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China stocks fall for fourth day but declines ease, Hong Kong shares up

Legacy Phuket Gazette

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PHUKET MEDIA WATCH

– World news selected by Gazette editors for Phuket’s international community

China stocks fall for fourth day but declines ease, Hong Kong shares up
Phuket Gazette / Reuters


PHUKET: China stocks fell for a fourth day on Wednesday but losses were more subdued than earlier in the week after Beijing reiterated its determination to stabilise its wild equity markets.

The CSI300 index fell 0.4 percent to 3,796.77 points at the end of the morning session, while the Shanghai Composite Index lost 0.2 percent to 3,655.27 points.

But China CSI300 stock index futures for August fell 1 percent to 3,646.4, or 150.37 points below the current value of the underlying index, pointing to expectations of further losses despite unprecedented market support measures from Beijing in recent weeks.

Jaw-dropping price swings, rapidly fading confidence in the market and concerns about China’s cooling economy will likely deter investors from returning in the near-term even if shares show signs of stabilising, analysts said.

Stocks have slumped some 30 percent since mid-June, after more than doubling in just six months.

After showing some signs of rebounding in recent weeks, major indexes plunged more than 8 percent on Monday in theirm worst single-day drop since 2007.

“The frequent corrections and sharp falls of the stock market recently have made investors more cautious,” said Du Changchun, an analyst at Northeast Securities in Shanghai.

“They are not keen to buy ‘at the bottom’ nowadays like they did before.”

Margin trading volumes have also declined, taking up 11.7 percent of all trading in the A-share market on Monday, compared to 12.6 percent on Friday and 12.9 percent on Thursday. Much of the sharp run-up had been fueled by investors borrowing money to speculate on stocks, many of whom have since been forced to dump their holdings as their losses deepened.

After Monday’s nosedive, China’s securities regulator pledged to buy shares to calm the market and the central bank hinted at more policy easing to boost liquidity. The China Securities and Regulatory Commission (CSRC) also said it was investigating share dumping “incidents”.

In Hong Kong, the Hang Seng index edged up 0.1 percent to 24,515.80 points.

The Hong Kong China Enterprises Index gained 0.2 percent to 11,198.40.

The index measuring price differences between dual-listed companies in Shanghai and Hong Kong stood at 136.47.

A value above 100 indicates Shanghai shares are pricing at a premium to shares in the same company trading in Hong Kong, and vice versa.

The northbound quota for the Hong Kong-Shanghai Stock Connect, currently set at 13 billion yuan, saw net inflows of 0.10 billion yuan.

Total volume of A shares traded in Shanghai was 21.89 billion shares, while Shenzhen volume was 14.97 billion shares.

Total trading volume of companies included in the HSI index was 0.5 billion shares.

($1 = 6.2078 Chinese yuan)

— Phuket Gazette Editors

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Thailand

BBC names Thai protest leader Panusaya in global list of 100 most inspiring women

Maya Taylor

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BBC names Thai protest leader Panusaya in global list of 100 most inspiring women | The Thaiger
PHOTO: Thai PBS World

The BBC has named prominent Thai pro-democracy activist, Panusaya Sithijirawattanakul, aka, “Rung”, as one of the world’s 100 most inspiring and influential women of 2020. The BBC’s “100 Women of 2020” list singles out women around the world who are driving change in challenging times. Panusaya is one of 3 Thai women to be listed.

As the leader of protest group, the United Front of Thammasat and Demonstration, she came to international attention at a Bangkok rally in August, when she read out the group’s controversial 10 point manifesto calling for reform of the Monarchy – a taboo topic never publicly discussed. Her nomination follows the news that a Grammy Music executive has filed a charge of lèse-majesté against her.

The other 2 Thai women to make the list are Kotchakorn Voraakhom and Cindy Sirinya Bishop. Kotchakorn is an urban landscape architect, who promotes the importance of green and public spaces in urban environments. Her aim is to transform vast, sprawling cities into more liveable spaces, while protecting them from the impact of climate change. The BBC describes her as someone who started by prising apart the “cracked pavement” of Bangkok’s cityscape to let new ideas come through.

BBC names Thai protest leader Panusaya in global list of 100 most inspiring women | News by The Thaiger

Cindy Sirinya Bishop is the UN Women Regional Goodwill Ambassador for Gender Equality through Education, Communities and Governments. She is a TV host, actress, and model, known for her campaigns to end violence against women. She came to prominence in 2018, when she created the movement #DontTellMeHowToDress. The campaign was a response to authorities in Thailand telling women they shouldn’t dress provocatively during the Songkran period if they wanted to avoid being sexually assaulted.

Other women shortlisted by the BBC for the 2020 list include Sarah Gilbert, who is leading the research into the Covid-19 vaccine at Oxford University, Sanna Marin, the leader of Finland’s all-female coalition government, and Michelle Yeoh, a Malaysian actress, who the BBC notes is one of very few Asian actresses to enjoy a successful career in the US.

SOURCE: Nation Thailand

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Tourism

No vaccine, no flight – Qantas will require international travellers to be vaccinated

The Thaiger

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No vaccine, no flight – Qantas will require international travellers to be vaccinated | The Thaiger

Qantas, Australia’s national airline, is announcing a new requirement that all international travellers will need to have a vaccination against Covid-19 in a move that could become the norm for the world’s airline industry. Qantas CEO Alan Joyce says the Australian flag carrier would implement the measure once a coronavirus vaccine was made available to the public.

“We are looking at changing our terms and conditions to say for international travellers that we will ask people to have a vaccination before they can get on the aircraft.”

“Whether you need that domestically, we will have to see what happens with Covid-19 in the market but certainly, for international visitors coming out (to Australia) and people leaving the country, we think that is a necessity.”

Joyce says the new rule is likely to become a standard practice by all airlines worldwide as many governments are now working to introduce electronic vaccination passports. Vaccination requirements are already widely used around the world for those wishing to enter certain countries, with many countries wanting travellers show they have been inoculated against yellow fever if they are coming from regions where that disease could be acquired.

The International Air Transport Association has also announced it is in the “final stages” of developing a digital health pass that it says can be used to record Covid-19 tests or vaccinations and will “support the safe reopening of borders.”

“We are bringing this to market in the coming months to also meet the needs of the various travel bubbles and public health corridors that are starting operation.”

Australia’s borders have been closed since March to help stop the spread of the virus, which has taken the lives of more than 1 million people worldwide. The country has even limited its own citizens arrivals from abroad by implementing a weekly quota that has left thousands stranded overseas. Qantas has grounded more than 200 planes and let go 8,500 staff members as it attempts to offset a US 1.9 billion loss.

SOURCE: Bangkok Post

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Malaysia

Technical issues force Singapore aircraft to land on Malaysian highway – VIDEO

Maya Taylor

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Technical issues force Singapore aircraft to land on Malaysian highway – VIDEO | The Thaiger
PHOTO: Twitter

A single-engine prop plane from Singapore has been forced to make an emergency landing on a Malaysian highway due to technical difficulties. A report in Coconuts says the aircraft touched down on the hard shoulder of a highway in Johor, as cars sped past. The 2 pilots on board are believed to be in stable condition.

Chester Voo, CEO of Malaysia’s aviation authority, says an investigation has been launched to determine what went wrong with the plane, which has now been removed.

“Search and rescue teams have completed all required tasks. The investigation will be conducted by the Air Accident Investigation Bureau under the Ministry of Transport, Malaysia.”

It’s understood the plane left Seletar Airport in Singapore and was flying to Melaka when the pilots contacted Air Traffic Control at Johor, requesting permission to land at Senai International Airport, due to technical problems. However, Voo says the aircraft did not make it to the airport before it had to land on the highway.

Meanwhile, Thomas Ong from Premier Aero Singapore, who provide services at Seletar Airport, says his company provided immigration assistance to one of the pilots prior to departure, but doesn’t know what happened to cause the emergency landing.

“We only assisted Dr Yang in immigration formalities with the Seletar Airport Authority for his arrival and departure.”

SOURCE: Coconuts

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