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☆ China's stocks, yuan tumble as COVID protests rattle nerves
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: +4 min

A U.S. crackdown on Chinese tech giants citing national security concerns also weighed on shares of technology firms. Nevertheless, the social unrest and rising coronavirus cases had fuelled expectations of an earlier end to China's zero-COVID policy, putting a floor under stocks and boosting tourism and consumer shares. "The market does not like uncertainties that are difficult to price and the China protests clearly fall into this category. While state media has not reported the protests, photos and videos of the protests circulated on social media. "The demonstrations ... mean the current COVID policy mix is no longer politically sustainable.

"Protests are a concern in the short-term," Seema Shah, chief strategist at $500 billion asset manager Principal Global Investors told Reuters, adding that latest events supported the view that winds were changing. "While we have been cautious, there is an important shift going on with the COVID reopening." If protests were to continue, this would add to the risk premium, said Sean Taylor, chief investment officer for Asia-Pacific at DWS Group. "We believe this divergence in view will drive an outperformance in A shares over H shares," Tang said. We also view China’s sluggish recovery as a risk for the global economy and markets."

☆ Asia stocks advance as investors await U.S. midterm election results
▼ + stars: | 2022-11-09 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 0.45% higher, while Japan's Nikkei (.N225) rose 0.2% and Australian stocks (.AXJO) gained 0.70%. China stocks soared last week on hopes that authorities in the country would relax their zero-COVID policy, but rising COVID-19 cases have tempered expectations. Results of the U.S. midterm elections will decide whether the Democrats lose or retain congressional control halfway through President Joe Biden's term, with investors expecting Republican gains. /FRXOil prices were mostly unchanged in early trade on Wednesday, after sliding 3% in the previous session on demand worries. U.S. crude recently fell 0.01% to $88.90 per barrel and Brent was at $95.40, up 0.04% on the day.

☆ Oil prices slide as hopes for China demand rebound fade
▼ + stars: | 2022-11-07 | by ( Florence Tan | ) www.reuters.com time to read: +3 min

Mandatory credit Kyodo/via REUTERSCompanies Sumitomo Chemical Co Ltd FollowSINGAPORE, Nov 7 (Reuters) - Oil prices fell more than $1 a barrel on Monday after Chinese officials on the weekend reiterated their commitment to a strict COVID containment approach, dashing hopes of an oil demand rebound at the world's top crude importer. Brent crude futures dropped $1.20, or 1.2%, to $97.37 a barrel by 0227 GMT, after hitting as low as $96.50 earlier. "Oil prices dropped sharply as the Chinese officials vowed to stick to the COVID-zero policy while infected cases climbed in China, which may cause more restrictions measures, darkening the demand outlook," CMC Markets analyst Tina Teng said. A jump in the U.S. dollar is also weighing on oil prices, she added. Oil prices are underpinned by expectations of tighter supplies as the European Union's embargo on Russia's seaborne crude exports will start on Dec. 5 while refineries worldwide are ramping up output to meet strong diesel demand.

☆ Oil falls as China sticks to strict COVID policy
▼ + stars: | 2022-11-06 | by ( Florence Tan | ) www.reuters.com time to read: +2 min

[1/2] An aerial view shows an oil factory of Idemitsu Kosan Co. in Ichihara, east of Tokyo, Japan November 12, 2021, in this photo taken by Kyodo. Mandatory credit Kyodo/via REUTERSSINGAPORE, Nov 7 (Reuters) - Oil prices fell more than 2% at the start of Asia trade on Monday after Chinese officials on the weekend reiterated their commitment to a strict COVID containment approach, dashing hopes of an oil demand rebound at the world's top crude importer. Brent crude futures dropped $1.58, or 1.6%, to $96.99 a barrel by 2336 GMT, after hitting as low as $96.50 earlier. "Oil prices dropped sharply as the Chinese officials vowed to stick to the COVID-zero policy while infected cases climbed in China, which may cause more restrictions measures, darkening the demand outlook," CMC Markets analyst Tina Teng said. A jump in U.S. dollar is also weighing on oil prices, she added.

☆ Stocks in Asia rise on China reopening hopes
▼ + stars: | 2022-11-04 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

The Hong Kong index was set for its biggest weekly gain in over a decade. European stock futures indicated stocks were set to gain, with the Eurostoxx 50 futures up 0.67%, German DAX futures up 0.45% and FTSE futures up 0.63%. Hong Kong and China stocks have moved sharply through the week. Rumours based on an unverified note circulated on social media on Tuesday that China was planning a reopening from strict COVID curbs in March. Additional reporting by Summer Zhen in Hong Kong; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

☆ China leads Asia stocks higher, dollar advances as rate hikes loom
▼ + stars: | 2022-11-04 | by ( Ankur Banerjee | ) www.reuters.com time to read: +2 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 1.09% higher, while Australia's S&P/ASX 200 index (.AXJO) rose 0.27%. China's stock market (.SSEC) was 1% higher, with Hong Kong's Hang Seng Index (.HSI) surging 3%. On Thursday, U.S. stocks closed lower for a fourth consecutive session, while Treasury yields jumped, with the two-year note climbing above 4.7%. The U.S. dollar index , which measures the greenback against a basket of currencies, firmed to 112.90, after surging 0.8% overnight and touching a roughly two-week high of 113.15. U.S. crude futures were up 0.59% at $88.69 per barrel by midmorning and Brent was at $95.16, up 0.52%.

☆ Analysis: China's markets clutch at economy reopening straws
▼ + stars: | 2022-11-04 | by ( ) www.reuters.com time to read: +4 min

Nearly three years after the coronavirus was first detected in central China, daily cases hit a six-month high on Friday. Even the unverified social media post on Tuesday that sparked the market's exuberance said a "Reopening Committee" would not aim at relaxing the curbs before March. China stocks market cap'THE TEST OF HISTORY'But cooler heads warn that China's trajectory of COVID rule relaxation will not resemble this week's stock charts. Reopening from COVID will likely take "a steady and gradual approach", similar to China's lengthy but successful economic liberalisation, said Zhang Kaihua, a Nanjing-based hedge fund manager. Yin Peixin, investment manager at Shanghai Jianlong Asset Management Co., said: "If our leadership doesn't stick with zero-COVID, China will be thrown into a hellish condition."

☆ Oil climbs 4% as dollar slips and EU ban looms
▼ + stars: | 2022-11-04 | by ( Julia Payne | ) www.reuters.com time to read: +3 min

Both contracts were supported by a weaker dollar , which can boost oil demand because it makes the commodity cheaper for those holding other currencies. While demand concerns weighed on the market, supply is expected to remain tight because of Europe's planned embargoes on Russian oil and a slide in U.S. crude stockpiles. "The slight weakness in the dollar, the upcoming ban on Russian oil sales are certainly supportive as focus is shifting from recession fears to supply issues," said PVM Oil Associates analyst Tamas Varga. "The main catalyst, however, is reports that China may ease its zero-Covid restrictions, which would be a boon to its economy and oil demand." The EU ban on Russian crude imports is due to take effect from Dec. 5.

☆ Asian shares slip, yen steady ahead of Bank of Japan meeting
▼ + stars: | 2022-10-28 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

SINGAPORE, Oct 28 (Reuters) - Asian equities edged lower on Friday as investors grappled with mixed earnings reports, while the Japanese yen held firm ahead of the Bank of Japan's policy review. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was down 0.32%, set to snap a three-day winning streak. On Thursday, the European Central Bank raised interest rates again, but said "substantial" progress had already been made in its bid to fight off a surge in inflation. The central bank is set to keep ultra-low interest rates and remind markets it will remain a dovish outlier among a wave of central banks tightening monetary policy. Inflation in the Tokyo area thus exceeded the central bank's 2% target for five straight months.

☆ Asia shares jump as investors anticipate smaller interest rate rises
▼ + stars: | 2022-10-27 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 1.59% higher and set for third straight session of gains. China's stock market (.SSEC) opened 0.1% higher on Friday, with Hong Kong's Hang Seng Index (.HIS) up 2.6% at the open. U.S. Treasury yields fell, helped by a weaker dollar and the expectations of the Fed becoming less hawkish. The slide in dollar has also helped push gold prices higher, with spot gold scaling a two-week high on Wednesday. Oil prices continued to rise in early Asian trade on Thursday after surging more than 3% in the previous session.

☆ China to promote foreign investment in manufacturing
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Tingshu WangBEIJING, Oct 25 (Reuters) - China said on Tuesday it will promote foreign investment with a focus on manufacturing industries, after President Xi Jinping called in China to "win the battle" in core technologies during the Communist Party Congress that ended over the weekend. China will encourage foreign enterprises to invest in high-tech equipment and components, according to a statement published on the website of National Development and Reform Commission, China's powerful planning agency. China will also strengthen financial support for foreign enterprises, including fund-raising by eligible enterprises through listings on China's stock markets, the statement said. Tuesday's statement also promised support for foreign enterprises posting personnel to China. Register now for FREE unlimited access to Reuters.com RegisterReporting by Liangping Gao and Ryan Woo; Editing by Edmund KlamannOur Standards: The Thomson Reuters Trust Principles.

☆ China is an 'attractive market' with 'inexpensive' stocks after big drops, fund manager says giving 3 picks
▼ + stars: | 2022-10-25 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

"China, in particular, is an attractive market [when stocks are] under 10 times earnings," Arcese said when speaking to CNBC "Pro Talks." The average price target of 291 Hong Kong dollars ($37.1) means analysts expect the stock to rise by 105% over the next 12 months. Alibaba, JD's competitor and one of the largest companies in China, is buy-rated by 45 out of 47 analysts surveyed by FactSet. The median price target at 135 HKD signifies a 119% upside potential. On average, analysts have a 397 HKD price target on the stock equating to a 92% upside.

☆ Asian shares lower, yields rise on aggressive rate hike jitters
▼ + stars: | 2022-10-21 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

SINGAPORE, Oct 21 (Reuters) - Asian shares tracked Wall Street lower on Friday while Treasury yields scaled 14-year highs as the prospect of aggressive interest rate hikes from the Federal Reserve and recession risks soured investor sentiment. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was down 0.55% but above the two-and-a-half year low it touched on Thursday. Australia's resources-heavy share index (.AXJO) lost 0.74%, while Japan's Nikkei (.N225) opened 0.38% lower. U.S. benchmark 10-year Treasury yields to as much as 4.234%, its highest level since June 2008. Register now for FREE unlimited access to Reuters.com RegisterReporting by Ankur Banerjee; Editing by Lincoln FeastOur Standards: The Thomson Reuters Trust Principles.

☆ Stocks sag, bond yields firm as yen sinks further
▼ + stars: | 2022-10-20 | by ( Huw Jones | ) www.reuters.com time to read: +5 min

The strong dollar continued to loom over currency markets, with the yen sinking to a 32-year low against the greenback. U.S. 10-year Treasury yields touched a 14-year high, while 2-year German government bond yields rose to their highest since December 2008. But earnings are likely to fall next year which, along with anticipated interest rate hikes in the United States and elsewhere, are already largely priced into markets, Osman said. China's stock market (.SSEC) fell while Hong Kong stocks (.HSI) hit levels last seen during the 2008-09 global financial crisis. The rise in the dollar and yields pushed gold lower, with prices lingering at a three-week trough on Thursday.

☆ Asia stocks slide as investors lose risk appetite, yields rise
▼ + stars: | 2022-10-20 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

Japan's yen crept close to the psychological barrier of 150 per dollar after earlier marking a fresh 32-year low of 149.93. The yield on the 10-year U.S. Treasury US10YT=RR note touched a fresh 14-year high, brushing off a weak housing report. U.S. 10-year yields were last up at 4.139%, beyond the 4.136% high it touched earlier. China's stock market (.SSEC) opened 0.5% lower as the ruling Communist Party's twice-a-decade congress remains in session this week. The rise in the dollar and yields pushed gold lower, with prices lingering at a three-week trough on Thursday.

☆ Asia stocks slip as risk appetite wanes on rate-hike fears
▼ + stars: | 2022-10-20 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

European stock futures indicated stocks were set to decline, with Eurostoxx 50 futures down 0.43%, German DAX futures down 0.45% and FTSE futures down 0.25%. "Yields rose to fresh cycle highs and risk appetite soured," said Taylor Nugent, a markets economist at National Australia Bank in Sydney. China's stock market (.SSEC) fell on Thursday while Hong Kong stocks (.HSI) hit levels last seen during the 2008-09 global financial crisis. Sterling fell 0.2% to $1.12005 even as the inflation data showed food prices have jumped the most since 1980. /FRX"I think the risk of another intervention continues to be very high," said Commonwealth Bank of Australia strategist Carol Kong.

☆ Asia stocks, pound savour the relief of UK U-turn
▼ + stars: | 2022-10-18 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

U.S. futures also pointed to a higher opening with S&P 500 futures up 1.6% and Nasdaq futures up 1.8%. The Australian dollar rose on Tuesday after the Reserve Bank of Australia said it expects to raise interest rates further over the coming months. Intervention is more about speed of moves than it is levels, said Ray Attrill, head of foreign-exchange strategy at National Australia Bank. "I don't think the Japanese authorities are particularly keen to see dollar yen at 150 in the immediate term and that's why markets are being a bit guarded." Brent crude futures rose 74 cents, or 0.8%, to $92.36 per barrel by 0505 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 78 cents, or 0.9%, to $86.24 per barrel.

☆ Asia stocks rise as relief rally builds after UK U-turn
▼ + stars: | 2022-10-18 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 0.43%, while Japan's Nikkei (.N225) was up 0.6%. The Australian dollar rose on Tuesday after the Reserve Bank of Australia said it expects to raise interest rates further over the coming months. The yen touched a fresh 32-year low of 149.10 per dollar on Monday, not far off the psychological metric of 150. read moreBrent was up 0.08% to $91.69 a barrel, while U.S. crude rose 0.04% to $85.49 per barrel. Register now for FREE unlimited access to Reuters.com RegisterEditing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

☆ As Xi opens congress, China's state hands keep markets steady
▼ + stars: | 2022-10-17 | by ( ) www.reuters.com time to read: +4 min

SHANGHAI, Oct 17 (Reuters) - As Chinese President Xi Jinping opened the landmark Communist Party Congress, the country's vast financial bureaucracy has been busily tamping down ripples of turmoil across its currency and stock markets. Scores of companies have announced share buybacks or executive share purchase plans since Friday, when regulators unveiled plans to ease share buyback rules. Investors and analysts believe government pressure on China's largely state-controlled fund sector may have played a role in the stock market rebound. Xia Chun, chief economist at wealth manager Yintech Investment Holdings, said this follows a pattern of China stocks typically rising before a party congress and then likely falling afterwards. On Monday, several state-controlled asset managers including E Fund Management Co, China Southern Asset Management Co and Zhongtai Securities Asset Management said they were investing their own money to buy products, echoing an identical refrain of confidence in China's capital markets.

☆ Morning Bid: Mystery Dance
▼ + stars: | 2022-10-14 | by ( ) www.reuters.com time to read: +4 min

A look at the day ahead in U.S. and global markets from Mike Dolan. Sudden and sometimes unexplained stock rallies are often hallmarks of prolonged bear markets. U.S. stock futures have retraced a bit - but an hour is a long time in markets these days. read moreElsewhere, China's stocks surged ahead of the Communist Party Congress and amid an expected rise in domestic inflation. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

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