NNA Asia top stories Monday, Nov. 5
TOKYO, NNA – The following are the top stories from NNA Asia for Monday, Nov. 5.
Thai Q3 exports slow to 3% y/y from Q2 10.6% on U.S.-China trade row
BANGKOK. NNA – Thailand’s exports slowed in the third quarter of 2018 due to sluggish shipments to China and the United States, its two largest markets, according to customs’ data compiled by NNA.
As the trade dispute between the world’s two largest economies lingers, Thai exports to the world rose just 3.0 percent from a year earlier to $63.9 billion in the July-September period, with the pace of increase decelerating from 10.6 percent in April-June.
Hong Kong 2018 average wage hikes 3.2%, lowest in 8 years
HONG KONG, NNA – Average 2018 wage hikes in Hong Kong grew the slowest in eight years as companies are cautious about the outlook in light of trade disputes, U.S. interest-rate rises and a slip in the local property market.
The average wage increase was 3.2 percent during the first nine months of the year, the lowest since 2010, when it rose only 1.9 percent in the aftermath of the global financial crisis, according to the Hong Kong Institute of Human Resource Management.
Myanmar, Thailand to upgrade road from border to Dawei economic zone
YANGON, NNA – Myanmar and Thailand have agreed to pursue an upgrade of the trunk road from the border to the Dawei Special Economic Zone, in hopes of revising a shelved plan to develop Myanmar’s southern port city, allowing easy access to the Indian Ocean for Thai exports.
The two governments signed a memorandum of understanding last week to conduct an eight-month survey on upgrading the existing road to a two-lane highway, which will be partly financed by Thailand, according to local press reports.