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☆ Asia stocks slip, dollar firms on growth concerns, Fed outlook
▼ + stars: | 2023-09-06 | by ( Kane Wu | ) www.reuters.com time to read: +3 min

REUTERS/Androniki Christodoulou/File Photo Acquire Licensing RightsHONG KONG, Sept 6 (Reuters) - Asia stocks fell on Wednesday after faltering growth in China and Europe heightened concerns about global economic momentum, while the dollar firmed as investors weighed the outlook for Federal Reserve interest rates. MSCI's gauge of Asia Pacific stocks outside Japan (.MIAPJ0000PUS) dipped 0.45%. "The China decline was bigger than expected," said Redmond Wong, Greater China market strategist at Saxo Markets. Manufacturing data from Germany, Britain and the euro zone also showed declines, while their service sectors fell into contraction. "The Europe data were rather weak.

Persons: Androniki, HSI, Redmond Wong, Wong, Australia's, Christopher Waller, John Milroy, Ord Minnett, Brent, Kane Wu, Edmund Klamann, Sam Holmes Organizations: REUTERS, Federal Reserve, Saxo Markets, Nikkei, U.S, BlackRock Investment Institute, Institute for Supply Management, PMI, Thomson Locations: Tokyo, Japan, HONG KONG, Asia, China, Europe, London, U.S, 0520GMT, Asia Pacific, Greater China, Germany, Britain, BlackRock, ., Saudi Arabia, Russia

☆ Asia stocks fall as global growth concerns mount
▼ + stars: | 2023-09-06 | by ( Kane Wu | ) www.reuters.com time to read: +2 min

REUTERS/Androniki Christodoulou/File Photo Acquire Licensing RightsHONG KONG, Sept 6 (Reuters) - Asia stocks fell on Wednesday after weak economic data in China and Europe heightened concerns over global growth, while the dollar firmed as investors weighed the outlook for U.S. interest rates. MSCI's gauge of Asia Pacific stocks outside Japan (.MIAPJ0000PUS) was down 0.5% at 0143GMT. The Hang Seng Index (.HSI) and China's benchmark CSI300 Index (.CSI300) both opened down about 0.3%. Shares in Europe and the U.S. fell on Tuesday over concerns about weak global growth. (This story has been refiled to correct the Reuters Instrument Code of the Hang Seng Index in paragraph 4)Reporting by Kane Wu; Editing by Edmund KlamannOur Standards: The Thomson Reuters Trust Principles.

Persons: Androniki, Australia's, Redmond Wong, Christopher Waller, John Milroy, Ord, Brent, Kane Wu, Edmund Klamann Organizations: REUTERS, Saxo Markets, U.S, Reuters, Thomson Locations: Tokyo, Japan, HONG KONG, Asia, China, Europe, Asia Pacific, 0143GMT, Germany, Britain, Greater China, U.S, Ord Minnett .

☆ Asia stocks fall as weak China data weigh
▼ + stars: | 2023-08-16 | by ( Kane Wu | ) www.reuters.com time to read: +3 min

China reported weaker than expected July activity data Tuesday, accompanied by news that Beijing would no longer publish youth unemployment data. Wong said he was most concerned about month-to-month decline of China's retail sales and weak infrastructure investments, which suggested lack of funding from local governments. China's industrial output and retail sales growth both slowed from a month earlier to a year-on-year pace of 3.7% and 2.5% respectively, missing expectations. If the decline begins to accelerate, it will feed back on weaker consumer confidence and weigh on already feeble retail sales growth. All three major U.S. equity indexes ended Tuesday lower, after a stronger-than-expected report on U.S. retail sales data.

Persons: Issei Kato, HONG KONG, Australia's, Redmond Wong, Wong, Hang, John Milroy, Ord Minnett, Tina Teng, Ord Minnett's Milroy, Brent, Kane Wu, Lincoln Organizations: REUTERS, Japan's Nikkei, Saxo Markets, Dow Jones, Nasdaq, Fed, New Zealand, CMC, Canada, BHP, Thomson Locations: Tokyo, Japan, HONG, Asia, Asia Pacific, China, Beijing, Greater China, Wedneday

Credit Suisse saw more than $200 million net outflows from its U.S. and European managed funds after March 13, Morningstar Direct said on Friday. DBRS Morningstar on Thursday became the first global rating agency to cut the bank's credit score, with a downgrade to "BBB", which still qualifies Credit Suisse as investment grade. Credit Suisse shares are down about 26% this week and poised for their biggest week drop since October 2008 and the global financial crisis. U.S. shareholders of Credit Suisse sued the bank on Thursday, claiming it defrauded them by concealing problems with its finances. Credit Suisse declined to comment on the lawsuit.

☆ Credit Suisse shares fall again, sentiment remains fragile
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +3 min

"While markets are relieved that the Swiss central bank stepped in, sentiment is bound to remain very fragile, particularly as investors will likely worry about the eventual economic impact of aggressive monetary policy tightening by the European Central Bank (ECB)," she added. DBRS Morningstar on Thursday became the first global rating agency to cut the bank's credit score, with a downgrade to "BBB", which still qualifies Credit Suisse as investment grade. Credit Suisse shares are down about 22% this week and poised for their biggest week drop since March 2020 when the COVID-19 crisis wreaked turmoil across world markets. U.S. shareholders of Credit Suisse sued the bank on Thursday, claiming it defrauded them by concealing problems with its finances. Credit Suisse declined to comment on the lawsuit.

☆ Bank rescues ease crisis fears, investors still wary
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +3 min

COMMENTS:KERRY CRAIG, SENIOR STRATEGIST, JPMORGAN ASSET MANAGEMENT"It has been a week of ups and downs for the equity market this week. Then they will take it away gradually and the bank will play out a slow death." ZHIKAI CHEN, HEAD OF ASIA EQUTIES, BNP PARIBAS ASSET MANAGEMENT"The $30 billion deposit injection into First Republic overnight was novel and creative. Its new facility taking eligible securities at par removes the mark to market spiral risk to meet deposits. That said, markets are now suggesting rates hikes may be nearing an end, while inflation continues to rollover."

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