Singapore Government Bond 10Y

This week in the ASEAN region saw several key developments. Bank Indonesia Governor Perry Warjiyo abruptly resigned, weakening the rupiah and raising investor concerns over central bank independence. Meanwhile, the Monetary Authority of Singapore tightened monetary policy for the second consecutive time to counter inflation risks from surging oil prices. Indonesia's stock market recovered into bull territory after the JCI index rebounded more than 10% from its June low. Philippine commercial banks increased loan-loss provisions by 32% to 111.3 billion pesos, the highest in 18 years, to cushion against risks from the Middle East conflict. Vietnam is accelerating the upgrade of its diamond market with a digital tracking system after busting a network smuggling over 28,000 diamonds worth 10.6 million US dollars. Malaysia disclosed that Myanmar has agreed to take back 5,000 Rohingya refugees amid regional tensions. PSG Corporation signed an agreement with a Lao state power enterprise to study converting existing hydropower plants into pumped-storage systems. The Philippines is preparing to adjust bond pricing criteria to global standards for inclusion in the JPMorgan index by 2027. Amata VN sold its entire stake in Amata Township Long Thanh for 632 million baht. Singapore saw layoffs surge 17% in the second quarter to 4,500, the highest since COVID-19. And Myanmar's military junta leader Min Aung Hlaing confirmed no rush to reconcile with ASEAN, while announcing a five-year economic development plan aiming to double GDP.