August, 2021

• 16 August

  Japan, South Korea tensions flare on war-end anniversary

  

  Bloomberg South Korean President Moon Jae-in left the door open for talks with Japan in a speech marking his neighbour’s World War II surrender as several Japanese cabinet members visited a war-linked shrine seen by many in Asia as a symbol of its past militarism. In his last Liberation Day speech as president to mark the end of Japan’s 1910-1945 ...

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• 16 August

  Hong Kong has ‘constitutional responsibility’ to implement sanctions law, says Paul Chan

  

  Bloomberg Hong Kong has a “constitutional responsibility” to implement the anti-sanctions law that China has passed to ensure the city’s long-term and steady development, Financial Secretary Paul Chan wrote in his blog on Sunday. Chan joins Hong Kong Chief Executive Carrie Lam in backing local legislation to include Beijiing’s anti-sanctions law in the city’s constitution. The US has interfered with ...

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• 16 August

  South Africa’s Jacob Zuma hospitalised for surgeries

  

  Bloomberg South Africa’s former President Jacob Zuma, currently serving a 15-month jail term for contempt of court, has undergone surgery for an unspecified condition, and is due to have further procedures carried out in coming days. Zuma, whose arrest last month triggered a wave of protests and looting in parts of the country, will remain hospitalised close to his prison, ...

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• 16 August

  China’s port shutdown raises fears of closures worldwide

  

  Bloomberg A Covid outbreak that has partially shut one of the world’s busiest container ports is heightening concerns that the rapid spread of the delta variant will lead to a repeat of last year’s shipping nightmares. The Port of Los Angeles, which saw its volumes dip because of a June Covid outbreak at the Yantian port in China, is bracing ...

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• 16 August

  Asian food trader Olam targets FTSE 100 for IPO

  

  Bloomberg Olam International Ltd, one of Asia’s biggest agricultural commodity traders and suppliers, has a target for its food ingredients unit to become part of the FTSE 100 after its initial public offering in London. The company, a major supplier of cocoa beans and products, green coffee and spices, expects the IPO to be “one of the bigger listings” on ...

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• 16 August

  Malaysia lowers growth forecast on worsening virus outbreak

  

  Bloomberg Malaysia lowered its 2021 economic growth forecast for a second time, as renewed movement restrictions and rising infections hamper the recovery. Gross domestic product is expected to expand 3%-4% this year, Bank Negara Malaysia said, down from an earlier estimate of 6%-7.5% growth. Malaysia’s economy shrank 2% in the second quarter on a seasonally adjusted basis compared to the ...

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• 16 August

  India’s Mumbai to resume train services

  Bloomberg Mumbai will restart commuter train services for fully vaccinated residents from Sunday, a move that could tackle traffic jams that are popping up as Covid-19 cases drop off but also one that risks transmitting the virus across India’s financial hub. Services had been halted since March 2020, making it the longest shutdown for a railway system that has survived ...

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• 16 August

  Exports, investments fuel Taiwan’s best GDP outlook

  

  Bloomberg Taiwan raised its economic growth forecast for this year as an export and investment boom continues and it begins easing virus restrictions, giving a boost to consumption. The government increased its full-year estimate for gross domestic product to 5.88% from a previous forecast of 5.46%. That would be Taiwan’s strongest annual growth since 2010 when the economy bounced back ...

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• 16 August

  Wall Street is most bullish on stocks in almost two decades

  

  Bloomberg It’s been two decades since Wall Street analysts were this upbeat. About 56% of all recommendations on S&P 500 firms are listed as buys, the most since 2002. It’s one more data point that shows the extent of the euphoria sweeping markets after a blockbuster earnings season. While analysts are historically a bullish bunch, they’re turning even more optimistic ...

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• 16 August

  Crypto market retakes $2tr market cap as Bitcoin gains

  

  Bloomberg The total market value of cryptocurrencies rose above $2 trillion again as Bitcoin continued to climb and the likes of Cardano, XRP and Dogecoin advanced as well. Crypto’s market value rose to $2.06 trillion, according to CoinGecko, which tracks more than 8,800 coins. Bitcoin reached as high as $48,152, the highest level since May 16, as it showed staying ...

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