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☆ Stocks fall, Treasuries gain after Fitch downgrades US rating
▼ + stars: | 2023-08-02 | by ( Xie Yu | ) www.reuters.com time to read: +3 min

REUTERS/Kim Kyung-Hoon/file photoHONG KONG, Aug 2 (Reuters) - Asian stocks traded lower while U.S. Treasury yields declined on Wednesday, after ratings agency Fitch unexpectedly downgraded the United States' top-tier sovereign credit rating. Asian stocks were also weighed by declines on Wall Street overnight. Fitch cut the United States by one notch to AA+ from AAA, citing fiscal deterioration, a decision announced after the Wall Street close on Tuesday. U.S. 10-year Treasury yields declined by about 2 basis points to 4.025% in Tokyo. The United States publishes fresh data on jobless claims and unemployment later this week.

Persons: Kim Kyung, Fitch, Hong Kong's, HSI, Manishi Raychaudhuri, counterintuitively, Steven Ricchiuto, Brent, Xie Yu, Sam Holmes Organizations: REUTERS, U.S, Treasury, United, Japan's Nikkei, AAA, Asia, BNP Paribas, Standard, U.S ., Mizuho Securities, West Texas, Thomson Locations: Tokyo, Japan, HONG KONG, United States, Asia, ., U.S, China

LONDON/HONG KONG, July 4 (Reuters) - Global stocks held steady on Tuesday, as investors balanced the inflationary force of rising oil prices with hopes that central banks would not over-tighten monetary policy into a potential recession. Earlier in the session, Australia's central bank held interest rates steady at 4.1%, saying it needed time to assess the economic impact of its rate hikes so far. Complicating the outlook for inflation, oil prices rose on Tuesday as markets weighed supply cuts for August by top producers Saudi Arabia and Russia. Brent crude futures climbed 0.6% to $75.09 a barrel, with West Texas Intermediate crude adding the same amount to $70.23. "At least the improved supply-demand imbalance seems to be having an effect on price pressures," Capital Economics global economist Ariane Curtis said.

Persons: Europe's, Brent, Ariane Curtis, Curtis, Manishi Raychaudhuri, Raychaudhuri, Schatz, Paul Volcker, Ankur Banerjee, Sam Holmes, Himani Sarkar, Alex Richardson Organizations: U.S . Federal Reserve, Wall, West Texas, Institute of Supply Management, Economics, Asia, BNP Paribas, Treasury, Independence, U.S, Fed, Thomson Locations: HONG KONG, Saudi Arabia, Russia, U.S, Singapore

☆ Stocks dip, dollar steadies as investors seek rates clarity
▼ + stars: | 2023-07-04 | by ( Xie Yu | ) www.reuters.com time to read: +3 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was down 0.1%, by Tuesday mid-morning. Japan's Nikkei share average (.N225) fell 1.1% as investors exited some bullish positions after the benchmark index closed at a 33-year high in the previous session. Geopolitical tensions also persist, he noted, with China's export controls on minerals adding more uncertainty around global trade relations. In the currency market, the dollar index , which tracks the greenback against six major peers, rose slightly to 102.97. The Treasury market is shut Tuesday for Independence Day.

Persons: Manishi Raychaudhuri, Raychaudhuri, Paul Volcker, Sam Holmes Organizations: U.S ., U.S, Independence, Wall, Nikkei, Treasury, Federal, Asia, BNP Paribas, Brent, . West Texas, Fed, Thomson Locations: HONG KONG, Asia, Pacific, Japan, Saudi Arabia, Russia, United States

☆ South Korea, Taiwan stocks bag huge foreign inflow in May on chip demand
▼ + stars: | 2023-06-07 | by ( Gaurav Dogra | ) www.reuters.com time to read: +2 min

June 7 (Reuters) - South Korea and Taiwanese equities experienced a huge influx of foreign investment during May, driven by a surge of interest in artificial intelligence (AI) and the subsequent demand for shares of hardware exporters in the region. Data from stock exchanges in South Korea, Taiwan, India, Indonesia, the Philippines, Thailand and Vietnam showed foreigners purchased a net $11.74 billion worth of regional equities in May - the biggest amount since November 2022. Specifically, Taiwanese equities attracted a massive inflow of $4.4 billion, followed by South Korean equities with $3.1 billion. Meanwhile, foreigners secured a net $5.3 billion worth of Indian stocks, their biggest monthly purchase since August 2022, boosted by its strong economic growth in the March quarter. On the other hand, Thai, Vietnamese and Philippine equities faced outflows of $995 million, $134 million and $81 million, respectively, last month.

Persons: Yeap Jung Rong, Manishi Raychaudhuri, Gaurav Dogra, Patturaja, Simon Cameron, Moore Organizations: South, Reuters Graphics Reuters, BNP, Federal Reserve, Thomson Locations: South Korea, Taiwan, India, Indonesia, Philippines, Thailand, Vietnam, chipmaker, Asia, Pacific, Philippine, Bengaluru

☆ While Asia markets may cheer a Fed pause, watchers are split on growth prospects
▼ + stars: | 2023-05-08 | by ( Jihye Lee | ) www.cnbc.com time to read: +4 min

Ping Shu | Moment | Getty ImagesWhile a pause in the U.S. Federal Reserve's rate-hike cycle would lead to stronger Asian currencies, the region's recent earnings and disappointing Chinese economic data leave watchers split on the growth outlook. Stock Chart Icon Stock chart iconA Fed pause could boost U.S. stocks, but its effect on regional growth in Asia may not be as straightforward. Nomura's equity strategists kept their views for Asia-Pacific stocks unchanged despite the likelihood of a potential Fed pause, maintaining its year-end target for MSCI Asia ex-Japan. "Nonetheless, in our base case, we do not expect a meaningful decline in Asian stocks. "Asian investors' big worry surrounds China," he said, pointing to the "unsustainability of consumption rebound, especially against the backdrop of persistently high youth unemployment levels."

☆ Stocks gain, US treasury yields rise as banking fear eases
▼ + stars: | 2023-03-28 | by ( Xie Yu | ) www.reuters.com time to read: +3 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) edged up 0.3% by early morning Hong Kong time. U.S. Treasury yields rose on optimism that stress in the banking sector could be contained and as the Treasury Department saw soft demand for a sale of two-year notes. Benchmark 10-year yields rose to 3.5317%, up from its U.S. close of 3.528% on Monday. Two-year yields rose to 3.957%, up from a six-month low of 3.555% on Friday but below the almost 16-year high of 5.084% hit on March 8. By Tuesday morning Hong Kong time, Brent crude futures and West Texas Intermediate U.S. crude were both hovering around Monday’s closing levels.

☆ Most Asian equities see outflows in Feb as rate-hike jitters weigh
▼ + stars: | 2023-03-07 | by ( Gaurav Dogra | ) www.reuters.com time to read: +2 min

Foreigners sold equities worth a net $2.1 billion in Thai, Indian, the Philippine and Vietnam markets, data from stock exchanges showed. The trend of money flowing from South Asia into North Asian equities continued in February due to China's plans to reopen borders. Thai equities suffered $1.28 billion worth of foreign outflows, the biggest monthly net selling by outsiders since April 2020. Meanwhile, Indian and Philippine equities also recorded $647 million and $155 million worth of foreign outflows. On the other hand, Indonesian equities received $378 million in February after seeing outflows worth $1.55 billion in the previous two months.

☆ BNP Paribas says it's more positive on mainland China than on Hong Kong this year
▼ + 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 EmailBNP Paribas says it's more positive on mainland China than on Hong Kong this yearManishi Raychaudhuri of the French bank discusses the "two big themes" it's playing in China.

☆ Asia stocks fall, dollar stands firm after sticky U.S. CPI
▼ + stars: | 2023-02-15 | by ( Xie Yu | ) www.reuters.com time to read: +2 min

Fed funds futures now imply a peak above 5.2% by mid-year and rates above 5% at year's end. U.S. stocks finished flat on Tuesday but S&P 500 futures dropped 0.4% in Asia. By mid-morning Hong Kong time, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was down 1.3%, led by drops bigger than 1% in Australia (.AXJO) and Hong Kong (.HSI), and analysts were bracing for further falls. The dollar touched a six-week high of 133.30 Japanese yen overnight and hovered at 132.80 yen on Wednesday. It had a bumpier ride against other currencies following the CPI data, but seems to be pausing following a January slide.

☆ The U.S. Fed probably isn't going to pivot anytime soon, BNP Paribas says
▼ + stars: | 2023-01-31 | 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 U.S. Fed probably isn't going to pivot anytime soon, BNP Paribas saysManishi Raychaudhuri of the French bank says it expects more interest rate hikes to come.

☆ Foreign equity funds pile into Indian financials as credit cycle picks up
▼ + stars: | 2022-12-06 | by ( Anushka Trivedi | ) www.reuters.com time to read: +4 min

MUMBAI, Dec 6 (Reuters) - Foreign investors are buying into Indian financial firms, lured by the prospects of a fresh credit cycle that may boost the stocks of the country's largest lenders. The optimism is reflected in inflows, with foreign investors buying a net of $1.74 billion worth of Indian financial stocks in November, data released by the National Securities Depository Ltd this week showed. Reuters Graphics"PALATABLE" VALUATIONIndian financial stocks are trading at a premium to their historical average, but that is not necessarily the comparison investors are looking at. This has prompted local and foreign investors to pour money into the domestic equity markets, which hit all-time highs last week. The optimism comes despite financial stocks trading at a premium to their two-year historical average on a price-to-book valuation basis.

☆ U.S. interest rates may be rising, but that won't trigger another Asian Financial Crisis, analysts say
▼ + stars: | 2022-09-23 | by ( Su-Lin Tan | ) www.cnbc.com time to read: +5 min

watch nowThe world economy may be facing conditions seen during the 1997 Asian Financial Crisis — aggressive U.S. interest rate hikes and a strengthening U.S. dollar. The Thai baht and other Asian currencies collapsed, triggering the Asian Financial Crisis and leading to slumps in stock markets. Reducing currency disparity with the U.S. dollar reduces the risks of capital flights and foreign exchange rate collapses. Nevertheless, he, too, does not anticipate another Asian Financial Crisis. watch now"They largely let exchange rates absorb the external pressure, rather than supporting the currency by selling FX reserves."

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