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☆ Stocks making the biggest moves before the bell: Nasdaq, Illumina, Oracle, Carnival & more
▼ + stars: | 2023-06-12 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Nasdaq — The exchange operator's shares dropped 7.7% following the announcement of its deal to buy Adenza, the software firm owned by Thoma Bravo. Illumina — The biotech stock rose 2% in premarket trading after Illumina announced a CEO transition plan on Sunday. Bill.com — Shares shed 4.8% in the premarket after Morgan Stanley downgraded the expense management platform to equal weight from overweight. Oracle — The IT stock added 4.7% in Monday's premarket as investors awaited earnings for the fiscal fourth quarter expected after the bell. The Wall Street firm upgraded shares to overweight, citing continued demand momentum in the cruise industry.

Persons: Thoma Bravo, Illumina, Francis deSouza, Carl Icahn, Nio, Nomura, Morgan Stanley, Bill.com, Wolfe, —, Jesse Pound, Samantha Subin, Michelle Fox Organizations: Nasdaq, Thoma, Oracle, Wolfe Research, ISI, Barclays, JPMorgan Locations: Monday's premarket

☆ Nio cuts prices for its cars — and delays business expansion plans
▼ + stars: | 2023-06-12 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Tesla and other electric car companies in China had cut prices earlier this year in a bid to attract buyers. The analysts cut their rating on Nio shares to hold, from buy. Looking ahead, Nio said that it aimed to deliver at least 20,000 cars a month in the second half of the year. watch nowNomura analysts said they expected the car company can improve its deliveries with new models, like the ES6 SUV and ET5 touring sedan. Nio's cash and cash equivalents fell below $1 billion at the end of 2019.

Persons: William Li, Hector Retamal, Nio, William Li's, Tesla, Li, Nomura, Mizuho Organizations: HK, Afp, Getty, China Merchants Bank International, Monday, Nomura, State Council, EV, Mizuho Securities Locations: Shanghai, BEIJING, China, EU

☆ Stocks making the biggest moves midday: Carnival, Nasdaq, Oracle, KeyCorp and more
▼ + stars: | 2023-06-12 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

The Carnival Miracle cruise ship operated by Carnival Cruise Line is docked at Pier 27 in San Francisco, Sept. 30, 2022. Other cruise stocks also got a boost, with Norwegian Cruise Line gaining about 9% and Royal Caribbean adding 2%. Chinook Therapeutics — Shares soared 58.32% after Novartis announced it has agreed to acquire the biotech firm for up to $3.5 billion. Oracle — Shares of the IT cloud software company gained 5.99% ahead of its quarterly earnings announcement scheduled for after the bell. Wolfe Research upgraded shares to outperform from peer perform in a Sunday note, citing the company's early-mover advantage in the artificial intelligence boom.

Persons: JPMorgan Chase, Thoma Bravo, Morgan Stanley, Wolfe, Alessandro Maselli, Nio, Nomura, Illumina, Francis deSouza, Carl Icahn, KeyCorp, — CNBC's Hakyung Kim, Alex Harring, Samantha Subin, Jesse Pound Organizations: Carnival Cruise, JPMorgan, Bank of America, Cruise Line, Royal, Chinook Therapeutics, Novartis, Nasdaq —, Thoma, Oracle —, Wolfe Research Locations: San Francisco, Royal Caribbean

☆ Investors are eyeing China's neighbors as the recovery from 'zero-Covid' slows
▼ + stars: | 2023-06-12 | by ( Jihye Lee | ) www.cnbc.com time to read: +8 min

Bloomberg | Bloomberg | Getty ImagesChina's lackluster economic recovery since emerging from strict "zero-Covid" lockdowns has caused weaker sentiment toward the country, prompting investors to look for alternative options — like its near neighbors. Higher targets for JapanForeign investors have undoubtedly been key in driving the Japanese market, maintaining the highest levels the Nikkei has seen since 1990. During the same period last year, foreign investors had sold a net 1.73 trillion yen approximately. Wall Street banks including Morgan Stanley and Societe Generale are among those that are optimistic on Japanese stocks, holding "overweight" positions. Upside for Korea tech stocksSouth Korea is another market closely watched as concerns over China's recovery linger.

Persons: Goldman, Andrew Tilton, Berkshire Hathaway's Warren Buffett, India's, Goldman Sachs, Tilton, Morgan Stanley, ROE, Mike Wilson, we've, Price, Goldman's Tilton, Rhee Chang, Nomura, Chloe Andrieu, Pranjul Bhandari, Bhandari Organizations: Bloomberg, Getty, Asia, Pacific, Japan Foreign, Nikkei, Japan's Ministry of Finance, Societe Generale, Equity, U.S, UBS Global Wealth, U.S ., UBS, The Bank of, CNBC, Citi, AFP, Afp, Korea Financial Investment Association, South Korean, Fitch, Ben Advisors Locations: Macau, China, Japan, South Korea, India, Goldman Sachs, Berkshire, South, Shanghai, Shenzhen, Wall, Korea, Asia, The Bank of Korea, Fuyang, China's, Anhui, Indonesia

☆ Here are Monday's biggest analyst calls: Oracle, Tesla, McDonald's, Amazon, Nio, Carnival, AMD and more
▼ + stars: | 2023-06-12 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

UBS reiterates McDonald's as buy UBS said McDonald's is "well positioned to drive further sales growth and market share gains." JPMorgan upgrades Carnival to overweight from neutral JPMorgan said it sees an "attractive risk/reward" for the cruise operator. Bank of America upgrades Carnival to buy from neutral Bank of America said it's getting bullish on cruise demand. Morgan Stanley upgrades Sentinel One to overweight from equal weight Morgan Stanley said the cybersecurity company has an attractive risk/reward. Morgan Stanley reiterates Home Depot as overweight Morgan Stanley said it's bullish on the company's long-term growth outlook.

Persons: McDonald's, it's, Morgan Stanley downgrades Bill.com, Morgan Stanley, Wolfe, Tesla, Nomura, Evercore, Wedbush, it's bullish, Argus, Abercrombie, Jefferies Organizations: UBS, JPMorgan, JPMorgan Chase, Petrobras, CCL, Bank of America, of America, Intuit, Oracle, Disney, Auto, Citi, U.S . Bancorp Citi, U.S . Bancorp, Sentinel, AMD, Abercrombie, Fitch

LONDON/MADRID, June 11 (Reuters) - Morgan Stanley Infrastructure Partners is poised to buy Sacyr's (SCYR.MC) Valoriza Servicios Medioambientales in a deal that could value the unit at close to 600 million euros ($644.8 million) including debt, people familiar with the matter said. Morgan Stanley Infrastructure has prevailed over other firms in an auction that Valoriza's owner, Spanish construction firm Sacyr, held for the company which started in February, the sources said on Sunday. Valoriza Servicios Medioambientales is specialized in managing a range of services in the waste recycling chain such as collection, treatment and management of waste. Sacyr and Morgan Stanley declined to comment. Sacyr has been advised by Santander and Nomura, while Morgan Stanley Infrastructure Partners was advised by Deutsche Bank, the sources said.

Persons: Morgan Stanley, Valoriza, Sacyr, Morgan, Andres Gonzalez, Corina Pons, Jan Harvey, Marguerita Choy Organizations: Morgan Stanley Infrastructure Partners, Morgan Stanley Infrastructure, Santander, Nomura, Deutsche Bank, Thomson Locations: MADRID, Spanish

☆ India's central bank isn't letting its guard down, economist says
▼ + stars: | 2023-06-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIndia's central bank isn't letting its guard down, economist saysSonal Varma of Nomura discusses the outlook for the Reserve Bank of India's monetary policy and says it's monitoring factors such as El Nino and a potential rise in oil prices. She adds that an interest rate hike is unlikely.

Persons: Sonal Varma, Nomura Organizations: Reserve Bank, El Nino

☆ China's big banks cut deposit rates, signaling monetary easing ahead
▼ + stars: | 2023-06-08 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

Bloomberg | Bloomberg | Getty ImagesBEIJING — China's largest banks cut interest rates for savers on Thursday in a bid to boost growth in an economy where consumption has been slow to recover. The country's six state-owned commercial banks' websites all showed updated yuan-denominated demand deposit interest rates of 0.2%, down from 0.25% last year, according to CNBC checks. The banks cut rates for other deposit products, including reducing the interest rate for five-year time deposits to 2.5% from 2.65%, according to their websites. The state-run Securities Times reported the deposit rate cuts in the Thursday edition of the newspaper. However, it's not a given that lower deposit rates will translate immediately into greater spending.

Persons: Nomura, Ting Lu, Zhang, it's Organizations: of, Bloomberg, Getty, BEIJING, CNBC, Securities Times, People's Bank of China, China, Management Locations: of China, China, Shanghai

☆ US stocks are in the firing line if China’s economy stalls further
▼ + stars: | 2023-06-08 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Recent data shows that China is also contending with worse-than-expected consumer spending, slowing manufacturing and weak home sales. What it means for markets: US-based companies doing business in China stand to lose if the economy continues on a downward trajectory. Qualcomm (QCOM), with a 67% exposure rate to China, issued disappointing forward guidance during earnings last month, citing China’s slow recovery. JD.com (JD), one of the largest Chinese companies trading in the United States, has fallen by nearly 36% this year. The air purifier market is poised to grow as climate change increases air pollution and exacerbates breathing difficulties.

Persons: That’s, China —, Capvision, China Nicholas Burns, ”, Goldman Sachs, Dow, JD.com, Morgan Stanley, Goldman, Ayaz Ebrahim, CARR, Johnson, Ivan Menezes, Diageo, Menezes ’, Menezes, King Charles III, Debra Crew, Johnnie Walker, Ivan, Javier Ferrán, “ Ivan Organizations: CNN Business, Bell, New York CNN, International Monetary Fund, Factories, Bain, Group, Micron Technology, Nasdaq, Apple, Intel, Starbucks, Nike, Bank of America, Las, Qualcomm, Nvidia, Wynn Resorts, WYNN, MGM Resorts, MGM, China . Companies, Dragon, Goldman Sachs Group, Nomura, Barclays, JPMorgan, Asia Pacific, Bloomberg, Google, Carrier Global, Johnson Controls, Economic Co, Diageo, India, Business, ”, Whisky Association, Northwestern University’s Kellogg School of Management Locations: New York, China, Washington, Beijing, United States, Hong Kong, Dragon China, Canada, Pune, India

The draft plan, which was presented at Kishida's top economic advisory panel on Wednesday, underscored the challenge for the leader, who is seen as a fiscal hawk, to strike a balance between economic growth and fiscal consolidation. The closely-watched policy framework will be approved by Kishida's cabinet this month, along with a separate action plan on his "new capitalism" agenda. "We will not abandon the flag of fiscal reform," Economy Minister Shigeyuki Goto told reporters after the panel's meeting. "There's no change to the government stance of striving to achieve a primary budget surplus in fiscal 2025," Goto added. The framework said the government will conduct a review of any progress of its fiscal reform in the fiscal year 2024 so as to create a medium-term economy and fiscal scheme.

Persons: Fumio Kishida's, Takahide Kiuchi, Shigeyuki Goto, Goto, largesse, Kishida Organizations: Nomura Research Institute, Liberal Democratic Party, LDP ₎, International Monetary Fund, Bank of Japan, Thomson Locations: TOKYO, Japan

The Bank of Japan is the only major central bank that now has negative rates following aggressive tightening globally to combat inflation. It has hinted that it will alter yield curve control -- where it guides short-term rates at -0.1% and 10-year Japan government bond yield around zero -- at some point. Japanese investors hold around $1.84 trillion in foreign assets, according to Deutsche Bank. "Recent inflows into Japanese markets are mainly driven by the foreign investors," Murao said. "We do not really have a global champion such as Google, Amazon, or Meta in the Japanese markets," Murao added.

Persons: Florence Lo, Yuichi Murao, Murao, I've, Amanda Cooper, Dhara, Christina Fincher Organizations: REUTERS, Nomura Asset Management, Reuters, The Bank of Japan, Nomura, Management, Equity, Treasury, Nikkei, Deutsche Bank, Apple, Visa, Toyota, Sony, PlayStation, Thomson Locations: Japan, Tokyo

☆ China is likely to face a 'balance sheet recession,' economist says
▼ + stars: | 2023-06-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina is likely to face a 'balance sheet recession,' economist saysRichard Koo of the Nomura Research Institute says the country is likely to face such a situation "given what's happening to the asset markets."

Persons: Richard Koo Organizations: China, Nomura Research Institute

☆ Investors probably want to shift from China to Japan, strategist says
▼ + stars: | 2023-06-07 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestors probably want to shift from China to Japan, strategist saysYunosuke Ikeda of Nomura says there is "good upside potential" for "medium-term, long-term stories" when it comes to Japanese companies.

Persons: Yunosuke Ikeda, Nomura Organizations: Investors Locations: China, Japan

☆ More companies in Southeast Asia will look to public markets to fund growth, Nomura says
▼ + stars: | 2023-06-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMore companies in Southeast Asia will look to public markets to fund growth, Nomura saysJwalant Nanavati of the financial services firm says "we see a consistent trend of this pipeline of IPOs continuing" as Southeast Asian markets mature.

Persons: Nomura, Jwalant Locations: Southeast Asia

☆ China's stimulus could focus on its 'dire' property sector. Here's what economists expect
▼ + stars: | 2023-06-07 | by ( Jihye Lee | ) www.cnbc.com time to read: +3 min

China's economic recovery is losing momentum after an initial burst in consumer and business activity early in the year, prompting calls for more policy stimulus to bolster growth. // "The stimulus package could be centered on the property sector, with expansionary monetary and fiscal policies to keep up growth momentum," Citi economists led by Xiangrong Yu wrote in a Tuesday note. Don't expect a 'bazooka'Nomura's Chief China economist Ting Lu said "the situation of China's property sector appears dire." The Japanese investment bank doesn't expect a "bazooka" stimulus package but predicts it will be introduced in a cautious manner. They pointed to the latest wording from top policymakers and their emphasis on "security" – how this is an indicator for the scale of a stimulus package to come.

Persons: Qilai Shen, Xiangrong Yu, Ting Lu, Nomura Organizations: Bloomberg, Getty Images Bloomberg, Getty, Citi Locations: Wuxi, China, Beijing

The pessimistic outlook for exports suggests that Chinese exporters have caught up on unfulfilled orders after last year's COVID-19 disruptions and global demand is insufficient to sustain a recovery in outbound shipments. The official PMI sub indexes for May showed factory output swung to contraction from expansion while new orders, including new exports, fell for a second month. South Korean shipments to China, a leading indicator of China's imports, slid 20.8% in May, marking the 12th straight annual loss, but the pace eased to the slowest seen in seven months. China's economy grew faster than expected in the first quarter due to robust services consumption, but factory output has continued to lag amid persistent weak global growth. Polling by Devayani Sathyan and Sujith Pai; Reporting by Joe Cash; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

Persons: Devayani Sathyan, Sujith Pai, Joe Cash, Jacqueline Wong Organizations: PMI, Nomura, Barclays, Thomson Locations: BEIJING, Shanghai, China

☆ Pound heads for biggest weekly gain in six months
▼ + stars: | 2023-06-02 | by ( Amanda Cooper | ) www.reuters.com time to read: +3 min

LONDON, June 2 (Reuters) - Sterling headed for its biggest one-week rally against the dollar in six months on Friday, as U.S. interest rates looked increasingly likely to plateau sooner than UK rates. The pound has gained 1.5% against the dollar this week, the most since early December, and nearly 1.1% against the euro - which would be its largest weekly increase in nearly four months. Meanwhile, as UK inflation remains stubbornly high, traders have reassessed the outlook for monetary policy in Britain too. Money markets show markets are pricing for UK rates to peak at 5.32% by year-end, up from 4.50% now. A month ago, the expectation was that UK rates would be around 4.80% by December.

Persons: Sterling, Warren Venketas, Jordan Rochester, Amanda Cooper, Susan Fenton Organizations: NFP, Federal Reserve, Treasury, U.S, Nomura, Thomson Locations: Washington, Britain, Rochester

In April and May, domestic outflows totalled around 2 trillion yen ($14.81 billion) for individual investors and over 2.2 trillion yen for Japanese institutions. While foreign investors are excited about the prospect of a new era of growth in corporate Japan, domestic investors are eager to catch any profits they can, sticking to a strategy born out of decades of fleeting rallies. Reuters Graphics"It has been a trend that retail investors sell stocks at a peak. This time short-term investors sold stocks as they were cautious about the sharp gains of the Nikkei," said Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities. "Long-term investors also sold stocks because they were saddled with losses after the Nikkei made a range-bound move for a long time."

Persons: Shoichi Arisawa, Masayuki Kubota, Kubota, Warren Buffet, Ohara, Ankur Banerjee, Junko Fujita, Rocky Swift, Gaurav Dogra, Tom Westbrook, Sam Holmes Organizations: Nikkei, Reuters, IwaiCosmo Securities, Rakuten Securities, Tokyo Stock, Reuters Graphics, Bank of Japan, Gaurav, Thomson Locations: TOKYO, SINGAPORE, Japan, Tokyo, Singapore, Bengaluru

☆ China new home prices, sales fall on soft demand in May
▼ + stars: | 2023-06-01 | by ( ) www.reuters.com time to read: +1 min

New home prices among 100 cities fell 0.01% month-on-month in May from 0.02% growth the previous month, according to survey data from the China Index Academy on Thursday. Home sales by value by property developers fell 18.8% from a month earlier, the independent real estate research firm said in a separate statement on Wednesday. "The real estate market was under greater adjustment pressure and homebuyers' sentiment continued to fall in May," said the firm. The property sector gained a boost from the lifting of tough COVID curbs in December, low mortgage interest rates and a slew of policy support measures. "These (bearish) property market data will likely further weigh on China-related assets in the next couple of weeks," said Nomura.

Persons: Nomura, Liangping Gao, Ryan Woo, Kim Coghill Organizations: China Index Academy, Thomson Locations: BEIJING, China

Summary Manufacturing PMI unexpectedly fallsNon-manufacturing PMI falls, as services slowPMIs show economic recovery losing steamMarkets skid on PMI weaknessBEIJING, May 31 (Reuters) - China's factory activity shrank faster than expected in May on weakening demand, heaping pressure on policymakers to shore up a patchy economic recovery and knocking Asian financial markets lower. "The PMI data reveal that China may heading to a K-shaped recovery," said Bruce Pang, chief economist at Jones Lang LaSalle. "The sluggish domestic demand could weigh on China's sustainable growth, if there are no efficient and effective policy moves to engineer a broad-based recovery," said Pang. The PMI subindexes for May showed factory output swung to contraction from an expansion while new orders, including new exports, fell for the second month. Last month, imports contracted sharply, factory gate prices fell, property investment slumped, industrial profits plunged and factory output and retail sales both missed forecasts.

Persons: Bruce Pang, Jones Lang LaSalle, Pang, Jones Lang LaSalle's Pang, Li Qiang, Zhiwei Zhang, Liangping Gao, Ryan Woo, Sam Holmes Organizations: PMI, National Bureau of Statistics, . Service, New, Jones, Labor, Nomura, Barclays, Thomson Locations: BEIJING, Asia, New Zealand, China, Japan

☆ Very few U.S.-China flights are back despite the end of Covid
▼ + stars: | 2023-05-31 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

Previously, the only regular direct flights by Chinese carriers between mainland China and New York since the pandemic were from Shanghai and Guangzhou. Flights of Air China are parked on the tarmac of Beijing Capital International Airport in Beijing, China, March 28, 2016. watch nowIn March, Delta announced it resumed direct flights between the U.S. and China — from Shanghai to Seattle and Detroit. Overall, mainland China's international flights remains below 40% of 2019 levels, the Nomura report said. The analysts expect that level to pick up to 70% by the end of the year as international flights recover around the summer holiday season.

Persons: Nomura, Ting Lu, Kim Kyung Hoon Organizations: China, U.S, Air, U.S . Department of Transportation, Beijing Capital International Airport, Reuters, American Airlines, Delta Locations: BEIJING, U.S, China, Egypt, Saudi Arabia, Italy, Variflight, Middle East, Iran, Beijing, Ukraine, Air China, New York, Shanghai, Guangzhou, Los Angeles, Delta, United, Seattle, Detroit

☆ New warning signs emerge for China's property market
▼ + stars: | 2023-05-31 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Construction on a real estate development project gets underway near the Bund in Shanghai, China, on May 25, 2023. BEIJING — New data show China's massive property sector is still struggling to turn around, despite signs of recovery earlier this year. Beijing has eased its pressure on real estate developers in the last year, following a crackdown on their debt levels in August 2020. The property sector and related industries have accounted for more than a quarter of China's economy, according to Moody's estimates. Both weeks' sales volume was lower than during the same period in 2019, prior to the pandemic, the report said.

Persons: That's, Ting Lu Organizations: Bund Locations: Shanghai, China, BEIJING, U.S, Beijing

☆ Flights between China and Middle East almost back to pre-Covid levels: Nomura
▼ + stars: | 2023-05-31 | by ( Evelyn Cheng | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFlights between China and Middle East almost back to pre-Covid levels: NomuraThere has been a lot of "warming up" between China and the Middle East and an increase in capital flows between the two. CNBC's Evelyn Cheng reports.

Persons: CNBC's Evelyn Cheng Organizations: Nomura Locations: China, Middle

☆ Japan's Nikkei hits highest since July 1990 on weak yen, US optimism
▼ + stars: | 2023-05-29 | by ( Kevin Buckland | ) www.reuters.com time to read: +2 min

TOKYO, May 29 (Reuters) - Japan's Nikkei share average rose on Monday to its highest level since July 1990, buoyed by optimism over a U.S. debt ceiling deal and a weaker yen. "The Nikkei crossed the psychological 31,500 mark on Monday, but in the end that level proved a bit too heavy," she said. "This week, I expect the Nikkei to steadily advance, but with short-term retracements to check its speed." The broader Topix (.TOPX) rose as high as 2,175.13, but failed to get close to last week's 33-year high at 2,188.66. Reporting by Kevin Buckland; Editing by Himani Sarkar, Muralikumar Anantharaman, Sherry Jacob-Phillips and Sohini GoswamiOur Standards: The Thomson Reuters Trust Principles.

☆ Japan's Nikkei share average rises to highest since July 1990
▼ + stars: | 2023-05-29 | by ( Kevin Buckland | ) www.reuters.com time to read: +2 min

TOKYO, May 29 (Reuters) - Japan's Nikkei share average rose on Monday to its highest level since July 1990, buoyed by optimism over a U.S. debt ceiling deal and a weaker yen. "The Nikkei crossed the psychological 31,500 mark today, but in the end that level proved a bit too heavy," she said. "This week, I expect the Nikkei to steadily advance, but with short-term retracements to check its speed." The broader Topix (.TOPX) rose as high as 2,175.13, but failed to get close to last week's 33-year high at 2,188.66. Reporting by Kevin Buckland; Editing by Himani Sarkar, Muralikumar Anantharaman and Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

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