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☆ 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

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

☆ 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

☆ 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

☆ 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

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

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

☆ 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'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

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

☆ 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

Argentina's presidential candidate Sergio Massa addresses supporters, as he reacts to the results of the presidential election, Argentina October 22, 2023. Bonds have also been slipping, while the stock market - seen as a relative safe haven for local investors - has been jittery. A local market operator, who asked not to be named, agreed there would likely not be a big market slide on Monday. "I believe the market will open downwards but there will be a floor at which there would be some demand," he said. Reporting by Jorge Otaola and Walter Bianchi; Editing by Adam Jourdan and Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Sergio Massa, Mariana Nedelcu, Javier Milei, Salvador Vielli, Vielli, Bonds, Patricia Bullrich, Roberto Geretto, Adcap, Milei, Jorge Otaola, Walter Bianchi, Adam Jourdan Organizations: REUTERS, Peronist Economy, Massa, Thomson Locations: Argentina, BUENOS AIRES, Milei

☆ Frail yen grazes 150 again as anxiety mounts over Middle East
▼ + stars: | 2023-10-23 | by ( Vidya Ranganathan | ) www.reuters.com time to read: +4 min

Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. U.S. Treasuries were subdued as investors hunkered down for a European Central Bank meeting and U.S. GDP data later in the week. "Potentially there are two camps out fighting around 150, so that's why dollar-yen doesn't move from here," Yamamoto said. While there was some speculation the BOJ might once again tweak its yield-curve policy band at a scheduled policy review next week, the BOJ had also shown it will not let domestic yields rise sharply, he said. Yields dipped on Friday after the BOJ announced more loans to encourage financial institutions to buy JGBs.

Persons: Florence Lo, Jerome Powell, Masafumi Yamamoto, Yamamoto, Sean Callow, Shri Navaratnam, Simon Cameron, Moore Organizations: U.S, REUTERS, Rights, Hamas, United, European Central Bank, Bank of Japan, Mizuho Securities, Westpac, Brent, ECB, Reuters, Thomson Locations: Rights SINGAPORE, Asia, Gaza, United States, U.S, Tokyo, East

☆ Asia shares slip on Middle East woes, rising yields
▼ + stars: | 2023-10-23 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

Passersby walk past an electric monitor displaying the Japanese yen exchange rate against the U.S. dollar outside a brokerage in Tokyo, Japan October 4, 2023. Bonds were also under pressure as U.S. 10-year Treasury yields crept to within a whisker of 5.0%, pushing borrowing costs up across the globe and testing equity valuations. On Monday, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) slipped 0.4% to its lowest in almost a year. Both S&P 500 futures and Nasdaq futures added 0.2%, underpinned by hopes a rush of earnings reports this week will provide some support. Oil prices gave back some ground in the absence of any disruption to supplies from the Middle East, at least for now.

Persons: Issei Kato, Bonds, Israel, Bruce Kasman, outperformance, Gold, Brent, Wayne Cole, Shri Navaratnam Organizations: U.S, REUTERS, Nikkei, Washington, European Central Bank and Bank of Canada, Federal Reserve, Japan's Nikkei, FTSE, Nasdaq, Microsoft, IBM, Intel, JPMorgan, Bank of Japan, Swiss, Thomson Locations: Tokyo, Japan, China, SYDNEY, Gaza, Lebanon, Asia, Pacific

REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsSummary Oil prices drop on Friday but gain over 1% for the weekHamas releases two US hostages in GazaEarlier, Israeli minister said troops to see Gaza 'from inside'Global oil market already faces supply concernsBENGALURU, Oct 20 (Reuters) - Oil prices settled lower on Friday after the Islamist group Hamas released two U.S. hostages from Gaza, leading to hopes the Israeli-Palestinian crisis could de-escalate without engulfing the rest of the Middle East region and disrupting oil supplies. Brent crude futures fell 22 cents, or 0.2%, to settle at $92.16 a barrel. U.S. West Texas Intermediate crude futures for November delivery , which expired after settlement on Friday, fell 62 cents, or 0.7%, to $88.75 a barrel. Hamas' armed wing released two U.S. hostages from Gaza - a mother and her daughter - "for humanitarian reasons" in response to Qatari mediation efforts in the war with Israel, its spokesman Abu Ubaida said on Friday. "The report took some of the risk premium out of the market," said Phil Flynn, analyst at Price Futures Group.

Persons: Andrew Kelly, Abu Ubaida, Phil Flynn, Yoav Gallant, John Kilduff, Kilduff, Giovanni Staunovo, Brent, Staunovo, Shariq Khan, Paul Carsten, Florence Tan, Sudarshan, Shri Navaratnam, Jason Neely, David Gregorio, Jane Merriman Organizations: REUTERS, Hamas, Brent, . West Texas, Price Futures, Israeli, Pentagon, UBS, U.S . Commodity Futures Trading Commission, Thomson Locations: Manhattan , New York City, U.S, Gaza, BENGALURU, Hamas, Israel, Yemen, New York, Saudi Arabia, Russia

A person puts gas in a vehicle at a gas station in Manhattan, New York City, U.S., August 11, 2022. Brent crude futures rose $1.00, or 1.1%, to $93.26 a barrel by 11:24 a.m. EDT (1524 GMT). Both front-month contracts were headed for a second weekly gain on heightened fears of the Middle East conflict spreading. "The Middle East remains a big focus of the market because of fears of a region-wide conflict that would likely involve a disruption of oil supplies," said John Kilduff, a partner at New York-based Again Capital. "Venezuelan oil production will not be a significant factor in shaping the global oil balance in the foreseeable future," Tamas Varga of oil broker PVM wrote in a note.

Persons: Andrew Kelly, Brent, John Kilduff, Kilduff, Yoav Gallant, Washington's, Phil Flynn, Tamas Varga, PVM, Shariq Khan, Paul Carsten, Florence Tan, Sudarshan, Shri Navaratnam, Jason Neely, David Gregorio Our Organizations: REUTERS, . West Texas, Israeli, Pentagon, . Strategic Petroleum Reserve, Price Futures, Reuters, Thomson Locations: Manhattan , New York City, U.S, Gaza, Venezuela, BENGALURU, Israel, New York, Yemen, Saudi Arabia, Russia, OPEC

All three benchmarks had gained more than $1 in earlier trading, and both front-month contracts are set to record a second weekly gain as an explosion at a Gaza hospital this week and an anticipated ground invasion by Israeli troops heightened fears of the conflict spreading in the Middle East. "Signs that an Israeli ground offensive in the Gaza Strip is imminent have been pushing oil prices up significantly since yesterday. So far, however, the supply situation on the market has not changed," Commerzbank analysts wrote in a note on Friday. Oil prices are "likely to remain well supported, especially as the oil market is significantly undersupplied at present", they said. "Venezuelan oil production will not be a significant factor in shaping the global oil balance in the foreseeable future," Tamas Varga of oil broker PVM wrote in a note.

Persons: Andrew Kelly, Brent, Yoav Gallant, Tamas Varga, PVM, Paul Carsten, Florence Tan, Sudarshan, Shri Navaratnam, Jason Neely Organizations: REUTERS, Brent, . West Texas, Israeli, Pentagon, Strategic Petroleum Reserve, U.S . Department of Energy, Reuters, Thomson Locations: Manhattan , New York City, U.S, Gaza, Venezuela, Israel, Yemen, Saudi Arabia, Russia, United States, Washington, OPEC, London

Both front-month contracts are set to record a second weekly gain as an explosion at a Gaza hospital this week and an anticipated ground invasion by Israeli troops heightened fears of the conflict spreading in the Middle East. "Signs that an Israeli ground offensive in the Gaza Strip is imminent have been pushing oil prices up significantly since yesterday. So far, however, the supply situation on the market has not changed," Commerzbank analysts wrote in a note on Friday. Oil prices are "likely to remain well supported, especially as the oil market is significantly undersupplied at present", they said. "Venezuelan oil production will not be a significant factor in shaping the global oil balance in the foreseeable future," Tamas Varga of oil broker PVM wrote in a note.

Persons: Andrew Kelly, Brent, Yoav Gallant, Tamas Varga, PVM, Paul Carsten, Florence Tan, Sudarshan, Shri Navaratnam, Jason Neely Organizations: REUTERS, Minister, Brent, . West Texas, Israeli, Pentagon, Strategic Petroleum Reserve, U.S . Department of Energy, Reuters, Thomson Locations: Manhattan , New York City, U.S, Gaza, Venezuela, Israel, Yemen, Saudi Arabia, Russia, United States, Washington, OPEC, London

☆ Dollar toys with 150 level vs yen after Powell/Treasuries double-whammy
▼ + stars: | 2023-10-20 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

[1/2] Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. Speculators have almost doubled their bullish dollar positions against other G10 currencies this month to the most in a year. This week's bond sell-off has raised the chances of a break of 150 in the currency. Money markets show traders fully expect to see no change in rates at the Fed's next policy meeting. The Swissie was last down against the dollar, which rose 0.2% to 0.8935 per dollar.

Persons: Florence Lo, Jerome Powell, Jeremy Stretch, Stretch, Omori, POWELL, Powell, Ray Attrill, he's, Sterling, Carol Kong, Rae Wee, Kevin Buckland, Shri Navaratnam, Kim Coghill, Angus MacSwan Organizations: U.S, REUTERS, Federal, Treasury, Swiss, Japan's, of Finance, CIBC Capital Markets, Ministry, Finance, Mizuho Securities, National Australia Bank, Commonwealth Bank of Australia, Thomson Locations: Treasuries, Japan, Tokyo, U.S, Asia, China, Singapore

Japanese national flag is hoisted atop the headquarters of Bank of Japan in Tokyo, Japan September 20, 2023. The benchmark JGB yield climbed to 0.845% right at the start of the trading day, its highest since July 2013, after revisiting peaks the previous day as well. But it eased immediately after the BOJ announcement, and was last 1.0 basis point (bp) lower than Thursday's closing level at 0.83%. The BOJ caps the 10-year yield at 1% under its yield curve control (YCC) policy, after doubling it in a surprise move at the end of July. "If the yen crosses 150, it would of course be more difficult for the BOJ to intervene in the JGB market.

Persons: Issei Kato, Masayuki Kichikawa, YCC, Fumio Kishida, Brigid Riley, Kevin Buckland, Shri Navaratnam Organizations: Bank of Japan, REUTERS, Rights, Sumitomo Mitsui DS Asset Management, Treasury, Thomson Locations: Tokyo, Japan, U.S

A person puts gas in a vehicle at a gas station in Manhattan, New York City, U.S., August 11, 2022. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsSINGAPORE, Oct 20 (Reuters) - Oil prices extended gains on Friday and were on track for a second week of increases on heightened fears that the Israel-Gaza conflict may spread in the Middle East and disrupt supplies from one of the world's top-producing regions. Both contracts are on track to post a second weekly gain as an explosion at a Gaza hospital this week and the anticipated ground invasion by Israeli troops heightened fears of the conflict spreading in the Middle East. "The prospect of more Venezuela oil did little to ease concerns of disruptions in the Middle East," analysts at ANZ Research said in a note to clients on Friday. Reporting by Florence Tan and Sudarshan Varadhan; Editing by Gerry Doyle and Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, Tony Sycamore, Yoav Gallant, Sycamore, Florence Tan, Sudarshan, Gerry Doyle Organizations: REUTERS, Rights, Brent, . West Texas, Israel Defence Forces, Israeli, U.S, Pentagon, Strategic Petroleum Reserve, U.S . Department of Energy, Reuters, ANZ Research, Thomson Locations: Manhattan , New York City, U.S, Rights SINGAPORE, Israel, Gaza, Yemen, Saudi Arabia, Russia, United States, Washington, Venezuela, OPEC

☆ Asian shares hit 11-month low on Middle East anxiety, surging yields
▼ + stars: | 2023-10-20 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

On Friday, the Bank of Japan intervened in the Japanese government bond (JGB) market as the 10-year JGB yield touched a decade high. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) skidded 0.8% to a fresh low since November last year, bringing the weekly loss to a sizeable 3%. "World leaders continue to trek to the Middle East to – if nothing else — delay the onset of any further hostility," said Kyle Rodda, senior financial market analyst at capital.com. Oil prices are headed for the second weekly gain on supply fears from an escalating regional conflict in the Middle East. "Now we’re talking about not just the Ukraine-Russia conflict, that front, but now you have another front, that’s in the Middle East that has to be satisfied...

Persons: Jerome Powell, Hong, HSI, Joe Biden, Israel, Kyle Rodda, Brent, Powell, Quincy Krosby, Stella Qiu, Shri Navaratnam Organizations: SYDNEY, Bank of Japan, Tokyo's Nikkei, Elon, U.S, LPL, Washington, Thomson Locations: East, Middle, Asia, Pacific, Japan, China, Iran, Yemen, Israel, Ukraine, Russia, U.S

Summary Sept core consumer prices up 2.8% yr/yr vs f'cast +2.7%Core-core index up 4.2% yr/yr in Sept - govtData among factors to come under scrutiny at BOJ's Oct meetingTOKYO, Oct 20 (Reuters) - Japan's core inflation in September slowed below the 3% threshold for the first time in over a year but stayed above the central bank target, keeping alive expectations that policymakers will phase out ultra-easy monetary policy. "While inflation weakened in September, we think inflation will only fall below the BoJ's 2% target by the end of next year," said Marcel Thieliant, head of Asia-Pacific at Capital Economics. The nationwide core consumer price index (CPI), which excludes volatile fresh food costs, rose 2.8% in September from a year earlier - the first time it has slowed below 3% since August 2022, government data showed on Friday. All the same, the rate has tracked above the BOJ's 2% target for 18 straight months. Reporting by Takahiko Wada and Leika Kihara; Editing by Muralikumar Anantharaman and Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Marcel Thieliant, Takahiko Wada, Leika, Muralikumar Anantharaman Organizations: Bank of Japan, Capital Economics, Thomson Locations: TOKYO, Asia

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