DIRS.INFO The most relevant business & tech news

☆ Morning Bid: Will August retain July's heat?
▼ + stars: | 2023-07-31 | by ( Stephen Culp | ) www.reuters.com time to read: +2 min

August 1 (Reuters) - A look at the day ahead in Asian markets from Stephen Culp, financial markets journalist. Asian stocks have closed the books on a July that ran fairly hot, and not just with respect to temperatures. On Tuesday, Australia's central bank is expected to follow in the footsteps of its global peers by hiking its policy rate by 25 basis points. Both reports should provide further clarity on the effects of the Federal Reserve's restrictive monetary policy on the world's largest economy. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Stephen Culp, Wall, Deepa Babington Organizations: CSI, Asia Pacific, Nikkei, China PMI, Bank of Japan's, Caterpillar, Institute for Supply, Labor, Reserve Bank of, Global, PMI, Thomson, Reuters Locations: Japan, China, Australia's, United States, India, Korea

☆ Hedge funds rush to buy China stocks on economy stimulus prospects - Goldman
▼ + stars: | 2023-07-27 | by ( Summer Zhen | ) www.reuters.com time to read: +2 min

HONG KONG, July 27 (Reuters) - Global hedge funds snapped up Chinese equities following the politburo meeting this week, buying on Tuesday at their fastest pace since October 2022, Goldman Sachs said in report. Sectors including consumer discretionary, staples, financials, materials and industrials attracted the largest purchase by hedge funds tracked by Goldman Sachs. Chinese stocks rebounded this week as policymakers at the latest Politburo meeting clearly expressed support for capital markets and signalled the introduction of bigger easing measures to drive the economy. Goldman Sachs said hedge funds' exposure to Chinese equities remained at around the low levels last seen in November 2022 and well below five-year averages. Net foreign buying in mainland Chinese equities through the China-Hong Kong Stock Connect programme recorded 20 billion yuan so far this month, their best month since April, official data shows.

Persons: Goldman Sachs, Summer Zhen, Nell Mackenzie, Miral Organizations: Global, CSI, China - Hong Kong Stock Connect, Thomson Locations: HONG KONG, Hong Kong, U.S, China, China - Hong

☆ China property shares rise on financial support policy
▼ + stars: | 2023-07-11 | by ( Clare Jim | ) www.reuters.com time to read: +2 min

HONG KONG, July 11 (Reuters) - Shares of Chinese property developers rose on Tuesday after regulators extended some policies in a rescue package introduced in November to shore up liquidity in the embattled sector. Analysts said while the extended policy could ease the short-term financial pressure on property developers and ensure their home project completions, new measures would be needed to tackle the cash crunch in the sector. The sector has been hit by many company defaults amid a debt crisis since mid-2021, triggered by non-repayments of China Evergrande Group (3333.HK), the world's most indebted property developer. Sunac China (1918.HK), Logan Group (3380.HK) and KWG Group (1813.HK) listed in Hong Kong were among the top gainers, rising 4%-5%. Nomura said the "band-aid-style" policy support on Monday is unlikely to revive property sales, which have been weak for months, as it does little to restore home buyers' confidence.

Persons: Nomura, Clare Jim, Himani Sarkar, Sonali Paul Organizations: Analysts, China Evergrande, HK, Mainland Properties, CSI, Logan Group, KWG, People's Bank of China, CIMB Securities, Thomson Locations: HONG KONG, China, Hang, Hong Kong

☆ Morning Bid: Minutes meted, China crunch
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +4 min

A look at the day ahead in U.S. and global markets from Mike DolanAs U.S. markets return from Independence Day, the Federal Reserve's slightly awkward deliberations are laid bare again just as China's markets shrink from more unnerving economic signs. The Fed minutes out later will sketch out how close that is to the thinking in Washington. Going into the release, futures markets are 80% priced for another quarter-point policy rate rise to 5.5-5.75% this month and have 33 basis points of hikes pencilled in by November. The dollar (.DXY) was steady to firmer, with China's offshore yuan reversing all of Tuesday's gains. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Mike Dolan, Janet Yellen, HSI, Goldman Sachs, John Williams, Christina Fincher Organizations: Independence, U.S, Treasury, Bank, Reserve Bank of Australia, Federal, New York Fed, Reuters Graphics Reuters, Reuters, Thomson Locations: U.S, China, Shanghai, Hong Kong, Beijing, Washington, Monday's, Saudi Arabia, Russia

☆ Chinese A.I. stocks fall as U.S. reportedly weighs curbs on chip exports
▼ + stars: | 2023-06-28 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

A Nvidia Corp. HGX H100 artificial intelligence supercomputing graphics processing unit (GPU) at the showroom of the company's offices in Taipei, Taiwan, on Friday, June 2, 2023. China's artificial intelligence stocks fell Wednesday after the Wall Street Journal reported that the U.S. is planning to impose new curbs on shipments of AI chips to China. According to the Journal, U.S. chip makers such as Nvidia will be affected by the move which could happen as early as July. China's CSI artificial intelligence index fell 3% on that news on Wednesday in Asia. The Shenzhen-traded shares of Inspur Electronic Information Industry slumped 10% and Chengdu Information Technology of Chinese Academy of Sciences dropped nearly 8%.

Persons: OpenAI's ChatGPT, Bard chatbots, — Organizations: Nvidia Corp, Wall Street Journal, Journal, Nvidia, CSI, Industry, Chengdu Information Technology, Chinese Academy of Sciences Locations: Taipei, Taiwan, China, Asia, Shenzhen, Chengdu, Hong Kong, U.S

☆ 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.

☆ Asian stocks rally as banking anxiety eases; Alibaba surges
▼ + stars: | 2023-03-29 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 0.82% higher, while Japan's Nikkei (.N225) advanced 0.49%. Hong Kong's Hang Seng index surged over 2%, buoyed by Alibaba (9988.HK) after the Chinese e-commerce conglomerate announced its break-up plans. Alibaba's Hong Kong shares (9988.HK) shot up 15%, while the company's U.S.-listed shares closed 14.3% higher. Worries over inflation have prompted investors to recalculate what they expect the Fed to do in its next meeting in May. In the foreign exchange markets, the dollar index , which measures the U.S. currency against six peers, was mostly flat, having eased 0.3% overnight on improving risk appetite.

☆ Morgan Stanley turns 'outright bullish' on stocks in Asia, emerging markets
▼ + stars: | 2023-03-22 | by ( Jihye Lee | ) www.cnbc.com time to read: +3 min

Morgan Stanley strategists say it's "time to turn bullish" on Asia and emerging markets' growth stocks. Growth stocks will benefit from such easing financial conditions, they said. Morgan Stanley said the latest economic data from the region also point toward strong momentum ahead. "From quant perspectives, we believe liquidity is now on our side," the strategists wrote. Asia may be better placed Morgan Stanley said in a separate note that Asia markets are likely to still outperform their global peers in developed markets amid the latest banking sector turmoil.

☆ SVB collapse could add to China stock investors' anxiety
▼ + stars: | 2023-03-12 | by ( Summer Zhen | ) www.reuters.com time to read: +4 min

SHANGHAI, March 12 (Reuters) - China stock investors, already disillusioned by Beijing's lower-than-expected economic growth target for the year, will be further disheartened by the shock collapse of U.S. lender SVB Financial Group, market participants said. The market mood could be damped further following Friday's sudden collapse of start-up focused lender SVB (SIVB.O), which stirred heated discussion over the weekend in China about its fallout. But many Chinese tech start-ups, especially those with dollar funding, have opened U.S. accounts at SVB. He is cautious about tech stocks that could be impacted by US-China frictions. Still, domestic A-shares will likely outperform offshore China stocks, which are more vulnerable to potential spillover from the SVB collapse, analysts say.

☆ The global rally in stocks that's kicked off 2023 may prove to be 'head fake' as it's too soon to assume inflation is receding, says UBS
▼ + stars: | 2023-01-18 | by ( Carla Mozée | ) www.businessinsider.com time to read: +4 min

The stock-market rally at the start of 2023 faces risks from still-elevated inflation, UBS Global Wealth Management said. Central bankers are monitoring core prices, which rose in the euro area and the US in December. "The possibility that core inflation is sticker than expected remains a risk for markets." In the US, core prices increased by 0.3% as monthly shelter costs drove higher by 0.8%. "While the strong start to the year is welcome and we believe more risk-tolerant investors can start to anticipate an inflection point in 2023, we advise against complacency," Haefele wrote.

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.

☆ Is China set for a rebound in 2023? Wall Street pros weigh in — and reveal how to trade it
▼ + stars: | 2022-12-20 | by ( Zavier Ong | ) www.cnbc.com time to read: +4 min

Morgan Stanley turned bullish on China stocks for the first time in nearly two years, upgrading China to overweight versus emerging market stocks on Dec. 4 as the country embarks on a "clear path set towards reopening." 'Good long-term play' John Leiper, chief investment officer at Titan Asset Management, thinks now might be a good time for investors to snap up Chinese stocks. Leiper believes Chinese stocks represent a good long-term play given solid structural drivers, overly negative sentiment, and attractive valuations. Meanwhile, Goldman Sach s estimates a full reopening could drive 20% upside for Chinese stocks . HSBC is another major bank to turn upbeat on Chinese stocks, saying "after a tough year, things can only get better − and we believe they will."

☆ 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.

☆ Chinese stocks rally on reopening hopes; Morgan Stanley upgrades to overweight
▼ + stars: | 2022-12-05 | by ( Jihye Lee | ) www.cnbc.com time to read: +2 min

The Hang Seng TECH Index, which represents the 30 largest technology companies listed in Hong Kong, surged 8% in Asia's trade. Electronic vehicle-maker Xpeng gained 24%, leading gains for the broader index, Li Auto jumped 12% and Nio climbed more than 15%. The Hang Seng index rose 4% while China's CSI 300 index, which tracks the largest largest mainland-listed stocks, rose almost 2%. Hong Kong-listed casino operators also saw significant gains, with MGM China rising 19%, Wynn Macau climbing 16% and Sands China adding 13%. Morgan Stanley upgrades to overweight

HONG KONG, Nov 30 (Reuters Breakingviews) - President Xi Jinping is wrapping up his massive property stress test, but it looks like few have passed. It was precisely what the now near-collapsed China Evergrande (3333.HK) had asked for back in 2020, before regulators dashed its hopes of listing in the Chinese mainland. Among them is Country Garden (2007.HK), whose U.S. dollar bond that matures in January has rebounded 43% to 96 cents on the dollar this month. In comparison, an Evergrande bond due in January still trades at 5.5 cents. These property bailouts are set to leave most in the sector out in the cold.

REUTERS/Aly Song/File PhotoLONDON, Nov 29 - A look at the day ahead in U.S. and global markets from Mike Dolan. They also cheered a relaxation of regulations on developer fundraising that eases the smouldering property sector bust. A crackdown on demonstrations happened simultaneously, with Chinese authorities making inquiries into some protesters as police flooded the city's streets. Strikingly, hawkish Dutch central banker Klaus Knot also said forecasts of recession may be overdone and fears of "overtightening" policy were a "joke". His boss European Central Bank President Christine Lagarde said euro zone inflation, which is expected to ease this month but remain above 10%, has not yet peaked, encouraging speculation of another swingeing 75 basis point interest rate rise next month.

China's CSI300 Index (.CSI300) was down 1.8% after opening down 2.2% while the yuan also retreated. Australia's benchmark stock index (.AXJO) closed 0.42% lower while its risk-sensitive currency was off more than 1%. Japan's Nikkei stock index (.N225) was down 0.6%. In Shanghai, demonstrators and police clashed on Sunday night as protests over the country's stringent COVID restrictions flared for a third day. The COVID rules and resulting protests are creating fears the economic hit for China will be greater than first expected.

☆ China's zero-COVID lockdown protests drag on Chinese and Hong Kong stocks as unrest spooks investors
▼ + stars: | 2022-11-28 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

The eruption of COVID-19 lockdown protests in China are weighing on stocks in the mainland and in Hong Kong. Hong Kong's benchmark Hang Seng Index shed more than 4% at the open and closed 1.6% lower. Mainland China's CSI 300 index dropped 1.1% on the day amid the demonstrations. The Hang Seng Index in Hong Kong dropped as much as 4% early in the day before recovering to close at about 1.6% lower. Mainland China's CSI 300 index shed 1.1% on the day.

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was up 0.3%, after U.S. stocks ended the previous session with gains. Australian shares (.AXJO) were up 0.7%, with most gains coming from mining and resources giants as a result of higher oil prices. Case numbers in Beijing and Shanghai are steadily rising, prompting authorities to close some facilities. "The biggest story for investors in Asia is still the China reopening," said Suresh Tantia, Credit Suisse's senior investment strategist in Singapore. While the FTX exchange collapse continues to roil cryptocurrency markets, Bitcoin was 0.33% higher in Asian trading hours to $16,184.

☆ Asian stocks shaken by blast in Poland, dollar gains
▼ + stars: | 2022-11-16 | by ( Xie Yu | ) www.reuters.com time to read: +2 min

HONG KONG, Nov 16 (Reuters) - Asian stocks dropped and the dollar gained on Wednesday after blasts in Poland that Ukraine and Polish authorities said were caused by Russian-made missiles. The potential for a further ratcheting up of geopolitical tensions saw MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) lose 0.6%. Australian shares (.AXJO) fell 0.5%, while Japan's Nikkei stock index (.N225) dropped 0.76%. NATO member Poland said on Wednesday that a Russian-made rocket killed two people in eastern Poland near Ukraine, and it summoned Russia's ambassador to Warsaw for an explanation after Moscow denied it was responsible. read moreThe dollar rose against major peers, led by a 0.3% advance versus the yen .

☆ Global stocks rise but Polish deaths raise market concerns
▼ + stars: | 2022-11-15 | by ( Herbert Lash | ) www.reuters.com time to read: +5 min

Stocks wavered and the dollar briefly rose on initial reports of the Polish deaths as the market was overstretched as data suggested inflation was coming off its peak, said Marc Chandler, chief market strategist at Bannockburn Global Forex in New York. The Polish deaths were reminiscent of U.S. bombs that killed three people in the Chinese Embassy in Belgrade in 1999, he said. Reuters Graphics Reuters GraphicsMSCI's gauge of stocks across the globe (.MIWD00000PUS) gained 1.03%, while its emerging markets index (.MSCIEF) rose 2.22%. The euro up 0.22% to $1.0348, after briefly slipping on the Polish reports, and the yen strengthened 0.50% versus the dollar at 139.18. U.S. crude futures settled up $1.05 at $86.92 a barrel, while Brent futures rose 72 cents to settle at $93.86.

[1/2] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, November 14, 2022. As soon as these numbers can start coming down, even if it's a slow walkdown in inflation, the market will be relieved." MSCI's gauge of stocks across the globe (.MIWD00000PUS) gained 1.55%, while its emerging markets index (.MSCIEF) rose 2.35%. The pull-back we've seen, the dollar sells off last week sharply, some of the currencies were three standard deviation moves." Data out on Tuesday showed that the British unemployment rate rose in September.

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was up 0.1%, following mild losses for U.S. overnight. Australian shares (.AXJO) lost 0.28%, while Japan's Nikkei stock index (.N225) was off 0.16%. In Hong Kong, the Hang Seng Index (.HSI) was flat while China's CSI300 Index (.CSI300) was down 0.3%. Some Chinese cities have begun cutting routine community testing, days after China announced an easing of some of its heavy-handed coronavirus measures. China reported 17,909 new COVID-19 infections on Nov. 14 compared with 16,203 a day earlier.

☆ China's CIFI suspends all offshore debt payments, starts restructuring
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +3 min

HONG KONG, Nov 1 (Reuters) - Shanghai-based property developer CIFI Holdings (0884.HK) said on Tuesday it has suspended payments on all of its offshore debt after it failed to reach an agreement with creditors to which it owes $414 million in total. CIFI said in a filing it has engaged Haitong International Securities Company Limited as financial advisor and Linklaters as legal adviser to facilitate a restructuring of its $6.85 billion offshore debt, as it is likely to come under continued pressure to generate sufficient cash flows for repayments. CIFI and Longfor had borrowings of 114 billion yuan ($15.61 billion) and 212 billion yuan, respectively, as of June, and Greenland had 122 billion yuan. But it added its offshore debt issues do not materially affect its onshore financing arrangements as a whole and that its commercial operations remain normal. CIFI said on Oct. 13 it had not met certain offshore interest and amortisation payments due to delays in remittances during an extended holiday in mainland China.

Search resuls for: "China's CSI"

25 mentions found