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☆ Bank of Korea not likely to cut interest rates yet, says economist
▼ + stars: | 2024-06-04 | 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 Korea not likely to cut interest rates yet, says economistTrinh Nguyen, senior economist at Natixis, says the central bank "has to balance between financial stability and … that deleveraging cycle."

Persons: Trinh Nguyen Organizations: Email Bank of Locations: Email Bank of Korea

☆ Goldman Sachs names global ‘alpha’ stock ideas — and gives one nearly 60% upside
▼ + stars: | 2024-05-30 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

Those searching for pockets of opportunities in the region can look to Goldman Sachs' selection of "alpha" stock opportunities. Goldman Sachs' list of opportunities include stocks with "deep value" and "defensive growth" characteristics. The company's shares are traded in the First Trust United Kingdom AlphaDEX Fund (1.2% weight) and Goldman Sachs ActiveBeta Europe Equity ETF (0.3%). 'Strong top-line prospects' Growth stocks the Wall Street bank is bullish on include those "with strong top-line prospects at reasonable growth-adjusted valuations." ASML: Goldman said the company has a "multi-decade competitive moat in High NA, which will be extremely difficult to replicate for the next 10-20 years at least."

Persons: Goldman Sachs, JD, Goldman, ASML, CNBC's Michael Bloom Organizations: Alpha, Sports Fashion, International Consolidated Airlines Group, ISS, First, United, AlphaDEX Fund, Equity, U.S . Global Jets ETF, NA, Euronext Amsterdam, Nasdaq Locations: U.S, Danish, Europe, Adyen

☆ Apollo CEO Marc Rowan defends private credit from Jamie Dimon, saying shadow banking 'makes the system safer.'
▼ + stars: | 2024-05-30 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +5 min

Tighter bank lending means more opportunities for private lenders to lend and make outsize returns on their loans. Financial industry titans Jamie Dimon and Marc Rowan have been trading opposing views on the burgeoning sector for the last year. Last year, Rowan responded to Dimon's comments that higher capital requirements for banks had private lenders like Apollo "dancing in the streets." AdvertisementRowan on Thursday responded by saying that the private-credit industry helps reduce systemic risk caused by the traditional banking industry. "Jamie is an amazing representative of the banking industry," Rowan said.

Persons: —, Jamie Dimon, Marc Rowan, Dimon, JPMorgan Chase, Rowan, Apollo, Jamie, Blackstone, — I've, Bernstein, Dimon's Organizations: Service, Financial, JPMorgan, Business, Bank of America Global Research, Apollo Locations: New York City

☆ Here are Wednesday's biggest analyst calls: Nvidia, Apple, First Solar, Netflix, Disney, Cava, Dell, Snowflake & more
▼ + stars: | 2024-05-29 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are the biggest calls on Wall Street on Wednesday: Bernstein reiterates Nvidia as outperform Bernstein said it's sticking with its outperform rating on the stock. " Argus upgrades Berkshire Hathaway to buy from hold Argus said it's getting bullish on shares of Warren Buffett's multinational conglomerate. UBS reiterates First Solar as buy UBS raised its price target on First Solar to $350 per share from $270. Bank of America reiterates Apple as buy Bank of America said it's bullish on top pick Apple and its entry into iPhones with AI. Bank of America reiterates Dell as buy Bank of America raised its price target on Dell to $180 per share from $130.

Persons: Bernstein, Berkshire Hathaway, Argus, it's, Fluence, LBRT, Jefferies, TD Cowen, Medpace, Cowen, Morgan Stanley, JPMorgan, Wells, Baird, MM120, Truist, Dell, Jack Hartung, Cindy Olsen Organizations: Nvidia, Argus, Warren, UBS, Citi, Liberty Energy, United Airlines, Airlines, American Airlines, " Bank of America, Apple, Bank of America, Netflix, Disney, RBC, Eldorado, Eldorado Gold, BTC, Citi downgrades Bank, JPMorgan, Mind, of America, Norwegian Cruise Line Holdings, Dell, Field Locations: Berkshire, U.S, OFS, United, El Paso, Parks, F4Q, CAVA, Chicago

☆ Morgan Stanley picks global stocks to play a $100 billion AI boom, giving one 40% upside
▼ + stars: | 2024-05-20 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

The analysts project that over $100 billion will be channeled toward such "potential investments propel[ling] AI and spur[ring] power demand growth in Asia." Here are three of Morgan Stanley's overweight-rated stock picks with more than 35% upside potential over the next 12 months. Morgan Stanley has a target price of 7.20 Singapore dollars ($5.35) on the Singapore Exchange -listed shares, giving them 36.9% potential upside. GDS Holdings Another Morgan Stanley favorite is Chinese data center developer and operator GDS Holdings . Morgan Stanley has a target price of $13.30 on the Nasdaq-listed stock, which translates to 40% potential upside.

Persons: Morgan Stanley, Morgan Stanley's, Tenaga Nasional Morgan Stanley, — CNBC's Michael Bloom Organizations: Tenaga Nasional, Tenaga, Microsoft, Amazon Web Services, U.S, Global X FTSE, Asia, Malaysian, Industries, Sembcorp, Morgan, Singapore, Sembcorp Industries, GDS, GDS Holdings, ASEAN, Nasdaq Locations: Asia, U.S, Malaysian, Tenaga Nasional, Bursa Malaysia, Malaysia, Singapore, Cambria, China, Japan, Hong Kong, Indonesia

☆ Starbucks gets a price target cut after a brutal quarterly miss and light guidance
▼ + stars: | 2024-04-30 | by ( Jeff Marks | ) www.cnbc.com time to read: +8 min

In Starbucks' international segment, comparable store sales fell 6% and missed estimates of 0.5% growth. The street was looking for flat comparable sales in China, according to FactSet. China comparable sales are expected to decline by a single-digit percentage versus expectations of low single-digit growth in the second quarter through the fourth quarter. Global net new store growth was tweaked down from 6% to 7%. That's due to slower China store openings, which was revised to 12% growth from 13%.

Persons: Laxman Narasimhan, Dunkin, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Revenue, Starbucks, Bros, McDonalds, Wall Street, Global, CNBC, Getty Locations: China, United States, North America, Latin America, Asia, Japan, Manhattan , New York City

☆ Thailand's central bank will act independently and not cave to 'political' pressure, governor says
▼ + stars: | 2024-04-29 | by ( Sumathi Bala | ) www.cnbc.com time to read: +1 min

Political pressure won't force the hand of Thailand's central bank in making its interest rate decisions independently, the country's central bank chief told CNBC on Monday. "The proof is in the pudding," Bank of Thailand Governor Sethaput Suthiwartnarueput told CNBC's "Street Signs Asia." Despite the "clamoring" for rate cuts, the BOT didn't act on it "if we weren't operating independently," he added. The BOT kept the key interest rate steady at 2.50% in its latest policy meeting in April. But the central bank has been facing intense pressure from the government to lower rates, including from the country's Prime Minister Srettha Thavisin, Reuters reported.

Persons: Sethaput Suthiwartnarueput, CNBC's, Srettha Thavisin Organizations: CNBC, Bank of Thailand, country's, Reuters

☆ Here are Tuesday's biggest analyst calls: Nvidia, Tesla, Apple, Roblox, Tesla, Qualcomm, Disney & more
▼ + stars: | 2024-04-23 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Tuesday's biggest calls on Wall Street: Loop initiates MongoDB as buy Loop sees growth accelerating for the developer data platform company. JPM reiterates General Motors and Ford as overweight JPMorgan said the stocks will benefit from "lower commodities & higher production outside China." JPMorgan upgrades Assai to overweight from neutral JPMorgan said it sees improving trends and better visibility for the Brazilian wholesaler. JPMorgan upgrades Roblox to overweight from neutral JPMorgan said it sees a "compelling entry point" for the stock. JPMorgan downgrades Five Below to neutral from overweight JPMorgan downgraded Five Below due to "ongoing macro pressure."

Persons: JPM, JPMorgan, KeyBanc, Wells, D.A, Davidson, Davidson's, Berenberg, Morgan Stanley, Harley, Evercore, it's bullish, it's, Tesla, Rosenblatt, Oppenheimer, Dwight, Key, Truist, Wolfe, Warner, Price Organizations: Motors, Ford, GM, Nvidia, MU, BMO, prem, NICE, JPMorgan, Barclays, Apple, Albertsons, Catalyst Watch, NOVA, Penn Entertainment, PENN, ESPN Bet, Benchmark, Qualcomm, Warner Brothers, Warner, HBO Locations: China, Texas, U.S

☆ Here are Tuesday's biggest analyst calls: Apple, Tesla, Nvidia, Kroger, GM, Super Micro Computer, Rivian, Reddit & more
▼ + stars: | 2024-04-16 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

"We downgrade HON to Hold as we only see 10% upside to our new, lower $215 price target." Goldman Sachs initiates GE Vernova as buy Goldman said it's bullish on the company's electrification opportunity. " Goldman Sachs initiates DraftKings as buy Goldman said the sports betting company is a "revenue compounder." "We initiate coverage on Genius Sports Ltd. (GENI) with a Buy rating and a 12-month price target of $7.50 (40% upside)." Argus upgrades Goldman Sachs to buy from neutral Argus upgraded Goldman Sachs following its earnings report on Monday.

Persons: Evercore, Reddit, JPMorgan, Tesla, Goldman Sachs, Goldman, it's bullish, Wells, Needham, Morgan Stanley, it's, AUNA, William Blair, Cantor Fitzgerald, Klaviyo, Cantor, SYNNEX, Baird, Guggenheim Organizations: Evercore, Nvidia, UBS, Deutsche Bank downgrades Honeywell, Deutsche, Bank of America, of America, JPMorgan, Citi, Coty Citi, COTY, GE Vernova, Genius Sports Ltd, HSBC, Devices, AMD, KR, Apple, Barclays, Tyson, TSN, Emerging Athletic Brands, Crown Holdings, Argus, Goldman, Netflix, Guggenheim, NASDAQ, Deutsche Bank, General Motors, GM

☆ These are Goldman's top tactical stock picks going into earnings season
▼ + stars: | 2024-04-11 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Analysts expect the S & P 500 to have a year-over-year earnings growth rate of 3.2%, FactSet data shows. If that's the case, it would mark the third consecutive quarter of earnings growth. The reporting period could also be a good time for tactical opportunities in the stock market. The bank also expects these names to see sharp moves after posting earnings, based on what the options market shows. The options market implies a 4.1% move for Nasdaq on after the April 25 report is released.

Persons: Goldman Sachs, John Marshall, Goldman, Lizzie Dove, Per Goldman, Toshiya Hari Organizations: JPMorgan Chase, Citigroup, Royal Caribbean Cruises, Nasdaq, Semiconductor, Broadcom Locations: Wells, China, Asia

Morgan Stanley raised its price target on Nvidia, calling for more than 15% upside going forward. — Lisa Kailai Han 5:53 a.m.: Jefferies lowers Tesla price target, cites 'self-inflicted' wounds Tesla's troubles may not be over yet, according to Jefferies. The investment firm kept its hold rating on the electric vehicle maker and lowered its price target to $165 from $185. Jefferies analyst Philippe Houchois also said Tesla is plagued by shifting product priorities. — Lisa Kailai Han 5:53 a.m.: Morgan Stanley raises Nvidia price target Nvidia has already rallied more than 72% in 2024.

Persons: Morgan Stanley, Jefferies, Patrick Cunningham, Erik Fyrwald's, Cunningham, — Lisa Kailai Han, Zillow, John Colantuoni, Colantuoni, Scott Schoenhaus, Schoenhaus, Lisa Kailai Han, Hess, Betty Jiang, CVX, Jiang, Tesla, Philippe Houchois, Joseph Moore, Moore, — Fred Imbert Organizations: CNBC, Nvidia, Citi, Management, & Biosciences, Jefferies, National Association of Realtors, Markets, GDRX, Barclays, Chevron, NVIDIA, AMD Locations: Tuesday's, China

☆ Buy these five stocks with upside potential as April kicks off, Goldman Sachs says
▼ + stars: | 2024-03-30 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Goldman Sachs analysts have named a slew of stocks that could see upside as April rolls in. CNBC Pro combed through Goldman Sachs' research to find the firm's favorite stocks as of late. They include United Parcel Service, Nasdaq, Arcos Dorados , Global Payments and Arista Networks. "Management discussed various initiatives on market penetration and productivity with their impact on revenue and margin growth into 2026," he said. … Management discussed various initiatives on market penetration and productivity with their impact on revenue and margin growth into 2026.

Persons: Goldman Sachs, Arcos Dorados, Thiago Bortoluci, it's, Bortoluci, Alexander Blostein, Blostein, Goldman, Jordan Alliger, Alliger, ANET, …, Arcos, Cameron Bready, Josh Whipple … Organizations: CNBC, United Parcel Service, Nasdaq, Arcos, Global Payments, Arista Networks, Management, UPS, … Management Locations: America, Brazil, Arcos, Atlanta

☆ MicroStrategy's debt-fueled bitcoin purchases helping drive froth, raising risk of downturn, JPMorgan says
▼ + stars: | 2024-03-19 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

"In our mind, these debt-funded bitcoin purchases add froth to the current crypto rally by raising the risk of severe deleveraging in a potential downturn in the future," he added. MicroStrategy raised $604 million from the sale of converts on March 18, and another $800 million on March 8 . The latest purchases mark an acceleration from the fourth quarter pace, when MicroStrategy bought more than $1 billion of bitcoin. Originally launched as an enterprise business software company, Microstrategy has been buying bitcoin and holding them on its balance sheet since 2020. It largely trades as a proxy for the price of bitcoin, and in February of this year leaned into that, rebranding itself a Bitcoin development company.

Persons: JPMorgan's Marko Kolanovic, MicroStrategy, Microstrategy, Kolanovic, bitcoin, — CNBC's Michael Bloom Organizations: Momentum Locations: bitcoin, cryptocurrencies

☆ China says it plans to boost these industries. Stocks to play the trend
▼ + stars: | 2024-03-10 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

"MS' Economics team believes that the announced fiscal package is insufficient to boost the economy as fiscal package remains supply-centric," Wang said. "Policy support for developing advanced production capacity will lead to increased capex in associated value chains like the industrials and IT sectors," the HSBC analysts said. All four stocks are listed in Shenzhen: Inovance — as a seller of factory automation components, Inovance should "benefit from the recovery of the discrete automation market in 2024," the HSBC analysts said. The HSBC analysts expect Innolight to increase its sales of its most advanced product, and introduce an even better product in the fourth quarter. Sanqi Entertainment — HSBC analysts expect this gaming stock can nearly double to 36 yuan a share.

Persons: Steven Sun, Wu Qing, Morgan Stanley, Laura Wang, Wang, Xi Jinping, Michael Bloom Organizations: Beijing, Authorities, HSBC, Finance, Information, Inovance, Naura Tech, Sanqi Entertainment — HSBC Locations: China, HSBC China, Shanghai, Beijing, Chongqing —, Shenzhen

☆ China growth target: Beijing wants to upgrade the economy. Why are investors so skeptical?
▼ + stars: | 2024-03-08 | by ( Laura He | ) edition.cnn.com time to read: +7 min

Hong Kong CNN —Chinese leaders have pledged to achieve an ambitious growth rate this year, while reshaping its economic model to focus on technology innovation. On Tuesday, Premier Li Qiang announced that economic growth target of around 5% for 2024, which he said “will not be easy” to hit, given that a Covid-battered 2022 had provided a lower base of growth for last year. “The level of support is likely too little to rocket the economy to its 5% growth target this year,” said Sarah Tan, an economist at Moody’s, referring to the measures announced by Li Tuesday. “China is walking a tightrope on the fiscal front between infrastructure stimulus and LGFV [local government financing vehicle] deleveraging,” said Goldman Sachs analysts on Wednesday. In order to achieve the ambitious 5% growth target, more specific stimulus is needed, such as increasing manufacturing investments, Liu said.

Persons: Li Qiang, “, ”, Sarah Tan, Li Tuesday, Goldman Sachs, Li, ” Nomura, Xi Jinping, Peiqian Liu, Liu, Pan Gongsheng Organizations: Hong Kong CNN, AFP, Getty, Goldman, Fidelity International, People’s Bank of China, Jefferies Locations: China, Hong Kong, Beijing, ‘, Asia, —

Credit expanded by just 0.4% in the month, according to the Federal Reserve’s monthly credit report released Wednesday. And it still leaves consumers with record levels of credit card debt. Of that, credit card balances grew by $212 billion to $1.13 trillion, while mortgage balances rose by $112 billion to $12.25 trillion. “Credit card and auto loan transitions into delinquency are still rising above pre-pandemic levels,” said Wilbert van der Klaauw, economic research advisor at the New York Fed. Average card balances rose by 10% from a year ago to $6,360, a record.

Persons: ”, Wilbert van der, TransUnion, Michele Raneri, Scott Haymore, “ Deleveraging, Wells Fargo Organizations: Federal, Federal Reserve Bank of New, Auto, New York Fed, millennials, TransUnion, TD Bank Locations: Federal Reserve Bank of New York, Wells Fargo

☆ Here are Wednesday's biggest analyst calls: Apple, Tesla, Alphabet, Microsoft, AMD, Meta, Spotify & more
▼ + stars: | 2024-01-31 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Wednesday's biggest calls on Wall Street: Morgan Stanley reiterates Microsoft as overweight Morgan Stanley raised its price target on the stock to $465 per share from $450 following earnings. Morgan Stanley reiterates Alphabet as overweight Morgan Stanley raised its price target on the stock to $165 per share from $150 and said it's standing by Alphabet shares after earnings on Tuesday. " Bank of America reiterates Meta as buy Bank of America said it's bullish heading into Meta earnings on Thursday. Bank of America reiterates Advanced Micro Devices as buy Bank of America said it's standing by its buy rating following earnings on Tuesday. Morgan Stanley downgrades Sofi to underweight from equal weight Morgan Stanley said in its downgrade of SoFI that it sees too many "near-term revenue headwinds."

Persons: Morgan Stanley, it's, Johnson, William Blair, Roth, Stryker, SYK, Morgan Stanley downgrades Sofi, Baird, Tesla, Elon Musk's, Elon, Wells Organizations: Bank of America, Meta, " Bank of America, Devices, AMD, Citi downgrades Deutsche Bank, Citi, Deutsche, Deutsche Bank, Palo Alto Networks, UPS, Argus, Canaccord, UBS, Informa Tech, UW, Barclays, Verizon, JPMorgan, Apple, GFL, Spotify Locations: GenAI, Georgia

☆ Here are Monday's biggest analyst calls: Nvidia, Netflix, Apple, Micron, Hershey, Dollar Tree, Qualcomm & more
▼ + stars: | 2024-01-29 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

JPMorgan upgrades Dollar Tree to overweight from neutral JPMorgan said in its upgrade of the stock that it's a "self-help" story. Bernstein upgrades Hershey to outperform from market perform Bernstein said in its upgrade of the chocolate maker that market share trends are improving. " Goldman Sachs reiterates Nvidia & Micron as buys Goldman said it's standing by shares of Nvidia and Micron. Bank of America upgrades ZoomInfo to buy from neutral Bank of America said the software company is a "self-help" story. Bernstein reiterates Qualcomm as outperform Bernstein said it's bullish heading into Qualcomm earnings later this week.

Persons: Wells, Jefferies, it's, Evercore, Bernstein, Hershey, Goldman Sachs, Goldman, Raymond James, Sherwin, Williams, Morgan Stanley, William Blair, Morgan Stanley downgrades Brown, Forman Organizations: UBS, Amazon, Amazon Web Services, Citi, Air, Deutsche Bank, TFI, Deutsche, JPMorgan, Warner Brothers Discovery, Microsoft, Meta, YouTube, Nvidia, Micron, MU, Netflix, Barclays, Apple, Colgate, Palmolive, " Bank of America, of America, Beam Therapeutics, Bank of America, Builders, Devices, AMD, Qualcomm Locations: Norfolk Southern, Atlanta

Some of the biggest analyst calls on Monday focused on a dollar store stock and a major U.S. airline. She assigned a $235 price target, which suggests shares could climb about 23.5%. The analyst maintained his buy rating and raised his price target by $30 to $455, which implies 15.4% potential upside from Friday's close. His $175 price target — down from $185 — implies 25.3% downside for the stock from Friday's close. The bank upgraded the airline to buy from neutral, raising its price target to $20 from $14.

Persons: Bernstein, Hershey, Alexia Howard, Howard, —, — Pia Singh, Jefferies, Brent Thill, Morgan Stanley, Norfolk, Ravi Shanker, Shanker, Raymond James Raymond James, Olivia Tong, Tong, Matthew Boss, Said, ̇, Boss, Stephen Trent, Fred Imbert Organizations: CNBC, JPMorgan, Citi, American Airlines, Hershey, Meta, Norfolk, Colgate, Palmolive, CL, American Airlines American Airlines Locations: U.S, Norfolk Southern

☆ China is ramping up stimulus to boost market confidence — but is it enough?
▼ + stars: | 2024-01-25 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Starting Feb. 5, the People's Bank of China will allow banks to hold smaller cash reserves, central bank governor Pan Gongsheng said at a press conference, his first in the role. Cutting the reserve requirement ratio (RRR) by 50 basis points is set to release 1 trillion yuan ($139.8 billion) in long-term capital, the central bank said. A 2 trillion yuan boost? Chinese Premier Li Qiang on Monday called for much stronger measures to boost market stability and confidence, according to an official readout. Chinese authorities in October already announced the issuance of 1 trillion yuan in government bonds, alongside a rare increase in the deficit.

Persons: Gongsheng, Pan Gongsheng, Tao Wang, Ting Lu, a, Lu, Wang, Stocks, Winnie Wu, That's, Li Qiang, Pan, Philip Yin, David Chao, Pan's Organizations: People's Bank of China, State Administration of Foreign Exchange, Financial, Getty, Visual China, People's Bank of, UBS Investment Bank, Wednesday, National Financial Regulatory Administration, UBS, Bank of America's, Bloomberg, PBOC, Citi, U.S, Asia Pacific, CNBC Locations: BEIJING, CHINA, Beijing, China, People's Bank of China, Asia, Hong Kong, capitulating, Japan, Invesco

☆ Here are Thursday's biggest analyst calls: Apple, Netflix, Nvidia, Meta, Rivian, Costco, Hertz, Microsoft & more
▼ + stars: | 2024-01-18 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Bank of America upgrades Apple to buy from neutral Bank of America said AI and Vision Pro should drive upside for Apple. Bank of America reiterates Microsoft as buy Bank of America raised its price target on Microsoft to $450 per share from $430. Guggenheim reiterates Target as buy Guggenheim said Target is well positioned in 2024. Bank of America names Harley Davidson a top pick Bank of America said the motorcycle company is well positioned for 2024. " Bank of America reiterates ServiceNow as a top pick Bank of America said the stock remains a top idea for 2024.

Persons: KBW downgrades Charles Schwab, KBW, Mizuho, Robinhood, ., DA Davidson, Baird, Rivian, Wolfe, it's, Wells, it's bullish, Bernstein, Guggenheim, Piper Sandler, Tempur Sealy, TPX, CFRA, Harley Davidson, Oppenheimer, Morgan Stanley, Hertz, ServiceNow, Argus, Salesforce, Mike Blake Organizations: UBS, Netflix, Bank of America, Apple, of America, Nvidia, Semiconductors, Barclays, Red Rock Resorts, Vegas Locals, Microsoft, Guggenheim, Citi, JetBlue, Spirit, Costco, Piper, Palo Alto Networks, Paramount, Nasdaq, Hertz, Blackrock, Amazon, Deutsche Bank, Deutsche, JPMorgan Locations: repurchases, Palo, Palo Alto, Southeast China, 1H24, Los Angeles

☆ China's property 'inventory overhang' could take more than 10 years to correct, economist says
▼ + stars: | 2024-01-04 | by ( Clement Tan | ) www.cnbc.com time to read: +3 min

The site of a real estate building under construction in Huai 'an city, Jiangsu province, China, December 26, 2023. "If you look at the inventory overhang situation — at this sales rate — it will take about two years to clear all the inventory that is outstanding in the market," Hong told CNBC Street Signs Asia on Thursday. At the same time, one has to find new growth spots for the economy to go forward, instead of just relying on just the property sector and property investment for economic growth," Hong said. One has to find new growth spots for the economy to go forward, instead of just relying on just the property sector and property investment for economic growth. "This time around, it seems to us that the property sector has peaked and the long cycle is coming down.

Persons: Huai, Hao Hong, Hong, China's Organizations: Getty, Investment, CNBC, Beijing, Economic Work Locations: Jiangsu province, China

☆ China's policy support is a 'stop-gap' measure — not stimulus, SocGen economist says
▼ + stars: | 2023-12-05 | by ( Clement Tan | ) www.cnbc.com time to read: +4 min

Close up of Chinese Yuan notes, with Mao Tse-tung Peter Dazeley | The Image Bank | Getty ImagesChina's recent policy support is aimed at fixing its system and shouldn't be seen as economic stimulus, according to Societe Generale's Asia chief economist and head of research. PMI divergenceExpansion in China's services sector climbed to its strongest since August, a private survey on Tuesday showed. However, the private survey diverged from China's official PMI. The moderating manufacturing PMI and contracting services PMI, along with other November data point to the fragility of the Chinese economy and a faster deceleration of growth momentum last month, they added. The official PMI includes more companies engaged in heavy industries compared with the Caixin PMI, which covers more consumer-focused firms, Barclays economists said.

Persons: Yuan, Mao Tse, Peter Dazeley, Wei Yao, Yao, Jian Chang Organizations: Bank, Getty, Societe Generale's, CNBC, Economic Work Conference, China Communist, PMI, National Bureau of Statistics, NBS, Barclays Locations: Societe Generale's Asia, China

An electronic board shows Shanghai and Shenzhen stock indexes, at the Lujiazui financial district in Shanghai, China October 25, 2022. But the extent of the political and economic jitters merely mirrors other signs of a long-term China exit well beyond portfolio flows. Earlier this month, China recorded its first-ever quarterly deficit in "bricks and mortar" foreign direct investment (FDI). What's more, a multi-year aversion to China investments then risks colliding with deteriorating long-term economic growth dynamics - heightened by rising youth unemployment and dire demographics. Despite some recent upgrades of China growth forecasts, yet another business survey this week raised red flags.

Persons: Aly, Gina Raimondo, Nicholas Lardy, Xi, Lardy, What's, Morgan Stanley, Morgan Stanley's, Mike Dolan, Paul Simao Organizations: REUTERS, Official Monetary, Financial, Reuters, . Commerce, Peterson Institute for International Economics, Thomson Locations: Shanghai, Shenzhen, China, OMFIF, Europe, North America, India, Brazil, Beijing, U.S, Washington, San Francisco

☆ Moody's upgrades Portugal's rating two notches, despite political crisis
▼ + stars: | 2023-11-18 | by ( Sergio Goncalves | ) www.reuters.com time to read: +2 min

Portugal's government nationalised a small private bank, Banco Portugues de Negocios (BPN), on Sunday as the international financial crisis claimed its first victim in the Iberian country. REUTERS/Jose Manuel Ribeiro (PORTUGAL) Acquire Licensing RightsLISBON, Nov 18 (Reuters) - Moody's upgraded Portugal's long-term issuer rating two notches to A3 from Baa2, despite the political crisis triggered by the resignation of the country's prime minister due to an investigation into alleged irregularities in his government. Moody's said it appeared the country's institutions were dealing with the crisis in an "effective and transparent manner". The 2024 budget, which is set to be approved by the Socialist parliamentary majority on Nov. 29, projects economic growth slowing down to 1.5% in 2024 from the 2.2% growth expected this year. It sees "significant private and public investments as well as the implementation of further structural reforms", both linked to the country's recovery plan.

Persons: Jose Manuel Ribeiro, Antonio Costa, Marcelo Rebelo de Sousa, Moody's, Fernando Medina, Medina, Sergio Goncalves, David Latona Organizations: Banco Portugues de, Rights, Finance, Socialist, Thomson Locations: Portuguese, Lisbon, Banco Portugues de Negocios, PORTUGAL, Rights LISBON, Baa2, Portugal

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