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Asian Stock Markets Sink After Wall Street Rally Fades

An investor walks in front of private stock trading boards in November at a private stock market gallery in Kuala Lumpur, Malaysia. Photo: Yam G-Jun / Associated Press
An investor walks in front of private stock trading boards in November at a private stock market gallery in Kuala Lumpur, Malaysia. Photo: Yam G-Jun / Associated Press

BEIJING — Asian stock markets fell Friday after a post-election Wall Street rally faded and the U.S. Federal Reserve suggested it will keep raising interest rates.

 

Keeping Score

Thailand’s SET on Friday afternoon was trading at 1,670.57, a 0.7 percent drop. The Shanghai Composite Index lost 1.3 percent to 2,614.37 and Tokyo’s Nikkei 225 retreated 0.8 percent to 22,310.16. Hong Kong’s Hang Seng fell 2.4 percent to 25,753.23 and Sydney’s S&P-ASX 200 declined 0.4 percent to 5,903.20. Seoul’s Kospi gave up 0.2 percent to 2,087.32 and India’s Sensex was off 34 points at 35,205.69. New Zealand and Malaysia advanced while Taiwan and other Southeast Asian markets retreated.

 

Wall Street

Coming off the previous day’s surge, stocks slipped as a ninth straight decline in oil prices hurt energy companies. Banks gained after the Federal Reserve left interest rates unchanged. The Standard & Poor’s 500 shed 0.3 percent to 2,806.83 after it jumped 2.1 percent Wednesday. The Dow Jones Industrial Average inched up 10.92 points to 26,191.22. The Nasdaq composite dipped 0.5 percent to 7,530.88.

 

Fed Watch

The U.S. central bank left interest rates unchanged but suggested it plans to keep raising them in response to the strong economy. The Fed has raised its key rate eight times since late 2015 and is expected to do so again in December, with several more increases to follow.

 

Analyst’s Comment

“The sense that the Fed is well on track to continue tightening policy de-railed the post mid-term relief rally in the markets,” said Vishnu Varathan of Mizuho Bank in a report. The Fed cited a stronger job market and omitted mention of tighter financial conditions, “lowering the bar” for a December rate hike, said Varathan.

 

Energy

Benchmark U.S. crude lost 14 cents per barrel to USD$60.53 in electronic trading on the New York Mercantile Exchange. The contract plunged $1 the previous session to $60.67. Brent crude, used to price international oils, gained 3 cents to $70.68 in London. It dropped $1.42 on

 

Currency

The dollar declined to 113.86 yen from Thursday’s 114.08 yen. The euro weakened to $1.1357 from $1.1365.

Story: Joe McDonald

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Militant Shot in Attack on Indonesia Police

Indonesian sailors participate in a mass casualty training scenario as part of the Cooperation Afloat Readiness and Training (CARAT) in 2013 in Jakarta, Indonesia. Photo: Joshua T. Rodriguez / Wikimedia Commons
Indonesian sailors participate in a mass casualty training scenario as part of the Cooperation Afloat Readiness and Training (CARAT) in 2013 in Jakarta, Indonesia. Photo: Joshua T. Rodriguez / Wikimedia Commons

JAKARTA — Indonesian police say a suspected Islamic militant’s attack on a police station in Jakarta has been thwarted by an officer who shot the man in the hand.

Jakarta police spokesman Argo Yuwono says the knife and machete-wielding man repeatedly shouted “God is Great” as he attacked officers at the station in Jakarta’s north early Friday.

One police officer suffered light injuries to his arm and another shot the attacker’s hand, forcing him to drop the machete.

Police are a frequent target of attacks by militants in Indonesia, who see them as representing the power of the secular government that they want replaced by an Islamic state.

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HIV+ Army Sgt. May Have Raped Hundreds: Police

Headquarters of the 3rd Cavalry Division in Khon Kaen province. Photo: 3rd Cavalry Division / Facebook
Headquarters of the 3rd Cavalry Division in Khon Kaen province. Photo: 3rd Cavalry Division / Facebook

KHON KAEN — Hundreds of boys may have been victimized by an HIV-infected soldier now under arrest in Khon Kaen province, according to a police colonel investigating the case.

Col. Athiwit Kamolrat of the anti-trafficking force said Friday they have identified 28 potential victims of 43-year-old Sgt. Maj. Chakkrit Komsing, who so far has been accused of blackmailing and raping dozens of teenage boys.

He said there could be as many as 150 victims in Bangkok and 76 in several northeastern provinces, based on the suspect’s social media records. Athiwit said investigators are working to validate whether the content is authentic, as some of it may have been fabricated.

Read: HIV-Infected Soldier Accused of Raping Scores of Teenagers

Investigators have questioned the 14-year-old victim whose accusation led to Chakkrit’s arrest. Athiwit said a team of child protection experts have begun approaching other identified potential victims.

“We’re worried about them. We believe that all boys in Khon Kaen would’ve learned about the case by now,” he said. “Experts will talk to them one by one to see if they’ve had any relations with the accused or not.”

Police yesterday said Chakkrit, who’s been relieved of duty after eight months assigned to the 3rd Cavalry Division at the Prem Tinsulanonda Military Fort, left a trail of potential evidence on social media of abuse of up to 75 boys aged 13 to 18.

Chakkrit has been charged with six counts including raping minors and blackmail. Athiwit said Chakkrit has denied all allegations.

Maj. Gen. Surachate Hakparn said Chakkrit tested positive for HIV in 2009 and has been receiving treatment since 2015. Surachate said he’s believed to have committed similar crimes in many provinces, including when he was posted to Bangkok.

Both police and the army, through a spokeswoman, said today that they still don’t have information about how long Chakkrit had been enlisted and where else he has been assigned.

According to police, the victim said Chakkrit posed as a young student in fake social media profiles, saying he would give him 5,000 baht a month and buy him a mobile phone if he agreed to have a relationship with him.

The victim told police that Chakkrit used explicit photos and videos they exchanged online for blackmail, forcing him to meet and then raping him multiple times in a car.

Police also said they found a camera installed inside the car, suggesting he might have filmed the assaults to use for further blackmail.

Athiwit said victims and their parents who wish to file charges can now do so at the Nampong Police Station, which is about 40 kilometers from Khon Kaen City.

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After Delay, Democrats to Settle Leadership Question Tonight

Democrat Party leadership election contenders Warong Dechgitvigrom, Abhisit Vejjajiva and Alongkorn Pollabutr pose for photos on Oct. 8, 2018.
Democrat Party leadership election contenders Warong Dechgitvigrom, Abhisit Vejjajiva and Alongkorn Pollabutr pose for photos on Oct. 8, 2018.

Saturday 12:21pm update: Party spokeswoman Kanjana Dhokmai said party members were in a meeting and would announce the results within Saturday.

Update: The party announced Friday evening it plans to announce the results at 10am on Saturday.

BANGKOK — A three-way contest for the Democrat Party’s top post is expected to conclude Friday evening, and party officials say preliminary results could be available as early as tonight.

The race, marked by fierce campaigns and delayed by technical mishaps, is expected to chart the direction of Thailand’s oldest and largest political party. Supporters of the incumbent, Abhisit Vejjajiva, are hoping he will fend off challenges from those seeking a break from the past.

Party members were asked to choose between Abhisit, Warong Dechgitvigrom and Alongkorn Pollabutr.

Promising to usher in “clean politics,” Alongkorn said that if chosen to lead the party, he would not support a prime minister who wasn’t elected to the parliament, a path to power expected to be pursued by junta leader Prayuth Chan-ocha.

Warong said he would oppose working with parties that engage in corruption or insult the monarchy, a seeming rebuke of calls for the party to throw in with the rival Pheu Thai Party to break the military’s grip on power.

Party members in the northeast and south cast votes Monday. Polls in the north, central and capital regions set for Nov. 1 were delayed until Friday due to an eight-day technical problem.

Party officials blamed glitches in their voting machines, which were somehow set to the British time zone where they were made. The system also crashed repeatedly on Monday in some voting districts.

Early results are expected within hours, but an official tally will have to wait till Saturday. The party will convene its assembly on Sunday to endorse the results.

Media pundits and analysts expect a smooth victory for Abhisit – a seasoned politico who in 2008 became the first Democrat prime minister in nearly a decade.

When a reporter asked Alongkorn on Thursday what he felt about the imminent showdown, he sighed before giving a reply.

“I was away from politics for four years,” said Alongkorn, who served in the junta’s reform steering assembly. “And I only had three weeks to campaign.”

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Netflix Announces 2 Original Thai Series

Thai soap opera ‘Blood and Treasure’ available on Netflix

BANGKOK — Thai teens are stranded in a sci-fi island fantasy while a supernatural thriller unfolds in northern Thailand in the first two Thai-language series produced by Netflix.

The Stranded” and “Shimmers” were announced Thursday by Netflix in Singapore as two entries in a line of 17 Asian original productions being brought to the service by the California-based streaming giant.

Directed by Sophon Sakdaphisit, “The Stranded” follows dozens of teens fending for themselves at their elite island school after a devastating tsunami hits the Andaman Sea. Mysterious events occur and the students must find a way off the island – or die.

Sophon is best known for producing Thai horror films such as “Ladda Land,” inspired by a real-life story about a haunted Chiang Mai home, and 2004’s “Shutter,” about the phenomenon of spirit photography.

“The Shimmers” is a joint effort by Wisit Sasanatieng and Sitsiri Mongkolsiri. The horror film is set in a remote school in the north of Thailand where five students are haunted by their past demons.

Release dates for the two shows have yet to be announced.

Netflix originally offered no Thai-language programming when it launched in Thailand in January 2016. Customers outside the United States now account for over half of all memberships, and the company has been investing heavily in producing original content in different markets.

Online stats firm Statista projects the company will have more than 200,000 subscribers in Thailand by the end of 2018. Monthly subscriptions range from 280 baht to 420 baht.

Its biggest competitor, Iflix, launched several months earlier with a raft of programming available in several regional languages. It’s become a crowded market for on-demand, streaming services with the addition of Hollywood TV and Primetime.

Related stories:

Netflix Now Speaks (Some) Thai

Netflix Finally Enters Thailand

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Imelda Marcos Convicted of Graft, Court Orders Her Arrest

US President Lyndon B. Johnson and Philippine First Lady Imelda Marcos dance in 1966 in an unspecified location. Photo: John F. Kennedy Presidential Library and Museum / Wikimedia Commons
US President Lyndon B. Johnson and Philippine First Lady Imelda Marcos dance in 1966 in an unspecified location. Photo: John F. Kennedy Presidential Library and Museum / Wikimedia Commons

MANILA — A Philippine court found former first lady Imelda Marcos guilty of graft and ordered her arrest Friday in a rare conviction among many corruption cases that she’s likely to appeal to avoid jail and losing her seat in Congress.

The special anti-graft Sandiganbayan court sentenced Marcos, 89, to serve 6 to 11 years in prison for each of the seven counts of violating an anti-corruption law when she illegally funneled about USD$200 million to Swiss foundations in the 1970s.

Neither Marcos nor anyone representing her attended Friday’s court hearing and no one issued any reaction on her behalf.

The court disqualified Marcos from holding public office, but she can remain a member of the powerful House of Representatives while appealing the decision.

Imelda Marcos’s husband, former President Ferdinand Marcos, was ousted by an army-backed “people power” revolt in 1986. He died in 1989.

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Chula Alleges Student ‘Impersonator’ Broke 3 Laws

Sakol “Boy” Aiemsaard. Photo: Tariris Nrohtas / Facebook

BANGKOK — Police are weighing criminal charges against a man accused of passing himself off as an elite university student after the school filed a complaint to the authorities.

A Chulalongkorn University legal representative alleged to police Thursday that Sakol “Boy” Aiemsaard broke three laws: impersonating a state university student by wearing its uniform, violating the Computer Crime Act by uploading false information online and document fraud.

Lt. Preecha Khemsiri of Pathum Wan police said Friday that police are investigating the case to see if Sakol may be charged. He first came to public attention in September when he was accused of falsely claiming to be enrolled as a Chula economics student.

He denies all accusations of wrongdoing, explaining that the venom directed against him is the result of a misunderstanding.

Ariya Tongpeerapan, the university legal rep, said that Sakol broke the law by wearing a university uniform in photographs posted to his now-private Instagram account, leading others to believe he was a student and damaging the university’s reputation.

Sakol also allegedly claimed to be an enrolled student when he signed up to join the school’s spirit team. Ariya said that amounted to fraud.

Earlier this month, Sakol told reporters he had never falsely implied that he was a Chula student. He filed counter-complaints against two Burapha University students who went public with allegations Sakol had stolen class funds.

Related stories:

‘Boy Sakol’ Denies Impersonating Student

Chula ‘Student’ Exposed for Years of False Enrollment Claims

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Blaze Reduces 5-Star Samui Villa to Ashes (Video)

KOH SAMUI — A foreigner suffered minor burns Thursday night when a five-star beachfront villa on Koh Samui was destroyed in a blaze.

At about 10pm, fire broke out in a two-story wooden residence inside the Erawan Villa Hotel. It spread quickly due to wind conditions. It took firefighters with eight trucks an hour to extinguish the blaze.

Bophut police said one foreign national suffered minor burns. It was unclear if he was a guest at the hotel.

The villa was damaged irreparably, a loss estimated at 3 million baht.

Police on Friday were investigating the cause of the fire and questioning the hotel’s French owner, identified only as Philippe.

 

 

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Bangladesh Rescues Rohingya Illegally Heading for Malaysia

An ethnic Rohingya holds a banner during protest after Friday prayers outside the Myanmar Embassy in 2016 in Kuala Lumpur, Malaysia. Photo: Vincent Thian / Associated Press
An ethnic Rohingya holds a banner during protest after Friday prayers outside the Myanmar Embassy in 2016 in Kuala Lumpur, Malaysia. Photo: Vincent Thian / Associated Press

COX’S BAZAR, Bangladesh — Police are interrogating six people suspected of human trafficking after Bangladeshi guards separately rescued nearly 50 Rohingya refugees from boats heading for Malaysia through the Bay of Bengal, an official said Thursday.

Pradip Kumar Das, officer-in-charge at Teknaf, said they were questioning the suspects to learn about a network of smugglers who may be luring refugees from sprawling camps ahead of a plan to repatriate them.

He said 33 refugees including nine children were rescued from a fishing boat near the Saint Martins Island on Wednesday while another 14 Rohingya were rescued at Shahporir Island a day before. Six suspected Bangladeshi traffickers were also arrested while the rescued refugees were sent back to their camps in the district, he said.

Das said they were lured by the traffickers with promises of marriages and jobs in Malaysia.

He said the rescued refugees told them they paid money to the traffickers who said they would soon land in Malaysia amid fears that they would have no future in Myanmar’s Rakhine state if they are sent back.

“I paid 10,000 takas (USD$120) to a Rohingya man who told me he will send me to Malaysia. He has chosen a man there for me for my marriage,” 17-year-old Shawkat Ara said.

“I attempted once at night but returned as my boat left before I could reach there recently,” she said.

Bangladesh and Myanmar said recently that the countries want to start repatriation of the refugees in a limited scale from mid-November.

Abul Kalam, a senior Bangladeshi repatriation official in Cox’s Bazar, told The Associated Press that they were preparing to start the repatriation of some 2,660 refugees from 485 families on Nov. 15. But many of the refugees are reluctant to go back, fearing persecution and an uncertain future.

On Tuesday, the United Nations in a statement in Geneva urged Bangladesh and Myanmar to halt the process of sending them back from this month, saying it does not see any guarantee that they would not suffer “the same persecution and horrific violence”.

More than 700,000 Rohingya have fled Myanmar since last year amid an army-led crackdown. Thousands were killed in the violence.

Rohingya Muslims have lived for centuries in Myanmar but they have long been treated as outsiders in a largely Buddhist nation who are denied citizenship and many basic rights. Many in Myanmar ridicule them as “Bengalis” who came from Bangladesh.

The refugees are seeking U.N. protection to return home. The U.N. refugee agency and Bangladesh had earlier finalized a memorandum of understanding that said the repatriation process must be “safe, voluntary and dignified … in line with international standards.”

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Global Animal Welfare Concern Underpins Thai Pig Farm More Awareness

The recent survey from World Animal Protection’s (WAP) reported that animal welfare is among the top factors for Thai consumers to consider when choosing pork products. They prefer a pork from higher welfare source and would like the supermarket to offer higher welfare pork products.

WAP’s survey pointed out the consumers would reward supermarkets selling pork from higher welfare farms, where pigs are allowed to exercise and behave naturally.

“Consumers do not want to see cages, neither barren pens nor painful piglet procedures which they found ‘shocking’ and ‘wrong’. They want to see [animals express their] natural behaviors and experience a life worth living. It is also important to investors. Many of the investors around the world are starting to look at animal welfare as an indicator because they see low animal welfare as a market risk. They also expect companies, like CP Group, to be consistent across their global operations” Dr. Kate Blaszak, Global Farm Animals Advisor, stressed the importance of animal welfare during the meeting with concerned experts at Charoen Pokphand Foods Public Company Limited (CP Foods).

They also expected supermarket’s commitment against low welfare practices. Over 65% of the consumers, who conducted the survey, said they would consider to stop purchasing from supermarket that source pork products from low welfare pig farms.

Moreover, antibiotic drugs in farming process is one of major concerns in Thailand. Eighty-six per cent of Thai consumers surveyed worried about the use of antibiotics in pig production, mostly unaware they are often linked to stressful, barren conditions and painful procedures. The number is among the highest from surveys across the world. WAP added that low welfare farms could lead to more frequent antibiotic use and higher chance to leave antibiotic residue in the meat.

A growing interest in animal welfare among Thai consumers led to a major shift of industry’s practice in the recent years.

CP Foods announced a global policy on animal welfare in April 2018 in line with internationally recognized animal welfare standard. The company said the practice aims to ensure the consumers that all animals are raised with the humane practices.

The key highlight for pig welfare is the company attempt to move toward group pen gestation, which allows mother pigs to move freely and express their natural behaviors. The global transition is expected to be complete within 2028.

To achieve the goal, CP Foods has consulted with experts across the world. During the recent workshop, Dr. Thomas D. Parsons., Associate Professor of Swine Production Medicine, Department of Clinical Studies – New Bolton Center, University of Pennsylvania School of Veterinary Medicine, who was invited as a speaker, said increasing consumers’ concerns on animal welfare, and especially on individual gestation stall has become a global trend. Moving toward a better welfare for pigs is, therefore, inevitable.

“More and More customers are wondering where the food come from and it is important to understand that pigs are raised in ethical and safe way. That is driving a lot of the changes, certainly, gestation. The movement from the gestation stall to pen gestation is a big part of the industry stepping forward to meet consumer demand.” he said.

Dr. Damnoen Chaturavittawong (D.V.M), Senior Vice President of Swine Veterinary Service Department at CP Foods, added that the company has developed toward new approaches to phase out farming processes that may cause pain to animals. For example, using rope test to collect diagnostic sample instead of collecting blood sample and using Needle-free injection techniques to reduce pain and distress.

“Good welfare also help the company to keep animals healthy, therefore, reducing its reliance on antibiotics,” Dr. Damnoen pointed, adding that “Antimicrobials and antibiotics are being used prudently under a strict veterinary supervision to ensure food safety of all pork products from the company. Animal welfare practices are implemented to keep animals healthy and prevent diseases that will further minimize the need for antimicrobial drugs.”

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