Scotiabank's Asia-Pacific Presence

Scotiabank has been in the Asia-Pacific for 50 years,according to Rod Reynolds,President of Asia-Pacific and Middle East for Scotiabank.We have been in China for 30 years and have three branches there.We are focused on organic growth, but have a 19% stake in the Bank of Xi'an,as well as a stake in China Everbright bank.We are really encouraged by reforms that will increase the opportunity for Chinese companies to grow.We are well-positioned in China.
The company also has a Bank of Beijing/Scotia Asset Management joint venture.*
The ASEAN countries are a particular focus for us:Singapore,Malaysia,Vietnam and Thailand.All of our 700 Thai branches are open despite the recent unrest.We have an active business continuity plan in place.We have a very diverse asset list in Thailand.The country's been remarkably resilient to such events.We are growing rapidly in Thailand,at a rate of 20% per annum.
Thai protestors have been blockading intersections in Bangkok,demanding the resignation of Prime Minister Yingluck Shinawatra and an unelected council to oversee reforms.*
Scotiabank,the largest overseas bank in Canada,is now focused on integrating the acquisitions we made during the global financial crisis,but open to opportunities that may arise,Mr.Reynolds said.
Scotiabank(BNS)

Private Bank Views-plus Middle East Moment

This is a quiet period,according to Mark Matthews,Head of Research for Asia at Bank Julius Baer;September will be D-Day.The MSCI World Index is up 10% this year;the US is up 14%,overshadowed by all this volatility.The markets will go down if Federal Reserve Chairman Ben Bernanke doesn't express some kind of positive policy action.It's unclear how the Fed makes decisions.
The US is not doing very badly.China's probably the big problem in the world right now.It's slowing down in a way the leaders are comfortable with.
I like the quality US blue chips;quality high yield bonds;Southeast Asian equities such as those from Thailand and the Philippines.
The Julius Baer Group says it is the leading Swiss private banking group,serving sophisticated private clients,family offices and external asset managers from all over the globe.With its headquarters in Zurich,it has more than 40 offices in over 20 countries.The group was founded in 1890.
Middle East Moment:Any Middle East military action will push oil prices significantly higher,says Helma Croft,a geopolitical strategist at Barclays Capital.Drought and its higher food prices will hurt Middle East fiscal positions.None of these governments can afford to put off subsidies to their people.
Barclays(BCS)

Indonesia and East Asia

Indonesia's bonds are selling well,based on the country's economic growth and market access.Its longer term bonds won't be affected even if interest rates are raised.Q2 growth was 6.2,up from 5.7.They're optimistic of reaching 6.3% in 2011.The main driver of August inflation was electricity rates.They're confident of about 5% inflation by maintaining food stocks and so on.
They think inflation is manageable,once food prices can be stabilized.Indonesia favors growth over inflation worries.They continue to see Asia as the growth market:China,Korea and other ASEAN neighbors and India-also Russia and the Middle East as new markets.The East Asia region,including Australia and New Zealand,is growing together.It's a complementary growth pattern based on agreements,Indonesia's trade minister,Mari Pangesta,pointed out.