Download Rise in Islamic banking assets

"How easy to be amiable in the midst of happiness and success."
Anne Sophie Swetchine
MALAYSIA
Global Market Snap Shot
17 August 2016
Rise in Islamic banking assets
(NEW STRAITS TIMES) Islamic banking assets in Malaysia now stand at more than a quarter, or 27 per cent, of the
total banking system, surpassing the targeted 20 per cent under Bank Negara Malaysia’s financial sector master plan.
According to a recent Thomson Reuters report on Islamic finance assets, Malaysia, Saudi Arabia and Iran hold almost
65 per cent of global Islamic assets last year.
Equities
REGIONAL
DJIA
Singapore non-oil exports sink 10.6% in July, much worse than expected
(Straits Times) Singapore's non-oil domestic exports (NODX) slid sharply in July, much worse than expected, as
global demand showed no signs of recovering. NODX last month sank 10.6 per cent from a year earlier - sharper than
the 2.5 per cent decline expected by economists in a Reuters poll and the 2.4 per cent contraction in June. Shipments
fell to all of Singapore's top 10 markets, except the EU 28, with the worst hit being China, the US and Indonesia.
Indonesia: President Unveils 2017 State Budget, Sets Economic Growth Target at 5.3%
(Jakarta Globe) President Joko "Jokowi" Widodo revealed his government's proposed 2017 state budget during a
plenary session at the House of Representatives in Jakarta on Tuesday (16/08). The budget assumes that the rupiah
will appreciate in value next year and that Indonesia's economy will grow at 5.3 percent, compared to the 5.2 percent
growth target in the 2016 revised state budget. "The global economy is expected to improve [next year], although we
have to work hard to deal with uncertainties," Jokowi said in his speech.
(All data as per previous day's closing)
Major Indices
Points
% change
18,636.05
-0.45
S&P 500
2,190.15
-0.55
EuroStoxx50
3,046.65
-1.00
16,869.56
-1.62
3,125.20
-0.49
22,932.51
-0.75
Straits Times
2,867.21
-0.29
FBM KLCI
1,690.33
0.57
Jakarta Comp
5,320.56
0.96
Bangkok Set
1,549.11
-0.75
Nikkei
Shanghai Comp
Hang Seng
Exchange Rates / Forex
MYR
Thailand: Prayut touts ‘value-added’ economic model
CNY
0.6030
(National Multimedia) Prime Minister Prayut Chan-o-cha said yesterday that Thailand would upgrade to a value-based
economy through its 20-year strategic plan (2017-36) and 12th National Economic and Social Development Plan
(2017-21). Thailand's current economic model - Thailand 3.0 - focuses on heavy manufacturing. The earlier models
were 1.0 for agriculture and 2.0 for light manufacturing. The Thai government will increase R&D investment to 1 per
cent of gross domestic product, while investing in digital infrastructure, he said.
THB
11.5094
Cambodia: Listed firms lax on fiscal reports
(Phnom Penh Post) Six weeks since the close of the fiscal first half, none of the four listed companies on Cambodia’s
stock exchange have issued their required half-year financial statements, and one firm has not disclosed any financial
data since 2014 – casting doubts on the tiny bourse’s commitment to enforcing basic disclosure rules.State utility
Phnom Penh Water Supply Authority (PPWSA) and garment manufacturer Grand Twins International (GTI) have
routinely delayed issuance of financial statements by months, while recently listed state port operator Phnom Penh
Autonomous Port (PPAP) looks set to follow their lead.
Goldman Sachs: Look at exports and commodities to judge China's economic transition
(CNBC) "While the exports share of gross domestic product (GDP) in China today is similar to the level seen in the
mid-1990s, the types of goods exported by China have changed significantly" Goldman explained. Footwear, clothing,
and toys were the top five categories of Chinese exports back in 1995, while telecom equipment, automatic data
processing machines, cathode valves, furniture, and jewelry became the top five exports in 2014, GS noted. "This is
evidence that China has been moving up the export value chain." Appetite for 'new economy' commodities, such as
soybeans, nickel, and gasoline, have risen in recent years, versus 'old economy' resources like wheat, steel, and
diesel that have been relatively stable, the note said.
GLOBAL
U.S. inflation tame despite economy gaining momentum
(Resuters) U.S. consumer prices were unchanged in July but a rise in industrial output and home building suggested a
pickup in economic activity that could allow the Federal Reserve to raise interest rates this year. Tuesday's economic
reports came as influential New York Fed President William Dudley said the U.S. central bank could raise interest
rates next month, citing a tightening labor market that he said was starting to spur faster wage growth.
UK inflation hits 20-month high at 0.6% – as it happened
(The Guardian) Britain’s inflation rate has hit its highest level since November 2014, at 0.6%, thanks to a rise in
alcohol, transport and hotel costs. The Office for National Statistics says there is no immediate impact from Brexit, but
today’s data also shows that firms are being hit by higher input prices, due to the weaker pound. That is likely to push
inflation higher in the month ahead.
IDR
0.0305
SGD
2.9805
HKD
0.5139
AUD
3.0803
GBP
5.1785
JPY
3.9723
EUR
4.4976
USD
3.9845
Commodities
Price (USD)
% change
Brent (Crude Oil)
48.20
-0.23
WTI (Crude Oil)
45.74
1.84
Gold (Spot)
1,346.24
0.06
Silver (Spot)
19.79
0.22
Source: Bloomberg
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