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Tuesday 20 August 2013

Economic - India, Indonesia and Thailand

India rupee traded at 63.22 to a US dollar.  Lost nearly 16% since May.  This is going to impact its economic

Indonesia, Jakarta Composite Index fell 4.9% on Tuesday.  Its index has fallen 21% from its high in May.  Rupiah traded at about 10,694 to a US dollar.  Down nearly 11% since the start of this year.  Deficit widened to $9.8bn from $5.8bn in the previous 3 months.  Foreign currency reserves fells to $92.67bn in July, from $98.09bn a month earlier.  Deficit hurt investor morale.  Inflation spiked in July, rising 7.4% y/y on the back of June’s fuel price hikes.

Thailand, reported its second quarter GDP contraction by 0.3%, followed a previous fall of 1.7% during the first quarter of 2013.  Thailand had been recording strong economic growth, outspacing other economic in the region, with expansion of more than 6% during 2012.  Like Indonesia, weak export and domestic demand, plus trading business confidence. Investors start pulling out their fund from Asia. 

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