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Plenty of bond investors have been burned calling a bottom in a selloff that has taken Treasuries to the cusp of an unprecedented third straight year of losses. One potential near-term pitfall is Friday’s U.S. payrolls data, which could revive expectations of Fed hawkishness if they come in stronger than expected. The rise in Treasury yields has reached far beyond the bond market. The S&P 500 is down nearly 8% from its July high, as rising bond yields offer investment competition to equities while threatening to raise the cost of capital for companies. “The market is running with the idea that the Fed is done hiking, which they may or may not be,” he said.

Persons: Jerome Powell nodded, Bonds, ”, Jack McIntyre, “, ” McIntyre, Stanley Druckenmiller, Duquesne, Bond, Josh Emanuel, Powell, We've, Greg Wilensky, Janus Henderson, ” Wilensky, Noah Wise, Davide Barbuscia, David Randall, Ira Iosebashvili Organizations: Treasury, Federal, Fed, U.S . Treasury, Brandywine, Janus, Janus Henderson Investors, Allspring Global Investments, Thomson Locations: U.S, Wilshire

☆ Malan won't blame coach Mott for England's dismal title defence
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +2 min

Their only win in the tournament came against Bangladesh and Sunday's defeat at the hands of table-toppers India was their fourth successive loss. "It has been frustrating from a players' point of view because we know we're better than that." "We've played six games now and we've not been anywhere near where we wanted to be so it is disappointing from that point of view," Malan said. "I'm pretty sure I'll be done for that but I'd love the guys to play in that," Malan said. "Hopefully we can find the momentum and finish the World Cup on a high."

Persons: Bharat Ratna, Atal Bihari, England's Dawid Malan, India's Mohammed Siraj, Andrew Boyers, Dawid Malan, Matthew Mott, Malan, We've, Amlan Chakraborty, Muralikumar Organizations: ICC Cricket, Atal Bihari Vajpayee Ekana Cricket, REUTERS, BBC Sport, Thomson Locations: India, England, Lucknow, DELHI, Bangladesh, Australia, Pakistan, New Delhi

The 10-year Japanese government bond yield rose 2 basis points (bps) to 0.970%, a level last seen in May 2013, before retreating to 0.960% immediately after the BOJ announced an emergency bond-purchase operation. Tsuruta sees the tweak as a step toward the BOJ eventually exiting from negative interest rates policy, which he expects around the beginning of next year at the earliest. The two-year JGB yield had ticked up to 0.160%, while the five-year yield reached 0.480%, levels not seen since 2011. On the superlong end, the 20-year JGB yield rose to its highest since July 2013 at 1.735%. The 30-year JGB yield was up 3 bps at 1.905%.

Persons: Kim Kyung, Keisuke Tsuruta, Mitsubishi UFJ, Mitsubishi UFJ Morgan Stanley, Tsuruta, James Malcolm, YCC, Malcolm said, Brigid Riley, Vidya Ranganathan, Shri Navaratnam Organizations: Bank of Japan, REUTERS, Rights, Mitsubishi, Mitsubishi UFJ Morgan, Mitsubishi UFJ Morgan Stanley Securities, UBS, Thomson Locations: Tokyo, Japan, London

☆ Asian stocks stutter ahead of Fed, frail yen in focus
▼ + stars: | 2023-11-01 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

Passersby are reflected on an electric stock quotation board outside a brokerage in Tokyo, Japan April 18, 2023. "Once again market players have been left frustrated by the lack of urgency shown by the BOJ, and either closed yen longs or flipped into outright yen shorts." The yen strengthened 0.27% to 151.26 per dollar following the comments but remained close to one-year lows of 151.74 it touched on Tuesday. FED AWAITSOvernight, Wall Street's main indexes ended higher, with investors looking ahead to the Fed policy decision later in the day, when the central bank is expected to stand pat on interest rates. Oil prices inched higher ahead of the Fed decision, with the market keeping a close eye on the latest developments in the Israel-Hamas conflict.

Persons: Issei Kato, HSI, Chris Weston, Masato Kanda, Jerome Powell, Erik Weisman, Powell, Sterling, Brent, Ankur Banerjee, Shri Navaratnam Organizations: REUTERS, Rights, Federal Reserve, Japan's Nikkei, China, Bank of, ING, Traders, MFS Investment Management, Treasury, Thomson Locations: Tokyo, Japan, Rights SINGAPORE, Asia, Pacific, Israel

☆ US House Speaker Johnson to bring Israel bill to floor despite deficit risk
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Nathan Howard/File Photo Acquire Licensing RightsWASHINGTON, Nov 1 (Reuters) - U.S. House of Representatives Speaker Mike Johnson said on Wednesday he plans to hold a vote on a standalone Israel aid bill despite a Congressional Budget Office report showing it could increase the federal deficit. In the first major legislative action under Johnson, House Republicans unveiled their bill on Monday seeking to provide $14.3 billion for Israel by cutting Internal Revenue Service (IRS) funding. The House could vote on the bill and pass it with Republican support as soon as Thursday. The non-partisan Congressional Budget Office (CBO) said on Wednesday that the IRS cuts and the Israel aid in the standalone bill would add nearly $30 billion to the U.S. budget deficit, currently estimated at $1.7 trillion. To become law, any legislation must pass the House, the Senate and be signed into law by Biden.

Persons: Mike Johnson, Nathan Howard, Johnson, Joe Biden's, Josh Hawley, " Johnson, Biden, Johnson's, Chuck Schumer, David Morgan, Patricia Zengerle, Dan Whitcomb, Katharine Jackson, Scott Malone, Rod Nickel Organizations: U.S, Capitol, REUTERS, Rights, . House, House Republicans, Revenue Service, Democratic, White, Israel, Kyiv, Fox News, Office, CBO, Senate, Democrat, Thomson Locations: Washington , U.S, Israel, China, Ukraine, Iran, Gaza, East

☆ China factory activity unexpectedly shrinks in Oct, dents recovery momentum
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +3 min

China Daily via REUTERS/File Photo Acquire Licensing RightsBEIJING, Oct 31 (Reuters) - China's manufacturing activity unexpectedly contracted in October, an official factory survey showed on Tuesday, underlining the challenge facing policymakers trying to engineer a durable economic recovery. Recent indicators pointed to encouraging signs of stabilising in the world's second-largest economy, supported by a flurry of policy support measures, although a protracted property crisis and soft global demand remain major headwinds. "Although there are signs of exports bottoming out, a strong recovery in external demand is probably elusive," he added. But analysts say more policy support may be needed to ensure the economy reaches Beijing's annual growth target of about 5%. "The additional 1 trillion yuan will help in November and December," Economist Intelligence Unit's Xu said.

Persons: Xu Tianchen, Dan Wang, Nomura, Unit's Xu, Joe Cash, Sam Holmes Organizations: REUTERS, Rights, National Bureau, Statistics, PMI, Economist Intelligence Unit, Hang Seng Bank China, JPMorgan, Moody's, Thomson Locations: Hangzhou, Zhejiang province, China, Rights BEIJING

☆ Japan on standby to deal with 'one-sided' yen moves - top FX diplomat
▼ + stars: | 2023-10-31 | by ( Takaya Yamaguchi | ) www.reuters.com time to read: +2 min

REUTERS/Issei Kato Acquire Licensing RightsTOKYO, Nov 1 (Reuters) - Japan's top currency diplomat Masato Kanda said on Wednesday authorities were on standby to respond to recent "one-sided, sharp" moves in the yen, escalating his warning to investors against pushing down the currency too much. "Speculative trading seems to be the biggest factor behind recent currency moves," Kanda, vice finance minister for international affairs, told reporters on the yen's declines. The situation surrounding yen moves has become "more tense" than before, he said, adding that authorities will "respond appropriately without ruling out any options". After sliding to 151.715 against the dollar overnight on Tuesday, the yen stood at 151.350 in Asia on Wednesday. It intervened again in October 2022 after the yen plunged to a 32-year low of 151.94.

Persons: Masato Kanda, Issei Kato, Kanda, Takaya Yamaguchi, Satoshi Sugiyama, Leika Kihara, Sam Holmes Organizations: Reuters, Finance Ministry, REUTERS, Rights, Bank of Japan, Thomson Locations: Tokyo, Japan, Asia

☆ Yen tumbles after BOJ stands pat, introduces some flexibility to yield cap
▼ + stars: | 2023-10-31 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

Japanese Yen and U.S. dollar banknotes are seen in this illustration taken March 10, 2023. That sent the yen sliding nearly 0.7% against the dollar , past the 150 per dollar threshold to hit an intraday low of 150.12, before steadying to 149.93 per dollar. The euro similarly jumped roughly 0.5% against the yen following the decision . Spain's 12-month inflation in October was unchanged from the previous month at 3.5%, preliminary data also out on Monday showed. The figures come ahead of euro zone inflation data due later on Tuesday.

Persons: Yen, Dado Ruvic, Thierry Wizman, Sterling, Rae Wee, Shri Navaratnam, Simon Cameron, Moore Organizations: REUTERS, Rights, Bank of Japan, Nikkei, Federal Reserve, U.S ., Bank of England, Australian, New Zealand, Thomson Locations: Rights SINGAPORE, steadying, U.S, Germany

☆ Warner enjoying making doubters 'look stupid' at World Cup
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +2 min

Oct 31 (Reuters) - Australia opener David Warner says his World Cup form is making doubters "look stupid" and hopes to add to his mountain of runs in the next match against ailing England. "Everyone keeps writing me off," said lefthander Warner who turned 37 last week. Asked if he was motivated to prove doubters wrong, Warner said: "Nup. Warner said team mates had nicknamed Head 'Chaos' for looking to attack bowlers at every chance. Warner said "it would be nice" to add to England's misery but said Australia should not underestimate them.

Persons: David Warner, Warner, Quinton de Kock, lefthander Warner, I'm, It's, Travis, Marsh, Ian Ransom, Shri Navaratnam Organizations: England, New Zealand, Thomson Locations: Australia, India, Melbourne

☆ India win low-scoring contest to heap more misery on England
▼ + stars: | 2023-10-29 | by ( Saurabh Sharma | ) www.reuters.com time to read: +1 min

Rohit Sharma saved India's blushes with a captain's knock of 87 in what initially appeared a below-par total of 229-9 on a tricky surface at the Ekana Stadium in Lucknow. Put into bat, the hosts slumped to 40-3 in the 12th over before Rohit forged a 91-run partnership with KL Rahul (39) to arrest their slide. Suryakumar Yadav contributed a breezy 49 down the order and India's tailenders scored some useful runs towards the end to take them past the 225-mark. England were reduced to 52-5 inside 16 overs in a remarkable batting capitulation and were eventually bundled out for 129 in inside 35 overs with Mohammed Shami claiming 4-22 for India. Writing by Amlan Chakraborty in New Delhi; editing by Pritha SarkarOur Standards: The Thomson Reuters Trust Principles.

Persons: Bharat Ratna, Atal Bihari, India's Mohammed Shami, England's Moeen Ali, Adnan Abidi, Rohit Sharma, India's, Rohit, Suryakumar Yadav, India's tailenders, Mohammed Shami, Liam Livingstone's, Amlan Chakraborty, Pritha Sarkar Organizations: Cricket, ICC Cricket, Atal Bihari Vajpayee Ekana Cricket, KL Rahul REUTERS, England, KL, Thomson Locations: India, England, Lucknow, LUCKNOW, New Delhi

☆ Thai policy rate is right for now, Mideast war is a concern - c.bank chief
▼ + stars: | 2023-10-28 | by ( ) www.reuters.com time to read: +2 min

The central bank's growth forecast of 4.4% for 2024 will be revised if there is any change in the government's stimulus plan, he added. Sethaput said the Bank of Thailand is concerned about the fallout from the conflict in the Middle East. "A new factor that I'm quite wary about is Middle East problems as evaluating the impact of this risk is very difficult," he said, but added that the current policy rate is appropriate. The rate has been raised by a total of 200 basis points since August last year to rein in elevated inflation. ($1 = 36.11 baht)Reporting by Orathai Sriring, Kitiphong Thaichareon and Satawasin Staporncharnchai; Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Sethaput Suthiwartnarueput, Sethaput, Orathai Sriring, Kitiphong, Shri Navaratnam Organizations: Bank of, Bank, Thomson Locations: BANGKOK, Bank of Thailand, outflows

☆ Brazil finds Pan Am gold at the beach and in the ring
▼ + stars: | 2023-10-28 | by ( Steve Keating | ) www.reuters.com time to read: +4 min

The silver was Canada's first medal in women's beach volleyball at a Pan Am Games. A silver medal came with a bonus prize with every fighter in the finals having secured a quota spot for the Paris Olympics. In the women's 75-kilogram Canada's Tammara Thibeault added Pan Am gold to her world and Commonwealth Games titles with a unanimous 5-0 decision over Panama's Atheyna Bylon. "Out of all the tournaments I've been to, I've been able to capture gold and I was missing Pan Ams," said Thibeault. That contribution helped power Mexico into second place on the medal table with 35 gold and 80 total medals.

Persons: Brazil's Ana Patricia Ramos, Eduarda, Silver, Canada's Melissa Humana, Patricia Ramos, Duda Lisboa, Andre Stein, George Souto, Beatriz Ferreira, Ramos, Melissa Humana, Brandie Wilkerson, Canada's, Andre Loyola, Cuba's Jorge Alayo, Noslen Diaz, Marco, Esteban Grimalt, Logan Webber, Hagen Smith, Ferreira, Angie Paola Valdes Pana, Caroline Barbosa, Jucielen, Barbara Maria Dos Santos, Julio Cesar La Cruz, Arlen Lopez Cardona, Joshua Edwards, Jahmal Harvey, Thibeault, Bylon, Wyatt Sanford, I've, Emiliano Hernandez, Duilio Carrillo, Steve Keating, Shri Navaratnam Organizations: Eduarda Santos Lisboa, Pan American, United, Lisboa, Pan Am, Paris, Boxing, Cuba, Olympic, Commonwealth Games, Canada, Pan Ams, Thomson Locations: playa, Santiago, Chile, Brandie, SANTIAGO, United States, Brazil, Chilean, Canadian, Lima, Canada, Mexico

☆ Tesla raises price of high-performance Model Y in China by 14,000 yuan
▼ + stars: | 2023-10-27 | by ( ) www.reuters.com time to read: 1 min

Visitors check a China-made Tesla Model Y sport utility vehicle (SUV) at the electric vehicle maker's showroom in Beijing, China January 5, 2021. REUTERS/Tingshu Wang/FIle Photo Acquire Licensing RightsCompanies Tesla Inc FollowBEIJING, Oct 27 (Reuters) - Tesla Inc has increased the price for its Model Y high-performance version SUV in China by 14,000 yuan ($1,913.88) from Friday, it said on a social media notice. ($1 = 7.3150 Chinese yuan renminbi)(This story has been corrected to say SUV, not sedan, in paragraph 1)Reporting by Shanghai newsroom and Liz Lee Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Tingshu Wang, Liz Lee, Shri Navaratnam Organizations: REUTERS, Inc, BEIJING, Tesla Inc, Shanghai, Thomson Locations: China, Beijing

There were also "frank exchanges" between Blinken and Wang over the erupting conflict in the Middle East. The key area that appeared to show some positive momentum was toward an expected meeting between Biden and Xi on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit next month in San Francisco. "We are making preparations for such a meeting," said one of the senior administration officials briefing reporters on condition of anonymity. "China attaches importance to the U.S. side's hopes of stabilizing and improving U.S. ties with China," Wang was quoted as saying in his meeting with Biden. On Thursday, Wang told Blinken that the two countries have disagreements and need "in-depth" and "comprehensive" dialogue to reduce misunderstandings and stabilize ties.

Persons: Wang Yi, Antony Blinken, Elizabeth Frantz, Joe Biden, Xi Jinping, Biden, Jake Sullivan, Wang, Xi, Blinken, Sullivan, side's, Janet Yellen, Gina Raimondo, Yellen, Raimondo, Thomas Shoal, Humeyra Pamuk, Michael Martina, Steve Holland, Jonathan Oatis, Navaratnam, Raju Gopalakrishnan Organizations: Foreign, U.S, State Department, REUTERS, Rights, Economic Cooperation, Blinken, Thomson Locations: Washington , U.S, U.S, China, Washington, East, South China Sea, Taiwan, Asia, San Francisco, Francisco, Beijing, China . U.S, Israel, Iran, South, East China, Philippine

☆ China's Former Premier Li Keqiang Has Died -State Media
▼ + stars: | 2023-10-26 | by ( Oct. | At P.M. | ) www.usnews.com time to read: +1 min

BEIJING (Reuters) -China's former Premier Li Keqiang has died of a sudden heart attack aged 68, state media said on Friday. "Comrade Li Keqiang, while resting in Shanghai in recent days, experienced a sudden heart attack on Oct. 26 and after all-out efforts to revive him failed, died in Shanghai at ten minutes past midnight on Oct. 27," state broadcaster CCTV reported. The former Chinese premier and head of China's cabinet served under President Xi Jinping for a decade from 2013, retiring in March. The elite Peking University-educated economist was once viewed as a top Communist Party leadership contender, but became increasingly sidelined by Xi in recent years. (Reporting by Shanghai newsroom and Laurie Chen; Writing by Liz Lee; Editing by Shri Navaratnam and Jamie Freed)

Persons: Li Keqiang, Xi Jinping, Xi, Laurie Chen, Liz Lee, Shri Navaratnam, Jamie Freed Organizations: CCTV, Peking University, Communist Party, Shanghai Locations: BEIJING, Shanghai, China

The data reinforces expectations the Bank of Japan (BOJ) will revise up its inflation forecasts when it produces fresh quarterly projections at next week's policy meeting. The Tokyo core consumer price index (CPI), which excludes volatile fresh food but includes fuel costs, rose 2.7% in October from a year earlier, government data showed on Friday, exceeding market forecasts for a 2.5% gain. The so-called "core core" index that strips away both fresh food and fuel prices - closely watched by the BOJ as a gauge of broader price trends - rose 3.8% in October from a year earlier after a 3.9% increase in September, the data showed. "With services inflation continuing to accelerate, it will take a long time before inflation falls back below the BOJ's 2% target." The BOJ remains a global dovish outlier, having maintained ultra-loose policy even as major central banks elsewhere raised interest rates aggressively to fight rampant inflation.

Persons: Androniki, Marcel Thieliant, Takahiko Wada, Shri Navaratnam, Sam Holmes Organizations: REUTERS, Bank of Japan, Reuters Graphics, Capital Economics, Reuters, Thomson Locations: Tokyo, Japan, TOKYO, Asia

☆ Australia's surprisingly strong Q3 inflation raises odds of Nov rate hike
▼ + stars: | 2023-10-25 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

Markets are wagering both the U.S. Federal Reserve and the European Central Bank are done with hiking. HAWKISH MESSAGINGThe recent messaging from the central bank has been on the hawkish side. The biggest contributors to the third quarter inflation were fuel, rents, and electricity. Fuel prices rose 7.2% from a year ago, reversing two quarters of price falls, with the conflict in the Middle East potentially set to further stoke inflationary pressures. The central bank forecast in August that inflation was only projected to return to the top of the bank's target band of 2-3% in late 2025.

Persons: David Gray, Worryingly, Adam Boyton, Gareth Aird, Michele Bullock, Woolworths WOW.AX, Taylor Nugent, Stella Qiu, Wayne Cole, Shri Navaratnam Organizations: REUTERS, Rights, Reserve Bank of Australia, Australian Bureau, Statistics, Wednesday, Commonwealth Bank of Australia, ANZ, Economics, CBA, U.S . Federal Reserve, European Central Bank, Woolworths, National Australia Bank, NAB, Thomson Locations: Sydney, Australia

☆ China's new bonds to help economic recovery, official says, as budget deficit rises
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsBEIJING, Oct 25 (Reuters) - China's new sovereign bonds will help bolster the economic recovery, China's vice finance minister Zhu Zhongming said on Wednesday, as the government's stepped-up fiscal stimulus sharply raises its budget deficit. The government's debt level is still within a reasonable range, the minister said, without giving details. Analysts at UBS expect the government to raise its budget deficit and special local bond quotas for 2024, alongside further cuts in interest rates and bank reserve requirement ratios. China's parliament has also approved a bill to allow local governments to front load part of 2024 local bond quotas. Local governments had been told to complete the issuance of the 2023 quota of 3.8 trillion yuan in special local bonds by September to fund infrastructure projects.

Persons: Dado Ruvic, Zhu Zhongming, Zhu, Ting Lu, Ellen Zhang, Kevin Yao, Christopher Cushing Organizations: REUTERS, Rights, Nomura, UBS, Thomson Locations: Rights BEIJING, Beijing, China

☆ New Zealand in good head-space after Dalai Lama visit
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

New Zealand have the luxury of back-to-back games in the former British hill station where they face a resurgent Australia on Saturday. With the town also the base of the Tibetan government-in-exile, New Zealand players jumped at the chance to meet the organisation's spiritual leader. "This morning most of the group went to meet the Dalai Lama in person at his residence which was amazing," said batsman Will Young. "The boys have had a good chance to obviously get stuck into the cricket but also have a bit of down-time as well." With a 4-1 record midway through the group phase, 2019 runners-up New Zealand are sitting pretty at third in the standings.

Persons: Tom Latham, India's Suryakumar Yadav, Trent Boult, Adnan Abidi, Dalai, Tom Latham's, Lama, Will Young, Kane Williamson, Williamson, Young raved, Ian Ransom, Shri Navaratnam Organizations: Cricket, ICC Cricket, Himachal Pradesh Cricket Association, British, New Zealand, Thomson Locations: India, New Zealand, Himachal, Dharamsala, Australia, Chennai, New, Zealand, Melbourne

☆ Australia central bank chief weighs whether high Q3 inflation warrants rate rise
▼ + stars: | 2023-10-25 | by ( Stella Qiu | ) www.reuters.com time to read: +2 min

SYDNEY, Oct 26 (Reuters) - The head of Australia's central bank on Thursday said the strong third-quarter inflation report was around policymakers' expectations, and they were still considering whether it would warrant a rate rise. Reserve Bank of Australia Governor Michele Bullock warned earlier this week that the central bank will not hesitate to raise interest rates further if there is a "material" upward revision to the outlook. Bullock noted that goods inflation is coming down as desired, but services inflation is higher than what policymakers were comfortable with. The third quarter inflation was higher than what the central bank had forecast in August, which raised concerns about whether the RBA can get inflation back to the target band of 2-3% in late 2025, an already protracted path compared with other major economies. Reporting by Stella Qiu; Editing by Leslie Adler, Sonali Paul and Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Michele Bullock, Bullock, Stella Qiu, Leslie Adler, Sonali Paul Organizations: SYDNEY, Reserve Bank of Australia, Thomson

HONG KONG, Oct 25 (Reuters) - Hong Kong's efforts to revive its shrinking stock market are mere stopgap solutions, as analysts say a reversal in fortunes for Asia's premier financial hub would not be possible without a major improvement in China's economic prospects. With a market value of around $4.3 trillion, Hong Kong is home to one of the top-ranked stock markets globally just behind those in the United States, Japan, China and Europe. New share offerings in Hong Kong have fizzled. Local media reported that a record 47 of the 638 trading participants on the Hong Kong exchange shut shop last year. Chinese firms listed in Hong Kong, such as tech giants Tencent (0700.HK) and Alibaba (9988.HK), comprise the bulk of the turnover on the Hong Kong exchange, leaving Hong Kong hostage to China's fortunes.

Persons: Hong, John Lee, Dickie Wong, Rob Brewis, Aubrey, Eddie Tam, Alvin Cheung, Cheung, ”, Alex Wong, Alex KY, Wong, who'd, Summer Zhen, Xie Yu, Vidya Ranganathan Organizations: Nasdaq, Kingston Securities, Seng China Enterprises, HK, Aubrey Capital Management, Hong, Asset Investments, Prudential, Asset Management Company, Global, Thomson Locations: HONG KONG, China, Hong Kong, United States, Japan, Europe, Shenzhen

A woman looks at items at a shop in Tokyo, Japan, March 24, 2023. The spending plan, to be formally decided by Prime Minister Fumio Kishida's cabinet on Nov. 2, also features payouts to low-income households, the officials said, confirming a report by the Nikkei newspaper. Tax revenue has grown this year, and Murai said the prime minister wanted to find a way to return some of that to the public to support households. "The prime minister will give formal and specific instruction at a meeting tomorrow between officials of the government and the ruling bloc, which will shape up through the ruling party's tax panel debate," Murai said. Kishida is due to discuss wage hikes, among other issues, with auto industry officials when he visits the Japan Mobility Show on Thursday, Murai said.

Persons: Androniki, Fumio Kishida's, Hideki Murai, Murai, Kishida, Takaya Yamaguchi, Yoshifumi Takemoto, Leika Kihara, Shri Navaratnam, Sonali Paul Organizations: REUTERS, Rights, Reuters, Nikkei, Japan, Thomson Locations: Tokyo, Japan, COVID

The logo of SK Hynix is seen at its headquarters in Seongnam, South Korea, April 25, 2016. REUTERS/Kim Hong-Ji/File Photo Acquire Licensing RightsSEOUL, Oct 26 (Reuters) - South Korea's SK Hynix (000660.KS) said a boom in artificial intelligence will drive chip profits after posting a sharply narrower third quarter loss than it did in the previous quarter. SK Hynix said it swung to a 1.8 trillion won ($1.33 billion) third-quarter operating loss from a profit of 1.7 trillion won a year earlier. It was its fourth consecutive quarterly loss, but improved from a trough of a 3.4 trillion won loss in the first quarter and a 2.9 trillion won loss in the second quarter. SK Hynix was ahead of rivals in developing HBM3 chips and securing AI-chip leader Nvidia (NVDA.O) as a client.

Persons: Kim Hong, chipmaker, SK Hynix, LSEG SmartEstimate, 1,351.6200, Joyce Lee, Heekyong Yang, Shri Navaratnam, Jamie Freed Organizations: SK Hynix, REUTERS, Rights, Korea's SK Hynix, SK, Revenue, Samsung Electronics, Analysts, SK Hynix's, Nvidia, Thomson Locations: Seongnam, South Korea, Rights SEOUL, KS

☆ Bitcoin leaps to 2023 high on ETF bets
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +3 min

Bitcoin rose more than 6% to $35,198, its highest since May 2022. It had surged 10% on Monday in its best session for almost a year and its price has doubled in 2023. Crypto-linked shares such as Coinbase Global (COIN.O) or bitcoin owner MicroStrategy (MSTR.O) rose in after-hours trade. An exchange-traded fund (ETF) owning bitcoin on behalf of fund investors is seen as a driver of demand because it would allow anyone reluctant to trade crypto markets a means of buying exposure to bitcoin through the stockmarket. So the ETF would make a large audience and increase liquidity," said Steen Jakobsen, CIO at Saxo.

Persons: Dado Ruvic, MicroStrategy, Steen Jakobsen, Kyle Rodda, Capital.com, Javier Milei, Tom Westbrook, Rae Wee, Brigid Riley, Shri Navaratnam Organizations: REUTERS, BTC, Investment, BlacRock's, Reuters, U.S . Securities, Exchange Commission, Saxo, BlackRock, SEC, Hamas, Thomson Locations: Asia, SINGAPORE, BlackRock, U.S, Singapore, Tokyo

☆ US House Republicans try - again - to pick a leader
▼ + stars: | 2023-10-24 | by ( David Morgan | ) www.reuters.com time to read: +4 min

The sun sets at the U.S. Capitol as House Republican candidates hold a forum before they select the next GOP House Speaker nominee on Capitol Hill in Washington, U.S. October 23, 2023. But after three weeks of infighting, some Republicans predicted that a new speaker could be elected on the House floor quickly. 3 House Republican can point to leadership and campaign fundraising experience that normally would make him a strong candidate for the post. The infighting has left the House unable to respond to President Joe Biden's $106 billion request for aid to Israel, Ukraine and U.S. border security. Republicans control the House by a narrow 221-212 margin, which means they can afford no more than four defections on partisan votes.

Persons: Jonathan Ernst, what's, Don Bacon, Bacon, Tom Emmer, Kevin McCarthy, Steve Scalise, Emmer, Byron Donalds, Kevin Hern, Jim Jordan, Mike Johnson, they're, Anthony D'Esposito, Joe Biden's, Mike Gallagher, Dusty Johnson, David Morgan, Makini Brice, Andy Sullivan, Shri Navaratnam Organizations: U.S, Capitol, House Republican, GOP, REUTERS, Rights, U.S . House, Republican, Republicans, Thomson Locations: Washington , U.S, U.S, Israel, Ukraine

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