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Blinken in Beijing and Cheap Michelin Food: Sunday Asia Briefing

This week we delve into some mysteries and skullduggery. Why, for example, have some Indonesian stocks been jumping tenfold for no apparent reason? (They’re not even AI-related). How did a Danish telecoms company become so worried about spy drones? What will it take to de-escalate tensions between the US and China? And why has a tiny Swiss village been overrun by Koreans

The big visit. “The current trajectory of relations must be altered” if the US and China are to avoid a military conflict over Taiwan. So says former US Secretary of State Henry Kissinger in an interview with Bloomberg News Editor-in-Chief John Micklethwait. Doing his best to alter that trajectory is Secretary of State Antony Blinken, who is in China this weekend trying to mend some fences

The big swing. At least 83 Indonesian stocks have risen or fallen by 1,000% or more in the past three years. The unexplained gyrations of these “deep fried” shares have spawned a new watch list for troubled stocks.

The big lure. Hong Kong’s stock exchange, no stranger itself to volatility, has other problems to solve. Like how to reboot inflows of mainland money. One strategy, starting Monday is the so-called dual-counter model that will begin to allow investors to buy and sell some of the biggest listings with Chinese yuan.

Tim Cook Opens Apple Store in New Delhi
Tim Cook poses for a selfie with a customer during the opening of Apple’s store in New Delhi.Photographer: Prakash Singh/Bloomberg

The big population. India is at a tipping point, said Apple CEO Tim Cook on a visit to the country in April. With the US trying to reduce reliance on China and Prime Minister Narendra Modi determined to build up his country’s manufacturing sector, is this finally India’s moment?

The big data. China’s commercial banks are set to trim their prime lending rates, following the central bank’s one-year rate cut, but more stimulus may be needed to revive the torpid economy. Japan also needs to keep its foot on the stimulus pedal, with May inflation likely to pull back after a spurt in April. Singapore and Malaysia will report CPI data, while the Philippine and Indonesian central banks are expected to keep rates unchanged.

The big bib. If Singapore’s inflation data worries you, here’s the latest list of Michelin-endorsed eateries to get a gourmet meal in the city for only a few dollars.

The big leak. Here’s a tip for companies trying to preserve trade secrets. Don’t leave your plans on a whiteboard when there’s a drone hovering outside. Read the inside story of how Huawei’s bid to build Denmark’s 5G network turned into a spy hunt.

Jungle Trekking during Survival Skills Program at Green Camp at AYANA
A great escape.Photographer: Courtesy of AYANA

 For those seeking summer respite from the kids, how about dumping them in the jungle? Bali offers week or monthlong destination camps for 2 to 12-year-olds with activities such as forest survival skills and Indonesian cooking, while you chill out at a luxury resort.

Source : Bloomberg