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REUTERS/Aly Song/File Photo Acquire Licensing RightsSept 26 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Goldman Sachs' financial conditions indexes for China and emerging markets at large are the highest in almost a year. In China, meanwhile, the property sector is back under the spotlight after shares of property developer Evergrande tumbled 21% on Monday on renewed uncertainty about the firm's debt restructuring. The broader property sector index fell 2.5%. Evergrande shares, but the company is systemically important - it is the world's most indebted developer and the property sector accounts for roughly a quarter of China's economy.
Persons: Aly, Jamie McGeever, Goldman Sachs, Evergrande, Valdis Dombrovskis, Fed's Neel Kashkari, Josie Kao Organizations: China Evergrande Group, REUTERS, U.S, Treasury, Global, Deutsche Bank, Barclays, Union, Thomson, Reuters Locations: Danzhou, Hainan province, China, Asia, Japan, U.S, Beijing, Singapore
Passersby are reflected on an electric stock quotation board outside a brokerage in Tokyo, Japan April 18, 2023. REUTERS/Issei Kato/File Photo Acquire Licensing RightsSept 25 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. This may hinge largely on whether the U.S. bond market regains its footing. Here are key developments that could provide more direction to markets on Monday:- Singapore inflation (September)- Vietnam inflation, trade, industrial production (September)- Vietnam GDP (Q3)By Jamie McGeever; Editing by Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Persons: Issei Kato, Jamie McGeever, Goldman Sachs, Lisa Shumaker Organizations: REUTERS, Fed, Bank of England, Swiss National Bank and Bank of Japan, Treasury, Thailand's, Thomson, Reuters Locations: Tokyo, Japan, Asia, U.S, Vietnam, Singapore
Oil prices continued to push higher, with the international benchmark Brent crude price moving past $95 to its highest since November 2022. Reuters GraphicsInvestors and central bankers are contending with a sharp rise in oil prices as demand has picked up but Saudi Arabia and Russia have limited supply. Samuel Zief, head of global FX strategy at JPMorgan Private Bank, said central banks should not be overly concerned by the run-up in oil prices, which he said should fade as economies slow. "What the central banks are really, really focused on, it's not really the supply-side energy shocks anymore, it's really the sticky services part of the inflation basket," he said. "Pick whatever central bank you want, they're talking about either they're done already or they'll do one more hike and they'll go on pause."
Persons: Germany's DAX, Duncan MacInnes, Jerome Powell's, Samuel Zief, it's, Kazuo Ueda, Harry Robertson, Kevin Buckland, Lewis Jackson, Stephen Coates, Bernadette Baum, Chizu Organizations: Federal Reserve, Bank of England, Bank of Japan, Brent, FTSE, Nasdaq, Reuters Graphics Investors, . West Texas, JPMorgan Private Bank, of England, Bank of, Japan's Nikkei, Tokyo, Reuters, Thomson Locations: TOKYO, Asia, Japan, U.S, Saudi Arabia, Russia, Bank of Japan, London, Tokyo
A man walks in front of the headquarters of Bank of Japan in Tokyo, Japan, January 18, 2023. REUTERS/Issei Kato/File Photo Acquire Licensing RightsSept 18 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Attention this week turns to the Federal Reserve and Bank of England policy meetings, and in Asia, the BOJ on Friday. The currency and JGB markets are sending different signals, and both will be seeking more clarity from the BOJ on Friday. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Persons: Issei Kato, Jamie McGeever, Kazuo Ueda's hawkish, Bond, Li, Guindos, Panetta, Diane Craft Organizations: Bank of Japan, REUTERS, The, of, ECB, Federal Reserve, Bank of, Thomson, Reuters Locations: Tokyo, Japan, Asia, Taiwan, Philippines, Indonesia, Malaysia, Hong Kong, Bank of England, Singapore, China, Moscow
Paramilitary police officers stand guard in front of the headquarters of the People's Bank of China, the central bank (PBOC), in Beijing, China September 30, 2022. REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsSept 15 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Asian markets are set to end the week strongly following risk-friendly moves in the U.S. and Europe on Thursday, although a deluge of top-tier economic data from China on Friday could sour the mood at a stroke. The latest indicators from the region's largest economy to be released include house prices, fixed asset investment, retail sales, industrial production and unemployment, all for August. However, all that could be parked for another day if investors decide to run with Thursday's bullish momentum.
Persons: Tingshu Wang, Jamie McGeever, Josie Kao Organizations: People's Bank of China, REUTERS, European Commission, PMI, Thomson, Reuters Locations: Beijing, China, U.S, Europe, Asia, Japan, Indonesia, New Zealand
An electronic board shows Shanghai and Shenzhen stock indexes, at the Lujiazui financial district in Shanghai, China October 25, 2022. REUTERS/Aly Song/File Photo Acquire Licensing RightsSept 11 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. According to Goldman Sachs's real-time indexes, financial conditions in China, emerging markets and globally are now the tightest since last November. The economic data spotlight this week will shine on China. Money supply, loan growth, social financing (a broad measure of credit and liquidity in the economy), retail sales, industrial production, unemployment, house prices and fixed asset investment are all due for release by September 15.
Persons: Aly, Jamie McGeever, Goldman Sachs's, Diane Craft Organizations: REUTERS, U.S, Nasdaq, Thomson, Reuters Locations: Shanghai, Shenzhen, China, India, Beijing, Asia, Japan, Philippine, Indonesia, Malaysia
Morning Bid: Try to top that one, Asia
  + stars: | 2023-09-03 | by ( Stephen Culp | ) www.reuters.com   time to read: +2 min
Staff lower Chinese national flag in front of screens showing the index and stock prices outside Exchange Square, in Hong Kong, China, August 18, 2023. REUTERS/Tyrone Siu/File Photo Acquire Licensing RightsSept 4 (Reuters) - A look at the day ahead in Asian markets from Stephen Culp, financial markets journalist. Asian markets have a tough act to follow on Monday - their own. "Clearly, we've seen a significant slowdown in the Chinese economy the last couple of months," said Ryan Detrick, chief market strategist at Carson Group in Omaha. On Thursday, Japan is due to release revised second-quarter GDP data and CPI and PPI reports from China are on deck for Friday.
Persons: Tyrone Siu, Stephen Culp, Ryan Detrick, Saola, Li Qiang, Diane Craft Organizations: REUTERS, Carson Group, Association of Southeast Asian Nations, ASEAN, PMI, CPI, PPI, South Korea CPI, Australia Judo Bank, Thomson, Reuters Locations: Exchange, Hong Kong, China, Shanghai, Shenzhen, Asia, Beijing, Omaha, Guangdong, Macau, Taiwan, India, Japan
An electronic board shows Shanghai and Shenzhen stock indexes, at the Lujiazui financial district in Shanghai, China October 25, 2022. REUTERS/Aly Song/File Photo Acquire Licensing RightsAug 28 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. As the week gets underway, asset markets across Asia yet again will be dominated by key economic indicators, market- and growth-supportive policy steps and diplomatic signals from China. The Asian market headwinds are strong and clear - financial conditions are tightening sharply, in large part due to the steady rise in U.S. Treasury yields. According to Goldman Sachs's financial conditions indexes, global, emerging market and Chinese financial conditions last week hit their tightest levels this year.
Persons: Aly, Jamie McGeever, Jackson, Jerome Powell, Christine Lagarde, Kazuo Ueda, Gina Raimondo, Goldman, Fed's MIchael Barr, Diane Craft Organizations: REUTERS, China Securities Regulatory Commission, . Commerce, Treasury, Higher, Thomson, Reuters Locations: Shanghai, Shenzhen, China, Asia, India, Indonesia, Vietnam, Beijing, Japan, U.S, Australia
Morning Bid: Weak data, Nvidia lift risk appetite
  + stars: | 2023-08-24 | by ( ) www.reuters.com   time to read: +2 min
Stock markets also got a lift from Nvidia (NVDA.O). The blockbuster earnings and forecast from the stock market darling helped lift AI-related stocks, U.S. futures and Asian equities. Nvidia far exceeded expectations with its quarterly revenue forecast on Wednesday as an artificial-intelligence boom fuelled demand for its chips. The excitement could be short-lived as worries remain sticky, with a majority of analysts polled by Reuters expecting global stock markets to head for a correction in coming months. MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.5% but is still on course to clock its worst monthly performance since February.
Persons: Ann Wang, Banerjee, Jerome Powell, Ankur Banerjee, Jacqueline Wong Organizations: REUTERS, Stock, Nvidia, Reuters, Federal, Jackson, U.S ., Reuters Graphics Reuters, Thomson Locations: Taipei, Taiwan, Asia, Japan, Pacific
Office workers look at their mobile phones to check the local online banking app Toss as they gather at Seoul Museum of Art during a lunch break in Seoul, South Korea, April 13, 2023. Interest rate decisions and policy guidance from South Korea and Indonesia take center stage in Asia on Thursday, as investors also navigate the strong cross currents from global equity and bond markets the day before. On the Asian policy front, the Bank of Korea is expected to leave its key policy rate unchanged at 3.50% for a fifth consecutive meeting on Thursday and hold it steady for the rest of this year. Bank Indonesia is also expected to keep its key interest rate steady, at 5.75% for the seventh consecutive meeting and for the rest of the year too. Here are key developments that could provide more direction to markets on Thursday:- South Korea interest rate decision- Indonesia interest rate decision- South Korea producer price inflation (July)By Jamie McGeever; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.
Persons: Kim Hong, Jamie McGeever, Josie Kao Organizations: Seoul Museum of Art, REUTERS, Wall, Nvidia, Shanghai CSI, Bank of England, European Central Bank, Bank of, Bank Indonesia, Thomson, Reuters Locations: Seoul, South Korea, Indonesia, Asia, Europe, China, Shanghai, Japan, Bank of Korea, Korea
Staff lower Chinese national flag in front of screens showing the index and stock prices outside Exchange Square, in Hong Kong, China, August 18, 2023. REUTERS/Tyrone Siu/File Photo Acquire Licensing RightsAug 22 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Some analysts reckon Tokyo could intervene selling dollars around 150 yen, only four big figures away from the current 146 yen. The 10-year yield rose to 4.35% on Monday, its highest since late 2007, and the real 10-year yield topped 2% for the first time since July 2009. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Persons: Tyrone Siu, Jamie McGeever, Ditto, Jackson, Josie Kao Organizations: REUTERS, Foreigners, Stock Connect, Treasury, Tech, Nasdaq, Thomson, Reuters Locations: Exchange, Hong Kong, China, Asia, Japan, State, Beijing, U.S, Johannesburg, South Korea, Indonesia
REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing RightsAug 17 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Asian market sentiment on Thursday will again be a mix of caution and nervousness, with familiar roots: a supercharged dollar and rising U.S. bond yields, tightening financial conditions, and deepening concern over China. Goldman Sachs's financial conditions indexes show that Chinese and aggregate emerging market financial conditions have tightened sharply this month, by more than 100 basis points, and are both now the tightest this year. But the pressure on Beijing to do more to support the creaking economy can be seen in the 10-year yield's slide to its lowest since May 2020. Remarkably, China's 10-year yield is now 170 basis points below the 10-year U.S. Treasury yield, the widest gap since 2007.
Persons: Dado Ruvic, Jamie McGeever, Goldman, Brent, Josie Kao Organizations: REUTERS, People's Bank of, Treasury, Thomson, Reuters Locations: China, U.S, Asia, Hong Kong, Philippines, Tokyo, People's Bank of China, Beijing, Japan, Australia
Aug 16 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The word 'crisis' should always be used responsibly and judiciously when covering financial markets, business and economics, but are we at that point now with China? The People's Bank of China may have finally pulled the interest rate lever, but it had the expected impact of slamming the exchange rate. Compare and contrast China with Japan, as per Tuesday's bumper Q2 GDP data, and the U.S., where figures on Tuesday showed a surge in retail sales. Here are key developments that could provide more direction to markets on Wednesday:- New Zealand interest rate decision- China house prices (July)- Japan tankan surveys (August)By Jamie McGeever; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.
Persons: Jamie McGeever, Zhang Dandan, JP Morgan, Josie Kao Organizations: Peking University, People's Bank of, Atlanta, Thomson, Reuters Locations: China, New Zealand, Japan, Asia, People's Bank of China, U.S, Hong, Zealand
Annual consumer price inflation is expected to show a sharp rebound in July to 6.40% from 4.8%, and a slowdown in wholesale price deflation to -2.4% from -4.1%. Investors and the Bank of Japan, meanwhile, will be paying close attention to Japanese inflation data later in the week. Asian stocks have badly underperformed this year, largely due to worries over China which is battling weak growth, deflation, and capital outflows. The MSCI Asia ex-Japan equity index index has now fallen two weeks in a row for the first time since April, and is up only twice in the last eight weeks. Here are key developments that could provide more direction to markets on Monday:- India consumer inflation (July)- India wholesale inflation (July)- Germany wholesale inflation (July)By Jamie McGeever; editing by Diane CraftOur Standards: The Thomson Reuters Trust Principles.
Persons: Aly Song, Jamie McGeever, Diane Craft Organizations: Shanghai Stock Exchange, REUTERS, Tencent, Lenovo, Nasdaq, China's, Bank of Japan, Reuters, Thomson Locations: Pudong, Shanghai, China, New Zealand, Philippines, India, Asia, Japan, Beijing, outflows, Germany
Aug 10 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Lingering concern over China's slide into deflation and caution ahead of U.S. inflation data will keep markets in check on Thursday, as investors also eye India's interest rate decision, wholesale inflation from Japan and Philippine GDP data. Although Chinese stocks fell for a third day on Wednesday the rest of Asia shrugged off the Chinese deflation figures, and the MSCI Asia ex-Japan index rose 0.5% for its best performance so far this month. Also on the inflation front, the annual rate of Japanese wholesale price inflation is expected to have fallen to 3.5% in July from 4.1% in June. Interest rate markets are pricing in a decent chance of a quarter-point hike, if not this week then certainly by the end of the year.
Persons: Jamie McGeever, Asia shrugged, Fitch Organizations: Reserve Bank of India, Thomson, Reuters Locations: Japan, Philippine, United States, China, Asia, India, Philippines
Aug 7 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The U.S. yield curve steepened by 20-30 basis points last week - the biggest steepening since March - and the steepening of the 2-year/30-year yield curve by 30 basis points was one of the biggest weekly moves in over a decade. U.S. fiscal worries are also growing, however, and the Bank of Japan's recent 'yield curve control' surprise has lifted Japanese bond yields. Several potential market-moving data releases and events in Asia are also due, as well U.S. consumer price inflation for July. Monday's calendar in Asia is fairly light, with Indonesian Q2 GDP and Thai inflation for July the main releases.
Persons: Jamie McGeever, JP Morgan, Diane Craft Organizations: Nasdaq, Bank of, Sony, Reuters, Reserve Bank of India, China FX, Thomson Locations: Indonesia, Philippines, Asia, Japan, U.S, China, Beijing, Thailand
Aug 4 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The long end of the U.S. Treasury curve is getting crushed, triggering a surge in long-dated yields and 'steepening' of the curve. The Asian economic data and corporate events calendar on Friday is light, with only Philippines inflation and Singapore retail sales on tap, leaving regional markets beholden to global risk sentiment. The 10-year and 30-year yields are at their highest levels since November, comfortably above 4.0%, and the latter is on track for its biggest weekly rise this year. Global currency market and S&P 500 equity volatility are the highest in two months, and implied volatility in dollar/yen trading is registering its steepest weekly rise since March.
Persons: Jamie McGeever, Deepa Babington Organizations: Investors, U.S, Treasury, Apple, Thomson, Reuters Locations: Asia, Singapore, Japan, Philippines
Passersby are reflected on an electric stock quotation board outside a brokerage in Tokyo, Japan April 18, 2023. REUTERS/Issei Kato/File PhotoAug 3 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Services PMI data from Australia, Japan, India and China are due on Thursday, with China's unofficial Caixin report coming under the closest scrutiny. The U.S. yield curve has been steepening for more than a week, led by selling at the long end. The yen ended the day little changed, and dollar/yen volatility is comfortably lower than it was before Friday's BOJ move.
Persons: Issei Kato, Jamie McGeever, Friday's, Marguerita Choy Organizations: REUTERS, AAA, PMI, Nasdaq, Treasury, Bank of, Thomson, Reuters Locations: Tokyo, Japan, Asia, Australia, India, China, U.S
Morning Bid: Markets shrug off upbeat news from Japan and China
  + stars: | 2023-07-21 | by ( ) www.reuters.com   time to read: +2 min
With a Reuters poll pointing to a sharp slowing in Tokyo's core CPI for July next week, Bank of Japan Governor Kazuo Ueda is likely to remain confident about sticking to Japan's ultra-easy policy settings next Friday, keeping the yen on the back foot. China's latest efforts to boost consumption provided a small lift to mainland stocks, but markets continue to look ahead to the Politburo meeting, expected next week, for bigger stimulus announcements. The piecemeal measures unveiled so far suggest there's plenty of scope for disappointment. Where Beijing seems to be having greater impact is in propping up the Chinese yuan , which was holding the bulk of Thursday's gains after another stronger-than-forecast midpoint setting on Friday. A sharp drop in the July GfK consumer confidence gauge, which came in below the lowest Reuters poll forecast, suggests sentiment remains downbeat after what's expected to be a weaker UK retail sales reading for June.
Persons: Sonali Desai, Kazuo Ueda, Edmund Klamann Organizations: Netflix, Bank of Japan, U.S . Federal Reserve, European Central Bank, Reuters, Thales SA, Bank, American Express, Schlumberger NV, Thomson Locations: Asia, Japan, U.S, Beijing, propping
July 19 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The disconnect between Asia and the rest of the world has widened recently, and correlations between the MSCI Asia ex-Japan index and leading U.S. and global indexes are the weakest in about a month. Bulls in Asia will be hoping some of that momentum drives local trading on Wednesday. The MSCI Asia equity index ex-Japan is up 4.6% this year, significantly underperforming the MSCI World index, S&P 500 and Nasdaq which are up 17%, 19% and 38%, respectively. Disappointing second quarter growth figures this week pushed the Chinese economic surprises index to its lowest in more than three years.
Persons: Jamie McGeever, John Kerry, Li Shangfu, Henry Kissinger, Pita Limjaroenrat, Josie Kao Organizations: Bulls, Nasdaq, Bank of America, Bank of New York Mellon, Biden, Thomson, Reuters Locations: Asia, Japan, U.S, China, Beijing, Thailand, Zealand
July 18 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Data on Monday showed that the world's second largest economy grew at a frail pace in the second quarter while China's Evergrande Group (3333.HK), the world's most indebted property developer, said it lost an eye-watering $81 billion over 2021 and 2022. The shadow over local markets cast by China's second quarter GDP data on Monday is unlikely to lift completely by Tuesday, and the pressure on policymakers in Beijing to deliver more stimulus to shore up activity will surely increase. Chinese GDP grew 0.8% in April-June from the previous quarter, beating the consensus forecast of 0.5%. JPMorgan, Morgan Stanley and Citigroup trimmed China's growth forecast for 2023 to as low as 5%, with Morgan Stanley also trimming its 2024 GDP forecast by 40 basis point to 4.5%.
Persons: Jamie McGeever, China's, Morgan Stanley, Janet Yellen, Josie Kao Organizations: HK, Nasdaq, JPMorgan, Citigroup, Treasury, Reserve Bank of Australia, Thomson, Reuters Locations: China, Asia, Japan, U.S, Beijing, Real, India
July 17 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The macro and market week in Asia starts with a bang on Monday, with a raft of top-tier economic indicators from China culminating in second-quarter GDP growth data. A raft of Chinese economic indicators for June - investment, retail sales, industrial production and unemployment - will be released on Monday, as well as the second-quarter GDP report. A sub-consensus Q2 GDP print on Monday could tilt expectations toward further easing. Here are key developments that could provide more direction to markets on Monday:- China GDP (Q2)- China investment, retail sales, industrial production, unemployment (June)- Indonesia trade (June)By Jamie McGeever; Editing byOur Standards: The Thomson Reuters Trust Principles.
Persons: Jamie McGeever, Goldman, Morgan Stanley, Goldman Sachs Organizations: Bank of America, Tesla, Netflix, Thomson, Reuters Locations: Asia, China, U.S, Japan, New Zealand, Australia, Indonesia
July 14 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Together, the fall in the dollar's value and U.S. bond yields is a potent loosening of financial conditions for global markets, particularly emerging markets. MSCI's World stock index jumped more than 1% on Thursday to its highest since April last year. The S&P 500 and Nasdaq also hit fresh 15-month highs, and the MSCI Asia ex-Japan index jumped more than 2%. The broadest index of Asia and Pacific shares is now up 5% this week, firmly on course for its best week since November.
Persons: Jamie McGeever, Premier Li Qiang, Josie Kao Organizations: Investors, Nasdaq, Premier, Thomson, Reuters Locations: Singapore, Asia, Japan, Pacific, Japanese, China, Beijing, India
July 12 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Figures on Tuesday showed surprisingly strong bank lending in June, helped by central bank efforts to support an economy that has struggled to rebound from pandemic restrictions as expected. On a macro level, the U.S. dollar's weakness continues to help fuel the optimism across Asian markets. New Zealand's central bank is expected to keep its cash rate - already at a 14-year high and the highest in the developed world - at 5.50% on Wednesday and leave it there for the rest of the year. But with inflation running well above target, rates markets are leaning toward one more 25 basis point hike by year end.
Persons: Jamie McGeever, Goldman Sachs, Foxconn, Deepa Babington Organizations: Reserve Bank of New, Global, Thomson, Reuters Locations: Asia, U.S, China, Japan, New, Zealand, India
This was just its fifth one-year total shareholder negative return since 2003. Singapore's state investment company Temasek recorded its first annual shareholder negative return since 2020, weighed by a challenging macroeconomic and geopolitical environment. Net portfolio value came in at $382 billion Singapore dollars ($284.77 billion), compared to S$403 billion a year ago. Still, Temasek's decline in annual shareholder return in 2022/23 compares relatively favorably with global stock market returns. Its three-year total shareholder return stood at 8%, while its 10-year return was at 6% and 20-year return at 9%.
Persons: Lim Boon Heng Organizations: Temasek Holdings, Temasek, Singapore Locations: Singapore, Asia, Japan, China, Russia, Ukraine
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