Sunday, October 2, 2011

Typhoon Bears Down on East Asia

Typhoon Nalgae has killed three people in the Philippines.Now the storm is heading across the South China Sea to Hainan Island,China and Vietnam.
Chinese financial markets are closed all week for the Golden Week holiday.China's non-manufacturing Purchasing Managers Index came in at 59.3,up from 57.6 the previous month,indicating growth in the service sector.
The MSCI Asia-Pacific Index was down 1.75 Monday morning,following the U.S. markets' lead on Friday.It has lost 18% on the year.The euro/dollar fell in early Asian trading,and the dollar/yen rose.
Thai Prime Minister Yingluck Shinawatra was verbally attacked by hackers,who broke into her Twitter account.The hackers questioned her competence to lead.If she can't protect her Twitter account,they asked,how can she protect Thailand?She was sworn in as Thailand's 28th prime minister on August 10.
The Bank of Japan's Tankan business sentiment index showed flat to improved business confidence.
Korean American golfer Kevin Na won the Justin Timberlake Shriners Hospitals for Children Open at TPC Summerlin in Las Vegas.Na shot a fourth round 23 under par 65.It was his first PGA Tour win.
In Tokyo on Monday,it was 66F under scattered clouds.The wind was North at 14 mph,and the humidity was 37%.

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