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☆ Economist discusses artificial intelligence and Asia ageing population
▼ + stars: | 2024-02-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJapan: Automation not effective enough to offset ageing population downsides, economist saysCarlos Casanova, senior economist for Asia at UBP, says artificial intelligence is only "part of the solution."

Persons: Carlos Casanova Organizations: Japan, Automation Locations: Asia, UBP

☆ China c.bank boosts liquidity injection through policy loan, rate unchanged
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +4 min

A gardener works outside the headquarters of the central bank of the People's Republic of China in Beijing October 8, 2008. REUTERS/Jason Lee (CHINA) Acquire Licensing RightsSHANGHAI/SINGAPORE, Nov 15 (Reuters) - China's central bank ramped up liquidity injection but kept the interest rate unchanged when rolling over maturing medium-term policy loans on Wednesday, matching market expectations. The central bank said the loan operation was meant to maintain banking system liquidity reasonably ample to counteract short-term factors including tax payments and government bond issuance. All 31 market watchers polled by Reuters this week had expected the central bank to inject fresh funds to exceed the maturity. The most likely outcome is for PBOC to inject more support through open market operations, while leaving the MLF rate unchanged."

Persons: Jason Lee, Carlos Casanova, corporates, Xing Zhaopeng, Winni Zhou, Tom Westbrook, Christian Schmollinger, Stephen Coates Organizations: REUTERS, Rights, People's Bank of China, Reuters, AAA, ANZ, Thomson Locations: People's Republic of China, Beijing, China, CHINA, Rights SHANGHAI, SINGAPORE, Asia, UBP, United States

☆ Asian shares hit two-week high on prospects for Fed pause
▼ + stars: | 2023-08-30 | by ( Ankur Banerjee | ) www.reuters.com time to read: +5 min

The index though is down about 6% so far in August and set for its worst monthly performance since February. The Eurostoxx 50 futures rose 0.39%, German DAX futures were up 0.29% and FTSE futures were up 0.31%. Overnight, Wall Street ended sharply higher, while Treasury yields slid to three-week lows after data showed U.S. job openings dropped to the lowest in nearly 2-1/2 years in July, signalling easing labour market pressures. With the Fed highlighting that the interest rate path will be heavily dependent on data, traders are tweaking their bets based on the latest indicators. Traders will be closely watching cocoa prices on Wednesday after the London cocoa futures on ICE rose to a 46-year high on Tuesday, buoyed by tightening supplies.

Persons: Issei Kato, DAX, Powell, Tina Teng, Carlos Casanova, Gina Raimondo, Brent, bitcoin, Ankur Banerjee, Edmund Klamann Organizations: REUTERS, Rights, Federal Reserve, Futures, Treasury, CMC Markets, Investors, PMI, . Commerce, Aussie, Traders, Thomson Locations: Tokyo, Japan, Asia, Pacific, Europe, Germany, Spain, China, Wednesday's, UBP, U.S

While an ISM survey offered a tough assessment of U.S. manufacturing conditions, so-called hard data suggest the sector is shuffling along. Federal Reserve data in June showed factory production rebounded in the second quarter, ending two straight quarterly declines. Meanwhile, U.S. construction spending increased solidly last month and May's data was revised higher, boosted by outlays in both single and multifamily housing projects, the Commerce Department said. China's Caixin/S&P Global manufacturing purchasing managers' index (PMI) missed analysts forecasts and showed the first decline in activity since April. Money markets now see a 60% probability that the Bank of England will hike rates by 25 basis points on Thursday.

Persons: Dado Ruvic, Steven Ricchiuto, Carlos Casanova, Kit Juckes, Sterling, Herbert Lash, Joice Alves, Ankur Banerjee, Alex Richardson, Hugh Lawson, Alexander Smith Organizations: REUTERS, Reuters, Federal, outlays, Commerce Department, Labor, Survey, Labor Department, Mizuho Securities USA, Reserve Bank of Australia, Bank of Japan, U.S, Natixis Investment, P Global, European Central Bank, ECB, Societe Generale, Bank of, Thomson Locations: Asia, Hong Kong, U.S, Bank of England, London, Singapore

☆ Aussie set for biggest one-day drop since March, yen at 3-week low
▼ + stars: | 2023-08-01 | by ( Joice Alves | ) www.reuters.com time to read: +4 min

The Aussie fell 1.4% to $0.6626, wiping out the 0.87% gains it clocked in July and set for its sharpest daily drop since March. "I think it was right that the RBA held today, given trimmed mean inflation and unemployment matched the RBA's forecasts. China's Caixin/S&P Global manufacturing purchasing managers' index (PMI) missed analysts forecasts and showed the first decline in activity since April. The euro eased 0.2% to $1.0975, not too far from an almost three-week low touched on Friday. Money markets now see a 60% probability that the Bank of England will hike rates by 25 basis points on Thursday.

Persons: David Gray, Matt Simpson, Carlos Casanova, Kit Juckes, Sterling, Joice Alves, Ankur Banerjee, Alex Richardson, Hugh Lawson Organizations: REUTERS, Australian, Reserve Bank of Australia, Bank of Japan's, City, Federal, P Global, European Central Bank, ECB, Societe Generale, Bank of, Thomson Locations: Sydney, Australia, China, Asia, Hong Kong, U.S, Bank of England, London, Singapore

☆ Yen eases to 3-week low as traders weigh BOJ shift; focus on RBA
▼ + stars: | 2023-08-01 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

"As the new line in the sand is 1%, it would make sense to broaden the YCC band by this level." Investor attention during Asian hours will be on the policy decision from the Reserve Bank of Australia. "However, we expect any post RBA strength in Aussie to be short lived given the weak global economic outlook." Bank of England's policy meeting on Thursday is in the spotlight, with markets evenly divided between a 25- and 50-basis-point increase. Reporting by Ankur Banerjee in Singapore; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

Persons: Carlos Casanova, Kristina Clifton, CBA's Clifton, Sterling, Ankur Banerjee, Muralikumar Organizations: of Japan's, Reserve Bank of, Reserve Bank of Australia, Commonwealth Bank of Australia, Survey, Bank of, Thomson Locations: SINGAPORE, Asia, Hong Kong, U.S, Singapore

☆ Yen eases to 3-week low as traders weigh BOJ shift, focus on RBA
▼ + stars: | 2023-08-01 | by ( ) www.cnbc.com time to read: +3 min

The yen slipped to a fresh three-week low on Tuesday as traders pondered the Bank of Japan's steps last week to tweak its yield curve control policy, while the Australian dollar was soft ahead of the Reserve Bank of Australia's policy decision. "As the new line in the sand is 1%, it would make sense to broaden the YCC band by this level." Investor attention during Asian hours will be on the policy decision from the Reserve Bank of Australia. "However, we expect any post RBA strength in Aussie to be short lived given the weak global economic outlook." Bank of England's policy meeting on Thursday is in the spotlight, with markets evenly divided between a 25- and 50-basis-point increase.

Persons: Carlos Casanova, Kristina Clifton, CBA's Clifton Organizations: of Japan's, Reserve Bank of, Reserve Bank of Australia, Commonwealth Bank of Australia, Survey, Bank of Locations: Asia, Hong Kong, U.S

HONG KONG/TAIPEI, July 21 (Reuters) - Investors are putting aside geopolitical tensions to pile in to Taiwan stocks, with foreign inflows the biggest in years, thanks to soaring artificial intelligence and chipmaking stocks. Rather, investors say it's all the more sturdy as the bogged-down conflict deters Chinese action and risks can be managed by keeping positions liquid with one eye on a possibly quick exit. "A potential escalation of events in the Taiwan Strait down the line is less relevant for these investors," he said. "So that makes Taiwan’s AI supply chain very attractive for foreign investors, and we believe their fund inflows will continue to be strong throughout the year." Investors say Taiwan's market is uniquely positioned to benefit because it is exposed to the sector's growth from applications to components, where demand is rebounding.

Persons: Carlos Casanova, Warren Buffett, we've, Frank Benzimra, Hai, Andrew Swan, Goldman Sachs, Clarence Chan, Summer Zhen, Kim Coghill Organizations: Nasdaq, Union Bancaire, Taiwan Semiconductor Manufacturing, Societe Generale ., Accton Technology, Hai Precision Industry, Wistron Corp, Alchip Technologies, Ark Investment Management, Vanguard, PineBridge Investments, Mellon Investment Management, Thomson Locations: HONG KONG, TAIPEI, Taiwan, Asia, Ukraine, Taiwan Strait, China, Taipei, Japan, PineBridge Investments Asia, Alchip, Asia Pacific, Hong Kong

☆ We're confident that Hong Kong's economy can 'return to expansion' in 2023, says economist
▼ + stars: | 2023-02-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're confident that Hong Kong's economy can 'return to expansion' in 2023, says economistCarlos Casanova of Union Bancaire Privee discusses the factors that are lifting sentiment in Hong Kong, such as mainland China's reopening.

☆ Hong Kong services to rebound as China reopens, but UBP says sector is coming from 'fragile situation'
▼ + stars: | 2023-02-02 | by ( Goh Chiew Tong | ) www.cnbc.com time to read: 1 min

Hong Kong's service sector will be the part of economy that sees "the biggest rebound" as borders reopen, UBP told CNBC's "Squawk Box Asia" on Thursday. However, it warned that the sector is coming "from a very fragile situation," given its contraction in every quarter of 2022. "We can't exclude the possibility of further insolvencies or bankruptcies … even as things do look to improve in the months ahead," said Carlos Casanova, UBP's senior economist for Asia. The latest figures from the Hong Kong government also showed the city's economy contracted by 4.2% in its fourth quarter, the fourth-straight quarter of declines. "That contraction was much faster than we had anticipated, our forecast was -2.8%," Casanova added.

☆ Economist says there are two things China needs to do recover economically
▼ + stars: | 2022-11-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEconomist says there are two things China needs to do recover economicallyCarlos Casanova of UBP says the country needs to move away from its zero-Covid policy and continue easing monetary and fiscal policies.

☆ China is going to pursue its goal of achieving a modern socialist economy by 2035, says economist
▼ + stars: | 2022-10-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina is going to pursue its goal of achieving a modern socialist economy by 2035, says economistCarlos Casanova of UBP discusses the 20th National Congress of the Communist Party of China, and says there was a marked increase in references to modernization, development and "socialism with Chinese characteristics."

☆ Reactions: Putin mobilises more troops for Ukraine
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +20 min

Russian President Vladimir Putin makes an address on the conflict with Ukraine, in Moscow, Russia, in this still image taken from video released September 21, 2022. I think even with this Russia stuff it’s hard to see the market really rally a lot more from here ahead of the FOMC. From a geopolitical standpoint, Putin is frustrated that the war isn’t going his way and he’s threatening the west. "If it gets really, really bad, I'd expect the dollar to rise." This announcement by Putin to intensify the escalation in Ukraine definitely doesn’t help.

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