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☆ Asia markets poised for fall ahead of Bank of Japan rate decision
▼ + stars: | 2023-09-22 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Asia-Pacific markets are set to fall ahead of the Bank of Japan's rate decision, which investors will be closely watching to determine if the central bank will make any change to its ultra-easy monetary policyA poll of Reuters economists showed that economists all expect the BOJ to hold its benchmark policy rate at -0.1%. BOJ Governor Kazuo Ueda has maintained that an ultra-easy monetary policy is needed until Japan sees a sustained inflation at 2%. Japan's headline inflation figures have remained above this target since April 2022, with the latest reading coming in at 3.2% for August.

Persons: Kazuo Ueda Organizations: Bank of Locations: Asia, Pacific, Japan

☆ Street Fighter, Resident Evil developer says it plans to tap on synergy between gaming and movies
▼ + stars: | 2023-09-22 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +3 min

After two years of absence linked to the Covid-19 pandemic, Paris Games Week is making a comeback in Paris. Tsujimoto pointed that Capcom releases new game titles every year to already existing franchises, such as Street Fighter and Resident Evil, "indicates that we have a strong and high quality catalog." watch nowCapcom is no stranger to the film industry, having seen a live action movie Street Fighter made in 1994 and Resident Evil made into seven films since 1997. "We have experienced the synergistic effects of doing so, whereby movies sell well and games sell well, when a game is made into a movie." We have experienced the synergistic effects of doing so, whereby movies sell well and games sell well, when a game is made into a movie.

Persons: Porte de Versailles, Haruhiro Tsujimoto, Tsujimoto, CNBC's Will, Capcom, Haruhiro, Hisashi Koinuma Organizations: Capcom, Paris Games, Paris, Chesnot, Getty, Marvel, Tokyo, CNBC, Capcom Pictures, Koei Tecmo Games Locations: PARIS, FRANCE, Parc, Paris, France, Chiba, Japan, Hollywood

☆ Shares of YG tumble over 13% after report three Blackpink members will not renew contracts
▼ + stars: | 2023-09-21 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

INDIO, CALIFORNIA - APRIL 22: (L-R) Rosé, Jennie, Jisoo, and Lisa of BLACKPINK perform at the Coachella Stage during the 2023 Coachella Valley Music and Arts Festival on April 22, 2023 in Indio, California. (Photo by Emma McIntyre/Getty Images for Coachella)Shares of K-pop agency YG Entertainment tumbled 13.28% on Thursday after South Korean media reported that three of the four members of girl group Blackpink will not sign new contracts with the label. South Korean outlet Sports Seoul reported, citing "multiple music industry officials," that members Jisoo, Jennie and Lisa will sign contracts with other labels, while Rosé will renew her contract with YG. Reuters reported that YG said contract talks are ongoing and nothing has been decided. This comes after Thailand-born Lisa allegedly rejected two contract renewal offers from YG last week, with the size of the contract reportedly worth 50 billion South Korean won ($37.6 million).

Persons: Rosé, Jennie, Jisoo, Lisa of BLACKPINK, Emma McIntyre, Lisa Organizations: Coachella, Valley Music, Arts Festival, YG Entertainment, South, Sports Seoul, YG, Reuters, South Korean Locations: INDIO , CALIFORNIA, Indio , California, Blackpink, Thailand

☆ Asia markets largely set to fall after Fed holds rates, but signals higher rates for longer
▼ + stars: | 2023-09-21 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

In a photo taken on November 4, 2019 a subway train crosses a rail bridge over the Han river, before the skyline of the Yeouido business district of Seoul. Asia-Pacific markets are set for a mixed open after the U.S. Federal Reserve held its benchmark policy rate, but said it will raise interest rates one more time this year, according to the central bank's projections. Projections showed the central bank expects to hike rates to a median of 5.6% by the end of 2023, up from the current range between 5.25% and 5.5%. The rate-setting Federal Open Market Committee projected two rate cuts in 2024, which is two fewer than its forecast in June. That would put the funds rate around 5.1%.

Organizations: U.S . Federal Reserve Locations: Seoul . Asia, Pacific

☆ Asia markets set to extend losses ahead of China loan prime rate decision; Fed decision on horizon
▼ + stars: | 2023-09-20 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

SHENZHEN, CHINA - AUGUST 26: An aerial view of the Shenzhen skyline on August 26, 2020 in Shenzhen, Guangdong Province of China. (Photo by He Shaoping/VCG via Getty Images) Vcg | Visual China Group | Getty ImagesAsia-Pacific markets are set to extend losses from Tuesday as investors await China's one-year and five year loan prime rates and brace for the U.S. Federal Reserve's rate decision Wednesday stateside. The region will also see August trade data out from Japan, while wholesale inflation in South Korea jumped for the first time since July 2022. In Australia, futures for the S&P/ASX 200 also point to a lower open, at 7,184 compared with the last close of 7,196.6. Futures for Hong Kong's Hang Seng index stood at 17,980, lower than the HSI's last close of 17,997.17.

Organizations: Getty, Visual China, U.S, Japan's Nikkei Locations: SHENZHEN, CHINA, Shenzhen, Guangdong Province of China, Asia, Pacific, U.S . Federal, Japan, South Korea, Chicago, Osaka, Australia

"Indonesia is not an easy market to do business on your own," said Kim, adding that, beyond government sales, VKTR was in talks with large domestic businesses to sell BYD EV buses. TAKING ON TESLAThai EV buyers contributed 24% of BYD's overseas sales in the second quarter, making it the Chinese automaker's largest foreign market, according to Counterpoint, whereas fewer than 1% of Tesla's sales are in Southeast Asia. BYD's Southeast Asia playbook and its embrace of dealerships contrasts with Tesla, whose direct-to-consumer approach is hard to replicate, since no other new EV brand has its buzz or the outsized media presence of its CEO Elon Musk. BYD and its partner Sime Darby Motors are experimenting with a new approach to draw young, tech-savvy consumers towards the Chinese brand in Singapore. The partnership has launched five "BYD by 1826" showrooms that double as white-tablecloth restaurants where dishes are named after BYD EV models.

Persons: Edgar Su, EVs, Tesla's, Soumen, BYD, Sime Darby, Indonesia's, Chee, Kiang Lim, Ayala, Antonio Zara, Rever, Alex Kim, Kim, VKTR, Tesla, Elon Musk, Darby, Jeffrey Gan, Devjyot Ghoshal, Stefanno Sulaiman, Jamie Freed Organizations: REUTERS, Rights, Counterpoint Research, Reuters, Commission, Ayala Corp, Thailand's, Urban Science, Brothers, Ayala Corp's, Motors, Thai EV, Asia playbook, Darby Motors, Sime, Sime Darby Motors, Thomson Locations: Singapore, Rights BANGKOK, JAKARTA, Southeast Asia, Thailand, Malaysia, Philippines, China, Shenzhen, Bangkok, Indonesia, Jakarta, Asia, Hong Kong, Macau

☆ Asia markets mixed ahead of Australian central bank minutes
▼ + stars: | 2023-09-19 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

The Sydney Opera House Sydney, New South Wales, Australia. Gallo Images | Brand X Pictures | Getty ImagesAsia-Pacific markets are mixed as traders look to minutes from the Reserve Bank of Australia for its policy meeting on Sept. 5. The minutes will detail how the RBA came to hold its benchmark policy rate at 4.1%, the third straight month that it has done so. In Australia, the S&P/ASX 200 slid 0.23% in early trade, while both South Korea's Kospi and Kosadaq were trading close to the flatline. Japan's Nikkei 225 slumped 0.76% upon its return from a public holiday, while the Topix saw a smaller loss of 0.16%.

Organizations: Sydney Opera House, Getty, Reserve Bank of Australia, Nikkei Locations: Sydney Opera House Sydney , New South Wales, Australia, Asia, Pacific

☆ Fashion Designer Phillip Lim Lists Soho Loft for $8.5 Million
▼ + stars: | 2023-09-18 | by ( Sarah Paynter | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/real-estate/luxury-homes/fashion-designer-phillip-lim-lists-soho-loft-for-8-5-million-27a4aa65

Persons: Dow Jones, phillip, lim

☆ Analysis-More SE Asia firms consider U.S. IPOs, filling void left by China peers
▼ + stars: | 2023-09-18 | by ( Yantoultra Ngui | Scott Murdoch | ) www.reuters.com time to read: +5 min

“These factors have enabled some of their ASEAN rivals to step out into the spotlight.”ASEAN, the 10-member Association of Southeast Asian Nations, includes Thailand, Singapore, Malaysia and Vietnam. For investors seeking emerging market exposure, Southeast Asia fits the bill, because of the region’s strong economic growth and increasing population, analysts say. Some Southeast Asia companies seeking listings in the U.S. look to raise between $300 million and $1 billion, with valuations ranging from $1.5 billion to $8 billion, bankers said, without naming any firms. “International investors are seeing the value of portfolio diversification that Southeast Asia provides,” Tay added. The expected pickup in Southeast Asian listings, however, could get derailed by share volatility and stringent investor scrutiny, analysts say.

Persons: ”, Leif Schneider, Sunil Khaitan, Kelvin Teo, Andrew Lim, Tay Hwee Ling, ” Tay, Anuruk Karoonyavanich Organizations: Nasdaq, REUTERS, Gushcloud International, Sunday, Reuters, VNG Corp, ASEAN, Association of Southeast Asian Nations, Carsome, Southeast, Bank, America’s, “, U.S ., ’, Companies, Deloitte, “ International, DBS Locations: SINGAPORE, SYDNEY, United States, New York City, U.S, Singapore, New York, Philippine, Washington, Beijing, Vietnam, Thailand, Malaysia, Asia, Indonesia, Southeast, Southeast Asia, China

☆ Asia markets poised to fall as central bank decisions closely watched this week
▼ + stars: | 2023-09-18 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

The Bank of Japan (BOJ) headquarters is seen beyond the cherry blossoms in Tokyo on March 20, 2023. Asia-Pacific markets are set to fall Monday as investors look ahead to a week of central bank decisions. The U.S. Federal Reserve's decision is expected early Thursday in Asia, while Australia's central bank will release its minutes for its Sept. 5 policy meeting on Tuesday. On Friday, the Bank of Japan will conclude its monetary policy meeting and traders will be looking for clarity on when the BOJ will start to shift its ultra-easy monetary policy. Elsewhere, the People's Bank of China is also expected to release its loan prime rate decisions on Friday.

Organizations: Bank of Japan, U.S, Federal, People's Bank of Locations: Tokyo, Asia, Pacific, People's Bank of China

ASEAN, the 10-member Association of Southeast Asian Nations, includes Thailand, Singapore, Malaysia and Vietnam. For investors seeking emerging market exposure, Southeast Asia fits the bill, because of the region's strong economic growth and increasing population, analysts say. Some Southeast Asia companies seeking listings in the U.S. look to raise between $300 million and $1 billion, with valuations ranging from $1.5 billion to $8 billion, bankers said, without naming any firms. "International investors are seeing the value of portfolio diversification that Southeast Asia provides," Tay added. The expected pickup in Southeast Asian listings, however, could get derailed by share volatility and stringent investor scrutiny, analysts say.

Persons: DoubleDragon, Leif Schneider, Sunil Khaitan, Kelvin Teo, Andrew Lim, Tay Hwee Ling, Tay, Anuruk Karoonyavanich, Yantoultra Ngui, Scott Murdoch, Sumeet Chatterjee, Miral Organizations: Nasdaq, REUTERS, U.S, IPOs, Gushcloud International, Sunday, Reuters, VNG Corp, ASEAN, Association of Southeast Asian Nations, Carsome, Southeast, Bank, America's, U.S ., Deloitte, International, DBS, Thomson Locations: New York City, U.S, Asia, SINGAPORE, SYDNEY, United States, Singapore, New York, Philippine, Washington, Beijing, Vietnam, Thailand, Malaysia, Indonesia, Southeast, Southeast Asia, China, Sydney

☆ Asia markets set for stronger open ahead of key data from China
▼ + stars: | 2023-09-15 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

SHANGHAI, CHINA - JUNE 08: Aerial view of skyscrapers standing at the Lujiazui Financial District at sunrise on June 8, 2022 in Shanghai, China. (Photo by Zhang Zhuoming/VCG via Getty Images) Vcg | Visual China Group | Getty ImagesAsia-Pacific markets are set to rise ahead of key economic data out of China, which could give clues on the trajectory of the world's second largest economy. China will release August data for its house prices, unemployment rate and retail sales, as well as urban investment. Futures for Hong Kong's Hang Seng index stood at 18,171, higher than the HSI's last close of 18,047.92. In Australia, futures for the S&P/ASX 200 also point to a higher open, at 7,283 compared to the last close of 7,186.5.

Persons: Zhang Zhuoming Organizations: Getty, Visual China, Nikkei Locations: SHANGHAI, CHINA, Shanghai, China, Asia, Pacific, Chicago, Osaka, Australia

☆ Shares of K-pop agency plunge 9% after Blackpink member reportedly rejects contract renewal offer
▼ + stars: | 2023-09-15 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

(L-R) Rosé, Jisoo, Lisa, and Jennie of BLACKPINK perform at the Coachella Stage during the 2023 Coachella Valley Music and Arts Festival on April 22, 2023 in Indio, California. Shares of K-pop agency YG Entertainment tumbled almost 9% on Friday after South Korean media reported that Blackpink member Lisa has rejected a contract renewal offer from the agency. According to South Korean news outlet Star News, the Thailand-born member has rejected two offers from YG, with the size of the contract reportedly worth 50 billion South Korean won ($37.6 million). This follows reports earlier in July that Lisa has "not been able to find an agreement" regarding a contract extension with the agency. At the time, South Korean media outlet Newsen reported that YG responded to queries by saying that contract renewal discussions were underway, but outlet Munhwa Ilbo reported that "it is known that the difference between the two sides is quite large."

Persons: Lisa, Jennie, BLACKPINK, YG Organizations: Coachella, Valley Music, Arts Festival, YG Entertainment, South, Star, YG, South Korean, Munhwa Ilbo Locations: Indio , California, South Korean, Thailand, Korean

REUTERS/Thomas White/Illustration/File Photo Acquire Licensing RightsSEOUL, Sept 15 (Reuters) - South Korea is reviewing measures to limit currency and swap traders' tenure in local dealing rooms to three to five years, starting as early as next year, two sources with direct knowledge of the matter told Reuters on Friday. "The FSS is in the process of finalizing the measures by collecting views from the bankers' federation." Money managers at local banks are fiercely opposing the move, as fraud checks are already rigorously done in their daily operations through middle- and back offices. Foreign banks with local branches will not be subject to enforcement on staffer rotations. The move could be in effect around the time the country's onshore currency market will be extended to 2 a.m. local time, or the end of London business day.

Persons: Thomas White, we're, Cynthia Kim, Kim Coghill Organizations: South, REUTERS, Rights, Reuters, Woori Bank, Financial Supervisory Service, Korean, Thomson Locations: South Korea, Rights SEOUL, London

☆ Asia markets poised for mixed open after U.S. inflation comes in hotter than expected
▼ + stars: | 2023-09-14 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Asia-Pacific markets are set for a mixed open as inflation in the U.S. inflation rate in August came in hotter than expected, at 3.7% compared to economists' expectations of 3.6% in a Dow Jones survey. Month-on--month, the consumer price index rose 0.6% in August, in line with expectations. In July, the CPI rose 3.2% year-on-year and 0.2% month-on-month. However, excluding volatile food and energy costs, the core CPI rose 4.3%, in line with estimates and down from 4.7% in July. Federal Reserve officials focus more on core as it provides a better indication of where inflation is heading over the long term.

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

☆ Asia markets set to fall as investors watch Japan and South Korea data; U.S. inflation numbers on horizon
▼ + stars: | 2023-09-13 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Asia-Pacific markets are largely set for a weaker open as investors assess key economic data out of Japan and South Korea. South Korea's unemployment rate in August came in at 2.4%, its lowest since June 1999. Meanwhile, corporate confidence in Japan fell in September, among both manufacturers and non-manufacturers, according the Reuters Tankan poll. Confidence among large manufacturers slid to +4, from +12 in August. The non-manufacturers index dropped nine points to hit +23 in September.

Organizations: Reuters Locations: Asia, Pacific, Japan, South Korea, South

☆ Asia markets poised for mixed open as Wall Street sees tech rally
▼ + stars: | 2023-09-12 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Federal Reserve officials are growing less certain about the need for more interest rate hikes, marking a significant shift in their inflation-fighting policy, according to a Wall Street Journal report. The central bank's rate-setting Federal Open Market Committee is still likely to pass on an increase at its meeting next week while indicating that one more move is likely before the end of the year. However, as inflation data has improved, the willingness of committee members to do too much to fight inflation as opposed to too little is beginning to shift, the report states. In recent statements, a number of officials say the balance of risks has shifted and they are now feeling less urgency to tighten. Market pricing points to a 44.6% chance of a final rate hike at the November meeting, according to CME Group data.

Persons: Jeff Cox Organizations: Federal, Wall, Group

☆ Nobel laureate Ressa acquitted in Philippine tax case
▼ + stars: | 2023-09-12 | by ( Mikhail Flores | ) www.reuters.com time to read: +2 min

[1/4] Philippines Nobel laureate Maria Ressa faces the media after she and her news site Rappler were acquitted of tax fraud by a trial court in Pasig City, Metro Manila, Philippines, September 12, 2023. After the verdict was announced, Ressa told reporters Her acquittal sends a "good signal" to the business community, as her tax charges "have a lot to do with the rule of law". "The acquittal now strengthens our resolve to continue with the justice system, to submit ourselves to the court despite the political harassment, despite the attack on press freedom," Ressa said. Ressa's acquittal was expected after she was cleared of similar tax charges nine months ago. President Ferdinand Marcos Jr, who has been in office for 14 months, has said he would not interfere in the court cases against Rappler.

Persons: Maria Ressa, Rappler, Eloisa Lopez, Rodrigo Duterte, Ressa, Ferdinand Marcos Jr, Francis Lim, Mikhail Flores, Martin Petty, Kanupriya Kapoor Organizations: REUTERS, Rappler, World Press, Thomson Locations: Philippines, Pasig City, Metro Manila, MANILA, Russian

☆ Shares of Alibaba tumble over 3% after outgoing CEO unexpectedly quits cloud business
▼ + stars: | 2023-09-11 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

The move comes months after Alibaba said in June that Zhang was departing as chairman and CEO of Alibaba Group to focus on the cloud intelligence unit. Stock Chart Icon Stock chart iconIn a surprise leadership reshuffle in June, Alibaba announced that Zhang was bowing out as both CEO and chairman on Sept. 10 to focus on the cloud intelligence business. Zhang was Alibaba Group CEO since 2015 and the group chairman since 2019. He has also been chairman and CEO of the Alibaba Cloud Intelligence Group since 2022. "The board of our Company expresses its deepest appreciation to Mr. Zhang for his contributions to Alibaba Group over the past 16 years," Alibaba said in the Sunday statement.

Persons: Daniel Zhang Yong, Daniel Zhang, Alibaba, Zhang, Eddie Wu, Wu, Joseph Tsai Organizations: Alibaba, Fund, Visual China, Getty, Alibaba Group, Cloud Intelligence Group, Company Locations: Lanzhou, Gansu Province, China, Hong Kong

☆ Asia stocks start the week mostly lower, ahead of key data from China and India this week
▼ + stars: | 2023-09-11 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Bullish sentiment among individual investors regarding the outlook for stocks over the next six months surged to 42% in the latest week, from 33.1% last week, and the first time the measure's been above the historical average (37.5%) since early August, according to the latest American Association of Individual Investors survey. Bearish sentiment sank to 29.6%, a four-week low, vs 34.5% last week. Neutral sentiment fell to a seven-week low of 28.2% from 32.4% last week. Bullishness also climbed in the weekly Investors Intelligence poll of financial newsletter editors and advisors earlier this week, rising to 49.3% from 43.1% last week. Bearishness rose a touch, to 21.9% from 20.8%, while those in the correction camp narrowed to 28.8% from 36.1%.

Persons: Bullishness, contrarians, — Scott Schnipper Organizations: American, of, Intelligence

☆ Maria Ressa: Philippine Nobel laureate acquitted of last tax evasion charge
▼ + stars: | 2023-09-11 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +1 min

Hong Kong CNN —Philippine Nobel Peace laureate Maria Ressa was acquitted of tax evasion Tuesday, according to her news site Rappler, in the latest legal victory for the veteran journalist. Ressa and Rappler are now cleared of all five tax-related charges filed during the administration of former President Rodrigo Duterte, according to CNN affiliate CNN Philippines. “This is really a win not just for Maria … but a win for the Philippines,” Ressa’s lawyer Francis Lim told supporters outside Regional Trial Court in Pasig city. The ruling comes eight months after Ressa was cleared of four earlier counts of tax violations filed in 2018 by Duterte’s government. She won the 2021 Nobel Peace Prize, along with Russian journalist Dmitry Muratov, for her efforts to safeguard freedom of expression in the Philippines.

Persons: Maria Ressa, Ressa, Rodrigo Duterte, Maria …, ”, Francis Lim, Dmitry Muratov Organizations: Hong Kong CNN —, CNN, CNN Philippines Locations: Hong Kong, Hong Kong CNN — Philippine, Philippines, Pasig city, “, Russian

☆ China's property market is going in 'two directions,' says ex-central bank advisor
▼ + stars: | 2023-09-08 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

China's real estate sector is going in "two directions," and even though further stimulus is expected, a recovery will not likely happen soon, according to a former advisor to the People's Bank of China. "The property market right now in China is actually two-fold. It's actually going into two directions," Li Daokui, now a professor of economics at Tsinghua University, said Friday. China's property market has been rocked by faltering consumer confidence in real estate companies as property giants Evergrande and Country Garden face debt woes. China's house prices slipped in July, falling 0.1% year-on-year after a brief recovery in May and remaining flat in June.

Persons: Li Daokui, Evergrande, Li Organizations: People's Bank of China, Tsinghua University Locations: China

☆ Asia markets poised for mixed open ahead of Japan's trade balance; Hong Kong may pause trade
▼ + stars: | 2023-09-08 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Asia-Pacific markets are set for a mixed open as Japan releases its trade balance for July, as well as its revised second quarter gross domestic product figures. Hong Kong markets may see limited trading today after the city's observatory issued a "black rainstorm" warning. Under Hong Kong Exchange guidelines, the pre-opening session will be cancelled if a black rainstorm warning is in force after 7 a.m Hong Kong time. Should it be lifted before 9 a.m., the morning session will begin on the first half hour at least two hours after the discontinuation of the signal. Should the signal still be in force after 9 a.m., the morning session will be cancelled, and if it extends beyond 12 p.m., there will no trading for the day.

Organizations: Hong, Hong Kong Exchange Locations: Asia, Pacific, Japan, Hong Kong

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