Wednesday, September 9, 2015

Apple is about to hold the biggest event it's had in years — here's what to expect - Lisa Eadicicco

Apple is about to hold the biggest event it's had in years — here's what to expect

Lisa Eadicicco

Sep. 7, 2015, 12:45 PM
38,826
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Marcio Jose Sanchez/APApple CEO Tim Cook introduces Apple Watch, which he is wearing on his wrist, on September 9, 2014, in Cupertino, California.

On September 9, Apple is holding an event at the Bill Graham Civic Auditorium in San Francisco, where it will presumably unveil its new flagship iPhone, as it has done in years past.

It's an announcement we've been expecting for months; Apple has held press events to introduce its newest smartphone to the world every September since 2012.

But what makes this event different is that analysts and industry watchers are expecting the company to talk about more than just its new iPhones and the updated software that's launching for it soon.

Next week, there's a chance we'll hear about a handful of new devices that give us an idea of what Apple's product road map will look like for the rest of the year.

Some of these will likely be incremental updates to Apple's existing products, while others will represent new categories for the company. Apple teased its event with an invitation that reads, "Hey Siri, give us a hint," hinting that its virtual voice-activated assistant will play a big role in what we're going to see on stage.

Based on media reports and predictions from analysts, here's a look at what to expect.

The new iPhone

Unbox TherapyA reportedly leaked photo of the new iPhone 6s' shell alongside the current iPhone (not affiliated with Apple).

Apple's new iPhone will undoubtedly be the headlining announcement at this event. The company is said to be announcing two new iPhones on Wednesday, which may be called the iPhone 6S and iPhone 6S Plus. The 6S will likely have a 4.7-inch screen while the 6S Plus will probably be larger at 5.5 inches like the iPhone 6 Plus.

A pressure-sensitive screen

The biggest improvement will be the addition of Force Touch to the iPhone's screen. This is Apple's pressure-sensitivity technology that the company debuted in the Apple Watch and its new MacBooks. It's probably going to work differently in the iPhone, as 9to5Mac's Mark Gurman recently reported.

Force Touch on the iPhone will be more about shortcuts since its screen is much larger than that of the Apple Watch. Some analysts have expressed skepticism on whether or not Force Touch will be enough of a draw to motivate consumers to upgrade.

A new camera

The other big addition that's supposedly coming to the new iPhone is a much better camera. The main camera is expected to come with a 12-megapixel sensor and a five-element lens, which we reported last month. A 12-megapixel camera would be a big jump from the current iPhone's 8-megapixel camera.

It essentially means the next iPhone will come with a sensor that's capable of taking in more light, which means image quality will get better. Reports have also said the new iPhone will be capable of shooting 4K video. The front-facing camera is getting some improvements too. It'll have a 5-megapixel sensor rather than a 1.2-megapixel sensor, according to the usually accurate KGI Securities analyst Ming-Chi Kuo, and it'll likely have a flash.

Other stuff

Other general additions we may see in the new iPhone include a faster processor and a new rose-gold color option. Apple is also said to be using the same aluminum it uses for the Apple Watch Sport for the casing of its next iPhone, which will make it more durable.

Apple will also probably talk about when its next major software update for the iPhone will be released. Apple unveiled iOS 9 in June, but it usually waits until it reveals the new iPhone to say exactly when the update will launch.

A refreshed Apple TV

Justin Sullivan/Getty Images

Apple hasn't updated the Apple TV in years, but it sounds like the company is going to announce a new model next week. The most important changes will reportedly include a new design, faster components, a revamped remote control that includes a touch pad as well as physical buttons, heavy Siri integration, its own App Store, and support for gaming.

The software is said to look a lot like iOS 9, which means navigating the Apple TV will feel a bit more like using your iPhone. Gurman notes that Siri will be the primary way you interact with the Apple TV. There will reportedly be a button on the new Apple TV remote that launches a microphone for voice commands.

There's also some speculation that the new Apple TV will have a passive-listening feature similar to the Amazon Echo, as Piper Jaffray analyst Gene Munster points out. This means you might be able to activate Siri to execute a command by simply saying "Hey Siri" rather than pressing a button.

Based on reports, it sounds like Apple is going to position its new set-top box as a multimedia entertainment center for your living room rather than as just a streaming device. For instance, one report from Gurman says Apple is going to make sure the box is compatible with Bluetooth gaming controllers. This hints that you'll be able to download games directly from an app store onto the streaming set-top box.

The Apple TV's new capabilities will come at a price. The new device is reportedly going to cost $149, compared to the current model's $69 price.

Siri will be a focus point

Screenshot

As the event's invitation suggests, we're probably going to be hearing a lot about Siri at Apple's event. Siri is expected to be a big part of the Apple TV. Munster, for instance, thinks that you may be able to use it to control any device you have in your home that is running on Apple's HomeKit framework.

Beyond the new Apple TV, Apple has made it clear that Siri is a big part of the iPhone's future as well. One of the most notable additions to come with iOS 9, for instance, is Apple's new version of Siri, which can offer up suggestions about who you want to contact, places nearby that you might want to visit, and more.

We're bound to hear more about how Siri ties into Apple's products in new ways at the event.

Apple's supersized iPad and a new iPad mini

Martin HajekA concept of what the new iPad Pro could look like (not affiliated with Apple).

Here's one way Apple's September event may be different than those in years past: The company may introduce new iPads. Usually, Apple holds a second event in October to take the wraps off its new tablets, but Gurman reports that it's going to happen in September this year.

Specifically, Apple will reportedly unveil its much-rumored iPad Pro and a new version of the iPad mini. The iPad Pro is expected to be Apple's biggest iPad yet — reports have suggested that it will come with a 12.9-inch screen with Force Touch compared to the current iPad's 9.7-inch screen. Apple seems to be tackling the enterprise and productivity-focused crowd, as Gurman reports that Apple is making its own stylus and keyboard for it too.

Although Steve Jobs famously hated the idea of using a stylus with a tablet, Apple has tested multiple prototypes for a stylus designed to work with the iPad, as we reported last month. Apple has also been testing its larger iPad since as far back as 2012, we also reported in July.

If Apple does unveil a larger iPad, we can probably expect to see some of Apple's enterprise partners on stage to showcase how its apps will work on the larger tablet.

The new iPad mini, comparatively, is expected to have a thinner design than the current model and updated internal components.

Some Apple Watch updates

Business Insider / Matt Johnston

We probably won't see a new Apple Watch model just yet, but Gurman reports that we'll see new watch bands for the current watch. These will probably include sports bands in new colors and possibly a new gold casing for the Sport model.

Apple will also likely talk more about its new Apple Watch software: watchOS 2. It brings significant improvements to the watch, including the ability to run apps natively on the device itself. Apple has previously said that the update will launch in the fall, but it hasn't said exactly when. We're expecting to hear an official launch date at the event.

NOW WATCH: Apple might unveil a stylus-powered iPad — something Steve Jobs never wanted on the iPhone

Britain's manufacturing sector just entered a surprise slump for the first time in two years

Mike Bird

REUTERS/Andrew Winning

UK industrial production missed expectations significantly in July, according to figures just out.

Production slumped by 0.4% from June to July. Analysts had expected a 0.1% increase.

That leaves industrial production up by just 0.8% year-on-year, a pretty feeble expansion given that the UK is seeing solid growth.

Manufacturing production figures alone look even worse, with a 0.8% slump on the month in July, leaving production down 0.4% year-on-year.

Capital Economics' Paul Hollingsworth noted that both the weakness of the UK's export markets and the strong pound were weighing on manufacturers, but added that the services sector should keep the economy propped up in the near term: "With the UK set to experience a bout of “good” deflation over the coming months, unemployment low and consumer confidence high, the prospects for the services sector look brighter. Accordingly, we expect the overall economic recovery to maintain a solid pace, albeit an unbalanced one, over the second half of this year."

The EEF, a lobby group for manufacturers, recently cut its growth rate in half. EEF chief economist Lee Hopley said "We’ve seen the future of the Eurozone on the line once again, turbulence and uncertainty over China and Greece and, of course, oil and gas are still a concern. Against this backdrop it’s no surprise that confidence is faltering and UK manufacturers are feeling less optimistic about their growth prospects for next year."

Tuesday, September 8, 2015

Mahathir returns to Malaysia ready for probe over anti-Najib comments

SEP 9, 20152:32 PM

[KUALA LUMPUR] Malaysia's veteran former leader Mahathir Mohamad returned from an overseas trip on Wednesday saying he would comply with any police investigation into comments he made against Prime Minister Najib Razak at an anti-government rally last month.

Mr Mahathir has led calls for Mr Najib's resignation over alleged mismanagement and corruption at indebted state investment fund 1MDB.

The strong stand by Mr Mahathir, and Mr Najib's actions to stifle dissent in the ruling United Malays National Organisation (UMNO) has raised fears of a split in a party that has led every government since Malaysia gained independence from colonial rule in 1957.

The political uncertainty has nagged at investor confidence in an economy whose ringgit currency has lost 19 per cent of its value against the dollar so far this year, and is down to levels unseen since the Asian financial crisis 17 years ago.

The 90-year-old Mr Mahathir surprised many in UMNO, as well as the opposition parties, when he joined tens of thousands of protesters in a two-day rally in Kuala Lumpur, organised by anti-corruption activists last month.

Speaking at the rally, which was declared illegal by city authorities, Mr Mahathir called Mr Najib a corrupt leader and said the people did not want him.

Malaysian police have said those comments warranted investigation, but the country's longest-serving prime minister remained defiant. "(Let them) investigate....that's their job," Mr Mahathir told reporters and dozens of supporters gathered at the airport to receive him on his return from a private trip to Jordan.

When asked about the possibility that he could be arrested for exercising his constitutional rights, Mr Mahathir said: "I don't think they should, but I will comply." Mr Najib is faced with the biggest crisis of his political career following media reports of a mysterious transfer of more than US$600 million into an account under his name.

Mr Najib has denied any wrongdoing and says he did not take any money for personal gain.

But with the scandal refusing to die down, the prime minister has tightened his grip on power through a series of steps to sideline dissenters and muzzle critical media.

REUTERS

Dubai property developers upbeat despite falling prices

SEP 9, 201511:35 AM

[DUBAI] Dubai property developers are still turning out some larger-than-life projects even though prices are heading south again after clawing back a good chunk of their losses in the 2008 crash.

The Gulf emirate's annual Cityscape property fair opened Tuesday with developers foreseeing price declines of about 15 per cent this year, yet confident there would be no return to the days when huge projects were abandoned half finished.

Scale models of new skyscrapers, sprawling villa compounds and leisure centres, including a new indoor ski slope, were rolled out by several companies.

Analysts have signalled a slide in property values, which had recovered significantly in the past two years after shedding half of their value in the 2008 global financial crisis.

Dubai had shaken world markets when it signalled that it might default on huge debts incurred after borrowing extensively to build those ambitious projects.

Thanks to the robust trade, tourism and transport sectors, the economy has since steadied.

"Residential prices have fallen maybe nine or 10 per cent this year," said Craig Plumb, Middle East and North Africa research director for Chicago-based investment management company Jones Lang LaSalle.

"We expect prices to go down further over the rest of the year," saying the decline has "more to do with what is going on globally. Things like (falling) oil prices and the global nervousness with the Chinese economy slowing." "The Dubai residential market is very much affected by what's going on in the rest of the world because a large number of people buying here are investors coming from overseas," said Mr Plumb.

"There is a negative sentiment largely driven by oil prices... It pushed stock prices down and pushed sentiment against the residential market as well." The city-state, one of seven that make up the United Arab Emirates, is the largest and one of very few markets in the region that has opened up to foreign free-hold ownership.

Mr Plumb said prices are likely to fall for 12 more months, while forecasting the drop for this year at 15 per cent.

London-based property consultancy Knight Frank has reportedly put the annual drop to June at over 12 per cent.

Cluttons, another London consultancy, expects villa prices to lose up to seven percent in the second half of the year after dropping five percent in the first six months.

Signs of price softening had begun to show as a result of strict regulations introduced by UAE financial authorities to avoid a new bubble, including mortgage caps.

In particular, they put a cap on mortgage financing at 75 per cent for a first purchase and 60 per cent for a second one. This priced out of the market those who could not make down payments of 25 per cent or more.

As a result, Plumb said, prices are not expected to nosedive as they did in the crisis.

"We are seeing a much more stable market and that is a sign of better regulation."

DEVELOPERS UNDETERRED

Against that background, Cluttons said more than 40,000 units have been announced this year, with in excess of 20,000 to be delivered by 2017.

Ziad Chaar, managing director of Dubai developer DAMAC Properties, said "with 53 billion dirham (US$14 billion) recorded transactions in the first six months... we are sure that this market is a good market." Mr Chaar cited a growing population and healthy economic expansion, including a rising number of tourists and modern infrastructure, in addition to a stable exchange rate and political stability compared with a wider region in turmoil.

"If we did not know that this market is strong, and that there is a very strong demand, we would not have launched these projects," he said, pointing to scale models of various luxurious projects.

One of the projects on display at Cityscape is Meydan One, which includes plans for the world's highest residential tower, at 711m high.

Dubai is already home to the world's tallest building, Burj al-Khalifa, with stands at 829.8 metres.

At foot of Meydan One, a 1.2km indoor ski slope is set to break Dubai's own world record, Ski Dubai, which boasts a 400m slope.

Dubai's Nakheel Properties, developer of Palm Jumeirah and the World Islands, announced that it aims to bring 10,000 units on to the market in the Jebel Ali area.

Savills, another British real estate consultancy, ranks the UAE as the world second-best country for residential investment, after only the United States.

It said Dubai's market has "matured" and that softening prices are expected to pick up again in mid-2016, as the country prepares to host the Expo 2020 trade fair.

AFP

Metro joins Alibaba in Chinese e-commerce partnership

SEP 8, 20154:33 PM

[GENEVA] Metro AG, Germany's largest retailer, is forming an alliance with Alibaba Group Holding Ltd to develop e-commerce on the Chinese online retailer's website.

Metro will sell private-label products to Chinese consumers through Alibaba's site, the companies said Tuesday in a statement. The retailers will also explore ways to cooperate in sourcing and using data.

"Alibaba Group and Metro Group will work together to help more European consumer brands establish fast-track solutions for expanding into the Chinese market," Alibaba Chief Executive Officer Daniel Zhang said in the statement.

Metro has been expanding in Asia and said last month it's hunting further targets after agreeing to buy Classic Fine Foods Group, a Singapore-based supplier of gourmet products, for as much as US$328 million.

BLOOMBERG

Prices on UK high streets fall again, food prices edge up

SEP 9, 20157:35 AM

[LONDON] British shop prices fell as sharply in August as in July but the price of food edged up for a second month in a row, the British Retail Consortium said on Wednesday.

The BRC said shop prices in August were 1.4 per cent lower than a year earlier, matching July's fall.

BRC Director General Helen Dickinson said intense competition among retailers and falling commodity prices were behind the decline in August. "Annual food prices rose for a second month but once again the rise was marginal, by just 0.2 per cent year-on-year, and is likely to be a temporary fluctuation in a longer-term downward trend driven by ongoing competition," she said in a statement.

Prices of non-food goods fell by 2.4 per cent, a slightly sharper decrease than in July.

Britain's broader official measure of inflation, the consumer prices index, showed its first year-on-year fall in prices in over 50 years in April, and rose by just 0.1 per cent in July.

The Bank of England expects inflation to pick up next year and is watching wage growth closely for any signs that inflationary pressures might strengthen.

REUTERS

Tokyo: Nikkei soars 7.71% in biggest one-day jump since 2008 financial crisis

SEP 9, 20152:16 PM

[TOKYO] Tokyo's benchmark index rocketed 7.71 per cent on Wednesday, leading an Asian equities rally in its biggest one-day jump since late 2008 during the global financial crisis when markets were hit by wild volatility.

The Nikkei-225 at the Tokyo Stock Exchange soared 1,343.43 points to 18,770.51 by the close, while the broader Topix index of all first-section shares jumped 6.40 per cent, or 90.66 points, to 1,507.37.

AFP

GE2015: ESM Goh urges country to vote carefully, rebuild consensus after polls

Kenneth Limkenlim@sph.com.sg@KennethLimBT

SEP 9, 20152:07 PM

[SINGAPORE] Emeritus Senior Minister Goh Chok Tong put on the elder statesman hat on the last day of electoral campaigning on Wednesday as he reflected on the importance of choosing the next set of leaders and on maintaining unity after the polls.

"At this stage in the campaign, we want to cool down temperatures, get people to focus on the day after the election," Mr Goh said at a press conference with the People's Action Party's other candidates for the five-member Marine Parade group representation constituency.

Mr Goh, who has been a member of parliament since 1976 and was Prime Minister from 1990 to 2004, shared his experience on past elections.

The most important task after the elections are over is to rebuild national consensus, he said. Mr Goh compared the voting community to a piece of fabric that the different political parties tug at during the elections.

"In election times, who pulls that piece of fabric?...The PAP says it's mine, I've been in charge of this fabric for so many years, it's mine. Other parties will say, it's not yours, I want to have a share of it."

That conflict is healthy for a democracy during elections, but must be toned down after the polls, he said.

"The day after, life goes on. You've got to rebuild consensus," Mr Goh said, adding that it typically takes about a year for the country to move on from the last election.

He said he was heartened that there has been robust contest in the current election, and that the race and religion cards have not been played as campaign strategies. If Singapore's democratic system forces all parties to raise their standards and pick quality standards, that will benefit all.

"Then our system is robust," he said.

But Mr Goh, who could not help throwing in a bit of campaign rhetoric, stopped short of giving Singapore's democratic system a rousing endorsement, saying that his judgment still hinged on the outcome of the elections.

For the system to work, the people must be able to discern "between fact and rhetoric", Mr Goh said.

But his underlying message for the country was to think rationally, and with a long-term view, about selecting its next set of leaders.

On Thursday, when Cooling Off Day rules ban parties campaigning, voters should "cool down the temperature, listen to all the arguments, examine the candidates from all parties, and then decide for yourself."

The election takes place on Friday
.

Greece to look at recapitalising banks after election

SEP 9, 20152:02 PM

[ATHENS] Greece will set up a working group with officials from its "troika" of creditors to look at ways of supporting its fragile banking system after this month's election, the economy ministry said Tuesday.

Greeks will go to the polls for their fifth time in six years on September 20, as the government seeks a fresh mandate to implement reforms demanded under the new 86-billion-euro (S$135.6-billion) international bailout.

"The economy ministry, in collaboration with Greece's central bank, decided Tuesday to establish a working group on the recapitalisation of the banks," the ministry said in a statement.

The group will contain lawyers, experts and representatives from the European Union, European Central Bank and International Monetary Fund - the so-called "troika" of creditors loathed by many Greeks after years of painful austerity.

"The goal is that a framework for the recapitalisation is quickly set up so that the government elected on 20 September may have concrete proposals and it can make the right decisions," added the statement.

Greece brought in capital controls at the end of June in a bid to stave off economic collapse, shutting banks and at one point limiting withdrawals to 60 euros per day, although these have gradually been lifted since.

Close to 25 billion euros has been set aside under the latest aid plan to recapitalise Greece's ailing banks this year, although this amount could change depending on the outcome of stress tests being carried out by the ECB this month.

AFP

IEA seeks China's cooperation on emergency oil stockpile use

SEP 9, 20152:05 PM

[BEIJING] The International Energy Agency, which advises industrialised nations on energy policy, wants to coordinate with China on using oil stockpiles in the event of a crisis, its newly-appointed chief said in Beijing.

"China is the most important player in the global energy market" and should become "a full participant" in the IEA's work to secure supplies, said Fatih Birol, who became the agency's executive director on Sept 1. While the Paris-based organisation's 29 members can collectively tap emergency oil inventories to cover supply disruptions, China's growing buffer is separate from this system.

IEA members are required to store enough crude and refined oil products to cover 90 days of imports. The stockpiles were last tapped in 2011, when Libyan exports were disrupted by a civil war. China accumulated 49 million barrels of crude in emergency inventories in the first half of this year Citigroup Inc estimates. It may fill two new sites with a combined capacity of 50 million barrels in the second half, according to the IEA.

"Simply having oil reserves is not enough," Mr Birol said at the Chinese Academy of Social Sciences, according to a text of his speech. "If they are to be effective in dealing with a global supply disruption, there needs to be some mechanism for their coordinated release. We must make room for China under the IEA umbrella."

The IEA plans to hold a joint emergency-response exercise next year with China, Mr Birol said in an interview. The agency held its first such event in the country in January.

"Only IEA and China cooperation can have a major effect on the markets," Mr Birol said in the interview.

Oil prices near US$50 a barrel are providing "welcome relief" to consumers and the current global surplus "will take time" to disperse amid surprisingly robust supplies from the US and Iraq, Mr Birol said in the speech.

Investment cuts in oil and gas projects worldwide in 2015 will exceed the US$100 billion the agency had projected earlier this year, Mr Birol said. With spending at least 20 per cent lower than last year, there's a risk that further reductions could trigger "another period of market tightening and higher prices down the road," he predicted.

BLOOMBERG

China yuan shock threatens triple whammy for Asian exporters

SEP 9, 20152:08 PM

[BEIJING] Even before Aug 11, China was threatening to snatch market share from other Asian competitors in the key US and European export markets.

Then the outlook for China's Asian competitors worsened as the shock yuan devaluation loosened a dollar link that had kept the unit strong even while the currencies of most Asian competitors had weakened. All of a sudden, prospects for easy competitive gains versus China from currency depreciation had ended.

"China's move signaled loud and clear that there are limits to its willingness to absorb global deflation pressures as other currencies depreciate," said David Loevinger, a former China specialist at the US Treasury who is now an analyst at fund manager TCW Group Inc in Los Angeles. "Some countries are even facing a triple whammy of slowing growth in their biggest export market, an onshoring of the supply chain, and increased competition in other export markets as China moves up the value- added chain." Those risks were highlighted in August data. Tuesday saw China reporting August imports slumped 13.8 per cent while exports dropped 5.5 per cent. A day earlier, Taiwan said exports for the same month had plunged 14.8 per cent, while South Korea last week announced shipments had slumped 14.7 per cent. Economies that will encounter the strongest headwinds are those with the highest export exposure to China including Taiwan, Malaysia, and Singapore; those that compete with it such as Thailand and Vietnam; and countries that are mainly commodity exporters like Indonesia, Mr Loevinger said.

"The export-oriented economic model pursued by Taiwan and Korea has resulted in both countries being vulnerable to swings in the global economy," analysts at BMI Research wrote in a note issued Wednesday. "The growth of regional supply chains has led to the steady integration of both Taiwanese and South Korean economies with the Chinese one. While this resulted in significant benefits during China's period of rapid growth, heavy exposure to China has also led to a sharp decline in export growth as the Chinese economy slows down." Weakening demand in China also means an increased possibility it will export excess industrial capacity and deflationary pressures, according to a note from Credit Suisse Group AG's London-based strategist Richard Kersley. China's manufacturers, which are dramatically upgrading into sectors including autos and robotics, are also more comfortable than competitors in accepting lower returns and thinner margins, he said.

"For Asian nations exporting towards China, it may be a rough time," said Herald Van Der Linde, head of Asia-Pacific equity strategy at HSBC Holdings Plc in Hong Kong. "The Asean countries have been able to gain competitiveness by depreciating their currencies against a relatively strong Chinese currency. That has changed now." As China shifts up the value curve, more products it used to outsource to neighbors are now being made domestically.

China supplied 28.5 per cent of robots in its home market last year, compared to 12.2 per cent in 2012, according to Credit Suisse. The shift is set to continue with the nation's "Made in China 2025" plan aiming to source 40 per cent of key components domestically by 2020 and 70 percent by 2025.

Global trade volumes weakened in the first half, falling half a percent in the second quarter and 1.5 per cent in the first three months, according to the CPB World Trade Monitor.

"Global trade has collapsed," said Stephen Jen, co-founder of London-based hedge fund SLJ Macro Partners LLP. "Fighting for shares of the shrinking pie might become more intense." Still, China's competitiveness is facing headwinds on other fronts as a shrinking workforce and rising wages squeeze domestic manufacturers. This year, nations including Vietnam are outperforming China in the US market.

And while the yuan has weakened since Aug 11, it's unclear how much further policy makers will allow it to slide. The yuan exchange rate is close to stabilising and there's no basis for long-term depreciation, People's Bank of China Governor Zhou Xiaochuan said in a weekend statement following a meeting of Group of 20 central bankers and finance ministers in Ankara, Turkey.

Because Asia's production chain is closely integrated, any boost to China's exports from yuan depreciation will also benefit other regional countries, Zhuang Juzhong, deputy chief economist at the Asian Development Bank in Manila, said in a telephone interview.

Northeast Asia is the most vulnerable to yuan devaluation because China is moving into low- and medium-technology industries including computers and telecommunications where countries like Taiwan and South Korea are competing, said Chua Bin Hak, an economist at Bank of America Merrill Lynch in Singapore. In Southeast Asia, Singapore and Malaysia are the nations with a large share of electronics products in their exports, he said.

"Even when the renminbi was anchored, China was actually eating the lunch of the rest of Asia in the US and Europe markets," Mr Chua said. "A slowdown in trade that started with the commodities cycle risks broadening out to non-commodities."

BLOOMBERG

Wednesday, September 9, 2015