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☆ Asia markets fall as Japan records surprise trade surplus; Australia unemployment figures awaited
▼ + stars: | 2023-10-19 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Sydney Harbour in Australia, featuring the Sydney Opera House and Harbour Bridge. Asia-Pacific markets fell across the board as Japan saw a surprise trade surplus in September and as Australia awaits its unemployment data for September. This also mirrors moves on Wall Street as U.S. Treasury yields jumped to multiyear highs, with the 10-year Treasury yield breaking above 4.9% for the first time since 2007. Meanwhile, the average rate on the 30-year fixed mortgage rate hit 8%, the highest level since 2000.

Organizations: Sydney Opera, Treasury Locations: Sydney, Australia, Asia, Pacific, Japan

☆ Asia markets little changed ahead of key China data
▼ + stars: | 2023-10-18 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Vcg | Visual China Group | Getty ImagesAsia-Pacific markets were little changed in early Wednesday trading as investors look to key economic data from China. China will release its third-quarter gross domestic product data. The world's second-largest economy will also release its industrial output and retail sales data for September, as well as its urban unemployment rate. The unemployment rate is one of the key metrics that the Reserve Bank of Australia considers when setting its monetary policy. Japan's markets are trading close to the flatline, with the Nikkei 225 down just 0.1% and the Topix gaining marginally.

Persons: Kospi Organizations: Visual China, Getty, Reserve Bank of Australia, Nikkei Locations: Beijing, China, Asia, Pacific, Australia

☆ Australia's central bank considered raising rates in October, RBA minutes show
▼ + stars: | 2023-10-17 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Reserve Bank of Australia (RBA) at the central bank's building in Sydney, Australia on May 2, 2022. Australia's central bank considered a rate hike of 25 basis points at its monetary policy meeting on Oct. 3, but eventually opted to hold its benchmark lending rate at 4.1%. In minutes released by the Reserve Bank of Australia, board members noted that inflation remained well above its target of 2% to 3%, and was "expected to do so for some time." "The tightening of monetary policy since May 2022 was still permeating through the economy and it would take some time for the full effects of this to be observed in the data," the minutes showed. In light of both sides of the argument, the RBA concluded there was not enough new information from financial markets or economic data to adjust its monetary policy in October.

Organizations: Bank of Australia, Reserve Bank of Australia Locations: Sydney, Australia, Australia's

☆ Australia stocks rise ahead of central bank minutes; New Zealand inflation hits 2-year low
▼ + stars: | 2023-10-17 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Australia stocks gained ahead of minutes from its central bank's last policy meeting, while the New Zealand dollar weakened following an inflation reading, the first since the elections over the weekend. New Zealand's inflation rate hit a two-year low, coming in at 5.6% in the third quarter and down from 6% in the previous quarter. The minutes from the Reserve Bank of Australia will detail the central bank's rationale for holding its benchmark lending rates at 4.1% during its October monetary policy meeting, the fourth straight month that it has kept rates unchanged.

Organizations: New Zealand, Reserve Bank of Australia

☆ Asia markets poised for weaker open as investors look ahead to China GDP, Japan inflation data
▼ + stars: | 2023-10-16 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

An employee works on the assembly line of LED lighting products in China. Asia-Pacific markets are set for a lower start to the week as investors look ahead to key economic data from China and Japan this week. Japan's September inflation data is expected on Friday, which will come ahead of the country's central bank's monetary policy meeting on Oct. 30 and 31. South Korea's central bank will also announce its rate decision on Thursday. The Bank of Korea has held rates steady for five meetings in a row at 3.5% since February.

Organizations: Reuters, Bank of Locations: China . Asia, Pacific, China, Japan, Korea's, Bank of Korea

☆ They viewed 16 apartments in 3 days, and finally bought their dream home for $371,000. It wasn't even on their initial list.
▼ + stars: | 2023-10-15 | by ( Amanda Goh | ) www.businessinsider.com time to read: +8 min

Soh Jun Hao and Grace Lim bought their public housing apartment in Singapore right before the pandemic. They viewed 16 apartments in 3 days and came across their forever home by chance. HaosofGraceIt took them 16 apartment viewings to find their dream home, which wasn't even on their initial list. A screengrab from Google Maps Street View showing the couple's apartment block. Amanda Goh/InsiderThe couple's apartment faces a park, and the view from their living room is hard to beat.

Persons: Soh Jun Hao, Grace Lim, —, Jun Hao, they've, Lim, Amanda Goh, " Lim, Soh, Lim's grandmother's, it's Organizations: Service, Housing Development Board, Google Locations: Singapore, Tampines

☆ Samsung Electronics expects third quarter profit to plunge 78% but shares surge
▼ + stars: | 2023-10-11 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

South Korean chip giant Samsung Electronics is expecting a 78% drop in operating profit in the quarter ended September, according to guidance released by the company. The company expects revenue will come in at approximately 67 trillion South Korean won ($50.02 billion) for the third quarter, while operating profit will stand at about 2.4 trillion won. This compares with the 76.78 trillion won recorded in sales and 10.85 trillion won in operating profit reported a year ago. The operating profit guidance from Samsung was slightly higher than analyst expectations. Before the guidance was released, analysts polled by LSEG expected operating profit of 2.3 trillion won for the September quarter, a 78.7% year-on-year decline.

Persons: LSEG Organizations: Samsung Galaxy, Samsung Electronics, South Korean, Samsung Locations: Seoul

☆ Asia markets rise as Wall Street rallies and Treasury yields ease
▼ + stars: | 2023-10-11 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Goldman Sachs' chief U.S. equity strategist David Kostin does not expect the Israel-Hamas conflict will have a huge impact on markets. "It's a tragedy from a human point of view," Kostin told CNBC's "Squawk on the Street" on Tuesday. "But the idea fundamentally, we'll be getting earnings for the last three months, which is obviously backward looking. And the prospects looking forward are probably more domestically facing issues that are sort of pertinent to a lot of portfolio managers." Still, the strategist expects other risk factors will continue to weigh on stocks, citing higher yields and oil prices that could impede multiple expansion.

Persons: Goldman Sachs, David Kostin, Kostin, CNBC's, we'll, Sarah Min Locations: Israel

☆ Japan and South Korea defense stocks jump after Hamas attack, aviation stocks slide
▼ + stars: | 2023-10-10 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

At his first troop review Saturday, Kishida renewed his pledge to consider "all options," including acquiring enemy base strike capability. Japanese and South Korean defense stocks surged on Tuesday as both stock markets returned to their first day of trading following the weekend attack of Israel by Palestinian militants Hamas. In South Korea, defense heavyweights Hanhwa Aerospace — which builds artillery and air defense systems — gained 2.23%, while Korea Aerospace Industries rose 4.07%. KAI produces fighter jets and aviation platforms for the South Korean military. Smaller South Korean defense players saw bigger gains.

Persons: Fumio Kishida, Kishida, Israel, KAI Organizations: Japan's, Defense Force, Hamas, Hanhwa Aerospace, Korea Aerospace Industries, South Korean, Kawasaki Heavy Industries, Japan's Self Defense Forces Locations: Japan, Tokyo, Israel, Gaza, South Korea

☆ Asia markets poised for rise as markets shake off pressures from Hamas attack
▼ + stars: | 2023-10-10 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Asia-Pacific markets are set to rise across the board, as markets rally despite pressures from the attack on Israel by Palestinian militant group Hamas. In Australia, the S&P/ASX 200 climbed 0.83% in early trade, extending gains from Monday and moving above the 7,000 mark. South Korea's Kospi rose 1.05%, but the Kosdaq bucked the wider trend, falling 0.14%. Futures for Hong Kong's Hang Seng index stood at 17,658, pointing to a positive open compared with the HSI's close of 17,517.4. Hong Kong experienced a shortened trading day of just two hours Monday after the city canceled its morning session due to a typhoon warning.

Organizations: Hamas, Nikkei Locations: Asia, Pacific, Israel, Palestinian, Australia, Hong Kong

Signage at a residential project developed by Country Garden Holdings Co. in Baoding, Hebei province, China, on Tuesday, Aug. 1, 2023. Chinese real estate developer Country Garden Holdings said it expects it will not be able to make all of its offshore repayments, including those issued in U.S. dollar notes. Country Garden warned that this could lead to creditors demanding faster repayments of debt or pursuing enforcement action. Looking ahead, the company expects uncertainty in its liquidity position and asset sales in the short and medium term amid a lack of material, industry-wide improvement in property sales. Chinese property giants such as Evergrande and Country Garden have been plagued by debt problems, hurting consumer confidence in the sector.

Organizations: Country Garden Holdings Co, Garden Holdings, Hong Kong Locations: Baoding, Hebei province, China

☆ Hong Kong and Australia set for stronger start; China returns from Golden Week
▼ + stars: | 2023-10-09 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Passengers wait for trains at Guangzhou South Railway Station on Sept. 27, 2023, just days before the National Day and Mid-Autumn Festival holidays. Asia-Pacific markets are set for a positive start to the week as Chinese markets come back from a week long Golden Week holiday. Investors will be watching inflation readings and trade data out from China and India later this week, as well as a monetary policy decision from Singapore's central bank. Japan and South Korea's markets are closed Monday for a holiday.

Organizations: Guangzhou South Railway Locations: Guangzhou, Asia, Pacific, China, India, Singapore's, Japan, South

☆ Asia's edge isn't just cheap labor, whether it's China, India or Japan, KKR says
▼ + stars: | 2023-10-05 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Now, whether it's China, India or Japan, the region's edge lies in industrial services, KKR's heads of global and Asia macro said in an October note. That investment conclusion comes after a recent trip to Singapore, China and Japan by New York-based Henry H. McVey, chief investment officer of KKR Balance Sheet. "The bid for infrastructure and logistics could accelerate even more meaningfully, we believe, in key markets such as India, China, Indonesia, the Philippines, Vietnam and even Japan," the KKR report said. That includes a $2 billion acquisition of a Mitsubishi-backed real estate manager in spring 2022.watch now"I think there are two big megathemes in Japan," KKR's McVey said in an interview Thursday. The other big trend in Japan, McVey said, is corporate reform that's boosting shareholder returns.

Persons: Henry H, McVey, Frances Lim, KKR's McVey, Fumio, haven't, Warren Buffett, Lim didn't, There's, Nisha Awasthi, Lim Organizations: Visual China, Getty, BEIJING, KKR, Mitsubishi, Hitachi Transport System, Logisteed, Hyatt Regency, Gaw Capital Partners, Wednesday, China Locations: China, Haikou, Hainan, India, Japan, Asia, Singapore, New York, Indonesia, Philippines, Vietnam, Hyatt Regency Tokyo, Gurugram, BlackRock, Mumbai, Pacific, Beijing, Hong Kong, Seoul, Shanghai, Sydney, Tokyo

☆ Workers are the unhappiest they've been in 3 years—and it can cost the global economy $8.8 trillion
▼ + stars: | 2023-10-02 | by ( Morgan Smith | ) www.cnbc.com time to read: +3 min

"Employees aren't experiencing highs or lows — instead, they are expressing a sense of resignation or even apathy," the report notes. "The most common complaint I hear is a loss of control," Srikumar Rao, the author of "Happiness at Work," tells CNBC Make It. Now, it's 'I want to feel more connected to my work,' and 'I want to be excited about what I'm doing.'" New Gallup research shows that remote employees, in particular, feel increasingly disconnected from their workplaces' mission and purpose. The lack of a shared mission and purpose can be detrimental to employees' overall happiness and performance.

Persons: it's, That's, Srikumar Rao, …, Jenn Lim, Harris, Emily Liou, There's, Liou, Wharton, Adam Grant Organizations: Workers, Research, CNBC, Company, Gallup

☆ China Evergrande's troubles mount as chairman is suspected of 'illegal crimes'
▼ + stars: | 2023-09-29 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

China Evergrande Group's logo is displayed on a phone screen in this illustration photo taken on September 27, 2021. A day after China Evergrande's shares were suspended in Hong Kong, the beleaguered Chinese property firm revealed that its director and executive chairman is under scrutiny over suspected crimes. Hui Ka Yan "has been subject to mandatory measures in accordance with the law due to suspicion of illegal crimes," Evergrande said in a statement to the Hong Kong Stock Exchange late Thursday. This follows a Bloomberg report on Wednesday that said Hui had been "placed under police control." Bloomberg said that Hui was taken away by Chinese police earlier this month and is being monitored at a designated location, citing people familiar with the matter.

Persons: China Evergrande's, Hui Ka Yan, Evergrande, Hui Organizations: Hong Kong Stock Exchange, Bloomberg Locations: China, Hong Kong

☆ Asia markets rebound, mirroring moves on Wall Street; Japan data in focus
▼ + stars: | 2023-09-29 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Pedestrians cross an intersection in the Shibuya district of Tokyo, Japan, on Tuesday, April 25, 2023. Photographer: Kentaro Takahashi/Bloomberg via Getty ImagesAsia-Pacific markets largely climbed in the final trading day of the week, mirroring moves on Wall Street. This comes as traders assess to key economic data out of Japan, including the September inflation rate for Tokyo. The core inflation rate, which strips out prices of fresh food, came in at 2.5%, lower than the 2.6% expected by a Reuters poll. Japan also saw unemployment, industrial output and retail sales data for August.

Persons: Kentaro Takahashi Organizations: Bloomberg, Getty Images Locations: Shibuya, Tokyo, Japan, Getty Images Asia, Pacific

☆ Why Thailand's having second thoughts about decriminalizing cannabis
▼ + stars: | 2023-09-29 | by ( Heather Chen | ) edition.cnn.com time to read: +11 min

Little more than a year after cannabis decriminalization, following an election that saw a more conservative coalition government come into power, there are signs Thailand’s laws on cannabis could be rewritten once again. Most cannabis dispensaries like his he says, have been responsible and diligent from the start in checking buyers’ IDs and educating customers about cannabis rules. “Thousands of cafes, stores, and other cannabis businesses have sprouted and hundreds of millions of dollars are being spent by tourists in a short amount of time,” Zaytsev said. The debate comes just as the quality of domestically produced cannabis in the country was improving, she added. “The quality of Thai cannabis has gotten better and better.

Persons: “, ” Iemvijan, –, Nitikrist Attakrist, ” Attakrist, Chiang Mai, Srettha Thavisin, ” Thavisin, Iemvijan, Cannabis, ”, Wisawa Mcintyre, Anutin Charnvirakul, Athit Perawongmetha, hasn’t, Ley Singdam, Ley, ” Ley, Kitty Chopaka, Chopaka, Michael Zaytsev, LIM, ” Zaytsev, Gloria Lai, ” Lai, ” “, Thavisin, Manan Vatsyayana Organizations: CNN, Thai, Bloomberg, Thailand’s Public, Thai Health, Staff, Reuters Observers, ” Farmers, Thais, International Drug Policy Consortium, Bhumjaithai Party, Getty Locations: Thai, Bangkok, Thailand, Southeast Asia, San, Thonglor, Phuket, ‘, ”, Athit, New York, Asia, Singapore, Indonesia, AFP

☆ Asia markets slide as oil and Treasury yields climb
▼ + stars: | 2023-09-28 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Hong Kong Spreephoto.de | Moment | Getty ImagesAsia-Pacific markets fell after notching some gains on Wednesday as an uptick in Treasury yields and oil prices dented investor sentiment on Wall Street. The benchmark 10-year U.S. Treasury yield hit its highest levels since 2007 and U.S. crude futures popped more than 3% to settle at $93.68 per barrel. Japan's Nikkei 225 slipped 1% in early trade, while the Topix saw a larger loss of 1.05% on Thursday morning. Futures for Hong Kong's Hang Seng index stood at 17,582, also pointing to a weaker open compared with the HSI's close of 17,611.87. South Korea's markets are closed for a public holiday.

Persons: Australia's Organizations: Treasury, Nikkei Locations: Hong Kong, Asia, Pacific

☆ Once dubbed a 'zombie' index, this Asian stock market is trying European-style trading to reinvent itself
▼ + stars: | 2023-09-28 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +5 min

Structured certificates are financial instruments issued by a third party, that are based on underlying assets — their returns depend on the performance of the asset, which can be a single stock or an equity index. Singapore began offering listed structured certificates on Aug. 30, with its inaugural issue being one linked to Hong Kong-listed shares of Chinese tech giant Alibaba Group Holding . "So tech names, Hong Kong names, U.S. names, Japanese names. SGX's move to broaden its equity-linked product base "could drive incremental market interest," including offering depository receipts and structured certificates, Wickramasinghe told CNBC. Structured certificates are more more popular in Europe, as investors there are "broadly speaking, very yield focused," Syn told CNBC.

Persons: Roslan RAHMAN, ROSLAN RAHMAN, Roslan Rahman, Thilan Wickramasinghe, Michael Syn, CNBC's, Serene Cai, Tharman, Wickramasinghe, Syn, Adam Reynolds, Reynolds Organizations: Getty, Afp, Singapore Exchange, CNBC, Inside Venture, Saxo Markets Locations: Singapore, AFP, Asia, Hong Kong, SGX, Pacific, Europe

☆ Shares of Evergrande have been suspended amid reports its chairman is under surveillance
▼ + stars: | 2023-09-28 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

Shares of Evergrande were suspended on Thursday, Hong Kong's exchange announced. Seen here are residential buildings under construction at the Tao Yuan Tian Jing project, developed by China Evergrande Group, in Yangzhou, China. Bloomberg | Getty ImagesShares of China Evergrande Group were suspended on Thursday, Hong Kong's exchange announced. Evergrande shares last closed at 32 Hong Kong cents on Wednesday. Operating loss stood at 11.72 billion yuan, down from 39.36 billion in the first half of 2022.

Persons: Hong Kong's, Yuan Tian Jing, Evergrande Organizations: China Evergrande Group, Bloomberg, Getty, China Evergrande, Bloomberg News, Hong, Trading, Reuters Locations: Yangzhou, China, Hong Kong, —, Hengda, U.S

☆ Asia markets poised for mixed open ahead of China industrial data and Australian inflation figures
▼ + stars: | 2023-09-27 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Australia's weighted inflation rate is expected to rise 5.2% year on year in August, a predicted rebound from three straight months of decline. Asia-Pacific markets are set for a mixed open ahead of China's industrial data and Australia's August inflation figures due on Wednesday. Futures for the S&P/ASX 200 point to a stronger open for the index, at 7,046 compared to the last close of 7,038.2. Hong Kong's Hang Seng index also is set for a positive open, with futures at 17,477, compared to the HSI's close of 17,466.9. Should the index follow the futures contract, this would be this first time the Nikkei falls below the 32,000 mark in over a month.

Organizations: Nikkei Locations: Asia, Pacific, Hong, Chicago, Osaka

☆ 'I believe in the sector': Investing in K-pop? Bernstein analyst is a fan of this stock
▼ + stars: | 2023-09-27 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +3 min

His pick is K-pop agency Hybe, which he's given an outperform rating and a target price of 350,000 South Korean won ($258) — or around 44% upside from Tuesday's close. Hybe's roster of artists includes BTS — one of the biggest South Korean boy bands. "I believe in the sector for the long-term growth and the macro trend," Suh told CNBC's " Street Signs " on Monday. Suh highlighted that Netflix announced in April that it would invest $2.5 billion in South Korean media over the next four years. So this is the reason why the global leading enterprise entertainment players companies try to diversify their IP portfolio to run their business more sustainably."

Persons: Bokyung Suh, Bernstein, Suh, CNBC's, Ted Sarandos, Sarandos, Hybe Organizations: South Korean, Kosdaq, SM Entertainment, JYP Entertainment, YG Entertainment, Disney, Netflix, Spotify, Hybe, BTS, Pledis Entertainment Locations: South Korea, Korean

☆ Asia markets largely fall despite Wall Street rally
▼ + stars: | 2023-09-26 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

A view of high-rise buildings is seen along the Suzhou Creek in Shanghai, China on July 5, 2023. Asia-Pacific markets largely fell despite a broad rebound on Wall Street and Moody's warning that a U.S. government shutdown would be "credit negative" for the world's largest economy. The country's wholesale inflation for its services sector climbed 2.1% year on year, its fastest rate of increase since September 2022. In Australia, the S&P/ASX 200 also shed 0.29% as traders look toward its key consumer price index reading on Wednesday. Hong Kong's Hang Seng index is also set for a positive open, standing at 17,744 compared to the HSI's close of 17,729.29.

Organizations: Nikkei Locations: Suzhou, Shanghai, China, Asia, Pacific, U.S, Australia, South Korea

☆ China property stocks tumble as Evergrande drops 25% on debt restructuring roadblock
▼ + stars: | 2023-09-25 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

The Evergrande Group headquarters building in Shenzhen is pictured on January 11, 2022 in Shenzhen, Guangdong Province of China. Shares of other major Chinese property stocks in Hong Kong also fell as the sector saw a sell-off. The Hang Seng Mainland Properties index slid just over 4% on Monday, while other real estates stocks took a beating. Shares of Evergrande traded as low as 41 Hong Kong cents on Monday. To be clear, Evergrande shares have plunged as much as 87% after resuming trade on Aug. 28, turning it into a penny stock.

Persons: Evergrande Organizations: Group, Logan Group, Hong Locations: Shenzhen, Guangdong Province of China . Hong Kong, Hong Kong

☆ Asia markets poised for mixed open as investors look to inflation data across the region
▼ + stars: | 2023-09-25 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Japan ,Tokyo City skyline, Tokyo Tower. (Photo by: Dukas/Universal Images Group via Getty Images) Prisma By Dukas | Universal Images Group | Getty ImagesAsia-Pacific markets are set for a mixed open as investors look toward inflation data from across the region this week. Singapore and Australia are expected to report inflation figures for August this week, while Japan will release inflation data for the Tokyo region. The capital region's inflation data is seen as a leading indicator of nationwide trends. Futures for Hong Kong's Hang Seng index stood at 18,040, pointing to a weaker open compared with the HSI's close of 18,057.45.

Organizations: Getty, Dukas, Nikkei Locations: Japan, Tokyo City, Tokyo, Asia, Pacific, Singapore, Australia, Chicago, Osaka

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