The DailyBrief

Friday November 18, 2016

Anger and frustration grows in India as the banknote chaos escalates. In a bid to ease the chaos that has gripped the nation and reduce the huge queues at banks and ATMs, the Indian government on Friday told gas stations to start dispensing cash. About 2,500 state-run gas stations across the country that have State Bank of India card swipe machines will permit people to withdraw up to 2,000 rupees (US$29) a day using their debit cards.

Two days following Donald Trump’s US presidential election victory on November 11, the Shanghai Composite has finally entered the bull market after climbing more than 20% from its January low. Investors are evidently putting more chips behind potential winners from helping to “Make America Great Again,” by i.e. rebuilding public infrastructure in the US. Construction contractors, heavy equipment makers, airlines, and ports were among the biggest gainers.

Former Philippine dictator Ferdinand Marcos was buried with military honors at a heroes’ cemetery in the capital Manila on Friday, almost 30 years after his death in Hawaii, amid protests by human rights groups and opposition politicians. Many in the Philippines were angered by the way Marcos’ family had kept the timing of the burial secret, with Vice President Leni Robredo likening the ceremony to “a thief in the night.”

Malaysian police raided the offices of pro-democracy group Bersih on Friday, a day before a demonstration organized by the group calling for Prime Minister Najib Razak to step down, the group said. Thousands are expected to march in the Malaysian capital on Saturday to demand Najib resign over his involvement in a multibillion dollar scandal at state fund 1Malaysia Development Berhad (1MDB).

What started as early morning rendezvous with a Playstation video game has turned into a real-life car racing career for Hong Kong native Edgar Lau. The 25-year-old will be competing in the Macau Grand Prix this weekend in the Guia GT 2.0 race, marking another step in his rapid ascent in competitive racing since turning professional four years ago.