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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

A woman walks past Bombay Stock Exchange (BSE) office in Mumbai, India, 18 July, 2022. Nurphoto | Nurphoto | Getty ImagesIndia stocks tumbled Tuesday in volatile trading, leading Asia markets lower as the country continued vote counting for its 2024 general election. The Nifty rose more than 20% last year, while the Sensex was up nearly 19% in 2023. Japan's Nikkei 225 fell 0.22% to close at 38,837.46, while the broader Topix ended 0.38% down at 2,787.48. Hong Kong's Hang Seng index was 0.12% higher, while the CSI 300 index added 0.75% to close at 3,615.67.

Persons: Narendra Modi Organizations: Bombay Stock Exchange, Nurphoto, Getty, BSE, BJP, Japan's Nikkei, CSI Locations: Mumbai, India, Asia, Australia

☆ Asia markets open higher as investors await China manufacturing data
▼ + stars: | 2024-06-03 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: 1 min

Signage for the Shanghai Stock Exchange in Pudong's Lujiazui Financial District in Shanghai, China, on Jan. 29, 2024. Asia-Pacific stock markets rose Monday ahead of a private survey on China's manufacturing sector. The Caixin manufacturing survey will follow official data from Friday that showed China's manufacturing sector unexpectedly contracted in May. Investors will also focus on India markets as exit polls over the weekend suggested Prime Minister Narendra Modi and his Bharatiya Janata Party-led alliance was set for a rare third consecutive term in power.

Persons: Narendra Modi Organizations: Shanghai Stock Exchange, Investors, Bharatiya Janata Party Locations: Lujiazui, Shanghai, China, Asia, Pacific, India

Narendra Modi, India's prime minister, center, during a campaign rally in Agra, Uttar Pradesh, India, on Thursday, April 25, 2024. Local exit polls over the weekend suggested Prime Minister Narendra Modi and his Bharatiya Janata Party-led alliance was set for a rare third consecutive term in power. The BJP-led National Democratic Alliance is expected to secure around 365 out of the 543 seats in the lower house of India's parliament, according to local news channel NDTV's exit poll summary. However, final results, expected on Tuesday, can diverge from exit poll projections. With the incoming government expected to highly prioritize building up India's infrastructure development, shares of Adani Group companies rose on the back of exit poll results as well.

Persons: Narendra Modi, India's, Modi, Prakash Singh Organizations: Bloomberg, Getty, BSE, Bharatiya Janata Party, BJP, National Democratic Alliance, Adani, Adani Enterprises, Ambuja Locations: Agra, Uttar Pradesh, India

☆ 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

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

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

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

People enjoy food and drink at an izakaya bar near Yurakucho Station on June 05, 2020 in Tokyo, Japan. Hong Kong stocks led losses in Asia Pacific on Friday after Wall Street tumbled overnight on rate worries, while investors also digested inflation data from Japan. Hong Kong's Hang Seng index fell 1.71%, while mainland China's CSI 300 dropped 1.11% to end at 3,601.48. In South Korea, the Kospi ended 1.26% lower at 2,687.60, dragged by heavyweight Samsung Electronics, while the small-cap Kosdaq lost 0.85% to close at 839.41. Heavyweight chipmaker Samsung Electronics shares fell 3.07% after Reuters reported that the South Korean tech giant's latest high bandwidth memory (HBM) chips are not yet ready for use by U.S. chipmaker Nvidia.

Organizations: CSI, Samsung Electronics, Reuters, South, Nvidia Locations: Yurakucho, Tokyo, Japan, Hong Kong, Asia Pacific, Hong, South Korea, South Korean

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

☆ CNBC Daily Open: Dow at record close, GameStop shares crash
▼ + stars: | 2024-05-20 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: 1 min

In this article GMENVDATSLAGOOGL Follow your favorite stocks CREATE FREE ACCOUNTAndriy Onufriyenko | Moment | Getty ImagesThis 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. Like what you see? You can subscribe here. What you need to know todayThe bottom line

Persons: Andriy Onufriyenko Organizations: CNBC

☆ Asia markets rise after Wall Street soars on soft inflation data; Japan GDP shrinks
▼ + stars: | 2024-05-16 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: 1 min

The best-performing "Magnificent Seven" stock halfway through the second quarter is Google and YouTube owner Alphabet , up about 14.15%. All four are outpacing the S&P 500, which has risen about 2.1%. By contrast, Microsoft (+0.6%), Tesla (-0.7%) and Meta Platforms (-1%) are all trailing the S&P 500 in the second quarter. The best-performing sector this quarter is the S&P 500 Utilities, up 9.9% and more than twice as much as second-ranked S&P 500 Communication Services, higher by 3.9%. S&P 500 Information Technology (+2.8%) is also outperforming the S&P 500.

Persons: — Scott Schnipper Organizations: Apple, Nvidia, Microsoft, Communication, Real Estate, Health Care

☆ Asia markets track Wall Street gains ahead of key U.S. inflation data
▼ + stars: | 2024-05-15 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: 1 min

Employees work in the trading room inside the Mitsubishi UFJ Trust and Banking head office in Tokyo, Japan, on Tuesday, March 19, 2024. Asia-Pacific markets opened higher Wednesday, tracking Wall Street gains overnight that saw the Nasdaq Composite index hit a fresh record closing high despite strong inflation data. The producer price index reading for April came in at 0.5%, above the 0.3% that economists polled by Dow Jones had expected. The initial market reaction was negative but stocks subsequently rose as March wholesale prices were revised down to show a 0.1% decline. Markets in South Korea and Hong Kong were shut on Wednesday for a public holiday.

Persons: Dow Jones Organizations: Mitsubishi UFJ Trust, Banking, Nasdaq Locations: Tokyo, Japan, Asia, Pacific, South Korea, Hong Kong

Asia-Pacific markets were largely higher Tuesday even as stocks on Wall Street stumbled, with the Dow Jones Industrial Average snapping an eight-day winning streak. Investors in Asia assessed India's inflation numbers. Data released Monday showed consumer price index climbed 4.83% year on year, nearly in line with the 4.8% expected by economists polled by Reuters. India's wholesale inflation reading is due to be released later in the day. Data from the Bank of Japan showed that corporate inflation was steady in April compared with a year earlier, but import prices jumped 6.4% year over year last month, most likely due to the yen's sharp declines.

Organizations: Dow Jones, Reuters, Bank of Japan Locations: Jama, New Delhi, India, Asia, Pacific

DavidCallanAsia-Pacific markets are mixed on Wednesday, mirroring moves in Wall Street's Tuesday session. Investors in the region will parse through earnings reports including those of Japanese giants Toyota and Mitsubishi, as well as Singapore's UOB. Traders will also brace for key economic data out of China and Japan on Thursday, with China releasing its April trade data and Japan announcing its March pay statistics. Japan's Nikkei 225 slipped 0.33% on its open, while the broad based Topix was down 0.3%. South Korea's Kospi extended gains and rose 0.1% after leading Asian markets on Tuesday.

Persons: HSI Organizations: Toyota, Mitsubishi, Traders, Nikkei Locations: DavidCallan Asia, Pacific, Wall, China, Japan

☆ Asia markets higher as Wall Street gains ahead of key U.S. jobs report
▼ + stars: | 2024-05-03 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

A gong inside the Hong Kong Stock Exchange. China Vanke's subsidiary Onewo and EV maker Zhejiang Leapmotor Technology began trading on the Hong Kong market on Thursday. Asia-Pacific markets rose on Friday, tracking Wall Street gains ahead of key U.S. employment data. Economists polled by Dow Jones expect to see 240,000 job gains in the U.S. April nonfarm payrolls report due Friday at 0830a.m. Stock markets in Japan and mainland China were shut for public holidays.

Persons: Dow Jones, nonfarm Organizations: Hong Kong Stock Exchange, China Vanke's, Zhejiang Leapmotor Technology, Apple, Investors, U.S . Federal Reserve, Stock, U.S Locations: China, Hong Kong, Asia, Pacific, U.S, 0830a.m, Taiwan, South Korea, South, Japan

☆ Japan's yen had a rollercoaster week amid suspected intervention. Here's what you need to know
▼ + stars: | 2024-05-03 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +3 min

An undated photographic illustration of Japanese yen and the U.S. dollar bank notes. The yen touched 160.03 against the greenback on Monday, for the first time since 1990, but strengthened to 156 levels later that day amid speculation about an intervention by Japanese authorities. Japanese authorities are yet to issue an official statement confirming their role in propping up the currency. In the last few decades, while other global central banks have tightened their policies, Japan had maintained its ultra-loose policy, leading to concentrated carry trades in the Japanese yen. Market participants believe Japanese authorities will intervene further to prop up the currency.

Persons: Glowimages, they've, Nicholas Smith, Kazuo Ueda, Edward Yardeni Organizations: U.S, Glowimages, CNBC, Bank of America Global Research, Bank of Japan, Bank of, Federal Reserve, Yardeni Research Locations: propping, Japan, U.S, Bank of Japan

☆ Shares of Nio soar more than 20% as EV deliveries more than double in April
▼ + stars: | 2024-05-02 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

Shares of Chinese electric vehicle maker Nio Inc jumped 20% Thursday after its vehicle deliveries more than doubled in April. Nio shares also helped boost the broader Hang Seng index , which jumped 2% by midday trading. "The deliveries consisted of 8,817 premium smart electric SUVs, and 6,803 premium smart electric sedans," the company said in a statement on Wednesday. Nio has delivered 45,673 vehicles so far this year, 21.2% higher than the same period a year earlier. The Chinese EV maker has also been expanding its battery swap partnerships as it seeks to get an edge on the infrastructure side of the EV ecosystem.

Persons: Nio's ET5, Nio Organizations: Central China International, Nio Inc, Hong Locations: Wuhan, China, Hong Kong

☆ Asia markets mostly lower after Federal Reserve holds rates; Yen strengthens further
▼ + stars: | 2024-05-02 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: 1 min

An employee works at the Tokyo Stock Exchange (TSE), operated by Japan Exchange Group Inc. (JPX), in Tokyo, Japan, on Thursday, Jan. 13, 2022. Asia-Pacific stock markets were largely lower on Thursday, after the U.S. Federal Reserve opted to hold interest rates steady at the end of its two-day meeting. Fed Chair Jerome Powell ruled out the possibility of a rate hike, easing worries over the central bank likely not being able to rein in inflation. Focus will be on the Japanese yen , which had a volatile start to the week amid suspected government intervention to prop up the currency on Monday. It was last trading at 155.83 against the U.S. dollar.

Persons: Jerome Powell Organizations: Tokyo Stock Exchange, Japan Exchange Group Inc, U.S . Federal, U.S . Locations: Tokyo, Japan, Asia, Pacific

☆ IMF raises its Asia growth forecast for 2024, highlights India's growth and China stimulus as key drivers
▼ + stars: | 2024-04-30 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

The International Monetary Fund raised its Asia growth forecast for 2024 on Tuesday, as it remained optimistic about India's growth and focused on the need for more stimulus from China. The IMF now expects Asia's economy to grow 4.5% this year, up 0.3 percentage points from six months earlier. The upward revision reflects upgrades for China, the IMF said, where it expects policy stimulus to provide support. India is currently the world's fifth-largest economy with GDP of $3.7 trillion and is aiming to become the world's third-largest by 2027. IMF's Srinivasan also wrote that strong private consumption will continue to drive growth in Asia's other emerging markets.

Persons: Krishna Srinivasan, IMF's Srinivasan Organizations: Monetary Fund, IMF Locations: Asia, China, Pacific, India

☆ Asia's first spot bitcoin and ether ETFs debut in Hong Kong
▼ + stars: | 2024-04-30 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +3 min

Dado Ruvic | ReutersHong Kong on Tuesday launched six spot bitcoin and ether exchange traded funds — becoming the first in Asia to offer retail investors the ability to trade the cryptocurrencies at spot prices. The cryptocurrency ETFs were issued by three Chinese firms — China Asset Management, Bosera Asset Management, and Harvest Global Investments — on the Hong Kong exchange. Spot bitcoin ETFs by ChinaAMC, Bosera HashKey and Harvest were above 3% higher in early trading, but subsequently gave up some gains to trade by about 1.5% higher. The three ether ETFs were trading above 1% in the morning, but fell into negative territory by the late afternoon. The spot crypto ETFs had received regulatory approval under the provision of virtual asset management services, but crypto futures ETFs have been trading on the HKEX since late 2022.

Persons: Dado Ruvic, Bosera, Bitcoin, Antoni Trenchev, Nexo, Trenchev, Han Organizations: Reuters, Tuesday, China Asset Management, Bosera Asset Management, Harvest Global, Hong, Hong Kong's Securities, Futures Commission, ChinaAMC, U.S . Securities, Exchange Commission, CNBC, Stock Exchange of Hong, ., Harvest Global Investments Locations: Reuters Hong Kong, Asia, China, Hong Kong, U.S, Singapore, Dubai, Japan, South Korea, Stock Exchange of Hong Kong

Asia-Pacific markets were mixed on Friday as investors in Asia look to the Bank of Japan's policy decision and inflation figures out of Tokyo. Thirteen economists polled by Reuters unanimously forecast that the BOJ will leave its monetary policy unchanged. Tokyo's headline inflation rate for April came in at 1.8%, slowing from the 2.6% in March. Core inflation in the capital — which strips out prices of fresh food — sharply fell to 1.6% from March's 2.4%, missing expectations of 2.2% from economists polled by Reuters. Tokyo inflation data is widely considered as a leading indicator of nationwide trends.

Persons: Cherry Organizations: Nippon Budokan, Bank of, Reuters Locations: Tokyo, Japan, Asia, Pacific

☆ Japanese yen hits fresh 34-year low despite verbal intervention from authorities
▼ + stars: | 2024-04-25 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +2 min

In this article JPY= Follow your favorite stocks CREATE FREE ACCOUNTThe Japan flag is juxtaposed against a Japanese yen bank note. Javier Ghersi | Moment | Getty ImagesThe yen slipped past 155 against the U.S. dollar on Thursday, touching a new 34-year low against continued strength in the greenback. The weakness comes as the Bank of Japan is due to release its monetary policy decision Friday and in spite of verbal warnings from Japanese authorities. Some market watchers had speculated that the 155 level would prompt intervention after the currency languished at multi-decade lows for a month. The yen has weakened 4.2% since the BOJ's March meeting, worrying Japanese authorities and investors.

Persons: Javier Ghersi, Shusuke Yamada, Jerome Powell, Appio Organizations: U.S, Bank of Japan, BofA Securities, Federal, First Eagle Investments, CNBC, Korean Locations: Japan, South Korea

Commercial and residential buildings seen from the rooftop of the Lotte Corp. World Tower at sunset in Seoul, South Korea, on Tuesday, Nov. 28, 2023. Asia-Pacific markets took a breather after two straight days of rallies, mirroring moves on Wall Street ahead of first-quarter gross domestic product figures from the U.S. due Thursday. In Asia, investors will assess South Korea's advance first-quarter GDP growth of 3.4% year on year, the highest quarterly growth since the fourth quarter of 2021. Separately, the Bank of Japan kicks off its monetary policy meeting Thursday as investors monitor for action against yen weakness. The yen slid past the 155 mark against the U.S. dollar on Wednesday, hitting a fresh 34-year low.

Organizations: Lotte Corp, Bank of Japan, U.S Locations: Seoul, South Korea, Asia, Pacific, U.S

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