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The Hang Seng (HSNGY)closed 4% higher, notching its biggest one-day gain in three months. Brent crude, the benchmark for global oil prices, gained almost 1.6% to trade at $75.46 a barrel. Hang Seng reboundsIn Hong Kong, the two best-performing stocks were Chinese real estate developers Longfor Group (LNGPF) and Country Garden Services, soaring 17% and 12% respectively. Citing people familiar with the matter, Bloomberg reported Friday that China was working on such measures. Elsewhere in Asia, South Korea’s Kospi index ended the day 1.3% up, Japan’s Nikkei 225 was 1.2% higher, and the Shanghai Composite Index gained 0.8%.

Persons: Philip Jefferson, Joe Biden, “, ”, Richard Hunter, ” Dow, Germany’s DAX, DAX Organizations: London CNN — Global, US, Markets, Treasury, Interactive, Nasdaq, CAC, Brent, Longfor, Garden Services, Bloomberg, Nikkei Locations: Hong Kong, London, China, France, Qingdao, Asia, South, Shanghai

☆ Asian shares rise on debt bill progress, Fed pause hopes
▼ + stars: | 2023-06-02 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

SINGAPORE, June 2 (Reuters) - Asian stocks surged on Friday as the progress on the bill to raise U.S. debt ceiling and increasing hopes that the Federal Reserve might stand still on interest rates in its next meeting helped perk up investor appetite for risky assets. Harry Ottley, an economist at Commonwealth Bank of Australia, said the signs of slowing wage pressure has raised hopes that the Federal Reserve will pause raising interest rates in two weeks. Comments from Fed officials also helped embolden Fed pause hopes, with Philadelphia Federal Reserve President Patrick Harker saying U.S. central bankers should not raise interest rates at their next meeting. In early Asian hours, the two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was up 0.6 basis points at 4.347%, having slipped around 5 basis points on Thursday. The yield on 10-year Treasury notes was up 0.2 basis points to 3.610%, while the yield on the 30-year Treasury bond was down 0.6 basis points to 3.829%.

Persons: Chuck Schumer, Harry Ottley, CBA's Ottley, embolden, Patrick Harker, Harker, Sterling, Brent, Ankur Banerjee, Lincoln Organizations: Federal Reserve, U.S, Senate, Democratic, Treasury, Japan's Nikkei, Commonwealth Bank of Australia, Federal, Traders, U.S . House, Labor, Philadelphia Federal, Nasdaq, Thomson Locations: SINGAPORE, Washington, Asia, Pacific, Japan, China, Shanghai, U.S

☆ Hong Kong's Hang Seng jumps 3% led by gains in tech stocks
▼ + stars: | 2023-06-02 | by ( Lee Ying Shan | ) www.cnbc.com time to read: 1 min

Hong Kong spent more than HK$600 billion ($76.44 billion) on various pandemic relief programs for the past three years, forcing it to run rare budget deficits. Hong Kong's Hang Seng index was up 3% in its first hour of trade, leading gains in the wider region. The technology sector led the rally with stocks like Baidu, JD.com and Alibaba all up about 4%. The Kospi added 0.69% as South Korea's consumer inflation for May cooled to a 19-month low, easing for the fourth straight month. Mainland China's Shanghai Composite added 0.24% and the Shenzhen Component was down 0.67%.

Organizations: HK, Baidu, Nikkei, Shenzhen Component Locations: Hong Kong, Australia, Mainland, Shanghai

People are reflected in an electronic quotation board displaying the 225-issue Nikkei Stock Average (top) as they cross a street in Tokyo on May 17, 2023. (Photo by Kazuhiro NOGI / AFP) (Photo by KAZUHIRO NOGI/AFP via Getty Images)Asia-Pacific markets were mostly higher on Thursday ahead of a final vote on the bill to raise the U.S. debt ceiling after it passed a key procedural hurdle in the House overnight. Private surveys for factory activity data for China, Japan, South Korea as well as several Asean countries will be released later today. In Japan, the Nikkei 225 saw a 0.18% gain after it retreated from the 31,000 mark on Wednesday, with the Topix also up by 0.22%. HSI futures stood at the lowest the index has been since Nov 28, 2022.

Persons: Kazuhiro NOGI, KAZUHIRO NOGI, Australia's Organizations: Nikkei, Getty Images, Asean Locations: Tokyo, AFP, Asia, Pacific, China, Japan, South Korea

☆ Morning Bid: China factory fright, dollar surges
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +4 min

The yuan , now down more than 3% from its early May peaks, skidded to its lowest level of the year against the dollar as investors considered the possibility of further credit easing by the Chinese central bank. The dollar index hit its highest level since mid-March, with the European inflation news and China demand picture knocking the euro to its lowest in two months too. German import prices fell at an annual rate of 7% in April and the ECB's financial stability report warned about a "disorderly" hit to house prices from higher mortgage rates. The House Rules Committee voted 7-6 on Tuesday to approve the rules allowing a debate and vote by the full chamber. Overall, stock markets slipped back slightly - with Hong Kong's Hang Seng index the big underperformer after the Chinese factory release.

Persons: Mike Dolan, Loretta Mester, Philip Jefferson, Susan Collins, Patrick Harker, Christine Lagarde, Jane Merriman Organizations: Federal Reserve, Cleveland Fed, Wednesday's Financial, European Central Bank, Dallas Fed, Boston, Philadelphia Fed, Consumer, Thomson, Reuters Locations: U.S, Europe, China, Italy, Chicago

Asia-Pacific markets are set to fall as Wall Street considered the likelihood of Congress passing a tentative deal on raising the U.S. debt ceiling amid growing opposition within the GOP on the tentative deal that House Speaker Kevin McCarthy and U.S. President Joe Biden agreed over the weekend. Australia will publish its seasonally adjusted April inflation figures, and a rate decision from Thailand's central bank, among others. In Australia, futures for the S&P/ASX 200 were at 7,187, lower than the index's last close of 7,209.3, ahead of its unemployment figures for April. Economists polled by Reuters expect the country's weighted inflation rate in April to slow slightly to 6.4%. Hong Kong's Hang Seng index is set to fall further despite a late rally in Tuesday session, with futures at 18,260 compared to the HSI's close of 18,595.78.

Persons: Kevin McCarthy, Joe Biden Organizations: GOP, Nikkei, Reuters Locations: Asia, Pacific, Australia, Thailand's, Japan, Chicago, Osaka, 31,328.160

But the dollar and European stocks slipped, dented by uncertainty about whether Congress will approve the deal after a handful of hard-right Republican lawmakers said on Monday they would oppose the bill, though it is expected to pass. The pan European STOXX 600 index (.STOXX) fell 0.2% after recording on Friday its biggest weekly decline in two months. U.S. 10-year bond yields dropped 9.7 basis points to 3.72%, while 30-year yields fell 8 bps to 3.89%. The dollar index , which measures the greenback against six peers, fell 0.26% at 104.03 after rising to a two-month high in earlier trading. Elsewhere, euro zone bond yields fell after Spanish inflation data came in lower than expected, raising hopes that the European Central Bank may raise interest rates less than previously feared.

☆ Asian stocks dip as investors question consequences of US debt deal
▼ + stars: | 2023-05-30 | 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

The package still has to be approved by the Republican-controlled House of Representatives and Democratic-controlled Senate before the debt limit is reached, likely by next Monday. The bond market is implying there is an extreme 70% probability on a U.S. recession in the next year. Australian shares (.AXJO) were down 0.11% while the Nikkei stock index (.N225) rose 0.36%, after the Japanese benchmark hit a 33-year high on optimism over the U.S debt deal and a weaker yen, which helps the country's exporters. Benchmark 10-year yields dropped 6 basis points during Asian trade to 3.7616% while thirty-year yields fell 6.3 bps to 3.9134%. With the debt deal heading to Congress for approval, JB Were analysts said there could be up to $600 billion worth of bill issuance in the next six to eight weeks.

In Asian trade, longer-dated U.S. Treasuries rallied on Tuesday as bond traders welcomed the deal to suspend Washington's borrowing limit. "There's still a huge disconnect between bond markets and equities. The deal suspends the debt ceiling until January 2025 in exchange for caps on spending and cuts in government programmes. While U.S cash markets were closed on Monday, S&P 500 e-minis were up 0.32%, reflecting the positive reaction to the debt deal. With the debt deal heading to Congress for approval, JB Were analysts said there could be up to $600 billion worth of bill issuance in the next six to eight weeks.

SYDNEY, AUSTRALIA - A person jogging passes the Sydney Opera House as the rising sun reflects off buildings in the central business district (CBD) on September 28, 2021 in Sydney, Australia. The U.S. Congress is set to vote on the legislation as early as Wednesday. Lawmakers have not signaled that they intended to return to Capitol Hill early to work on the deal. In Australia, futures for the S&P/ASX 200 were at 7,224, higher than the index's last close of 7,217.4. Hong Kong stocks meanwhile are set to touch new lows for the year, with Hang Seng index futures at 18,522, headed to mark a fifth straight session of losses.

☆ Stocks rise on US debt ceiling deal but China drags
▼ + stars: | 2023-05-29 | by ( Stella Qiu | ) www.reuters.com time to read: +5 min

S&P 500 futures rose 0.3% while Nasdaq futures firmed 0.5%. After weeks of negotiations, congressional Republican McCarthy and Biden agreed on Saturday to avert an economically destabilising default by suspending the $31.4 trillion debt ceiling until 2025. In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 0.2%, with falls in Chinese and Hong Kong shares offsetting gains seen elsewhere. U.S. shares rallied at the end of last week on hopes of a debt ceiling deal and bets on artificial intelligence firms. Elsewhere in the currency markets, the dollar index - a measure of the greenback against its major peers - was a touch lower at 104.17 as risk-sensitive currencies staged a rebound.

☆ Asian shares, US futures rise on debt ceiling deal
▼ + stars: | 2023-05-29 | by ( Stella Qiu | ) www.reuters.com time to read: +5 min

The positive news lifted S&P 500 futures 0.2% in Asia while Nasdaq futures firmed 0.4%. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) gained 0.3%, after a 1.1% drop the previous week. Two-year yields hit a 2-1/2 month high of 4.6390% on Friday on markets bets of higher Federal Reserve rates for longer. U.S. shares rallied at the end of last week on hopes of a debt ceiling deal and on optimism about artificial intelligence. However, it is still not too far from a two month high hit on Friday.

U.S. President Joe Biden hosts debt limit talks with House Speaker Kevin McCarthy (R-CA) in the Oval Office at the White House in Washington, U.S., May 22, 2023. Asia-Pacific markets are largely set to rise ahead after U.S President Joe Biden and congressional leaders reached a tentative deal to raise the debt ceiling over the weekend. The Nikkei previously reached 33-year highs last week, marking an intra-day high of 31,331.62 on May 23. In Australia, futures for the S&P/ASX 200 were at 7,245, higher than the index's last close of 7,154.8. Stocks in Hong Kong are set to buck the trend despite the overall optimism, with Hang Seng index futures at 18,536 compared to the HSI's close of 18,746.92.

(Photo by Ed JONES / AFP)Hong Kong's Hang Seng index led losses in Asia on Thursday, falling about 2% to close at 18,746.92 — the lowest level this year. Mainland Chinese markets also fell, with the Shanghai Composite down 0.11% to finish at 3,201.26, its lowest close in over four months. The Shenzhen Component closed 0.22% lower at 10,896.48 in its third straight day of losses. Australia's S&P/ASX 200 declined 1.07% to end at 7,136.9 and record its fourth straight day of losses. The index also hit its lowest level in about two months.

Persons: Ed JONES, Hong, Australia's Organizations: Lotte, Shenzhen Component, Bank of Korea, Nikkei Locations: Seoul, AFP, Asia, Shanghai, Pacific, Japan

☆ China thesis lurches from one lazy extreme to next
▼ + stars: | 2023-05-25 | by ( Pete Sweeney | Thomson Reuters | Asia Economics Editor Pete Sweeney Joined Reuters Breakingviews In Hong Kong In September Previously He Served As Reuters' Chief Correspondent For China Economy | ) www.reuters.com time to read: +4 min

HONG KONG, May 25 (Reuters Breakingviews) - Foreigners that once piled into offshore Chinese equities are evacuating as confidence in the country’s economic recovery sags. The China trade has always been unbalanced towards overseas-listed Chinese consumer and internet firms, and foreigners preferred building factories, acquiring large stakes in companies and the like over portfolio trading. Even at a peak in 2021, they held barely over 8 trillion yuan ($1.1 trillion) of yuan-denominated Chinese stocks and bonds, per official data, compared to $27 trillion of American equivalents. Now the former figure has fallen below 7 trillion yuan. Major Chinese indexes in Hong Kong and New York have also slid, with the Nasdaq Golden Dragon China Index having lost around 15% in the last three months.

☆ Asia markets slide: Shanghai shares hit 4-month low; Japan, HK post second-straight daily loss
▼ + stars: | 2023-05-24 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets slid Wednesday, with the Shanghai Composite ending down 1.28% at 3,204.75, its lowest level since Jan 13. The Shenzhen Component closed 0.84% lower at 10,920, erasing all its gains this year to sink to lowest since Dec 23 last year. Hong Kong's Hang Seng index posted a second-straight daily loss, closing down 1.77% at 19,087, while the Hang Seng Tech index shed 2.1%. In Australia, the S&P/ASX 200 was down 0.63% at 7,213.8, its lowest closing level since last Wednesday. The country also saw its retail sales volume fall 4.1% year-on-year in the first quarter, the second straight quarterly contraction following a 4% fall in the quarter ended December.

Persons: Kospi Organizations: Shanghai, Shenzhen Component, Hang Seng, Nikkei, Reuters, New, New Zealand, U.S Locations: Asia, Pacific, Japan, Australia, New Zealand

☆ Japan stocks snap seven-day winning streak as Hong Kong sinks to 2-month low
▼ + stars: | 2023-05-23 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

(Photo by Kazuhiro NOGI / AFP) (Photo by KAZUHIRO NOGI/AFP via Getty Images)Asia-Pacific markets mostly slid on Tuesday as talks between U.S President Joe Biden and House Speaker Kevin McCarthy ended without a deal. House Speaker Kevin McCarthy said he had a "productive" and "professional" meeting, and said "I think the tone tonight was better than any other night we've had discussions," McCarthy said outside the West Wing following the hourlong meeting. In Japan, the Nikkei 225 closed 0.42% down at 30,957, snapping its seven day winning streak. Hong Kong's Hang Seng index reversed earlier gains and to sink 1.27% to 19,428.08, its lowest closing levels since March 21, while mainland Chinese markets also traded lower. The Shanghai Composite closed down 1.52% at 3,246.24 while the Shenzhen Composite ended down 1.03% at 11,012.58.

Persons: Kazuhiro NOGI, KAZUHIRO NOGI, Joe Biden, Kevin McCarthy, we've, McCarthy, Kospi Organizations: Nikkei, Getty Images, U.S, Wing, Juno Bank Locations: Tokyo, AFP, Asia, Pacific, Japan, Australia, Shanghai, Shenzhen

Asia-Pacific markets traded mixed on Monday after the Group of Seven summit in Hiroshima concluded and talks on the debt ceiling are slated to resume in the U.S. In Japan, the Nikkei 225 slid 0.11% and the Topix traded close to the flatline following its outperformance last week. In Australia, the S&P/ASX 200 was marginally lower, while South Korea's Kospi was fractionally higher. In contrast, the Kosdaq saw a loss of 0.34%Hong Kong's Hang Seng index looks to slightly fall, with futures at 19,410 compared to its close of 19,450.57. China's 1-year and 5-year loan prime rates for May are scheduled to be released later in the day.

☆ Asian stocks inch up on US debt ceiling hopes, Nikkei hits 33-year high
▼ + stars: | 2023-05-19 | by ( Ankur Banerjee | ) www.reuters.com time to read: +5 min

Australia's S&P/ASX 200 index (.AXJO) rose 0.66%, while Japan's Nikkei (.N225) continued its ascent, rising to its highest since August 1990, during the country's so-called bubble era. Futures indicated European stocks were set to open higher, with Eurostoxx 50 futures up 0.44%, German DAX futures up 0.41% and FTSE futures up 0.23%. China's blue-chip CSI300 Index (.CSI300) rose 0.20%, while the Shanghai Composite Index (.SSEC) was up 0.13%, having reversed from earlier losses. Hawkish rhetoric from Fed speakers continued with Dallas Fed President Lorie Logan and St. Louis Fed President James Bullard saying inflation was not cooling fast enough to allow the Fed to pause its interest-rate hike campaign. Against a basket of currencies, the dollar rose 0.029% and was wedged near a two-month high.

☆ Asian shares mixed as China growth worries crimp U.S. debt ceiling optimism
▼ + stars: | 2023-05-19 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) eased 0.20% but was set to eke out a gain of 0.19% for the week. Data in the week underscored that China's economy lost momentum at the beginning of the second quarter, stoking worries over the wobbly post-COVID-19 recovery. Investor attention has been firmly on the negotiations over U.S. debt ceiling and increasing hopes that a deal could be reached sent U.S. shares higher overnight . Hawkish rhetoric from Fed speakers continued with Dallas Fed President Lorie Logan and St. Louis Fed President James Bullard saying inflation was not cooling fast enough to allow the Fed to pause its interest-rate hike campaign. U.S. crude fell 0.14% to $71.76 per barrel and Brent was at $75.78, down 0.11% on the day.

☆ Stock Market Today: Dow Futures Hover; Walmart Results Awaited
▼ + stars: | 2023-05-18 | by ( ) www.wsj.com time to read: +1 min

Stock futures were little changed as investors awaited more clarity on the debt-ceiling negotiations, plus earnings from Walmart. President Biden said Wednesday that he was confident a default would be avoided , which boosted market sentiment. Futures tied to the S&P 500 and Dow industrials both edged up 0.1%, while Nasdaq-100 contracts gained 0.2%. Global stock markets climbed. Coming up: Walmart and Alibaba are both due to post results ahead of the U.S. open.

☆ Asian shares muted, US debt ceiling talks weigh on risk appetite
▼ + stars: | 2023-05-17 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

SINGAPORE, May 17 (Reuters) - Asian shares were subdued on Wednesday and the dollar hovered around a five-week peak as investors remained risk averse, with the U.S. debt ceiling talks and a mixed set of economic data weighing on sentiment. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was down 0.09% in choppy trading, with Australia's S&P/ASX 200 index (.AXJO) down 0.45%. Democratic President Joe Biden and top congressional Republican Kevin McCarthy edged closer to a deal to avoid a looming U.S. debt default Tuesday. After an hour of talks, McCarthy, the speaker of the House of Representatives, told reporters the two sides remained far apart on an agreement to lift the debt ceiling. Against a basket of currencies, the dollar rose 0.01% to 102.61, inching closer to the five-week high of 102.75 it touched on Monday.

☆ Asian shares tentative, US debt ceiling talks weigh on risk appetite
▼ + stars: | 2023-05-17 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

SINGAPORE, May 17 (Reuters) - Asian shares were subdued on Wednesday and the dollar hovered around a five-week peak as investors remained risk averse, with the U.S. debt ceiling talks and a mixed set of economic data weighing on sentiment. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 0.20% lower, while Australia's S&P/ASX 200 index (.AXJO) was down 0.56%. U.S. stock indexes closed down overnight, hamstrung by dour forecast from Home Depot and April U.S. retail sales data that underscored softer consumer spending. "These actually came in on the lower end of expectations though the news was mixed, with a lower headline but higher core sales figures muddying the message." Recent economic data indicates slowing in the U.S. economy following a string of rate hikes by the Federal Reserve to fight high inflation.

Asia-Pacific markets are trading mixed as the region looks to economic data from several countries, including Japan and Australia. South Korea's Kospi traded close to the flatline on Wednesday, while the Kosdaq saw a 0.49% gain. In Australia, the S&P/ASX 200 slipped 0.79%, dragged by mining stocks as investors await the nation's wage price index later today. The wage price index measures changes in the price of labor in Australia, and is a key metric when the country considers its monetary policy. In Hong Kong, futures for the Hang Seng index were at 19,884, lower than the HSI's last close of 19,978.25.

The view from the observation deck at Shanghai Tower in Shanghai, China, on Sunday, April 9, 2023. Photographer: Qilai Shen/Bloomberg via Getty ImagesAsia-Pacific markets are set to rise ahead of key economic releases from China. Compared to a low base seen in April a year ago, market watchers are largely expecting a rebound in growth. In mainland China, the Shanghai Composite and the Shenzhen Component saw their best days since May 8 and March 20, respectively. South Korea's Kospi and Kosdaq also saw gains on Tuesday, advancing 0.66% and 0.75% respectively, while Australia's S&P/ASX 200 slipped 0.15%.

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