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☆ LG Energy Solution Q1 profit more than doubles, in line with forecast
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +1 min

SEOUL, April 26 (Reuters) - South Korea's LG Energy Solution (373220.KS) on Wednesday posted a 145% jump in quarterly profit, as the battery maker factored in subsidies from the U.S. Inflation Reduction Act and solid sales of electric vehicles (EVs) in U.S. and European markets. The company, which supplies Tesla Inc (TSLA.O), General Motors Co (GM.N) and others, reported an operating profit of 633 billion won ($472.6 million) for the January-March period, versus 259 billion won a year earlier. That compared with an average analyst forecast of 633 billion won compiled by Refinitiv SmartEstimate. Revenue for the quarter rose 101% to 8.7 trillion won, LG Energy said in a regulatory filing. Shares of LG Energy Solution was trading up 0.7%, versus benchmark KOSPI's (.KS11) 0.1% rise as of 0044 GMT.

☆ Hong Kong falls 2%, leading losses in Asia as investors await Big Tech earnings
▼ + stars: | 2023-04-25 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Hong Kong markets led losses in Asia on Tuesday, with the Hang Seng sliding 1.97% as Asian stocks largely fell ahead of earnings from Big Tech firms. The Hang Seng Tech index saw a larger loss, tumbling 4% as technology stocks led losses on the HSI. Alphabet, Microsoft, Amazon and Meta are among the high-interest names scheduled to announce their results for the first quarter. "Everyone's just waiting for tech earnings," said Chris Harvey, head of equity strategy at Wells Fargo Securities. "This is a very, very busy week for earnings, so we're just treading water."

☆ Asia-Pacific markets open mixed after Wall Street posts weekly loss
▼ + stars: | 2023-04-24 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

People picnic on the green roof of Marina Barrage in Singapore on Oct. 10, 2022. Asia-Pacific markets are trading mixed on Monday, ahead of a busy week of key economic releases in the region. Japanese markets were all higher, with the Nikkei 225 and the Topix both higher by 0.2%. In Australia, the S&P/ASX 200 fell 0.26%, while South Korea's Kospi slid 0.37% and the Kosdaq was slightly above the flatline. Some Southeast Asian markets are closed today for a holiday, including Singapore, Malaysia and Indonesia.

☆ Asia Pacific markets mixed as Japan's core inflation holds steady
▼ + stars: | 2023-04-21 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

A man pushes a trolley across a street in the Kowloon district of Hong Kong on November 22, 2022. Asia-Pacific markets traded mixed on Friday as Japan's core inflation for March came in at 3.1%, unchanged from February, data from the Statistics Bureau showed. This is the second straight month of slowing inflation after Japan's headline inflation hit a 41-year high of 4.3% in January. Private surveys for Japan and Australia's purchasing manager's index showed that factory activity in both countries continued to expand, powered by their respective services sectors. Hong Kong will also release its inflation data for March, which is expected to come in at 1.8%.

☆ Asia markets to open mixed as investors weigh more Wall Street earnings
▼ + stars: | 2023-04-20 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Asia-Pacific markets are largely lower on Thursday as investors on Wall Street digest more earnings reports from names like Netflix, IBM and Morgan Stanley. While many of the companies reporting topped analysts' low-bar estimates, a lack of forecasts from the major companies also left investors on edge. Japan's Nikkei 225 lost 0.5% in early trade, and the Topix also shed 0.54% as Japan's trade deficit hit a record high of 21.7 trillion yen ($161.14 billion) for its full year ending March. In Australia, the S&P/ASX 200 started the day marginally higher, while South Korea's Kospi slid 0.48% and the Kosdaq dipped 0.7%. Hong Kong's Hang Seng Index looks set for a positive open, with Hang Seng futures trading at 20,402, higher than the index's last close of 20,367.76.

Asia-Pacific markets traded mixed on Wednesday as Wall Street's earnings season continued and U.S. Federal Reserve officials delivered mixed signals on future rate hikes. Atlanta Federal Reserve President Raphael Bostic told CNBC that he sees one more rate hike of 25 basis points, before pausing to see its impact on the economy. This would take the U.S. Federal Funds rate to 5% to 5.25%. Bostic's words come as St. Louis Federal Reserve President James Bullard told Reuters that he favors a higher terminal rate of between 5.50% and 5.75%. Australia's S&P/ASX 200 was 0.11% up in early trading, while Japan's Nikkei 225 dipped 0.27% and the Topix fell 0.3%.

☆ Asia markets mostly rise ahead of U.S. inflation report, bank earnings
▼ + stars: | 2023-04-12 | by ( Jihye Lee | ) www.cnbc.com time to read: +1 min

Sydney Harbour taking in the Harbour Bridge, Opera House and ferries at sunrise during the COVID-19 pandemic on April 20, 2020 in Sydney, Australia. Markets in the Asia-Pacific mostly rose on Wednesday as investors await key U.S. inflation data that will determine the Federal Reserve's path forward in its tightening cycle. Economists polled by Dow Jones expect a 6% year-over-year increase in the U.S. consumer price index. New York Fed President John Williams emphasized in an interview with Yahoo Finance overnight that the central bank will remain "data dependent." In Japan, the Nikkei 225 rose 0.4% and the Topix gained 0.6% as traders further digested Japan's producer price index and machinery orders report.

☆ Hyundai Motor Group to invest $18 bln in South Korean EV industry by 2030
▼ + stars: | 2023-04-11 | by ( Heekyong Yang | ) www.reuters.com time to read: +2 min

SEOUL, April 11 (Reuters) - Hyundai Motor Group said on Tuesday it planned to invest 24 trillion won ($18.14 billion) in South Korea's electric vehicle (EV) industry through 2030, bolstering its presence in a segment that is set to dominate long-term global automotive demand. The investment plan by the group, which includes Hyundai Motor Co (005380.KS), Kia Corp (000270.KS) and Hyundai Mobis Co Ltd (012330.KS), came as President Yoon Suk Yeol attended a groundbreaking ceremony for Kia's first designated electric vehicle plant. It added that the government would expand tax benefits for domestic EV facility investment for a five-fold boost in production capacity by 2030. The South Korean auto group said last year it would invest more than $10 billion in the United States by 2025 to enhance collaboration with U.S. firms in advanced technology. Shares of Kia and Hyundai Motor closed up 4.9% and 3.3%, respectively, on Tuesday versus a rise of 1.4% in the benchmark KOSPI (.KS11) index.

☆ Morning Bid: Asia stocks bounce as dovish central banks lift the mood
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +2 min

A look at the day ahead in European and global markets from Kevin Buckland. The local stock price reaction was muted though: Hong Kong's Hang Seng was up 0.9% while mainland benchmarks were flat. Bitcoin, meanwhile, soared as high as $30,438 in Asia for the first time in 10 months, smashing out of recent ranges. Europe returns to trading with very little on the economic calendar aside from euro zone retail sales for February and the Sentix business survey. Reuters Graphics Reuters GraphicsKey developments that could influence markets on Tuesday:Sentix indexEuro zone retail salesFirst Republic financial resultsReporting by Kevin Buckland; Editing by Edmund KlamannOur Standards: The Thomson Reuters Trust Principles.

☆ Bank of Korea holds rates at 3.5%; Asia markets rise
▼ + stars: | 2023-04-11 | by ( Jihye Lee | ) www.cnbc.com time to read: 1 min

Stocks in the Asia-Pacific rose on Tuesday as the Bank of Korea held interest rates at 3.5%, in line with expectations. Economists polled by Reuters were expecting the central bank to hold rates for second consecutive time as the nation grapples with an inflation rate of 4.2%. In Japan, the Nikkei 225 rose 0.97% in its first hour of trade and the Topix gained 0.6%. China's inflation figures will be released as well, with Reuters expecting to see a 1% rise in its consumer price index compared to a year ago and no change month-on-month. China's producer price index is forecast to see a drop of 2.5% after seeing a decline of 1.4% in the previous month year-on-year.

☆ Asia markets mostly rise as investors come back from long weekend
▼ + stars: | 2023-04-10 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

MUMBAI, MAHARASHTRA, INDIA - 2022/10/06: People are seen taking photos of the City of Mumbai skyline. (Photo by Ashish Vaishnav/SOPA Images/LightRocket via Getty Images)Asia-Pacific markets were mostly higher on Monday as some investors returned from a long Easter weekend. Japan's Nikkei 225 opened 0.65% higher, with the Topix seeing a larger gain of 0.8%. Australian and Hong Kong markets remained closed due to a four day Easter holiday till Monday. India will release its fiscal deficit figures for March, as well as its March trade data, while Indonesia's retail sales for February will also be out.

☆ S.Korea's Yoon calls strategy meeting to boost chip, battery sectors
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +1 min

SEOUL, April 10 (Reuters) - South Korean President Yoon Suk Yeol ordered on Monday a national strategy meeting to boost the competitiveness of the country's rechargeable battery and semiconductor sectors, a presidential spokesperson said. South Korea's economy, heavily dependent on trade and chip exports, has been decelerating in the face of a weakening global economy and still-sluggish demand from neighbouring China. Local consumers are also holding back on spending after interest rate rises. South Korean battery and chip shares rallied in early trade on Monday. Reporting by Choonsik Yoo and Hyunsu Yim; Editing by Tom Hogue and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

☆ Asia markets rise in muted session as most markets closed for holiday
▼ + stars: | 2023-04-07 | by ( Jihye Lee | ) www.cnbc.com time to read: 1 min

Aerial view of the capital city of Seoul in South Korea, seen at sunset. Stocks in Tokyo and Seoul traded higher on Friday in a muted session as most markets are closed for a holiday in the wider Asia-Pacific region. The Nikkei 225 in Japan rose 0.27% and the Topix gained 0.4%. In South Korea, the Kospi gained 1% and the Kosdaq rose 0.74%Australia, Hong Kong, mainland China, Singapore and India are closed.

☆ Asian stocks slide, bond yields depressed as recession worries weigh
▼ + stars: | 2023-04-06 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

The Asia-wide index had surged more than 5% since mid-March to close at a 1 1/2-month high on Tuesday. E-mini futures for the broader S&P 500 indicated a 0.24% decline at the reopen, extending Wednesday's 0.25% slide. As signs have built this week for a sharp U.S. slowdown, traders have been pricing for a more dovish Fed. That helped the yen, which is highly sensitive to U.S. yields, gain against fellow safe haven the greenback. The dollar index rose 0.12% to 101.99, continuing its bounce from a two-month low.

☆ Asia markets trade mixed; India expected to raise repo rates
▼ + stars: | 2023-04-06 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

The Reserve Bank of India (RBI) logo is displayed outside of the bank's headquarters in Mumbai, India, on Tuesday, Aug. 9, 2011. Asia-Pacific markets were mixed on Thursday as Wall Street digested the latest ADP private payrolls report, which showed slowing job growth in March. India's central bank is also expected to raise its repurchase rate by 25 basis points to 6.75%, according to economists polled by Reuters. Hong Kong's Hang Seng index, looked set to trade higher, with Hang Seng futures at 20,421 compared to Tuesday's close of 20,274.59. Japan will release data for its household spending for February, and China will see private surveys on its services sector activity as well.

Commercial and residential buildings at dusk in Tokyo, Japan, on Wednesday, Feb. 8, 2023. Asia-Pacific markets were mixed on Wednesday as Wall Street digested a key U.S. labor report that showed job openings dropped to their lowest level in nearly two years in February. In Australia, the S&P/ASX 200 was up marginally, while Japanese markets saw larger losses. The Nikkei 225 slid 0.65%, while the Topix lost 0.85%. Mainland Chinese and Hong Kong markets are closed for a holiday.

☆ Asia markets rise ahead of Australia's central bank interest rate decision
▼ + stars: | 2023-04-04 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Reserve Bank of Australia (RBA) at the central bank's building in Sydney, Australia on May 2, 2022. Asia-Pacific markets rose on Tuesday ahead of a Reserve Bank of Australia's interest rate hike decision, with economists almost evenly spilt on whether the RBA will pause or continue its hiking cycle. According to a Reuters poll of 37 economists, 16 expect a rate hike from the current interest rate level of 3.6% to 3.85%, while 21 expect the bank to hold rates. South Korea's Kospi was 0.57% up, while the Kosdaq index was 0.36% higher. In Hong Kong, Hang Seng index futures were at 20,462, higher than the index's last close of 20,409.18.

☆ Morning Bid: Markets exhale after OPEC+ shock; RBA hits pause
▼ + stars: | 2023-04-04 | by ( Kevin Buckland | ) www.reuters.com time to read: +2 min

Crude oil continued to tick up, but not at Monday's pace, with Brent a little over $85. Money markets lay 2:1 odds for the Fed to hike by another quarter point over a pause at their next meeting in a month from now. By contrast, the European Central Bank is seen as almost certain to tighten by a quarter point at its meeting around the same time. The Reserve Bank of Australia, for its part, decided to press pause on its year-long rate hiking campaign - as most economists had predicted - amid signs that inflation may have peaked. China has been for the first time keeping at least one nuclear-armed ballistic missile submarine constantly at sea, according to a Pentagon report.

☆ Asia markets rise as oil surges after surprise OPEC+ cut; investors digest factory data
▼ + stars: | 2023-04-03 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Aerial view of oil and gas jack-up rig at the yard for maintenance with many vessels in Singapore. Asia-Pacific markets largely rose on Monday as investors further digested key manufacturing data in the region. Brent crude futures and U.S. West Texas Intermediate crude futures (WTI) surged as much as 8% after OPEC+ members agreed to cut more than 1 million barrels per day to extend through the end of 2023. Australia's S&P/ASX 200 rose 0.66%, while in Japan, the Nikkei 225 opened 0.5% higher and the Topix rose 0.57%. On the other hand, the Hang Seng index looks to trade lower, with Hang Seng futures standing at 20,353 compared to the index's last close of 20,400.

☆ Morning Bid: A holiday kickoff to the second quarter, and a US jobs report
▼ + stars: | 2023-04-02 | by ( Alden Bentley | ) www.reuters.com time to read: +3 min

April 3 (Reuters) - A look at the day ahead in Asian markets from Alden Bentley. Asia's data calendar across the rest of the week otherwise looks fairly tame and the main economic event for global markets will be U.S. payrolls data on Friday. So given the number of markets that are closed on, or before, Friday, the week could bring surprises of a pleasant, or not pleasant, variety. But any surprise headlines, be they OPEC or bank related, will have to be digested by thinned markets, which can bring excessive market swings. This week will bring CPI releases from Indonesia on Monday, South Korea on Tuesday and Thailand and the Philippines on Wednesday.

☆ Asia-Pacific markets rise after Wall Street continues to see eased banking concerns
▼ + stars: | 2023-03-31 | by ( Jihye Lee | ) www.cnbc.com time to read: 1 min

Markets in the Asia-Pacific are set to trade higher on Friday as investors on Wall Street continued to shake off concerns of a further banking crisis. Markets also looked ahead to the U.S. personal consumption expenditure price index, the Federal Reserve's preferred measure of inflation, which is slated for release later in the day. In Australia, the S&P/ASX 200 rose 0.%73 in its first hour of trade. The Nikkei 225 rose 1.12% and the Topix rose 1.07% as Tokyo's inflation print continued to show lower levels from its recent peak of 4.3% seen in December. Hang Seng futures also pointed to a higher open at 20,563 against the index 's last close at 20,309.13.

Hong Kong island and Victoria Harbour cityscape, viewed from Victoria Peak. In the foreground, the Bank of China tower and Cheung Kong Center skyscrapers. Asia-Pacific markets were trading mixed on Thursday with Hong Kong looking to extend its gains. On Wednesday, Hong Kong markets gained over 2%, led by China's tech giant Alibaba on news of its major shakeup. South Korea's Kospi was up fractionally, while the Kosdaq index gained 0.54%.

Chinese technology stocks such as Alibaba and Tencent have been hammered in 2022 as regulatory pressure and a slowing Chinese economy weighed on growth. But investors are starting to feel slightly more optimistic toward Chinese tech giants in 2023. Asia-Pacific markets were mixed on Wednesday as investors will keenly watch Alibaba's Hong Kong-listed shares, after the Chinese tech giant announced it will split into six business groups. In Japan, the Nikkei 225 opened marginally lower, but the Topix rose 0.13%. South Korea's Kospi fell fractionally, while the Kosdaq index rose 0.03%.

Asia-Pacific markets were higher on Tuesday as investor fears over the recent banking turmoil continued to show signs of easing. In Australia, the S&P/ASX 200 rose 1.11%. Japan's Nikkei 225 was up 0.3%, while the Topix saw a larger gain of 0.57% in early trading. Hong Kong's Hang Seng index was also looking to trade higher, with futures standing at 19,638 compared to the index's last close of 19,567,69. Elsewhere, South Korea will release its consumer sentiment index for March, while Australia will see its retail sales data for February.

A Cruise Ship next to Hong Kong Skyline on March 21, 2023 in Hong Kong, China. (Photo by Vernon Yuen/NurPhoto via Getty Images)Asia-Pacific markets were mixed on Monday as investors continue to assess the impact of the banking troubles in the U.S and Europe. On Friday, Deutsche Bank saw a selloff of its U.S.-listed shares, after the German lender's credit default swaps jumped, without an apparent catalyst. In Australia, the S&P/ASX 200 rose 0.26%, while Japan's Nikkei 225 also opened 0.15% higher and the Topix climbed 0.21%. Hong Kong markets were also poised to fall, with Hang Seng futures trading at 19,864 compared to 19,915.68.

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