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☆ As global stocks fall, Asia-Pacific's benchmark index erases all of its gains for 2023
▼ + stars: | 2023-03-14 | by ( Jihye Lee | ) www.cnbc.com time to read: +2 min

On Tuesday, bank stocks in Japan declined sharply, weighing on the wider Topix, which led the sell-off in Asia-Pacific. Tokyo-listed shares of Mitsubishi UFJ Financial Group fell 8.59%, Sumitomo Mitsui Financial Group shed 7.57% and Mizuho Financial Group dropped 7.14%. Yeap also noted indexes such as the Straits Times Index in Singapore has close to 45% of its weightage in bank stocks. Stock Chart Icon Stock chart iconNomura equity strategists including Chetan Seth reiterated their February call and still expect more gains for the index. "We are inclined to believe that these issues will not be systemic to the health of the banking sector," he said.

☆ Most Asian equities see outflows in Feb as rate-hike jitters weigh
▼ + stars: | 2023-03-07 | by ( Gaurav Dogra | ) www.reuters.com time to read: +2 min

Foreigners sold equities worth a net $2.1 billion in Thai, Indian, the Philippine and Vietnam markets, data from stock exchanges showed. The trend of money flowing from South Asia into North Asian equities continued in February due to China's plans to reopen borders. Thai equities suffered $1.28 billion worth of foreign outflows, the biggest monthly net selling by outsiders since April 2020. Meanwhile, Indian and Philippine equities also recorded $647 million and $155 million worth of foreign outflows. On the other hand, Indonesian equities received $378 million in February after seeing outflows worth $1.55 billion in the previous two months.

☆ Gold eases as traders fret about interest rates
▼ + stars: | 2023-03-06 | by ( ) www.cnbc.com time to read: +2 min

Gold prices ticked lower on Monday as central banks indicated further interest rate hikes to tame stubbornly high inflation, diminishing bullion's appeal as a hedge against price increases. Spot gold was down 0.1% at $1,853.99 per ounce, as of 0305 GMT, after climbing to its highest since Feb. 15 on Friday. Interest rate hikes to contain high inflation discourage investors from placing money in non-yielding assets such as gold. Richmond Fed President Thomas Barkin said on Friday he could see U.S. rates in the 5.5%-5.75% range. Spot silver firmed 0.1% to $21.27 per ounce, platinum slipped 0.3% to $974.36 and palladium was down 0.2% at $1,449.82.

☆ Oil settled up as rising supplies face Chinese demand hopes
▼ + stars: | 2023-03-01 | by ( ) www.cnbc.com time to read: +3 min

Permian Basin rigs in 2020, when U.S. crude oil production dropped by 3 million a day as Wall Street pressure forced cuts. Oil prices settled up slightly on Wednesday as signs of ample supply, including growing U.S. crude inventories, offset growing hopes for higher demand after a jump in manufacturing in top crude importer China. Brent crude futures settled up 86 cents, or 1%, to $84.31 a barrel. In other signs of ample supply, Russia's oil production reached the pre-sanctions level for the first time in February, the Kommersant business daily reported. An official index showed China's manufacturing activity expanded in February at the fastest pace in more than a decade, feeding hopes for a boost in oil demand.

☆ Gold edges up as dollar weakens, rate-hike worries cap gains
▼ + stars: | 2023-02-24 | by ( ) www.cnbc.com time to read: +2 min

Gold prices rose on Friday as the dollar weakened, though investor worries that recent economic data could lead the U.S. Federal Reserve to keep raising interest rates capped gains. Separately, data showed fourth-quarter personal consumption expenditures (PCE) price index rose 3.7%, revised up from a previous estimate of 3.2%. Thursday's reports are the latest in a flurry of data that has fueled concerns that interest rates would stay higher for longer. The Fed's preferred inflation measure, the PCE data for January, is due at 1330 GMT and will be closely watched. "A lower-than-expected read could see some paring back of hawkish bets, which could prompt renewed upside in gold."

☆ Gold subdued as investors brace for U.S. inflation data
▼ + stars: | 2023-02-13 | by ( ) www.cnbc.com time to read: +2 min

REUTERS/Alexander ManzyukGold prices edged lower on Monday on a firmer dollar as investors squared positions before U.S. inflation data that could influence the Federal Reserve's rate-hike roadmap. Spot gold was down 0.2% at $1,861.95 per ounce, as of 0302 GMT. Bullion is often seen as an inflation hedge, but the opportunity cost of holding it is higher when interest rates are raised to combat inflation. Data on Tuesday is likely to show the U.S. monthly consumer prices climbing 0.4% month-on-month in January, according to a Reuters survey of economists. The Labor Department's annual revisions of CPI data on Friday showed the consumer price index edged up 0.1% in December rather than dipping 0.1% as reported last month.

☆ Asian stocks draw massive foreign inflows on softer dollar, growth optimism
▼ + stars: | 2023-02-09 | by ( Gaurav Dogra | ) www.reuters.com time to read: +2 min

They had sold $57.2 billion in regional equities last year. Taiwan and South Korea witnessed their biggest monthly purchases in at least two years, with net inflows amounting to about $6.6 billion and $5 billion, respectively. "That may account for the strong inflows in Taiwan and South Korea, which are more growth-exposed." Meanwhile, equity markets in Thailand, Vietnam and the Philippines also received $565 million, $178 million and $122 million worth of foreign money, respectively. Indian equities witnessed $3.52 billion worth of outflows due to higher valuations and the fallout from the slump in Adani Group stocks.

☆ Gold firms as dollar inches lower; Powell's speech in focus
▼ + stars: | 2023-02-07 | by ( ) www.cnbc.com time to read: +2 min

Gold prices rose on Tuesday as the dollar pulled back slightly, with traders awaiting U.S. Federal Reserve Chair Jerome Powell's speech later in the day for hints about future rate hikes after last week's strong economic data. Gold prices had shot over the $1,900-an-ounce threshold in January on hopes of slower Fed rate hikes, but prices have since retreated. Market participants will be keenly watching Powell's speech to see if he turns hawkish after last week's stunning jobs data. Gold is sensitive to high interest rates, which lift the opportunity cost of holding the non-yielding asset. Spot silver rose 0.3% to $22.33 per ounce, platinum XPT= eased 0.1% to $970.94 and palladium edged 0.1% lower to $1,596.74.

☆ Gold steadies after steep sell-off, but bound for weekly drop
▼ + stars: | 2023-02-03 | by ( ) www.cnbc.com time to read: +2 min

Gold bullion bars are pictured after being inspected and polished at the ABC Refinery in Sydney on August 5, 2020. Gold prices steadied on Friday after a sharp sell-off in the previous session, as traders digested rate-hike remarks from global central banks, but the metal was set for its first weekly drop in seven amid a strong dollar. Therefore, it may trigger some near-term profit-taking, "but for gold prices, a greater conviction for sellers could be a break below the $1,895 level, where dip-buyers were seen stepping in this week just before the meeting," the analyst added. Gold prices have gained about $300 since November on expectations of softer rate hikes from the U.S. central bank, as a lower interest rate environment reduces the opportunity cost of holding non-yielding bullion. The U.S. dollar, meanwhile, was up 0.1%, keeping a leash on gold prices.

☆ Gold slips as dollar firms ahead of U.S. inflation data
▼ + stars: | 2023-01-27 | by ( Ashitha Shivaprasad | ) www.reuters.com time to read: +2 min

Spot gold was down 0.3% at $1,923.33 per ounce, as of 0648 GMT, shedding 0.2% so far in the week. Gold is seeing a pull-back as the dollar is on the higher side and the U.S. GDP data is also slightly pressuring prices, said Ajay Kedia, director at Kedia Commodities, Mumbai. Data on Thursday showed the U.S. economy grew at a faster pace in the December quarter than economists had expected, prompting bets the Fed would keep rates higher for longer. Investors are now awaiting U.S. personal consumption expenditures (PCE) data, the Fed's preferred inflation measure, at 1330 GMT for cues on the central bank's path forward. A downside surprise in the data may point towards a less-hawkish Fed, which could drive gold prices higher in the longer run, said IG Market strategist Yeap Jun Rong.

☆ Gold little changed ahead of U.S. inflation data
▼ + stars: | 2023-01-27 | by ( ) www.cnbc.com time to read: +1 min

Gold prices were little changed on Friday as traders awaited U.S. inflation data, due later in the day, to gauge the Federal Reserve's stance on further interest rate hikes. Spot gold was flat at $1,927.99 per ounce as of 0234 GMT, while U.S. gold futures were off 0.1% at $1,928.30. Investors are now awaiting U.S. personal consumption expenditures (PCE) data, the Fed's preferred inflation measure, at 1330 GMT for cues on the central bank's path forward. The GDP data points to a resilient U.S. economy but there were some signs of challenges to the economy, which kindled some hopes of a less aggressive Fed, Yeap said. Lower interest rates tend to be beneficial for bullion as it lowers the opportunity cost of holding the non-yielding asset.

TOKYO/SINGAPORE, Jan 25 (Reuters) - Crude oil prices inched higher on Wednesday as optimism for a demand recovery in China and expectations that major producers will maintain current output policy offset global recession worries. U.S. West Texas Intermediate (WTI) crude climbed 7 cents, or 0.1%, to $80.20, after a 1.8% drop on Tuesday. An OPEC+ panel is likely to endorse the producer group's current oil output policy when it meets next week, five OPEC+ sources said on Tuesday, as hopes for higher Chinese demand are balanced by worries over inflation and the global economy. OPEC+ in October decided to trim output by 2 million barrels per day from November through 2023 on a weaker economic outlook. However, gains in oil prices were capped by a bigger-than-expected build in U.S. oil inventories that was reported after the market settled on Tuesday.

TOKYO/SINGAPORE, Jan 25 (Reuters) - Crude oil edged up on Wednesday as optimism for demand recovery in China and a likely unchanged output cut decision by major oil producers offset global recession worries. Brent crude rose 22 cents, or 0.3%, to $86.35 per barrel by 0501 GMT after falling 2.3% in the prior session. An OPEC+ panel is likely to endorse the producer group's current oil output policy when it meets next week, five OPEC+ sources said on Tuesday, as the hopes for higher Chinese demand are balanced by worries over inflation and the global economy. OPEC+ in October decided to trim output by 2 million barrels per day from November through 2023 on a weaker economic outlook. However, gains in oil prices were capped by a bigger-than-expected build in U.S. oil inventories that was reported after the market settled on Tuesday.

☆ Gold set for fifth straight weekly rise on Fed slowdown bets
▼ + stars: | 2023-01-20 | by ( Ashitha Shivaprasad | ) www.reuters.com time to read: +2 min

Spot gold was little changed at $1,930.04 per ounce, as of 0308 GMT and was up 0.5% for the week. With lower rates translating into lesser returns on interest-bearing assets like government bonds, investors may prefer zero-yield gold. The dollar index was headed for a second consecutive weekly drop, making bullion cheaper for overseas buyers. Both metals headed for a second straight week of declines. Reporting by Ashitha Shivaprasad in Bengaluru; Editing by Rashmi Aich and Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

Jan 10 (Reuters) - Oil edged lower on Tuesday on expectations that further interest rate hikes in the United States, the world's biggest oil user, will slow economic growth and limit fuel demand. Brent futures for March delivery fell 43 cents to $79.22 a barrel, a 0.5% drop, by 0522 GMT. U.S. West Texas Intermediate crude fell 36 cents, or 0.5%, to $74.27 per barrel. But analysts warned that China's demand revival may play limited role to drive up oil prices under the global economic downward pressure. Separately, U.S. crude oil stockpiles likely fell 2.4 million barrels, with distillate inventories also seen slightly down, a preliminary Reuters poll showed on Monday.

☆ Gold prices steady as focus shifts to Powell's speech
▼ + stars: | 2023-01-10 | by ( Ashitha Shivaprasad | ) www.reuters.com time to read: +2 min

SummarySummary Companies U.S. CPI report due on ThursdayHawkish tone from Fed could prompt profit-taking - analystJan 10 (Reuters) - Gold prices were steady on Tuesday, with cautious traders largely focusing on Federal Reserve Chair Jerome Powell's speech for insights into the U.S. central bank's rate-hike trajectory. Spot gold held its ground at $1,872.79 per ounce, as of 0333 GMT. Investors' focus is on Powell's speech at a central bank conference later in the day. "Gold prices are hitting a key resistance at the $1,875 level ... A hawkish tone in Fed Chair Powell's speech later today could prompt some near-term profit-taking in gold," said IG Market strategist Yeap Jun Rong. "However, market is on the watch for a downside surprise in the U.S. CPI to support the less-hawkish rate-hike expectations, which could translate to upside for gold prices."

☆ Alibaba shares hit 6-month high after Jack Ma cedes control of Ant Group, amid a broad rally in Asian shares
▼ + stars: | 2023-01-09 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

The gains also come on the back of a broader market rally in Asian shares, thanks to China's reopening. A top Chinese central banker suggested over the weekend Beijing's tech crackdown is coming to a close. The Hang Seng Tech Index — an index that tracks the 30 largest tech companies listed in Hong Kong — closed 3.2% higher. Shares of Hong Kong-listed Chinese tech giants Tencent and NetEase closed 3.6% and 2.6% higher respectively. Hong Kong's Hang Seng Index closed 1.9% higher, the Shanghai Composite Index gained 0.6%, and the Shenzhen Composite Index rose 0.7%.

☆ Gold rises, set for weekly gain with spotlight on U.S. jobs data
▼ + stars: | 2023-01-06 | by ( Ashitha Shivaprasad | ) www.reuters.com time to read: +2 min

Spot gold rose 0.3% to $1,838.38 per ounce, as of 0238 GMT. The market's focus shifts to the U.S. Labor Department's closely watched nonfarm payrolls (NFP) data due at 1330 GMT. "Higher-than-expected job gains and more persistent wage pressures may be catalysts to add pressure on gold," said IG Market strategist Yeap Jun Rong. "Gold prices have been finding its way higher since November as bullish bets in dollar and yields unwind. For 2023, gold prices may continue to draw in buyers but it might face some risk from hawkish pushback from policymakers."

☆ Jack Ma's Alibaba, China tech giants are making a comeback post zero Covid
▼ + stars: | 2023-01-05 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Chinese tech giants are witnessing a dream start to the year. US-listed shares of Chinese e-commerce firms Alibaba (BABA), JD.com (JD) and Pinduoduo (PDD) added $53 billion to their combined market value on Wednesday. The surge comes as investors are feeling optimistic that Chinese regulators will go easy on tech firms this year and also introduce measures to boost growth in the industry. The change in sentiment comes after Jack Ma’s Ant Group won a key approval for capital expansion. Chinese tech companies have faced a sweeping regulatory crackdown since late 2020, which drove investors away.

☆ Asian stocks in 2022 suffer biggest foreign outflows since 2008 global crisis
▼ + stars: | 2023-01-04 | by ( Gaurav Dogra | ) www.reuters.com time to read: +2 min

Jan 4 (Reuters) - Foreign investors withdrew more money from emerging Asian equities in 2022 than they had done in any year since the global financial crisis in 2008, as rising U.S. interest rates pulled funds towards dollar assets. Data from stock exchanges in Taiwan, India, the Philippines, Vietnam, Thailand, Indonesia and South Korea showed foreigners sold equities worth $57 billion last year, the biggest outflow since 2008. Taiwanese equities faced outflows worth $41.6 billion last year, leading the regional sales, while India and South Korea witnessed an outgo of $15.4 billion and $9.6 billion, respectively. Yearly foreign investment flows: Asian equitiesHit by falling foreign demand and a worsening economic outlook, the MSCI's Asia Pacific index (.MIWD00000PUS) plunged 19.4% last year - the biggest fall since dropping 43.3% in 2008. On the flip side, India, Vietnam and Thailand received net inflows of $1.36 billion, $559 million and $372 million, respectively, in December.

The Chinese government increased export quotas for refined oil products in the first batch for 2023, signalling expectations of poor domestic demand. read more"The market remains worried about the impact of macro factors such as the economic downward pressure," said analysts from Haitong Futures. Lending oil some support, the dollar weakened on Wednesday after posting big gains in the previous session. A weaker dollar typically boosts demand for oil as dollar-denominated commodities become cheaper for holders of other currencies. U.S. crude oil stockpiles likely rose 2.2 million barrels, with distillate inventories also seen down, a preliminary Reuters poll showed on Monday.

☆ Oil trims losses as softer dollar offsets Chinese demand fears
▼ + stars: | 2022-12-29 | by ( Rowena Edwards | ) www.reuters.com time to read: +2 min

LONDON, Dec 29 (Reuters) - Oil prices pared losses after falling by over $2 earlier in the session, as a weaker dollar partially offset demand fears resulting from surging COVID-19 cases in China. U.S. West Texas Intermediate crude futures fell $1.07, or 1.36%, to $77.89 a barrel, after reaching session lows of $76.79. A weaker dollar makes oil cheaper for holders of other currencies and can boost demand. U.S. crude oil inventories fell less than expected, by about 1.3 million barrels, in the week ended Dec. 23, according to market sources citing American Petroleum Institute figures. Markets, however, drew some support from Russian President Vladimir Putin's ban on exports of crude oil and oil products from Feb. 1 for five months to nations that abide by a Western price cap.

☆ Oil falls as China COVID spike dampens demand outlook
▼ + stars: | 2022-12-29 | by ( Rowena Edwards | ) www.reuters.com time to read: +2 min

LONDON, Dec 29 (Reuters) - Oil prices fell by over 2% on Thursday as surging COVID-19 cases in China dimmed hopes of a recovery in fuel demand for the world's largest crude oil importer. U.S. crude oil inventories fell less than expected, by about 1.3 million barrels, in the week ended Dec. 23, according to market sources citing American Petroleum Institute figures. Markets, however, drew some support from Russian President Vladimir Putin's ban on exports of crude oil and oil products from Feb. 1 for five months to nations that abide by a Western price cap. Germany said the ban has "no practical significance" as the country has been working since spring to replace Russian oil supplies and ensure security of supply. Russian oil pipeline operator Transneft said Kazakhstan's KazTransOil had requested an additional 1.2 million tonnes of capacity on the Druzhba pipeline for 2023 to facilitate extra oil shipments to Germany, the RIA Novosti news agency reported.

SINGAPORE, Dec 29 (Reuters) - Oil prices dipped on Thursday as surging COVID-19 cases in China dimmed hopes of a recovery in fuel demand for the world's largest crude oil importer. Brent futures for February fell 26 cents, or 0.3%, to $83.00 a barrel by 0430 GMT, while U.S. crude fell 26 cents, or 0.3%, to $78.70 a barrel. U.S. crude oil inventories fell less than expected, by about 1.3 million barrels, in the week ended Dec. 23, according to market sources citing American Petroleum Institute figures. However, that comes as an Arctic freeze has forced some oil refining facilities offline, backing up crude supplies. Markets, however, drew some support from Russian President Vladimir Putin's ban on exports of crude oil and oil products from Feb. 1 for five months to nations that abide by a Western price cap.

☆ Oil rebounds on optimism over China's revamp of COVID protocols
▼ + stars: | 2022-12-08 | by ( Jeslyn Lerh | ) www.reuters.com time to read: +2 min

Brent crude futures rose $1 or 1.3% at $78.17 per barrel by 0750 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained $1 or 1.4% to $73.01 per barrel. Brent settled on Wednesday below the year's previous closing low touched on the first day of 2022, while U.S. West Texas Intermediate crude fell to its lowest for the year. While U.S. crude stocks fell last week, gasoline and distillate inventories surged, adding to concerns about easing demand. Gasoline stocks grew by 5.3 million barrels in the week to 219.1 million barrels, and distillate stockpiles, including diesel and heating oil, swelled by 6.2 million barrels, the Energy Information Administration said on Wednesday. U.S. crude production also trended higher, rising to 12.2 million barrels per day last week, its highest level since August, the EIA said.

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