DIRS.INFO The most relevant business & tech news

☆ European markets open cautiously positive as traders digest ECB rate hike
▼ + stars: | 2023-06-16 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

The pan-European Stoxx 600 index was up 0.2% as trading started, with most sectors in marginally positive territory. European stock markets opened cautiously positive on Friday as investors digested the latest monetary policy decision from the European Central Bank. The ECB opted to raise its benchmark policy rate by a further 25 basis points. No, we are not at [the] destination," she added, indicating at least one more rate increase in July. While the ECB opted for more fiscal tightening, the Federal Reserve decided Wednesday to hold off on a rate hike, but said there would be two quarter-percentage point moves before the end of the year.

Persons: Christine Lagarde Organizations: Retail, European Central Bank, ECB, Federal Reserve, Bank of Japan Locations: Asia, Pacific

☆ CNBC Daily Open: Don’t fight the Fed? What’s that?
▼ + stars: | 2023-06-16 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +1 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Journeys to the eastWith U.S.-China ties growing rocky, venture capitalists in China are turning to Middle East investors to raise capital. The Federal Reserve said it's likely to raise rates further at its later meetings — and then keep them high for longer. Either the Fed's lying about rates or economic data's lying about a recession.

Persons: Antony Blinken, Bill Gates, Xi Jinping, A.I, Kevin Scott, it's, CNBC's Bob Pisani Organizations: CNBC, ECB, European Central Bank, Nikkei, Bank of Japan, U.S, Microsoft, Federal Reserve Locations: Asia, Pacific, China, East, U.S, Beijing

☆ Asia markets headed for mixed open ahead of Bank of Japan rate decision
▼ + stars: | 2023-06-16 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Kazuo Ueda, governor of the Bank of Japan (BOJ), far right, speaks during an event at the central bank's headquarters in Tokyo, Japan, on Wednesday, May 31, 2023. Ueda said central banks need to be more careful about how they communicate with increase in their toolkits and advancements in monetary policy making. Photographer: Noriaki Sasaki/The Yomiuri Shimbun/Bloomberg via Getty ImagesAsia-Pacific markets are set for a mixed open Friday after the S&P 500 and Nasdaq Composite posted a sixth-straight day of gains and investors in the region look to the Bank of Japan's rate decision. In Australia, futures for the S&P/ASX 200 were at 7,167, slightly lower than the index's last close of 7,175. Hong Kong's Hang Seng index is set to extend its rally after gaining over 2% on Thursday, with futures at 19,951 compared with the HSI's close of 19,828.92.

Persons: Kazuo Ueda, Ueda, Noriaki Sasaki Organizations: Bank of Japan, Yomiuri Shimbun, Bloomberg, Getty Images, Nasdaq, Bank of, Bank of America, Nikkei Locations: Tokyo, Japan, Getty Images Asia, Pacific, Chicago, Osaka, Australia

Asia-Pacific markets are set to rise after the U.S. Federal Reserve held off on a rate hike while projecting that another two quarter percentage point moves are on the way before the end of the year. The latest decision left the Fed's key borrowing rate in a target range of 5%-5.25%.The central bank forecast it will raise interest rates as high as 5.6% before 2023 is over. In Asia, New Zealand fell into a technical recession after its first quarter gross domestic product fell 0.1% year on year, after reporting a revised 0.7% decline in the final quarter of 2022. Japan's May trade balance will be released later today as the Bank of Japan kicks off its two-day monetary policy meeting. China will release a slew of economic data, including industrial output, retail sales and house prices for May.

Persons: Hong Organizations: U.S . Federal Reserve, Nikkei, Bank of Japan Locations: Asia, Pacific, New Zealand, Japan, Chicago, Osaka, China

The benchmark Stoxx 600 index was 0.23% higher at 8:30 a.m. in London, with sectors spread between gains and losses. European markets were mixed at Wednesday's open as investors looked ahead to the latest monetary policy decision from the U.S. Federal Reserve. The consumer price index in May increased 4.0% year over year, marking the slowest annual rate since March 2021. Following the report, traders increased their bets that the Fed will keep rates unchanged on Wednesday after hiking at 10 consecutive meetings. Asia-Pacific markets were mixed overnight and S&P 500 futures traded near flat.

Persons: There's Organizations: U.S . Federal, Global, Federal Reserve Locations: London, Asia, Pacific

This gives room for the Federal Reserve to pause and skip a rate hike when they meet later this week. In Japan, the Nikkei 225 popped 1.05% on its open, inching closer to the Nikkei's all time high is just under 39,000 points in December 1989. In Australia, the S&P/ASX 200 climbed 0.32%, while South Korea's Kospi slipped 0.22% and the Kosdaq traded close to the flatline. South Korea's unemployment rate came in at 2.5% for May, falling for the second straight month and lower than the 2.6% recorded in April. Hong Kong's Hang Seng index is also set for a strong open, with futures at 19,535 compared to the HSI's close of 19,521.42.

Persons: Ed JONES, ED JONES, Kospi, Hong Organizations: Getty Images, Federal Reserve, Nikkei Locations: Seoul, AFP, Asia, Pacific, U.S, Japan, Australia, South

Asia-Pacific markets are set to largely rise on Tuesday ahead of the U.S. inflation report and Federal Reserve's two-day meeting later in the day – the central bank is widely expected to hold rates for the first time in 15 months while inflation's annual outlook marked a two-year low in the latest New York Fed survey. Japan's Nikkei 225 is set to reach new 2023-highs – its futures contract in Chicago is at 32,795, and its counterpart in Osaka at 32,644 against its last close at 32,434. Australian markets come back from a public holiday with futures for the S&P/ASX 200 at 7,123, just slightly higher than the index's last close of 7,122. However, Hong Kong's Hang Seng index is set to snap a four day winning streak, with futures at 19,358 compared to the HSI's close of 19,404.31.

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

☆ Europe stocks higher ahead of central bank meets; UBS up 1% after completing Credit Suisse takeover
▼ + stars: | 2023-06-12 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

European markets were higher Monday morning as investors prepare for a week of key central bank meetings in the United States, Asia and Europe. Switzerland's UBS moved higher after announcing it had completed the takeover of its embattled former rival Credit Suisse, which will cease trading. Under the deal terms, Credit Suisse shareholders receive one UBS share for every 22.48 outstanding shares held. Shares of the bank extended gains to 1% after it said it expected that Credit Suisse operating losses and "significant" restructuring charges would be offset by reductions in risk-weighted assets. The U.S. Federal Reserve will announce its latest monetary policy move Wednesday, while the European Central Bank will follow with its decision on Thursday.

Persons: Sergio Ermotti Organizations: Switzerland's UBS, Credit Suisse, UBS, U.S . Federal, European Central Bank, Japan's Locations: London, United States, Asia, Europe, Pacific

A vegetables stall in the Haizhu area of Guangzhou, China, on Tuesday, May 9, 2023. China's consumer inflation slowed to the weakest pace in two years in April while producer prices fell deeper into deflation, reflecting muted domestic demand and softer commodity costs. Source: BloombergAsia-Pacific markets are set to rise after the S&P 500 hit a new high for 2023 and the Dow Jones Industrial Average saw a third straight day of gains. Asia investors will be watching for China's consumer price index for May, after the country saw its inflation rate sink to just 0.1% in April, it lowest point since November 2020. Producer prices, meanwhile, are expected to fall by 4.3% in May, according to a Reuters survey, which would mark the lowest since mid-2016.

Organizations: Bloomberg, Dow Jones Locations: Haizhu, Guangzhou, China, Bloomberg Asia, Pacific, U.S . Federal, Asia

Cranes unload shipping containers from a vessel at the Port of Fremantle in Perth, Australia, on Monday, Aug. 26, 2013. Asia-Pacific markets are set to fall as Wall Street saw a pause in its market rally and the broad market index fluctuated near its highest closing levels since August 2022. China's exports fell further than than expected and Australia's central bank defied market expectations by delivering a 25 basis-point hike. South Korea's Kospi inched down 0.23% in early trade, while the Kosdaq saw a larger loss at 0.43%. Hong Kong's Hang Seng index is also set to fall after a brief rally on Wednesday, with futures at 19,116 compared to the HSI's close of 19,252.

Organizations: Port, Nikkei, Reuters, Bank of Locations: Fremantle, Perth, Australia, Asia, Pacific, Japan, Bank of India

☆ European stocks marginally lower as global markets look for direction
▼ + stars: | 2023-06-08 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

European stocks were marginally lower Thursday as global markets appeared hesitant and lacking in direction. The pan-European Stoxx 600 index was down 0.1% in morning trading, with most sectors trading in negative territory. Tech stocks led losses with a 1.3% downturn, followed by telecom, which was down 1.1%. Markets seem to be in a holding pattern while awaiting the Federal Reserve's policy meeting on June 13 and 14. Markets are pricing about a 66% chance that the Fed keeps rates steady at the next meeting, according to the CME FedWatch Tool.

Organizations: Tech, Fed Locations: Asia, Pacific

Cargo ships stop at their berths to load and unload containers at the container terminal in Lianyungang Port, East China's Jiangsu province, June 5, 2023. In Australia, the S&P/ASX 200 rose 0.25%, ahead of Australia's first quarter GDP numbers. The country's economy is expected to expand 2.4% year-on-year, slightly slower than the 2.7% recorded in the fourth quarter of 2022. Japan stocks were higher, with the Nikkei 225 inching closer to the 33,000 level and rising 0.47%. South Korea's markets came back from a public holiday with a positive start, with the Kospi climbing 0.28% and the Kosdaq up by 0.6%.

Persons: Philip Lowe Organizations: Reserve Bank of Australia, Nikkei Locations: Lianyungang Port, East China's Jiangsu, Asia, Pacific, Australia, Australia's, Japan, South

☆ European markets open mixed as sentiment slumps
▼ + stars: | 2023-06-07 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

The pan-European Stoxx index was up 0.1% at market open before quickly dropping into negative territory, with sectors a mix of minor gains and losses. Banking stocks had a marginal uptick of 0.5%, followed by retail, which was up 0.4%. Health-care stocks, chemicals and telecom each dropped 0.4%. Asia-Pacific markets traded mixed overnight as China's trade data missed forecasts, with exports tumbling 7.5% year on year, sharply lower than the 0.4% fall expected, while imports saw a smaller fall of 4.5% year on year, lower than the 8% that was forecast. U.S. stock futures were flat in overnight trading after the S&P 500 notched its highest closing level of 2023.

Organizations: Banking Locations: Asia, Pacific

☆ European stocks open mixed amid downbeat market sentiment
▼ + stars: | 2023-06-06 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

The pan-European Stoxx 600 index was 0.1% higher around market open. Major bourses and sectors traded across positive and negative territory, with minor gains led by a 0.7% uptick in mining stocks. Tech stocks made the biggest losses with a 0.7% drop. European Central Bank President Christine Lagarde said Monday there were "signs of moderation" in core inflation in the euro zone, but emphasized that it was too early to call a peak. The latest data showed inflation easing more than expected for May to 6.1%, but that figure remains well above the 2% target.

Persons: bourses, Christine Lagarde Organizations: Tech, European Central Bank Locations: Asia, Pacific

A pedestrian and jogger pass the Reserve Bank of Australia (RBA) building, during a partial lockdown imposed due to the coronavirus, in Sydney, Australia, on Monday, May 18, 2020. Markets are "catching their breath after Friday's broad-based rally," said Ryan Detrick, chief market strategist at the Carson Group. "It's a very lackluster news day, which isn't a bad thing as we consolidate some of those big recent gains we've had." Australia's S&P/ASX 200 opened 0.35% down ahead of the country's central bank rate decision. The Reserve Bank of Australia is expected to hold rates at 3.85%, according to a Reuters poll.

Persons: Ryan Detrick, we've Organizations: Reserve Bank of Australia, Carson Group, Nikkei Locations: Sydney, Australia, Asia, Pacific, Japan, South

Asia-Pacific markets are set to rise after U.S. President Joe Biden signed into law a debt ceiling bill that allowed the U.S. to avert defaulting on its financial obligations over the weekend. The compromise debt ceiling bill passed the Senate by a 63-36 margin Thursday evening, winning enough support from both parties to overcome the chamber's 60-vote threshold to avoid a filibuster. The next level to watch for investors will be the 32,644 mark which would breach its highest since July 1990. Oil futures also surged as the Organization of the Petroleum Exporting Countries (OPEC) kingpin Saudi Arabia's decision to cut oil production by another million barrels per day. Prices of Brent crude were 2.35% up at 77.94, while West Texas Intermediates was up 2.43% at 72.48.

Persons: Joe Biden, Brent Organizations: Nikkei, of, Petroleum, Saudi Locations: Asia, Pacific, Japan, Chicago, Osaka, West Texas

The Reserve Bank of Australia delivers its latest interest rate decision on Tuesday, undoubtedly the centerpiece event for Asian and Pacific markets but potentially of interest to U.S. Fed watchers too. Interest rate futures markets currently attach a 66% chance the RBA pauses, and a one-in-three chance it raises the cash rate by a quarter point to 4.10%. Holders of Australian assets will be pay particularly close attention to policymakers' statement and RBA governor Philip Lowe's press conference after the decision for guidance. Here are three key developments that could provide more direction to markets on Tuesday:- Australia interest rate decision- Australia current account (Q1)- Japan household spending (April)By Jamie McGeever;Our 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: Jamie McGeever, Philip Lowe's Organizations: Reserve Bank of Australia, Fed, Reserve, Australian, Apple, Thomson, Reuters Locations: U.S, Australia, Japan

☆ European markets open muted; oil and gas up 1% on output cut news
▼ + stars: | 2023-06-05 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

In Europe, traders are still analyzing the impact of Thursday's inflation data, which showed euro zone inflation falling to its lowest level since February 2022. European markets opened muted after ending on a high on Friday, as traders digest the U.S. debt ceiling agreement and euro zone inflation data. Oil and gas stocks led gains with a 1.1% uptick after Saudi Arabia announced voluntary cuts to its output Sunday, starting in July. In Europe, traders are still analyzing the impact of Thursday's inflation data, which showed euro zone inflation falling to its lowest level since February 2022. Asia-Pacific markets were largely higher on the U.S. debt ceiling news, while U.S. equity futures were little changed Sunday evening.

Persons: Christine Lagarde Organizations: European Central Bank Locations: Europe, Saudi Arabia, OPEC, Asia, Pacific

People are reflected in an electronic quotation board displaying the 225-issue Nikkei Stock Average (top) as they cross a street in Tokyo on May 17, 2023. (Photo by Kazuhiro NOGI / AFP) (Photo by KAZUHIRO NOGI/AFP via Getty Images)Asia-Pacific markets were mostly higher on Thursday ahead of a final vote on the bill to raise the U.S. debt ceiling after it passed a key procedural hurdle in the House overnight. Private surveys for factory activity data for China, Japan, South Korea as well as several Asean countries will be released later today. In Japan, the Nikkei 225 saw a 0.18% gain after it retreated from the 31,000 mark on Wednesday, with the Topix also up by 0.22%. HSI futures stood at the lowest the index has been since Nov 28, 2022.

Persons: Kazuhiro NOGI, KAZUHIRO NOGI, Australia's Organizations: Nikkei, Getty Images, Asean Locations: Tokyo, AFP, Asia, Pacific, China, Japan, South Korea

Asia-Pacific markets are set to fall as Wall Street considered the likelihood of Congress passing a tentative deal on raising the U.S. debt ceiling amid growing opposition within the GOP on the tentative deal that House Speaker Kevin McCarthy and U.S. President Joe Biden agreed over the weekend. Australia will publish its seasonally adjusted April inflation figures, and a rate decision from Thailand's central bank, among others. In Australia, futures for the S&P/ASX 200 were at 7,187, lower than the index's last close of 7,209.3, ahead of its unemployment figures for April. Economists polled by Reuters expect the country's weighted inflation rate in April to slow slightly to 6.4%. Hong Kong's Hang Seng index is set to fall further despite a late rally in Tuesday session, with futures at 18,260 compared to the HSI's close of 18,595.78.

Persons: Kevin McCarthy, Joe Biden Organizations: GOP, Nikkei, Reuters Locations: Asia, Pacific, Australia, Thailand's, Japan, Chicago, Osaka, 31,328.160

SYDNEY, AUSTRALIA - A person jogging passes the Sydney Opera House as the rising sun reflects off buildings in the central business district (CBD) on September 28, 2021 in Sydney, Australia. The U.S. Congress is set to vote on the legislation as early as Wednesday. Lawmakers have not signaled that they intended to return to Capitol Hill early to work on the deal. In Australia, futures for the S&P/ASX 200 were at 7,224, higher than the index's last close of 7,217.4. Hong Kong stocks meanwhile are set to touch new lows for the year, with Hang Seng index futures at 18,522, headed to mark a fifth straight session of losses.

U.S. President Joe Biden hosts debt limit talks with House Speaker Kevin McCarthy (R-CA) in the Oval Office at the White House in Washington, U.S., May 22, 2023. Asia-Pacific markets are largely set to rise ahead after U.S President Joe Biden and congressional leaders reached a tentative deal to raise the debt ceiling over the weekend. The Nikkei previously reached 33-year highs last week, marking an intra-day high of 31,331.62 on May 23. In Australia, futures for the S&P/ASX 200 were at 7,245, higher than the index's last close of 7,154.8. Stocks in Hong Kong are set to buck the trend despite the overall optimism, with Hang Seng index futures at 18,536 compared to the HSI's close of 18,746.92.

☆ Europe markets open higher after U.S. debt ceiling deal
▼ + stars: | 2023-05-29 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Sectors were all cautiously higher or flat, with autos and banks leading gains. European stock markets opened higher Monday after U.S. President Joe Biden and House Speaker Kevin McCarthy reached a deal to raise the nation's debt ceiling. U.S. political leaders must now gather enough bipartisan support to pass the debt ceiling bill in Congress before the June 5 deadline to avoid a federal default. Asia-Pacific markets were mixed even as Japan's Nikkei 225 climbed to trade at the highest levels since July 1990. Elsewhere, the Turkish lira slumped to a near-record low after incumbent President Recep Tayyip Erdogan secured reelection.

A pedestrian looks at an electronic quotation board showing numbers of the Nikkei 225 index in Tokyo on September 11, 2020. Asia-Pacific markets are mixed after Wall Street saw a tech rally led by Nvidia, and U.S. negotiators moved closer to a debt ceiling deal with just a week to go before the government faces a potential default. In Japan, the Nikkei 225 rose 0.31% to end the day at 30,916 after surpassing the 31,000 mark earlier in the day. South Korea's Kospi rose 0.16% to end at 2,558.81, reversing losses from Thursday , while the Kosdaq was down 0.53% and finished at 843.23. In Australia, the S&P/ASX 200 closed 0.23% at 7.154.8 after reversing earlier losses and snapping a four day losing streak.

Organizations: Nikkei, Nvidia, U.S, Shanghai, Shenzhen Component Locations: Tokyo, Asia, Pacific, Japan, Australia, Shenzhen, 10.909.65

(Photo by Ed JONES / AFP)Hong Kong's Hang Seng index led losses in Asia on Thursday, falling about 2% to close at 18,746.92 — the lowest level this year. Mainland Chinese markets also fell, with the Shanghai Composite down 0.11% to finish at 3,201.26, its lowest close in over four months. The Shenzhen Component closed 0.22% lower at 10,896.48 in its third straight day of losses. Australia's S&P/ASX 200 declined 1.07% to end at 7,136.9 and record its fourth straight day of losses. The index also hit its lowest level in about two months.

Persons: Ed JONES, Hong, Australia's Organizations: Lotte, Shenzhen Component, Bank of Korea, Nikkei Locations: Seoul, AFP, Asia, Shanghai, Pacific, Japan

Search resuls for: "Pacific Market"

25 mentions found