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☆ Asia's top 4 up-and-coming rental markets that may be challenging traditional property hubs
▼ + stars: | 2024-05-31 | by ( Ernestine Siu | In Ernestinesiu | ) www.cnbc.com time to read: +3 min

Bangkok, Thailand has seen an 18.1% growth in residential rental prices on a year-on-year basis, according to JLL. Alexander Spatari | Moment | Getty ImagesSingapore and Hong Kong are generally considered Asia's more vibrant real estate markets. But some up-and-coming cities are giving these traditional hubs a run for their money, with some even beating them on rental yields. The following four cities have led the recovery in rental growth in Asia so far this year:Bangkok, ThailandResidential rental growth in Q1 2024 (y/y): +18.1% Average price to rent: THB 8,292 (about $226) per square meter annually "Rental demand has been surging in Bangkok," Allan said. This rental growth has been influenced by the stronger rent prices recorded in new high-quality offerings in the city, according to the report.

Persons: JLL, Alexander Spatari, Hong Kong, Roddy Allan, Allan, Ho Organizations: Getty Images, realty, Pacific Chief, CNBC Locations: Bangkok, Thailand, Getty Images Singapore, Hong Kong, Hong, Ho Chi Minh City, Jakarta, Manila, Asia, Pacific, expats, Vietnam, Indonesia, Philippines

☆ Japanese stocks are rallying this year. But one key group of investors is missing
▼ + stars: | 2024-05-24 | by ( Hakyung Kim | ) www.cnbc.com time to read: +6 min

Japanese stocks are enjoying a banner year, with foreign investors plowing into the market. Japanese investors are hesitant Japanese investors have long been skeptical of the local stock market after the asset price bubble burst in the early 1990s. Another reason Japanese investors may not be as keen on their domestic market could be the yen falling sharply. Outlook for Japanese stocks still strong Despite the recent bout of selling from local investors and the market's recent struggles, many global investors remain bullish on Japanese stocks. This is another "slow-moving but important tailwind to Japanese stocks," with more room to run, according to Zachary Hill, Horizon Investments head of portfolio management.

Persons: Goldman Sachs, Morgan Stanley, Kishida, Julian McManus, Janus Henderson, Bernstein, Zachary Hill, Raymond Chan, Chan, McManus, he's, Warren Buffett Organizations: Japan Exchange Group, Nikkei, Bank of Japan, U.S ., Ministry of Internal Affairs and Communications, Investment, Association, Prime, Nippon, Savings, U.S, Horizon Investments, Federal Reserve, Asia Pacific, Allianz Global Investors, Mitsui, Itochu, Sumitomo Locations: U.S, Japan, Asia

☆ Bank of Japan needs to hike rates again as they're at an 'absurdly low level,' economist says
▼ + stars: | 2024-04-26 | 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 EmailBank of Japan needs to hike rates again as they're at an 'absurdly low level,' economist saysRob Carnell, Asia-Pacific chief economist and head of research at ING, says the central bank has its "work cut out" for it.

Persons: Rob Carnell Organizations: Email Bank of Japan, ING Locations: Asia, Pacific

☆ East Asia's growth is faster than the rest of the world but China headwinds weigh, World Bank says
▼ + stars: | 2024-04-01 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

As inflation continues to impact global economies, Asia-Pacific is the only region that will see real salary growth in 2023, according to ECA International. Growth in developing East Asia and Pacific is outpacing the rest of the world, but the region will likely see slower growth in 2024 amid headwinds in China and broader policy uncertainty, according to the World Bank. "It is a region that is still outperforming the rest of the world, but it is underachieving relative to its own potential," Aaditya Mattoo, East Asia and Pacific chief economist at the World Bank, told CNBC's "Street Signs Asia" on Monday. Growth in the region is expected to ease to 4.5% this year, slowing from last year's 5.1% expansion, according to the bank's East Asia and Pacific (EAP) update for 2024, which was released Monday. However, excluding China, growth in the region is predicted to reach 4.6% this year — higher than 4.4% in 2023.

Persons: CNBC's Organizations: ECA International, World Bank Locations: Asia, Pacific, East Asia, headwinds, China

☆ The developing East Asia and Pacific region is 'underachieving,' World Bank economist says
▼ + stars: | 2024-04-01 | 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 EmailThe developing East Asia and Pacific region is 'underachieving,' World Bank economist saysAaditya Mattoo, the World Bank's East Asia and Pacific chief economist, says "it is a region that is still outperforming the rest of the world, but it is underachieving relative to its own potential."

Persons: Aaditya Mattoo Organizations: World Bank Locations: East Asia, Pacific

☆ Taylor Swift is making Singapore a mountain of money, and some of the country's neighbors are salty about it
▼ + stars: | 2024-03-04 | by ( Huileng Tan | ) www.businessinsider.com time to read: +6 min

Edwin Tong, Singapore's culture minister, told local outlet Mothership on February 28 that the amount of grant given "is not what is being speculated online." As Tong, the Singapore culture minister, told Mothership, the city-state is looking "beyond just the economic impact" of Swiftonimics. Economists estimate that Swift's concerts in Singapore could contribute up to 500 million Singapore dollars, or $372 million, in tourist receipts. AdvertisementIt's a different story for spending on experiences — and it's heightened because Singapore is Swift's only stop in Southeast Asia. Mann said the people who have money to pay for flight tickets, Swift's concert tickets, and a hotel are likely to keep spending at other tourist spots.

Persons: —, Taylor Swift, Srettha, Edwin Tong, Swift, it's, Yun Liu, Tong, Kevin Cheong, David Mann, Mann, Coldplay, Si Ying Toh, Cheong, Joey Salceda, Sandiaga Salahuddin Uno Organizations: Service, Business, HSBC, Asia Pacific, Mastercard, Nomura, Philippine Star, Bloomberg, Vegas Locations: Singapore, Southeast Asia, British, Thailand, Bangkok, Indonesia, Sands

☆ Strategist discusses the outlook for China markets and economy
▼ + stars: | 2024-02-07 | 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 EmailConfidence boost needed among China's potential homebuyers and entrepreneurs: StrategistTai Hui, Asia-Pacific chief market strategist at J.P. Morgan Asset Management, says that's what required for the country's economy to "recover on a stronger footing."

Persons: Tai Hui Organizations: Morgan Asset Management Locations: Asia, Pacific

☆ China is stepping up to save its economy this year, but the data just doesn't seem to be getting much better
▼ + stars: | 2024-02-01 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

In January, authorities pulled about a dozen moves to stabilize a stock market rout and to support the property sector. But China's economic data isn't encouraging, and investor confidence is still low. Investors are cautiousThe moves gave some support to Chinese markets, but investors are still cautious. China's economic data hasn't been rosy either. Consumer appetite for property is still lowStill, overall consumer appetite for the property market appears to be in the dumps.

Persons: —, Hao Hong, Premier Li Qiang, Hong, Min Lan Tan, Tan Organizations: Service, Bloomberg, Grow Investment, Premier, Reuters, Investors, CSI, Securities Times, Estate Information Corp, Asia Pacific, UBS, Nikkei Locations: China, Beijing, Shanghai, Shenzhen, Guangzhou, Suzhou, Guangxi, Nikkei Asia

☆ Why the U.S. may extend its run as the world's leading economy
▼ + stars: | 2024-01-10 | by ( Carlos Waters | In Carloswaters | ) www.cnbc.com time to read: +3 min

The U.S., China and India may take turns leading the global economy this century, according to an analysis from the Centre for Economics and Business Research. The CEBR forecast suggests China could potentially take the top spot as the world's largest economy by gross domestic product as early as 2037. "The ranking of which is the largest economy in the world — that doesn't take into account things like living standards. Around the world, policymakers are spending large sums of public funds to prepare for social and environmental challenges that may be ahead. Watch the video above to learn more about the race to be the world's largest economy.

Persons: Nina Skero, Mariana Mazzucato, we're, China that's, Joe Biden, Xi Jinping, Yasheng Huang, Rajiv Biswas Organizations: U.S, Centre for Economics, Business Research, University College London, Washington, MIT Sloan School of Management, P Global Market Intelligence, CNBC Locations: China, India, U.S, Japan, South Korea, Asia, Pacific

☆ China ramps up yuan internationalisation under Belt and Road Initiative
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +4 min

[1/2] A China yuan note is seen in this illustration photo May 31, 2017. And funding BRI projects has helped China revitalise the once-stalled process of yuan internationalisation. Another policy bank, the Export-Import Bank of China, signed a yuan-based loan agreement with Saudi National Bank, while Bank of China helped Egypt issue Africa's first yuan-denominated Panda bonds. Beijing also allocated an additional 80 billion yuan ($10.94 billion) to its Silk Road Fund for BRI projects. "Can you do this in a targeted way with MOUs with all BRI countries?

Persons: Thomas White, Vladimir Putin, Xi, Alicia Garcia Herrero, China revitalise, Malaysia's Maybank, Haoxin Mu, Natixis, Garcia Herrero, Samuel Shen, Tom Westbrook, Simon Cameron, Moore Organizations: REUTERS, Rights, Initiative, Forum, Asia Pacific, Natixis, China International Capital Corp, China Development Bank, BBVA, Export, Import Bank of China, Saudi National Bank, Bank of, Fund, Thomson Locations: China, Rights SHANGHAI, SINGAPORE, Beijing, Russia, Asia, U.S, Ukraine, Africa, Europe, Egypt's, BBVA Peru, Bank of China, Egypt

☆ Asian shares slip after brutal central bank week, yen in focus
▼ + stars: | 2023-09-25 | by ( Stella Qiu | ) www.reuters.com time to read: +5 min

A passerby walks past an electric monitor displaying various countries' stock price index outside a bank in Tokyo, Japan, March 22, 2023. S&P 500 futures , however, rose 0.3% while Nasdaq futures gained 0.4%, after Hollywood's writers union reached a preliminary labor agreement with major studios. In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) dropped 0.5%, edging back to a 10-month low plumbed just last week. U.S. central bank officials will be out in force this week, starting with Minneapolis Fed President Neel Kashkari on Monday. Brent crude futures rose 0.6% to $93.79 per barrel.

Persons: Issei Kato, Kazuo Ueda, HSI, Louis Kuijs, Neel Kashkari, Andrew Lilley, Stella Qiu, Himani Sarkar, Jacqueline Wong Organizations: REUTERS, Bank of Japan, Nasdaq, Japan's Nikkei, Hengda, Estate Group Co, U.S, Minneapolis, European Central Bank, Brent, . West Texas, Thomson Locations: Tokyo, Japan, Europe SYDNEY, China, U.S, Europe, Asia, Pacific, firming, U.S . Federal

☆ Asian shares fall after brutal central bank week, yen under spotlight
▼ + stars: | 2023-09-25 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

A passerby walks past an electric monitor displaying various countries' stock price index outside a bank in Tokyo, Japan, March 22, 2023. The yen was jittery near the closely watched 150 per dollar level amid intervention fears, after the Bank of Japan made no change to its dovish monetary policy. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) dropped 0.6%, edging closer to a ten-month low plumbed just last week. Bruce Kasman, chief economist at JPMorgan, expects good news from U.S. and European inflation results this week, which should show low core inflation readings. The yen last traded at 148.41 per dollar, after hitting a fresh 10-month low of 148.49 earlier in the day.

Persons: Issei Kato, Kazuo Ueda, Hong, HSI, Louis Kuijs, Andrew Lilley, Bruce Kasman, Stella Qiu, Sonali Paul, Himani Organizations: REUTERS, Rights, Bank of Japan, Japan's Nikkei, U.S, JPMorgan, U.S ., Brent, . West Texas, Thomson Locations: Tokyo, Japan, China, U.S, Europe, Asia, Pacific, U.S . Federal

☆ India's 'massive expansion' set to be a key driver of global economic growth
▼ + stars: | 2023-09-08 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

Frank Bienewald | Lightrocket | Getty ImagesSINGAPORE — India's stellar economic trajectory alongside strong forecasts for some Southeast Asian countries will be important drivers for global growth, said S&P Global Insights. Asia-Pacific is a "key driver" for global economic growth not just in the near term, but over the longer run as well, S&P Global's Asia-Pacific chief economist Rajiv Biswas said at the annual energy APPEC conference. India's very robust actually… the momentum in the economy looks really quite strong at the moment. Rajiv Biswas Global Asia-Pacific Chief Economist at S&P GlobalAs a region, Asia-Pacific's growth is expected to strengthen from 3.3% last year to 4.2% this year, according to S&P's projections. "Over the next decade, we expect that about 55% of the total increase in [the] world's GDP will come from the Asia-Pacific region," he said.

Persons: Frank Bienewald, Rajiv Biswas, Biswas Organizations: Lightrocket, Getty, SINGAPORE, Southeast Asia —, Rajiv Biswas Global, Pacific Locations: India, Asia, Pacific, Indonesia, Philippines, Vietnam, Southeast Asia, Rajiv Biswas Global Asia, China

☆ Stocks stall as US rates seen higher for longer
▼ + stars: | 2023-06-15 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

Committee members surprised markets by projecting two more 25 basis point hikes this year, sending short-term U.S. yields higher and closing out bets on any cuts in 2023. "The market takeaway was that rates would stay high for longer, rather than spike upwards in line with the shift in projected Fed funds rate." Two-year Treasury yields jumped as much as 13.5 bps in the session, before settling two bps higher at 4.69%. China cut a key benchmark, its medium-term loan rates, by 10 bps and the yuan hit a six-month low of 7.1783 per dollar. That likely confirms an end to rate hikes and the kiwi was last down 0.7% at $0.6163.

Persons: Jerome Powell, Steve Englander, Powell, Tai Hui, Bitcoin, Shri Navaratnam Organizations: ECB SINGAPORE, U.S . Federal Reserve, Fed, Central Bank, Nikkei, Standard Chartered, Morgan Asset Management, New Zealand, ECB, Bank of Japan, Brent, Thomson Locations: China, New Zealand, U.S, Asia, Pacific, Japan, New York, CHINA, Beijing

☆ 'Big money never buys cheap': Why investors are waiting on Japan
▼ + stars: | 2023-05-18 | by ( Summer Zhen | ) www.reuters.com time to read: +5 min

Yet for many, the lofty milestones are a reminder that Japan's stocks have gone sideways for years, making many foreign asset allocators reluctant to venture into the market. "A very significant inflow from global investors (followed)," Powell said, "but then unfortunately, a lot of the enthusiasm has dissipated." Swiss wealth manager Union Bancaire Privée is also underweight Japan, with the policy outlook presenting currency risks. BIG MONEY WAITINGThe policy and communication challenge for new BOJ governor Kazuo Ueda is a tricky one. "Big money never buys cheap, it buys momentum."

☆ Analysis: 'Big money never buys cheap': Why investors are waiting on Japan
▼ + stars: | 2023-05-18 | by ( Summer Zhen | ) www.reuters.com time to read: +5 min

☆ Another cultish cost-saving formula gets off-track
▼ + stars: | 2023-03-29 | by ( Jeffrey Goldfarb | ) www.reuters.com time to read: +9 min

Despite its multiple interpretations and approaches, success is widely gauged by a railway’s operating ratio, a simple measure of how much it spends to make a buck. Union Pacific’s peers improved similarly, indicative of the antiquated ways the industry had been deploying resources. Union Pacific also found itself unable to bring back enough furloughed workers in areas where they were most needed. “In a significant departure from the railroad industry's recent past, we deliberately moved away from a singular focus on operating ratio,” he told lawmakers. “If we wanted to drive [operating ratio] lower over time, we could,” the board wrote in a letter to shareholders in late 2021.

☆ Brookfield consortium trims offer for Australia's Origin Energy to $10.5 billion
▼ + stars: | 2023-02-21 | by ( Scott Murdoch | Thomson Reuters | Scott Murdoch Has Been A Journalist For More Than Two Decades Working For Thomson Reuters | ) www.reuters.com time to read: +3 min

Feb 22 (Reuters) - A Brookfield-led consortium trimmed its offer for Origin Energy by 1% on Wednesday, valuing Australia's no.2 power producer and energy retailer at A$15.33 billion ($10.5 billion), after government moves to cap gas prices hit valuations in the sector. The consortium's first offer in November of A$9 per share was a near 55% premium to its previous close and valued Origin A$15.5 billion. Argo Investments, Origin's ninth largest investor, said the revised offer was still good value for the takeover target. The revised offer comprises A$8.90 apiece for the first 100,000 Origin shares. Almost 75% of Origin's shareholders own fewer than 100,000 shares, according to its annual report.

☆ Mexico Pacific to sell LNG from Sonora export plant to Exxon Mobil
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +1 min

Feb 7 (Reuters) - Mexico Pacific said on Tuesday that a unit of Exxon Mobil Corp (XOM.N) had agreed to buy liquefied natural gas from the Mexican company's proposed Saguaro Energia LNG export plant in Sonora state. Mexico Pacific also said ExxonMobil has an option for 1 MTPA from Train 3 at the plant. One MTPA of LNG is about the same as 0.13 billion cubic feet per day of natural gas. The proposed three-train Saguaro Energia LNG facility is designed to produce about 14.1 MTPA of LNG from natural gas sourced from the Permian Basin in Texas and New Mexico. "We look forward to working with Mexico Pacific to continue growing ExxonMobil's LNG portfolio and deliver Permian natural gas to global markets," said Peter Clarke, senior vice president of LNG for ExxonMobil Upstream Co.

☆ The U.S. Fed's smaller rate hike brings dollar strength closer to its end
▼ + stars: | 2023-02-02 | by ( Jihye Lee | ) www.cnbc.com time to read: +2 min

Kacper Pempel | ReutersThe U.S. dollar index continued to slump on Thursday as the Federal Reserve opted for a smaller interest rate hike of 25 basis points. The DXY fell 0.3% during Asia's morning session to 100.91, hovering at the lowest levels that it's seen since April 2022, according to Refinitiv data. watch nowThe turnaround in the dollar index will benefit currencies in the region, said Deutsche Bank International Private Bank's Asia-Pacific chief investment officer, Stephanie Holtze-Jen. "The relentless dollar strength, we will see an end to it," Holtze-Jen told CNBC's "Street Signs Asia." More data aheadStandard Chartered Bank's managing director Steven Englander said Friday's jobs data will be in focus for the dollar index.

Goldman Sachs forecasts 16% index returns for MSCI China (.dMICN00000PUS) and CSI300 (.CSI300) next year and recommends an overweight allocation to China, while J.P.Morgan expects a 10% potential upside in MSCI China in 2023. Morgan Stanley upgraded its recommendation to overweight on Monday with an increase in exposure to consumer stocks as reopening prospects improve. Bank of America Securities turned bullish in November, with its China equity strategist, Winnie Wu picking internet and financial stocks to lead the short-term rebound. "We have experienced several rounds of policy back and forth in 2022," she added, referring to both COVID and property policies. UBS Global Wealth Management recommends a market-neutral allocation to Chinese stocks.

☆ When the chips go up: Big banks bet on S. Korea, Taiwan stocks for 2023
▼ + stars: | 2022-12-01 | by ( Harish Sridharan | ) www.reuters.com time to read: +5 min

Goldman Sachs says South Korean stocks are the bank's top "rebound candidate" for 2023 due to low valuations, made cheaper by a nosediving Korean won, and as companies benefit from an expected recovery in Chinese demand. "We think (Korean stocks) sold off too much in September and August." Morgan Stanley downgraded its view on Indian exposure in October, when it upgraded its recommendation for South Korea. Like South Korea, Taiwan (.TWII) is another heavily-sold and chip-maker dominated market - though tensions with China make some investors a bit less enthusiastic. Meanwhile, Taiwan and South Korea are both geopolitical flashpoints - but analysts argue at least some of that is already in the price.

☆ Alibaba's Singles Day shopping event set to end with subdued sales and no fanfare
▼ + stars: | 2022-11-10 | by ( Casey Hall | ) www.reuters.com time to read: +4 min

[1/4] A delivery worker sorts parcels at a makeshift logistics station ahead of Alibaba's Singles' Day shopping festival, following the coronavirus disease (COVID-19) outbreak in Shanghai, China, November 10, 2022. The Singles Day shopping festival, which despite its name has evolved into a multi-week event, is a key barometer of Chinese retail demand. But Citi predicts rival e-commerce giant JD.com (9618.HK), which also holds a Singles Day shopping event, to fare somewhat better as it is strong in consumer electronics and home appliance offerings which are expected to remain popular. Singles Day has also had contend with the absence of one its two live-streaming mega sales gurus, Viya, who has been offline since being fined for tax evasion. "Alibaba has tried to make (the event) less about just dropping prices," said Mark Tanner, chief executive of Shanghai-based consultancy, China Skinny.

Nov 10 (Reuters) - Origin Energy Ltd (ORG.AX), Australia's no.2 power producer and energy retailer, backed an A$18.4 billion ($11.8 billion) non-binding buyout offer from a consortium led by Canada's Brookfield Asset Management, the companies said on Thursday. The deal sent Origin's share price soaring nearly 40% in early trade to A$8.14. Origin opened its books to the consortium after it raised its offer to A$9 per share in cash, a near 55% premium to Origin's last close of A$5.81. The bid from Brookfield comes after it was rebuffed earlier this year when it led a $3.5 billion takeover offer for Australia's top power producer, AGL Energy (AGL.AX). Under the indicative proposal submitted on Thursday, Brookfield would acquire Origin's energy markets business, while MidOcean Energy, the other consortium partner, would take control of Origin's integrated gas business, including its 27.5% stake in Australia Pacific LNG (APLNG).

☆ Credit Suisse plans to push ahead with China expansion after overhaul
▼ + stars: | 2022-10-31 | by ( Selena Li | ) www.reuters.com time to read: +2 min

As part of the global revamp, Credit Suisse is evaluating its presence in 13 locations in Asia Pacific with an aim to "simplify" operations in each location, Credit Suisse's Singapore-based Asia Pacific chief executive Edwin Low told Reuters, without elaborating. Low said China and Hong Kong, however, will remain brighter spots. A Credit Suisse report in September forecast the number of Chinese millionaires will double by 2026. As part of its China expansion plans, Credit Suisse struck a deal to buy out its Chinese partner in a local securities joint venture last month, at a time when plans of its global overhaul were being deliberated internally. "China will go through ups and downs, but we're giving the opportunity to acquire 100% of Credit Suisse Securities with our full commitment, knowing that the China recovery may not be immediate," Low said.

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