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☆ Asian stocks teeter as Russia, rates and China risks weigh
▼ + stars: | 2023-06-27 | by ( Kane Wu | ) www.reuters.com time to read: +3 min

MSCI's gauge of Asia Pacific stocks outside Japan (.MIAPJ0000PUS) was up 0.08% at 0126 GMT, after dropping 0.06% an hour earlier. "Asian equities are set for a downturn on Tuesday, prompted by Wall Street's risk-aversion behavior," said Anderson Alves, a global macro analyst at ActivTrades. All three major U.S. stock indexes ended in the red on Monday, with megacap momentum stocks pulling the tech-heavy Nasdaq down the most. The Dow Jones Industrial Average (.DJI) fell 0.04%, the S&P 500 (.SPX) lost 0.45% and the Nasdaq Composite dropped 1.16%. Hang Seng Index (.HSI) and China's benchmark CSI300 Index (.CSI300) opened up 0.3% and 0.1%, respectively, shaking off losses from the past four sessions.

Persons: Wall, Anderson Alves, Alves, Goldman Sachs, Redmond Wong, Wong, Vladimir Putin's, Brent, Kane Wu, Sam Holmes Organizations: Nikkei, ActivTrades, Dow Jones, Nasdaq, U.S, Global, China, Saxo Markets, Treasury, Thomson Locations: HONG KONG, Russia, Asia Pacific, Japan, Europe, U.S, ActivTrades, Asia

☆ China's modest rate cut sends stocks lower
▼ + stars: | 2023-06-20 | by ( Joice Alves | ) www.reuters.com time to read: +4 min

LONDON, June 20 (Reuters) - European stocks and U.S. futures fell on Tuesday after China cut interest rates by less than expected and the market awaited more detail on Beijing's plans to shore up a stuttering economic recovery. The People's Bank of China lowered the medium-term lending facility rate on Thursday last week. "The meeting helped improve sentiment, but the market also understands that there's strategic competition between the U.S. and China," said Redmond Wong, Greater China market strategist at Saxo Markets. A central banker on Tuesday also hinted there was room for policy adjustment from the current path of aggressive rate hikes. Gold edged up 0.1% to $1,951.74 as the dollar index eased at 102.45 but lacked clear momentum as traders awaited U.S. Federal Reserve Chair Jerome Powell's testimony later this week for more direction on the interest rate path.

Persons: Susannah Streeter, Hargreaves Lansdown, Xi, Rodrigo Catril, Issei Kato, Antony Blinken's, Redmond Wong, Jerome Powell's, Brent, Joice Alves, Selena Li, Anisha, Susan Fenton, Jason Neely Organizations: Hargreaves, People's Bank of, National Australia Bank, REUTERS, Citi, U.S, Saxo Markets, Reserve Bank, Australia's, Bank of England, Federal, Thomson Locations: China, Asia, U.S, Beijing, People's Bank of China, Tokyo, Japan, United States, Greater China, German, London, Hong Kong, Bengaluru

China cut its benchmark loan prime rates (LPR) for the first time in 10 months on Tuesday, with a smaller-than-expected 10-basis point reduction in the five-year LPR. China's benchmark CSI (.CSI300) slipped 0.17%, with the real estate index (.CSI931775) falling 1.9%, its biggest daily decline in a month. "I don't think they (the LPR cuts) are going to move the needle at all," said Redmond Wong, Greater China market strategist at Saxo Markets. He said a 15 basis-point cut would have sent a "stronger message" that could boost sentiment in China's property sector. The People's Bank of China lowered the medium-term lending facility rate on Thursday last week.

Persons: Redmond Wong, Xi, Rodrigo Catril, Antony Blinken's, Saxo's Wong, Brent, Selena Li, Joice Alves, Anisha Sircar, Susan Fenton Organizations: CSI, Saxo Markets, People's Bank of, National Australia Bank Senior, Citi, U.S, Reserve Bank, Australia's, Bank of England, Thomson Locations: HONG KONG, China, Asia, Pacific, Japan, Greater China, Beijing, People's Bank of China, United States, Hong Kong, London

☆ Asia shares fall on China's modest rate cut
▼ + stars: | 2023-06-20 | by ( Selena Li | ) www.reuters.com time to read: +3 min

HONG KONG, June 20 (Reuters) - Stocks in Asia fell on Tuesday as investors worried China's latest rate cut was not enough to boost confidence in the weakening economy and awaited a wider stimulus package by Beijing. China, in a highly anticipated move, cut two key benchmark lending rates for the first time in 10 months on Tuesday, with its one-year loan prime rate (LPR) lowered by 10 basis points to 3.55% and the five-year LPR cut by the same margin to 4.20%. "I don't think they (the LPR cuts) are going to move the needle at all," said Redmond Wong, Greater China market strategist at Saxo Markets. He said a 15 basis-point cut would be a "stronger message" to boost China's property sector. The People’s Bank of China lowered the medium-term lending facility rate on Thursday last week.

Persons: China's, Redmond Wong, Xi, Rodrigo Catril, Goldman Sachs, Antony Blinken, Saxo's Wong, Brent, Selena Li, Sonali Paul Organizations: CSI, Saxo Markets, People’s Bank of, National Australia Bank Senior, U.S, Japan's Nikkei, Treasury, Thomson Locations: HONG KONG, Asia, Beijing, China, Pacific, Japan, U.S, Greater China, People’s Bank of China, United States, Hong Kong

☆ Warren Buffett pours more money into Japan’s stock market
▼ + stars: | 2023-06-19 | by ( ) edition.cnn.com time to read: +2 min

Billionaire investor Warren Buffett’s Berkshire Hathaway (BRKA) has added to its holdings in Japan’s five biggest trading houses, likely underpinning strong momentum propelling the nation’s stock market to multi-year highs. Berkshire said Monday its stakes in Itochu (ITOCF), Marubeni (MARUY), Mitsubishi Corp, Mitsui & Co (MITSY), and Sumitomo now average more than 8.5%. “The tailwinds for Japanese equities continue to multiply,” said Charu Chanana, market strategist at broker Saxo Markets in Singapore. Known as “sogo shosha,” Japanese trading houses deal in a variety of materials, products and food, often serving as intermediaries, and provide logistical support. The trading firms’ regulatory filings of June 12 showed Berkshire holding 7.4% of Itochu’s stock, 8.3% of Marubeni and Mitsubishi’s stock, 8.1% of Mitsui’s stock and 8.2% of Sumitomo’s stock.

Persons: Warren Buffett’s Berkshire Hathaway, Monday’s, ”, Charu Organizations: Berkshire, Mitsubishi Corp, Mitsui & Co, Sumitomo, Nikkei, Saxo Markets, America Berkshire Locations: Singapore, Berkshire, United States

☆ Asia shares near 4-month peak, yen falls as BOJ maintains policy
▼ + stars: | 2023-06-16 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

The BOJ rounded up a central bank heavy week, keeping its pledge to "patiently" sustain massive stimulus to ensure Japan sustainably achieves its 2% inflation target accompanied by wage hikes. As widely expected, the BOJ maintained its -0.1% short-term interest rate target and a 0% cap on the 10-year bond yield set under its yield curve control (YCC) policy. Markets are now pricing in 67% chance of the U.S. central bank raising its interest rate by 25 basis points next month, according to CME FedWatch tool. The European Central Bank on Thursday left the door open to more rate hikes as it flagged risks from rising wages and revised up its inflation projections. The ECB also raised interest rates by 25 bps taking its policy rate to 3.5%, a level not seen since 2001.

Persons: DAX, Kazuo Ueda's, Charu, HSI, Ryan Brandham, Lagarde, Brent, Ankur Banerjee, Kim Coghill Organizations: Federal, Bank of Japan, Ueda, Saxo Markets, Nikkei, Nasdaq, Validus Risk Management, European Central Bank, ECB, NatWest Markets, China . U.S . West Texas, Thomson Locations: SINGAPORE, Asia, Pacific, Japan, North America, U.S, China . U.S

☆ Asian shares slide as traders fret on Fed rates
▼ + stars: | 2023-06-08 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was down 0.53%, while Japan's Nikkei (.N225) edged 0.08% higher. The move from the BoC comes after Australia's central bank also stunned markets by hiking interest rates earlier this week. Treasury yields were stable in early Asian hours after surging overnight after the move from Canada's central bank. The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was up 0.4 basis points at 4.554%. In the currency market, the dollar index , which measures the U.S. currency against six major peers, eased 0.029%, with the euro up 0.09% to $1.0707.

Persons: Ryan Brandham, hawkish, Hong, HSI, Saxo, Brent, Ankur Banerjee, Christian Schmollinger Organizations: Bank of Canada, Federal Reserve, Japan's Nikkei, BoC, Validus Risk Management, Reserve Bank of Australia, Fed, Saxo Markets, Traders, Reuters, Treasury, Thomson Locations: SINGAPORE, Asia, Pacific, Japan, North America, China, Canada's

In the previous session, the index dropped as data pointing to tepid U.S. business activity sparked profit-taking following gains in the prior week. MSCI's broadest index of world stocks (.MIWD00000PUS) was largely flat, while Tokyo's Nikkei (.N225) gained 0.90% and China's blue-chip index (.CSI300) dropped almost 1%. Three months ago, the question was how fast would rate hikes come. Now, a pause and then more U.S. rates hikes could follow as a result of sticky inflation, said Mike Kelly, head of multi-asset at PineBridge Investments. In oil markets, prices gave up most gains from the previous session after the world's top exporter, Saudi Arabia, said it would further cut output.

Persons: Toby Melville, Germany's DAX, Mike Kelly, We're, Gary Dugan, bitcoin, Nell Mackenzie, Dhara Ranasinghe, Mark Potter Organizations: London Stock Exchange Group, City of, REUTERS, Reserve, British Retail Consortium, Tokyo's Nikkei, Reserve Bank of Australia, Fed, European Central Bank, Bank of Japan, PineBridge Investments, Saxo Markets, Dalma, Thomson Locations: City, City of London, Britain, U.S, Saudi Arabia

☆ Asian stocks wobble as traders weigh Fed rate pause option
▼ + stars: | 2023-06-06 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

A string of economic data along with last week's dovish rhetoric from Fed officials have emboldened bets of the Fed refraining from an interest rate hike at its June 13-14 meeting. Saxo strategists said recession concerns, firmer signs of Fed rate cuts or China stimulus measures may be needed to turn sentiment on the energy markets. In the currency market, the dollar index , which measures greenback against six major peers, eased 0.01%. The Australian dollar eased 0.02% to $0.661 as traders wait for the policy decision from the country's central bank. "We expect the RBA to leave the cash rate on hold," analysts at Commonwealth Bank of Australia said in a note.

Persons: Australia's, Hong, nonfarm, Gary Dugan, Brent, Saxo, Sterling, bitcoin, Ankur Banerjee, Shri Navaratnam Organizations: Federal Reserve, Tokyo's Nikkei, Reserve Bank of Australia's, Federal, Saxo Markets, Dalma, OPEC, Commonwealth Bank of Australia, CBA, Thomson Locations: SINGAPORE, Asia, Pacific, Japan, China, U.S, Saudi Arabia

☆ Dollar nudges lower as U.S. debt ceiling deal dents safe-haven appeal
▼ + stars: | 2023-05-29 | by ( Dhara Ranasinghe | ) www.reuters.com time to read: +4 min

Summary Dollar edges down following U.S. debt ceiling dealRisk currencies rallyTurkish lira touches new record lowLONDON, May 29 (Reuters) - The dollar nudged lower on Monday, pulling back from six-month peaks against the yen as a U.S. debt ceiling deal lifted risk appetite across world markets and dented the greenback's safe-haven appeal. Having briefly touched a six-month high of 140.91 yen during Asia trade, the dollar drifted lower and was last down 0.25% at 140.25 yen. "We've got a risk-positive response so far to the debt deal news," said Ray Attrill, head of FX strategy at National Australia Bank. "Obviously there's still the need to get this debt deal over the line, but I think markets are happy to travel on the presumption that it will get done before the new X-date." Talk that the U.S. rate hiking cycle may not be over as soon as hoped given signs of economic strength have bolstered the dollar this month and could support the currency even as U.S. debt ceiling worries abate.

☆ Chinese company earnings reveal lopsided economic recovery
▼ + stars: | 2023-05-10 | by ( Summer Zhen | ) www.reuters.com time to read: +4 min

Restaurants and tourism businesses recovered, with travel-related consumer services sector earnings surging 155%, data from China International Capital Corp (CICC) showed. Food-and-beverage sector earnings jumped 18% and automobiles were up a smaller 8%. Several analysts believe the first quarter will be the low point for 2023 and full-year earnings will reach double digits. Refinitiv data forecasts full-year earnings growth of 26% for companies listed on the Shanghai Stock Exchange. The materials sector posted the worst results, with earnings in steel and building materials tumbling more than 60%, respectively.

☆ Shares rise, dollar weakens on bank sector fears
▼ + stars: | 2023-05-05 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

SINGAPORE, May 5 (Reuters) - Asian stocks rose, the dollar eased and gold hovered around its record highs on Friday, as jittery investors remained nervous about the U.S. banking sector following another rout in shares of regional lenders. Wall Street ended lower on Thursday after Los Angeles-based PacWest Bancorp's (PACW.O) move to explore strategic options deepened fears about the health of U.S. lenders as pressure grows on regulators to take more steps to shore up the country's banking sector. Shares of U.S. regional banks sank this week in the wake of the collapse of First Republic Bank over the weekend that has brought back fears of a financial sector crisis. The Federal Reserve on Wednesday raised interest rates by 25 basis points, but hinted that its marathon hiking cycle may be ending. China shares (.SSEC) rose 0.21%, while Hong Kong's Hang Seng index (.HSI) was up 0.6%, helping lift the region's shares.

☆ It's a 'pretty frustrating' time for many traders, strategist says
▼ + stars: | 2023-04-19 | 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 EmailIt's a 'pretty frustrating' time for many traders, strategist saysCharu Chanana, market strategist at Saxo Markets, says markets are struggling to find direction and face a "Goldilocks situation."

☆ Dollar eases as US inflation cools
▼ + stars: | 2023-04-13 | by ( Ankur Banerjee | ) www.reuters.com time to read: +2 min

SINGAPORE, April 13 (Reuters) - The dollar was on the back foot on Thursday after cooler-than-anticipated U.S. inflation data lifted risk sentiment and stoked expectations that the Federal Reserve will be done with its monetary tightening after hiking one last time next month. The dollar index , which measures the currency against six major peers, eased 0.03% to 101.44, hovering around a one week low of 101.40 after sinking 0.6% overnight. "While disinflation trends continue and broadened across headline, core and supercore measures, the CPI report is hardly an all clear on inflation," strategists at Saxo Markets said. Taylor Nugent, an economist at National Australia Bank, said the CPI data and the minutes provided ample fodder for those reading the Fed tea leaves, noting that inflation showed welcome, but not overwhelming progress. The Japanese yen weakened 0.04% to 133.20 per dollar, while sterling was last trading at $1.2486, up 0.04% on the day.

☆ Dollar eases as U.S. inflation cools
▼ + stars: | 2023-04-13 | by ( ) www.cnbc.com time to read: +2 min

An image of the U.S. dollar bill and a euro coinThe dollar was on the back foot on Thursday after cooler-than-anticipated U.S. inflation data lifted risk sentiment and stoked expectations that the Federal Reserve will be done with its monetary tightening after hiking one last time next month. The dollar index , which measures the currency against six major peers, eased 0.03% to 101.44, hovering around a one week low of 101.40 after sinking 0.6% overnight. "While disinflation trends continue and broadened across headline, core and supercore measures, the CPI report is hardly an all clear on inflation," strategists at Saxo Markets said. Taylor Nugent, an economist at National Australia Bank, said the CPI data and the minutes provided ample fodder for those reading the Fed tea leaves, noting that inflation showed welcome, but not overwhelming progress. The Japanese yen weakened 0.04% to 133.20 per dollar, while sterling was last trading at $1.2486, up 0.04% on the day.

The inflation data came on the heels of last Friday's employment report, which showed a solid pace of job growth in March and the unemployment rate falling back to 3.5%. In Europe, stock markets rose after the U.S. data and the broad STOXX 600 index was last up 0.5% (.STOXX) and holding near one-month highs. BONDS UP, DOLLAR DOWNU.S. bonds yields fell after the CPI numbers. Rate-sensitive two-year Treasury yields were last down 12 basis points at 3.93% , while U.S. 10-year yields fell 6 bps to 3.37%. The dollar fell with an index measuring the U.S. currency against six rivals down 0.4% at 101.72.

REUTERS/StaffApril 12 (Reuters) - World stocks and bond yields stalled on Wednesday as markets anticipated crucial U.S. inflation data which could give signals on how soon the Federal Reserve will end its aggressive rate hikes. Markets were in wait-and-see mode ahead of the data, with the pan-European STOXX 600 index inching up 0.3% by 0820 GMT, while Britain's FTSE (.FTSE) was up 0.6%. Government bond yields were also little moved with benchmark U.S. 10-year Treasury yields unchanged on the day at 3.43%. "We do not assume that the discrepancy between Fed and market expectations will end today or in the near future," Reichelt said. With oil prices rising again and labour market cooling only gradually, risk remains tilted for core inflation to remain elevated for longer," they said.

☆ Asian stocks ease ahead of US inflation data, Fed minutes
▼ + stars: | 2023-04-12 | by ( Ankur Banerjee | ) www.reuters.com time to read: +5 min

The Eurostoxx 50 futures was down 0.16%, German DAX futures up 0.01% and FTSE futures down 0.07%. The consumer price index is expected to show core inflation rose 0.4% on a monthly basis and 5.6% year-over-year in March, according to a Reuters poll of economists. Markets are now pricing in a 66% chance of the Fed raising interest rates by 25 basis points in May and then pausing for the subsequent meetings, according to the CME FedWatch tool. The Fed last month raised interest rates by a quarter of a percentage point, taking it to a range of 4.75% to 5.00%. With oil prices rising again and labour market cooling only gradually, risk remains tilted for core inflation to remain elevated for longer," they said.

REUTERS/Florence Lo/File PhotoSummarySummary Companies Five big lenders post over 3.5% annual net profit growthNet interest margin shrank at all fiveNPL ratios steady or down for all fiveBEIJING, March 30 (Reuters) - China's Big Five lenders posted above 3.5% annual net profit growth this week, but warned that the foundations of the country's recovery were "not yet solid". China's Bank of Communications Co Ltd (BoCom) (601328.SS), and Bank of China (BoC) (601988.SS) both posted just over 5% annual net profit growth on Thursday. Even higher figures came from the Agricultural Bank of China Ltd (601288.SS) (AgBank) on Thursday and China Construction Bank Corp on Wednesday, which both posted over 7% annual net profit growth. Industrial and Commercial Bank of China (ICBC) (601398.SS), , the world's largest listed lender by assets, came in at 3.5% annual net profit growth. NPLsWhile all five lenders posted steady or falling non-performing loan ratios, they also logged shrinking net interest margins (NIM), a key gauge of bank profitability.

☆ Bank relief and Alibaba plans nudge stocks higher
▼ + stars: | 2023-03-30 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) gained for a third day in a row, rising 0.3%. It is eyeing two consecutive quarters in the green for the first time since the middle of 2021. The yen last traded at 132.75 to the dollar. Two-year yields are down 30 basis points for the quarter, the first quarterly fall since March 2020. Investors are hoping the plans signal authorities' tacit approval for growth and profit ahead.

☆ Dollar steady on higher-for-longer rates outlook; yen volatile
▼ + stars: | 2023-02-24 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

SINGAPORE, Feb 24 (Reuters) - The dollar held firm on Friday as investors braced for U.S. interest rates to be higher for longer, while the yen was volatile, with incoming Bank of Japan Governor Kazuo Ueda saying it was appropriate to maintain an ultra-loose monetary policy. The yen was volatile on the day and swung between gains and losses against the dollar as investors parsed through the comments from Ueda, who was speaking at the lower house confirmation hearing. The recent spate of strong U.S. economic data and hawkish rhetoric from Fed officials have led the dollar to erase its year to date losses. The dollar index , which measures the U.S. currency against six other rivals, was up 0.019% at 104.580 and was set for a fourth straight week of gains. The euro was up 0.04% at $1.0599, while sterling was last trading at $1.2016, up 0.02% on the day.

☆ Instant view: Incoming BOJ chief Ueda says current low rates appropriate
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: +6 min

Feb 24 (Reuters) - Incoming Bank of Japan (BOJ) Governor Kazuo Ueda said on Friday it was appropriate to maintain ultra-loose monetary policy as inflation has yet to sustainably and steadily meet the central bank's 2% target. "I think he's intentionally doing that, so that the market will calm down a little bit about policy change expectations." "I don't think Ueda has the same stance as (Haruhiko) Kuroda but it is not clear whether Ueda would tweak the BOJ policy as the market expected." CHARU CHANANA, MARKET STRATEGIST, SAXO MARKETS, SINGAPORE"No surprises there, we expected Ueda to take it slow and he's starting off echoing Kuroda's views. He has been out of touch with the BOJ policy making since 2005 and will take time even if he was to consider policy normalisation at some stage."

☆ Asian shares slip, dollar rally on hold as Fed cues eyed
▼ + stars: | 2023-02-21 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) slipped 0.7% to 529.97, hovering around six-week lows of 529.30 touched last week. European stock futures indicated stocks were set to decline, with Eurostoxx 50 futures down 0.14%, German DAX futures 0.07% lower and FTSE futures down 0.13%. The yield on 10-year Treasury notes was up 2.3 basis points to 3.852%., after touching a three-month high of 3.929% on Friday. Investor focus is firmly on the release on Wednesday of the minutes of the Fed's latest meeting earlier this month when it raised interest rates by 25 basis points. The yen weakened 0.11% to 134.38 per dollar, while sterling was last trading at $1.2026, down 0.10%.

☆ Asian shares stutter, dollar rally pauses as Fed cues eyed
▼ + stars: | 2023-02-21 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) eased 0.34% to 531.85, hovering around six-week lows of 529.30 it touched last week. China's shares (.SSEC) were set to start flat while Hong Kong's Hang Seng Index (.HSI) opened 0.1% lower. The yield on 10-year Treasury notes was up 3.5 basis points to 3.863%, after touching a three-month high of 3.929% on Friday. Investor focus is firmly on the release on Wednesday of the minutes of the Fed's latest meeting when it raised interest rates by 25 basis points. The dollar index , which measures the U.S. currency against six other rivals, was last at 104.01, just below a six-week high of 104.67 it touched on Friday.

☆ Asia shares skid as rate-hike fears unnerve investors
▼ + stars: | 2023-02-17 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

Tracking Wall Street, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 0.68% lower and was set for its third straight week of losses. China shares (.SSEC) slipped 0.18% while Hong Kong's Hang Seng Index (.HSI) fell 0.09%. "The latest data supports the Fed view of needing to continue to raise rates and hold them there higher for longer." The market is now pricing U.S. interest rates to peak at 5.28% in July and remain above 5% till the end of the year. The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was up 4.2 basis points at 4.661%.

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