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☆ Hyundai Motor's Q4 net profit triples but misses expectations
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +1 min

SEOUL, Jan 26 (Reuters) - South Korea's Hyundai Motor Co (005380.KS) on Thursday reported a tripling in fourth-quarter profit on strong demand for its high-margin sport-utility vehicles and a weak won. Hyundai Motor reported a net profit of 1.7 trillion won ($1.4 billion) for the October-December period versus a profit of 547 billion won a year earlier, when the automaker booked some one-off costs. That compared with a Refinitiv SmartEstimate for fourth-quarter profit at 2.5 trillion won drawn from 18 analysts. Like many other automakers, Hyundai benefited from the tight supply of new vehicles last year which have kept retail prices high. Shares in Hyundai Motor rose on Thursday to be up 4.4% in afternoon trade.

☆ South Korea's economy shrank for the first time in two years, but growth is expected from China’s reopening
▼ + stars: | 2023-01-26 | by ( Jihye Lee | ) www.cnbc.com time to read: +1 min

A customer looks at a pack of frying mix at a supermarket in Seoul on May 14, 2020. South Korea's economy saw its first quarterly contraction since the second quarter of 2020, according to advance estimates released by the central bank. The worsening conditions in South Korea's economy signaled that a recovery, once seen coming from "revenge-spending" consumers putting the pandemic behind them, may be fading sooner than expected. A sharp, 5.8% decline in exports dragged down the overall reading, alongside a 4.1% drop in manufacturing and 0.4% contraction in private consumption, the central bank said in its release. Still, South Korea's benchmark Kospi stock index continued to show gains for a fourth consecutive session on Thursday, trading 0.7% higher in the afternoon.

☆ Asia-Pacific shares trade mixed, tracking Wall Street's struggle for direction
▼ + stars: | 2023-01-25 | by ( Lee Ying Shan | ) www.cnbc.com time to read: 1 min

Asia-Pacific shares traded mixed on Wednesday, taking the lead from Wall Street's struggle for direction as China and Hong Kong markets remain closed for the Lunar New Year holidays. In South Korea, the Kospi rose 1.3%, while the Kosdaq climbed 1.16% in its first hour of trade. Japan's Nikkei 225 dipped 0.22% and the Topix shed 0.06%. Australia's S&P/ASX 200 traded flat as investors await the release of the country's inflation reading.

☆ Asian stocks edge up, dollar sags as markets mull Fed risks
▼ + stars: | 2023-01-20 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

U.S. Treasury yields remained elevated in Tokyo after bouncing off four-month lows overnight. Asian markets showed some resilience despite a selloff on Wall Street overnight, with the S&P 500 (.SPX) losing 0.76%. Worries about more Fed tightening were heightened by robust U.S. employment data and fresh hawkish rhetoric from central bank officials. The market bets the policy rate will been just below 5% in June, implying just over 50 basis points of additional tightening. The benchmark 10-year Treasury yield was around 3.4% after bouncing off the lowest since mid-September at 3.321% overnight.

☆ Asia-Pacific shares trade mixed as U.S. inflation data remains firmly in spotlight
▼ + stars: | 2023-01-12 | by ( Lee Ying Shan | ) www.cnbc.com time to read: 1 min

SHANGHAI, CHINA - MARCH 01: Skyscrapers stand at the Pudong Lujiazui Financial District on March 1, 2022 in Shanghai, China. Asia-Pacific shares traded mixed as investors look ahead to the U.S. consumer price index report Thursday. Australia's S&P/ASX 200 traded up 1.03% in its first hour of trade. The Nikkei 225 dipped fractionally after reversing earlier gains, while the Topix climbed 0.19%. South Korea's Kospi traded flat, while the Kosdaq declined 0.19%.

☆ Alibaba shares hit 6-month high after Jack Ma cedes control of Ant Group, amid a broad rally in Asian shares
▼ + stars: | 2023-01-09 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

The gains also come on the back of a broader market rally in Asian shares, thanks to China's reopening. A top Chinese central banker suggested over the weekend Beijing's tech crackdown is coming to a close. The Hang Seng Tech Index — an index that tracks the 30 largest tech companies listed in Hong Kong — closed 3.2% higher. Shares of Hong Kong-listed Chinese tech giants Tencent and NetEase closed 3.6% and 2.6% higher respectively. Hong Kong's Hang Seng Index closed 1.9% higher, the Shanghai Composite Index gained 0.6%, and the Shenzhen Composite Index rose 0.7%.

☆ Asian stocks edge up before U.S. jobs data, defying Wall Street selloff
▼ + stars: | 2023-01-06 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

U.S. E-mini stock futures ticked up 0.35%, pointing to a small bounce after the 1.16% overnight slide for the S&P 500 (.SPX). Wall Street sold off amid worries that a robustness in the jobs market would keep the Fed raising rates for longer, after data released on Thursday showed a bigger than expected rise in private payrolls and a drop in jobless claims. U.S. two-year Treasury yields spiked to a more than two-month high of 4.497% overnight but eased to 4.460% in Tokyo. The 10-year yield , which rose as high as 3.784% in New York, dropped to 3.726%. The dollar index is up 1.57% this week, putting it on course to snap a streak of three losing weeks.

☆ Asia-Pacific markets trade mixed as Fed signals more pain ahead
▼ + stars: | 2023-01-06 | by ( Jihye Lee | ) www.cnbc.com time to read: +1 min

South Korea's Kospi gained 0.16% despite Samsung Electronics reporting a nearly 70% fall in its final quart profits as expected . Markets in the Asia-Pacific traded mixed after the Federal Reserve signaled further rate hikes ahead. Japan is slated to release the latest Jibun Bank Composite Services purchasing manager's index reading. On Wall Street, the Dow closed 300 points lower as investors looked ahead to more jobs data scheduled to be released Friday stateside. Bed, Bath & Beyond shed nearly 30% after the company said it is short on cash and considering bankruptcy.

☆ European markets nudge higher ahead of key euro zone inflation data
▼ + stars: | 2023-01-06 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

LONDON — European markets nudged higher on Friday ahead of key inflation data for the euro zone, which is expected to show a further slowdown in consumer price increases. Flash euro zone consumer price index inflation figures are due late morning. The U.S. ADP private payrolls report published Thursday said employers added 235,000 jobs in December — highlighting the strength of the labor market despite the Fed's attempt to tame inflation and suggesting there is room for higher interest rates. Investors will be closely watching Friday's December nonfarm payrolls report for further indications as to the path of monetary policy. Shares in Asia-Pacific ticked higher overnight, led by South Korea's Kospi index, while U.S. stock futures pointed to a positive open on Wall Street as traders await the key jobs report.

☆ Asia-Pacific markets inch lower as region kicks off 2023
▼ + stars: | 2023-01-03 | by ( Jihye Lee | ) www.cnbc.com time to read: +1 min

The public watch the first sunrise of the year during New Year's celebrations at a park on January 1, 2023 in Seoul, South Korea. Markets in Japan and New Zealand are closed for public holidays Tuesday. South Korea's Kospi fell 0.48% in its first session of the year on Monday, with the Kosdaq also falling 0.61%. Markets in Asia are set for a lower open as most of the region kicks off their first trading sessions for the year. The S&P 500 lost 19.4% for the year, the Nasdaq lost 33.1% and the Dow closed 8.8%.

REUTERS/Kim Hong-JiSEOUL, Jan 3 (Reuters) - South Korea's Hyundai Motor Co (005380.KS) and affiliate Kia Corp (000270.KS) forecast on Tuesday that their combined global sales will jump nearly 10% in 2023, even as last year's sales fell short of target due to supply chain disruptions. The companies sold 6.85 million vehicles in 2022, about 4% less than their combined target of 7.16 million vehicles, largely due to problems including chip and component shortages. They said they would target global sales of 7.52 million vehicles this year. Shares of Hyundai Motor and Kia closed up 1.3% and 1.5% respectively, versus a 0.3% fall in the benchmark market KOSPI (.KS11). In October, Hyundai Motor cut its 2022 global sales target by about 7% to 4.01 million vehicles from 4.32 million vehicles.

☆ Asia-Pacific shares trade lower as Japan's core inflation marks 40-year high
▼ + stars: | 2022-12-23 | by ( Lee Ying Shan | ) www.cnbc.com time to read: 1 min

Asia-Pacific shares traded lower, taking the lead from losses on Wall Street while investors also looked ahead to some economic data in the region. Japan's core consumer price index at 3.7% in November on an annualized basis, marking the fastest pace since December 1981, when it saw a 4.3% jump. The Nikkei 225 fell 1% in its first hour of trade. The Japanese yen stood at 132.38 against the U.S. dollar. South Korea's Kospi also fell 1.24%.

☆ Asian stocks sag with dollar as hawkish Fed spurs recession fears
▼ + stars: | 2022-12-15 | by ( Kevin Buckland | ) www.reuters.com time to read: +4 min

TOKYO, Dec 15 (Reuters) - Asian stocks sagged on Thursday, tracking declines on Wall Street, after the U.S. Federal Reserve projected higher interest rates for a longer period. U.S. Treasury yields remained depressed and the curve deeply inverted as traders continued to fret that tighter policy will trigger a recession. Japan's Nikkei (.N225) eased 0.17%, while South Korea's Kospi (.KS11) dropped 0.92% and Australia's stock benchmark (.AXJO) fell 0.4%. "The weakening in risk assets and the flattening of the curve suggest that recession fears may be the dominant driver of market price action." The IEA raised its 2023 oil demand growth estimate to 1.7 million bpd for a total of 101.6 million bpd.

☆ Asia-Pacific markets rise on cooler inflation print, ahead of Fed rate decision
▼ + stars: | 2022-12-14 | by ( Jihye Lee | ) www.cnbc.com time to read: +1 min

People walk through Exchange Square in Hong Kong on October 28, 2022. Major lenders Standard Chartered and HSBC expressed confidence in the rebound of Hong Kong's and China's economy, even as China ramps up its Covid measures and Hong Kong's economy posted its worst quarter in more than two years. Asia-Pacific markets traded higher on Wednesday, after stocks on Wall Street saw a second day of gains on an inflation print that came in cooler than expected. The Hang Seng index in Hong Kong rose 0.6% in its final hour of trade. In Japan, the Nikkei 225 gained 0.72% to 28,156.21 while the Topix was 0.6% higher to 1,977.42.

☆ Asia-Pacific stocks climb as Hong Kong scraps Covid restrictions for incoming travelers
▼ + stars: | 2022-12-13 | by ( Lee Ying Shan | ) www.cnbc.com time to read: 1 min

Pedestrians cross a road in front of the Tokyo Stock Exchange (TSE), operated by Japan Exchange Group Inc. (JPX), in Tokyo, Japan, on Thursday, Oct. 29, 2020. Asia-Pacific shares opened in positive territory as investors look ahead to a highly anticipated Federal Reserve meeting and U.S. CPI data reading. Hong Kong's Hang Seng index was up 0.67% after Chief Executive John Lee announced further easing of Covid restrictions. The Nikkei 225 in Japan added 0.40% to close at 27,954.85, while the Topix inched up 0.43% to 1,965.68. The MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.29%.

☆ Asia markets fall amid recession fears; China to report trade data
▼ + stars: | 2022-12-07 | by ( Abigail Ng | ) www.cnbc.com time to read: 1 min

Aerial view of containers sitting stacked at the Qinzhou Port on August 15, 2022 in Qinzhou, Guangxi Zhuang Autonomous Region of China. Shares in the Asia-Pacific slipped on Wednesday after major U.S. indexes fell more than 1% each overnight as recession concerns weigh on markets. China's November trade data is predicted to show a sharp drop in exports and imports, according a Reuters poll. The Nikkei 225 in Japan was down 0.59% in early trade and the Topix also fell 0.44%. South Korea's Kospi shed 0.29%, and the Kosdaq was 0.58% lower.

☆ When the chips go up: Big banks bet on S. Korea, Taiwan stocks for 2023
▼ + stars: | 2022-12-01 | by ( Harish Sridharan | ) www.reuters.com time to read: +5 min

Goldman Sachs says South Korean stocks are the bank's top "rebound candidate" for 2023 due to low valuations, made cheaper by a nosediving Korean won, and as companies benefit from an expected recovery in Chinese demand. "We think (Korean stocks) sold off too much in September and August." Morgan Stanley downgraded its view on Indian exposure in October, when it upgraded its recommendation for South Korea. Like South Korea, Taiwan (.TWII) is another heavily-sold and chip-maker dominated market - though tensions with China make some investors a bit less enthusiastic. Meanwhile, Taiwan and South Korea are both geopolitical flashpoints - but analysts argue at least some of that is already in the price.

☆ Chinese stocks rally after the country's top pandemic official signals a softening of the country's draconian Covid-zero stance
▼ + stars: | 2022-12-01 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Vice Premier Sun Chunlan said China's pandemic is at a "new stage" that comes with new tasks. Sun's words carry weight as she's the face of China's hardline Covid-zero approach. Hong Kong and Chinese stocks are higher on optimism China is eyeing an exit from a Covid-zero policy. Sun's softening on China's draconian Covid-zero stance carries weight because she's seen as the face of the hardline approach. As the world's second-largest economy after the US, China has been under pressure from pandemic restrictions that are into their third year.

☆ Asia-Pacific markets slip ahead of China factory activity data
▼ + stars: | 2022-11-30 | by ( Abigail Ng | ) www.cnbc.com time to read: 1 min

Workers work on a speaker production line at Luyang Electronics Co LTD in Fuyang City, Anhui Province, China, Oct 31, 2022. Asia-Pacific shares fell on Wednesday ahead of the release of data on China's November factory activity, in which analysts are expecting to see a contraction for the second time in a row. The Nikkei 225 in Japan fell 0.52% and Topix slipped 0.42%. The MSCI's broadest index of Asia-Pacific shares outside Japan was 0.14% lower. Japan's Fast Retailing and electric-vehicle maker Xpeng are set to report earnings, and Fed Chair Jerome Powell will be delivering a speech at the Brookings Institution on Wednesday.

China's CSI300 Index (.CSI300) was down 1.8% after opening down 2.2% while the yuan also retreated. Australia's benchmark stock index (.AXJO) closed 0.42% lower while its risk-sensitive currency was off more than 1%. Japan's Nikkei stock index (.N225) was down 0.6%. In Shanghai, demonstrators and police clashed on Sunday night as protests over the country's stringent COVID restrictions flared for a third day. The COVID rules and resulting protests are creating fears the economic hit for China will be greater than first expected.

South Korea's KOSPI 200 index (.KS200) retreated 1.35% in early trade and New Zealand's S&P/NZX50 Index (.NZ50) was off 0.4%. In China, demonstrators and police clashed in Shanghai on Sunday night as protests over the country's stringent COVID restrictions flared for a third day. There were also protests in Wuhan, Chengdu and parts of the capital Beijing late Sunday as COVID restrictions were put in place in an attempt to quell fresh outbreaks. The COVID rules and resulting protests are creating fears the economic hit for China will be greater than expected. "This remains a headwind for oil demand that, combined with weakness in the U.S. dollar, is creating a negative backdrop for oil prices."

☆ Global markets fall after protests erupt in China over Covid lockdowns
▼ + stars: | 2022-11-27 | by ( Laura He | ) edition.cnn.com time to read: +5 min

Hong Kong CNN Business —Global markets fell on Monday after widespread protests in China against the country’s stringent Covid-19 restrictions roiled investor sentiment. The markets tumble comes after protests erupted across China in an unprecedented show of defiance against the country’s stringent and increasingly costly zero-Covid policy. US stock futures — an indication of how markets are likely to open — fell, with Dow futures down 0.3%, or 108 points. Oil prices dropped sharply, with investors concerned that surging Covid cases and protests in China may sap demand from one of the world’s largest oil consumers. US crude futures fell 2.7% to trade at $74.22 a barrel.

☆ U.S. yields sink amid dovish Fed signals; HK stocks slip on COVID concerns
▼ + stars: | 2022-11-25 | by ( Kevin Buckland | Vivek Mishra | ) www.reuters.com time to read: +4 min

The 10-year Treasury yield dipped to 3.659%, the lowest since Oct. 5 in Tokyo trading, after Thursday's U.S. Thanksgiving holiday. U.S. S&P 500 E-mini futures pointed 0.2% higher for the restart of Wall Street trading on Friday. Mainland Chinese blue chips (.CSI300), though, rose 0.51%, buoyed by government measures to support the real estate market. U.S. West Texas Intermediate (WTI) crude futures jumped 35 cents, or 0.5%, from Wednesday's close to $78.32 a barrel. Gold ticked 0.2% higher to $1,758.44 an ounce amid dollar weakness.

☆ Asia-Pacific stocks rise ahead of New Zealand rate decision, Fed minutes
▼ + stars: | 2022-11-23 | by ( Lee Ying Shan | ) www.cnbc.com time to read: 1 min

A pedestrians walks past the Reserve Bank of New Zealand headquarters in on Thursday, Aug. 9, 2018. New Zealand's central bank raised interest rates by 50 basis points to 2.0% on Wednesday, its fifth rate hike in a row as it seeks to get on top of inflation and signaled the cash rate would peak at a higher level than previously forecast. Shares in the Asia-Pacific rose Wednesday ahead of several economic data releases in the Asia-Pacific. New Zealand's central bank is expected to deliver a 75 basis point hike, according to a Reuters poll. The S&P/ASX 200 was up 0.87% despite the Reserve Bank of Australia governor Philip Lowe on Tuesday hinting at more rate hikes ahead.

☆ Asia-Pacific markets mixed as investors weigh risks
▼ + stars: | 2022-11-22 | by ( Abigail Ng | ) www.cnbc.com time to read: 1 min

People walk past the Tokyo Stock Exchange (TSE) on October 01, 2020 in Tokyo, Japan. Shares in the Asia-Pacific were set to rise on Tuesday as investors weigh risks. In Australia, the S&P/ASX 200 rose 0.5% ahead of central bank governor Philip Lowe's speech at the Committee for Economic Development of Australia. The Kospi and the Kosdaq in South Korea each fell 0.34%. MSCI's broadest index of Asia-Pacific shares outside Japan was about flat.

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