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☆ European markets set for another upbeat open as positive momentum builds
▼ + stars: | 2024-04-24 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

European markets are set to open in positive territory Wednesday, building on gains seen since the start of the week. Regional stocks closed higher Tuesday, with the U.K.'s FTSE 100 hitting a fresh intraday record high as investors built on upbeat sentiment this week. Europe's markets have been buoyed by gains in Asia and on Wall Street this week, where investors have been keeping a close eye on tech earnings. Overnight, Japan's Nikkei 225 led gains in Asia as markets in the region rose across the board, while S&P 500 futures edged higher Tuesday night as investors parsed the latest financial releases from corporate America.

Organizations: Nikkei Locations: Asia, America

☆ Asia markets extend gains ahead of business activity figures from around the region
▼ + stars: | 2024-04-23 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

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

☆ Saudi Arabia's oil giant boss speaks up for China, saying its massive production of solar panels and EVs helps affordability
▼ + stars: | 2024-04-23 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

Saudi Aramco CEO Amin Nasser praised China for making solar panels and electric vehicles affordable. Saudi Arabia is fostering closer ties with China and wooing Chinese investments and business partnerships. Unlike the West, Saudi Arabia is cozying up to China. "There are lots of opportunities for China to invest in Saudi Arabia," Alibrahim told the media outlet. In March last year, China brokered a détente between Saudi Arabia and Iran, prompting concerns over waning US influence in the Middle East.

Persons: Amin Nasser, Nasser, China's overcapacity, Janet Yellen, Olaf Scholz, China Nasser's, Faisal Alibrahim, Alibrahim, Jon Alterman Organizations: Saudi, Service, Saudi Aramco, World Energy, Financial Times, West, Nikkei, Aramco, Center for Strategic, International Studies, China Economic, Security Locations: China, Saudi Arabia, Saudi Aramco, Saudi, Rotterdam, East Asia, Beijing, Saudi Arabian, Iran, United States

☆ SoftBank will reportedly invest nearly $1 billion in AI push, tapping Nvidia's chips
▼ + stars: | 2024-04-23 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

Signage at a SoftBank Corp. store in the Ginza district of Tokyo, Japan, on Wednesday, Nov. 1, 2023. Japanese tech conglomerate SoftBank is looking to develop a "world-class" Japanese-language-specific generative artificial intelligence model, and plans to invest $960 million in the next two years to bolster its computing facilities, according to a Nikkei report. Training of large language models (LLM), such as OpenAI's Chat GPT, requires advanced graphics processing units, which SoftBank plans to purchase from U.S. chip giant Nvidia , the Nikkei reported Monday, citing anonymous sources. The investment of 150 billion yen ($960 million) will be spent in 2024 and 2025 and adds to 20 billion yen that SoftBank spent on computing infrastructure last year, the report said. According to another report from Nikkei Asia, Japan lacks private companies with the high-performance supercomputers that are needed to build LLM, despite increased interest in the tech.

Persons: SoftBank Organizations: SoftBank Corp, Nikkei, Nvidia Locations: Ginza, Tokyo, Japan, U.S, Nikkei Asia

☆ Asia markets trade lower tracking Wall Street's losses; Japan inflation numbers watched
▼ + stars: | 2024-04-19 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Asia-Pacific markets were all lower on Friday, tracking Wall Street's losses overnight and giving up gains from the previous day. Traders will also be watching chip stocks, after Taiwanese chip giant Taiwan Semiconductor Manufacturing Corp beat first quarter revenue and profit expectations on Thursday. Japan released March inflation data, with the headline inflation rate coming in at 2.7%, down from the 2.8% seen in February. The core inflation rate — which strips out fresh food prices — stood at 2.6%, in line with expectations from economists polled by Reuters. Japan's benchmark Nikkei 225 was down 1.88% after the inflation reading, while the broad based Topix fell 1.3%.

Organizations: Traders, Taiwan Semiconductor Manufacturing Corp, Reuters, Nikkei Locations: Asia, Pacific

☆ Oil prices jump on escalating tensions in the Middle East after strike on Iran
▼ + stars: | 2024-04-19 | by ( Laura He | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Oil prices jumped on Friday while Asian markets tumbled, with global investors worrying about an escalation in conflict in the Middle East after explosions were reported near the Iranian city of Isfahan. Iran launched the attack in retaliation for a suspected Israeli strike on its embassy compound in Syria earlier this month. “Israel’s response could determine whether oil supplies are ultimately under threat.”Elsewhere, ongoing oil disruptions remain high, the analysts added. In Hong Kong, PetroChina, Asia’s largest oil and gas supplier, advanced 2.3%. Sinopec, the world’s largest oil refining company by capacity, rose 1.3%.

Persons: Brent, Benjamin Netanyahu, Israel, ”, “, Korea’s Kospi, Cosmo Energy Organizations: Hong Kong CNN, CNN, ANZ, United, Stock, Nikkei, China’s, Energy, Eneos Corp, Oil Corp Locations: Hong Kong, Iranian, Isfahan, Israel, Iran, Syria, United States, Mexico, Asia, China’s Shanghai, Tokyo, Seoul

☆ Oil disruption fears in the Middle East are getting real after reports of an Israel strike on Iran
▼ + stars: | 2024-04-19 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Read previewOil prices jumped while stocks sold off after reports of an escalation in Middle East tensions. International benchmark Brent crude oil futures rose as much as 4.2% before trading 2.8% higher at $89.54 a barrel at 11:15 p.m. EDT. The strike on Friday came days after Iran attacked Israel on Saturday with a barrage of more than 300 missiles and drones. Israel didn't claim responsibility for the strike, but Iran held it accountable and vowed retaliation. Oil markets shrugged off Iran's attack on Israel as the market assessed the conflict would remain contained.

Persons: —, Israel didn't, Israel, Kyle Rodda, Rodda Organizations: Service, Brent, US West Texas, Business, ING, Stock Locations: East, Israel, Iran, Iran's, Damascus, Syria

☆ Oil prices get short-lived boost from attack on Iran
▼ + stars: | 2024-04-19 | by ( Laura He | Olesya Dmitracova | ) edition.cnn.com time to read: +4 min

Brent crude, the global oil benchmark, was down 0.4% at $86.8 per barrel, having earlier spiked more than 3%. The Israeli military has not commented, and Iran has not identified the source of the attack. Iran launched the attack in retaliation for a suspected Israeli strike on its embassy compound in Syria earlier this month. Iran is a big oil producer but exports most of its crude to China because of long-standing international sanctions. Mexico also said earlier this month that it would cut back oil exports because of strong domestic demand.

Persons: Brent, Israel, Benjamin Netanyahu, ”, ” Neil Shearing, Richard Bronze Organizations: London CNN, CNN, Capital Economics, Organization of, Petroleum, ANZ, United, Nikkei, Kospi, Tel Aviv Stock Exchange Locations: Hong Kong, London, Iranian, Isfahan, East, Iran, Syria, Hormuz, China, United States, Mexico, Asia, Israel, Tel Aviv

☆ Asia markets extend declines amid Iran-Israel tensions; China economic data on deck
▼ + stars: | 2024-04-16 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

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

☆ Morgan Stanley names global ‘alpha’ stock ideas for April — and gives one nearly 30% upside
▼ + stars: | 2024-04-16 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +2 min

Looking ahead, those searching for pockets of opportunities in the region can look to Morgan Stanley's selection of "alpha" stocks. Among the "notable top-ranked stock ideas" on its list is South Korean commercial bank Hana Financial Group. "Our Korea Financial analyst, Joon Seok ... believes large-cap banks are key beneficiaries of the corporate reform theme," Morgan Stanley's analysts said. Here are 10 stocks from Morgan Stanley's full list of top overweight-rated stocks for April. Notable bottom-ranked stocks Morgan Stanley named its "notable bottom-ranked stock ideas."

Persons: India's, Morgan Stanley's, Joon Seok, Morgan, Joon, Morgan Stanley, Santos, — CNBC's Michael Bloom Organizations: Japan's Nikkei, CSI, Alpha, Japan, Hana Financial, Korea Financial, Financial Services, Novatek Microelectronics, Analysts, Morgan, Berger Paints Locations: India, Japan, China, Asia, Pacific, Korean

☆ Three ways investors can minimize their tax payments
▼ + stars: | 2024-04-15 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

It’s particularly difficult for investors, he said, who have to report their earnings and losses from the market to the IRS. As an alternative, Harris, who currently heads financial services firm Evergreen Money and recently authored a book about reducing tax burdens, shared his three biggest tax tips for investors with Before the Bell. So for tax purposes, selling securities that have lost value can offset the taxes due on gains from successful investments. If your losses exceed your gains, you can carry the net loss (total losses minus total gains) into the next tax year, potentially reducing future tax burdens. If you have three children and two parents, that’s $108,000 in tax free money a year, Harris said.

Persons: They’ll, ”, Bill Harris, It’s, Harris, “, Roth, hasn’t, “ you’re, Laura, Anna Cooban, Brent, Germany’s DAX, Read, Tempore Mike McGuire Organizations: New, New York CNN, National Taxpayers Union Foundation, Paypal, CNN, Evergreen Money, Bell, Investments, Brent, Traders, CAC, FTSE, Nikkei, International Energy Agency, ANZ, Google, California Journalism, Meta, California, Pro, Tempore, ” Locations: New York, United States, Israel, Iran, Tehran, Syria, Shanghai, Paris, California, America

☆ Apple CEO Tim Cook visits Vietnam — one of the iPhone giant's most important manufacturing hubs
▼ + stars: | 2024-04-15 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Cook will meet with Apple users, developers and content creators during the two-day visit, local media reported. In December, the Nikkei reported Apple was moving some of its key iPad engineering resources to Vietnam. Apple CEO Tim Cook (C) walks near Hoan Kiem lake in downtown Hanoi during his visit to Vietnam on April 15, 2024. India has also emerged as a key hub for iPhone manufacturing. Cook's visit to Vietnam comes after 61 environmental and human rights groups called on Apple to oppose the country's detention of climate activists.

Persons: Tim Cook, Cook, Bryan Ma Organizations: Apple, International Data Corporation, IDC, Samsung, Nikkei, Apple Watch, Getty, CNBC, Bloomberg Locations: Hanoi, Vietnam, U.S, China, Cupertino, Hoan, Giang Huy, Afp, India, iPhones

☆ Gold prices rise, Asian markets fall after Tehran’s attack on Israel
▼ + stars: | 2024-04-14 | by ( Laura He | ) edition.cnn.com time to read: +2 min

It had hit an all-time high of $2,431 per ounce on Friday because of fears of a potential attack by Iran on Israel. US gold futures also added 0.1% on Monday. The Middle East was plunged into uncharted waters after Iran launched scores of missiles toward Israel late Saturday. Before Iran’s attack, US stocks ended Friday sharply lower, as Wall Street worried about escalating tension in the Middle East. Dow futures rose 80 points, or 0.2%, in Asian hours on Monday.

Persons: Kospi, Brent, Joe Biden Organizations: Hong Kong CNN —, Nikkei, ANZ, Dow, Nasdaq Locations: Hong Kong, Iran, Israel, Shanghai, Syria, East

☆ Vietnam wants to take China's place as a new factory of the world — but a $12 billion financial fraud case is getting in the way
▼ + stars: | 2024-04-12 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Vietnamese real-estate tycoon Truong My Lan was sentenced to death for her role in a $12.5 billion fraud case. Lan's fraud case is part of Communist Party Secretary Nguyen Phu Trong's corruption crackdown. Lan, the chairwoman of real-estate developer Van Thinh Phat Group, was arrested in 2022 over the fraud case. AdvertisementThe high-profile fraud case has scandalized the country and is raising questions about the one-party state. For context on the scale of the Vietnam fraud case, consider the 1MDB case, which rocked Malaysia and the world when it started to unravel in 2015.

Persons: Truong, Lan, Communist Party Secretary Nguyen Phu, —, Van Thinh, Zachary Abuza, Trang Bui, Bui Organizations: Communist Party Secretary, Service, Prosecutors, Vietnamese Communist Party, National War College, Washington DC, Bloomberg, Cushman, Nikkei Locations: Vietnam, China, Malaysia, Malaysian, Hanoi, Washington, Wakefield

☆ Microsoft is about to pump billions more into AI data centers
▼ + stars: | 2024-04-09 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +1 min

Microsoft plans to invest $2.9 billion in AI data centers in Japan by 2025, according to reports. In November, Microsoft announced it'd spend roughly $3 billion on AI data centers in the UK. AdvertisementMicrosoft is investing some serious capital in new AI data centers, and Japan is the latest country to benefit. The tech giant plans to pour $2.9 billion into AI data centers in Japan by 2025, according to reports in Reuters and Nikkei Asia. As part of its investment — the company's largest ever in Japan — Microsoft will place advanced AI semiconductors in two of Japan's existing data centers, Nikkei Asia reported.

Persons: it'd, — Organizations: Microsoft, Service, Nikkei, Business Locations: Japan, Nikkei Asia

☆ Asia markets climb as U.S. Treasury yields pressure Wall Street; data from Australia and Japan on deck
▼ + stars: | 2024-04-09 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

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

☆ China concerns bring new unity to once-turbulent US-Japan-Philippines relationship ahead of major White House summit
▼ + stars: | 2024-04-08 | by ( Brad Lendon | ) edition.cnn.com time to read: +11 min

Both the Philippines and Japan are US defense treaty allies, and the US military retains permanent bases in Japan and has base rights in the Philippines. That threat is manifested in three key areas – Taiwan, the South China Sea and the Japanese-controlled Senkaku Islands in the East China Sea, analysts say. Here's why 03:27 - Source: CNNJapan and Philippines both have separate territorial disputes with China, in the former’s case the Senkaku Islands in the East China Sea and in the latter’s areas of the South China Sea. Meanwhile, China claims the shoal, which is in the Philippines’ exclusive economic zone, as its sovereign territory, as it does much of the South China Sea, in defiance of an international arbitration ruling. “Alliance building is the most practical way to deal with China’s moves” in the South China Sea, he said.

Persons: ”, James D.J, Brown, Joe Biden, Fumio Kishida, Ferdinand Marcos Jr, Xi Jinping, Biden, Micah Jeiel Perez, Marcos, Kishida, ” Marcos, Shinzo Abe, Ricardo Jose, ” Jose, Thomas, CNN Marcos, Shoal, China –, Masaharu Homma, –, Perez, Rodrigo Duterte, Marcos Jr’s, Duterte, Thomas Shoal, Veejay Villafranca, Robert Ward, BRP Antonio Luna, you’ve, Donald, Trump, ” Brown, “, Ward Organizations: South Korea CNN, White, Temple University, Japanese, Taiwan –, Communist Party, Taiwan Relations, University of, Nikkei Asia, University of the, “, CNN, East China, Philippine, China Coast Guard, US, US State Department, Gen, “ Alliance, Clark Air Base, Naval, Bloomberg, Getty, International Institute for Strategic Studies, Cooperative, Philippine Navy, BRP, Royal Australian Navy, Self, Defense Forces, JS Akebono, US Navy, USS, Multilateral Maritime Cooperative, Armed Forces, AP Analysts Locations: Seoul, South Korea, United States, Japan, Philippines, China, Tokyo, Philippine, Taiwan, Washington, South, Senkaku, East China, University of the Philippines, CNN Japan, East, South China, Palawan, China – Washington, Beijing, Spain, Spanish, Imperial Japan, New Orleans, Bataan, Subic, Manila, US, Australia, India, Vietnam, Warramunga, IISS

☆ 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

☆ European markets set to open mixed in lackluster short trading week; fresh euro zone data due
▼ + stars: | 2024-04-05 | by ( Karen Gilchrist | ) www.cnbc.com time to read: 1 min

European markets look set for a mixed open on Friday as investors wrap up a lackluster first trading week of the new quarter. Markets have struggled to gain traction this week, with the Stoxx 600 index closing just slightly higher Thursday. During Friday's session, investors will digest fresh data on euro zone construction and retail sales, as well as U.K. house prices. Markets in Asia-Pacific moved lower Friday, led by declines for Japan's Nikkei 225, after comments from U.S. Federal Reserve officials fueled worries that the central bank could hold off on rate cuts. U.S. stock futures also turned lower on the comments, with the Dow Jones Industrial Average having notched its worst trading day in more than a year Thursday.

Organizations: Nikkei, U.S . Federal Reserve, Dow Jones Locations: Asia, Pacific, U.S

☆ Companies in Japan are offering workers with bad allergies subsidized trips to low-pollen destinations
▼ + stars: | 2024-04-04 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +4 min

AdvertisementSome employers in Japan are offering "tropical escape" programs, where workers with bad seasonal allergies get subsidized trips to regions with lower pollen counts, according to The Washington Post. Such programs are seen as a way to enhance worker productivity in Japan, where hay fever is much more prevalent than in the US. It started in 2022 because its CEO has bad hay fever. In Japan, hay fever is not only a public health concern but also a challenge to the economy. In February, Japan's Prime Minister Fumio Kishida described hay fever as a "national disease" that negatively impacts productivity.

Persons: —, Naoki Shigihara, Aisaac, Fumio Kishida, Mitsuhiro, Okano Organizations: Washington Post, Service, The Washington Post, Post, Business, The Japan, country's Ministry of Environment, Centers for Disease Control, Japan Times, Japan's, Chiba Prefecture's International University of Health, Welfare Narita Hospital, Nikkei Locations: Hay, Japan, Okinawa, Hawaii, Guam, Tokyo, Chiba, Nikkei Asia

☆ Rescue teams in Taiwan have airlifted 928 pounds of food to a mining area where 64 people remain trapped after an earthquake
▼ + stars: | 2024-04-04 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

Taiwanese authorities said they've airlifted 928 pounds of food to people stuck at a quarry. Sixty-four people were reported trapped at Heping Mine after a 7.2-magnitude earthquake hit Hualien county. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementRescue authorities in Taiwan said they'd airlifted about 928 pounds of food to a mining area where dozens are still trapped due to a 7.2-magnitude earthquake. The self-governed island's National Airborne Service also deployed drones to survey the Heping Mine region, where 64 people are believed to be stuck, officials from the Emergency Operations Center said on Thursday morning.

Persons: they've, —, they'd, It's Organizations: Service, Airborne Service, Emergency, Wednesday, Taiwan Semiconductor Manufacturing, Nikkei, TSMC Locations: Hualien, Taiwan, a.m, Taipei

☆ 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 fantastic market': Strategist names one under-the-radar stock to play in Japan right now
▼ + stars: | 2024-04-03 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +1 min

Several investors have been looking favorably at Japanese stocks in the past few months, and market strategist Matt Orton is no exception. "Japan overall, has been a fantastic market ... Japan was the top performer within the Asian equity market complex," the chief market strategist at asset management firm Raymond James Investment Management told CNBC's " Squawk Box Asia " on April 1. One stock that stands out to Orton is Sumitomo Mitsui Financial Group . Of the 14 analysts covering the stock, 10 give it a buy or overweight rating, while four have a hold rating, according to FactSet data. Analysts' average price target for the stock is 9,537.50 Japanese yen ($62.89), giving it around 11% potential upside.

Persons: Matt Orton, Raymond James, CNBC's, levered, they've, Orton Organizations: Raymond James Investment Management, Japan's Nikkei, Tokyo Exchange, Orton, Sumitomo Mitsui Financial Group, Sumitomo Locations: Japan, Tokyo, Indonesia, India, Vietnam, Philippines

☆ Asia markets fall as shares of electric vehicle makers in focus
▼ + stars: | 2024-04-03 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

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

The 2024 Sohn Investment Conference took place in New York took place Wednesday, with a slew of hedge fund managers highlighting their top ideas. Here are some of the top picks mentioned: Vijay Shilpiekandula, Dilation Capital Investment Idea: ASML Vijay Shilpiekandula of Dilation Capital, who was named the Sohn Idea Contest Winner, presented ASML as his best stock idea. Jesse Cohn, Elliott Investment Management Investment Idea: Etsy E-commerce platform Etsy is an undervalued company, according to Elliott Investment Management managing partner Jesse Cohn. Seth Fischer, Oasis Management Investment Idea: Kao There's an underappreciated buying opportunity in Japanese global chemicals company Kao, according to Seth Fischer, founder and CIO at Oasis Management. David Einhorn, Greenlight Capital Investment Investment idea: Solvay Greenlight's David Einhorn unveiled Solvay as his top investment idea , saying the European chemicals company is a market leader with an attractive valuation.

Persons: Vijay Shilpiekandula, Vijay, ASML, Shilpiekandula, Jesse Cohn, Etsy, Cohn, Seth Fischer, Kao, Fischer, David Einhorn, Solvay, Einhorn, Michael Buckley, Natera, Buckley, Mohammed Anjarwala, Carpenter, Anjarwala Organizations: Elliott Investment Management Investment, Elliott Investment Management, Body, Oasis Management Investment, Oasis Management, Nikkei, Greenlight Capital Investment Investment, Solvay, Duquesne Family, Duquesne Family Office, Global, Technology Carpenter Technology, Boeing, Airbus Locations: New York, Europe, Bath

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