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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.

☆ Wall Street sees further upside for Japan stocks as they notch a fresh three-decade high
▼ + stars: | 2023-05-30 | by ( Jihye Lee | ) www.cnbc.com time to read: +3 min

The World's busiest pedestrian crossing © Marco Bottigelli | Moment | Getty ImagesWith Japanese stocks suddenly back en vogue with global investors, analysts at top Wall Street investment banks are predicting more upside for the country's benchmark indexes. Goldman Sachs strategists wrote in a Monday research note that foreign investors' positioning on stocks in Japan is still underweight. "Whereas we believe positioning is stretched among short-term investors such as CTAs (Commodities Trading Advisors), positioning is still light among foreign long-term investors," strategists Kazunori Tatebe and Bruce Kirk said. Stock Chart Icon Stock chart iconThey added that they see Japan stocks benefiting from "structural changes" in the economy. "If progress is made in accordance with investor expectations, Japanese stocks could see a prolonged advance over the medium term, and we continue to see risk to the upside for Japanese stocks," they added.

☆ North Korea says it will launch its first-ever military spy satellite to monitor U.S. drills
▼ + stars: | 2023-05-30 | by ( Jihye Lee | ) www.cnbc.com time to read: +3 min

SEOUL, SOUTH KOREA - FEBRUARY 09: People watch a television show North Korea's 75th anniversary of the founding of the armed forces day military parade released by Korean Central News Agency (KCNA) in Seoul, South Korea. Chung Sung-jun | Getty Images News | Getty ImagesNorth Korea announced its plans to launch its first-ever military spy satellite – giving a lift for some South Korean and Japanese defense stocks. North Korean military official Ri Pyong Chol said in a Monday statement that Pyongyang plans to launch a satellite with the aim to track "dangerous" actions by the U.S., pointing to its recent joint military drills taking with South Korea. North Korea claimed the event "fully proves how the enemy is making preparations for the military act of aggression on the DPRK," referring to its official name, the Democratic People's Republic of Korea. Defense stocks riseShares of South Korean defense companies Firstec and Victek rose 3.8% and 3.3% respectively Tuesday afternoon, returning from a market holiday Monday.

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.

A pedestrian looks at an electronic quotation board showing numbers of the Nikkei 225 index in Tokyo on September 11, 2020. Asia-Pacific markets are mixed after Wall Street saw a tech rally led by Nvidia, and U.S. negotiators moved closer to a debt ceiling deal with just a week to go before the government faces a potential default. In Japan, the Nikkei 225 rose 0.31% to end the day at 30,916 after surpassing the 31,000 mark earlier in the day. South Korea's Kospi rose 0.16% to end at 2,558.81, reversing losses from Thursday , while the Kosdaq was down 0.53% and finished at 843.23. In Australia, the S&P/ASX 200 closed 0.23% at 7.154.8 after reversing earlier losses and snapping a four day losing streak.

Organizations: Nikkei, Nvidia, U.S, Shanghai, Shenzhen Component Locations: Tokyo, Asia, Pacific, Japan, Australia, Shenzhen, 10.909.65

☆ U.S., China's top commerce officials meet to discuss trade concerns
▼ + stars: | 2023-05-26 | by ( Jihye Lee | ) www.cnbc.com time to read: +1 min

The U.S. and China flags stand behind a microphone at the U.S. Embassy in Beijing on April 9, 2009. U.S. Secretary of Commerce Gina Raimondo sat down with her Chinese counterpart Wang Wentao in Washington D.C. on Thursday to discuss "concerns" surrounding bilateral trade. Marking the first cabinet-level exchange between the two countries in months, the U.S. talked about American companies operating in China. Raimondo also "raised concerns about the recent spate of PRC [People's Republic of China] actions taken against U.S. companies operating in the PRC," it said. The bilateral exchange between Raimondo and Wang comes as market observers keep a close eye on whether the U.S. will curb American investments into China, as relations between the world's largest economies sour.

(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

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.

China's chip stocks rallied on Monday morning following Beijing's announcement to bar some purchases of products from U.S. memory chipmaker Micron . China's Cyberspace Administration barred operators of "critical information infrastructure" in China from buying products from the U.S. chip giant following a security review conducted by the Cyberspace Administration of China. Chinese authorities said Micron products have failed its network security review, and cited "serious potential network security issues." The firm poses a "major security risk" to China's critical information infrastructure supply chain and affects [its] national security," a statement said. Shares of Chinese chipmakers largely rose on Monday following the move: Hong Kong-listed Hua Hong Semiconductor rose as much as 3.14% on Monday, while SMIC rose 2.64%.

☆ 'We are not decoupling': G-7 leaders agree on approach to 'de-risk' from China
▼ + stars: | 2023-05-22 | by ( Jihye Lee | ) www.cnbc.com time to read: +1 min

Chinese President Xi Jinping and hands with then U.S Vice President Joe Biden inside the Great Hall of the People on December 4, 2013 in Beijing, China. Leaders of the Group of Seven agreed there's a need to de-risk, not decouple from China, and acknowledged challenges posed by the mainland's practices which "distort the global economy." "We are not decoupling or turning inwards," the G-7 said in a joint statement released over the weekend as leaders met in Hiroshima, Japan. Leaders added, "We will seek to address the challenges posed by China's non-market policies and practices, which distort the global economy. Reiterating the stance, President Joe Biden said at a press conference on Sunday: "We're not looking to decouple from China, we're looking to de-risk and diversify our relationship with China.

The Bank of Japan (BOJ) headquarters is seen beyond the cherry blossoms in Tokyo on March 20, 2023. The S&P 500 and Nasdaq Composite jumped on Thursday to notch their highest closing levels since August 2022 as Wall Street traders kept focused on debt ceiling negotiations. Leaders from the Group of 7 will be gathering in Hiroshima, Japan for the G-7 summit that kicks off today. Japan stocks were on course to seeing its best week since October as the Nikkei 225 rose 0.67%, maintaining the highest levels since 1990 and the Topix climbed 0.37% in early trade — marking its sixth winning streak. Japan's core inflation in April rose 3.4% year-on-year, maintaining levels above the central bank's target.

☆ G-7 leaders to announce more sanctions on Russia; Zelenskyy expected to fly to Japan
▼ + stars: | 2023-05-19 | by ( Jihye Lee | ) www.cnbc.com time to read: +1 min

The Group of Seven summit will be held in Hiroshima, Japan, from May 19-22. Leaders of the Group of Seven are expected to introduce on a set of measures to add pressure on Russia as its invasion of Ukraine continues for a second year. G-7 leaders are in Hiroshima, Japan, for a three-day meeting to discuss international trade and security as the U.S. and China battle for influence in a multipolar world amid concerns of their decoupling, and as the Ukraine war continues. A senior U.S. administration official, speaking on the condition of anonymity, said early Friday morning that the government plans to introduce steps to "economically isolate" Russia to weaken its ability to wage war. Discussions on the scope of the sanctions on Russia will be underway as Ukrainian President Volodymyr Zelenskyy is reportedly expected to fly to Japan to attend the G-7 summit on Sunday, according to the Financial Times.

Asia-Pacific markets are set to rise on hopes of U.S President Joe Biden and congressional leaders inching closer to a deal to raise the U.S. debt ceiling and avoid a default. House Speaker Kevin McCarthy said that a "better process" is now in place for further talks, saying it's "possible to get a deal by the end of the week." Biden shortened his trip to Asia to focus on the negotiations, the White House said. South Korea's Kospi gained 0.66% and the Kosdaq gained 0.77% in Asia's morning trade. Stocks in Australia also rose, with the S&P/ASX 200 up 0.74% as investors await the economy's unemployment figures for April.

☆ As G-7 Summit kicks off in Hiroshima, China and Russia are on everyone’s minds
▼ + stars: | 2023-05-18 | by ( Jihye Lee | ) www.cnbc.com time to read: +5 min

A man rides his bicycle past a "G7 Hiroshima" flower sign at the Peace Memorial Park in Hiroshima, ahead of the G7 Leaders' Summit, on May 17, 2023. (Photo by Philip FONG / AFP) (Photo by PHILIP FONG/AFP via Getty Images) Philip Fong | Afp | Getty ImagesThe annual Group of 7 summit officially kicks off on Friday in Hiroshima, Japan. A sign of G7 Hiroshima Summit is pictured in Hiroshima, ahead of the G7 Leaders' Summit, on May 16, 2023. G-7 finance leaders and central bankers finalized a three-day meeting in Niigata last week. "The U.S. will have a package of sanctions associated with the G-7 statement that will center on this enforcement issue," he told reporters.

☆ 'Foreign investors are back': Japan stocks surge to their highest since 1990
▼ + stars: | 2023-05-17 | by ( Jihye Lee | ) www.cnbc.com time to read: +4 min

The firm noted that foreign investors bought a net 2.1 trillion yen ($15.4 billion) worth of Japanese stocks in April – adding that Japan's corporate sector remains the largest net buyer of Japanese stocks, with a volume of 1.1 trillion yen year-to-date. Central bank focusSociete Generale strategists added that their overweight position on Japanese equities remains unchanged. The Japanese yen traded at slightly weaker levels to 136.43 against the greenback on Wednesday. "Keep an overweight position on Japan equities, unhedged, and biased to banks, financials, and value," they wrote. "Specifically, we note the solid fundamentals compared with stocks on overseas markets, and we also think that expectations for structural changes/reforms could push Japanese equities up even further," wrote Japan equity strategist Kazunori Tatebe.

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.

☆ China's economic data misses expectations as economy continues to show uneven recovery
▼ + stars: | 2023-05-16 | by ( Jihye Lee | ) www.cnbc.com time to read: +1 min

YANGZHOU, CHINA - MAY 02: Aerial view of tourists visiting the Dongguan street during the May Day holiday on May 2, 2023. China's economic data for April broadly missed expectations as the economy continued to show an uneven path of recovery from the impact of its stringent Covid restrictions. Industrial production for April rose by 5.6% year-on-year, compared to the 10.9% expected by economists surveyed in a Reuters poll. "It's not good enough to meet with investors' expectations – that's a problem," Wu said, adding that the momentum from China's pent-up demand seems to be fading away. "The recovery of income, of job security, and confidence will take time," she said.

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%.

Asia-Pacific markets are trading mixed after two out of three major U.S. indexes recorded a second straight week of losses, fueled by concern over the U.S. debt ceiling and disappointing economic data. U.S. President Joe Biden and congressional leaders postponed a meeting set for Friday to the following week. Australia's S&P/ASX 200 opened marginally lower, along with South Korea's Kospi and Kosdaq, which lost 0.24% and 1.02% respectively. Japan's Nikkei 225 was up 0.51%, with the Topix also 0.5% higher on Monday. Hong Kong's Hang Seng index looks set for a lower open, with contracts tied to the index at 19,421 compared to the HSI's last close of 19,627.

☆ Debt in advanced economies is piling on to global challenges, says World Bank president
▼ + stars: | 2023-05-12 | by ( Jihye Lee | ) www.cnbc.com time to read: +1 min

Developed economies across the world are facing a debt problem, and that's piling onto other headaches in the global economy as central banks continue to grapple with persistent inflation, according to World Bank President David Malpass. Speaking to CNBC's Martin Soong at the G-7 finance ministers and central bank governors' meeting in Japan, Malpass emphasized that record-high global debt levels need to be addressed for stability. "The debt-to-GDP ratios for the advanced economies are higher than ever before," he said, adding that developing countries are also facing a similar issue. The World Bank has emphasized the need for transparency in addressing rising debt in the face of a number of global economic issues, including stress in the banking sector and sticky inflation. The organization last month chaired the Global Sovereign Debt Roundtable in Washington D.C. and highlighted its call for information sharing to speed up the process of debt restructuring in the world.

(Photo by Marc Fernandes/NurPhoto via Getty Images)Asia-Pacific markets are trading mixed after the U.S. posted more data that showed inflation was easing. The producer price index for April, posted a year-on-year increase of 0.2%, against a Dow Jones estimate for 0.3% and after declining 0.4% in March. In mainland China, the Shanghai Composite fell 1.12% and closed at 3,272.36, dragged lower by in academic and educational services stocks. Hong Kong's Hang Seng index also fell 0.7% ahead of its first-quarter GDP figures. The Topix also climbed 0.64% and ended at 2,096.39, led by health care and utilities stocks.

☆ Consumer prices in China rose 0.1% in April, the slowest rate in two years
▼ + stars: | 2023-05-11 | by ( Jihye Lee | ) www.cnbc.com time to read: +1 min

The People's Bank of China (PBOC) building in Beijing, China, on Tuesday, April 18, 2023. Source: BloombergChina's consumer price index rose 0.1% in April year-on-year, the slowest since early 2021. Economists surveyed by Reuters expected to see consumer prices rise 0.4% from a year ago and remain unchanged from the previous month. Inflation in China was led by food and services, according to the National Bureau of Statistics – food prices rose by 0.4% and service prices rose 1% from a year ago. That's a stark contrast to the latest U.S. inflation data overnight which showed consumer prices rose 4.9% in April – easing in the wake of the Federal Reserve's efforts to tame inflation by hiking rates 10 consecutive times.

☆ Yellen says it should be 'unthinkable' for the U.S. to default on its debt
▼ + stars: | 2023-05-11 | by ( Jihye Lee | ) www.cnbc.com time to read: +1 min

Treasury Secretary Janet Yellen said the idea of U.S. lawmakers letting the nation default on its debt should be "unthinkable." Speaking to reporters ahead of the G-7 finance ministers and central bank governors meetings in Niigata, Japan, Yellen said she was aware of former President Donald Trump's suggestion for Republican lawmakers to let the nation default. "The notion of defaulting on our debt is something that would so badly undermine the U.S. and global economy that I think it should be regarded by everyone as unthinkable," she told reporters. When asked about steps the Biden administration could take in the wake of a default, Yellen emphasized that lawmakers must raise the debt ceiling. The U.S. Congress has raised or suspended the debt limit almost 80 times since 1960.

Persons: Janet Yellen, Yellen, Donald Trump's, Biden Organizations: U.S, Congress Locations: Niigata, Japan, U.S, America

SHANGHAI, CHINA - MARCH 7, 2023 - The Oriental Pearl Tower, Shanghai Tower, Jinmao Tower and World Financial Center are seen on Lujiazui Street, Shanghai, China, March 7, 2023. Asia-Pacific markets traded mixed after Wall Street saw a tech rally as U.S. consumer price index rose less than expected for April. The consumer price index showed a reading of 4.9%, slightly less than the 5% gain anticipated by economists polled by Dow Jones. Investors in Asia will be closely watching the inflation print from China for April as well later Thursday, forecasted to come in at 0.3%, according to a Reuters poll of economists. Futures tied to Hong Kong's Hang Seng index stood at 19,725, lower than the HSI's last close of 19,762.

A general view of the container terminal in Qianwan of Qingdao Port, a port in Shandong Province, China, March 17, 2023. Asia-Pacific markets traded mixed ahead of China's April trade data release as well as U.S. inflation reports later this week. China is projected to record a trade surplus of $74.3 billion, lower than the $88.2 billion in March, according to a Reuters poll. In Australia, the S&P/ASX 200 fell 0.33% and South Korea's Kospi was 0.21% down, with the Kosdaq also shedding 0.39%. Futures for Hong Kong's Hang Seng index stood at 20,222, signaling a lower open compared with its last close of 20,297.03.

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