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Experts: ‘Overblown’ recession fears led to Asia-Pacific market correction

Concerns over a potential US recession and a rise in business insolvencies roiled markets across Asia-Pacific this week, but economists suggest these developments reflect a necessary correction as central banks continue to tackle inflation. Japanese stocks suffered the biggest one-day drop since 1987 on August 5, while the Australian stock market’s ASX 200 was pummel following disappointing employment figures from the US last week that led to concerns the data all but confirmed a recession was under way. Other Asian markets, including South Korea, China and Hong Kong also saw significant drops, reflecting broader anxiety about the global economic outlook. But economists said much of this was “noise”. “The worry of a recession is somewhat overblown. Yes, we have seen a softening in labor market conditions, in hiring, but you have to soften, because that’s what the tighter monetary policy is supposed to achieve,” said Song Seng Wun, an economic…...

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07 Aug 2024

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Concord Review is owned and operated by PT Concord Consulting Indonesia (“Provider”). Please read these Terms of Use (the “Terms”) carefully before using Concord Review. By accessing or using Concord Review in any way, including without limitation, browsing the website using any information emailed, text-messaged or on the website, and/or subscribing to the online service; you agree to and are bound by the terms, conditions, policies and notices contained in these “Terms.”

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  1. Country Information Reporting, Incident Tracking, Analysis, and Data Management. The countries that the Provider reports on are at times dynamic; changes can occur suddenly and dramatically. While every care has been taken in preparing accurate and timely information reporting, incident tracking. Analysis and statistical data; due to the wide-ranging nature of incidents and the high likelihood of under-reporting and misinformation, the information and data displayed, including report content, analysis, charting, and incident tracking is based on available collected and collated reported information and data only.
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Note: See Sections 11, 12, 13 and 14.

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  1. Provider may terminate access/subscription if, in its sole judgment, there is evidence that multiple persons have accessed Concord Review using a single your user name and password. Provider’s determination regarding such evidence shall be final and binding. Provider may also terminate access if, in its reasonable discretion, it believes that you have violated any of the provisions of this subscription agreement, Concord Review’s privacy policy or Terms of Use.
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10. OTHER SITES, CONTENT, PRODUCTS AND SERVICES

As a convenience to you, Concord Review may provide links to websites and access to content, products and services of third parties, including without limitation, Provider’s strategic partners and other entities with which connection consists of only a hyperlink (“Linked Sites”). You should refer to the separate terms of use, privacy policies, and other rules posted on Linked Sites before using them. Provider does not author, edit or monitor these Linked Sites, and is not responsible or liable for:

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  2. Third party content accessible through such Linked Sites.
  3. Any loss or damage whatsoever you may incur from dealing with any Linked Site; or
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You bear all risk associated with the use of such Linked Sites, third party services, and correspondence or business dealings, other than Provider, found on or through Concord Review.

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Provider’s goal is to provide complete, accurate, up-to-date information. Unfortunately, it is not possible to ensure that all information is completely free of human or technological errors. Concord Review may contain typographical mistakes, inaccuracies, or omissions, and some information may not be complete or up-to-date. Provider therefore reserves the right to correct any errors, inaccuracies or omissions and to change or update information at any time without prior notice.

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Concord Review includes information that to the best of its knowledge is factual, as well as the views, opinions, and recommendations of individuals and organizations deemed of interest. Provider does not guarantee the accuracy, completeness, or timeliness of any reported fact, or otherwise endorse the views, facts, opinions or recommendations of others.

  1. Moreover, due to the number of sources from which news, information, and interactivity on Concord Review is obtained, and the inherent hazards of electronic distribution; there may be delays, omissions, or inaccuracies in such news and information. Concord Review, Provider and its affiliates, agents, and licensors cannot and do not warrant the accuracy, completeness, current-ness, non-infringement, merchantability, or fitness for a particular purpose of the news and information available through Provider, or Concord Review itself.
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13. LIMITATION OF LIABILITY

In no event shall Provider be liable for any indirect, incidental, special, punitive, increased or consequential damages, loss of profits, revenue, data, goodwill or use, incurred by you or any third party, whether in an action in contract or tort (including negligence and strict liability), arising from your access to or inability to access, or use of, this site or any services provided in connection with this site, even if Concord Review has been advised of the possibility of such damages.

  1. This limitation on liability applies to, but is not limited to, the transmission of any disabling device or viruses which may infect your equipment or system, failure of mechanical or electronic equipment or communication lines, telephone or other interconnect problems, unauthorized access, theft, bodily injury, property damage, operator errors, strikes or other labor problems or any force majeure.
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14. INDEMNITY

You agree to indemnify, defend and hold Provider, its shareholders, directors, officers, co-branders, subsidiaries, parents, employees and agents, harmless from any claim, demand, liability, dispute, damage, cost, expense, or loss, including attorneys’ fees and costs of litigation, arising out of or in any way related to your use of or access to Concord Review, use of the Content (including any use by your employees), your violation of these Terms or violation of any rights of another.

15. LIMITATION ON ACTIONS BROUGHT AGAINST PROVIDER

You agree that any claim or cause of action arising out of the use of Concord Review or these Terms must be filed within one year after such claim or cause of action arose or it shall forever be barred, notwithstanding any statute of limitations or other law to the contrary. Within this period, any failure by Provider to enforce or exercise any provision of these Terms or related right shall not constitute a waiver of that right or provision.

16. DISPUTE RESOLUTION

  1. You agree that any dispute arising out of or relating in any way to the use of Concord Review requires that such claim be resolved exclusively by confidential binding arbitration except that, to the extent you have in any manner violated or threatened to violate Intellectual Property Rights, Provider may seek injunctive or other appropriate relief.
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17. GENERAL

If any provision in these Terms is found by a court or arbitrator to be invalid, the parties agree that the court or arbitrator should give effect to the parties’ intentions as reflected in the provision, and the other provisions of these Terms will remain in full force and effect. Provider’s failure to act with respect to a breach by any visitor using Concord Review does not constitute a waiver of its right to act with respect to subsequent or similar breaches.

  1. These Terms will be governed by and construed in accordance with the laws of Indonesia without regard to its choice of law provisions. In the event of any conflict between foreign laws, rules, and regulations and those of the Republic of Indonesia, the laws, rules and regulations of the Republic of Indonesia will govern.
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For any questions about these Terms, Subscription, or dealings with Concord Review, please contact the Provider through the contact details listed below:
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You acknowledge (a) that you have read and understood these Terms; and (b) that these Terms have the same force and effect as a signed agreement.