The S&P 500 and Nasdaq Composite indexes rose for a fourth day, while Boeing Co. weighed on the Dow Jones Industrial Average after regulators signaled they’ll retain control over the aircraft maker’s grounded 737 Max jet. Data on U.S. gross domestic product and claims for unemployment beat analysts’ expectations. The Stoxx Europe 600 benchmark rose to within 1% of its record close, with 14 of 19 sector groups advancing.

“There’s a lot to be thankful for in today’s GDP revision — namely the strength of the consumer,” said Mike Loewengart, vice president of investment strategy at E*Trade Financial Corp. “If our economy is one thing, it’s resilient.”

Equities climbed across Asia except in China, where data showed the economy slowing further, as investors continue to monitor developments on trade. President Donald Trump declared Tuesday that talks on the first phase of a deal were nearly done after negotiators from both sides spoke by telephone.

Investors are searching among trade developments and the final earnings-season reports for reasons to stay positive on stocks, and as a global benchmark of developing and emerging-market equities hovers just below its all-time record.

“It’s been the same story for the past four to six weeks,” said Juha Seppala, director of macro asset allocation strategy for UBS Asset Management. “You have cloudy skies lifting a little bit and the sun is showing up, not fully but there are positive signs.”

Elsewhere, a a benchmark stock index in Australia ended the day close to a record high after the country’s central bank laid out a road map for interest-rate cuts and quantitative easing. Bitcoin turned higher after 10 straight sessions of declines, the worst streak on record.

Here are some key events coming up this week:

The U.S. celebrates Thanksgiving on Thursday, when equity and bond markets will be shut.

Euro area inflation for October is due Friday.

The Bank of Korea sets policy on Friday.

These are the main moves in markets:

Stocks

-The S&P 500 index climbed 0.4% to 3,153.11 as of 2:56 p.m. New York time, the highest on record, it closed at 3,153.63, up 0.42 %.

-The Dow Jones Industrial Average gained 0.2% to 28,162.21, the highest on record.

-The Nasdaq Composite index increased 0.6% to 8,697.55, the highest on record.

-The MSCI All-Country World index advanced 0.3% to 549.62, the highest in 22 months.

Currencies

-The Bloomberg Dollar Spot index gained 0.2% to 1,209.23, hitting the highest in more than six weeks with its seventh straight advance.

-The euro fell 0.2% to $1.1004, the weakest in almost seven weeks.

-The Japanese yen depreciated 0.4% to 109.54 per dollar, hitting the weakest in six months with its sixth straight decline and the largest dip in almost three weeks.

-The British pound climbed 0.3% to $1.2912.

Bonds

-The yield on two-year Treasuries gained three basis points to 1.62%, the largest rise in more than two weeks.

-The yield on 10-year Treasuries advanced two basis points to 1.76%.

-Germany’s 10-year yield was unchanged at -0.37%, the lowest in more than three weeks.

-Britain’s 10-year yield advanced three basis points to 0.675%, the biggest rise in more than two weeks.

Commodities

-Gold depreciated 0.5% to $1,454.97 an ounce, the weakest in more than 16 weeks on the largest fall in more than two weeks.

-West Texas Intermediate crude decreased 0.6% to $58.07 a barrel.

-Copper was unchanged at $2.70 a pound, the highest in more than two weeks.

The route, 202 kilometres long, will have 18 stations. It will run through Bangkok, Chachoengsao, Chon Buri and Rayong provinces.

It will also be connected with the main transport modes in the Eastern Economic Corridor (EEC) and three sea ports, including the Laem Chabang sea port, said the Sri Racha-Map Ta Phut double rail project manager, Somkiat Jang-arun, on Wednesday (November 27). He was speaking at a public hearing on the project arranged by the SRT.

The project, which can boost Thailand’s logistics capacity, will be able to serve 2.3 million passengers per year in the first year of operation before rising to 5.9 million per year in 2055.

The line is expected to carry 83 million tonnes of goods per year in the first year of operation before rising to 250 million tonnes in 2055.

Kobsidthi Silpachai, head of capital markets research at Kasikornbank, said it will be interesting to see whether Thailand’s economic growth slows in the fourth quarter compared to the third.

The economy expanded 2.4 per cent year-on-year, he noted, but quarter-on-quarter growth in the third quarter was just 0.1 per cent.

Had the National Economic and Social Development Council not revised downward growth in the second quarter by 0.2 percentage point, quarter-on-quarter growth would have been negative, Kobsidthi said at a seminar hosted by Kasikornbank on Wednesday (November 27).

He said that the chance of the Thai economy entering a recession next year was now 20 per cent, up from the 15 per cent forecast earlier.

“We haven’t yet experienced recession, but we’re on the verge of it if we look at quarter-on-quarter growth of 0.1 per cent in the third quarter, the positive result coming from the downward revision for growth in the second,” said Kobsidthi.

“It is challenging for the Thai economy in the fourth quarter as we see signs of further economic weakening,” he pointed out.

The baht’s appreciation is meanwhile expected to continue, to around Bt30.5 per dollar by the end of this year, Bt29.75 in mid-2020 and Bt29.25 by the end of next year.

A relatively high current-account surplus, estimated to be $30 billion next year, would underpin the strong value of the baht, he said.

Continuation of the trade war between the United States and China will also help ensure the baht remains a safe haven for foreign investors.

The Kasikorn Research Centre has forecast economic growth next year of 2.7 per cent, down from 2.8 per cent in its previous projection.

The US-China trade war will hurt Thai exports, which are expected to contract by 2 per cent next year, compared with estimated 1 per cent fall this year.

Manufacturing and employment are unlikely to expand much next year, and Thailand is also facing a labour shortage as the average age of the population rises.

Government spending and stimulus packages can shore up the economy in the short run but cannot bring about a higher growth rate, Kobsidthi warned.

The number of foreign tourist arrivals will increase little because of the global economic slowdown. With China’s economy sluggish too, Beijing is expected to promote domestic tourism next year, resulting in a drop in Chinese visitors to Thailand, he noted.

Even with the Kingdom on the fiscal ropes, the Bank of Thailand is unlikely to lower its benchmark interest rate due to limited monetary space, Kobsidthi said. “The current 1.25 per cent rate is a historic low, and a further cut would not curb the baht’s rise.”

The central bank, however, will face considerable pressure next year to do something to boost the economy, he said.

Due to high volatility in the financial markets, many investors have sold off their Thai bonds. They are also required by the central bank to hold at least a limited amount of baht currency.

Short-term bond holdings among foreigners has dropped to Bt50 billion from Bt107 billion – the level before the central bank imposed restrictive measures on the amount of baht that could be held, he said.

The outstanding maturity for short-term bonds held by foreigners is the lowest in 16 years, he noted.

Foreign holdings of long-term bonds have also decreased to Bt858 billion from Bt879 billion, he said.

The partnership aims to enable more sustainable business practices by the financial industry and tackle key challenges to address environmental, social, and governance (ESG) risks.

Addressing ESG risks is integral to sustainable financing. Subsequently, this will help Thailand’s financial sector bolster its regulatory and industry cooperation to improve risk management practices and enhance governance. The issuance of the Responsible Lending Guidelines by the Thai Bankers’ Association in 2019 — under BOT’s leadership — has already set a precedent, highlighting the importance of sustainable banking in translating the nation’s reform efforts into a competitive and resilient financial sector.

“Thailand recognises the importance of adopting ESG practices in the financial sector and has recently made significant progress including the launch of the Thai Bankers’ Association Sustainable Banking guidelines. However, more can and needs to be done to steer the Thai financial sector towards more sustainable practices,” said Nawaron Dejsuvan, assistant governor of the Bank of Thailand’s Financial Institutions Policy Group. She added, “The Bank of Thailand and the Thai financial sector can benefit greatly from IFC’s extensive experiences to support continued development of Thailand’s sustainable finance”.

As part of this collaboration, IFC will support BOT in developing a Sustainable Finance policy framework, which includes a sustainability roadmap and tools to help the banking sector improve ESG risk management practices. This includes directing more capital to sectors and projects that have environmental and social benefits.

IFC, supported by the government of Australia, will also assist BOT and other financial institutions in the country build capacity in sustainable finance. Further, the partnership will facilitate knowledge sharing with other central banks that are members of Asean (Association of South East Asian Nations) and with members of the Sustainable Banking Network (SBN).

“The Thai financial sector is a key contributor to the growth of regional economies. Sustainable finance by Thai banks will not only have an impact in Thailand, but also on neighbouring markets,” said Vikram Kumar, IFC Country Manager for Thailand.

“Together with the central bank, we will support the Thai banking sector to emerge as the regional sustainable finance leader, by sharing its capital and expertise with neighboring markets”, he added.​​​​​

Factors that should be closely monitored include the US-China trade war, economic stimulus measures, increase in oil production capacity of non-Opec countries and output policy of the Organisation of the Petroleum Exporting Countries (Opec).

Chansin Treenuchagron, president and chief executive officer of PTT Public Company Limited, said today (November 27) that PRISM’s expert insight and professional viewpoints will help businesses in handling abrupt changes and embark on new opportunities.

“These data will allow us to be the leaders. The most important thing is to provide fact-based information and valuable knowledge to the public, promoting collaboration in accordance with PTT Group’s Sustainable Growth for All policy,” he said at the Annual Petroleum Outlook Forum 2019 titled “Sustainable Energy…Shaping A Better Future”. The event was co-hosted by PRISM Expert and the Petroleum Refining Industry Club of Federation of Thai Industries.

The 2019 forum, presided over by Chansin, presented future direction of global oil price, upcoming challenges in the energy sector, and solutions for sustainable energy.

Bandhit Thamprajamchit, president of Petroleum Refining Industry Club, commented on the global oil price trend, saying that “the global economic growth is currently at 3.4 per cent, causing crude oil demand to grow around 1.0 – 1.3 million barrel per day.

Although, the US-China trade war and Brexit have an impact on global economic growth as well as oil demand, the supply of crude oil in the world market tends to surge due to an increase in production capacity of non-Opec countries, including the United States. Meanwhile, Opec is maintaining its oil production level.

PRISM, therefore, forecast that Dubai crude oil price next year will be around the US$55 – 65 per barrel.

The long-term factors that will have an impact on the global oil situation are green energy policies and innovation & technology development for sustainable energy.

The Annual Petroleum Outlook Forum has been held since 2012, featuring an analysis by PRISM. Regular analysis on energy situation from PRISM can be reached via PRISM.PTTGRP.COM

Petronas LNG proposed the lowest price among the 12 bidders, said Egat deputy governor for strategy Patana Sangsriroujana in a statement today (November 27).

Egat planned to procure and import LNG in two stages of 65,000 tonnes each in the spot markets.

The Energy Policy Administrative Committee had set two periods for the imports . The first shipment will arrive at Map Ta Phut sea port from December 28 to 31.

The state agency will use the first delivery to power Unit 5 of Bangpakong power plant in Chachoengsao, and Unit 4 at Wang Noi plant, Ayutthya.

The second shipment, due next April, will fuel the newly-built Unit 1 of the South Bangkok power plant in Samut Prakarn, in addition to Unit 5 of Bangpakong power plant in Chachoengsao, and Unit 4 at Wang Noi plant, Ayutthya.

Mastercard today (November 27) released the third edition of its Mastercard Index of Women Entrepreneurs, celebrating the markets where women entrepreneurs are most likely to thrive, while sounding the alarm that there are still significant inequalities that hold us all back.

Based on publicly available data from international organisations including the International Labour Organisation, Unesco and the Global Entrepreneurship Monitor, the global Index tracks the progress and achievement of women entrepreneurs and business owners in 58 societies(representing nearly 80 per cent of the world’s female labour force) across three components: (i) Women’s Advancement Outcomes, (ii) Knowledge Assets & Financial Access, and (iii) Supporting Entrepreneurial Factors.

The results reaffirmed that women are able to make further business inroads and have higher labour force participation rates in open and vibrant markets like New Zealand, Singapore and Australia, where the support for SMEs and ease of doing business are high. Women are also able to draw from enabling resources, including access to capital, financial services and academic programmes.  Typically, these markets are also driven by social norms that deeply encourage and promote innovation, creativity, risk‐taking and success through personal perseverance, and grant women fair opportunities to rise as business leaders, gain tertiary education and to be perceived and accepted as successful entrepreneurs. Out of the 20 highest-ranking markets globally, 80 per cent are high income economies. Top 20 markets for women entrepreneurs

Women Business Owners (as percentage of Total Business Owners) is the benchmark indicator of the MIWE, which is derived from the three components outlined above. TTTTT

Of the 58 markets included in the index, eight moved up by more than five ranks year-on-year. Asia Pacific’s fast-rising markets included Indonesia (+13), Taiwan (China) (+9) and Thailand (+5) which all saw significant jumps in their rankings.

On the other end of the spectrum, for markets at the lower end of the index, women tend to be held back by lack of opportunities to assume higher-level economic roles, are marginalised by poor support for SMEs, low financial inclusion, poor opportunities for tertiary education and often restrictive and underdeveloped business and financial systems that make doing business difficult.

Importantly, societal and cultural norms also discourage them from working, being ambitious, or assuming leadership roles.

“What is clear through this research is that gender inequality continues to persist across the world, although it manifests in different ways. It isn’t a developed or developing world problem alone. Even in markets with the most promising entrepreneurial conditions, women’s business ownership hasn’t reached its full potential. This marginalisation hinders the empowerment of women socially, professionally, economically and politically – to the detriment of society as a whole. That’s why Mastercard is tackling this problem head on, all over the world, by providing the tools and networks that drive inclusive growth and put the digital economy to work for everyone, everywhere,” said Julienne Loh, executive vice president/Enterprise Partnerships, Asia Pacific, Mastercard.

“Women-owned and led businesses are strong catalysts for economic growth, improving the lives of everyone. With this study, we are shining a light on those under-represented because even today, inequality and exclusion still hold women back. At Mastercard, we believe good ideas come from everywhere. Now is the time for governments and organizations to power together to support women to advance their businesses by eradicating gender-bias and ensuring greater access to education and financial inclusion,” said Ann Cairns, Executive Vice Chairman, Mastercard.

Methodology

The Mastercard Index of Women Entrepreneurs 2019 is the third report profiling the progress and achievement of women entrepreneurs/business owners across 58 societies around the world. With Angola as the newest market added to the Middle East & Africa region, the index expands its attempt to track the factors that underpin the gender gap among business owners. Representing nearly 80 per cent of the world’s female labour force, it highlights how the 58 markets differ at three levels: (i) Women’s Advancement Outcomes, (ii) Knowledge Assets & Financial Access, and (iii) Supporting Entrepreneurial Factors.

The results also shed light on which factors and conditions are the most conducive in helping to narrow the gender gap among female entrepreneurs/business owners, or the most inhibitive and disabling, thereby weighing on women’s ability to thrive in business.