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[1/2] An aerial view shows cars for export at a port in Yantai, Shandong province, China May 3, 2023. China Daily via REUTERS/File PhotoJune 30 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Goldman's emerging markets financial conditions index is the lowest in 16 months, which stands in contrast to developed economies where rates, bond yields borrowing costs of all stripes are rising sharply. The U.S. two-year yield jumped 15 basis points on Thursday, its biggest rise in a month, and traders are now pricing in at least one more quarter point rate hike this year. Here are key developments that could provide more direction to markets on Friday:- China PMIs (June)- Japan - Tokyo inflation (June)- U.S. PCE inflation (May)By Jamie McGeever;Our Standards: The Thomson Reuters Trust Principles.

Persons: Jamie McGeever, Goldman Sachs, Jerome Powell, China PMIs Organizations: REUTERS, Asia's, Bank of Japan, U.S, PCE, Thomson, Reuters Locations: Yantai, Shandong province, China, Japan, Tokyo, South Korea, U.S

☆ China PMI: services activity in China drops to weakest level in six months
▼ + stars: | 2023-06-29 | by ( Laura He | ) edition.cnn.com time to read: 1 min

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May 31 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever. Asian market focus on Wednesday turns to Chinese purchasing managers index figures, which will give the first insight into factory and service sector activity in the world's second largest economy in May. Asian markets on Wednesday might also get some relief from the dollar's slip on Tuesday in line with U.S. bond yields. China's PMI figures for May are expected to show another contraction in manufacturing activity. Service sector activity has been expanding since January, however, and it will be the extent to which that accelerates or slows that markets will be most attuned to.

Persons: Jamie McGeever, China PMIs Organizations: Congress, Relief, Nasdaq, Treasury, PMI, Service, Thomson, Reuters Locations: Washington, Hong Kong, China, Australia, Japan

☆ Oil prices dip on U.S. rate hike expectations, weak China PMI
▼ + stars: | 2023-05-01 | by ( Katya Golubkova | ) www.reuters.com time to read: +2 min

U.S. consumer spending was flat in March as an increase in outlays on services was offset by a decline in goods, but persistent strength in underlying inflation pressures could see the Federal Reserve raising interest rates again. The Fed is expected to increase interest rates by another 25 basis points this week. On Friday, oil prices mostly rose over 2% after energy firms posted positive earnings, and U.S. data showed crude output was declining while fuel demand was growing. Fuel demand rose to nearly 20 million bpd, its highest since November, according to the Energy Information Administration (EIA). EIA data last week showed U.S. crude oil and gasoline inventories fell more than expected as demand for the motor fuel picked up ahead of the peak summer driving season.

☆ China PMI factory activity unexpectedly cools in April
▼ + stars: | 2023-04-30 | by ( ) edition.cnn.com time to read: +3 min

The official manufacturing purchasing managers’ index (PMI) declined to 49.2 last month from 51.9 in March, according to data from the National Bureau of Statistics, below the 50-point mark that separates expansion and contraction in activity. That missed expectations of 51.4 tipped by economists in a Reuters poll and marked the first contraction since December, when the official manufacturing PMI was at 47.0. The world’s second-biggest economy grew faster than expected in the first quarter thanks to robust services consumption, but factory output has lagged amid weak global growth. China's manufacturing activity unexpectedly shrank in April, according to official data. The composite PMI, which includes manufacturing and non-manufacturing activity, dropped to 54.4 from 57.0.

☆ Shares and bonds ride high after soothing euro zone data
▼ + stars: | 2023-03-31 | by ( Marc Jones | ) www.reuters.com time to read: +6 min

Government bonds have gained as much as 5%, gold is 8% higher, while oil is down and the dollar has barely budged. The euro zone inflation numbers showed consumer prices rising 6.9% in March after an 8.5% increase in February, representing the sharpest deceleration since Eurostat started collecting data in 1991. Japan's Nikkei (.N225) also jumped 1% on Friday，as inflation data for the capital Tokyo highlighted broadening price pressures. The euro , which hit a one-week high against the dollar overnight on sticky German inflation data, dipped back under $1.09 again after the euro zone data but was still set for a 3% monthly rise. U.S. crude futures were flat at $74.40 per barrel, while Brent crude futures slipped 0.1% to $78.52 per barrel.

☆ Asian shares ride high in Q1 but keep vigil on inflation
▼ + stars: | 2023-03-31 | by ( Stella Qiu | ) www.reuters.com time to read: +5 min

The buoyant mood is likely to run into resistance in Europe, with caution setting in ahead of the euro zone inflation data. The pan-region Euro Stoxx 50 futures was flat, while S&P 500 futures eked out a gain of 0.2%. It is on course for a quarterly gain of 3.6%, after surging 12% in the three months that ended in December. Japan's Nikkei (.N225) also leaped 1%，as inflation data for the capital Tokyo highlighted broadening price pressures. That compared with an overwhelming bet on a 25 basis point hike a month ago before the banking volatility started.

☆ Asian shares ride high in Q1 but steel for U.S. inflation data
▼ + stars: | 2023-03-31 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

Japan's Nikkei (.N225) also gained 1%，as inflation data for the capital city Tokyo highlighted broadening price pressures. A slower than expected decline in German inflation has raised the stakes for U.S. personal consumption expenditures (PCE) inflation, tracked by the Federal Reserve for monetary policy, later in the day. Economists are expecting the PCE index to ease to 0.4% in February from January when it rose 0.6%. "With central banks still mindful of inflation risks, interest rates will stay at their peaks for several months. That compared with an overwhelming bet on a 25 basis point hike a month ago before the banking volatility started.

☆ Asian stocks rally sputters as China pulls back, higher U.S. yields weigh
▼ + stars: | 2023-03-02 | by ( Stella Qiu | ) www.reuters.com time to read: +5 min

U.S. futures erased earlier gains, with the S&P 500 stock futures falling 0.5% and Nasdaq futures down 0.7%. Tesla shares (TSLA.O) slumped 5.5% in after-hour trading, after the Tesla Investor Day failed to excite investors. On Thursday, the benchmark 10-year Treasury yields hit a fresh four-month high of 4.0160%, after hitting 4% overnight. In the currency markets, the U.S. dollar index, measuring the greenback's value against a basket of major peers, gained 0.2% to 104.6. Oil prices were largely steady on Thursday, having risen by 1% the previous day due to optimism over China's recovery.

☆ Dollar slides, yuan gains on China PMI; hot inflation lifts euro
▼ + stars: | 2023-03-01 | by ( ) www.cnbc.com time to read: +3 min

Yen, euro and U.S. dollar banknotes of various denominations. Meanwhile, inflation data from five German states was largely unchanged in the high single digits in February, pointing to no let-up in stubborn price pressures at the national level. Preliminary pan-German inflation data is to be published at 1300 GMT, calculated using data from up to 16 German states. "The euro is being well supported by the inflation data," Nordea's Christensen said. "We're looking for a more solid euro area inflation reading tomorrow than we had expected going into this week."

☆ Asia stocks feel rate pain, dollar on a roll
▼ + stars: | 2023-02-27 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

China has manufacturing surveys and the National People's Congress kicks off at the weekend and will see new economic policy targets and policies, as well as a reshuffling of government officials. S&P 500 futures were flat, while Nasdaq futures edged up 0.1%. Fed futures now have rates peaking around 5.42%, implying at least three more hikes from the current 4.50% to 4.75% band. Markets have also nudged up the likely rate tops for the European Central Bank and the Bank of England. Ten-year Treasury bonds also yield more than twice the estimated dividend yield of the S&P 500 Index, and with much less risk.

☆ China PMI: economic activity expands for the first time in months as Covid 'exit wave' ends
▼ + stars: | 2023-01-31 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Economic activity in China has expanded for the first time in four months as disruptions caused by the abrupt end of its zero-Covid policy appears to be fading. The official non-manufacturing PMI, which tracks activity in the services and construction sectors, surged to 54.4 in January from 41.6 in December, also marking its first expansion in four months. This is a sign that China’s Covid “exit wave” is coming to an end, said analysts from Nomura in a research report. The official PMI survey mainly covers larger businesses and state-owned companies. Zhu Wanchang/VCG/Getty ImagesChina scrapped most of its pandemic restrictions in early December, effectively ending its three-year-long zero-Covid policy.

chartAnd although Wall Street closed in the red on Tuesday, the VIX 'fear index' fell - a sign investors are sanguine about downside risks. Powell and colleagues will be frustrated that U.S. financial conditions have eased in recent weeks despite their increasingly tough stance on inflation. Since Wall Street bottomed in mid-October, Goldman's financial conditions index has fallen almost 100 basis points, mainly thanks to the rebound in stocks. If Powell wants to address that, he will have to find the words to get that message across. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Investors face another (likely) bumper U.S. rate hike from the Fed later this week, and profit-taking and re-positioning as the new month begins could also burst the revival bubble. And not all equity markets are smiling - MSCI's Asia ex-Japan index is almost certain to close in the red for an unprecedented 10th month in a row. The divergence between U.S. and Asian markets is also reflected in the historic levels of dollar/Asia exchange rates, the widening gap between the U.S. and Chinese economic outlooks, and general investor confidence in the Fed versus Asian central banks' policy path. The PBOC is also struggling to keep its exchange rate depreciation in check. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Stocks week ahead: Intel is the Dow's biggest loser
▼ + stars: | 2022-09-25 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +6 min

Shares of Intel (INTC) are down more than 45% this year, making it the biggest dog of the Dow. Intel (INTC) is struggling despite well-publicized plans to build more plants in the United States and hire more at home. To be fair, Intel is not the only chip company that’s having a tough time this year. But longer-term, I think Intel will right the ship,” said Jeff Travis, portfolio manager of Oak Associates Funds. Travis does think that semiconductor stocks are still a good “secular growth industry” and that valuations are now attractive given how sharply the stocks have fallen.

☆ Take Five: Intervention watch is here
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +5 min

Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. Election results from Italy, euro area inflation numbers and U.S. and Chinese data also give investors plenty to chew over. Japan's authorities finally had enough of a weak yen and intervened to stem a sharp decline against the dollar. Investors have already ramped up expectations for another 75 bps, ECB rate hike in October, so the data shouldn't change the near-term rate outlook. How a new government navigates an energy crunch that is pushing highly-indebted Italy into recession will also be under scrutiny.

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