Asia (except ME & Indian SC)

03 May 2023; MEMO: Police in China's Shanghai province are building a huge surveillance system which is able to alert and notify authorities when foreign journalists travel to Xinjiang province and when Uyghurs venture outside that area.

Back in March this year, authorities in Songjiang District – one of Shanghai's largest districts with over 1.5 million residents – had announced that a local integrator had won a "Big Data" software project for the district's police worth $315,000.

BEIJING, May 3 (Xinhua) -- The entrenched U.S. debt problem has once again drawn global attention, as U.S. Treasury Secretary Janet Yellen recently warned that the U.S. government could default as soon as June 1 if the debt ceiling isn't addressed.

Without timely action by the Congress -- currently at an impasse amid partisan fight, the U.S. government would be unable to pay its bills, which would potentially cripple the U.S. economy and threaten global financial stability.

RISK OF RECESSION DEEPENS

BEIJING, May 2 (APP): Acting Consul General of Pakistan in Guangzhou Sardar Muhammad has visited stalls set up by Pakistani companies to showcase their products at the 133rd China Import and Export Fair also known as Canton Fair in Guangzhou, Guangdong province of China.

The Pakistani companies have set up eight stalls in Phase 3 of the fair which started on Monday and will last till May 5, according to the Pakistan Embassy, Beijing.

SINGAPORE, May 2 (Reuters) - Global shares fell on Tuesday, as caution set in ahead of the Federal Reserve's upcoming policy meeting, while bumper profits at Europe's biggest bank gave financial stocks a boost.

The Australian dollar soared after the central bank stunned markets with a surprise interest-rate hike, while in U.S. markets, short-dated government bond yields shot up after the Treasury Department said it could run out of the cash it needs to pay its bills by early June.

TOKYO (AP) — Asian shares were mixed Tuesday with some markets closed or anticipating holidays and investors showing muted reaction to the latest historic U.S. banking failure.

Japan’s Nikkei 225 edged up 0.2% to 29,175.44 in morning trading. Trading in Tokyo will be closed for Golden Week holidays the rest of the week. Trading was closed in Shanghai for Labor Day.

Australia’s S&P/ASX 200 dipped 0.2% to 7,319.40. South Korea’s Kospi gained 0.8% to 2,522.09. Hong Kong’s Hang Seng was virtually unchanged at 19,885.48.

TAIPEI, Taiwan (AP) — Taiwan’s president told visiting ex-U.S. national security adviser John Bolton on Monday that her country is willing to deepen cooperation with the U.S. and “other like-minded partners” to safeguard peace, as the self-governed island faces increasing military threats from China.

President Tsai Ing-wen also expressed hopes to Bolton, a potential Republican presidential candidate in 2024, for more military and security exchanges and economic cooperation between the two sides, her office said in a statement.

TOKYO (AP) — Japanese Prime Minister Fumio Kishida said Tuesday he is arranging a trip to South Korea for talks with President Yoon Suk Yeol in return for his March visit to Tokyo, aiming to further strengthen their ties before the upcoming Group of Seven summit.

Tokyo and Seoul have been working to repair relations that were strained over wartime history disputes as they deepen three-way security cooperation with Washington in response to growing regional threats from North Korea and China.

BEIJING (AP) — China’s foreign minister called for stability and a crackdown on cross-border criminal activity along the country’s border with Myanmar, during an unusual visit to the volatile region on Tuesday.

The 2,129-kilometer (1,323-mile) border runs through densely forested mountains and has long been notorious for drug smuggling into China from the “Golden Triangle” region where the borders of Laos, Myanmar and Thailand meet.

BEIJING, May 1 (APP): Pakistan Ambassador to China Moin ul Haque has expressed appreciation to China for helping more than 200 Pakistani nationals’ evacuation from Sudan.

During a meeting with Liu Jinsong, director-general of the Department of Asian Affairs of the Foreign Ministry of China, Haque said that China’s assistance demonstrated once again how strong the Pakistan-China friendship is.

MANILA, May 1 (Reuters) - Philippines President Ferdinand Marcos Jr said China has agreed to discuss fishing rights in the South China Sea, as he pushed for a "direct communication line" with Beijing on maritime differences.

China has agreed to "sit down" and talk about Filipinos' fishing rights in the South China Sea, Marcos said, adding he has asked the Philippine Coast Guard and the Department of Foreign Affairs "to put together...a map of these fishing grounds" that will be presented to Beijing.