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☆ U.S. will not invite sanctioned Hong Kong leader to APEC in November
▼ + stars: | 2023-07-29 | by ( ) www.cnbc.com time to read: +2 min

Hong Kong Chief Executive John Lee, who faces sanctions in the U.S., will not be invited to San Francisco during November's Asia-Pacific Economic Cooperation summit. The U.S. is set to host this year's gathering of leaders of APEC, of which Hong Kong is a member. Hong Kong's top official John Lee was placed under U.S. sanctions in 2020 because of his role in implementing what Washington deems a "draconian" Hong Kong national security law when he was the city's security secretary. A State Department spokesperson, asked about the decision, said the participation of all delegations in APEC events will be "in accordance with U.S. laws and regulations and on the basis of the spirit and principles of APEC." "We will work with Hong Kong, China to ensure appropriate participation in San Francisco," the spokesperson said, adding without giving details that U.S. President Joe Biden had begun sending invitations for the event.

Persons: John Lee, Hong, Hong Kong's, Marco Rubio, Lee, Rubio, Hong Kongers, " Rubio, Joe Biden, Liu Pengyu, Biden, Xi Jinping Organizations: San, Economic Cooperation, APEC, Washington, Hong, Reuters, Republican, U.S . State Department, U.S, The Washington, State Department, U.S . Treasury Department, China's Locations: Hong Kong, U.S, San Francisco, November's Asia, United States, China, Washington

☆ Yen rises amid reports the Bank of Japan may discuss 'tweaking' policy
▼ + stars: | 2023-07-28 | by ( Sumathi Bala | ) www.cnbc.com time to read: +1 min

The yen was hovering around the 139.13 mark against the U.S. dollar at about 11:25 a.m. Hong Kong/Singapore time. The Japanese yen rose on Friday morning in Asia, on the back of a report that the Bank of Japan could potentially "discuss tweaking" its yield curve control policy at today's policy meeting. Under its yield curve control policy, the central bank targets short-term interest rates at -0.1% and the 10-year government bond yield at 0.5% above or below zero. With inflation having exceeded the BOJ's 2% target, concerns are rising that Japan's relatively low interest rates have made the yen less attractive and vulnerable to selling. Central banks around the world have raised rates aggressively to rein in on inflation, but Japan has continued to maintain an ultra-loose monetary policy and kept rates low.

Persons: — CNBC's Lim Hui Jie Organizations: Nikkei, U.S, Bank of Japan Locations: Hong Kong, Singapore, Asia, Japan

☆ Stunning before-and-after photos show how heavy rain and snow replenished California's dried up reservoirs, even bringing a zombie lake back to life
▼ + stars: | 2023-07-28 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +4 min

Photos showed the dramatic transformation at Lake Oroville, the second-largest reservoir. Some lakes, like Tulare Lake in the Central Valley, have also re-emerged after being drained years ago. Photos of Lake Oroville taken in September of 2021 and April of 2023 showed the stark transformation. The Enterprise Bridge at Lake Oroville in Oroville, California on September 05, 2021 (top), and on April 16, 2023 (below). Houseboats parked at a marina at Lake Oroville in Oroville, California, on September 05, 2021 (top) and on April 16, 2023 (below).

Persons: Josh Edelson, It's, David, Jae C Organizations: Service, Los Angeles Times, Getty, Washington Post, Post Locations: Oroville, Tulare, Central, California, Shasta, Lake Oroville, Oroville , California, AFP, Fresno County, Mississippi, Corcoran, Calif

☆ CNBC Daily Open: Powell’s conference had something for bulls and bears
▼ + stars: | 2023-07-27 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +5 min

Al Drago | Bloomberg | 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. However, Chair Jerome Powell left the door open to a subsequent rate hike, saying the central bank will make decisions "meeting by meeting." At his post-meeting press conference, Chair Jerome Powell, in other words, deftly negotiated expectations from market bulls and bears, and somehow managed to reaffirm the case of both camps. The "hawkish" part will please the bears, while the "hold" portion will appeal to the bulls.

Persons: Jerome Powell, Al Drago, Hong, Mukesh Ambani, Dow, that's, —, Powell, Frances Donald, CNBC's Fred Imbert, that'd Organizations: US Federal Reserve, Market, Bloomberg, Getty, CNBC, Federal, Dow Jones, Samsung Electronics, Wall, Revenue, Reality Labs, BlackRock, India BlackRock, Jio Financial Services, CNBC Pro, Manulife Investment Management, Nasdaq, Dow Locations: Washington , DC, Asia, Pacific, Indian

☆ Morning Bid: Markets brace for Fed decision, earnings flood
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +2 min

Investors will be listening carefully to Chair Jerome Powell for indications of whether or not another interest rate hike is in the pipeline. The Fed's communication could set the tone for markets ahead of policy decisions from the European Central Bank (ECB) on Thursday and the Bank of Japan (BOJ) on Friday. Reuters GraphicsEuro zone June M3 annual growth and lending data on Wednesday are unlikely to affect markets ahead of the ECB's decision. Chinese stock markets were mostly lower on Wednesday following a steep rally the day before. China's blue-chip CSI300 (.CSI300) index was down 0.3% while the CSI 300 Real Estate index gained 0.2%.

Persons: Brigid Riley, Jerome Powell, HSI, Sonali Desai, Edmund Klamann Organizations: Federal Reserve, Federal, Market, European Central Bank, Bank of Japan, ECB, Reuters, Fisher, Union Pacific Corp, eBay, Boeing, Microsoft, Carrefour, Danone, GSK, CSI, CPI, Reserve Bank of Australia, U.S, Fed, Thomson Locations: United States, U.S, Europe, France, Asia, China

☆ CNBC Daily Open: Even meme stocks are rallying in this market
▼ + stars: | 2023-07-25 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This 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. Stocks rallyMajor U.S. stock indexes ended Monday in the green, with the Dow Jones Industrial Average notching an 11-day winning streak. Busy week for central banksThe U.S. Federal Reserve, the European Central Bank and the Bank of Japan will all announce interest rate decisions this week. Using FactSet data, CNBC Pro screened 100,000 stocks to identify just four major stocks from around the world that have raised dividends by more than 10% annually over the past 15 years.

Persons: Elon, Linda Yaccarino's Organizations: CNBC, U.S, Dow Jones, Shenzhen Component, Chinese Communist Party, Twitter Twitter, Twitter, U.S . Federal Reserve, European Central Bank, Bank of Japan, ECB, CNBC Pro Locations: Asia, Pacific, Shanghai, Shenzhen, U.S

July 26 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. China's blue chip equity index rose nearly 3% for its best day this year, and Chinese property stocks surged 8% for their biggest rise this year too. Hong Kong's main property stocks index jumped 14%, the biggest rise since March last year. The mainland property index is still down 13% this year and the Hong Kong-based index is down 25%. All this comes ahead of the first of three major central bank policy decisions this week - the Federal Reserve is expected to raise rates 25 basis points on Wednesday, followed by a similar move from the European Central Bank on Thursday and the Bank of Japan holding the line on Friday.

Persons: Jamie McGeever, It's Organizations: MSCI's, Big Tech, Microsoft, Federal Reserve, European Central Bank, Bank of Japan, Thomson, Reuters Locations: China, Hong, Hong Kong, MSCI's Asia, Japan, Asia, Australia, Singapore

CNN —Russian missiles badly damaged dozens of Ukrainian architectural landmarks, including a historic Orthodox cathedral in the southern port city of Odesa, sparking outrage and prompting President Volodymyr Zelensky to vow retaliation. “Russians deliberately aimed their missiles at the historic city center of Odesa, which is under the UNESCO protection. Some of the other cultural sites damaged include the House of Scientists and Zhvanetskyi Boulevard, Odesa’s Mayor Hennadii Trukhanov said Sunday. Jae C. Hong/APThe cathedral lies in Odesa’s city center, which UNESCO named a World Heritage Site amid the threat of Russia’s invasion. “Missiles against peaceful cities, against residential buildings, a cathedral … There can be no excuse for Russian evil,” Zelensky said.

Persons: Volodymyr Zelensky, Odesa –, Oleh Kiper, Hennadii Trukhanov, Jae C, Catherine the Great, Oleksandr Tkachenko, Maia Sandu, Russia’s, Oleksandr Gimanov, ”, Julia Gorodetska, I’ve, Odesa, Zelensky, ” Zelensky, Serhii Smolientsev, Reuters “, Josep Borrell, Oleh Syniehubov, ” Syniehubov Organizations: CNN, UNESCO, Scientists, Zhvanetskyi, Ukrainian, Heritage, Getty, Command, Russian Ministry of Defense, “, Odesa, Reuters, Telegram . Civilian Locations: Russian, Odesa, Odesa’s, Soviet, Ukraine, Russia, Moscow, AFP, Ukrainian, Kharkhiv, Dvorichna, Kharkiv, Chuhuiv, Kupyansk

And, in that same earnings call earlier this year, Novogratz said Galaxy hired some traders based in Hong Kong. Just this week, Societe General 's crypto arm received approval by France's financial regulator to offer crypto services, including crypto assets. The next month, Hong Kong implemented a new licensing regime so crypto exchanges can serve retail customers. Hong Kong, in particular, has tried to position itself as an international hub for crypto. Galaxy Chief Investment Officer Chris Ferraro echoed that sentiment in a recent "Crypto World" interview.

Persons: –, Mike Novogratz, Brian Armstrong, Novogratz, Cantor Fitzgerald's Elliot Han, Dean Sovolos, Lily King, Cobo, Owen Lau, Chris Ferraro, Kraken –, Binance, Han, we're Organizations: BlackRock, SEC, Washington, Galaxy, United, Gemini, Payment, Societe, European Union, Crypto, Assets Regulatory Authority, Financial, Oppenheimer, U.S, Coinbase, Huobi, BTC Locations: U.S, Europe, Hong Kong, Abu Dhabi, Dubai, Bermuda, United Arab Emirates, Asia, Gurgaon, India, Singapore, United States, East, VARA, B2C2, Silicon, London, Berlin, China

☆ CNBC Daily Open: Investment banking’s coming back
▼ + stars: | 2023-07-19 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This 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. Meanwhile, investors pushed Bank of America shares up 4.42% on the bank's earnings and revenue beat for the second quarter. [PRO] Predictions for the global marketThe U.S. stock market has rallied this year, but the picture across the world is more varied. CNBC Pro asked 15 market strategists to predict how global stock markets will end the year.

Persons: Morgan Stanley's, I'm Organizations: CNBC, Dow Jones, Nikkei, Microsoft, Revenue, Bank of America, Employees, Google, CNBC Pro, U.S . Locations: Asia, Pacific, U.S

☆ Evergrande's liabilities, depleted coffers raise business viability concerns
▼ + stars: | 2023-07-18 | by ( Clare Jim | ) www.reuters.com time to read: +4 min

The firm announced an offshore debt restructuring plan in March, expecting it to facilitate a gradual resumption of operations and generation of cash flow. Total cash slumped to 14.3 billion yuan, versus 28.8 billion yuan in 2021 and 180.7 billion yuan in 2020. OFFSHORE DEBTCreditors and analysts are now waiting for the convening hearings for Evergrande's offshore debt restructuring schemes in the hope to get more clarity on its business outlook. A company risks being delisted in Hong Kong if its shares remain suspended for 18 months. Hong Kong Stock Exchange said it does not comment on individual companies as a policy.

Persons: Charles Macgregor, Evergrande, Clare Jim, Himani Sarkar Organizations: HK, Lucror, Evergrande, Services, New Energy Vehicle Group, Prism, Shanghai Limited, Hong Kong Stock Exchange, Thomson Locations: HONG KONG, China, Asia, China's, Hong Kong, Cayman Islands, Prism Hong Kong

☆ CNBC Daily Open: The long-awaited recession might not come
▼ + stars: | 2023-07-18 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Meanwhile, China's lackluster gross domestic product figures, released yesterday, prompted Wall Street to cut their expectations of China's annual growth to around 5%. Peak oil demandIndia imported 2.2 million barrels of Russian oil per day in June. Since Russia invaded Ukraine in February last year and oil price caps were instituted, India has become one of the leading importers of Russian oil. Buffett previously revealed Berkshire added to its initial Activision stake in a bet the deal would close and cause shares to rise.

Persons: Hong, Hong Hao, Viktor Katona, Berkshire Hathaway, Buffett, Bitcoin, bitcoin Organizations: New York Stock Exchange, CNBC, Grow Investment, Activision Blizzard, Microsoft, Activision, BlackRock Locations: New York City, Asia, Pacific, India, Russia, Ukraine, Berkshire

☆ CNBC Daily Open: Cool inflation and hot markets
▼ + stars: | 2023-07-13 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This 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. Disinflation in processU.S. headline inflation in June rose just 0.2% compared with May, and 3% from a year ago — the lowest level since March 2021. Excluding food and energy prices, core CPI was 0.2% higher month on month and 4.8% higher on an annual basis. China's trade trickling dryChina's trade activity in June indicated the country's economic slump isn't over.

Persons: Dow Jones, xAI Elon Musk, xAI, Michael Schumacher Organizations: CNBC, Nasdaq, Imports, SpaceX, Twitter, Google, Federal Reserve, Wells, Wells Fargo Securities Locations: Asia, Pacific, South, Wells Fargo

☆ Asian shares jump as investors eye end to Fed hikes, China stimulus
▼ + stars: | 2023-07-11 | by ( Julie Zhu | ) www.reuters.com time to read: +3 min

HONG KONG, July 11 (Reuters) - Asian shares bounced and the safe-haven dollar edged lower on Tuesday as investors hoped this week's U.S. inflation data supports an imminent end to rate hikes and cheered the prospect China will deliver economic stimulus to prop up stalling growth. Early in the Asian trading day, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was up 0.7% while U.S. stock futures, the S&P 500 e-minis , rose 0.06%. Australian shares (.AXJO) edged up 1.01%, while Japan's Nikkei stock index (.N225) rose 0.66%. Shares of Intel (INTC.O) rose 2.8% and an index of semiconductors (.SOX) was up 2.1%. The two-year yield , which rises with traders' expectations of higher Fed fund rates, touched 4.8639% compared with a U.S. close of 4.862%.

Persons: HSI, Brent, Sam Holmes Organizations: Federal, U.S, CPI, ANZ, Japan's Nikkei, Dow Jones, Nasdaq, Intel, Treasuries, Treasury, Thomson Locations: HONG KONG, U.S, China, Asia, Pacific, Japan, Refinitiv

☆ Chinese real estate stocks rise as Beijing extends property support measures
▼ + stars: | 2023-07-11 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

A crane with the China Vanke logo at a residential construction site in China, on Sept. 28, 2021. Hong Kong-listed real estate stocks saw large gains. However, the CSI 300 Real Estate Index fell 0.44%, paring gains from earlier. Chinese real estate stocks mostly rose after the country announced it will extend two financial policies to support the real estate market until the end of 2024. Xinhua reported that the move is to "guide financial institutions to continue deferring loan payments for real estate enterprises, while propping up financial support for the real estate enterprises to ensure the delivery of housing projects."

Persons: ICBC Organizations: Logan Group, Country Garden Holdings, China Vanke, CSI, China Construction Bank, Bank of, People's Bank of China, Xinhua Locations: China, Hong Kong, Bank of China

☆ CNBC Daily Open: June’s jobs report won’t stop rate hikes
▼ + stars: | 2023-07-10 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

A 'Now Hiring' sign posted outside of a restaurant looking to hire workers on May 05, 2023 in Miami, Florida. This 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. Jobs growth cooledU.S. nonfarm payrolls increased 209,000 in June while the unemployment rate was 3.6%, according to the Labor Department. Job creation was — for once — lower than economists' expectations of 240,000, though the unemployment rate, which was 0.1 percentage point lower than in May, was exactly on the mark.

Persons: nonfarm, Hong, Janet Yellen, she's Organizations: CNBC, Labor Department, Ant, PPI, Treasury, U.S, China Locations: Miami , Florida, U.S, Asia, Pacific, Alibaba . Hong Kong, China

☆ Morning Bid: Data-hit bond markets end summer lull
▼ + stars: | 2023-07-07 | by ( ) www.reuters.com time to read: +4 min

On top of that, there were signs that activity at dominant U.S. service sector firms picked up steam again last month too. Friday's release of the Labor Department's monthly national payrolls report will seal the picture. U.S. Treasury yields hit 16-year highs above 5%, German equivalents hit their highest in 15 years and British gilt yields scaled 2008 peaks. The VIX (.VIX) gauge of implied Wall St volatility - which had been peculiarly subdued right through last month - jumped to its highest since June 1. Crucially, 2-year Treasury yields edged back below 5%.

Persons: Mike Dolan, Lorie Logan, payrolls, HSI, Janet Yellen's, Elon, Lorrie Logan, Christine Lagarde, Joachim Nagel, Bank of England policymaker Catherine Mann, Emelia Sithole Organizations: readouts, Federal, Labor, Dallas Fed, Fed, Treasury, Nikkei, Twitter, Meta, Dallas Federal, Central Bank, Bank of England, NATO, Vilnius Reuters Graphics, Reuters Graphics Reuters, PMI Reuters Graphics Reuters, Thomson, Reuters Locations: U.S, China, Canada, New York, Vilnius Reuters

☆ Potential Taiwan conflict will hit these 3 countries the hardest, EIU report says
▼ + stars: | 2023-07-07 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +7 min

EIU defines a conflict as a "full-conflict scenario, involving direct military participation by China, Taiwan and the U.S." and based on the presumption of an escalation by China. To be clear, the EIU assesses the risk of a direct Chinese military assault on Taiwan as "very unlikely." The EIU also named a few "severely exposed markets": Australia, Malaysia, Thailand and Vietnam, as well as Hong Kong. In addition, both Malaysia and Vietnam would be exposed to a potential conflict with China if cross-strait hostilities spilled over and ignited a conflict in the South China Sea. The EIU said a conflict will cut off Taiwan's foundries, and at best, air and maritime links will be disrupted.

Persons: Ceng Shou Yi, Xi Jinping Organizations: Getty, Nurphoto, Economist Intelligence Unit, Nationalist, Taipei Representative, CNBC, Producers Locations: China, Taipei, Japan, Canada, India, Beijing, Taiwan, South Korea, Philippines, Taiwan Strait, U.S, Australia, New Zealand, Thailand, Singapore, Malaysia, Vietnam, Hong Kong, China . Hong Kong, British, South China, South, United Kingdom, United States, Canberra, Asia

☆ CNBC Daily Open: Brace yourself for higher rates
▼ + stars: | 2023-07-06 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Jerome Powell, chairman of the US Federal Reserve, during a Senate Banking, Housing and Urban Affairs Committee hearing in Washington, DC, US, on Thursday, June 22, 2023. This 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. More hikes, but slowerAlmost all Federal Reserve members expect more interest rate hikes at upcoming Federal Open Market Committee meetings, according to minutes of June's meeting. Prior to the June meeting, the Fed had raised rates for 10 consecutive times, with four of them being 0.75 percentage point increases.

Persons: Jerome Powell, Hong Organizations: US Federal Reserve, Banking, Housing, Urban Affairs Committee, CNBC, Federal Reserve, Treasury, Reading, Twitter Meta, Twitter Locations: Washington , DC, Asia, Pacific, Europe

☆ Stock Market Today: Dow Futures Fall; Meta Stock Rises Premarket
▼ + stars: | 2023-07-06 | by ( ) www.wsj.com time to read: +1 min

Government-bond yields rose in the U.S. and Europe, reflecting recent statements by major central banks that they will keep raising interest rates to curtail inflation. Weakening activity in the services sector is a big reason for the pressure on global markets today, said Samy Chaar, chief economist at Lombard Odier. U.S. stock futures fell. Government-bond yields rose. Yields rose in Germany, the U.K. and France, too.

Persons: Samy Chaar, ”, Dow, Hang Seng Organizations: Services, Lombard, Nasdaq, Overseas, Nikkei Locations: Government, U.S, Europe, Shanghai, Germany, France, Brent, Iran

☆ Lawyer wanted by Hong Kong says he was exercising his rights in Australia
▼ + stars: | 2023-07-06 | by ( Kirsty Needham | ) www.reuters.com time to read: +4 min

The Hong Kong police and security bureau did not immediately respond to a request for comment. Hong Kong says 260 people have been arrested under the law, 79 of them convicted for offences including subversion and terrorism. China and Hong Kong say it was necessary to restore stability in the financial hub. Yam said he started speaking out about the rule of law in Hong Kong and the crackdown because his friends were in jail. Reporting by Kirsty Needham in Sydney; Additional reporting by James Pomfret and Jessie Pang in Hong Kong; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

Persons: Kevin Yam, Yam, Mao Ning, Anthony Albanese, Hong, Ted Hui, Richard McGregor, Kirsty Needham, James Pomfret, Jessie Pang, William Mallard Organizations: SYDNEY, Hong, HK, Hong Kong, of Australia, Law Society of Hong, Lowy Institute, Thomson Locations: Australian, Hong Kong, Hong, Australia, China, Beijing, British, Law Society of Hong Kong, Sydney

☆ Stock Market Today: Dow Futures Edge Down—Live Updates
▼ + stars: | 2023-07-05 | by ( ) www.wsj.com time to read: +1 min

Stock futures slipped as data showed China’s services sector expanded slower than expected and investors awaited minutes from the Federal Reserve’s latest policy meeting. “It’s contributing to the loss of momentum and growth in Europe as well.”Coming up: The Fed’s minutes for its June meeting are due at 2 p.m. In recent market action:Stock futures slipped. Nasdaq-100 futures fell 0.4%. Hong Kong’s Hang Seng Index lost 1.6% and the Shanghai Composite Index fell 0.7%.

Persons: ”, Hani Redha, Jerome Powell, Brent Organizations: Federal, PineBridge Investments, Dow, Nasdaq, Nikkei, Treasury Locations: China, Europe, Shanghai

☆ Stock Market Today: Dow Slips, Tesla Jumps
▼ + stars: | 2023-07-03 | by ( ) www.wsj.com time to read: +1 min

That will be followed Friday with the June jobs report, which economists expect to show continued resilience in the labor market. The Nasdaq Composite was up, the S&P 500 was around flat and the Dow industrials were edging lower. The yield on the benchmark 10-year Treasury note dipped to 3.811%, from 3.818% Friday. The Shanghai Composite rose 1.3%, its largest gain in nearly two months. The international benchmark for oil climbed after Russia's Deputy Prime Minister Alexander Novak said his country would cut oil exports in August.

Persons: Tesla, Nio, Janet Yellen’s, Hang Seng, Alexander Novak, Bitcoin Organizations: Federal, Nasdaq, Dow, EV, Nikkei, Brent, Securities and Exchange Commission Locations: U.S, China, Shanghai, Saudi Arabia

NEW YORK/LONDON, June 30 (Reuters) - A lackluster IPO market is showing signs of life as a flurry of deals in the United States and Europe raise hopes that a recovery may be in sight. With investors now predicting an end to the Federal Reserve's rate hikes later this year, optimism has resumed. This allowed thrift shop chain Savers Value Village (SVV.N) to raise $401 million in its New York IPO this week, more than it originally set out to. Investors continued to snap up its shares, with the stock closing up 27% on its first day of trading. EUROPE IPOS ON THE WAYIn Europe, three IPOs are on track to be completed by early July, but two of them have already had to moderate their valuation expectations.

Persons: Aloke Gupte, Tom Swerling, Paul Abrahimzadeh, Hidroelectrica, Fondul, WE Soda, Ferretti, Coty, Andrew Briscoe, David DiPietro, Rowe Price, Echo Wang, Pablo Mayo, Elisa Martinuzzi, Mark Potter Organizations: Investors, JPMorgan Chase &, CAB, Kodiak Gas Services, Fidelis Insurance Holdings, Barclays, North America, Citigroup, U.S, Heineken, General, GE Healthcare Technologies, Bank of, Pablo Mayo Cerquiero, Thomson Locations: United States, Europe, Ukraine, New York, London, Africa, Asia, Kodiak, Fidelis, Cava, EUROPE, Romanian, Hong Kong, Milan, East

☆ Asia shares edge lower on rate hike worries, yen frail
▼ + stars: | 2023-06-30 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

China's blue-chip CSI300 Index (.CSI300) fell 0.14% and the Shanghai Composite Index (.SSEC) eased 0.11%. The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, pointing to continued labour market strength. The data "will have traders likely consider a greater likelihood of further interest rate hikes from the Fed." "We expect the moderate pace of interest rate decisions to continue." The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was at 4.872%, having touched more than a three-month high of 4.892% overnight.

Persons: Australia's, HSI, Economists, Ryan Brandham, Jerome Powell, Powell, Rob Carnell, YEN, Shunichi Suzuki, Brent, Ankur Banerjee, Stephen Coates Organizations: Federal Reserve, Japan's Nikkei, Gross, Commerce Department, Validus Risk, Federal, Treasury, U.S, Central Bank's, Bank of Japan, Japanese Finance, Thomson Locations: SINGAPORE, Asia, Pacific, Japan, China, Shanghai, North America, U.S, Spanish, Madrid

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