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☆ Investors jump into equities and bonds in Goldilocks scenario - BofA
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +2 min

LONDON, Jan 13 (Reuters) - Investors poured money into equity and bond funds and moved money out of gold in the week to Wednesday, according to BofA Global Research, taking heart from a string of positive data points and policy changes. Bofa also pointed to the impact of China reopening its borders after COVID-19 restrictions, lower EU energy prices and encouraging U.S. fiscal and labour market data, as all factors behind the moves. The report found there were weekly flows into funds investing in bonds ($17.5bn), cash ($8.3bn), and stocks ($7.2bn), and out of gold ($0.4bn). BofA also said there were the largest inflow to investment grade bonds since July 21 ($10.4bn), and the largest inflow to emerging market debt and emerging market stocks since April 22 ($3.6bn). "Flows show the chase is on," said BofaReporting by Alun John, editing by Lucy Raitano and Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.

☆ Asian shares subdued, dollar steady, focus on U.S. CPI data
▼ + stars: | 2023-01-11 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

SINGAPORE, Jan 11 (Reuters) - Asian equities edged higher on Wednesday, while the dollar steadied as investors braced for U.S. inflation data that will influence the Federal Reserve's interest rate policy. JPMorgan Chase & Co (JPM.N) Chief Executive Officer Jamie Dimon said heightened economic uncertainties might encourage the Federal Reserve to raise interest rates to 5%. In the foreign exchange market, the Australian dollar was 0.3% higher after data showed the annual pace of inflation had increased to 7.3% in November. The dollar index , which measures the dollar against six major currencies, rose 0.058% to 103.31, hovering close to seven-month low. The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was down 1.7 basis points at 4.241%.

☆ Asia shares dip on hawkish Fed remarks; commods rise on China reopening
▼ + stars: | 2023-01-10 | by ( Selena Li | ) www.reuters.com time to read: +3 min

"The main theme overnight was cautiousness in the equity space as stocks pared gains after hawkish comments from two Fed officials. The dollar index fell 0.068%. read moreChina's reopening buoyed sentiment with its stocks rising for a sixth consecutive session on Monday, while Hong Kong shares jumped to a six-month high. However, any optimism may be short-lived, said Trinh Nguyen, emerging Asia economist at Natixis in Hong Kong. Even in Hong Kong, although it is officially open, the visa issuance has been rather slow," Nguyen said.

☆ Asia shares up on Fed rate wagers, China reopening lifts yuan
▼ + stars: | 2023-01-09 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 2.0% to a five-month top, with South Korean shares (.KS11) gaining 2.2%. Japan's Nikkei (.N225) was closed for a holiday but futures were trading at 26,215, compared with a cash close on Friday of 25,973. Earnings season kicks off this week with the major U.S. banks, with the Street fearing no year-on-year growth at all in overall earnings. "China reopening is one upside risk to 2023 EPS, but margin pressures, taxes, and recession present greater downside risks." Fed fund futures now imply around a 25% chance of a half-point hike in February, down from around 50% a month ago.

☆ Asia shares rise on U.S. rate bets, China reopening
▼ + stars: | 2023-01-09 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 1.5% to a five-month top, with South Korean shares (.KS11) gaining 2.1%. S&P 500 futures added 0.2% and Nasdaq futures 0.3%. EUROSTOXX 50 futures added 0.5%, while FTSE futures firmed 0.4%. "China reopening is one upside risk to 2023 EPS, but margin pressures, taxes, and recession present greater downside risks." The market scaled back bets on rate hikes for the Federal Reserve.

[1/5] Passengers push their luggage through the international arrivals hall at Beijing Capital International Airport after China lifted the coronavirus disease (COVID-19) quarantine requirement for inbound travellers in Beijing, China January 8, 2023. China's management of COVID was technically downgraded to "Category B" on Sunday, although many curbs have been dropped for weeks. Officially, China has reported just 5,272 COVID-related deaths as of Jan.8, one of the lowest rates of death from the infection in the world. State broadcaster CCTV reported on Sunday that direct flights from South Korea to China were close to sold out. South Korea like many other countries now requires travellers from China, Macau and Hong Kong to provide negative COVID test results before departure.

☆ 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.

☆ Morning bid: Look who's back
▼ + stars: | 2023-01-06 | by ( ) www.reuters.com time to read: +3 min

[1/2] A trader works on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., January 5, 2023. Payrolls data due later on Friday are the major factor that will underscore this week's move, or undermine it. A Reuters poll of economists expects an increase of 200,000 jobs last month, after rising 263,000 in November. German 10-year bond yields , which serve as a benchmark for the broader euro zone, have fallen by almost 30 bps this week thanks to lower inflation data in several European markets. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ China property shares rise on easing of mortgage rules for some buyers
▼ + stars: | 2023-01-06 | by ( ) www.reuters.com time to read: +1 min

HONG KONG, Jan 6 (Reuters) - Shares of Chinese property developers climbed on Friday, lifted by more state support measures to bolster the highly indebted sector as China prepares to reopen its pandemic-hit economy. The property sector, which accounts for a quarter of China's massive economy, was badly hit last year after developers were unable to finish building projects that led to mortgage boycotts by some home buyers. Lockdowns and movement control measures to control the spread of COVID-19 also hurt buyer sentiment. The housing authorities also vowed to give strong support to first-time home buyers by allowing smaller down payments and cutting mortgage interest rates. Reporting by Clare Jim and Donny Kwok; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

More than 30 mutual funds launched this week, mostly equity-focused, offering vehicles for recovery bets. Yang Delong, chief economist at First Seafront Fund Management expects China's economic growth to exceed 5% this year as COVID curbs are scrapped. Cao Ludi, fund manager at Fullgoal Fund Management, predicts an "N-shaped" economic recovery, as an expected Spring revival in activity will likely succumb to a harsh reality check in the second quarter. She advised against chasing the high-flying real estate and tourism stocks, as their "fundamentals remain a question mark." This should mean economic recovery by the second quarter, if not earlier."

☆ Asia stocks hit 4-month high on reopening of Chinese economy
▼ + stars: | 2023-01-05 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 1% to touch a four-month high in morning trade. China has abruptly dropped ultra-strict curbs on travel and activity, unleashing the virus on the nation's 1.4 billion people. The yuan rose about 0.2% to 6.8750 on Thursday. China has partially eased an unofficial ban on Australian coal imports and the Australian dollar made a three-week high overnight just below $0.69. In Europe, unseasonally warm weather has disappointed skiers but been a boon for a euro basking in falling gas prices.

☆ Asian equities rise, dollar sways as focus firmly on Fed minutes
▼ + stars: | 2023-01-04 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 0.91%, set for a third straight day of gains for the year. The index fell 20% in 2022. Japan's Nikkei (.N225) lost 1.12% in early trade, while Australia's S&P/ASX 200 index (.AXJO) rose 1.28%. The dollar index , which measures the greenback against six other currencies fell 0.162% after rising 1% overnight. The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was down 3.7 basis points at 4.368%.

☆ Asia shares weigh China risks, yen hits 6-month high
▼ + stars: | 2023-01-03 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) edged up 0.5%, having been down more than 1.0% in choppy early trading. Nikkei futures were trading at 25,750 compared with the last close for the cash index (.N225) of 26,094. Wall Street was in a guarded mood, with S&P 500 futures and Nasdaq futures up 0.1%. Such a move at its next policy meeting on Jan. 17-18 would only add to speculation of an end to ultra-loose policy, which has essentially acted as a floor for bond yields globally. The policy shift boosted the yen across the board, with the dollar losing 5% in December and the euro 2.3%.

☆ Asia shares skid on China woes, yen hits 6-month high
▼ + stars: | 2023-01-03 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell another 1.3%, having lost a fifth of its value last year. The cautious mood spread to Wall Street, with S&P 500 futures off 0.4% and Nasdaq futures 0.6% lower. EUROSTOXX 50 futures fell 1.4% and FTSE futures 0.8%. The policy shift boosted the yen across the board, with the dollar losing 5% in December and the euro 2.3%. Brent lost 74 cents to $85.17 a barrel, while U.S. crude fell 62 cents to $79.64 per barrel.

The dollar, a beneficiary of rising U.S. interest rates, was on track for its best annual performance in seven years. The dollar index , which measures the greenback against six major currencies, fell 0.4% to a two-week low. Sterling was set for its worst performance against the dollar since 2016, when Britain voted to leave the European Union. U.S. Treasuries and German bonds, the benchmarks of global borrowing markets, lost 16% and 24% respectively in dollar terms this year as rates rose. Ten-year German Bund yields rose 4 bps to 2.51% and two-year yields hit their highest since 2008 after data showing Spanish core inflation rose in December.

The dollar, a beneficiary of rising U.S. interest rates, was on track for its best annual performance in seven years. The dollar index , which measures the greenback against six major currencies, dipped 0.16%. Sterling was set for its worst performance against the dollar since 2016, when Britain voted to leave the European Union. "Averting a downturn is a tall order," said Vishnu Varathan, head of economics and strategy at Mizuho Bank, noting that the odds are stacked against economies emerging unscathed from global policy tightening. U.S. Treasuries and German bonds, the benchmarks of global borrowing markets, lost 16% and 24% respectively in dollar terms this year.

☆ Asia stocks gain as investors find foothold at end of brutal 2022
▼ + stars: | 2022-12-30 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 0.71%, but is set to end the year down 19% - its worst performance since 2008. Reuters GraphicsFutures indicated European stocks were unlikely to retain the end-of-year cheer, with the Eurostoxx 50 futures down 0.16%, German DAX futures 0.13% lower and FTSE futures down 0.01%. China's blue-chip CSI 300 Index (.CSI300) and the Shanghai Composite Index (.SSEC) were both up 0.6%, while Hong Kong's Hang Seng Index (.HSI) rose nearly 1%. In the currency market, the U.S. dollar was on track for its best annual performance in seven years. Sterling was set for its worst performance against the dollar since 2016, when the UK voted to leave the European Union.

☆ Asia stocks rise as investors find foothold at end of brutal 2022
▼ + stars: | 2022-12-30 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 0.71% and was set to end December flat. The index is set to end the year down 19% - it's worst performance since 2008. Japan's Nikkei (.N225) rose 0.22%, while Australia's S&P/ASX 200 index (.AXJO) rose 0.34%. China stocks (.SSEC) were 0.63% higher, while Hong Kong's Hang Seng Index (.HSI) rose 1.5%. Sterling was set for its worst performance against the dollar since 2016, when the UK voted to leave the European Union.

☆ Asian shares slip as COVID surge in China makes investors uneasy
▼ + stars: | 2022-12-29 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

SINGAPORE, Dec 29 (Reuters) - Asian equities weakened slightly on Thursday as soaring COVID cases in China unsettled investors and cast doubt over chances of a swift recovery for the world's second biggest economy after the relaxation of stringent COVID curbs. Around half the passengers on two flights from China to Milan's main airport, Malpensa, tested positive for COVID on Wednesday. China shares (.SSEC) fell 0.3%, while Hong Kong's stock market (.HSI) slid 1%. State Street's Investor Confidence Index, which analyses buying and selling patterns of institutional investors, fell to 75.9 in December, the lowest since the pandemic began three years ago. The yield on 10-year Treasury notes was down 2.2 basis points to 3.864%, not far off six-week high of 3.89%.

☆ Asian shares skid as COVID surge in China unsettles investors
▼ + stars: | 2022-12-29 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was down 1.06%, and was set for a third straight week of losses. China shares (.SSEC) opened 0.4% lower, while Hong Kong's stock market (.HSI) fell 1%. The Fed raised interest rates by 50 bps earlier in December after delivering four consecutive 75 bps hikes but has said it may need to keep higher interest rates for longer. The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was down 1 basis point at 4.349%. Surging COVID cases in China has raised doubts over a fast recovery in fuel demand in the world's second-biggest oil consumer.

☆ Asian shares slip as investors gauge China reopening policy
▼ + stars: | 2022-12-28 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

SINGAPORE, Dec 28 (Reuters) - Asian equities were subdued on Wednesday, while the dollar held firm, with investors looking for direction after China took further steps towards reopening its COVID-battered economy. The yield on 10-year Treasury notes was down 0.9 basis points at 3.849%, hovering around the five-week high of 3.862% it touched in the previous session. The yield on the 30-year Treasury bond was down 2.3 basis points at 3.920%, while the two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was down 1.9 basis points at 4.349%. "The spring salary negotiation next year is the most important to watch for further meaningful policy change for the Bank of Japan." The dollar index , which measures the safe-haven greenback against six major currencies, rose 0.077%.

☆ Asian shares slide as fears over hawkish Fed mount
▼ + stars: | 2022-12-23 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

SINGAPORE, Dec 23 (Reuters) - Asian shares eased on Friday, tracking a dive on Wall Street, while the dollar firmed as strong U.S. data revived fears the Federal Reserve will have to retain its hawkish stance to tame inflation. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) slid 0.69%, snapping a two-day winning streak. Australia's S&P/ASX 200 index (.AXJO) lost 1.01%, while Japan's Nikkei (.N225) opened 1% lower. The data from the United States "flamed fears that further monetary policy tightening in 2023 will be necessary to cool inflation," said Tony Sycamore, a market analyst at IG. The dollar index , which measures the greenback against six other currencies, fell 0.057% to 104.32.

Japan's Nikkei Stock Index (.N225) shed 2.2% after trading in positive territory earlier in the day, as stocks resumed trading following the BOJ decision. The dollar dropped 2.43% against the yen to 133.62 after the BOJ decision, hitting a four-month low. In early European futures trading, the pan-region Euro Stoxx 50 futures were down 0.89% at 3,784, German DAX futures were down 0.91% at 13,888, FTSE futures were down 0.63% at 7,321. U.S. stock futures, the S&P 500 e-minis , were down 0.52% at 3,825.5. In Asian trading, the yield on benchmark 10-year Treasury notes rose to 3.6752% compared with its U.S. close of 3.583% on Monday.

☆ Asian markets mostly weaker as investors question China reopening
▼ + stars: | 2022-12-20 | by ( Scott Murdoch | Thomson Reuters | Scott Murdoch Has Been A Journalist For More Than Two Decades Working For Thomson Reuters | ) www.reuters.com time to read: +4 min

China is pushing on with easing restrictions after three years of COVID-19 lockdowns which is leaving to investors to question how financial markets will react to the reopening. "Once they do reopen, there will be positive sentiment and China will become a growth story for the world again." Australian shares (.AXJO) on Tuesday were down 0.72%, while Japan's Nikkei stock index (.N225) rose 0.34%. In Asian trading, the yield on benchmark 10-year Treasury notes rose to 3.5993% compared with its U.S. close of 3.583% on Monday. "The subsequent hawkish Fed policy update remains fresh in the minds of investors," NAB analyst wrote on Tuesday.

☆ Rising interest rates give pause to festivity for markets
▼ + stars: | 2022-12-19 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

Japan's Nikkei (.N225) fell 1.1% and the yen , which rose about 0.4% to 136.20 per dollar, was the biggest mover in otherwise quiet currency trade. Japan will consider revising a 2% inflation target agreed between the government and central bank next year, four sources familiar with the matter told Reuters. The yen has been the worst-performing G10 currency this year, with a 15% loss against the dollar, driven mainly by the gap between rising U.S. rates and anchored Japanese rates. U.S. rates were steady last week, despite the Fed projecting further hikes ahead, as traders fret that interest rates are already high enough to start hurting economic growth. It is down 20% for the year and has failed in several attempts at sustainably trading above its 200-day moving average.

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