Asian stocks extend gains for fouth day on Fed rate optimism |
- Asian stocks extend gains for fouth day on Fed rate optimism
- Asian stocks rise with ringgit, crude oil and corn decline
- Pentagon: ‘Far fewer’ Yazidi refugees on Mount Sinjar, evacuation ‘less likely’
- Rodgers confident Reds will thrive without Suarez
- Selangor MB crisis: Sole PKR exco says will toe party line
- Meet Aloft hotel’s robot Butler A.L.O. (VIDEO)
| Asian stocks extend gains for fouth day on Fed rate optimism Posted: 13 Aug 2014 05:59 PM PDT
The MSCI Asia Pacific Index added 0.2 per cent to 147.49 as of 9:02 am in Tokyo after rising 2.2 per cent the past three days. A drop in China's credit expansion and an unexpected slowdown in investment spending added to speculation that policy makers will expand stimulus in the world's second-biggest economy. "Even though the Fed is changing the way they talk about rates, we are still far away from seeing higher interest rates," said Donald Williams, Sydney-based chief investment officer at Platypus Asset Management Ltd, which oversees about US$1.5 billion (RM4.7 billion). "As long as rates stay low, which could be still a couple of years, equities will remain well bid." Futures on the Standard & Poor's 500 Index were little changed today after the measure rose 0.7 per cent yesterday. Retail sales were little changed in July, the worst performance in six months, as demand for cars slowed and tepid wage growth restrained US consumers. The slowdown in purchases followed a 0.2 per cent advance in June, the Commerce Department reported yesterday in Washington. Fed Chair Janet Yellen has said officials will keep the central bank's benchmark interest rate low for a "considerable time" after its bond buying ends. Regional gauges Japan's Topix index rose 0.4 per cent and South Korea's Kospi index gained 0.1 per cent. Australia's S&P/ASX 200 Index was little changed, while New Zealand's NZX 50 Index added 0.1 per cent. Markets in Hong Kong and China are yet to open. Futures on Hong Kong's Hang Seng Index and contracts on the Hang Seng China Enterprises Index added 0.4 per cent in their most recent trading session. The Bloomberg China-US Index of Chinese stocks traded in the US jumped 1.4 per cent yesterday. Chinese stocks closed higher yesterday on speculation the government will take steps to support its 7.5 per cent expansion goal, after initially falling when the People's Bank of China reported the lowest level for its broad financing measure since 2008. Barclays Plc is forecasting two second-half interest-rate cuts, while Australia & New Zealand Banking Group Ltd said a reduction in Chinese banks' reserve requirements is imminent. The Asia-Pacific gauge traded at 13.5 times estimated earnings as of yesterday compared with 16.3 for the S&P 500 and 15 for the Stoxx Europe 600 Index, according to data compiled by Bloomberg. — Bloomberg  |
| Asian stocks rise with ringgit, crude oil and corn decline Posted: 13 Aug 2014 05:50 PM PDT
The MSCI Pacific Index added 0.2 per cent by 9.25am in Tokyo, set for the highest close since August 4 as Japan's Topix index climbed 0.5 per cent amid a weaker yen. Standard & Poor's 500 Index futures were little changed after the gauge resumed gains in the US The Malaysian and Thai currencies advanced as the Korean won lost 0.1 per cent. Oil in London and New York dropped at least 0.2 per cent, as corn snapped a three-day gain. Flat retail sales data in the US yesterday soothed concern the timeline for rate increases could be brought forward, while Barclays Plc to Australia & New Zealand Banking Group Ltd predicted China will act to support its economy after credit expansion plunged in July. South Korea is expected to cut its key rate today for the first time in more than a year, while India reports on wholesale prices, an inflation indicator. The euro area will report on second-quarter economic growth. "Even though the Fed is changing the way they talk about rates, we are still far away from seeing higher interest rates," Donald Williams, chief investment officer at Platypus Asset Management Ltd, which oversees about A$1.6 billion (RM4.7 billion), said by phone from Sydney. " As long as rates stay low, which could be still a couple of years, equities will remain well bid." Australia's S&P/ASX 200 Index increased 0.2 per cent after slipping 0.3 per cent yesterday and the Kospi index in Seoul rose 0.3 per cent in a fourth straight day of gains. — Bloomberg |
| Pentagon: ‘Far fewer’ Yazidi refugees on Mount Sinjar, evacuation ‘less likely’ Posted: 13 Aug 2014 05:44 PM PDT
"Based on this assessment, the interagency has determined that an evacuation mission is far less likely," Pentagon press secretary Rear Admiral John Kirby said in a statement after US troops were flown onto the mountain to see the refugees' plight firsthand. The UN refugee agency has said tens of thousands of civilians, many of them members of the Yazidi minority, remain trapped on the mountain by jihadists from the so-called Islamic State (ISIL), which has overrun large swaths of Iraq and Syria in a lightning and brutal offensive. Kirby stressed that the US troops who saw for themselves the civilians stranded on the mountain did not engage in any combat. Last week, President Barack Obama authorised air strikes to protect Yazidi refugees and US personnel in Arbil, the capital of Iraq's autonomous Kurdish region, but he too has insisted that US "combat troops" will not return to war in the unstable nation. "The team, which consisted of less than 20 personnel, did not engage in combat operations, and all personnel have returned safely to Arbil by military air," Kirby said of Wednesday's assessment. "The team has assessed that there are far fewer Yazidis on Mount Sinjar than previously feared, in part because of the success of humanitarian air drops, air strikes on ISIL targets, the efforts of the Peshmerga and the ability of thousands of Yazidis to evacuate from the mountain each night over the last several days. "The Yazidis who remain are in better condition than previously believed and continue to have access to the food and water that we have dropped." ― AFP |
| Rodgers confident Reds will thrive without Suarez Posted: 13 Aug 2014 05:41 PM PDT
But by the time the Liverpool manager arrived home later that month his sunlit strolls around Central Park must have seemed a world away as he confronted the nightmare scenario of another Luis Suarez meltdown. Suarez had already caused Rodgers numerous sleepless nights after his infamous bite on Chelsea's Branislav Ivanovic in 2013 and subsequent failed attempt to engineer a move to Arsenal. And now just 12 months later, Suarez had once again provoked outrage across the globe by reprising his vampire act with another bite, this time on Italy's Giorgio Chiellini while playing for Uruguay in the World Cup. Rodgers had remained broadly supportive of the 27-year-old during his previous misdemeanours. But now he could sense the tide of public opinion, even among the Suarez's adoring fans on the Kop, was beginning to turn against the repeat offender. When Suarez was hit with a four-month ban as a result of the Chiellini incident, Rodgers decided enough was enough and he gratefully accepted Barcelona's £75 million (RM399 million) bid for the troubled striker. News of Suarez's sale was greeted with equanimity on Merseyside, where long-serving supporters recall how Liverpool thrived in the past despite the departures of seemingly irreplaceable forwards Kevin Keegan and Ian Rush. Others outside the Anfield bubble reacted rather differently, figuring that the loss of a player who was the team's driving force last season, not just with his 31 goals but also his ferocious desire for success, would be too much to overcome. With Liverpool's heartbreaking failure to win the title from a strong position also fresh in the memory, Rodgers' side have been widely tipped to drop out of the Premier League's top four this season, with their bitter rivals Manchester United expected to take their place. But Rodgers refused to panic and during that Stateside vacation he was already formulating a plan to balance the demands of challenging for the title while also maintaining their place in the Champions League. Even when Liverpool surged through an 11-match winning run that carried them within touching of the title, Rodgers was painfully aware that his squad lacked strength in depth and needed a world-class centre-back to set the tone in a defence that leaked 51 league goals. So, bolstered by the Suarez fee, Rodgers embarked on the biggest pre-season spending spree in Anfield history, with around £90 million splashed out to secure the services of Rickie Lambert, Emre Can, Adam Lallana, Lazar Markovic, Dejan Lovren, Divock Origi and Javier Manquillo. None are expected to prove a direct replacement for Suarez, with towering England striker Lambert offering a more physical alternative as a partner for Daniel Sturridge. Rodgers believes Serbia winger Markovic and England playmaker Lallana, when he returns from injury, will increase the supply lines for Sturridge, while £20 million Croatia centre-back Lovren is billed as the man to solve the defensive wobbles. For life without Suarez to prove profitable, Liverpool also need one last push from ageing captain Steven Gerrard and further improvements from teenage winger Raheem Sterling. Never short of confidence in himself or his team, Rodgers expects exactly that. "I wasn't lying on a sun lounger over the summer crying and fretting over the fact that we lost the league," Rodgers said. "We proved last season that we can handle the pressure of a title run-in. We just didn't get the breaks when we needed them most. "What that experience has done with this team is it has made us even more unified and stronger to be more successful in the future. "Last season was a great step forward and now we must believe that we can go one better. "There is only an excitement and a belief inside the club that we can challenge again for the title." — AFP |
| Selangor MB crisis: Sole PKR exco says will toe party line Posted: 13 Aug 2014 05:38 PM PDT
Khalid on Monday spared Rodziah in his clearout of PKR and DAP excos for refusing to support him as mentri besar, saying he will decide her fate after determining her allegiance upon her return from Bangkok, Thailand. She arrived home last night. "I wish to clarify my position in the context and latest developments of the Selangor administration. "In this context, I will abide by PKR's decision, of which I am a member. My compliance, I believe, is to fulfil the trust in preserving the voters' mandate in Election 2013 for Pakatan Rakyat to govern Selangor," Rodziah said in a brief statement issued by her party. On Monday, Khalid announced the sackings of the PKR and DAP representatives for allegedly undermining his position as Selangor mentri besar. He is now running the Selangor administration with the support of four PAS excos, the minimum number he is required to have according to the state constitution. PKR's disciplinary committee expelled Khalid from the party last week for his open defiance of the party's decision that he must step down to make way for PKR president Datuk Seri Dr Wan Azizah Wan Ismail. The embattled mentri besar's sacking leaves PR in a precarious state in Selangor, and adds to worries that snap polls may have to be called to ward off a stalemate. Without Khalid, PKR's share of the 56-seat Selangor state assembly drops to 13 from 14 while allies DAP and PAS have 15 seats each. Umno, the opposition in the state, holds 12. |
| Meet Aloft hotel’s robot Butler A.L.O. (VIDEO) Posted: 13 Aug 2014 05:37 PM PDT NEW YORK, Aug 14 — Not far from Apple's corporate campus, a major hotel brand has hired what it calls the industry's first robotic butler, described as Wall-E, Rosie and R2-D2 all rolled into one. Aloft Hotels, part of the Starwood Hotels & Resorts group, will on August 20 be introducing its latest hire, A.L.O., a roving cyber 'Botlr' that acknowledges requests with a few peppy beeps and flashing lights. Its main role will be to deliver amenities to guest rooms, says Starwood, in the aim of freeing up the hotel staff — the human variety — to carry out other tasks. But it's also a marketing strategy aimed at appealing to the brand's main target demographic — tech-savvy millennial travellers — who are invited to 'tip' the robot bellhop with tweets that complement its service. "As soon as A.L.O. entered the room, we knew it was what we were looking for," said global brand leader Brian McGuinness in a cheeky statement. "A.L.O. has the work ethic of Wall-E, the humour of Rosie from The Jetsons and reminds me of my favourite childhood robot, R2-D2." Despite being a robot, it may be hard to resist the urge to give it a friendly pet with its chirpy beeps, little black bow tie and requests for approbation. It's only fitting that the droid butler be introduced at the brand's Cupertino location, steps from the brain centre of tech giant Apple. The hotel is outfitted heavily with Apple products: All 123 rooms are equipped with Apple TVs that can sync with guests' iOS devices and personal iTunes accounts. Botlr is one of several tech-heavy services at Aloft. For the growing segment of independent or 'invisible' travellers, a Cool Concierge is also available, allowing guests to look up information like directions and flight status on a tablet-based computer system without the help of hotel staff — yet another move signalling the shift towards increasingly automated services in the hotel industry. — AFP-Relaxnews
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