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☆ Sanofi CEO under pressure to woo investors after spending shock
▼ + stars: | 2023-12-05 | by ( Ludwig Burger | ) www.reuters.com time to read: +5 min

[1/2] Paul Hudson, chief executive officer of Sanofi, speaks during the annual results news conference at the company's headquarters in Paris, France, February 4, 2022. The market's shock reaction, compounded by a lack of details of the spending push, overshadowed Sanofi's plan to list its consumer unit, in line with an industry trend. David Song, a portfolio manager and investment partner at Tema ETF, said: "The narrative of Sanofi has been a margin expansion, earnings-driven story for a lot of investors." "Shouldn't investors give credit to managements who care about long-term shareholder value creation?," said Song. ($1 = 0.9206 euros)Reporting by Ludwig Burger; Editing by Josephine Mason and Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

Persons: Paul Hudson, Sanofi, Benoit Tessier, Hudson, Dan Lyons, Janus Henderson, Markus Manns, David Song, Fabian Wenner, Julius Baer, Union's Manns, Janus Henderson's Lyons, Johnson, Song, Ludwig Burger, Josephine Mason, Emelia Organizations: REUTERS, Reuters, Janus Henderson Investors, Germany's Union Investment, Tema, Thomson Locations: Paris, France, British, Hudson, Denver, Swiss, Tema

☆ The pivot for 2024 will be the consumer, says Janus Henderson's Ali Dibadj
▼ + stars: | 2023-12-01 | 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 EmailThe pivot for 2024 will be the consumer, says Janus Henderson's Ali DibadjAli Dibadj, Janus Henderson Investors CEO, joins 'Closing Bell' to discuss the fixed income sector and market outlook.

Persons: Janus Henderson's Ali Dibadj Ali Dibadj, Janus Henderson

☆ People shouldn't reach for yield right now, says Janus Henderson's John Kerschner
▼ + stars: | 2023-11-28 | 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 EmailPeople shouldn't reach for yield right now, says Janus Henderson's John KerschnerJohn Kerschner, head of U.S. securitized products and portfolio manager at Janus Henderson, joins 'The Exchange' to discuss the warning in private credit, investing in securitized assets, and more.

Persons: Janus Henderson's John Kerschner John Kerschner, Janus Henderson

☆ London stocks fall as investors await more data; Rolls-Royce shines
▼ + stars: | 2023-11-28 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

A street cleaning operative walks past the London Stock Exchange Group building in the City of London financial district, whilst British stocks tumble as investors fear that the coronavirus outbreak could stall the global economy, in London, Britain, March 9, 2020. The exporter-heavy FTSE 100 (.FTSE) fell 0.6% touching a two-week low intraday, while the more domestically-oriented FTSE 250 midcap index (.FTMC) also shed 0.6%. Personal goods (.FTNMX402040) led declines among the major FTSE 350 sectors, with Burberry Group (BRBY.L) falling 2.7% after HSBC reduced the stock's price target. Investors will look ahead to UK mortgage data, inflation prints across the eurozone, and a Personal Consumption Expenditures (PCE) report in the U.S. - the Federal Reserve's preferred inflation gauge - later this week. Man Group (EMG.L) fell 3.2% after Morgan Stanley downgraded the hedge fund manager's stock to "Equal-Weight" from "Overweight".

Persons: Toby Melville, inflation's, Andrew Jones, Janus Henderson, Dave Ramsden, Jonathan Haskel, Pearson, Morgan Stanley, Shashwat Chauhan, Sonia Cheema Organizations: London Stock Exchange Group, REUTERS, Royce, Burberry Group, HSBC, PT Pearson, Man, Janus Henderson Investors, Bank of England's, Thomson Locations: City, London, Britain, U.S, Bengaluru

Japanese national flag is hoisted atop the headquarters of Bank of Japan in Tokyo, Japan September 20, 2023. If the BOJ pulls interest rates above zero for the first time in years, banks' lending margins could rise. Steve Donzé, deputy head of investment at Pictet Asset Management in Tokyo, said he had also been buying Japanese bank stocks. BOND PAINJapanese inflation means bond investors could suffer. But investors are cautious about this so-called yield curve control policy ending as the BOJ is forced to tighten monetary policy.

Persons: Issei Kato, Shigeka Koda, Koda, Steve Donzé, Junichi Inoue, Janus Henderson, James Halse, Warren Buffett, David Hogarty, Jon Day, Grégoire Pesques, Amundi, Pictet's Donzé, Naomi Rovnick, Kevin Buckland, Dhara Ranasinghe, Jane Merriman Organizations: Bank of Japan, REUTERS, LONDON, Asia Investment, Kosaido Holdings, Kyushu Financial, Pictet, Management, Platinum Asset Management, Global, Bank of America, Tokyo Stock Exchange, Dublin, Newton Investment Management, Thomson Locations: Tokyo, Japan, TOKYO, Singapore, Sydney, United States, Europe, London

☆ Global dividends slide in Q3 as miners drag
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +2 min

MILAN, Nov 15 (Reuters) - Global dividends fell 0.9% to $421.9 billion in the third quarter due to lower special dividends and a small number of corporations making large cuts to investor remuneration, a report showed on Wednesday. Janus said total dividends were slightly better than expected in the quarter despite lower one-off special payouts and exchange rate effects. "Special dividends have decreased, reflecting less M&A activity and the disappearance of windfall profits in sectors like mining," he added. The largest cuts to payouts were made by Brazilian oil group Petrobras (PETR4.SA) and Australian miner BHP (BHP.AX). More than half of mining companies reduced their payouts while 89% of companies overall raised their dividends or held them during the period, the report said.

Persons: Janus Henderson, Janus, Ben Lofthouse, Banks, Danilo Masoni, Elaine Hardcastle Organizations: MILAN, Petrobras, PETR4, BHP, Chemicals, China Construction Bank Corp, China Mobile, HK, Thomson Locations: Brazil, Taiwan, Czech, Asia, PetroChina, Europe

☆ Investors should stay in the markets but err on the side of defensiveness, says Adam Hetts
▼ + stars: | 2023-11-13 | 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 EmailInvestors should stay in the markets but err on the side of defensiveness, says Adam HettsAdam Hetts, Janus Henderson global head of multi-asset, joins 'Closing Bell Overtime' to talk his investing playbook, anticipated softening in the economy and more.

Persons: Adam Hetts Adam Hetts, Janus Henderson Locations: defensiveness

☆ Adidas sees Samba shoes driving more interest from retailers
▼ + stars: | 2023-11-08 | by ( Helen Reid | Thomson Reuters | London-Based Reporter Covering The European Retail Sector Through A Global Lens. Focusing On Companies Including Adidas | ) www.reuters.com time to read: +3 min

Inventory levels were down 23% year-on-year at 4.85 billion euros ($5.18 billion), a little more than expected, Adidas said. Adidas' gross margin for the quarter was up 0.2 percentage points at 49.3%, helped by reduced freight costs and fewer discounts. "Adidas' competitive position compared to Nike is improving," said Robert Schramm-Fuchs, portfolio manager at Janus Henderson, which holds Adidas shares. "Adidas needs to earn back the shelf space, but I think they have the right product to do it," he said. Adidas' sales in Greater China grew by 5.7% in currency-adjusted terms, a slowdown after growth of 16.4% in the second quarter.

Persons: Tingshu Wang, Bjorn Gulden, Kanye West, Ye, Spezial, Gulden, Robert Schramm, Fuchs, Janus Henderson, Schramm, Adam Cochrane, Miranda Murray, Helen Reid, Maria Sheahan, Sherry Jacob, Phillips, Catherine Evans Organizations: Adidas, REUTERS, Apparel, Nike, Deutsche Bank . Currency, Reuters Graphics, Thomson Locations: Beijing, China, United States, North America, Greater China, Berlin

☆ Wall St Week Ahead Stock investors see green light in falling Treasury yields
▼ + stars: | 2023-11-03 | by ( David Randall | ) www.reuters.com time to read: +4 min

The relationship between stocks and bonds has been a tight one in recent months, with equities falling as Treasury yields climbed to 16-year highs. Higher yields offer investment competition to stocks while also raising the cost of capital for companies and households. Meanwhile, the S&P 500 has surged nearly 6% from its October lows. Draho expects the S&P 500 to trade between 4,200 and 4,600 until investors determine whether the economy will be able to avoid a recession. The S&P 500 was recently up more than 1% on the day.

Persons: Brendan McDermid, Jason Draho, Draho, Ryan Detrick, Greg Wilensky, Janus Henderson, David Randall, Ira Iosebashvili, Louise Heavens Organizations: New York Stock Exchange, REUTERS, Federal Reserve, Treasury, UBS Global Wealth Management, National Association of Active Investment, CFRA Research, Carson Investment Research, Fed, Apple Inc, Janus, Janus Henderson Investors, Thomson Locations: New York City, U.S, Treasuries

Plenty of bond investors have been burned calling a bottom in a selloff that has taken Treasuries to the cusp of an unprecedented third straight year of losses. One potential near-term pitfall is Friday’s U.S. payrolls data, which could revive expectations of Fed hawkishness if they come in stronger than expected. The rise in Treasury yields has reached far beyond the bond market. The S&P 500 is down nearly 8% from its July high, as rising bond yields offer investment competition to equities while threatening to raise the cost of capital for companies. “The market is running with the idea that the Fed is done hiking, which they may or may not be,” he said.

Persons: Jerome Powell nodded, Bonds, ”, Jack McIntyre, “, ” McIntyre, Stanley Druckenmiller, Duquesne, Bond, Josh Emanuel, Powell, We've, Greg Wilensky, Janus Henderson, ” Wilensky, Noah Wise, Davide Barbuscia, David Randall, Ira Iosebashvili Organizations: Treasury, Federal, Fed, U.S . Treasury, Brandywine, Janus, Janus Henderson Investors, Allspring Global Investments, Thomson Locations: U.S, Wilshire

LONDON/COPENHAGEN, Nov 2 (Reuters) - Global brewers AB InBev (ABI.BR) and Carlsberg (CARLb.CO) this week played down concerns among some investors that demand for weight-loss drugs may lead to a sharp drop in beer drinking. But AB InBev Chief Executive Michel Doukeris likened the concerns to others, such as how cannabis could disrupt various sectors, which he said were often short-lived. Some clinical trials on rodents have found treatment with GLP-1 agonists reduces alcohol consumption, eases symptoms of alcohol withdrawal and more. AB InBev has a big U.S. business, but earns more revenue in the Middle Americas and has a large footprint in countries like Brazil. Such emerging markets often have lower obesity rates, while weight-loss drugs are unlikely to be available or affordable there any time soon.

Persons: Nordisk's Wegovy, Michel Doukeris, Jacob Aarup, Andersen, Moritz Kronenberger, Janus Henderson, Tom O'Hara, O'Hara, Wegovy, Emma Rumney, Jacob Gronholt, Matthew Scuffham, Alexander Smith Organizations: Global, AB InBev, Carlsberg, Nordisk's, InBev, Reuters, Budweiser, World Health Organization, WHO, Germany's Union Investment, Brewers, Pedersen, Thomson Locations: COPENHAGEN, United States, Brazil, Asia, China, Danish, U.S, London, Copenhagen

☆ Here are Thursday's biggest analyst calls: Amazon, Sunrun, Qualcomm, Eli Lilly, SolarEdge, Estée Lauder and more
▼ + stars: | 2023-11-02 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Thursday's biggest calls on Wall Street: Bank of America reiterates Qualcomm as buy Bank of America said it's standing by its buy rating on the stock after its earnings report Wednesday. Citi reiterates Eli Lilly as buy Citi said it sees further upside after the company's earnings report Thursday. RBC downgrades Estée Lauder to sector perform from outperform RBC downgraded the stock after the company's earnings report. Pivotal upgrades Roku to hold from sell Pivotal upgraded the stock after its earnings report Wednesday. " Guggenheim downgrades SolarEdge to neutral from buy The firm said it's "giving up" on its positive stance on the stock.

Persons: RUN's, Taylor Morrison, WK Kellogg, Truist, Amgen, it's, Citi, Eli Lilly, Janus Henderson, underperform KBW, Estée Lauder, F1Q, Bernstein, Hess, CVX, Guggenheim, SolarEdge, Stifel Organizations: Bank of America, Qualcomm, HSBC, Amazon, BMO, Toll, M.D.C . Holdings, JPMorgan, Health, of America, UBS, Eastman Chemical, Citi, Management, RBC, Chevron Locations: Ecommerce, China, U.S

☆ Larry Fink’s next M&A may go in surprise direction
▼ + stars: | 2023-11-01 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +8 min

Reuters GraphicsTIPPING THE SCALESThe shift to low-fee products helped BlackRock’s assets under management swell to more than $9 trillion at the end of September. BlackRock’s history with Blackstone means a reunion with Stephen Schwarzman’s $110 billion firm is a persistent Wall Street rumor. BlackRock’s funds operate under a single name, so uniting with Carlyle (CG.O) or Apollo Global Management (APO.N) would pose a branding challenge. Fink might covet MSCI (MSCI.N), the $38 billion firm which aggregates many of the benchmarks tracked by BlackRock’s ETFs. Given Fink’s long record of pulling off opportunistic and transformational deals, it would be foolish to bet against him springing one last surprise.

Persons: Larry Fink, Fink, Merrill, Rowe Price, Janus Henderson, Blackstone, Stephen Schwarzman’s, Carlyle, covet, MSCI, Michael Bloomberg, doesn’t, LSEG –, Peter Thal Larsen, Thomas Shum, Streisand Neto Organizations: CNBC, New York Stock Exchange, Reuters, BlackRock, Blackstone, Barclays Global Investors, Credit Suisse, UBS, nab, Graphics, Apollo Global Management, London Stock Exchange, Thomson Reuters, New, Bloomberg, Wall Street, New York Times, LSEG – Bloomberg, Thomson Locations: New York City, U.S, BlackRock, Boston, Swiss, New York, United States

☆ Bond fund managers head for third year of losses for first time in decades
▼ + stars: | 2023-10-31 | by ( Harry Robertson | ) www.reuters.com time to read: +4 min

Reuters GraphicsEuropean funds have effectively returned nothing this year after two down years, Morningstar data shows. Government bond funds have fared even worse and are set for three years of losses in both the U.S. and Europe. Bond yields rise as prices fall, and vice versa. Reuters GraphicsBank of America said there were $5.6 billion of inflows to long-dated Treasury funds last week, the largest on record. ICI data shows that U.S. money market funds have ballooned to $5.6 trillion in assets, from $4.6 trillion in October last year.

Persons: Dado Ruvic, Stefano Fiorini, Oliver Blackbourn, Janus Henderson, You've, Jonas Goltermann, Max Kettner, Harry Robertson, Mark Potter Organizations: REUTERS, Reuters Graphics, Morningstar, U.S, Generali Investments Partners, Reserve, Reuters, Treasury, Citi, ICE, Fed, Capital Economics, Investment Company Institute, Reuters Graphics Bank of America, Reuters Graphics Reuters, ICI, HSBC, Thomson Locations: Europe, U.S

REUTERS/Wolfgang Rattay/File Photo Acquire Licensing RightsLONDON, Oct 27 (Reuters) - The steepest jump in interest rates in decades will spark a domino effect on corporate defaults in the years ahead, asset manager Janus Henderson Investors said in a report on Friday. Rising borrowing costs are back in stark focus following a rout in government bonds since September as investors adjust to the prospect of interest rates staying persistently high, which has also raised corporate bond yields. "The credit cycle tends to turn only if three conditions are present: high debt loads, lack of access to capital, and an exogenous shock to cash flow. These conditions ... are all present today," Janus' global head of fixed income Jim Cielinski said. But as inflation starts slowing and higher rates are here to stay, headwinds are mounting, and the risk is that the increase in borrowing costs could outpace revenue growth, it added.

Persons: Wolfgang Rattay, Janus Henderson, Janus, Jim Cielinski, ”, Chiara Elisei, Yoruk Bahceli, Mark Potter Organizations: European Central Bank, European Union, REUTERS, Janus Henderson Investors, P Global Market Intelligence, Thomson Locations: Frankfurt, Germany

☆ This structured credit ETF offers a higher yield than Treasuries and just hit $4 billion in assets
▼ + stars: | 2023-10-18 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

The Janus Henderson AAA CLO ETF (JAAA) , which buys highly rated collateralized loan obligations, has grown rapidly this year and outperformed many popular bond ETFs. The fund has a 30-day SEC yield of 6.66%, putting it above the yield of U.S. Treasuries. JAAA YTD mountain The JAAA ETF has held up this year despite rising interest rates. There are other CLO ETFs on the market, including the BlackRock AAA CLO ETF (CLOA) that launched earlier this year, but JAAA is the largest. Given the size and depth of the AAA CLO market, the fund should have no problems operating until it is about $20 billion in assets, at least, he estimated.

Persons: Janus Henderson, John Kerschner, Kerschner, JAAA Organizations: Janus Henderson AAA CLO, SEC, CLOs, Treasury, Treasury Bond ETF, CNBC, JPMorgan AAA CLO, BlackRock AAA, AAA Locations: JAAA

☆ Peltz's Trian up 3% this year even as Disney bet soured
▼ + stars: | 2023-10-10 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +1 min

NEW YORK, Oct 10 (Reuters) - Nelson Peltz's Trian Fund Management returned nearly 3% in the first nine months of the year, investors said on Tuesday, as his bet on Walt Disney Co (DIS.N) contributed to the activist hedge fund lagging its peers' returns. Disney's stock price has tumbled roughly 30% since February, when Peltz ended a battle for a board seat but kept Trian invested in the stock. Some blue-chip activist investors, including Bill Ackman's Pershing Square Capital Management and Jeff Smith's Starboard Value, are posting better numbers. The average activist investor gained nearly 7% through the end of September, according to Hedge Fund Research data. At the end of June, the average activist investor was up 11.5% while Trian was up roughly 6%, HFR data and investors said.

Persons: Nelson, Peltz, Trian, Janus Henderson, Trian's, Bill Ackman's, Jeff Smith's, Svea Herbst, Bayliss, Nick Zieminski Organizations: Fund Management, Walt Disney Co, Disney, Reuters, Janus Henderson Group, Ferguson, Bill Ackman's Pershing, Capital Management, Pershing, Fund Research, Svea, Thomson Locations: Boston

☆ It will feel like a recession for the consumer, says Macquarie Group’s Thierry Wizman
▼ + stars: | 2023-10-10 | 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 will feel like a recession for the consumer, says Macquarie Group’s Thierry WizmanJanus’ Matt Person and Macquarie Group’s Thierry Wizman, joins 'Closing Bell: Overtime' to discuss the macro trends in U.S. markets.

Persons: Macquarie, Thierry Wizman Janus ’ Matt Person, Thierry Wizman

While most traders are waiting on the sidelines, anxious about the election and unsure of libertarian frontrunner Javier Milei, some daring bond investors are moving in. "There has been a lot of pain from being invested in Argentina over the past decade," Reed said. Rob Citrone, founder of U.S.-based hedge fund Discovery Capital Management, said Argentina presented one of the best opportunities in emerging markets. The depressed values offer another reason to be bullish on Argentina's debt, said Thomas Haugaard, a portfolio manager on the emerging markets debt hard currency team at Janus Henderson Investments in Copenhagen. Armando Armenta, an analyst for Latin American fixed-income and currency markets at AllianceBernstein in New York, said it was a mixed picture.

Persons: Javier Milei, Cristina Sille, Milei, Patricia Bullrich, Sergio Massa, Christine Reed, Reed, Bullrich, Mauricio Macri's, Massa, Rob Citrone, Cristina Fernandez de Kirchner, Fernandez de Kirchner, Thomas Haugaard, Janus Henderson, Haugaard, Morgan Stanley, Armando Armenta, Milei's, Rodrigo Campos, Carolina Mandl, Adam Jourdan, Paul Simao Organizations: Argentine, REUTERS, Peronist, International Monetary Fund, U.S, Discovery Capital Management, Reuters Graphics Reuters, BancTrust, Reuters, Janus, Janus Henderson Investments, Thomson Locations: Buenos Aires, Argentina, New York, Ghana, Sri Lanka, Copenhagen, Congress, AllianceBernstein

☆ We retain some exposure to Chinese tech stocks: Portfolio Manager
▼ + stars: | 2023-10-03 | 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 EmailBifurcation is nothing new when it comes to China's tech sector, but we retain exposure thereRichard Clode of Janus Henderson Investors says he remains invested in China's tech stocks due to the valuation and innovation there. He shares the approach to the sector amid rising geopolitical risks.

Persons: Richard Clode, Janus Henderson Organizations: Janus Henderson Investors

☆ Investors like the high dividends and buybacks energy companies offer, but debt is starting to rise again
▼ + stars: | 2023-10-03 | by ( Brian Evans | ) www.cnbc.com time to read: +10 min

If oil prices stay high — and especially, if they breach $100 a barrel — the companies are well positioned. However, should oil prices fall and debt levels continue to rise, some companies have boxed themselves into a corner with very generous dividends and share repurchase programs. At the same time, operating cash flow has been declining. "What we're looking at is companies trying to bridge a little gap while operating cash flow is going down," said Mark Young, senior analyst at Evaluate Energy. "Since the end of 2020, operating cash flow has been able to cover all capital spending, dividend payments and share buybacks by itself.

Persons: Mark Young, Young, Conoco Phillips, Noah Barrett, Warren, Barrett, We're, Matt Smith, Smith, Jason Mountford, Brent, Goldman Sachs, Mike Wirth, Mountford, unprofitably, there's, that's Organizations: Energy, CNBC, Civitas Resources, Chevron, Exxon Mobil, Janus, Federal, Warren Pies, 3Fourteen Research, Investors, Conocophillips, Devon Energy, Exxon, Organization of Petroleum, Kplgr, Bank of America, Citigroup Locations: U.S, Wall, Saudi Arabia, Russia, Chevron

☆ Will weight loss drugs lead to less food consumption? Here's what Walmart is saying
▼ + stars: | 2023-09-27 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +5 min

While there has been a huge gain, it is barely scratching the surface of the potential market. Some potential patients don't have coverage of the pricey medicines through their health insurance plans yet. (For example, those seeking to use GLP-1 drugs for obesity can't receive coverage if they are insured by Medicare as the federal health plan is not allowed to cover weight loss drugs.) Walmart told Bank of America that fiscal second-quarter sales benefited roughly 1% from GLP-1 drug sales volumes. Its stock has fallen 45% year to date on fears that these drugs will shrink the company's market potential.

Persons: John Rainey, Eli Lilly's Mounjaro, Eli Lilly, Morgan Stanley, Wells, Larry Biegelsen, Biegelsen, Daniel Lyons, Janus Henderson, Lyons, — CNBC's Michael Bloom Organizations: Wall Street, Nordisk's Wegovy, Bank of, Walmart, Health, Novo Nordisk, Medicare, Drug, Bank of America, Janus, Janus Henderson Investors, CNBC Locations: U.S, GLP

Investors at six large asset managers - Pictet, BNP Paribas Asset Management, Janus Henderson, J.P. Morgan Asset Management, Invesco and RBC - told Reuters they have neither reduced nor added to their China weighting following recent measures to support the economy. "While the overall picture is grim, bearishness around Chinese equities may have reached a local peak and we therefore are refraining from cutting our exposure," said Dong Chen, head of Asia macroeconomic research at Pictet Wealth Management. SEEKING ALTERNATIVESOthers have meanwhile sought out opportunities in markets outside of China, but that trend is showing signs of ebbing. "With attitudes towards China currently so weak, equities valuations could be quite sensitive to signs that corporate fundamentals are starting to improve." ($1 = 7.2910 Chinese yuan renminbi)Reporting by Summer Zhen in Hong Kong and Rae Wee in Singapore; Editing by Tom Westbrook and Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Janus Henderson, J.P, Dong Chen, Chi Lo, haven't, Alex Redman, teetering, Jasmine Duan, Patrick Garvin, Summer Zhen, Rae Wee, Tom Westbrook Organizations: BNP, Asset Management, Morgan Asset Management, Invesco, RBC, Reuters, Pictet Wealth Management, HK, RBC Investment Services, Thomson Locations: China, HONG KONG, SINGAPORE, Asia, Shanghai, Pacific, India, Indonesia, Beijing, Hong Kong, Singapore

An electronic board shows Shanghai and Shenzhen stock indexes, at the Lujiazui financial district in Shanghai, China October 25, 2022. "While the overall picture is grim, bearishness around Chinese equities may have reached a local peak and we therefore are refraining from cutting our exposure," said Dong Chen, head of Asia macroeconomic research at Pictet Wealth Management. SEEKING ALTERNATIVESOthers have meanwhile sought out opportunities in markets outside of China, but that trend is showing signs of ebbing. "With attitudes towards China currently so weak, equities valuations could be quite sensitive to signs that corporate fundamentals are starting to improve." ($1 = 7.2910 Chinese yuan renminbi)Reporting by Summer Zhen in Hong Kong and Rae Wee in Singapore; Editing by Tom Westbrook and Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, Janus Henderson, J.P, Dong Chen, Chi Lo, haven't, Alex Redman, teetering, Jasmine Duan, Patrick Garvin, Summer Zhen, Rae Wee, Tom Westbrook Organizations: REUTERS, BNP, Asset Management, Morgan Asset Management, Invesco, RBC, Reuters, Pictet Wealth Management, HK, RBC Investment Services, Thomson Locations: Shanghai, Shenzhen, China, HONG KONG, SINGAPORE, Asia, Pacific, India, Indonesia, Beijing, Hong Kong, Singapore

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 11, 2023. Energy (.SPNY) was the top S&P 500 sector gainer, up 1.1%, as crude prices firmed near the $95-per-barrel mark on tight supply. Chipmaker Micron Technology (MU.O) rose 1.3%, following Friday's rout, after Deutsche Bank upgraded its stock rating to "buy" from "hold". Declining issues outnumbered advancers by a 1.02-to-1 ratio on the NYSE and by a 1.46-to-1 ratio on the Nasdaq. The S&P index recorded five new 52-week highs and 11 new lows, while the Nasdaq recorded 24 new highs and 172 new lows.

Persons: Brendan McDermid, Bernstein, Piper Sandler, Paul Nolte, Goldman Sachs, Janus Henderson, Wells, MoffettNathanson, Ankika Biswas, Shristi, Savio D'Souza, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Corp, Holdings, Micron, L3Harris, Dow, Nasdaq, Energy, VF, Microsoft, U.S, Treasury, Murphy, Sylvest Wealth Management, Traders, Morgan Asset Management, Janus Henderson Investors, Arm Holdings, Dow Jones, Chipmaker Micron Technology, Deutsche Bank, L3Harris Technologies, PayPal Holdings, NYSE, Thomson Locations: New York City, U.S, Bengaluru

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