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☆ New BOJ chief Ueda sticks to upbeat view on wages, global economy
▼ + stars: | 2023-04-14 | by ( Leika Kihara | ) www.reuters.com time to read: +2 min

"The BOJ's forecasts already take into account the chance of a global economic slowdown. But they don't see a severe global recession as a baseline projection," Ueda told a news conference on Thursday after attending the Group of 20 (G20) finance leaders' meeting in Washington. "As our base scenario is for global growth to pick up after a period of slowdown, Japan's wages will likely keep rising," he said. Markets are focusing on the BOJ's first policy meeting chaired by Ueda to be held on April 27-28, when the board will produce fresh quarterly growth and inflation forecasts extending through fiscal 2025. I'll think about it closely once I'm back," Ueda said, when asked about prospects for the April policy meeting.

☆ Stocks and gold cheer U.S. inflation picture, while dollar slides
▼ + stars: | 2023-04-13 | by ( Amanda Cooper | ) www.reuters.com time to read: +5 min

[1/2] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, March 10, 2023. The annual 5% headline rise for U.S. inflation was the smallest since May 2021 and down from 9.1% last June. The dollar index was down 0.2%, near its lowest in two months, while U.S. stock futures , rose 0.1-0.2%, suggesting a modest rally at the open. The Aussie dollar rose 0.6% on the back of surprise surges in both Chinese exports, which rose 14.8% compared with last March, and domestic Australian jobs. Alibaba shares (9988.HK) fell by as much as 5% at one stage, but later pared losses to close 2% lower.

☆ Australia's robust March employment suggests RBA may hike again
▼ + stars: | 2023-04-13 | by ( Stella Qiu | ) www.reuters.com time to read: +3 min

REUTERS/Steven Saphore/File PhotoSummary Strong employment, jobless near 50-year lows keep RBA on alertFull-time employment surges, positive for household incomeData suggests strong Q1 inflation, see RBA hike again -analystSYDNEY, April 13 (Reuters) - Australia employment blew past expectations for a second month in March while the jobless rate held near 50-year lows, an unambiguously strong report that suggests the central bank's tightening campaign may not be over yet. Figures from the Australian Bureau of Statistics showed on Thursday net employment rose 53,000 in March from February, when they rebounded by a steep but slightly downwardly revised 63,600. The jobless rate stayed at 3.5%, when analysts had looked for a nudge up to 3.6%. Full-time employment surged by 72,200, after a hefty increase of 74,900 the previous month, an encouraging sign for household income. Reporting by Stella Qiu and Wayne Cole; Editing by Muralikumar Anantharaman and Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

☆ Tech drags Hong Kong stocks, dollar squeezed as US inflation slows
▼ + stars: | 2023-04-13 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

SINGAPORE, April 13 (Reuters) - Asian stocks struggled on Thursday, dragged by selling in Hong Kong tech shares, while the dollar was under pressure and short-dated bonds were firm as softening U.S. inflation seemed to suggest the U.S. rate hike cycle was nearing its end. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) slid 0.3%, largely pressured by a 1.5% drop in Hong Kong tech stocks (.HSTECH) in the wake of the Financial Times reporting SoftBank was selling down its Alibaba stake. Alibaba shares (9988.HK) were down 3% in early trade and SoftBank (9434.T) shares flat and neither immediately responded to Reuters enquiries. Elsewhere oil prices held sharp gains made in the wake of the inflation data, with Brent crude futures steady at $87.22 a barrel. Shares of embattled Chinese property developer Sunac China (1918.HK) resumed trade after a more than year-long suspension in Hong Kong, with the company in the midst of a debt restructure.

☆ US Senator Feinstein will step down temporarily from Judiciary Committee
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +1 min

Senator Feinstein, recuperating from a bout of shingles and facing calls from fellow Democrats to resign, said on Wednesday her return to the Senate has been delayed and she would temporarily step down from the Judiciary Committee. “I intend to return as soon as possible once my medical team advises that it’s safe for me to travel," Feinstein said. She said "my absence could delay the important work of the Judiciary Committee" and has asked to step down until she is able to resume work. U.S. Senate Democratic Leader Chuck Schumer will grant Feinstein's request and ask the Senate next week to allow another Democratic senator to temporarily serve on the committee, a Schumer spokesperson said in a statement. Feinstein, who will not run when up for reelection in 2024, is currently the oldest serving U.S. senator.

☆ Cyclone Ilsa hits Australia's northwest, misses iron ore export hub
▼ + stars: | 2023-04-13 | by ( Renju Jose | ) www.reuters.com time to read: +2 min

SYDNEY, April 14 (Reuters) - A tropical cyclone smashed into Australia's northwest coast as a category 5 storm, setting new wind speed records, but has largely spared populated regions including the world's largest iron ore export hub at Port Hedland, authorities said on Friday. "Port Hedland ... escaped the brunt of the cyclone at this stage. "As it moves inland and the sun comes up, we can expect it to still be a severe tropical cyclone," the weather bureau's hazard response manager Shenagh Gamble said. Ilsa is expected to weaken to a tropical low overnight and move into the southern parts of the Northern Territory. Destructive winds could hit the remote inland mining town of Telfer, where Newcrest Mining (NCM.AX) operates a fly-in-fly-out gold and copper mine.

☆ Taiwan says China's no-fly zone will affect around 33 flights
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +2 min

TAIPEI, April 13 (Reuters) - China's plan to set up a no-fly zone to the north of Taiwan on April 16 will affect about 33 flights, Taiwan's official Central News Agency (CNA) reported, citing the island's transport minister, Wang Kwo-tsai. The impact on flights was greatly reduced after Taiwan said it had successfully urged China to drastically narrow its plan to close air space north of the island, Wang was reported as saying. Reuters first reported that Beijing had initially notified Taipei it would impose a no-fly zone from April 16-18, but Taiwan's transport ministry said this was later reduced to a period of just 27 minutes on Sunday morning after it protested. Taiwan's transport ministry on Wednesday published a map showing what it labelled China's "aerospace activity zone" to the northeast of Taiwan and near a group of disputed islets called Diaoyu by China and Senkaku by Japan. Reporting By Yimou Lee and Ben Blanchard; Editing by Jacqueline Wong & Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

☆ IMF says more flexible BOJ yield control can prevent market whiplash
▼ + stars: | 2023-04-12 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

Under yield curve control (YCC), the BOJ guides the 10-year government bond yield around 0% as part of efforts to sustainably achieve its 2% inflation target. The central bank's decision in December to widen the tolerance band around the yield target has heightened market bets of a further near-term tweak or end to YCC. Changes to the BOJ's yield control policy may affect financial markets through exchange rates, term premiums on sovereign bonds and global risk premiums, the IMF said. While the yield control policy has helped keep borrowing costs low, it has come under increasing criticism for distorting market pricing and crushing financial institutions' profits. "Clear communication in the event of adjustments to the Bank of Japan's monetary policy is critical to avoid market volatility," it said.

[1/2] White House National Security Advisor Jake Sullivan speaks during a daily press briefing at the White House in Washington, D.C., U.S., November 10, 2022. REUTERS/Tom BrennerWASHINGTON, April 11 (Reuters) - U.S. national security adviser Jake Sullivan spoke with Saudi Arabia's Crown Prince Mohammed bin Salman on Tuesday and discussed Iran and steps aimed at ending the war in Yemen, the White House said. The foreign ministers of Iran and Saudi Arabia met in Beijing last week after agreeing to end their diplomatic rift following years of hostility that fuelled conflicts across the Middle East. Mr. Sullivan reaffirmed President (Joe) Biden’s unwavering commitment to ensure Iran can never acquire a nuclear weapon," the White House said in a statement late on Tuesday. Yemen's war is seen as one of several proxy battles between Iran and Saudi Arabia.

☆ Taiwan says 14 Chinese air force planes crossed Taiwan Strait median line
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: 1 min

TAIPEI, April 12 (Reuters) - Taiwan's defence ministry said on Wednesday that in the past 24 hours 14 Chinese air force planes crossed the Taiwan Strait's median line, which normally serves as an unofficial barrier between the two sides. Reporting by Ben Blanchard and Yimou Lee Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

April 12 (Reuters) - A "firing incident" killed four people at a military station in the Indian border state of Punjab early on Wednesday, the army said, adding that a search operation was ongoing. An unknown number of shooters were still at large at the Bathinda military station and had ammunition on them, a defence source told Reuters, declining to be named citing the sensitivity of the matter. The incident took place at 4:35 a.m. (2305 GMT), the statement said. The military station, located about six hours north of New Delhi, houses mostly families of soldiers and is a residential army base. Reporting by Krishn Kaushik; writing by Shilpa Jamkhandikar Editing by Christian Schmollinger and Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

The firm debut by Harita Nickel could boost sentiment surrounding upcoming IPOs in Indonesia, which is one of the world's hottest IPO markets this year on a drive by the government to privatise some state-owned enterprises. Harita Nickel's stock opened at 1,285 rupiah per share, slightly higher than its initial public offering (IPO) price of 1,250 rupiah a share, on the Indonesian stock exchange. The IPO comes at a time when nickel-rich Indonesia steps up efforts to become a major player in the electric vehicle industry. Harita Nickel's peer Merdeka Battery Materials is scheduled to debut on the local bourse next, on April 18, after raising 8.75 trillion rupiah. Harita Nickel's IPO was the largest in Indonesia in almost a year after the $1.1 billion listing of tech firm GoTo (GOTO.JK) in April.

☆ Credit Suisse job cuts must be frozen -bank employees leader says
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +2 min

ZURICH, April 11 (Reuters) - Credit Suisse (CSGN.S) and UBS (UBSG.S) must freeze any job cuts planned as part of their emergency merger, the Swiss Bank Employees' Association (SBPV) said on Tuesday, in an open letter to the country's parliament. The Swiss parliament is due to meet in extraordinary session on Tuesday to discuss the state-sponsored rescue of Credit Suisse which took place last month. "For the past three weeks, many of the approximately 17,000 employees at Credit Suisse and the 22,000 UBS employees have been looking at their future with uncertainty," said Ferrara, referring to the staff numbers in Switzerland. Credit Suisse employs 45,000 people globally, while UBS has 74,000 in total. "But the affected employees of the two banks remain only a side note.

☆ Credit Suisse job cuts must be frozen, Swiss Bank Employees' Association says
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +2 min

ZURICH, April 11 (Reuters) - Credit Suisse (CSGN.S) and UBS (UBSG.S) must freeze any job cuts planned as part of their emergency merger, the Swiss Bank Employees' Association (SBPV) said on Monday, in an open letter to the country's parliament. The Swiss parliament is due to meet in extraordinary session on Tuesday to discuss the state-sponsored rescue of Credit Suisse which took place last month. Credit Suisse employs 45,000 people globally, while UBS has 74,000 in total. "But the affected employees of the two banks remain only a side note. "Now it is time for the affected employees of the two banks to be given protection and respect," Ferrara wrote.

☆ Dollar pauses after strong gains on hawkish Fed bets; bitcoin hits $30,000
▼ + stars: | 2023-04-11 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

Leading cryptocurrency bitcoin briefly touched $30,000 for the first time since June. The U.S. dollar index - which measures the greenback against six major counterparts, including the yen - slipped 0.06% in early Asian trading, following a 0.39% advance at the start of the week. The consumer price index (CPI), due on Wednesday, will be the next major clue for Fed policy direction. The dollar index dropped to a two-month low of 101.40 on Wednesday. Bitcoin touched a fresh 10-month high at $30,000 in early Tuesday trade before last fetching $29,787, after breaking free of recent ranges on Monday.

☆ Asian shares muted, dollar buoyant on odds of rate rise
▼ + stars: | 2023-04-10 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 0.12% higher, while Japan's Nikkei (.N225) gained 0.5%. Traders have increasingly become convinced that the Fed will cut rates in the second half to ward off an economic downturn. The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, eased to 3.951%, after closing at 3.993% on Friday's abbreviated trading. A closely watched part of the U.S. Treasury yield curve measuring the gap between yields on two- and 10-year Treasury notes , seen as an indicator of economic expectations, was at -57.7 basis points. The yen weakened 0.41% to 132.69 per dollar as Japan's new central bank governor Kazuo Ueda takes over from Haruhiko Kuroda.

☆ Asian shares subdued as jobs data raises odds of Fed rate hike
▼ + stars: | 2023-04-10 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 0.14% higher, while Japan's Nikkei (.N225) gained 0.5%. China shares eased on Monday, with the bluechip CSI300 Index (.CSI300) 0.2% lower, while the Shanghai Composite Index (.SSEC) down nearly 0.3%. Markets are now pricing in 66% chance of the Fed raising interest rates by 25 basis points in its May 2-3 meeting, according to CME FedWatch tool. Traders have increasingly become convinced that the Fed will cut rates in the second half to ward off an economic downturn. In the currency market, the dollar index , which measures the U.S. currency against six major peers, rose 0.118% to 102.14.

☆ Russian forces step up strikes on two key Ukrainian cities
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +4 min

Russian forces have been besieging Bakhmut for months in the longest battle in more than a year of war. Ukraine's State Emergencies Service said a 50-year-old man and his daughter, 11, were killed after Russian forces struck a residential building in Zaporizhzhia, in the southeast. RUSSIAN ATTACKS REPELLEDMore than 40 enemy attacks had been repelled over the past 24 hours, Ukraine's general staff said. "In central Zaporizhzhia and southern Kherson region, enemy forces continued to build fortifications," it said. Ukrainian military analyst Oleh Zhdanov said Russian forces controlled the centre of Bakhmut, with much of their actions now focusing on the city's railway station.

☆ Rivals ByteDance's Douyin and Tencent reach cooperation agreement
▼ + stars: | 2023-04-07 | by ( ) www.reuters.com time to read: 1 min

[1/2] A logo of Tencent is seen at its booth at the 2020 China International Fair for Trade in Services (CIFTIS) in Beijing, China September 4, 2020. REUTERS/Tingshu WangBEIJING, April 7 (Reuters) - China's tech giants ByteDance's Douyin and Tencent have reached agreement recently to explore joint promotion of short and long videos, according to a statement on the WeChat account of Douyin on Friday. Reporting by Sophie Yu, Brenda Goh Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Just 14% say they have a great deal or "quite a lot" of confidence in the criminal justice system, half the level of a decade ago. Manhattan District Attorney Alvin Bragg's case is the first of several involving Trump as the country braces for a 2024 presidential election in which Trump is the leading Republican candidate. Trump himself has over the years complained that law enforcement was targeting him for political purposes, and his rhetoric has heightened since the New York case surfaced. On Wednesday, Trump called on his fellow Republicans in Congress to slash funding for the U.S. Justice Department and the FBI. "It's obvious the criminal legal system can punch down - it's proven that, and oppressively so," Ali said.

☆ India c.bank set to raise rates 25 bps on elevated inflation, keep hawkish stance
▼ + stars: | 2023-04-06 | by ( Swati Bhat | ) www.reuters.com time to read: +3 min

The central bank has already raised rates by 250 basis points since May last year. Core inflation, which excludes volatile food and energy components, was also expected to have stayed high between 6.05%-6.12% in February, according to estimates from three economists. "The policy space to focus on inflation is lent by domestic growth conditions holding-up, supported by urban consumption and services sector recovery," Sen Gupta said. Early signs of a slowdown in India are also visible in easing imports and plateuing bank credit demand. The Reuters Poll showed that a majority of respondents, 20 of 36, expect the central bank would maintain its 'withdrawal of accommodation' stance while the remaining 16 said it would shift to neutral.

MONTREAL, April 5 (Reuters) - Honeywell International (HON.O) on Wednesday will announce a first deal for its most powerful generator, which would power a European-Canadian startup's hybrid electric cargo airship. Multiple startups are working on electric or hybrid aircraft to meet aviation's long-term climate goals. Flying Whales would use four generators per airship. The French parent company Flying Whales SAS and its Quebec based subsidiary have raised 162 million euros ($177.57 million) over three financing rounds. The first flight of the LCA60T airship in France is expected in late 2025 with entry into service planned for 2027, Flying Whales said.

☆ Dollar mired near two-month low; Kiwi gains on RBNZ surprise
▼ + stars: | 2023-04-05 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

The kiwi rallied 1% to touch a two-month high of $0.6383 after the decision. The dollar index , which measures the currency against six peers, eased to a fresh two-month low of 101.43, after dropping 0.5% overnight. Markets were pricing in a 43% chance of Fed not raising interest rates a day earlier. "And the Fed may have to perhaps do more and keep rates high for longer." The yield on 10-year Treasury notes was up 1.3 basis points to 3.350%, having slipped 9 basis points overnight.

☆ Dollar struggles on weak data; Kiwi surges on RBNZ surprise
▼ + stars: | 2023-04-05 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

The kiwi rallied 1% to touch a two-month high of $0.6383 after the decision. Elsewhere, data overnight showed U.S. job openings dropped to their lowest level in nearly two years in February, suggesting that labour market conditions were finally easing. The dollar index , which measures the currency against six peers, eased to a fresh two-month low of 101.43, after dropping 0.5% overnight. In the U.S. bond market, the two-year Treasury yield, which typically moves in step with interest rate expectations, was up 2.6 basis points at 3.860%, after sliding 14 basis points on Tuesday. The yield on 10-year Treasury notes was up 1.8 basis points to 3.355%, having slipped 9 basis points overnight.

☆ Japan's March service-sector grows at fastest rate in over nine years - PMI
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +3 min

April 5 (Reuters) - Japan's services sector activity at the fastest pace in over nine years in March, a private sector survey showed on Wednesday, suggesting that the post-COVID bounce was gathering steam and providing some offset to a still-weak factory sector. The final au Jibun Bank Japan Services purchasing managers' index (PMI) rose to a seasonally adjusted 55.0 last month, from February's 54.0, marking the quickest rate of expansion since October 2013. The subindexes of new orders and overseas demand grew for a seventh month, rising at the fastest pace since February 2019 and December 2022, respectively. The subindex for employment expanded for a second month and at the fastest pace in ten months, as workloads and business expansion plans increased. The composite PMI, which combines the manufacturing and services figures, grew at the fastest pace since June 2022.

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