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☆ Asia shares pick up after Fed rate comments; oil dips
▼ + stars: | 2023-10-10 | by ( Kane Wu | ) www.reuters.com time to read: +4 min

U.S. stocks ended higher on Monday, with energy shares rising along with oil prices. The S&P 500 energy index (.SPNY) ended up 3.5%. Oil prices eased after climbing more than 4% on Monday. "The unrest and volatility in the near-term suggest that upside risks to oil prices will persist," said OCBC economists in a note. This will lead to some volatility in oil prices during intense periods of conflict but should see prices normalize, following the knee-jerk reaction."

Persons: Androniki, Kerry Craig, Australia's, Brent, Kane Wu, Stella Qiu, Edmund Klamanhn, Kim Coghill Organizations: Nikkei, REUTERS, dovish, Top Fed, Hamas, Asset Management, Garden Holdings, HK, National Bank of Australia, U.S, West Texas, Thomson Locations: Tokyo, Japan, HONG KONG, East, Europe, U.S, Asia Pacific, China, Israel, Palestinian, Gaza, Hong Kong, Sydney

☆ Asia shares rise after Fed comments, markets' eyes on Middle East
▼ + stars: | 2023-10-10 | by ( Kane Wu | ) www.reuters.com time to read: +3 min

MSCI's gauge of Asia Pacific stocks outside Japan (.MIAPJ0000PUS) was up 1.2% at 0135 GMT. Japan's benchmark Nikkei average (.N225) rose 2.4% while Australia's S&P/ASX 200 (.AXJO) rose for a fourth straight session to gain 1.2%. Top Fed officials indicated on Monday that rising Treasury yields could steer the Fed from further rate increases, helping to spur a rise in bond prices after those markets had been closed the previous day in the U.S. and Tokyo. The markets' initial reaction to the major geopolitical developments in the Middle East was a bout of risk aversion, analysts from National Bank of Australia said in a note. Ten-year Treasury yields , which have been surging, fell more than 13 basis points to 4.6% at the open in Tokyo as bond prices rallied after Monday's holiday.

Persons: Androniki, Australia's, Kerry Craig, Brent, Kane Wu, Stella Qiu, Edmund Klamanhn Organizations: Nikkei, REUTERS, dovish, Top Fed, Tokyo ., Hamas, Asset Management, Garden Holdings, HK, National Bank of Australia, U.S, West Texas, Thomson Locations: Tokyo, Japan, HONG KONG, Asia Pacific, U.S, Israel, Palestinian, Gaza, Hong Kong, Sydney

Signage at a residential project developed by Country Garden Holdings Co. in Baoding, Hebei province, China, on Tuesday, Aug. 1, 2023. Chinese real estate developer Country Garden Holdings said it expects it will not be able to make all of its offshore repayments, including those issued in U.S. dollar notes. Country Garden warned that this could lead to creditors demanding faster repayments of debt or pursuing enforcement action. Looking ahead, the company expects uncertainty in its liquidity position and asset sales in the short and medium term amid a lack of material, industry-wide improvement in property sales. Chinese property giants such as Evergrande and Country Garden have been plagued by debt problems, hurting consumer confidence in the sector.

Organizations: Country Garden Holdings Co, Garden Holdings, Hong Kong Locations: Baoding, Hebei province, China

☆ Asia markets poised for rise as markets shake off pressures from Hamas attack
▼ + stars: | 2023-10-10 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Asia-Pacific markets are set to rise across the board, as markets rally despite pressures from the attack on Israel by Palestinian militant group Hamas. In Australia, the S&P/ASX 200 climbed 0.83% in early trade, extending gains from Monday and moving above the 7,000 mark. South Korea's Kospi rose 1.05%, but the Kosdaq bucked the wider trend, falling 0.14%. Futures for Hong Kong's Hang Seng index stood at 17,658, pointing to a positive open compared with the HSI's close of 17,517.4. Hong Kong experienced a shortened trading day of just two hours Monday after the city canceled its morning session due to a typhoon warning.

Organizations: Hamas, Nikkei Locations: Asia, Pacific, Israel, Palestinian, Australia, Hong Kong

HONG KONG (AP) — Chinese property developer Country Garden warned Tuesday that it cannot repay on time a 470 million Hong Kong dollar ($60 million) loan in the latest sign of distress after Beijing clamped down on mounting debts in the industry. The company said its sales were under “remarkable pressure.”Country Garden earlier had been hailed as a model real estate company by Chinese authorities. Country Garden's sales slumped nearly 44% in January-September from the same period a year earlier, the company said. Since there has not been an industry-wide improvement in property sales, Country Garden said “its liquidity position is expected to remain very tight in the short- to medium-term.”However the company is still finishing and delivering residential housing. Country Garden had more than $180 billion in liabilities as of June.

Persons: Evergrande Organizations: Hong Kong, Hong Kong Stock Exchange, China Minsheng Banking Corporation, Hong, Industrial & Commercial Bank of China Locations: HONG KONG, Beijing, China, Hong Kong

☆ Hong Kong's Hang Seng index rises 2%, leading gains in Asia ahead of key U.S. jobs report
▼ + stars: | 2023-10-06 | by ( Lee Ying Shan | ) www.cnbc.com time to read: 1 min

Hong Kong's Hang Seng index jumped over 2%, leading gains in the wider Asia-Pacific region as investors look ahead to U.S. jobs data that could set the tone for the Federal Reserve's next move for interest rates. The index was last trading 2.1% higher. Australia's S&P/ASX 200 traded 0.34% higher. South Korea's Kospi added 0.53% and the Kosdaq rose 0.98% in its first hour of trade. In Japan, the Nikkei 225 and Topix slipped 0.14% and 0.09% respectively.

Persons: Topix Organizations: Federal, Nikkei Locations: Asia, Pacific, Japan

☆ CNBC Daily Open: The September jobs report is key
▼ + stars: | 2023-10-06 | 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. Bracing for the jobs reportU.S. stocks dipped slightly Thursday as investors braced for the September job report coming out today. JPMorgan Chase's Marko Kolanovic thinks the S&P 500 might be slammed by a 20% sell-off if high interest rates persist. In other words, the gap between cheap and expensive stocks is larger than usual — which gives value investors a "tremendous opportunity."

Persons: Hong, Tencent, JPMorgan Chase's Marko Kolanovic, I'm, Bill Nygren, Nygren Organizations: CNBC, Treasury, Administration, European Union Chamber of Commerce Locations: Asia, Pacific, China

☆ Asian shares come off 11-month lows as Treasuries rally
▼ + stars: | 2023-10-05 | by ( Stella Qiu | ) www.reuters.com time to read: +3 min

REUTERS/Issei Kato/File Photo Acquire Licensing RightsSYDNEY, Oct 5 (Reuters) - Asian shares rebounded from 11-month lows on Thursday as a plunge in oil prices and softer U.S. labour data helped pull Treasury yields off 16-year peaks, although a looming U.S. payrolls report could make or break the rally. Tracking overnight gains on Wall Street, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 0.6%. Ten-year yields eased 2 basis points to 4.7163% on Thursday, continuing their overnight retreat from a fresh 16-year high of 4.8840%. "Given where Treasury yields are at the moment, I think the risks are pretty evenly balanced between them on the downside and on the upside." Brent crude futures rose 0.3% to $86.10 per barrel and U.S. West Texas Intermediate crude futures were also up 0.3% at $84.45.

Persons: Issei Kato, Stephen Miller, Joseph Capurso, Stella Qiu, Edwina Gibbs Organizations: Nikkei, REUTERS, Rights, Japan's Nikkei, Treasury, Fed, U.S ., Nasdaq, Traders, CBA, Brent, . West Texas, Thomson Locations: Tokyo, Japan, U.S, Asia, Pacific, Treasuries, Sydney

TOKYO (AP) — Asian shares advanced Thursday after a plunge in oil prices aided a recovery on Wall Street. Market sentiment was helped by a $5 decline in oil prices on Wednesday, although prices recovered slightly in Asian trading. Oil prices fell after the Energy Information Administration reported a 4.6 million barrel increase in commercial petroleum products. Stocks have struggled since the summer under the weight of soaring Treasury yields in the bond market. Treasury yields have correspondingly snapped higher as traders accept a new normal for markets of high rates for longer.

Persons: Sydney's, Kospi, Brent, that's, Kevin McCarthy Organizations: TOKYO, Trading, Nikkei, Energy Information Administration, Dow, Nasdaq, Stocks, Treasury, Federal Reserve, U.S, Representatives, Big Tech, Microsoft, U.S . Locations: Tokyo, Sydney, Hong Kong, Shanghai, South, U.S

☆ Asia-Pacific stocks fall as U.S. 10-year Treasury yield notches 16-year high
▼ + stars: | 2023-10-04 | by ( Lee Ying Shan | ) www.cnbc.com time to read: 1 min

Mount Fuji and buildings in the Shinjuku district are reflected on a table at an observation deck in Tokyo, Japan, on December 24, 2013. Asia-Pacific markets opened lower after the U.S. 10-year Treasury yield hit its highest level in 16 years. In Japan, Nikkei 225 dropped 1.45% in its first hour of trade, while the Topix was 1.31% lower. South Korea's Kospi fell 1.19% and the Kosdaq slipped 1.17% after coming back from holiday. Hong Kong's Hang Seng index is similarly poised for a dip with futures at 17,322 compared to the HSI's close of 17,331.22.

Persons: Australia's, Korea's Kospi Organizations: Mount, Treasury, Nikkei Locations: Mount Fuji, Shinjuku, Tokyo, Japan, Asia, Pacific

☆ Asian stocks slip on rate worries, yen in focus
▼ + stars: | 2023-10-03 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

U.S. Federal Reserve officials said that monetary policy will need to stay restrictive for "some time" to bring inflation back down to the Fed's 2% target. Still, the hawkish rhetoric from the Fed officials comes as an ongoing debate over another possible rate hike this year rages on. "If it were down to us, we would wait for another month of rising inflation and the third-quarter inflation numbers. The yen was last at 149.83 per U.S. dollar in Asian hours, having scaled a fresh near 12-month low of 149.895 earlier in the session. The dollar index , which measures the U.S currency against six major rivals, rose 0.093% to scale a fresh 10-month peak.

Persons: Hong, Michelle Bowman, Rob Carnell, Shunichi Suzuki, Brent, Ankur Banerjee, Jamie Freed Organizations: Federal Reserve, Japan's Nikkei, . Federal, Fed, Reserve Bank of, Reuters, ING, Japanese Finance, Thomson Locations: SINGAPORE, Asia, Pacific, Japan, Reserve Bank of Australia

☆ Hong Kong shares drop 3%, dragged down by real estate and energy
▼ + stars: | 2023-10-03 | by ( Lee Ying Shan | ) www.cnbc.com time to read: 1 min

An urban view of high-rise buildings at dusk as seen from Hong Kong's Victoria Peak. Hong Kong's Hang Seng Index dropped more than 3% Tuesday, dragged by its real estate and energy sectors. The benchmark index's loss of over 500 points is a significant decline, Everbright Securities' Kenny Ng told CNBC via e-mail. "Additionally, the US dollar index has remained relatively strong, exerting downward pressure on the Hong Kong stock market." The index was last trading down 3.16% after coming back from a holiday on Monday.

Persons: Kenny Ng, Ng Organizations: Everbright Securities, CNBC, Hong Locations: Hong, Victoria, Hong Kong

☆ Embattled Chinese property firm Evergrande up 20% after trading resumes in Hong Kong
▼ + stars: | 2023-10-03 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

Evergrande's market valuation has been hovering around 5 billion Hong Kong dollars ($639.8 million), a fraction of its value prior to the developer's default in late 2021. The stock rose 20.31% after briefly touching 46 Hong Kong cents shortly after the open. Other Hong Kong listed property stocks were firmly in the red. Country Garden Holdings plunged 7.67%, while Longfor Group Holdings lost 4.82%. China's property market has faced faltering consumer confidence, with Evergrande and Country Garden steeped in debt problems.

Persons: Hui Ka Yan, Evergrande Organizations: Hong Kong, Company, Hong, Garden Holdings, Longfor, Holdings, Henderson Land Development Locations: Nanchuan, Xining, Qinghai province, China, Hong Kong

☆ Hong Kong stocks have worst day in three months on worries about rates and real estate
▼ + stars: | 2023-10-03 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —Stocks in Hong Kong suffered their worst day in three months on Tuesday on growing concern about China’s weak housing market and persistently high US interest rates. Real estate stocks were once again among the heaviest losers in Hong Kong. Country Garden, one of the country’s largest property developers, sank 4.4%. Market sentiment was also weighed down by concerns that US interest rates could stay elevated after US Treasury yields hit a 16-year high. Yields on the 10-year US Treasury, which are considered a proxy for US interest rates, reached 4.7% on Monday, the highest since 2007.

Persons: Xu Jiayin, Nomura, “, JPMorgan Chase, Jamie Dimon, ”, Stephen Innes Organizations: Hong Kong CNN —, Energy Vehicle, Evergrande, Estate Information Corporation, Treasury, JPMorgan, Reserve, Federal, Nikkei Locations: Hong Kong, Beijing, Washington, Real, Shanghai, China, Asia

The regional Stoxx 600 index ended down 1.1%, with all sectors and major bourses in negative territory. The debt-heavy utilities sector dropped 2.7% with higher-for-longer rates in focus, while mining stocks were down 2.6%. In Asia-Pacific markets overnight, Hong Kong stocks fell about 3%, leading wider losses in the region. U.S. stocks were lower as traders closely monitored rising Treasury yields, which hit a 16-year high. The 10-year Treasury yield, a benchmark for mortgage rates and guage of investors' economic confidence, briefly touched its highest level since 2007.

Persons: Stocks Organizations: Treasury Locations: Asia, Pacific, Hong Kong, .

☆ Asia-Pacific stocks fall ahead of Australian central bank rate decision
▼ + stars: | 2023-10-03 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

The full moon, otherwise known as a strawberry supermoon, is seen over the Skyline of the CBD in Sydney, Australia June 15, 2022. Asia-Pacific markets fell ahead of a rate decision by the Reserve Bank of Australia. In Australia, the S&P/ASX 200 was trading down 1.1% ahead of an RBA meeting, where the central bank is expected to hold rates at 4.10%, according to a Reuters poll. In Japan, the Nikkei 225 was down 0.63% in its first hour of trade. The Nasdaq Composite added 0.67% to close at 13,307.77— CNBC's Hakyung Kim and Alex Harring contributed to this report.

Persons: Hakyung Kim, Alex Harring Organizations: Skyline, Reserve Bank of Australia, Nikkei, Dow Jones, Nasdaq Locations: Sydney, Australia, Asia, Pacific, Japan, U.S

NEW YORK (AP) — Wall Street is sinking sharply Tuesday as it focuses on the downside of a surprisingly strong job market. Stocks fell as the pressure on them cranked even higher from rising Treasury yields in the bond market. Tuesday's report on the U.S. job market could give the Fed more reason to keep rates high. They and other high-growth stocks are seen as some of the biggest victims of high interest rates. The resumption of student-loan repayments could drag on spending by U.S. households, which has been strong enough to help keep the economy out of a recession despite high interest rates.

Persons: Stocks, Michelle Bowman, ”, Yung, Yu Ma, McCormick, China Evergrande, Eli Lilly, Brent, Matt Ott, Elaine Kurtenbach Organizations: Dow Jones, Nasdaq, Treasury, Federal Reserve, Fed, BMO Wealth Management, Big Tech, Microsoft, Nvidia, Nikkei, AP Business Locations: Wall, China, South Korea, Europe

☆ CNBC Daily Open: Long-term prospects are uncertain
▼ + stars: | 2023-09-29 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

People walk outside of the New York Stock Exchange (NYSE) in the financial district in Manhattan on June 14, 2022 in New York City. 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. Big population but small labor forceEven though India's population of 1.428 billion has surpassed that of China's, according to UN estimates, the country's labor force is only at 51%, trailing behind China's 75%. When that happens, this simple bond trade can earn you 40% in returns, said investment analysts.

Persons: Hong, Bill Ackman, Rick Rieder, Katie Koch Organizations: New York Stock Exchange, CNBC, Nikkei, Alpha, Pershing, Capital Management, Treasury, BlackRock, Federal, TCW, China's, Oxford Economics Locations: Manhattan, New York City, Asia, Pacific, Tokyo, U.S, China

☆ Asian stocks inch away from 10-month low, rate jitters linger
▼ + stars: | 2023-09-29 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

A passerby walks past an electric monitor displaying various countries' stock price index outside a bank in Tokyo, Japan, March 22, 2023. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 0.59% higher but not far off the 10-month low it touched on Thursday. The index is set for 5% drop in the July-September period, its worst quarterly performance since a 13.6% drop in the same period last year. In foreign exchange market, the dollar index eased 0.057% to 106.10 but hovered near the 10 month high of 106.84 it touched earlier this week. The index is up 2.4% this month and set for second straight month of gains.

Persons: Issei Kato, Australia's, Jerome, Powell, Ryan Brandham, Thomas Barkin, Brent, Ankur Banerjee, Lincoln Organizations: REUTERS, Rights, Japan's Nikkei, China Evergrande, HK, Validus Risk, Federal, Federal Reserve Bank of Richmond, Thomson Locations: Tokyo, Japan, Rights SINGAPORE, Asia, Pacific, China, U.S, North America, Russia, Saudi Arabia, Singapore

☆ Asia markets slide as oil and Treasury yields climb
▼ + stars: | 2023-09-28 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Hong Kong Spreephoto.de | Moment | Getty ImagesAsia-Pacific markets fell after notching some gains on Wednesday as an uptick in Treasury yields and oil prices dented investor sentiment on Wall Street. The benchmark 10-year U.S. Treasury yield hit its highest levels since 2007 and U.S. crude futures popped more than 3% to settle at $93.68 per barrel. Japan's Nikkei 225 slipped 1% in early trade, while the Topix saw a larger loss of 1.05% on Thursday morning. Futures for Hong Kong's Hang Seng index stood at 17,582, also pointing to a weaker open compared with the HSI's close of 17,611.87. South Korea's markets are closed for a public holiday.

Persons: Australia's Organizations: Treasury, Nikkei Locations: Hong Kong, Asia, Pacific

☆ Asia markets poised for mixed open ahead of China industrial data and Australian inflation figures
▼ + stars: | 2023-09-27 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Australia's weighted inflation rate is expected to rise 5.2% year on year in August, a predicted rebound from three straight months of decline. Asia-Pacific markets are set for a mixed open ahead of China's industrial data and Australia's August inflation figures due on Wednesday. Futures for the S&P/ASX 200 point to a stronger open for the index, at 7,046 compared to the last close of 7,038.2. Hong Kong's Hang Seng index also is set for a positive open, with futures at 17,477, compared to the HSI's close of 17,466.9. Should the index follow the futures contract, this would be this first time the Nikkei falls below the 32,000 mark in over a month.

Organizations: Nikkei Locations: Asia, Pacific, Hong, Chicago, Osaka

☆ Asia stocks mixed as investors grapple with higher rates
▼ + stars: | 2023-09-27 | by ( Julie Zhu | ) www.reuters.com time to read: +4 min

REUTERS/Issei Kato/File photo Acquire Licensing RightsHONG KONG, Sept 27 (Reuters) - Asia stocks traded mixed on Wednesday and benchmark U.S. Treasury yields were near multi-year highs, as investors sour on both stocks and bonds amid worries about the impact of higher-for-longer interest rates. The Japanese yen remained weak versus the greenback at 149.06 per dollar. Higher U.S. Treasury yields and recent dovish comments from Bank of Japan (BoJ) officials have weighed on USD/JPY," CBA analysts said in a note. In treasuries, benchmark 10-year Treasury yields have climbed to 16-year highs in the wake of the Federal Reserve's hawkish longer-term rate outlook last week. The two-year yield , which rises with traders' expectations of higher Fed fund rates, touched 5.0603% compared with a U.S. close of 5.077%.

Persons: Issei Kato, Dow, Shunichi Suzuki, Brent, Jamie Freed Organizations: U.S, REUTERS, Treasury, Bank, Japan's Nikkei, Federal Reserve, Dow Jones, Nasdaq, Finance, Higher U.S, Bank of Japan, CBA, Thomson Locations: Tokyo, Japan, HONG KONG, Asia, Australia, Thailand, Pacific

HONG KONG, Sept 26 (Reuters Breakingviews) - Global banks in Hong Kong are feeding on scraps. Bankers in Hong Kong are working on smaller issuances than they typically took on in the past, Dealogic data shows. Among the bigger ones in the works, courier SF Holding (002352.SZ) has filed for a secondary listing in Hong Kong and may raise up to $3 billion, per IFR. Fees on Indian deals are tiny, for example, and costs in Hong Kong are high. Overall investment banking fees in Hong Kong are set to come in at the lowest level in a decade too, Dealogic data shows, with HBSC top of the table.

Persons: Morgan Stanley, Debtwire, Una Galani, Pranav Kiran Organizations: Reuters, UBS, Bank of America, Bankers, HK, SF, Thomson Locations: HONG KONG, Hong Kong, New York, Swiss, United States, China, brimming, Shenzhen, Asia, India, U.S, Asia Pacific, Japan

☆ CNBC Daily Open: Has the BOJ been ambiguous in its communication?
▼ + stars: | 2023-09-26 | by ( Clement Tan | ) www.cnbc.com time to read: +4 min

Javier Ghersi | 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. Korea's Kospi slumped 1.2% to multi-month lows, while the Hang Seng Index slipped 0.9% to lows last seen in August. [PRO] Luxury playsBank of America upgraded three luxury stocks that are bucking the negative trends afflicting the broader sector in Europe. Is his professorial tendency to think aloud and entertain various scenarios getting in the way of clearer market communication?

Persons: Javier Ghersi, Korea's Kospi, Bob Smith, Dave Limp, Smith, Kazuo Ueda, Ueda, Stanley Fischer, bank's Organizations: CNBC, Treasury, Amazon, Blue Origin, European, Coy, Huawei, Luxury, Bank of America, Bank, Japan, Yomiuri Shimbun, Massachusetts Institute of Technology, Reading Locations: Japan, Asia, Europe, Osaka

☆ Asia markets largely fall despite Wall Street rally
▼ + stars: | 2023-09-26 | 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 largely fell despite a broad rebound on Wall Street and Moody's warning that a U.S. government shutdown would be "credit negative" for the world's largest economy. The country's wholesale inflation for its services sector climbed 2.1% year on year, its fastest rate of increase since September 2022. In Australia, the S&P/ASX 200 also shed 0.29% as traders look toward its key consumer price index reading on Wednesday. Hong Kong's Hang Seng index is also set for a positive open, standing at 17,744 compared to the HSI's close of 17,729.29.

Organizations: Nikkei Locations: Suzhou, Shanghai, China, Asia, Pacific, U.S, Australia, South Korea

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