Good morning.

We’re celebrating Thanksgiving so it’s just the data and ratings today, no news.

A quick ask

There’s a poll at the bottom of the email and it would be incredibly useful if you could take 30 seconds to let us know how we’re doing. Good, bad, ugly? Just let us know. Thank you 🙏

Commodity and Rate Snapshot

_{As at Nov 28, 07:00ET -Data is illustrative, not for decision-making.}

Financial data via Bloomberg, Freightos and AlphaVantage

Asia Stability Ratings and News Summary

More Unstable

🇦🇫 Afghanistan, 🇦🇲 Armenia, 🇦🇿 Azerbaijan, 🇧🇭 Bahrain, 🇧🇩 Bangladesh, 🇧🇹 Bhutan, 🇰🇭 Cambodia, 🇨🇳 China, 🇹🇱 East Timor, 🇬🇪 Georgia, 🇮🇳 India, 🇮🇩 Indonesia, 🇮🇷 Iran, 🇯🇵 Japan, 🇰🇿 Kazakhstan, 🇰🇬 Kyrgyzstan, 🇱🇦 Laos, 🇲🇾 Malaysia, 🇲🇻 Maldives, 🇲🇲 Myanmar, 🇳🇵 Nepal, 🇰🇵 North Korea, 🇵🇰 Pakistan, 🇵🇭 Philippines, 🇸🇬 Singapore, 🇰🇷 South Korea, 🇱🇰 Sri Lanka, 🇹🇼 Taiwan, 🇹🇯 Tajikistan, 🇹🇭 Thailand, 🇹🇲 Turkmenistan, 🇦🇪 United Arab Emirates, 🇺🇿 Uzbekistan, 🇻🇳 Vietnam

More Stable

No countries were more stable over this period

Unchanged

🇧🇳 Brunei, 🇰🇼 Kuwait, 🇲🇳 Mongolia, 🇴🇲 Oman, 🇶🇦 Qatar

Regional News Summary

Singapore's economy continues to demonstrate resilience, with a reported growth rate of 3.5% and a positive outlook for its financial markets. The government is actively working to diversify its economy, notably through initiatives to revive the fish farming sector and attract foreign investment, exemplified by Morgan Stanley's establishment of a new Southeast Asia headquarters in the city-state [SOURCE - Investing]. Additionally, Singapore's inflation rate has fallen to its lowest since March 2021, providing further optimism for economic stability [SOURCE - CNBC].

However, the political landscape is shifting as former Prime Minister Lee Hsien Loong steps down as the chief of the People's Action Party, handing over leadership to Lawrence Wong. This transition underscores the importance of orderly political handovers in maintaining stability in a rapidly changing world [SOURCE - Channel News Asia].

In contrast, tensions are escalating in Taiwan as China intensifies its military incursions into the Taiwan Strait, prompting Taiwan to bolster its military readiness [SOURCE - Times of India]. The United States is responding by drawing up contingency plans for a potential Taiwan emergency, reaffirming its commitment to regional security [SOURCE - Economic Times].

Meanwhile, Myanmar's humanitarian crisis deepens, with nearly 40% of the 3.4 million displaced individuals being children. The United Nations has flagged the dire situation, exacerbated by ongoing conflict and anti-personnel mine casualties [SOURCE - The Hindu]. As rebel groups gain ground, the military regime faces increasing challenges to its authority [SOURCE - ABC News].

In the realm of international relations, the Philippines is grappling with internal strife as Vice President Sara Duterte's threats against President Ferdinand Marcos Jr. have raised alarms over national security [SOURCE - Bangkok Post]. This political turmoil comes amid a devastating typhoon season, which has further strained the country's resources and disaster preparedness [SOURCE - Scoop].

Protests erupted in Pakistan following allegations of election rigging in the recent polls. Supporters of jailed former Prime Minister Imran Khan's party, Pakistan Tehreek-e-Insaf (PTI), blocked roads in several cities, including Peshawar and Quetta, demanding a recount of votes and accusing authorities of manipulating the results. Protestors reached the center of Islamabad before being turned back by security forces and subsequently dispersed. [SOURCE - BBC]

In economic developments, India is witnessing a surge in its IT-BPM industry, with significant growth and competitiveness recognized by the Department of Finance [SOURCE - Manila Times]. Additionally, India's opposition party is poised for a landslide victory in Maharashtra, signaling a potential shift in the political landscape [SOURCE - WION News].

Oceania Stability Ratings and News Summary

More Unstable

🇦🇺 Australia, 🇰🇮 Kiribati, 🇳🇷 Nauru, 🇵🇬 Papua New Guinea, 🇼🇸 Samoa, 🇸🇧 Solomon Islands, 🇹🇻 Tuvalu, 🇻🇺 Vanuatu

More Stable

No countries were more stable over this period

Unchanged

🇫🇲 Federated States of Micronesia, 🇫🇯 Fiji, 🇲🇭 Marshall Islands, 🇳🇿 New Zealand, 🇵🇼 Palau, 🇹🇴 Tonga

Regional News Summary

India and Australia have solidified a significant air-to-air refuelling pact for their military aircraft, enhancing their strategic ties. This agreement, announced during the Asia-Pacific Security Forum in Laos, is a pivotal aspect of their military cooperation, aimed at increasing the operational flexibility of their armed forces [SOURCE - The Hindu].

Meanwhile, in Australia, CapitaLand Investment is reinforcing its leadership team to drive expansion in the corporate sector, reflecting a broader trend of economic growth in the region [SOURCE - Business Insider]. However, the country faces a dual challenge: while it is on track to meet its ambitious emissions reduction target of 43% by 2030, significant anti-coal activism is gaining momentum, evidenced by a recent protest that forced a ship to abandon its docking plans at a coal terminal [SOURCE - GCaptain].

In New Zealand, safety and economic stability are under scrutiny. A recent stabbing incident at a mall has raised alarms about the country's safety standards, prompting calls for a review of security measures [SOURCE - RNZ News]. Additionally, the economic landscape is shifting, with Air New Zealand reporting lower earnings due to a shortage of planes caused by engine issues [SOURCE - RNZ News]. However, positive changes for international students have emerged, with new post-study work visa regulations making it easier for immigrants to remain in the country [SOURCE - India Today].

Fiji is also navigating complex dynamics, having recently hosted US Secretary of Defense Lloyd Austin to bolster military ties [SOURCE - Defense.gov]. The nation is balancing defense diplomacy with pressing domestic issues, including a troubling rise in violence against women [SOURCE - RNZ].

Climate change remains a critical concern for many Pacific nations. The Marshall Islands are facing severe challenges due to rising sea levels, which threaten their very existence. The government is advocating for urgent global action to address climate change impacts [SOURCE - ReliefWeb]. Similarly, the Solomon Islands are grappling with coastal erosion and environmental degradation, exacerbated by illegal logging practices [SOURCE - Islands Business].

Final Factoid

The US appeared to reach peak Turkey in 1995. We will be doing what we can to turn this around today.

Happy Thanksgiving!

Carpe tomorrow!