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DavidCallanAsia-Pacific markets are mixed on Wednesday, mirroring moves in Wall Street's Tuesday session. Investors in the region will parse through earnings reports including those of Japanese giants Toyota and Mitsubishi, as well as Singapore's UOB. Traders will also brace for key economic data out of China and Japan on Thursday, with China releasing its April trade data and Japan announcing its March pay statistics. Japan's Nikkei 225 slipped 0.33% on its open, while the broad based Topix was down 0.3%. South Korea's Kospi extended gains and rose 0.1% after leading Asian markets on Tuesday.
Persons: HSI Organizations: Toyota, Mitsubishi, Traders, Nikkei Locations: DavidCallan Asia, Pacific, Wall, China, Japan
In Asia, investors await the Reserve Bank of Australia decision on rates as the bank concludes its two-day monetary policy meeting. Economists polled by Reuters expect the RBA to hold its benchmark lending rate at 4.35% for its fourth meeting in a row. Australia's S&P/ASX 200 inched up 0.23% ahead of the decision, on course to gain for a fourth straight day. South Korea's Kospi popped 1.6% as trading resumed after a public holiday, while the small-cap Kosdaq rose 1.08%. Japan's Nikkei 225 also resumed trading after a holiday to rise 0.96%, while the broad-based Topix gained 0.61%.
Persons: Australia's Organizations: Opera, Vivid, Anadolu Agency, Getty, Federal, Reserve Bank of Australia, Reuters, Nikkei Locations: Sydney, Australia, Asia, Pacific
A gong inside the Hong Kong Stock Exchange. China Vanke's subsidiary Onewo and EV maker Zhejiang Leapmotor Technology began trading on the Hong Kong market on Thursday. Asia-Pacific markets rose on Friday, tracking Wall Street gains ahead of key U.S. employment data. Economists polled by Dow Jones expect to see 240,000 job gains in the U.S. April nonfarm payrolls report due Friday at 0830a.m. Stock markets in Japan and mainland China were shut for public holidays.
Persons: Dow Jones, nonfarm Organizations: Hong Kong Stock Exchange, China Vanke's, Zhejiang Leapmotor Technology, Apple, Investors, U.S . Federal Reserve, Stock, U.S Locations: China, Hong Kong, Asia, Pacific, U.S, 0830a.m, Taiwan, South Korea, South, Japan
Nurphoto | Nurphoto | Getty ImagesAsia-Pacific markets extended gains from Monday as tech shares rebounded on Wall Street and investors look toward flash business activity figures from Australia, Japan and India. Figures from S&P Global show that Australia's composite purchasing managers index hit a two-year high, coming in at 53.6 against March's 53.3. Japan and India's PMI numbers will be released later Tuesday. Japan's Nikkei 225 popped 0.8% at the open, while the broad based Topix was up 0.66%. Futures for Hong Kong's Hang Seng index stood at 16,681, pointing to a weaker open compared to the HSI's close of 16,511.69.
Persons: Kospi Organizations: Nurphoto, Getty, March's, PMI, Nikkei Locations: Jama, New Delhi, India, Asia, Pacific, Australia, Japan
A batch of cars are ready to be shipped to overseas markets at the port of Taicang, Jiangsu province, China, April 9, 2024. Future Publishing | Future Publishing | Getty ImagesAsia-Pacific markets extended their declines as the world awaits Israel's response to Iran's air assault over the weekend. On Tuesday, China's first-quarter gross domestic product numbers will be in focus, with the world's second-largest economy expected to grow 4.6% from a year ago. Futures for Hong Kong's Hang Seng index stood at 16,430, pointing to a weaker open compared to the HSI's close of 16,600. Japan's Nikkei 225 plunged 1.5% at the open, while the broad based Topix was down 1.04%.
Persons: China's, Kospi Organizations: Future Publishing, Getty, Nikkei Locations: Taicang, Jiangsu province, China, Asia, Pacific, Australia
An aerial view of the central business district and Sydney Opera House on February 17, 2023. On Tuesday, investors in Asia will observe business confidence surveys from Australia and consumer confidence data from Japan. Asia-Pacific markets climbed even as U.S. Treasury yields put pressure on Wall Street equities Monday. Futures for Hong Kong's Hang Seng index stood at 16,831, pointing to a weaker open compared to the HSI's close of 16,732.85. Treasury yields rose, with the rate on the benchmark 10-year Treasury note up about 4 basis points to 4.42%.
Persons: CNBC's Hakyung Kim, Yun Li Organizations: Sydney Opera House, Treasury, Wall, Nikkei, Dow Jones, Nasdaq Locations: Asia, Australia, Japan, Pacific, U.S, . Federal
CNBC Daily Open: Risk aversion in vogue
  + stars: | 2024-04-05 | by ( Clement Tan | In Clemtan | ) www.cnbc.com   time to read: +3 min
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Hong Kong's Hang Seng Index edged up 0.1%., while mainland China markets remain shut for a public holiday. The Dow Jones Industrial Average closed down Thursday 1.35% at 38,596.98 in its biggest loss since March 2023 and fourth-straight daily loss. The profit guidance for 6.6 trillion Korean won ($4.89 billion) exceeded even LSEG's estimate of 5.24 trillion won.
Persons: Korea's Kospi, Brent, nonfarm payrolls, Dow, Janet Yellen, Yellen, hasn't Organizations: CNBC, Japan, Federal Reserve, Nikkei, West Texas, Dow Jones, U.S . Federal, Treasury, American, of Commerce, Chips, Samsung Electronics, Tech, Apple Locations: Asia, China, China U.S, Guangzhou, California
CNBC Daily Open: Disney wins proxy fight
  + stars: | 2024-04-04 | by ( Clement Tan | In Clemtan | ) www.cnbc.com   time to read: +2 min
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Korea leads AsiaKorea led stock market gains in Asia-Pacific on Thursday, with markets in Hong Kong, China and Taiwan shut for a public holiday. U.S. Secretary of State Antony Blinken is also due to visit China again later this year. [PRO] Autos winnersA Tesla short-seller named two auto stocks that he believes have the potential to deliver 100% upside for investors.
Persons: Robert Iger, Mickey Mouse, Korea's, Jerome Powell, Steve Cohen, David Einhorn, Henry V, Janet Yellen, Antony Blinken, Tesla Organizations: Walt Disney Company, New, Children's Hospital, Children's Hospital Los Angeles, CNBC, Nikkei, Dow Jones, Intel, Nasdaq, Fed, Treasury Locations: Children's Hospital Los, Los Angeles , California, Korea, Asia Korea, Asia, Pacific, Hong Kong, China, Taiwan, U.S, Yellen, China U.S
A customer is paying attention to the Chinese stock market at a stock exchange in Hangzhou, China, on January 22, 2024. (Photo by Costfoto/NurPhoto via Getty Images) Nurphoto | Nurphoto | Getty ImagesAsia-Pacific stocks declined Wednesday after a mixed session, with markets watching for moves in electric vehicle makers. Tesla's first-quarter vehicle deliveries dropped 8.5% from a year ago, sending shares of the U.S. EV maker down 5%. Japan's Nikkei 225 is down over 1.3% on its open, with the broad based Topix 0.82% lower. Futures for Hong Kong's Hang Seng index stood at 16,907, pointing to a marginally lower open after the index ended more than 2% higher at 16,931.52.
Persons: Tesla's, BYD, Kospi Organizations: Getty, Nurphoto, U.S, U.S . Federal Reserve, Japan's Nikkei Locations: Hangzhou, China, Asia, Pacific, Australia
A customer pays for his purchase at a dried food stall in Seoul, South Korea, on Thursday, March 3, 2022. Photographer: SeongJoon Cho/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty ImagesAsia-Pacific markets were mixed Tuesday, as investors assessed economic data from South Korea and Australia. South Korea's March inflation rate held steady at 3.1%, in line with expectations from economists polled by Reuters. Factory activity data from India is also due later in the day, with economists polled by Reuters expecting a stronger PMI reading of 59.4. South Korea's Kospi was down 0.34% and the Kosdaq slid 1.11% after the inflation reading.
Persons: SeongJoon Cho, Kospi Organizations: Bloomberg, Getty Images Bloomberg, Getty, Reuters, Nikkei Locations: Seoul, South Korea, Asia, Pacific, Australia, India
CNBC Daily Open: Fights in Mickey's club house
  + stars: | 2024-04-02 | by ( Clement Tan | In Clemtan | ) www.cnbc.com   time to read: +2 min
Actors dressed as Walt Disney characters Mickey Mouse (left) and Minnie Mouse (right) perform during a press preview for the "Minnie Besties Bash!" This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. U.S. stocks got off to a tentative start for the second quarter as Treasury yields rose on Monday. [PRO] Top 2Q betsBank of America names its top picks for the second quarter, including one Big Tech company.
Persons: Walt Disney, Mickey Mouse, Minnie Mouse, Minnie Besties, Korea's, Jerome Powell's Organizations: Tokyo Disneyland, CNBC, Asia Hong, Japan's Nikkei, CSI, U.S, Rapidus Corporation, of America, Big Tech Locations: Tokyo, Urayasu, Japan, Asia Hong Kong, Asia, Pacific, U.S, Beijing, China, Korea, Taiwan, Hokkaido
CNBC Daily Open: Inflation isn't coming down fast enough
  + stars: | 2024-03-26 | by ( Sumathi Bala | ) www.cnbc.com   time to read: +2 min
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Indian bonds on global indexesIndian bonds are set to be added to global indexes which could be a gamechanger for the country. Trump Media to start tradingThe company behind former President Donald Trump's social media platform Truth Social, will start trading on Tuesday. Called Trump Media & Technology Group Corp., it will trade on the NASDAQ under the stock ticker symbol DJT.
Persons: Patria Stodghill, vender Susan Mendoza, Donald Trump's, Trump, David Dietze Organizations: Patria, Washington , DC, CNBC, CSI, Federal Reserve, Dow, Nasdaq, Bloomberg, Services, China Apple, Wedbush Securities, Huawei, Apple, Trump Media, Trump Media & Technology Group Corp, NASDAQ, Nvidia, Wealth Management Locations: Washington ,, South Korea, Seng, China
TOKYO (AP) — Asian shares were trading mixed on Monday, as investors awaited further indications the Federal Reserve might begin cutting interest rates. A top Japanese finance official expressed reservations about the recent surge in the U.S. dollar against the Japanese yen, fueling speculation about possible intervention in the market. Despite the BOJ’s decision to hike rates, cautious communication failed to stimulate demand for the Japanese yen,” said Luca Santos, currency analyst ACY Securities. The yield on the 10-year Treasury fell to 4.21% from 4.27% late Thursday. The U.S. Federal Reserve has indicated it may deliver three cuts to interest rates this year, as long as inflation keeps cooling.
Persons: Seng, Korea's Kospi, , Luca Santos, Brent Organizations: TOKYO, Reserve, Nikkei, Shanghai, U.S ., U.S, of, of Japan, ACY Securities, Dow Jones, Nasdaq, Treasury, U.S . Federal Locations: of Japan, Japan, U.S
TOKYO (AP) — Global shares are mixed Thursday in lackluster trading. U.S. shares were set to drift higher with Dow futures up nearly 0.3% at 39,632.00. Nissan Motor Co. stock jumped 2.2% after an unconfirmed Japanese media report that the automaker behind the Leaf electric car was about to enter an agreement on EVs with domestic rival Honda Motor Co. Honda shares rose 1.1%. Photos You Should See View All 60 ImagesThe Japanese central bank has set a target of 2% inflation. That higher inflation has in turn dashed Wall Street’s hopes that the Federal Reserve could start offering relief at its meeting next week by cutting interest rates.
Persons: Germany's DAX, Sydney's, Hang Seng, , Anderson Alves, Brent Organizations: TOKYO, , CAC, Dow, Nikkei, Nissan Motor Co, Honda Motor Co, Honda, Nissan, Bank of Japan, Bank of, Federal Reserve, Fed, U.S Locations: Hong, Shanghai, ActivTrades, Bank of Japan
TOKYO (AP) — Asian shares mostly rose Wednesday, encouraged by a record rally on Wall Street that was led by technology companies. Speculation is rife that Japan's central bank is getting ready to end its super-easy monetary policy, which has set interest rates below zero, and start raising rates. Photos You Should See View All 60 ImagesOn Wall Street, the S&P 500 jumped 1.1% to top its all-time high set last week. The worse-than-expected data kept the door closed for long-sought cuts to interest rates at the Federal Reserve meeting next week. On Wall Street, big technology stocks did heavy lifting.
Persons: Australia's, Korea's Kospi, , Tim Waterer, Brian Jacobsen, Chris Larkin, Morgan Stanley, ” Larkin, , Dow, Brent Organizations: TOKYO, Nikkei, Bank of, KCM, U.S, Dow Jones, Nasdaq, Federal Reserve, Annex Wealth Management, Fed, Treasury, Oracle, Nvidia Locations: Hong, Shanghai, Wall
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Despite high inflation, the BOJ hasn't really shifted from its ultra-loose monetary policy that has been in place in 2016. Rate cut pivot in 2024Central banks worldwide could make a rate cut pivot in 2024. Boeing crisis hurt airlinesCEOs from several airlines say Boeing's delivery delays have forced the carriers to change their growth plans.
Persons: Thomas Calomiris Organizations: Washington , DC, CNBC, Japan's Nikkei, Dow, Nasdaq, Bank of Japan, Economist Intelligence, Boeing, Alaska Airlines Max, Southwest Airlines, Alaska Airlines, United Locations: Washington ,, Asia, BOJ, Central, Beijing
TOKYO (AP) — Asian shares were trading mixed Thursday, after Wall Street recovered some losses from the day before. Japan's benchmark Nikkei 225 momentarily reached a record high in early trading but slipped later to finish at 39,598.71, down 1.2%. “The positive handover from Wall Street, alongside lower Treasury yields and a weaker U.S. dollar, may offer some relief as Fed Chair’s testimony failed to drive much hawkish deviation from his usual script,” said Yeap Jun Rong, market analyst at IG. As always, Wall Street scrutinized each of Powell's words for hints about when the Federal Reserve could begin cutting its main interest rate, which is at its highest level since 2001. “We want to see a little more data so we can become more confident.”Traders have already shelved earlier expectations for a cut in March, and they’re now eyeing June as the likeliest beginning.
Persons: Australia's, , Yeap Jun Rong, Jerome Powell, CrowdStrike, Steven Mnuchin, Donald Trump, Powell, ” Powell, Rubeela Farooqi, Locker, Brent, Stan Choe Organizations: TOKYO, Wall, Nikkei, IG, Federal, Dow Jones, Nasdaq, Nvidia, Big Tech, New York Community Bancorp, U.S, Treasury, Federal Reserve, Fed, Traders, AP Locations: Hong, Shanghai
BANGKOK (AP) — Shares rose in Asia on Thursday after Wall Street stocks recovered much of their sharp losses from a day before. On Wednesday, the S&P 500 climbed 1% to 5,000.62, clawing back more than two-thirds of its loss from Tuesday. It was the single strongest force lifting the S&P 500 index. Most companies in the S&P 500 have been topping analysts’ forecasts for the last three months of 2023. Hopes for stronger growth in 2024 from a solid economy have been another reason the S&P 500 has set 10 records already this year.
Persons: Australia's, Taiwan’s Taiex, India's Sensex, Russell, Lyft, Airbnb Organizations: Wall, Bank of Japan, Nikkei, Reserve, Dow Jones Industrial, Nasdaq, Treasury, Nvidia, Technologies, Akamai Technologies, New York Mercantile Exchange, Brent, U.S Locations: BANGKOK, Asia, Seoul, Japan, Britain, China, Germany, Hong Kong, Bangkok, Italy, U.S
TOKYO (AP) — Shares declined Wednesday in Asia after disappointingly high U.S. inflation data sent stocks sliding on Wall Street and raised prospects that interest rates will remain elevated for longer. Hong Kong’s Hang Seng index resumed trading after the Lunar New Year holiday, edging 0.7% higher to 15,861.77 after opening lower. High interest rates hurt all kinds of investments, and they tend to particularly hurt high-growth stocks like technology companies. Stocks of smaller companies fell even more because high rates could hurt them more than bigger rivals by making it more difficult to borrow cash. Yields jumped in the bond market as traders built up expectations for the Fed to keep rates high for longer.
Persons: Australia's, Korea's Kospi, Sensex, Tuesday’s, Russell, Alexandra Wilson, Elizondo, Carl Icahn Organizations: TOKYO, , Nikkei, Federal Reserve, Labor Department, Dow Jones, Nasdaq, Microsoft, Fed, Treasury, Goldman, Goldman Sachs Asset Management, Wall, JetBlue Airways, New York Mercantile Exchange, Brent, U.S Locations: Asia, Indonesia, Southeast, China, Bangkok, Goldman Sachs
That may relieve pressure on the central bank to alter its longstanding ultra-lax monetary policy and raise its benchmark interest rate from minus 0.1%. Inflation has been cooling enough that the Federal Reserve has hinted it may cut its main interest rate several times this year. Reports showing the U.S. economy and job market remain remarkably solid, along with some comments from Fed officials, have been forcing the delays. In energy trading, benchmark U.S. crude rose 27 cents to $77.19 a barrel in electronic trading on the New York Mercantile Exchange. In currency trading, the U.S. dollar rose to 149.67 Japanese yen from 149.34 yen.
Persons: Germany's DAX, Australia's, Korea's Kospi, ” Yeap Jun Rong, that’s Organizations: TOKYO, CAC, FTSE, Dow Jones, Nikkei, Bank of Japan, IG, Federal Reserve, New York Mercantile Exchange, Brent, U.S Locations: Asia, China , Hong Kong, Taiwan, United States
TOKYO (AP) — Asian shares were mostly higher Wednesday, tracking gains on Wall Street, although Tokyo's benchmark slipped slightly. Those developments had pushed Chinese shares, including those in Hong Kong, sharply higher on Tuesday. The mostly small cap stocks traded in the southern Chinese market of Shenzhen were up 1.4%, and the CSI 1000, an index that tracks highly volatile “snowball derivatives" was up 4.2%. Wall Street drifted higher through a quiet Tuesday as the bond market calmed following some sharp swings. In the bond market, the yield on the 10-year Treasury relaxed following its slingshot ride higher in recent days.
Persons: Xi Jinping, Seng, Australia's, Korea's Kospi, Brent Organizations: TOKYO, Hong, CSI, Nikkei, Toyota Motor Corp, Dow Jones Industrial, Nasdaq, Federal, GE Healthcare Technologies, Palantir Technologies, FMC, CVS Health, Walt Disney Co, PepsiCo, Treasury, U.S Locations: U.S, Shanghai, Shenzhen, Hong Kong, Asia, Brazil
TOKYO (AP) — Asian shares mostly rose Friday, helped by optimism about technology shares following a Wall Street rally led by big tech stocks. On Wall Street, U.S. stocks bounced back in a widespread rally following their worst day since September. Such data could give the Federal Reserve more of the evidence it wants of a slowdown in inflation before it will deliver the cuts to interest rates that investors crave. Traders are increasingly betting the Federal Reserve will begin cutting interest rates in May, after pushing back expectations from March. High interest rates intentionally slow the economy, and they undercut prices for investments.
Persons: Australia's, Korea's Kospi, Merck, Etsy Organizations: TOKYO, Nikkei, Dow Jones, Nasdaq, Microsoft, Big Tech, Apple, Meta, Facebook, Federal, crave, Elliott Investment Management, , New York Community Bancorp, Valley Bank, Signature Bank, New York Community Bancorp, Institute for Supply Management, Traders, Federal Reserve, Fed, New York Mercantile Exchange, Brent, U.S . Locations: Shanghai, U.S, ,
TOKYO (AP) — Asian shares were mostly higher on Thursday, with Chinese stocks extending gains after Beijing announced a raft of policies to support sagging markets. Late Wednesday, the Chinese central bank announced a set of rules to govern lending to property developers. Earlier, it said it would cut bank reserve requirements to put about 1 trillion yuan ($141 billion) into the economy. The Chinese economy has slowed, with growth forecast below 5% this year, its lowest level since 1990 excluding the years of the COVID-19 pandemic. The yield on the 10-year Treasury rose to 4.17% from 4.14% late Tuesday.
Persons: Sydney's, Brent Organizations: TOKYO, Beijing, Shanghai, China Evergrande Holdings, Nikkei, Bank of Japan, Nasdaq, Dow Jones, Federal Reserve, Treasury, Fed, Global, U.S Locations: Hong Kong, Tokyo, Seoul . U.S, Shanghai, U.S
It said China plans to tap offshore funds held by Chinese state-owned enterprises and also local funds. Elsewhere in Asia, South Korea's Kospi rose 0.6% to 2,478.61 and Australia's S&P/ASX 200 added 0.5% to 7,514.90. ADM also said it expects to report profit for the full year of 2023 that’s below what analysts were forecasting. That in turn has relaxed the pressure considerably on the stock market and helped it to rip higher. In other trading, U.S. benchmark crude oil rose 9 cents to $74.85 per barrel in electronic trading on the New York Mercantile Exchange.
Persons: Seng, Tan Boon Heng, , ” Tan, Sunoco, Archer Daniels Midland, Tesla Organizations: Bloomberg, Mizuho Bank, Nikkei, Bank of Japan, U.S ., Dow Jones, Nasdaq, Technologies, NuStar Energy, ADM, American Airlines, Intel, Procter, Gamble, Federal Reserve, Treasury, New York Mercantile Exchange, Brent Locations: BANGKOK, Asia, Hong Kong, Shanghai, Beijing, China, South, U.S
TOKYO (AP) — Asian shares traded mixed Thursday as pessimism spread among investors about any imminent interest rate cut in the United States. Wall Street slipped following another signal that it may have gotten too optimistic about when the Federal Reserve will deliver the cuts to interest rates. Yields climbed after a report showed sales at U.S. retailers were stronger in December than economists expected. Higher yields can crimp profits for companies, while also making investors less willing to pay high prices for stocks. Higher yields hurt all kinds of investments, and high-growth stocks tend to be some of the hardest hit.
Persons: Australia's, Korea's Kospi, Seng, Brent, Stan Choe, Yuri Kageyama Organizations: TOKYO, Nikkei, Shanghai, Federal Reserve, Dow Jones, Nasdaq, U.S, Treasury, Amazon, Fed, Traders, CME Group, European Central Bank, U.S . Bancorp, Sporting Goods, Spirit Airlines, JetBlue Airways, JetBlue, U.S ., AP Locations: United States, Hong, U.S, New York
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