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☆ Watch Anderson Cooper react as he realizes Trump is playing the 'Phantom of the Opera' soundtrack at a rally
▼ + stars: | 2023-09-10 | by ( Katie Balevic | ) www.businessinsider.com time to read: +3 min

Anderson Cooper's face was priceless as he recognized "The Phantom of the Opera" at a Trump rally. Andrew Lloyd Webber, the musical's creator, once asked Trump to stop playing his music. The song he recognized was the soundtrack from Andrew Lloyd Webber's "Phantom of the Opera." "Is that — I'm sorry, is that 'The Phantom of the Opera' soundtrack playing?" Trump has an affinity for the "Phantom" soundtrack, MSNBC previously reported, citing a book by Trump's former White House press secretary, Stephanie Grisham.

Persons: Anderson, Donald Trump, Andrew Lloyd Webber, Trump, Anderson Cooper, Andrew Lloyd Webber's, Kyung Lah, Cooper, Trump's, Stephanie Grisham, Webber, Lah, Sinéad O'Connor, dryly, O'Connor Organizations: Trump, Service, CNN, Opera, MSNBC, White House, of Rock, The Daily Sentinel, Sentinel Locations: Wall, Silicon, South Dakota, Irish

Real wages adjusted for inflation fell in July for a 16th straight month in a sign households continued to feel the pinch from rising prices, separate data showed, boding ill for consumption. Exports remained solid in April-June with net external demand contributing 1.8% points to GDP growth, unchanged from the preliminary reading. But shipments to China slumped 13.4% in July to mark the 8th straight month of falls. Japan's economy has seen a delayed recovery from the COVID-19 pandemic this year, as rising living costs faltering global demand cloud the outlook. Given such uncertainties, Bank of Japan policymakers have stressed their resolve to keep monetary policy ultra-loose until the recent cost-driven inflation turns into price rises driven by domestic demand and higher wage growth.

Persons: Kim Kyung, Takeshi Minami, Yoshifumi Takemoto, Sam Holmes Organizations: Food, REUTERS, Norinchukin Research, Private, Bank of Japan, Thomson Locations: Soma, Fukushima Prefecture, Japan, TOKYO, China, Norinchukin

☆ Higher-for-longer rate bets lift dollar, sap stocks
▼ + stars: | 2023-09-07 | by ( Marc Jones | ) www.reuters.com time to read: +6 min

Long-term Treasury yields hovered at a two-week high of nearly 4.28% and close to last month's post-financial crisis highs. "It all goes back to the discussion of where that magical neutral rate happens to be," he said. "While the markets are still feeling around for where that rate may be, it's going to weigh on equities and support the U.S. The dollar index - which measures the currency against six developed-market peers, including the yen and euro - ticked up 0.07% to 104.93. Reporting by Marc Jones; Additional reporting by Kevin Buckland in Tokyo; Editing by Susan FentonOur Standards: The Thomson Reuters Trust Principles.

Persons: Kim Kyung, Robert Alster, Brent, Europe's, hasn't, Kyle Rodda, Kit Juckes, Marc Jones, Kevin Buckland, Susan Fenton Organizations: Tokyo Stock Exchange, REUTERS, U.S, for Supply Management, Federal, Asset Management, Japan's Nikkei, Reuters, Traders, Federal Reserve, Capital.com, U.S ., Treasury, Generale, People's Bank of China, Brent, . West Texas, Thomson Locations: Tokyo, Japan, Europe, U.S, New York, Asia, Melbourne, China

☆ Asia stocks slide on U.S. rate worries, dollar ascendant
▼ + stars: | 2023-09-07 | by ( Kevin Buckland | ) www.reuters.com time to read: +4 min

The U.S. dollar hung close to the highest since mid-March against major peers, and touched a fresh 10-month top to the yen. U.S. stock futures pointed to a 0.1% decline, following a 0.7% slide for the S&P 500 (.SPX) overnight. "It all goes back to the discussion of where that magical neutral rate happens to be," he said. The dollar earlier touched the highest since Nov. 4 versus the yen at 147.875 . Brent crude futures edged up 12 cents to $90.72 a barrel, while U.S. West Texas Intermediate crude (WTI) futures gained 11 cents to $87.65.

Persons: Kim Kyung, Brent, HSI, hasn't, Kyle Rodda, Kevin Buckland, Simon Cameron, Moore Organizations: Tokyo Stock Exchange, REUTERS, Rights, U.S, Japan's Nikkei, Federal Reserve, Capital.com, U.S ., People's Bank of China, Brent, West Texas, Thomson Locations: Tokyo, Japan, United States, Asia, Europe, Melbourne, China, Saudi Arabia, Russia

☆ Tsinghua Unigroup's chief said company will expand internationally, targeting SE Asia
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: 1 min

A researcher plants a semiconductor on an interface board during a research work to design and develop a semiconductor product at Tsinghua Unigroup research centre in Beijing, China, February 29, 2016. REUTERS/Kim Kyung-Hoon/File Photo Acquire Licensing RightsBEIJING, Sept 6 (Reuters) - Chinese state-owned semiconductor company Tsinghua Unigroup plans to accelerate its international expansion, with Southeast Asia one of the most important regions, Chairman Li Bin said Wednesday at the AIPF event in Jakarta during the ASEAN summit. Tsinghua Unigroup operates three factories in Indonesia, Malaysia and Singapore, Li said, and aims to further expand its manufacturing and R&D capabilities in the region. Reporting by Yelin Mo and Brenda Goh; Editing by Tom HogueOur Standards: The Thomson Reuters Trust Principles.

Persons: Kim Kyung, Li Bin, Li, Yelin Mo, Brenda Goh, Tom Hogue Organizations: Tsinghua, REUTERS, Rights, Southeast, ASEAN, Tsinghua Unigroup, Thomson Locations: Beijing, China, Rights BEIJING, Southeast Asia, Jakarta, Indonesia, Malaysia, Singapore

☆ SoftBank's Arm aims for over $52 bln valuation in biggest US IPO of the year
▼ + stars: | 2023-09-05 | by ( Manya Saini | Thomson Reuters | Manya Saini Reports On Prominent Publicly Listed U.S. Financial Firms Including Wall Street S Biggest Banks | ) www.reuters.com time to read: +5 min

The valuation that Arm is chasing now represents a climb-down from the $64 billion valuation at which SoftBank last month acquired the 25% stake it did not already own in the company from its $100 billion Vision Fund. Jamie Mills O’Brien, portfolio manager at British fund manager Abrdn, said he found SoftBank's valuation ask in the IPO "more palatable than initially discussed." REUTERS/Kim Kyung-Hoon/File Photo Acquire Licensing RightsReuters first reported on SoftBank's proposed price range for the IPO on Saturday. If the underwriters exercise their right to buy shares in Arm in full as part of 'greenshoe option', it would take the IPO amount to be raised to $5.2 billion. Arm expects to trade on the Nasdaq Global Select Market under the symbol "ARM".

Persons: Group's, SoftBank, Jamie Mills O’Brien, Abrdn, Kim Kyung, Sara Russo, Bernstein, Goldman Sachs, JPMorgan Chase, Manya Saini, Pablo Mayo, Arun Koyyur, Nick Zieminski Organizations: Vision, Nvidia Corp, Apple, Nvidia, Devices, Intel, Samsung Electronics, REUTERS, Rights Reuters, Acorn Computers, Apple Computer, VLSI Technology, London Stock Exchange, Nasdaq, SoftBank, Barclays, JPMorgan, Mizuho Financial Group, underwriters, Pablo Mayo Cerqueiro, Thomson Locations: United Kingdom, China, United States, New York, Tokyo, Japan, Bengaluru, London

☆ Japan's Mitsubishi Heavy reschedules moon rocket launch for Thursday
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: +1 min

The logo of Mitsubishi Heavy Industries is seen at the company headquarters in Tokyo, Japan December 8, 2022. REUTERS/Kim Kyung-Hoon/file photo Acquire Licensing RightsTOKYO, Sept 4 (Reuters) - Japan's Mitsubishi Heavy Industries (7011.T) said on Monday it planned to launch its H-IIA rocket carrying a moon lander on Thursday morning, after unfavourable wind conditions led to a postponement last month. The new schedule was announced a week after the previous launch attempt, which would have carried Japan's first spacecraft to land on the moon, was suspended because of high winds. H-IIA, jointly developed by JAXA and MHI, has been Japan's flagship space launch vehicle, with 45 successful launches in 46 tries since 2001. After JAXA's new medium-lift H3 rocket failed on its debut in March, the agency postponed the launch of H-IIA No.

Persons: Kim Kyung, JST, Rocky Swift, Mariko Katsumura, Christian Schmollinger, Gerry Doyle Organizations: Mitsubishi Heavy Industries, REUTERS, Rights, Japan Aerospace Exploration, JAXA, Yomiuri, Thomson Locations: Tokyo, Japan

☆ South Korea to provide exporters $137 billion of policy financing until year-end
▼ + stars: | 2023-09-03 | by ( ) www.reuters.com time to read: +1 min

SEOUL, Sept 4 (Reuters) - South Korea will provide up to 181 trillion won ($137 billion) of cheap loans to exporters until the end of this year and waive visa processing fees for Chinese tourists to spur exports and tourism, its finance ministry said on Monday. The government aims to increase the number of Chinese tourists to 1.5 million a month from the current one million by expediting waiving visa fees and coordinating tourist events with retailers. "In September, the trade balance is likely to remain in surplus while the declines in exports will further ease, and exports are likely to swing to growth during the fourth quarter," finance minister Choo Kyung-ho told policymakers at a meeting on Monday. Analysts at ING forecast we third-quarter economic growth will decelerate to 0.2% quarter-on-quarter seasonally adjusted from 0.6% in the second quarter, with domestic demand slowing further. ($1 = 1,317.5500 won)Reporting by Cynthia Kim; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: expediting, Choo Kyung, 1,317.5500, Cynthia Kim, Kim Coghill Organizations: ING, Thomson Locations: SEOUL, South Korea

☆ Nearly 70% of Japan firms yet to disclose strategies for better capital efficiency
▼ + stars: | 2023-08-31 | by ( Makiko Yamazaki | ) www.reuters.com time to read: +2 min

A photographer takes photo of a large screen showing stock prices at the Tokyo Stock Exchange after market opens in Tokyo, Japan October 2, 2020. REUTERS/Kim Kyung-Hoon/File Photo Acquire Licensing RightsCompanies Japan Exchange Group Inc FollowTOKYO, Aug 31 (Reuters) - Nearly 70% of companies listed on the top "prime" section of the Tokyo Stock Exchange (TSE) have yet to respond to the bourse's call for better capital efficiency, a request that helped lift the Japanese market to 33-year highs. "The call has already prompted responses from a certain number of companies," the TSE said in a document released early this week. The remaining 69% made no mention in their annual corporate governance reports, where they are required to disclose such measures. Specific measures include making investments for growth, increasing shareholder returns and revising business portfolios, according to the TSE, owned by Japan Exchange Group (8697.T).

Persons: Kim Kyung, Makiko Yamazaki, Jacqueline Wong Organizations: Tokyo Stock Exchange, REUTERS, Rights, Japan Exchange, TSE, PBR, Japan Exchange Group, Thomson Locations: Tokyo, Japan

☆ Ephemeral but Unforgettable: Korean Experimental Art Is Having a Star Turn
▼ + stars: | 2023-08-31 | by ( Andrew Russeth | ) www.nytimes.com time to read: +1 min

In the midst of this upheaval, young artists pursued radical projects. They had been born during the Japanese occupation and lived through the Korean War; some looked to the past, taking inspiration from Korean folk forms. They forged collectives, holding shows, translating art texts from abroad (travel was restricted) and staging performances along rivers and in theaters. Their genre-defying efforts have come to be categorized as “silheom misul,” experimental art. (Organized with Kang Soojung, a senior curator at Seoul’s National Museum of Modern and Contemporary Art, Korea, or MMCA, the show travels to the Hammer Museum in Los Angeles on Feb.

Persons: Kim Kulim, Kyung, Kang Soojung Organizations: Guggenheim Museum, Guggenheim, National Museum of Modern, Art, Hammer Museum Locations: South Korea, Seoul, New York, Korea, Los Angeles

☆ Japan's Simplex launches first ETFs focused on stocks below book value
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +2 min

A woman uses a mobile phone in front of an electric board displaying the Nikkei stock average outside a brokerage in Tokyo, Japan June 14, 2023. Some 189 companies in the Topix 500 (.TOPX500) trade below book value, compared to 17 in the S&P 500 (.SPX), according to Simplex. The funds launch next week and are focused on the areas of the market where many investors see the most potential. One of the funds, Simplex PBR Improvement over 1x ETF (2080.T), will contain about 500 stocks that average 0.7 times their book value. Simplex is also launching a third ETF (2082.T) focused on stocks where executive pay is tied to corporate performance.

Persons: Kim Kyung, Hiromasa Mizushima, Junko Fujita, Tom Westbrook, Miral Organizations: Nikkei, REUTERS, Rights, Simplex, Management, Japan's Nikkei, Tokyo bourse, Simplex Asset Management, Tokyo Stock Exchange, Thomson Locations: Tokyo, Japan

☆ T-Pain in your living room: Are virtual concerts the future of live entertainment?
▼ + stars: | 2023-08-30 | by ( Samantha Bresnahan | ) edition.cnn.com time to read: +9 min

T-Pain is performing songs that will become a virtual reality (VR) concert, delivered directly to fans via VR headsets. “(Virtual reality) is a very big shift,” says Kyung Kuk Kim, vice president and head of production for AmazeVR. (AmazeVR says it plans to launch the T-Pain concert this Fall.) According to AmazeVR, pricing is currently per concert; it will cost $6.99 for one year of access to the T-Pain concert, for example, after that content launches. It is also producing and releasing mixed reality (MR) concerts – a combination of virtual and augmented reality – by overlaying virtual elements onto live, real-world video.

Persons: ”, I’m, Faheem Rashad Najm, “ I’m, AmazeVR, Megan Thee, “, Kyung Kuk Kim, Kim, Lance Drake, Drake, Mel Slater, Slater, ‘, ’ ”, ” Slater, ’ ” Slater, Jamie McCarthy, they’re, Taylor Swift’s, don’t, AmazeVR’s Kim, it’s, you’re, ” CNN’s Leif Coorlim Organizations: CNN, Florida -, Apple, VR, Dire, YouTube, University of Barcelona, Neuroscience, Technology, UN, Apple Vision Locations: Culver City , California, American, Florida, New York City

☆ Japan considering extending gasoline subsidies to year-end - sources
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

Gasoline fuel guns are pictured in front of fuel boards at a gasoline station in Tokyo, Japan September 20, 2022. REUTERS/Kim Kyung-Hoon/File Photo Acquire Licensing RightsTOKYO, Aug 29 (Reuters) - Japan's government is considering extending until year-end fuel subsidies to keep gasoline prices below 180 yen a litre, while working on a supplementary budget to finance broader measures, three people with direct knowledge of the matter said. Earlier, the sources had said the fuel subsidies would be funded by the supplementary budget. Last week, Prime Minister Fumio Kishida instructed ruling party officials to consider steps to extend the fuel subsidies which were introduced in January 2022 to help ease cost of living pressures. Gasoline prices have been rising steadily in Japan due to the weaker yen and higher global prices.

Persons: Kim Kyung, Komeito, Toshimitsu Motegi, Shunichi Suzuki, Fumio Kishida, Yoshifumi Takemoto, Tetsushi Kajimoto, Katya Golubkova, Muralikumar Anantharaman Organizations: REUTERS, Rights, Liberal Democratic Party, Finance, Thomson Locations: Tokyo, Japan

☆ South Korea focuses on fiscal discipline with smallest budget increase in two decades
▼ + stars: | 2023-08-29 | by ( Jihoon Lee | ) www.reuters.com time to read: +3 min

A South Korea won note is seen in this illustration photo May 31, 2017. In its annual spending plan released on Tuesday, the finance ministry set total government expenditure for 2024 at 656.9 trillion won ($496.70 billion), up 2.8% from 2023. Big spending increases include social welfare, up by 7.5% to 242.9 trillion won, defence up 4.5% to 59.6 trillion won and corporate support by 4.9% to 27.3 trillion won. The government will issue 158.8 trillion won of treasury bonds in 2024, down from a total of 167.8 trillion won planned for this year. The net increase in treasury bonds is projected at 50.3 trillion won.

Persons: Thomas White, Yoon Suk, Choo Kyung, 1,322.5400, Jihoon Lee, Shri Navaratnam Organizations: South, REUTERS, Rights, Thomson Locations: South Korea, Rights SEOUL

☆ BOJ's Ueda: Underlying inflation still a bit below target
▼ + stars: | 2023-08-26 | by ( ) www.reuters.com time to read: +2 min

Bank of Japan Governor Kazuo Ueda speaks at a group interview with media in Tokyo, Japan, May 25, 2023. "We think that underlying inflation is still a bit below our target," Ueda said. Japan's core consumer inflation hit 3.1% in July, staying above the central bank's 2% inflation target for the 16th straight month, as companies continued to pass on higher costs to households. Nevertheless, inflation "is expected to decline" from here, he said, with the underlying trend still less than the target. It also sets an allowance band of 50 basis point around the 10-year yield target.

Persons: Kazuo Ueda, Kim Kyung, JACKSON, Ueda, Howard Schneider, Leika Kihara, Andrea Ricci, Diane Craft Organizations: Japan, REUTERS, Bank of Japan's, Reserve, Thomson Locations: Tokyo, Japan, , Wyoming

☆ Asia stocks track Wall Street rally as treasury yields retreat
▼ + stars: | 2023-08-24 | by ( Julie Zhu | ) www.reuters.com time to read: +3 min

REUTERS/Kim Kyung-Hoon/File Photo Acquire Licensing RightsHONG KONG, Aug 24 (Reuters) - Asian shares rallied on Thursday after blockbuster results from tech darling Nvidia (NVDA.O) boosted Wall Street and a retreat in U.S. bond yields eased pressure on borrowing costs globally. Early in the Asian trading day, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was up 0.7%, also lifted by Nvidia's bullish outlook. Australian shares (.AXJO) edged up 0.27%, while Japan's Nikkei stock index (.N225) rose 0.23%. On Wednesday, U.S. stocks ended sharply higher across the board as shares of Nvidia jumped nearly 10% in trading after the bell, hitting an all-time high after it forecast third-quarter revenue well above Wall Street targets. On Wall Street, the Dow Jones Industrial Average (.DJI) rose 0.54%, the S&P 500 (.SPX) gained 1.10% and the Nasdaq Composite (.IXIC) added 1.59%.

Persons: Kim Kyung, HONG KONG, Jerome Powell, Jackson, Powell, HSI, Brent, Lincoln Organizations: Tokyo Stock Exchange, REUTERS, Federal, ANZ, Japan's Nikkei, Nvidia, Dow Jones, Nasdaq, Treasuries, Thomson Locations: Tokyo, Japan, HONG, Jackson Hole , Wyoming, U.S, South Korea, Indonesia, Asia, Pacific, United States

☆ China Construction Bank H1 profit up 3.36%
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +1 min

China Construction Bank Corp (CCB) logo is seen on its headquarters in Beijing, China, March 31, 2016. REUTERS/Kim Kyung-Hoon/File Photo Acquire Licensing RightsSummaryCompanies H1 net profit 167.34 bln yuan vs 161.9 bln year agoNIM 1.79% end-June vs 1.83% end-MarchNPL ratio 1.37% end-June vs 1.38% end-MarchBEIJING/SHANGHAI, Aug 23 (Reuters) - China Construction Bank Corp (CCB)(601939.SS), the first of the country's Big Five lenders to report half-year results this week, posted a 3.36% rise in first-half net profit on Wednesday. China's second-biggest lender by assets saw profits rise to 167.34 billion yuan ($22.95 billion), a filing by the bank showed. The bank said it will continue to fulfill the responsibilities of a major state bank and provide strong financial support for the real economy for the rest of this year. ($1 = 7.2901 Chinese yuan renminbi)Reporting by Ziyi Tang and Engen Tham; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Kim Kyung, China's, CCB, CCB's, Ziyi Tang, Engen, Jason Neely Organizations: China Construction Bank Corp, REUTERS, Thomson Locations: China, Beijing, BEIJING, SHANGHAI

☆ JPMorgan sees Japan's threshold for yen intervention at around 150 yen per dollar
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Kim Kyung-Hoon/File Photo Acquire Licensing RightsLONDON, Aug 21 (Reuters) - Japan's threshold for currency market intervention on the yen is likely to be around 150 per dollar, investment bank JPMorgan's analysts said on Monday. "We think that the MoF (Ministry of Finance Japan) will not intervene in the FX market at around (the) 145 level. Our threshold level of JPY buying intervention is around 150," they said in a note. The yen was trading at 145.87 to the dollar on Monday, having been as weak as 146.56 last week. "Intervention needed is not as acute as in the September and October intervention cases," they said.

Persons: Kim Kyung, Marc Jones, Dhara Organizations: National Printing Bureau, Bank of Japan, REUTERS, Ministry of Finance Japan, Thomson Locations: Tokyo, Japan

REUTERS/Kim Kyung-Hoon/file photo Acquire Licensing RightsAug 18 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. At the very least, investors are nervous and scrambling to adjust to the higher yield environment. But given the tightening of financial conditions around the world, investors remain wary. The 10-year U.S. Treasury yield is above 4.30%, a whisker from highs not recorded since 2007 and the 10-year real yield at almost 2.0% is already at levels last seen in 2009. This is taking its toll - financial conditions across emerging markets are the tightest since early December, according to Goldman Sachs's EM financial conditions index, and risk assets are getting pounded.

Persons: Kim Kyung, Jamie McGeever, Bonds, Japan's, Goldman Sachs's, Josie Kao Organizations: REUTERS, U.S, Treasury, Bank of, People's Bank of China, Thomson, Reuters Locations: Ameyoko, Tokyo, Japan, Bank of Japan, China, Asia, Malaysia

Construction workers take a nap in front of a wall of a construction site during their lunch break in Beijing, China, May 5, 2015. REUTERS/Kim Kyung-Hoon /File PhotoAug 15 (Reuters) - China suspended publication of its youth jobless data on Tuesday, saying it needed to review the methodology behind the closely watched benchmark, which has hit record highs in one of many warning signs for the world's second-largest economy. Fu Linghui, a spokesman for the National Bureau of Statistics (NBS), said the release of data would be suspended while authorities look to "optimise" collection methods. "The declining availability of macro data may further weaken global investors' confidence in China," said Ting Lu, chief China economist at Nomura, adding that youth unemployment was expected to have risen in July. The most recent NBS data on youth unemployment, published last month, showed the jobless rate jumping to a record high of 21.3% in June.

Persons: Kim Kyung, Fu Linghui, Fu, Ting Lu, Tuesday's, Laurie Chen, Albee Zhang, Muralikumar Anantharaman, Sam Holmes, Gerry Doyle Organizations: REUTERS, National Bureau of Statistics, Nomura, China News Service, Thomson Locations: Beijing, China, Weibo

Japan’s Q2 GDP grows fastest in more than two yearsMarcel Thieliant, head of Asia-Pacific at Capital Economics, said the export-driven momentum in growth is unlikely to be sustained. Exports expanded 3.2% in the second quarter led by car exports and inbound tourism, while capital expenditure was flat. Strong U.S. and European demand has also supported exports while the post-COVID boom in foreign tourists has given the economy a much-needed tailwind. That boost in external demand, or net exports, added 1.8 percentage points to second quarter growth. It doesn't mean a strong recovery in Japanese economy," said Takumi Tsunoda, senior economist at Shinkin Central Bank Research Institute.

Persons: Kim Kyung, Marcel Thieliant, Thieliant, Takumi Tsunoda, Shigeyuki Goto, Goto, Tetsushi Kajimoto, Pasit Kongkunakornkul, Sam Holmes Organizations: REUTERS, TOKYO, Capital Economics, Private, U.S, Shinkin Central Bank Research Institute, The Bank of Japan, Thomson Locations: Tokyo, Japan, Asia, China

☆ Japan Q2 GDP growth led by exports, weak consumption a source of concern
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +1 min

FILE PHOTO-A cargo ship and containers are seen at an industrial port in Tokyo, Japan, February 15, 2022. The gross domestic product (GDP) figure translated to a quarterly increase of 1.5%, bigger than a median estimate for 0.8% in a Reuters poll of 18 economists. By key sub-sectors, private consumption, which makes up more than half of the world's third-largest economy, fell 0.5% quarter-on-quarter. Exports expanded 3.2%, while capital expenditures were flat. Reporting by Tetsushi Kajimoto and Kantaro Komiya Editing by Chang-Ran KimOur Standards: The Thomson Reuters Trust Principles.

Persons: Kim Kyung, Tetsushi Kajimoto, Chang, Ran Kim Organizations: REUTERS, Thomson Locations: Tokyo, Japan

☆ Asian shares slip on China worries; U.S. inflation figures awaited
▼ + stars: | 2023-08-10 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

REUTERS/Kim Kyung-HoonSINGAPORE, Aug 10 (Reuters) - Asian stocks lost ground on Thursday, still hurting from China's slip into deflation, with investors particularly cautious ahead of a crucial U.S. inflation report that will likely influence the Federal Reserve's monetary policy path. The announcement of a U.S. ban on investments in sensitive technologies in the world's second-largest economy also weighed on sentiment. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.33% and it looked set to log a second straight week of losses. China is the first G20 economy to report a year-on-year decline in consumer prices since Japan's last negative headline CPI reading in August 2021. Investors have also been unwilling to place major bets this week ahead of a U.S. inflation report due later on Thursday.

Persons: Kim Kyung, Hong, HSI, Rodrigo Catril, Joe Biden, Brent, Ankur Banerjee, Edwina Gibbs Organizations: Yen, REUTERS, Hoon, Federal, Japan's Nikkei, National Australia Bank, Wednesday, Saxo Markets, U.S, CPI, Reuters, Treasury, Thomson Locations: Tokyo, Japan, Hoon SINGAPORE, U.S, Asia, Pacific, Shanghai, China, Beijing, Saudi, Russian

☆ China's July new yuan loans seen dipping after record H1 - Reuters poll
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +3 min

Chinese banks are estimated to have issued 800 billion yuan ($110.98 billion) in net new yuan loans last month, down sharply from 3.05 trillion yuan in June, according to the median estimate in the survey of 29 economists. But the expected new loans would be higher than the 679 billion yuan issued in the same month a year earlier. Chinese banks doled out 15.73 trillion yuan in new loans in the first six months of this year, the highest first-half number on record, central bank data showed. Outstanding yuan loans were expected to grow by 11.3% in July from a year earlier, the same as in June, the poll showed. In July, TSF is expected to fall sharply to 1.10 trillion yuan from 4.22 trillion yuan in June.

Persons: Kim Kyung, TSF, Judy Hua, Kevin Yao, Conor Humphries Organizations: REUTERS, Thomson Locations: Beijing, China, BEIJING

☆ DAZN to stream Saudi Pro League matches in six countries including UK, Germany
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Kim Kyung-Hoon/File PhotoAug 9 (Reuters) - DAZN has secured the rights to stream Saudi Pro League matches for a two-year period in the UK, Ireland, Germany, Austria, Belgium and Canada, the sports video service said on Wednesday. As part of the deal, DAZN will stream three Saudi league matches per week. Since the capture of Portugal forward Ronaldo, the Saudi league has grown in stature by signing top players from Europe, including Ballon d'Or winner Karim Benzema who left Real Madrid to join champions Al-Ittihad. "The RSL (Roshn Saudi League) is rapidly developing into an international phenomenon, attracting some incredible talent that will only improve an already strong and vibrant competition," Shay Segev, DAZN Group CEO, said in a statement. The new season kicks off on Friday with Al-Ahli -- who have signed Champions League winners like Riyad Mahrez, goalkeeper Edouard Mendy and Roberto Firmino -- taking on Al-Hazm.

Persons: Kim Kyung, DAZN, Cristiano Ronaldo, Sadio Mane, Ronaldo, Ballon, Karim Benzema, Shay Segev, Riyad Mahrez, Edouard Mendy, Roberto Firmino, Rohith Nair, Ken Ferris Organizations: REUTERS, Saudi Pro League, Saudi, Al, Bayern Munich, Real, DAZN, RSL, League, Thomson Locations: Tokyo, Japan, Ireland, Germany, Austria, Belgium, Canada, Portugal, Europe, Real Madrid, Ittihad, Saudi League, Ahli, Bengaluru

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