.4 per cent at 16,334.08 at the mid-session, extending last week's 2.9
Good gains in Latin America, Asia
Latin American bonds and Asian equities will give the highest returns in 2006, while US treasury yields are likely to decline, according to Deutsche Bank.
''Treasury bills will still be a good investment choice, but investment in [other] assets will enhance returns on one's portfolio,'' said Marshall Gittler, chief Asian strategist at Deutsche Bank.
Interest-rate hikes by the Federal Reserve have reduced liquidity in the US financial market, resulting in an overpriced corporate bond market.
Meanwhile, the credit standings of Argentina, Brazil and Venezuela have been improving, particularly with regards to the balance of payment
Australia vow to go into Asia with all guns blazing
Australia have vowed to go on the attack in their opening Asian Cup qualifier in Bahrain next week.
The Australians will be without most of their top European-based players, including forwards Harry Kewell and Mark Viduka, because of their Champions League and UEFA Cup commitments.
But assistant coach Johan Neeskens said the absence of leading players would not change Australia's approach to their first Asian Cup qualifier since ditching the Oceania Football Confederation.
"A lot of people overseas don't expect much from this team because all the big stars cannot come because of other
