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

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

☆ Australia's biggest pension funds cut China exposure, buy fossil fuels
▼ + stars: | 2023-03-30 | by ( Lewis Jackson | ) www.reuters.com time to read: +3 min

SYDNEY, March 30 (Reuters) - Two of Australia's largest pension funds pulled money out of Chinese stocks and boosted positions in the country's fossil fuel sector in the final six months of 2022, according to filings published on Thursday. Both funds collectively increased their shareholdings in Woodside Energy Group (WDS.AX), Australia's largest independent natural gas producer, by roughly 14 million shares. The disclosures come just days after activist investors accused the big Australian pension funds of failing to push fossil fuel producers like Woodside hard enough to decarbonise. The figures reveal pension funds pulling back from China during the back half of 2022, a time when investors across the developed world were reconsidering exposure to a country still subject to strict COVID lockdowns. Aware Super said in a statement it had a "relatively small exposure" to China mostly via external managers.

REUTERS/Tyrone SiuHONG KONG, March 21(Reuters) - The organisers of Art Basel Hong Kong, one of Asia's leading contemporary art fairs, said on Tuesday they are bullish on art market prospects in the region, with China and Hong Kong now having lifted all COVID lockdown restrictions. The annual fair, which also has iterations in Basel, Paris, and Miami Beach, runs from March 23-25 in Hong Kong. "Despite the challenges of the pandemic, the Asian art market has also remained resilient, with Greater China accounting for 20% of worldwide sales by value and ranking second as the second largest regional art market in the latest edition of the Art Basel," Art Basel CEO Noah Horowitz told reporters. Leading international galleries at Art Basel this year include Gagosian, Hauser & Wirth, Lehmann Maupin, Victoria Miro, Pace, Perrotin, White Cube and David Zwirner. We haven't really changed the process of the show since 2013," said Angelle Siyang-Le, the director Art Basel Hong Kong.

☆ Baidu stock rebounds after falling sharply in wake of demo of ERNIE chatbot, its ChatGPT-style service
▼ + stars: | 2023-03-17 | by ( Michelle Toh | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —Shares in Chinese search giant Baidu rebounded sharply a day after it unveiled ERNIE Bot, its answer to the ChatGPT craze. Its Hong Kong shares fell 6.4% after a public demonstration of its bot failed to impress investors. The reversal came after the company said more than 30,000 businesses had signed up to test out its chatbot service within two hours of its demonstration. Baidu Chairman and CEO Robin Li presenting the company's AI chatbot, ERNIE Bot, in Beijing on March 16. But its stock slumped on Thursday because the demo was “pre-recorded, and not live, which makes investors skeptical about the robustness of the ERNIE Bot,” according to Pau.

☆ How McDonald’s won over China
▼ + stars: | 2023-02-28 | by ( Shawn Baldwin | ) www.cnbc.com time to read: 1 min

McDonald's is one of the world's largest restaurant chains, drawing 60 million customers daily at more than 40,000 locations worldwide. The fast food giant plans to open 1,900 new restaurants this year, almost half of them in China, McDonald's CFO Ian Borden told analysts on an earnings call in January. McDonald's got its start in China in the early '90s. Today, the chain has more than 4,500 restaurants in mainland China and Hong Kong with considerable room for growth. Even still, China is McDonald's second-largest market by store count, behind the U.S.

☆ Apple supplier unlikely to resume full India operations for two months after massive fire
▼ + stars: | 2023-02-28 | by ( ) edition.cnn.com time to read: +3 min

Reuters —Most of the fire safety equipment at Apple supplier Foxlink’s facility in southern India was not functional, a government official told Reuters on Tuesday, a day after a massive blaze forced production to be halted. Foxlink was engulfed in a massive fire on Monday that led part of the building to collapse. A second source familiar with the developments said that Foxlink was a key supplier for Apple in India, and “there could be potential supply chain disruptions for iPhones made in India, or shipped from India”. Last year, the data indicates Foxlink exported around 7 million USB-C to lightening cables from India, and in January shipped 1.6 million units. The incident is the latest problem to hit Apple suppliers in India, from where it is increasingly ramping up manufacturing and exports.

Losses were limited by oil supply concerns after Russia halted exports to Poland via a key pipeline. That positive economic data helped global stock markets to rebound, yet shares remained near six-week lows as investors braced for interest rate hikes in the United States and Europe. Adding to global oil demand worries, rising Sino-U.S. tensions hammered equity markets in China and Hong Kong while investors awaited policy signals from the upcoming National People's Congress. On Monday, Russian oil pipeline monopoly Transneft said it started pumping oil from Kazakhstan to Germany via Poland through the Druzhba pipeline, while halting deliveries to Poland. Russia announced plans this month to cut oil exports from its western ports by up to 25% in March versus February, exceeding previously mooted production cuts of 5%.

☆ Berlinale film marks Chinese star Fan Bingbing's return to cinema
▼ + stars: | 2023-02-23 | by ( James Imam | ) www.reuters.com time to read: +3 min

[1/4] Cast member Fan Bingbing attends a news conference during the promotion of 'Green Night' at the 73rd Berlinale International Film Festival in Berlin, Germany, February 23, 2023. Her reappearance also spotlighted the return of Chinese-language film to the international stage, as mainland China and Hong Kong have eased zero-COVID policies, allowing for international travel. Featuring both Mandarin and Korean dialogue, the film is one of several from China and Hong Kong receiving world premieres at the Berlinale. In "Green Night", Fan plays the role of Jin Xia, a Chinese immigrant working as a security guard at Seoul airport. Chinese cinema is showing signs of thriving in Berlin, Fan said.

☆ Not many global investors are buying into China's reopening story yet, says investment firm
▼ + stars: | 2023-02-22 | 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 EmailNot many global investors are buying into China's reopening story yet, says investment firmWilliam Ma of Grow Investment Group says consumption will be a "big theme" for the mainland China and Hong Kong markets this year.

☆ Chinese Shares Lead Gains as U.S. Breaks for Presidents Day
▼ + stars: | 2023-02-20 | by ( Dave Sebastian | Caitlin Ostroff | ) www.wsj.com time to read: 1 min

Friday action in New York, where stock markets are shut Monday for Presidents Day. Stocks in mainland China and Hong Kong rose Monday, giving a strong start to global equities on a day when U.S. markets are shut for a public holiday. China’s broad CSI 300 index closed up 2.5%, its biggest single-day rise this year. The Shanghai Composite Index gained 2.1%, and Hong Kong’s Hang Seng Index rose 0.8%.

☆ Unsure about the market rally? Strategist picks 3 stocks to stay ‘defensively offensive’
▼ + stars: | 2023-02-20 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

"There are basically two stories in the market today," Rahul Ghosh, portfolio specialist, equity division at T. Rowe Price, told CNBC's "Street Signs Asia" on Thursday. Be 'defensively offensive' In this environment, Ghosh said investors should look to be "almost defensively offensive." Stock Ideas One of Ghosh's top stock picks is chip maker Nvidia , which he described as a "clear winner" in the artificial intelligence "arms race." We're talking about slowing from 50% growth rate to 30%, and potentially picking up next year. Are we going to potentially slow down and have a hard landing, a no landing, or a soft landing?

☆ Asia-Pacific shares trade mixed, tracking Wall Street's struggle for direction
▼ + stars: | 2023-01-25 | by ( Lee Ying Shan | ) www.cnbc.com time to read: 1 min

Asia-Pacific shares traded mixed on Wednesday, taking the lead from Wall Street's struggle for direction as China and Hong Kong markets remain closed for the Lunar New Year holidays. In South Korea, the Kospi rose 1.3%, while the Kosdaq climbed 1.16% in its first hour of trade. Japan's Nikkei 225 dipped 0.22% and the Topix shed 0.06%. Australia's S&P/ASX 200 traded flat as investors await the release of the country's inflation reading.

☆ Switzerland sent 524 tonnes of gold to China last year, the most since 2018
▼ + stars: | 2023-01-24 | by ( Peter Hobson | ) www.reuters.com time to read: +2 min

Last year, it exported 524 tonnes of gold worth around $33 billion at current prices to mainland China and Hong Kong, up from 354 tonnes in 2021 and the most since 2018, Swiss customs data showed. Switzerland shipped 69 tonnes of gold to Singapore, up from 33 tonnes in 2021 and the most since 2017, and 92 tonnes to Thailand, up from 56 tonnes in 2021 and the most since 2013. Switzerland sent 224 tonnes of gold to India last year, down from 507 tonnes in 2021. But if prices remain high, India's appetite for gold will likely remain weak, he said: "They are real bargain hunters. SWISS GOLD EXPORTS, ANNUAL (KG)SWISS GOLD EXPORTS, MONTHLY (KG)* Source: Swiss customs.

HONG KONG, Jan 19 (Reuters Breakingviews) - Macau is bounding into the Year of the Rabbit. Meanwhile arrivals from China and Hong Kong reached roughly 40% of 2019 traffic as of Jan. 13, per Morgan Stanley. That is remarkable given the mainland and Macau only relaxed restrictions less than two weeks ago. Melco Resorts & Entertainment , MGM China (2282.HK), Sands China (1928.HK) and Wynn Macau (1128.HK) have seen their leverage ratios swell. Ultimately to rebalance borrowings, Macau needs returning visitors to spend as much – or more – as they did in the past.

HONG KONG — On the first day of unimpeded travel between mainland China and Hong Kong, Olivia Gai was one of the first in line. On Tuesday, the Chinese embassies in South Korea and Japan said they would stop issuing short-term visas for travelers to China. The South Korean Foreign Ministry says its restrictions on travelers from China are based on science. According to some estimates, China’s Covid death toll could reach 1 million or more in the coming months. Nonetheless, more countries have begun requiring negative Covid tests for travelers from China, and at least one country, Morocco, has banned arrivals entirely.

☆ Alibaba, other China ADRs surge as Ant Group capital plan approval fuels hope for relaxing scrutiny
▼ + stars: | 2023-01-04 | by ( Jesse Pound | ) www.cnbc.com time to read: +2 min

Alibaba has faced growth challenges amid regulatory tightening on China's domestic technology sector and a slowdown in the world's second-largest economy. Chinese tech stocks that trade in the U.S. jumped Wednesday morning after Chinese officials approved an expanded capital plan from Ant Group. U.S.-listed shares of Alibaba jumped more than 6% in premarket trading after the news, as did stock of JD.com . The moves come as investors are seeing signs of a more relaxed Chinese regulatory environment. Correction: Chinese tech stocks that trade in the U.S. jumped Wednesday morning.

[1/2] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, December 27, 2022. With markets thin, China and Hong Kong stocks fell, and MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was down 0.7% at 1223 GMT. U.S. stock index futures pointed to a more upbeat tone on Wall Street, with Nasdaq 100 e-minis up 0.6% and S&P 500 e-minis up 0.4% . Risk appetite was subdued for much of 2022 as global central banks raised interest rates in an attempt to bring down inflation. The Fed raised interest rates by 50 bps earlier in December after delivering four consecutive 75 bps hikes in the year, but it has said it may need to keep higher interest rates for longer.

☆ Stock delisting risks averted as US gains access to audit papers of Chinese tech companies
▼ + stars: | 2022-12-16 | by ( Laura He | ) edition.cnn.com time to read: +3 min

The announcement marks a major breakthrough in a yearslong standoff over how Chinese companies listed on Wall Street should be regulated. There are more than 260 Chinese companies listed on US stock exchanges, with a combined market capitalization of more than $770 billion, according to recent calculations posted by the US-China Economic and Security Review Commission. The United States had increased pressure by passing a law in December 2020 requiring Chinese companies listed in the US to open their books to audit watchdogs. In Friday’s statement, the PCAOB said it had inspected the audits of eight Chinese companies completed by KPMG Huazhen LLP in China and PricewaterhouseCoopers in Hong Kong. She added that the watchdog is continuing to demand complete access in mainland China and Hong Kong moving forward.

☆ 10 U.S. stocks to buy as China eases Covid restrictions and looks to reopen
▼ + stars: | 2022-12-15 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Stocks with high exposure to China could stand to gain if the country moves away from its Covid protocols next year, according to Jefferies. A continuation of China's "zero Covid" policy has worried business leaders around the world who view the country as a key part of the global supply chain. For instance, both got boosts in late November after the Chinese government granted resort operators provisional licenses to continue operating in Macau, which signaled progress away from Covid restrictions. Production in Shanghai lagged earlier in the year due to a combination of supply chain challenges and Covid restrictions. Later in the month, plant workers protested amid broader demonstrations against the country's Covid restrictions .

The announcement from the U.S. accounting watchdog removes the risk that around 200 Chinese companies, including Alibaba (BABA.N), could be kicked off U.S. stock exchanges. "This falls into the category of a game changing view of Chinese companies because the threat of their delisting seems to have been eliminated." Washington and Beijing reached a landmark deal in August to settle a long-running dispute over auditing compliance of U.S.-listed Chinese firms. Authorities in China have long been reluctant to let overseas regulators inspect local accounting firms, citing national security concerns. U.S. lawmakers in 2020 agreed to legislation that would oust Chinese companies from U.S. stock exchanges unless they adhere to American auditing standards.

"This falls into the category of a game changing view of Chinese companies because the threat of their delisting seems to have been eliminated," said Art Hogan, chief market strategist at B. Riley Financial. However, the relief was not seen in Thursday's trading for U.S.-listed shares of Chinese companies, which were higher amid the news, but gave up gains and some ended sharply lower. Washington and Beijing reached a landmark deal in August to settle a long-running dispute over auditing compliance of U.S.-listed Chinese firms. Authorities in China have long been reluctant to let overseas regulators inspect local accounting firms, citing national security concerns. U.S. lawmakers in 2020 agreed to legislation that would oust Chinese companies from U.S. stock exchanges unless they adhere to American auditing standards.

☆ Delisting risk eases for Alibaba and other US-listed Chinese companies after American officials get audit access
▼ + stars: | 2022-12-15 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

Alibaba and other US-listed Chinese firms face a lower risk of delisting after officials got access to audit data. Inspectors conducted on-site work in Hong Kong but have yet to gain access to mainland China. The work lessens the potential that roughly 200 Chinese companies will be booted from American exchanges. Chinese officials have cited national security concerns for shutting down inspection demands. The watchdog said it's continuing to demand complete access in mainland China and Hong Kong and is already planning for regular inspections starting in early 2023.

☆ Asia stocks choppy as investors cautious after disappointing China data
▼ + stars: | 2022-11-30 | by ( Kane Wu | ) www.reuters.com time to read: +3 min

HONG KONG, Nov 30 (Reuters) - Asian shares wobbled on Wednesday as investors remain cautious about China's path to reopening its economy after it released disappointing manufacturing data, with China and Hong Kong stocks wiping out strong gains from the previous day. MSCI's gauge of Asia Pacific stocks outside Japan (.MIAPJ0000PUS) was up 0.02% at 0201 GMT, paring earlier losses. The losses in Hong Kong and China reversed positive sentiment from Tuesday, when Chinese officials said the country would speed up COVID-19 vaccinations for elderly people. "Headlines from China regarding COVID restrictions and protests are causing jitters among investors. A series of U.S. data concerning manufacturing, inflation and jobs will also be released this week.

☆ Morning Bid: Uneasy Chair
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +4 min

A look at the day ahead in U.S. and global markets from Mike Dolan. While inflation looks past its peak, labour markets remain super tight and Powell speaks before another crucial nationwide employment report on Friday. Futures market expectations for peak Fed rates next May ticked back above 5% ahead of the speech, with about 35 basis points of rate cuts from there still priced by yearend. China and Hong Kong shares extended gains on Wednesday as market participants cheered an easing of COVID-19 measures in Guangzhou city. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

HONG KONG, Nov 30 (Reuters Breakingviews) - President Xi Jinping is wrapping up his massive property stress test, but it looks like few have passed. It was precisely what the now near-collapsed China Evergrande (3333.HK) had asked for back in 2020, before regulators dashed its hopes of listing in the Chinese mainland. Among them is Country Garden (2007.HK), whose U.S. dollar bond that matures in January has rebounded 43% to 96 cents on the dollar this month. In comparison, an Evergrande bond due in January still trades at 5.5 cents. These property bailouts are set to leave most in the sector out in the cold.

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