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☆ Shares and pound splutter as UK dishes out budget gruel
▼ + stars: | 2022-11-17 | by ( Marc Jones | ) www.reuters.com time to read: +6 min

[1/3] Pound and Dollar banknotes are seen in this picture illustration taken June 13, 2017. Pound and UK Gilt recover from 'mini budget' turmoilOvernight in Asia, grim signals from Micron Technology about excess inventories and sluggish demand sent chipmaker stocks sprawling. Mainland Chinese shares also wobbled, with blue chips there (.CSI300) falling 0.5% having ripped 10% higher this month. Traders will also scrutinise speeches from Fed officials on Thursday for hints about rate hikes. Crude oil steadied in Europe after settling more than a dollar lower overnight, following the resumption of Russian oil shipments via the Druzhba pipeline to Hungary and as rising COVID-19 cases in China weighed on sentiment.

☆ Chip stocks hammered in Asia, dollar firms on hawkish Fed
▼ + stars: | 2022-11-17 | by ( Kevin Buckland | Yousef Saba | ) www.reuters.com time to read: +4 min

TOKYO, Nov 17 (Reuters) - Chip stocks took a beating on Thursday, sending most Asian share indexes lower, after grim signals from Micron Technology overnight about excess inventories and sluggish demand. Meanwhile, the U.S. dollar rebounded after stronger-than-expected U.S. retail sales suggested the Federal Reserve was unlikely to ease up in its battle with inflation. Hong Kong's Hang Seng Index (.HSI) tumbled 2.1%, with its tech stocks (.HSTECH) slipping more than 4%. Japan's Nikkei (.N225) lost 0.3% and South Korea's Kospi (.KS11) dropped 1.1%, each led by declines in heavyweight chip players. The U.S. dollar index - which measures the currency against six major counterparts - added 0.13% to 106.41, stabilizing after a slide as low as 105.30 on Tuesday following the release of producer price inflation numbers.

Meanwhile, the U.S. dollar rebounded after stronger-than-expected U.S. retail sales suggested the Federal Reserve was unlikely to ease up in its battle with inflation. That fuelled concerns about the economic outlook, with the U.S. Treasury yield curve remaining deeply inverted in Tokyo trading and suggesting that investors are braced for recession. Hong Kong's Hang Seng Index (.HSI) tumbled 2.7%, with its tech stocks (.HSTECH) slipping more than 5%. Japan's Nikkei (.N225) lost 0.4% and South Korea's Kospi (.KS11) dropped 1.1%, each led by declines in heavyweight chip players. The U.S. dollar index - which measures the currency against six major counterparts - added 0.28% to 106.57, rebounding from a slide as low as 105.30 on Tuesday following the release of producer price inflation numbers.

☆ Asian stocks mixed, dollar finds footing as traders assess Fed outlook
▼ + stars: | 2022-11-17 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

TOKYO, Nov 17 (Reuters) - Asian stocks were mixed on Thursday while the U.S. dollar stabilized and Treasury yields remained depressed as investors tried to assess the outlook for Federal Reserve policy following stronger-than-expected retail sales data. Renewed expectations the Fed will keep hiking rates have increased concerns about the economic outlook. The U.S. Treasury yield curve remained deeply inverted in Tokyo trading, suggesting investors are bracing for recession. U.S. e-mini stock futures , though, indicated a 0.3% rebound at the reopen following the S&P 500's (.SPX) 0.8% overnight retreat. However, traders still see the terminal rate as close to 5% by next summer from the currency policy rate of 3.75-4%.

☆ Asia-Pacific markets trade mixed as second day of G-20 underway
▼ + stars: | 2022-11-16 | by ( Abigail Ng | ) www.cnbc.com time to read: 1 min

Shares in the Asia-Pacific were mixed on Wednesday as world leaders gather in Bali, Indonesia for a second day of the Group of 20 summit. Investors will be closely watching for more details after Polish authorities said a Russian-made missile killed two citizens and an investigation is underway. The Nikkei 225 and the Topix in Japan were about flat. MSCI's broadest index of Asia-Pacific shares outside Japan was slightly below the flatline. Economists surveyed by Reuters expect the benchmark interest rate to be raised by 50 basis points to 5.25%.

☆ Asia-Pacific markets little changed ahead of China activity data release
▼ + stars: | 2022-11-15 | by ( Abigail Ng | ) www.cnbc.com time to read: 1 min

A man walks past the Tokyo Stock Exchange (TSE), operated by Japan Exchange Group Inc. (JPX), in Tokyo, Japan, on Monday, Nov. 30, 2020. Shares in the Asia-Pacific were little changed on Tuesday ahead of a slew of economic data from China, and following the meeting between U.S. President Joe Biden and Chinese President Xi Jinping. The Nikkei 225 in Japan was slightly lower. Japan's economy unexpectedly contracted in the third quarter, official data showed. China is set to report industrial production and retail sales data.

☆ Asia-Pacific markets fall ahead of U.S. inflation data
▼ + stars: | 2022-11-10 | by ( Lee Ying Shan | ) www.cnbc.com time to read: 1 min

Shares in the Asia-Pacific fell Thursday as investors await U.S. inflation data, a key metric closely watched by the Federal Reserve, and as U.S. midterm results continue to roll in. The Nikkei 225 in Japan shed 0.9% in early trade and the Topix declined 0.65%. In South Korea, the Kospi dropped 0.53%. MSCI's broadest index of Asia-Pacific shares outside Japan shed 0.2%. In Australia, the S&P/ASX 200 was down 0.43%.

☆ Asia-Pacific markets rise as U.S. awaits midterm election results; China inflation data ahead
▼ + stars: | 2022-11-09 | by ( Jihye Lee | ) www.cnbc.com time to read: 1 min

Asia-Pacific stocks are set to rise as investors await the results of the United States midterm elections and a slew of economic data is expected, including China's inflation data. The Nikkei 225 in Japan was marginally higher while the Topix was fractionally lower. The Kospi in South Korea gained 0.36% and the Kosdaq gained 0.27%. In Australia, the S&P/ASX 200 rose 0.39% in the first hour of trade.

☆ Asia-Pacific stocks rise; Bank of Japan summary of opinions, U.S. midterm elections ahead
▼ + stars: | 2022-11-08 | by ( Jihye Lee | ) www.cnbc.com time to read: 1 min

Stocks in the Asia-Pacific traded higher early Tuesday morning as investors digest the Bank of Japan's summary of opinions and look ahead to the U.S. midterm elections. The Nikkei 225 in Japan rose 0.71% and the Topix was also 0.69% higher. The Bank of Japan released a summary of opinions of board members from its monetary policy meeting in October, when it left interest rates unchanged while global peers took on jumbo rate hikes. New Zealand will release its outlook for inflation in the fourth quarter. Nintendo will report quarterly earnings later in the day.

☆ The K-pop ETF hasn't been doing well, but its creator says Korean content is at 'inflection point'
▼ + stars: | 2022-11-07 | by ( Jihye Lee | ) www.cnbc.com time to read: +4 min

Since its launch on Sept. 1, the KPOP and Korean entertainment ETF has not performed well — recently trading on the New York Stock Exchange Arca at $15.05 — a roughly 23% drop from its debut. Shares of Korean entertainment companies have been underperforming overall, with YG Entertainment's stock price down around 26% year-to-date and Hybe down more than 64% year-to-date. The fund is a 30-stock index, which includes entertainment companies that manage bands such as BTS, BlackPink, and Twice — their respective agencies being HYBE, YG Entertainment, and SM Entertainment. Shares of Korean entertainment companies have been underperforming overall. Johnny Nunez | Getty Images Entertainment | Getty Images

SEOUL, Nov 3 (Reuters) - SK Innovation Co Ltd (096770.KS), the owner of South Korea's top oil refiner SK Energy, said on Thursday it expects a gradual recovery in refining margins this quarter as stronger Western sanctions on Russia and the winter season push up fuel demand. However, the company said margins will likely remain not far from third-quarter levels due to global recession worries. SK Innovation's operating profit rose to 704 billion won ($493 million) in the July-September period from 669 billion won a year earlier, it said. Revenue rose 82% to 22.8 trillion won, beating an average analyst estimate of 19.8 trillion won according to Refinitiv SmartEstimate. SK Innovation shares were trading up 0.8% in morning trade, versus a 0.6% fall in the broader KOSPI (.KS11).

☆ Australia shares down 2% in negative Asia session after Fed signals more hikes ahead
▼ + stars: | 2022-11-03 | by ( Abigail Ng | ) www.cnbc.com time to read: 1 min

A man looks at an electronic board displaying stock information at the Australian Securities Exchange, operated by ASX Ltd. on March 16, 2020 in Sydney, Australia. Shares in the Asia-Pacific dropped on Thursday after the U.S. Federal Reserve Chairman Jerome Powell signaled further hikes ahead after raising rates by 75 basis points as expected, saying it was "premature" to talk about pausing the tightening cycle. "We still have some ways to go and incoming data since our last meeting suggests that the ultimate level of interest rates will be higher than previously expected," he said. In Australia, the S&P/ASX 200 was last down 2.23%. The MSCI's broadest index of Asia-Pacific shares outside Japan slipped around 1%.

☆ Asia-Pacific markets mixed ahead of RBA decision, private survey on China's factory activity
▼ + stars: | 2022-11-01 | by ( Abigail Ng | ) www.cnbc.com time to read: 1 min

Office employees walk in front of the Reserve Bank of Australia in Sydney on September 4, 2018. Shares in the Asia-Pacific set to inch higher on Tuesday ahead of Australia's central bank decision and the results of a private survey on Chinese factory activity. The Fed's meeting also begins on Tuesday stateside. The Nikkei 225 in Japan gained 0.15% while the Topix also rose 0.23%.The Kospi in South Korea also rose 0.28%. In Australia, the S&P/ASX 200 was fractionally lower as analysts expect the Reserve Bank of Australia to raise interest rates by 25 basis points, according a Reuters poll.

☆ Asia-Pacific markets fall; Bank of Japan expected to keep rates unchanged
▼ + stars: | 2022-10-28 | by ( Abigail Ng | ) www.cnbc.com time to read: 1 min

The Bank of Japan (BOJ) headquarters in Tokyo, Japan, on Monday, April 25, 2022. Shares in the Asia-Pacific fell ahead of the Bank of Japan's interest rate decision and a slew of companies in the region reporting earnings. The Nikkei 225 in Japan fell 0.89% in early trade, while the Topix dipped 0.51%. The Bank of Japan is expected to keep rates at ultra-low levels, according to forecasts in a Reuters poll. Some Chinese airlines listed in Hong Kong will report earnings, along with electric vehicle maker BYD.

☆ Asia-Pacific markets mixed; South Korea economy grows slowest in year
▼ + stars: | 2022-10-27 | by ( Abigail Ng | ) www.cnbc.com time to read: 1 min

Shoppers at the shopping street in Hongdae district in Seoul, South Korea, on Saturday, July 2, 2022. Shares in the Asia-Pacific were mixed Thursday as investors digest economic data in the region. The MSCI's broadest index of Asia-Pacific shares outside Japan was 0.51% higher. South Korea's third-quarter GDP grew 0.3% from the previous quarter, according to official advance data – the slowest growth since the third quarter of 2021. China is due to report industrial profits for September and the Bank of Japan begins its two-day meeting on monetary policy Thursday.

☆ Australia inflation hits highest in 32 years; Asia-Pacific markets rise
▼ + stars: | 2022-10-26 | by ( Abigail Ng | ) www.cnbc.com time to read: 1 min

Shares in the Asia-Pacific rose Wednesday as sentiment overnight improved over the Fed potentially turning less aggressive. In Australia, the S&P/ASX 200 rose 0.34% ahead of the report before trading almost flat. The Nikkei 225 in Japan rose 0.87% in early trade, and the Topix gained 0.79%. MSCI's broadest index of Asia-Pacific shares outside Japan ticked marginally higher. In corporate news, Standard Chartered, Ping An , and SK Hynix are among the companies slated to report earnings Wednesday.

☆ LG Energy Solution swings to Q3 profit on strong EV battery demand, beats estimates
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +1 min

SEOUL, Oct 26 (Reuters) - Tesla Inc supplier LG Energy Solution Ltd (LGES) (373220.KS) on Wednesday swung to a profit in the third quarter on the back of strong electric vehicle (EV) battery demand and favourable foreign exchange rates. South Korea's LGES, which also sells EV batteries to automakers including General Motors Co (GM.N), Ford Motor Co (F.N) and Volkswagen AG (VOWG_p.DE) among others, reported operating profit of 522 billion won ($365.12 million)for the July-September period, compared with a 373 billion won loss a year earlier and a Refinitiv SmartEstimate of 488 billion won profit drawn from 17 analysts. Revenue for the quarter rose 90% to 7.6 trillion won, LGES said in a regulatory filing. Shares of LGES, carved out of LG Chem Ltd (051910.KS) in a market debut in January, were trading up 1.8% in morning trade, versus the benchmark KOSPI's (.KS11) 0.3% rise. ($1 = 1,429.6500 won)Reporting by Heekyong Yang and Jihoon Lee; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

☆ Asia-Pacific markets mostly rise after Wall Street's second positive session
▼ + stars: | 2022-10-25 | by ( Abigail Ng | ) www.cnbc.com time to read: 1 min

A man walks past the Tokyo Stock Exchange (TSE), operated by Japan Exchange Group Inc. (JPX), in Tokyo, Japan, on Monday, Nov. 30, 2020. Stocks in the Asia-Pacific rose in early trade Tuesday after Wall Street's second straight positive session. South Korea's Kospi was just above the flatline, while the Kosdaq gained 0.44%. The MSCI's broadest index of Asia-Pacific shares outside Japan ticked up 0.14%. Singapore is due to release inflation data on Tuesday, while HSBC is reporting earnings.

"The impact of the Inflation Reduction Act on Hyundai's EV sales in the U.S. market seems inevitable as EV incentives are the key factor to U.S. EV shoppers," Lee Jae-il, an analyst at Eugene Investment & Securities. In a mixed outlook, Hyundai raised on Monday its full-year revenue growth forecast range by six percentage points to 19-20% from its previous estimate in January. Reuters GraphicsThe provision, announced last week, amounted to more than half of estimated third-quarter net profit of 2.4 trillion won drawn from 17 analysts. Revenue for the quarter jumped 31% to 37.7 trillion won, above the 36 trillion won analysts had expected. But overall vehicle supply remains tight globally due to the chip shortage and COVID-related restrictions.

But in a mixed outlook, the company slashed its 2022 vehicle sales forecast by 7% to 4.01 million, as the auto industry struggles with supply chain disruptions involving chips and other components. Despite that upheaval, the company raised its full-year revenue growth forecast range by six percentage points to 19-20% from its previous estimate in January. The provision, announced last week, amounted to more than half of estimated third-quarter net profit of 2.4 trillion won drawn from 17 analysts. Revenue for the quarter jumped 31% to 37.7 trillion won, below the 36 trillion won analysts had expected. But overall vehicle supply remains tight globally due to the chip shortage and COVID-related restrictions.

☆ Asia-Pacific markets rise; Japan's yen weakens despite reports of intervention
▼ + stars: | 2022-10-24 | by ( Abigail Ng | ) www.cnbc.com time to read: 1 min

The Tokyo Stock Exchange (TSE), operated by Japan Exchange Group Inc. (JPX), in Tokyo, Japan, on Thursday, Oct. 29, 2020. Shares in the Asia-Pacific climbed Monday after U.S. stocks soared on Friday following a Wall Street Journal report that some Fed officials are concerned about tightening policy too much. MSCI's broadest index of Asia-Pacific shares outside Japan was 0.7% higher. Authorities in Japan reportedly intervened in the forex market on Friday, causing the yen to strengthen sharply. On Monday in Asia, the currency briefly strengthened to 145-levels but was last at 148.27 per dollar.

☆ China GDP: 2022 Q3 data stronger-than-expected after Xi Jinping secures third term in power
▼ + stars: | 2022-10-23 | by ( Laura He | ) edition.cnn.com time to read: +2 min

Hong Kong CNN Business —China released stronger-than-expected GDP and other economic data on Monday, just a day after Xi Jinping clinched a historic third term in power following the conclusion of a major political gathering. But Hong Kong’s Hang Seng (HSI) Index, a key gauge of overseas investor sentiment on China, tumbled at Monday’s open and headed for its biggest losses in more than seven months. On Monday, Hong Kong’s benchmark Hang Seng Index opened down and sank 4.6% in early trading, poised for its biggest daily decline since March. The Hang Seng Tech Index, which tracks 30 largest technology firms listed in Hong Kong, plunged nearly 6%. Meanwhile, the Shanghai Composite Index, which trades on the tightly controlled domestic market in China, dropped 0.5%.

☆ Asia-Pacific markets slip as investors weigh inflation data; yen at 150-levels
▼ + stars: | 2022-10-21 | by ( Abigail Ng | ) www.cnbc.com time to read: 1 min

A customer in front of a drugstore in Tokyo, Japan, on Wednesday, Oct. 19, 2022. Shares in the Asia-Pacific traded lower on Friday as investors await inflation data from several economies. The Nikkei 225 in Japan slipped 0.24% in early trade and the Topix lost 0.33%. Japan's yen weakened further to touch 150.28 overnight after hitting 150 against the dollar on Thursday. Japan's core consumer prices for the month of September rose 3% compared to a year ago, while Hong Kong and Malaysia are slated to release its inflation data later in the day.

☆ Chinese stocks tumble to multi-year lows in New York and Hong Kong amid party congress
▼ + stars: | 2022-10-20 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN Business —Chinese stocks have hit multi-year lows in New York and Hong Kong amid growing concerns about China’s rising Covid cases and economic outlook. In Hong Kong, the benchmark Hang Seng (HSI) Index tumbled as much as 3% in Thursday’s morning trade. The fall comes just a day after the city’s leader, Chief Executive John Lee, promised to invest billions of dollars to bring global talent and businesses back to Hong Kong. The heavy decline followed a sharp sell-off in Chinese stocks listed on Wall Street overnight. “China’s National Party Congress failed to drive a positive catalyst, ” said Yeap Jun Rong, a market strategist for IG Group, on Thursday.

☆ Asia-Pacific markets trade lower; China's offshore yuan hits record low overnight
▼ + stars: | 2022-10-20 | by ( Abigail Ng | ) www.cnbc.com time to read: 1 min

An employee works at the Tokyo Stock Exchange (TSE), operated by Japan Exchange Group Inc. (JPX), in Tokyo, Japan, on Thursday, Jan. 13, 2022. Shares in the Asia-Pacific traded lower on Thursday as economic fears weigh. The MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.37%. The offshore yuan touched a record low against the U.S. dollar overnight, weakening to 7.2745 per dollar. The Japanese yen reached yet another fresh 32-year low of 149.90 against the greenback, and was last at 149.85.

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