Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "Seng Index"


25 mentions found


TOKYO (AP) — Shares declined Wednesday in Asia after disappointingly high U.S. inflation data sent stocks sliding on Wall Street and raised prospects that interest rates will remain elevated for longer. Hong Kong’s Hang Seng index resumed trading after the Lunar New Year holiday, edging 0.7% higher to 15,861.77 after opening lower. High interest rates hurt all kinds of investments, and they tend to particularly hurt high-growth stocks like technology companies. Stocks of smaller companies fell even more because high rates could hurt them more than bigger rivals by making it more difficult to borrow cash. Yields jumped in the bond market as traders built up expectations for the Fed to keep rates high for longer.
Persons: Australia's, Korea's Kospi, Sensex, Tuesday’s, Russell, Alexandra Wilson, Elizondo, Carl Icahn Organizations: TOKYO, , Nikkei, Federal Reserve, Labor Department, Dow Jones, Nasdaq, Microsoft, Fed, Treasury, Goldman, Goldman Sachs Asset Management, Wall, JetBlue Airways, New York Mercantile Exchange, Brent, U.S Locations: Asia, Indonesia, Southeast, China, Bangkok, Goldman Sachs
Asia-Pacific markets were set to track Wall Street losses after U.S. January inflation came in hotter than expected, with the consumer price index climbing 3.1% on a 12-month basis and 0.3% for the month. Economists polled by Dow Jones expected the CPI to have increased by 0.2% month over month in January and 2.9% on an annual basis. Core prices, which exclude volatile food and energy components, rose 0.4% month over month and 3.9% from a year ago. Core CPI was expected to have increased 0.3% in January and 3.7% from a year earlier, respectively. Japan's Nikkei 225 was also set to retreat from 34-year highs, with the futures contract in Chicago at 37,715 and its counterpart in Osaka at 37,670 against the index's last close of 37,963.97.
Persons: Dow Jones, Masato Kanda Organizations: U.S, CPI, Nikkei, Reuters, Stock Locations: Asia, Pacific, Australia, Chicago, Osaka
AdvertisementChina's economy and markets were weak coming into 2024, but investor sentiment could worsen after the ongoing Chinese New Year break. "Service consumption growth will likely slow sharply after the Chinese New Year holiday on fading pent-up demand and weakening consumer confidence," the economists wrote. Authorities have pulled more than a dozen moves since January to try to stabilize the stock market rout and support downbeat property market demand amid its real-estate crisis. After all, there were suggestions earlier that authorities are considering a stabilization fund to rescue the flailing stock market. AdvertisementMainland stock markets are closed this week for public holidays.
Persons: , Rich Lesser, Lesser, Hang, Xi Jinping Organizations: Beijing, Service, Chinese Ministry of Commerce, Nomura, Boston Consulting, Hang Seng China Enterprises, Authorities Locations: China, Beijing, Hong Kong
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewChina's extended stock market rout was so bad that leader Xi Jinping was set to personally pay attention to it — and it looks like his solution was to fire the country's top markets regulatory late on Wednesday. After all, there were suggestions earlier that authorities are considering a stabilization fund to rescue the flailing stock market. Stock markets in China and Hong Kong have accelerated losses into 2024. The analysts at the Eurasia Group aren't the only ones who say China needs to double down on economic reforms to shore up its economy.
Persons: , Xi Jinping, Wu Qing, Xi, Eswar Prasad, China's Organizations: Service, China Securities Regulatory, Bloomberg, Business, Eurasia Group, Eurasia Group aren't, Cornell University, International Monetary Fund, Nikkei, Index, Hong Kong Stock Exchange Locations: China, Hong Kong, Beijing
A butcher (L) shows a piece of pork to a customer at a market in Beijing on July 10, 2019. NICOLAS ASFOURI | AFP | Getty ImagesAsia-Pacific markets are set to rise as investors look toward China's inflation figures for and the Reserve Bank of India's rate decision. China's consumer price index for January is expected to fall 0.5% year-on-year, while the Reserve Bank of India is forecast to hold rates at 6.5%. Japan's Nikkei 225 is also set to rise, with the futures contract in Chicago at 36,375 and its counterpart in Osaka at 36,280 against the index's last close of 36,119.92. However, futures for Hong Kong's Hang Seng index stood at 16,024, pointing to a weaker open compared with the HSI's last close of 16,081.89.
Persons: NICOLAS ASFOURI Organizations: AFP, Getty, Reserve Bank, Reserve Bank of, Nikkei Locations: Beijing, Asia, Pacific, Reserve Bank of India, Australia, Chicago, Osaka
Markets have rallied on the news as it's stoking hopes that China will roll out a forceful rescue plan. China and Hong Kong's stock markets have lost nearly $7 trillion from their peaks in 2021. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The plan is to brief the country's top leaders about the state of the markets, Bloomberg reported, citing unnamed people with knowledge of the matter. But some analysts see these moves as less powerful than Xi's personal participation in stabilizing the markets — even though it's unclear if any new support measures will result from the meeting, Bloomberg reported.
Persons: Xi Jinping, it's stoking, , Hang Seng, Xi, Li Weiqing, Li Organizations: Bloomberg, Markets, Service, China Securities Regulatory Commission, Hang, CSI, ING, Investment Management, Business Locations: China, Hong, Hong Kong, Beijing, Singapore
The Shanghai Composite, mainland China’s benchmark index for large state-owned companies and blue-chip stocks, ended up 3.2% on Tuesday, ending a six-day losing streak. By Monday, about $6.1 trillion in market value had been wiped from the Chinese and Hong Kong stock markets since their recent peaks in February 2021. Central Huijin Investment, the equity arm of state-owned China Investment Corp, announced Tuesday that it had recently expanded its holdings of exchange-traded funds (ETFs) on mainland stock markets. The intensified efforts came after Chinese markets resumed their slide on Monday, when more than 1,800 stocks fell by more than 10% in Shanghai and Shenzhen. Tuesday’s rally in China was in contrast to other markets in the region.
Persons: , Australia’s, Evergrande, Anna Cooban Organizations: Hong Kong CNN, Alibaba, Huijin Investment, China Investment Corp, China Securities Regulatory Commission, Central Huijin Investment, Embassy, Nikkei, Kospi Locations: China, Hong Kong, Shanghai, Shenzhen, Europe, Beijing, United States
CNBC Daily Open: Wall Street anxious over Fed concerns
  + stars: | 2024-02-06 | by ( Sumathi Bala | ) www.cnbc.com   time to read: +2 min
U.S. Federal Reserve Board Chairman Jerome Powell speaks during a news conference at the headquarters of the Federal Reserve on January 31, 2024 in Washington, DC. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Overnight, U.S. stocks lost ground and Treasury yields rose amid lingering concerns that the Federal Reserve may not cut rates as much as expected. About 97% of the oil produced today was discovered in the 20th century, she told CNBC. "It's the banks that made bad decisions that are making [other] banks look attractive in pricing," Smead told CNBC, who picked two bank stocks that are in play.
Persons: Jerome Powell, Dow, Vicki Hollub, Cole Smead, Smead Organizations: Federal Reserve, CNBC, Nasdaq, UBS, Occidental Locations: Washington ,, China, Hong Kong, Asia, Pacific, Beijing, Swiss
CNBC Daily Open: A scorching start for U.S. jobs growth
  + stars: | 2024-02-05 | by ( Sumathi Bala | ) www.cnbc.com   time to read: +2 min
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. "We just want some more confidence before we take that very important step of beginning to cut interest rates," he said. Gold, silver advanceGold and silver could rise further this year on hopes that the U.S. Federal Reserve will lower interest rates, said UBS. "Also, this comes with a weaker dollar," said Joni Teves, adding gold will likely hit $2,200 per ounce in 2024.
Persons: Jerome Powell, Hong, Joni Teves Organizations: CNBC, U.S . Federal, CSI, Dow, Nasdaq, UBS, U.S, Senators, House Republicans, Citi Locations: China, U.S, Ukraine, Israel
Read previewChina's stock market watchdog upped its game over the weekend after its brutal week of selloff, vowing to prevent "abnormal market fluctuations" — but stock market investors don't seem quite convinced. These continued gyrations in China and Hong Kong's stock markets have widened losses that are now totaling $7 trillion following an extended market meltdown since their peaks in 2021, as foreign investors beeline for the exit. Still, Beijing's frequent pronouncements on market stabilization may not be a bad thing. Advertisement"The frequency of these statements may indicate market stabilization is becoming more important for policymakers," wrote analysts at Dutch bank ING wrote on Monday. "Formalization of a potential market stabilization fund could provide a short-term boost for markets but investor sentiment remains downbeat for now, awaiting improvement in fundamentals," the ING analysts added.
Persons: , selloff, Vishnu Varathan, Nomura Organizations: Service, China Securities Regulatory Commission, Business, Asia Asia, Mizuho Bank, Nomura, ING, Bloomberg Locations: China, Asia, Japan, Shanghai, Hong, Beijing
Jade Gao | Afp | Getty ImagesAsia-Pacific stocks were set for a mixed open as they kickstart a holiday-shortened trading week for some markets. Investors will watch out for key central bank decisions this week, especially from the Reserve Bank of Australia on Tuesday and the Reserve Bank of India on Thursday. On Monday, private surveys on service sector activity will be released from China and Hong Kong. Hong Kong's Hang Seng index is also set to fall, with futures at 15,412 compared to the HSI's close of 15,533.56. China, Taiwan, South Korea, Singapore, and Hong Kong will all see shortened trading weeks as the Lunar New Year approaches.
Persons: Jade Gao, Hong Organizations: Central Business District, Afp, Getty, Investors, Reserve Bank of Australia, Reserve Bank of India, Nikkei Locations: Beijing, Asia, Pacific, China, Hong Kong, Singapore, Thailand, Australia, Chicago, Osaka, Taiwan, South Korea
Chinese stocks have given up much of their recent gains as investors debate whether the bottom is really in. They screened for names with more than $1 billion in capitalization and expectations for earnings growth in the next two years. Such signals come at a time when Chinese stocks have sold off sharply. Chinese stocks – whether measured by those that trade in the mainland, Hong Kong or U.S. – have fallen for more than two years. "In the past Chinese companies grew rapidly, many companies' results grew exponentially," he said in Mandarin, translated by CNBC.
Persons: Evercore, Rachel Wang, Clocktower, Ye Yuhua, — CNBC's Michael Bloom Organizations: People's Bank of China, Seng Index, Shanghai, Morningstar, CNBC, Baidu, Li Auto Locations: U.S, Beijing, Hong Kong, China, Shanghai, Guangzhou
AdvertisementImportantly, since the court order was made in Hong Kong, it's also unclear if mainland authorities will recognize and comply with the order. However, the company owes about $300 billion — a big shortfall, and there's a clear order of priority when it comes to repayments. How will the Evergrande collapse impact sentiment in China's economy and markets? Notably, the stock market sell-off came before Evergrande's liquidation order. Hong Kong's Hang Seng index ended up slightly higher the day the court order was made.
Persons: , Kyle Rodda, Rodda, Alvarez, Marsal, Evergrande, it's, Baker McKenzie, Daniel Margulies, Margulies, Andrew Collier Organizations: Service, Business, Hong Kong Stock Exchange, Reuters, Deloitte, CSI, Orient Capital Research Locations: Hong Kong, China, Beijing, Asia
In January, authorities pulled about a dozen moves to stabilize a stock market rout and to support the property sector. But China's economic data isn't encouraging, and investor confidence is still low. Investors are cautiousThe moves gave some support to Chinese markets, but investors are still cautious. China's economic data hasn't been rosy either. Consumer appetite for property is still lowStill, overall consumer appetite for the property market appears to be in the dumps.
Persons: , Hao Hong, Premier Li Qiang, Hong, Min Lan Tan, Tan Organizations: Service, Bloomberg, Grow Investment, Premier, Reuters, Investors, CSI, Securities Times, Estate Information Corp, Asia Pacific, UBS, Nikkei Locations: China, Beijing, Shanghai, Shenzhen, Guangzhou, Suzhou, Guangxi, Nikkei Asia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCLSA Feng Shui Index: We think the HSI will break even by mid-year, analyst saysJustin Chan, equity research analyst at CLSA, says "after a slow start in the first quarter, we think that the Han Seng Index will break even by mid-year, and then continue to rise up, eventually reaching new heights."
Persons: Justin Chan Organizations: Shui
A public screen displays stock figures in Shanghai, China, on Monday, Oct. 10, 2022. Bloomberg | Bloomberg | Getty ImagesAsia-Pacific markets are set to fall ahead of the rate decision from the U.S. Federal Reserve and a slew of economic data from across the region, including China and Australia. Australia will release its inflation numbers for December and the fourth quarter, while China will announce its official purchasing managers index figures for January. Japan's Nikkei 225 is also set to fall, with the futures contract in Chicago at 35,785 and its counterpart in Osaka at 35,930 against the index's last close of 36,065.86. Futures for Hong Kong's Hang Seng index stood at 15,702, pointing to a similar open compared with the HSI's close of 15,703.45.
Organizations: Bloomberg, Getty, U.S . Federal Reserve, Nikkei Locations: Shanghai, China, Asia, Pacific, Australia, Japan, South Korea, Chicago, Osaka
With the Year of the Dragon less than two weeks away, China's economy wobbled again on Monday. Fragile growthIn late 2022, China's Communist Party finally called time on its harsh zero-COVID measures — but the economy hasn't enjoyed the post-lockdown rebound many forecasters had predicted. DeflationFalling prices are another source of China's economic woes. AdvertisementNone of that speaks to a dedication to the free market — so China will likely keep struggling to attract more foreign investment in 2024. The sell-off reflects investor concern about the economy's overall health, as well as Chinese tech companies falling behind their US rivals in the development of AI.
Persons: wobbled, Linda Chan, Evergrande, Liquidators, hasn't, they'll, Li Qiang, John Kerry, Janet Yellen, Elon Musk, Xi Organizations: Hong, Business, China's Communist Party, World Bank, Tesla, Communist Party, Bain, Co, Big Tech, CSI Locations: Hong Kong, Evergrande, Beijing, China, Japan, Shanghai
Yuichi Yamazaki | Afp | Getty ImagesAsia-Pacific markets are set to rise on Tuesday, with the exception of Hong Kong, as investors continue to grapple with the fallout from Evergrande's liquidation order. A Hong Kong court ruled to liquidate the firm, which was once considered one of China's largest real estate firms. This comes as Japan's unemployment rate in December fell to 2.4%, lower than 2.5% in the month before and slightly below expectations. Economists polled by Reuters expected the unemployment rate to stay unchanged at 2.5%. In Australia, the S&P/ASX 200 started the day up 0.46%, on pace for a seventh straight day of gains.
Persons: Yuichi Yamazaki Organizations: Afp, Getty, Hong, Futures, Nikkei, Reuters Locations: Tokyo, Asia, Pacific, Hong Kong, Chicago, Osaka, Australia
CNBC Daily Open: Fed rate cut timing in focus
  + stars: | 2024-01-30 | by ( Sumathi Bala | ) www.cnbc.com   time to read: +2 min
A trader reacts as a screen displays the Fed rate announcement on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., December 13, 2023. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. [PRO] SK Hynix analysts' top callSouth Korea's SK Hynix, the world's second-largest memory chipmaker, is getting a lot of attention. Analysts are bullish on the stock and expect SK Hynix to drive the next generation of AI growth.
Persons: Dow, Elon Musk's Tesla, Erek Barron Organizations: New York Stock Exchange, CNBC, CSI, Big Tech, Nasdaq, China EV, DOJ, SEC, of Justice, Securities and Exchange Commission, SK Hynix, South Korea's SK Hynix Locations: New York City, U.S, Hong Kong, Asia, China, Maryland
BANGKOK (AP) — Asian shares were mixed on Tuesday, with Hong Kong and Shanghai leading declines, ahead of a decision by the Federal Reserve this week on interest rates. But shares in China Evergrande New Energy Vehicle Group gained 7% as they resumed trading after they also were suspended on Monday. Other property companies led the decline in Hong Kong, where the benchmark Hang Seng index sank 2.4% to 15,694.69. Political Cartoons View All 253 ImagesTechnology companies also retreated, with food delivery company Meituan down 2.8% and e-commerce giant Alibaba falling 1.9%. On Monday, U.S. stocks gained as they kicked off a week where Wall Street’s most influential stocks may show whether the huge expectations built up for them are justified.
Persons: ” Stephen Innes, Australia's, Archer Daniels, Brent Organizations: Federal Reserve, China Evergrande Group, Energy Vehicle Group, Evergrande, Services, Sunac China Holdings, F, Technology, Management, Nikkei, Dow Jones, Nasdaq, Big Tech, Microsoft, Traders, Fed, Archer Daniels Midland, Amazon, New York Mercantile Exchange, U.S Locations: BANGKOK, Hong Kong, Shanghai, China, Guangzhou, Asia, South Korea, U.S, Wall, iRobot
Hong Kong CNN —China’s top securities regulator has limited short-selling, in its latest effort to stem a protracted $6 trillion-dollar stock market rout that began in 2021. The China Securities Regulatory Commission announced Sunday it would “fully” suspend the lending of restricted shares on bourses in mainland China. The Shenzhen stock exchange is the second-largest in mainland China after Shanghai. Bloomberg/Getty ImagesCalm returns but challenges remainChinese authorities have stepped up their measures to stem the stock market rout over the past week. A day later, in an unprecedented move, regulators said they were considering evaluating the performance of the heads of state-owned companies based on their stock market value.
Persons: Hong Kong CNN —, , Ken Cheung, Evergrande, ” Cheung, Hong, Li Yunze, Pan Gongsheng Organizations: Hong Kong CNN, China Securities Regulatory Commission, Mizuho Bank, Bloomberg, Shanghai Shenzhen, Administration of Financial, People’s Bank of China Locations: Hong Kong, bourses, China, Shanghai, Shenzhen
CNBC Daily Open: Big Tech earnings on tap
  + stars: | 2024-01-29 | by ( Sumathi Bala | ) www.cnbc.com   time to read: +2 min
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. China's luxury reboundChina's luxury sales market is bouncing back. Tech layoffs surgeSilicon Valley's tech companies are slashing headcount at a rapid pace. Since the start of January, some 23,670 workers have been laid off from 85 tech companies, according to the website Layoffs.fyi.
Persons: Google's Bard, Hong, Dow, It's, Brent, Kingsley Jones, Jevons, Tesla, Jones Organizations: Microsoft, CNBC, CSI, Nasdaq, LVMH, Hamas, U.S . West Texas Locations: Asia, Iran, Jordan, U.S
ETF Action's Mike Akins sees challenges tied to the country's ability to generate stock market returns. Fool me twice, shame on me," the firm's founding partner told CNBC's ETF Edge this week. The stock market went nowhere. According to Atkins, emerging market ex-China products are among the largest inflows ETF Action is seeing. Or is it really a growth story in the economy alone and not in the actual return of the stock market?"
Persons: Mike Akins, You've, It's, Atkins, Franklin Templeton, David Mann, hesitancy, Mann Organizations: Edge, Franklin Templeton Investments, Investors Locations: China
There’s a shift underway in Asia that’s reverberating through global financial markets. Stocks stemmed their slide only when Beijing recently signaled its intention to intervene but remain far below previous highs. But there’s one unforeseen reversal already underway: a change in perception among investors about China and Japan. Seizing on this shift, Japan’s prime minister, Fumio Kishida, addressed more than 3,000 global financiers gathered in Hong Kong this week for a conference sponsored by Goldman Sachs. It was the first time a Japanese prime minister had given a keynote address at the event.
Persons: Stocks, Fumio Kishida, Goldman Sachs Organizations: Asia that’s, Nikkei Locations: Asia, China, Stocks, Beijing, Japan, Hong Kong
The U.S.' personal consumption expenditures price index, excluding food and energy, climbed 2% in the final quarter of 2023, while headline inflation rose 1.7%. Japan's Nikkei 225 was set to fall ahead of its January inflation reading from Tokyo — widely considered to be a leading indicator for nationwide inflation. The Nikkei futures contract in Chicago was at 36,000, and its counterpart in Osaka at 36,050, against the index's last close of 36,236.47. Investors will also be watching out for minutes of the Bank of Japan's final meeting of 2023. Separately, futures for Hong Kong's Hang Seng index stood at 16,079, pointing to a weaker open compared with the HSI's close of 16,211.96.
Persons: Dow Jones Organizations: Bloomberg, Getty, Gross, U.S, Nikkei, Bank of Japan's Locations: Minato, Tokyo, Japan, Asia, Pacific, U.S, Australia, Chicago, Osaka
Total: 25