Brexit: Asian powers warnings over global stability www.bbc.com

Kishida asks UK to consider Japanese firms www3.nhk.or.jp

China warns Brexit will 'cast shadow' over global economy www.bbc.com

China finance experts have warned that Britain's decision to leave the European Union will "cast a shadow over the global economy".
Finance minister Lou Jiwei said the "repercussions and fallout" will emerge over the next five to 10 years.
Huang Yiping, a member of China's central bank monetary policy committee, said the Brexit could mark a "reversal of globalisation".
If so, he said, it would be "very bad" for both the world and China.
Last year, China was responsible for $3.3 billion worth of foreign direct investment in Britain, according to law firm Baker & McKenzie. Between 2005 and 2015, it has invested nearly $30 billion in Britain.
David Cameron announced £40 billion worth of deals between Britain and China following a visit to the UK by President Xi Jinping in October last year.
While Mr Lou said the result "will cast a shadow over the global economy", he added that it was difficult to predict the outcome and said the reaction from global stock markets, which fell sharply on Friday, may have been overdone.
"The knee-jerk reaction from the market is probably a bit excessive and needs to calm down and take an objective view," he said.
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Following the result of the vote, the pound plunged 10% against the dollar to a 31-year low before trimming losses to end the day around 7.5% down.
Sterling also fell 11.4% against the Japanese yen which is seen by investors as a safe haven for investors in times of crisis.
Japan hinted that it may intervene to stem the yen's strength.
Tomomi Inada, chairwoman of the Policy Research Council of the ruling Liberal Democratic Party, said: "Speculative, violent moves (in the forex market) have extremely negative effects. If necessary, the government should not hesitate to respond, including currency intervention."
On Friday, the Swiss National Bank acted to weaken the Swiss franc which rose 2.1% against the dollar as investors rushed to buy the currency.
In the Middle East, shares on the Saudi Arabia stock exchange fell 3.7% on Sunday.
Weak pound, big opportunities
Anand Mahindra, chairman of Mahindra Group, the auto to aerospace Indian conglomerate with operations in Britain, said the world was behaving "as if a tsunami wave has hit" which he viewed as an over-reaction.
He said: "My hunch is that you're going to see a fair amount of recovery in markets worldwide and a certain amount of objectivity and reason return to the perspective in which the Brexit is viewed from tomorrow."
Earlier this year, the Indian company launched the e2o electric car in the UK where it already has a presence with its IT business Tech Manhindra.

Mr Mahindra said Britain's decision to leave may prove advantageous.
"The last time I spoke to the people in the British government about reducing taxes and duty on electric vehicles, they said they were hampered from doing so because of the European Union protocols and tariffs.
"So I hate to say this but as far as our electric vehicles are concerned this is probably something where I could go back to them and say you know you're going to have your own discretion to lower the taxes from now on. So I'm certainly going to drive that point home."

Tokyo shares hit year-to-date low on Brexit vote www3.nhk.or.jp/nhkworld/

Development Bank of Mongolia becomes partner of SCO Interbank Consortium www.en.montsame.mn

GLOBAL MARKETS ARE IN CHAOS AFTER UK VOTES TO LEAVE EU www.businessinsider.com/

China, Russia, Mongolia endorse development plan on economic corridor www.xinhuanet.com

TASHKENT, June 23 (Xinhua) -- China, Russia and Mongolia inked a development plan here on Thursday to build an economic corridor linking the three neighbors, pledging to boost transportation connectivity and economic cooperation in border regions.

The plan was signed after a meeting of Chinese President Xi Jinping, Russian President Vladimir Putin and Mongolian President Tsakhiagiin Elbegdorj in the Uzbek capital of Tashkent ahead of an annual summit of the Shanghai Cooperation Organization (SCO).

While chairing the trilateral meeting, the third of its kind, the Chinese president reviewed the achievements the three countries have made in implementing their mid-term roadmap for cooperation, saying progress and positive results have been made in such areas as trade and economy, cultural and people-to-people exchanges, transit transport, tourism and sports.

"The Chinese side is satisfied with the momentum of our trilateral cooperation," Xi said.

He proposed that the three countries continue to center on the aligning of China's Silk Road Economic Belt initiative, Russia's development strategies, especially its transcontinental rail plan, and Mongolia's Steppe Road program to actively advance the trilateral cooperation.

Xi called on the three countries to well implement the development plan to build the economic corridor and strengthen cooperation in transportation infrastructure connectivity, port construction, industrial capacity, investment, trade and economy, cultural and people-to-people exchanges, and environmental protection, thus producing outcomes at an early date.

"We three sides should actively engage in the discussion of building cross-border economic cooperation zones, enhance industrial tie-in, boost sub-regional cooperation in our adjacent areas, and promote the common development of our adjacent areas," Xi said.

The Chinese president also urged the three countries to expand cooperation within the framework of the SCO, especially in such areas as transit transportation, food security, disaster reduction and energy.

Putin said Russia, China and Mongolia are friendly neighbors based on equality, respect and mutual benefit.

He said Russia, in light of the three countries' consensus, is committed to working with China and Mongolia to well implement the projects of transportation and infrastructure construction, speed up simplifying port procedures, and promote regional economic integration process.

Russia is also willing to increase cultural and people-to-people exchanges with the other two countries, he added.

For his part, Elbegdorj said the development plan on the economic corridor linking the three countries is very important, adding that Mongolia stands ready to join hands with China and Russia to advance the construction of transportation infrastructure and strengthen economic cooperation in border regions.

Mongolia also hopes to enhance cooperation with the other two countries in agriculture and disaster relief, he said.

After the meeting, the three heads of state also witnessed the signing of a trilateral agreement on the mutual recognition of the customs supervision results on certain commodities.

The 16th meeting of the SCO Council of Heads of State is scheduled to be held in Tashkent on Thursday and Friday.

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