BANGKOK (AP) — Guerrilla fighters from Myanmar’s Karen ethnic minority claimed Monday to be close to seizing control of a major trading town bordering Thailand, as soldiers and civil servants loyal to the military government appeared to be preparing to abandon their positions.
The occupation of Myawaddy town by the Karen National Liberation Army, the armed wing of the Karen National Union, or KNU, appeared imminent as the guerrillas seized or besieged strategic army outposts on the town’s outskirts, a spokesperson and members of the KNU said Monday.
Myawaddy, in Kayin state, is Myanmar’s most active trading post with Thailand, and its fall would be the latest in a series of shock defeats suffered by the army since last October, when an alliance of three other ethnic rebel groups launched an offensive in the country’s northeast. Over the past five months, the army has been routed in northern Shan state, where it conceded control of several border crossings, in Rakhine state in the west, and is under growing attack elsewhere.
The military government under Senior Gen. Min Aung Hlaing has acknowledged it is under pressure, and recently introduced conscription to boost its ranks.
The nationwide conflict in Myanmar began after the army ousted the elected government of Aung San Suu Kyi in February 2021 and suppressed widespread nonviolent protests that sought a return to democratic rule.
Three residents of Myawaddy town, who spoke on the condition of anonymity because they fear being arrested by either warring side, told The Associated Press by phone that they had heard no sounds of the fighting outside since Sunday afternoon. They said most residents were working as usual, while others were preparing to flee to Mae Sot, just across the border in Thailand. Two of them said they had not seen any members of the government’s security forces since Sunday.
The situation was highlighted Sunday night when a Myanmar plane made an unscheduled flight to Mae Sot from Yangon, Myanmar’s biggest city. Thai media reported that the plane had received permission from Thai authorities to evacuate people fleeing Myawaddy. It was not clear if those fleeing, described as military and civil servants loyal to Myanmar's military government, had already crossed into Thailand over the river that marks the border.
Thailand’s Foreign Ministry on Monday confirmed that approval was given for three flights on a Yangon-Mae Sot route to transport passengers and cargo, one each day on Sunday through Tuesday. Myanmar’s government later canceled its requests for the remaining two flights.
The Thai government was closely monitoring the situation along the border, and is ready to take all necessary measures to maintain peace and order, and to keep the people along the border safe, the Thai ministry said.
In times of fighting along the frontier, Thailand has generally granted temporary shelter to Myanmar villagers. There are also about 87,000 living in nine long-term refugee camps.
The KNU, which is the leading political body for the Karen minority, said in a statement posted on Facebook that its armed wing and allied pro-democracy forces on Friday had seized the army base on the road to Myawaddy at Thin Gan Nyi Naung. It had served for nearly six decades as the military’s regional headquarters.
It said that 617 members of the security forces and their family members had surrendered. The KNU posted photos of the weapons that it claimed to have seized and captured military personnel and their family members given shelter in a school.
Two Karen guerrillas involved in their group’s offensive told AP on Monday that they have surrounded an army garrison about 4 kilometers (3 miles) to the west of Myawaddy that is in charge of the town’s security, and an artillery battalion to the south. Negotiations were underway for their surrenders, they said, speaking on condition of anonymity because they are not authorized to release information.
They also said the Karen have control of about 60% to 70% of Myawaddy township, and are almost certain to capture the town itself after the two bases surrender or are overrun.
The Karen, like other minority groups living in border regions, have struggled for decades for greater autonomy from Myanmar’s central government.
Fighting between the army and Karen armed groups intensified after the military seized power in 2021. Several ethnic rebel groups including the Karen have loose alliances with pro-democracy militias after the military takeover, and also offer refuge to the civilian opponents of the military government.
Members of the Karen National Liberation Army and People’s Defense Force collect weapons after they captured an army outpost, in the southern part of Myawaddy township in Kayin state, Myanmar, March 11, 2024. (AP Photo/METRO)
Members of the Karen National Liberation Army and People’s Defense Force collect weapons after they captured an army outpost, in the southern part of Myawaddy township in Kayin state, Myanmar, March 11, 2024. (AP Photo/METRO)
Members of the Karen National Liberation Army and People’s Defense Force examine two arrested soldiers after they captured an army outpost, in the southern part of Myawaddy township in Kayin state, Myanmar, March 11, 2024. (AP Photo/METRO)
HONG KONG (AP) — European markets opened higher on Friday while Asian shares ended mixed after the Federal Reserve cut interest rates again to ease pressure on the U.S. economy.
Germany’s DAX slipped 0.1% to 19,362,32. In Paris, the CAC 40 edged 0.1% lower to 7,417.13. Britain’s FTSE 100 also fell 0.1%, to 8,132.48.
The futures for the S&P 500 and the Dow Jones Industrial Average were virtually unchanged.
Markets in Hong Kong and Shanghai fell as investors awaited much-anticipated steps by Beijing to rev up the slowing Chinese economy following a meeting of the legislature’s Standing Committee.
“If Beijing delivers, we might see a powerful rally ripple through the region as investors gear up for a fresh surge in market momentum,” Stephen Innes of SPI Asset Management said in a commentary.
Officials announced a 6 trillion yuan ($839 billion), three-year plan to help local governments refinance their many trillions of debt that has ballooned during the COVID-19 pandemic and a collapse of the property market.
Hong Kong's Hang Seng erased early gains, falling 1.1% to 20,728.19. The Shanghai Composite index dropped 0.5% to 3,452.30.
Japan's Nikkei 225 index gained 0.3% to 39,500.37.
Shares in Japanese automaker Nissan Motor Corp. plummeted 6% on Friday after the company on Thursday announced that it will dismiss 9,000 workers and slash its global production capacity by 20% due to falling sales and rising costs and inventory.
In South Korea, the Kospi shed 0.1% to 2,561.15, while Australia’s S&P/ASX 200 gained 0.8% to 8,295.10.
On Thursday, the S&P 500 climbed 0.7%, adding to its surge from the day before following Donald Trump’s presidential victory. The Dow Jones Industrial Average was virtually unchanged, while the Nasdaq composite rallied 1.5%.
The Fed’s announcement that it was easing its main interest rate by a quarter of a percentage point caused few ripples in the market because even the precise size of it was so well anticipated by investors.
The central bank began easing rates in September and indicated more cuts were likely to come, as it focuses more on keeping the job market humming after helping get inflation nearly down to its 2% target. What’s less certain in the minds of investors now is how much Trump’s victory may upset the Fed’s plans.
Trump is pushing for tariffs and other policies that economists say could drive inflation higher, along with the economy’s growth. Traders have already begun paring forecasts for how many cuts to rates the Fed will deliver next year because of that. While lower rates can boost the economy, they can also give inflation more fuel.
For now, Fed Chair Jerome Powell said, nothing is changing. “In the near term, the election will have no effects” on interest-rate policy, he said.
At this point, Powell said it’s still not clear what the policies will be after Trump returns to the White House.
“We don’t guess, we don’t speculate and we don’t assume,” he said.
The yield on the 10-year Treasury bond eased to 4.33% from 4.44% late Wednesday.
A report on Thursday showed slightly more U.S. workers applied for unemployment benefits, though the number remains relatively low. A separate report suggested U.S. workers improved their productivity during the summer, which can help keep a lid on inflation, but not by quite as much as economists expected.
In other dealings early Friday, U.S. benchmark crude oil lost 89 cents to $71.47 per barrel in electronic trading on the New York Mercantile Exchange.
Brent crude, the international standard, gave up 88 cents to $74.75 per barrel.
The dollar fell to 152.61 Japanese yen from 152.94 yen. The euro slipped to $1.0770 from $1.0804.
People stand in front of an electronic stock board showing Japan's Nikkei index at a securities firm Friday, Nov. 8, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)
A person walks in front of an electronic stock board showing Japan's Nikkei index at a securities firm Friday, Nov. 8, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)
A person walks in front of an electronic stock board showing Tokyo Stock Price index at a securities firm Friday, Nov. 8, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)
A person walks in front of an electronic stock board showing Japan's Nikkei index at a securities firm Friday, Nov. 8, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)