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☆ Asia-Pacific markets slip; Australia and Japan inflation readings expected this week
▼ + stars: | 2024-06-24 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Asia-Pacific markets fell on Monday, ahead of inflation data from Australia and Japan later this week. Special attention will be paid to Australia's May consumer price index figures on Wednesday, after Reserve Bank of Australia Governor Michelle Bullock revealed the central bank discussed hiking rates at its last meeting. Should inflation come in higher than expected and spur the RBA to raise rates, it would be the first major Asia-Pacific central bank to do so in an environment where investors are waiting for rate cuts, barring Japan. The RBA has two inflation readings to consider — June 26 and July 31— before its next meeting on Aug. 6.

Persons: Michelle Bullock Organizations: Reserve Bank of Australia Locations: Asia, Pacific, Australia, Japan

☆ CNBC Daily Open: Dow posts best week since May, Tesla cuts 14% of workforce
▼ + stars: | 2024-06-24 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

Traders work on the floor during morning trading at the New York Stock Exchange (NYSE) on March 6, 2024 in New York City. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The tech-centric Nasdaq Composite remained flat, while the Dow Jones Industrial Average had its best week since May, rising 1.45%. Most Asia markets fallMost Asia-Pacific markets were trading lower as investors awaited inflation data from Australia and Japan later this week.

Persons: JPMorgan Chase, Goldman Sachs, Tesla, Elon Musk, Musk, Australia's, Kospi, Seng, Morgan Stanley's Andrew Slimmon Organizations: New York Stock Exchange, CNBC, Nvidia, Microsoft, Apple, Nasdaq, Dow Jones, Citigroup, JPMorgan, Bank of America, Apple Intelligence, Union, Nikkei, Bank of, CSI Locations: New York City, Asia, Pacific, Australia, Japan, Bank of Japan

Photographer: Kentaro Takahashi/Bloomberg via Getty ImagesAsia-Pacific markets were mixed as Japan's May core inflation data came in slightly cooler than expected. The country's core inflation rate — which strips out prices of fresh food — came in at 2.5%. A Reuters poll of economists expected the May core inflation reading to come in at 2.6%, compared to April's 2.2%. The so-called "core-core" inflation, which strips out prices of fresh food and energy, came in at 2.1%. This is lower than April's reading of 2.4%.

Persons: Kentaro Takahashi Organizations: Bloomberg, Getty Images, Bank of Japan Locations: Shibuya, Tokyo, Japan, Getty Images Asia, Pacific

Workers at the construction site of resettlement housing in Huai 'an city, Jiangsu province, China, June 17, 2024. Cfoto | Future Publishing | Getty ImagesAsia-Pacific markets started the day mixed as investors awaited China's one- and five-year loan prime rates. The one-year loan prime rate serves as a benchmark for most corporate and household loans, while the five-year rate serves as a peg for property mortgages. The one-year LPR currently stands at 3.45%, while the five-year LPR is at 3.95%. Japan's Nikkei 225 and the broad-based Topix started the day with losses of 0.28% and 0.12%, respectively.

Persons: Huai, LPR, Korea's Kospi, Topix, Australia's Organizations: Getty, People's Bank of China, Nikkei, Reuters Locations: Jiangsu province, China, Asia, Pacific

☆ Asia-Pacific markets rebound as Wall Street rallies overnight; Australia holds rates
▼ + stars: | 2024-06-18 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

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. David Gray | Bloomberg | Getty ImagesAsia-Pacific markets rebounded on Tuesday as Wall Street rallied overnight, with investors assessing the Reserve Bank of Australia's interest rate decision. The RBA held its benchmark interest rate at 4.35% for its fifth straight meeting, saying that inflation "remains above target and is proving persistent." The RBA also noted that the economic outlook remained "uncertain," with recent data signaling that achieving the inflation target was unlikely to be smooth. Automaker Hyundai also hit a fresh record, gaining about 1.62% on news that it plans to list its India unit in Mumbai.

Persons: David Gray, Kazuo Ueda, Akio Toyoda, Kospi Organizations: Reserve Bank of Australia, Bloomberg, Getty, Wall Street, Bank, Japan's Nikkei, Reuters, Bank of Japan, Toyota, Samsung Electronics, SK Hynix, Hyundai, CSI Locations: Sydney, Australia, Asia, Pacific, Mumbai, Hong

☆ Asia-Pacific markets all slide ahead of key China data
▼ + stars: | 2024-06-17 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

A view of high-rise buildings is seen along the Suzhou Creek in Shanghai, China on July 5, 2023. Asia-Pacific markets are all lower on Monday as the region looks to key economic data out from China. The world's second-largest economy will release May numbers for its retail sales, industrial output and urban unemployment rate. The People's Bank of China is also expected to announce its one-year medium term lending facility rate, with economists polled by Reuters forecasting no change to the current rate of 2.5%.

Organizations: People's Bank of, Reuters Locations: Suzhou, Shanghai, China, Asia, Pacific, People's Bank of China

☆ Asia-Pacific markets range bound ahead of Bank of Japan rate decision
▼ + stars: | 2024-06-14 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

The Bank of Japan (BOJ) headquarters is seen beyond the cherry blossoms in Tokyo on March 20, 2023. Kazuhiro Nogi | Afp | Getty ImagesAsia-Pacific markets were largely range bound on Friday ahead of the Bank of Japan's rate decision. Economists polled by Reuters expect the BOJ will maintain its benchmark interest rate at 0%-0.1%, but Nikkei reported the central bank is considering reducing its holdings of Japanese government bonds. The BOJ currently aims to purchase about 6 trillion yen ($38.5 billion) in bonds per month, and has informed the market of plans to purchase between 4.8 trillion yen and 7 trillion yen of bonds per month. Hong Kong Hang Seng index futures were at 17,964, lower than the HSI's last close of 18,112.63.

Persons: Kazuhiro Nogi, Kospi Organizations: Bank of Japan, Afp, Getty, Bank of, Reuters, Nikkei Locations: Tokyo, Asia, Pacific, Hong Kong

☆ Asia-Pacific markets mixed as traders await China and India inflation data
▼ + stars: | 2024-06-12 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Costfoto | Nurphoto | Getty ImagesAsia-Pacific markets were mixed on Wednesday, ahead of inflation data from both China and India. Traders in Asia will also look toward the U.S. Federal Reserve's decision on Wednesday stateside, which will come hours after the country's May inflation report. China's May inflation rate is expected to increase by 0.4%, slightly higher than the 0.3% seen in April. Separately, India's inflation rate is also forecast to climb marginally to 4.89%, according to a Reuters poll of economists, slightly higher than April's 4.83% increase. Japan's corporate goods inflation rate accelerated to 2.4% in May, beating expectations and marking its fastest rate of increase since August.

Persons: Kospi Organizations: Nurphoto, Getty, Traders, U.S, U.S . Federal, Nikkei Locations: Nanjing, East China's Jiangsu, Asia, Pacific, China, India, U.S ., Hong Kong

☆ European markets head for positive open ahead of Fed decision, U.S. inflation data
▼ + stars: | 2024-06-12 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

Traders work on the floor of the New York Stock Exchange during afternoon trading on June 03, 2024 in New York City. LONDON — European stocks are expected to open higher Wednesday ahead of the latest U.S. Federal Reserve decision and inflation reading. The U.K.'s FTSE index is seen 29 points higher at 8,169, Germany's DAX 36 points higher at 18,408, France's CAC 40 up 13 points at 7,803 and Italy's FTSE MIB up 66 points at 33,946, according to IG. Investors have grown increasingly concerned that the recent strong jobs report and sticky inflation support a higher-for-longer interest rate environment. U.S. stock futures hovered near the flatline Tuesday night, while Asia-Pacific markets were mixed as investors assessed inflation data from around Asia.

Persons: Germany's DAX Organizations: New York Stock Exchange, LONDON, Federal, CAC, IG, U.S Locations: New York City, Asia, Pacific

☆ Asia-Pacific markets are trading mixed as S&P and Nasdaq set fresh records
▼ + stars: | 2024-06-11 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

People watch the first sunrise of the new year from a footbridge overlooking the city skyline in Seoul on January 1, 2024. Asia-Pacific markets opened mixed on Tuesday, even as the S&P 500 and Nasdaq Composite reached new highs on Wall Street overnight. Investors will parse through the Fed's updated projections on the timing and frequency of rate cuts. Markets are now pricing in just one rate cut this year, coming in November, according to the CME FedWatch Tool. Asia-Pacific markets like Australia, Hong Kong, mainland China and Taiwan will return to trade on Tuesday, after being closed for a public holiday the previous day.

Organizations: Nasdaq, Traders, U.S, U.S . Federal Locations: Seoul, Asia, Pacific, U.S ., Australia, Hong Kong, China, Taiwan

☆ Asia markets are mixed ahead of Fed and BOJ decisions this week; Australia and China markets closed
▼ + stars: | 2024-06-10 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Asia-Pacific markets were mixed on Monday after a stronger-than-expected U.S. jobs report on Friday revealed hiring and wage growth picked up in May. This adds to the narrative the Fed doesn't have to rush to lower interest rates. Traders don't expect the Federal Open Market Committee to cut rates at its meeting this week or the next meeting in July. This week in Asia, investors will be looking at Japan's first-quarter gross domestic product numbers on Monday, followed by the Bank of Japan's rate decision on Friday. Separately, China and India's inflation numbers for May will be released on Wednesday.

Organizations: Bank of Japan, Bank of Locations: Tokyo . Asia, Pacific, Asia, China

Indian Prime Minister Narendra Modi gestures as he arrives at Bharatiya Janata Party (BJP) headquarters in New Delhi, India, June 4, 2024. Asia-Pacific markets were mixed as investors assessed India's election results after Prime Minister Narendra Modi's Bharatiya Janata Party fell short of an outright majority in the lower house of parliament. Still, Modi is set for a third term in power after the BJP-led National Democratic Alliance secured 294 seats, more than the 272 needed for the coalition to form the government. Elsewhere, first-quarter gross domestic product figures are expected out of Australia.

Persons: Narendra Modi, Narendra Modi's, Modi Organizations: Indian, Bharatiya Janata Party, BJP, Narendra Modi's Bharatiya Janata Party, National Democratic Alliance Locations: New Delhi, India, Asia, Pacific, Australia

☆ Asia markets open higher on data-heavy day
▼ + stars: | 2024-05-31 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: 1 min

An investor watching share prices at the securities trading floor of Asia Commercial Bank in Hanoi, Vietnam. Asia-Pacific markets opened higher on Friday as investors parsed data from major economies across the region. Japan's industrial output figures showed a surprise 0.1% fall in April from the previous month, smaller than a Reuters poll forecast for a 0.9% rise. Another dataset showed core inflation in Japan's capital Tokyo rose 1.9% in May, in line with Reuters poll expectations. South Korea's industrial production index rose 2.2% month-on-month in April on a seasonally adjusted basis, beating a Reuters poll expectation of a 1.1% rise.

Organizations: Asia Commercial Bank, Reuters Locations: Asia, Hanoi , Vietnam, Pacific, Tokyo, China

☆ Europe stocks set for another lower open as global sentiment sours ahead of inflation data
▼ + stars: | 2024-05-30 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

European stocks are on course for a lower open Thursday, continuing a negative trend this week as global markets come under pressure from rising bond yields. Equity market gloom has been mirrored globally, as expectations that interest rates will be higher for longer have driven up bond yields — generally a harmful move for stocks. First to release will be the euro zone, amid uncertainty over how how many times the European Central Bank will cut interest rates this year beyond its expected first cut at its June meeting next week. That will be followed by the U.S. personal consumption expenditures price index report, the Federal Reserve's preferred inflation gauge. The minutes from the Fed's most recent meeting and recent comments from policymakers have seen money markets fully price in just one rate cut from the world's biggest central bank this year.

Organizations: Equity, European Central Bank, U.S, Federal Locations: Asia, Pacific

Commercial and residential buildings are illuminated at dawn in Seoul, South Korea, on Saturday, Oct. 21, 2023. South Korea has prepared a financial support program of 75.9 trillion won ($56.97 billion) for companies increasing investment in key sectors as well as small businesses struggling with the impact of high interest rates. Asia-Pacific markets extended losses on Thursday, tracking Wall Street's moves ahead of a slew of economic data from the region on Friday. Japan's Nikkei 225 fell more than 2%, while the broader Topix dropped 1.4% in early trading. Japan and South Korea will release industrial production figures on Friday, and China will release the official purchasing managers index for May.

Organizations: Nikkei Locations: Seoul, South Korea, Asia, Pacific, Japan, China, Tokyo

☆ CNBC Daily Open: Dow drops, Nvidia couldn't save Nasdaq
▼ + stars: | 2024-05-30 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Treasury yields weigh on Wall StreetThe S&P 500 snapped its three-day winning streak as Treasury yields climbed. Despite Nvidia's continued rise since its earnings report last week, the tech giant couldn't prevent the Nasdaq Composite from falling. Peltz dumps Disney stakeActivist investor Nelson Peltz has sold his entire stake in Disney, according to a person familiar with the matter.

Persons: Nvidia's, Salesforce, Nelson Peltz, Peltz, Jay Rasulo, Bob Iger, Robert Isom, Vasu Raja, Raja, Korea's Kospi, Hang Seng, CNBC's Brian Evans Organizations: New York Stock Exchange, CNBC, Nasdaq, Dow Jones, Disney, American Airlines, Treasury, Nikkei, China's CSI, Dow Locations: New York City, Disney, Asia, Pacific, Japan, South Korea, China

Reserve Bank of Australia (RBA) at the central bank's building in Sydney, Australia on May 2, 2022. Asia-Pacific markets are mixed on Wednesday as the Nasdaq Composite hit another new record high on Wall Street to surpass 17,000 for the first time, powered by a 7% gain in tech darling Nvidia. Investors will be assessing Australia's inflation numbers for April, with the weighted inflation rate expected to ease to 3.4% from 3.5% in March. Two more, and we may consider adding a rate hike." The Australian S&P/ASX 200 started the day down 0.29%, ahead of the CPI announcement.

Organizations: Bank of Australia, Nasdaq, Nvidia, Investors, ING, [ Reserve Bank of Locations: Sydney, Australia, Asia, Pacific, [ Reserve Bank of Australia

☆ Nasdaq closes at record high, Fed's Kashkari seeks more inflation data for rate cuts, GameStop soars
▼ + stars: | 2024-05-29 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The Dow Jones Industrial Average fell more than 200 points after hawkish comments from Minneapolis Federal Reserve President Neel Kashkari. Fed's Kashkari seeks more inflation dataThe Federal Reserve should wait for significant progress on inflation before cutting interest rates, Kashkari told CNBC on Tuesday. GameStop soarsShares of GameStop jumped more than 20% after the video game retailer announced it raised $933 million from a share offering. [PRO] Riding the AI boomCNBC's Todd Gordon analyzes a cybersecurity company that could benefit from investor enthusiasm for artificial intelligence-related stocks.

Persons: Neel Kashkari, Fed's Kashkari, Kashkari, Vasu Raja, Raja, Korea's, Hang Seng, Todd Gordon Organizations: CNBC, Nasdaq, Nvidia, Dow Jones, Minneapolis Federal, Federal, American Airlines, GameStop, Japan's Nikkei, China's CSI, International Monetary Fund Locations: Minneapolis, Asia, Pacific

☆ CNBC Daily Open: Musk's artificial intelligence start-up raises $6 billion
▼ + stars: | 2024-05-28 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Nvidia's stock rose 2.6% on Friday, contributing to a 15% surge for the week, while the Nasdaq led major indexes with a 1.41% weekly gain. Nvidia CEO's net worth soarsNvidia CEO Jensen Huang's net worth soared to over $90 billion as better-than-expected earnings sent the company's stock soaring to a record high. Last Thursday, the stock rose more than 9% to close at nearly $1,038 per share.

Persons: Elon Musk, The Beverly Hilton, Jensen, Huang, Glass Lewis, Obama, Weizhen Tan Organizations: SpaceX, Tesla, The Beverly, CNBC, Nasdaq, Dow Jones, Treasury, Nvidia, Investors, Google, Nikkei, Bank of Japan's, CSI Locations: Beverly Hills , California, U.S, Texas, Asia, Pacific

The Melbourne skyline is reflected in the Maribyrnong River in the early morning light on April 18, 2023. Asia-Pacific markets were range bound on Tuesday as investors assess comments from the European Central Bank officials signaling that rate cuts may be on the horizon for the world's largest economic bloc. Japan's Nikkei 225 also was trading close to the flatline, with the broad based Topix also near flat. In a speech Monday, Olli Rehn, ECB governing council member and head of Finland's central bank, stressed inflation in the euro area was falling in a "sustained way." Inflation in the euro zone held steady at 2.4% in April, marking the seventh straight month it has been below 3%, despite a slight rebound in December.

Persons: Kospi, Olli Rehn Organizations: European Central Bank, Nikkei Locations: Melbourne, Maribyrnong, Asia, Pacific, Australia

Aerial view of skyscrapers standing at the Lujiazui Financial District at sunrise on June 8, 2022 in Shanghai, China. Asia-Pacific markets rose Monday as industrial profits in China rose during the first four months of the year, according to official data. China's industrial profits rose 4.3% year on year in the January to April period, data from the National Bureau of Statistics showed. More economic data from China and India is also due later this week. Australia will also announce its inflation data for April on Wednesday, with analysts from ING expecting a "modest dip."

Persons: Hong Organizations: National Bureau, Statistics, ING Locations: Shanghai, China, Asia, Pacific, India, Australia

☆ CNBC Daily Open: Dow's worst day in 2024, Nvidia shares pop
▼ + stars: | 2024-05-24 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Dow sinks 600 pointsThe Dow Jones Industrial Average suffered its worst day of the year, dropping over 600 points on Thursday. Nvidia's blockbuster earnings and guidance failed to prop up markets, with more than 400 stocks on the S&P 500 trading lower. Nvidia popsShares of Nvidia soared as much as 11% after the AI chipmaker's earnings that beat Wall Street's estimates. Wall Street analysts are revising their price targets for Nvidia upwards after its blowout earnings and guidance.

Persons: Dow, Musk, Elon Musk, he's, Joe Biden, Tesla, Karen Tso, Brian West, Korea's Kospi Organizations: CNBC, Dow Jones, Boeing, Dow, Nasdaq, Treasury, Nvidia, Nikkei, Bank of Japan, Samsung Electronics, Samsung, CSI, Wall, Microsoft Locations: China, Asia, Pacific, Japan

☆ Asia markets in mixed territory after Fed raises concern over 'persistent' inflation
▼ + stars: | 2024-05-23 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

An inflatable bull during a ceremony marking the first day of trading of the year at the Korea Exchange (KRX) headquarters in Seoul, South Korea, Tuesday, Jan. 2, 2024. SeongJoon Cho/Bloomberg via Getty ImagesAsia-Pacific markets were mixed after minutes from the last U.S. Federal Reserve meeting revealed that Fed officials have grown more concerned about inflation, with members indicating they lacked confidence to move forward on interest rate reductions. In Asia, investors will assess flash business activity data from Australia and Japan, as well as Singapore's final first quarter gross domestic figures. South Korea's central bank will be announcing its policy rate decision today. Analysts polled by Reuters expect the Bank of Korea to hold its benchmark lending rate at 3.5%, although a note from ING last week said the meeting will still be closely watched, "as two new members have joined the [BOK's] board since the last meeting and it will be interesting to see if this has changed the view of the board."

Persons: SeongJoon Cho Organizations: Korea Exchange, Bloomberg, Getty Images, Federal Reserve, Reuters, Bank of, ING Locations: Seoul, South Korea, Getty Images Asia, Pacific, U.S, Asia, Australia, Japan, Korea's, Bank of Korea

☆ Asia-Pacific markets trade mixed as investors parse slew of Japanese data
▼ + stars: | 2024-05-22 | by ( Lee Ying Shan | ) www.cnbc.com time to read: 1 min

Asia-Pacific markets traded mixed Wednesday. Japan's Nikkei 225 was trading about 0.5% lower in the first hour of trade, while the Kospi slid 0.35%. There was a marginal improvement in business sentiment, with the Reuters Tankan non-manufacturing index coming in at +26. Japan is slated to release its April trade data, as well as machinery orders for the month of March. Futures for Hong Kong's Hang Seng index stood at 19,212 pointing to a slightly weaker start compared with the HSI's close of 19,220.62.

Organizations: Nikkei, Reuters, Reserve Bank of New Zealand Locations: Asia, Pacific, Australia, Japan

In this photo illustration the Nvidia logo is displayed on a smartphone screen and in the background. Asia-Pacific markets are set to extend gains from Monday as tech shares pushed the Nasdaq Composite to record highs. Nvidia shares gained more than 2% overnight on multiple bullish analyst calls that highlighted the company's preeminent market position. The tech-heavy Nasdaq gained 0.65% to reach an all-time intraday high and close at a record level at 16,794.87. Investors in Asia will be watching for any spillover effect on companies up and down Nvidia's value chain, such as Taiwan's TSMC and Foxconn , as well as South Korea's Samsung Electronics and SK Hynix.

Organizations: Nasdaq, Samsung Electronics, SK Hynix Locations: Asia, Pacific

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