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☆ Asian shares weaken slightly on China deflation risk, bank jitters
▼ + stars: | 2023-08-09 | by ( Stella Qiu | ) www.reuters.com time to read: +5 min

In Asia, the MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) edged 0.2% higher, following a 1.2% tumble a day earlier. Producer prices fell for a 10th consecutive month. "It is not likely to see China entering a full deflation path as core CPI is still resilient and driven by services." "Having said that, if we do not see further improvement in consumer sentiment, it is possible to see growing deflation risks in China." Brent crude futures eased 0.2% to $86.00 per barrel and U.S. West Texas Intermediate crude futures also fell 0.2% to $82.73.

Persons: Issei Kato, Gary Ng, HSI, Chetan Ahya, Morgan Stanley, Dow, Stella Qiu, Ellen Zhang, Jamie Freed, Edmund Klamann, Simon Cameron, Moore Organizations: REUTERS, Nasdaq, Japan's Nikkei, PPI, Asia Pacific, Reuters, Wall, U.S, Brent, . West Texas, Thomson Locations: Tokyo, Japan, China, SYDNEY, Italy, Asia, Pacific, Hong Kong, Brazil, Beijing

☆ Reaction to China inflation data
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +5 min

Below are comments from analysts on the inflation data:XING ZHAOPENG, SENIOR CHINA STRATEGIST, ANZ, SHANGHAI"Both CPI and PPI in year-on-year terms fell into negative territory and confirmed economic deflation. "With destocking and credit expansion, we expect PPI and CPI will rebound from the bottom in the fourth quarter. The CPI deflation may put more pressure on the government to consider additional fiscal stimulus to mitigate the challenge." XIA CHUN, CHIEF ECONOMIST, YINTECH INVESTMENT HOLDINGS, HONG KONG"The lower inflation data reflects weak demand on the mainland, which is biggest challenge facing China's economy. It also shows China's slower-than-expected economic rebound is not strong enough to offer the weaker global demand and lift commodity prices."

Persons: XING ZHAOPENG, CHUAN, FRANCES CHEUNG, Rather, ZHIWEI ZHANG, MARCO SUN, XIA CHUN, GARY NG, Liangping Gao, Ellen Zhang, Winni Zhou, Samuel Shen, Li Gu, Sam Holmes Organizations: ANZ, CPI, PPI, OCBC, SHANGHAI, MUFG BANK, ASIA PACIFIC, Thomson Locations: BEIJING, CHINA, SHANGHAI, China, SINGAPORE, HONG KONG, Japan, Beijing, Shanghai, Hong Kong

☆ China tips into deflation as efforts to stoke recovery falter
▼ + stars: | 2023-08-09 | by ( Liangping Gao | Ryan Woo | ) www.reuters.com time to read: +4 min

Customers select tomatoes at a stall inside a morning market in Beijing, China August 9, 2023. The consumer price index (CPI) dropped 0.3% year-on-year in July, the National Bureau of Statistics (NBS) said on Wednesday, compared with the median estimate for a 0.4% decrease in a Reuters poll. The producer price index (PPI) declined for a 10th consecutive month, down 4.4% and faster than the forecast 4.1% fall. Asian shares were on the defensive on Wednesday as the Chinese price data confirmed its economic recovery was losing steam. Beijing has set a consumer inflation target of around 3% this year, which would be up from 2% recorded in 2022, and for now, authorities are downplaying concerns about deflation.

Persons: Wang, Japan’s “, ”, Gary Ng, Liu Guoqiang, Xia Chun, Tommy Wu, Wu Organizations: REUTERS, National Bureau of Statistics, “, Asia Pacific, Natixis, Commerzbank Locations: BEIJING, Beijing, China, Asia, Brazil, Japan, Hong Kong

☆ Analysts see more gains for Apple going forward, but some warn of mounting headwinds
▼ + stars: | 2023-08-04 | by ( Brian Evans | ) www.cnbc.com time to read: +4 min

AAPL YTD mountain Apple stock was trading lower after quarterly results. Apple doesn't provide official forward guidance and has not done so since 2020 over macroeconomic uncertainty. Morgan Stanley's Erik Woodring reiterated an overweight rating on Apple but lowered his price target to $215 from $220. Bank of America's Wamsi Mohan remained neutral on Apple, accompanied by a $210 price target that equates to roughly 10% upside. Rakers maintained an overweight rating on Apple stock with a $225 price target, or about 18% upside from Thursday.

Persons: Apple, Luca Maestri didn't, Apple doesn't, Morgan Stanley's Erik Woodring, Woodring, Morgan Stanley, America's Wamsi Mohan, Mohan, Citi's Atif Malik, Malik, Wells, Aaron Rakers, JPMorgan's Samik Chatterjee, Chatterjee, Goldman Sachs, Michael Ng, Apple's, Ng, — CNBC's Michael Bloom Organizations: Apple, America's

Chinese developers are allowed to sell residential projects before completion but are required to put those funds in escrow accounts. Local city governments permit them to withdraw a portion of the funds, depending on the progress of construction. China's housing ministry did not respond to Reuters request for comment on the tightening of developers' access to escrow funds. FALTERING HOUSING DEMANDThe new measures come as property demand is sluggish - China's property sales between May and June showed the largest monthly drop this year, based on sales by floor area, and investment in property also slumped. Under those rules, the authority has asked the bank to make escrow funds available only to developers who have other sources of funding to cover construction costs, said the person.

Persons: Gary Ng, Ng, Clare Jim, Tang, Sumeet Chatterjee, Muralikumar Organizations: Asia Pacific, National Bureau of Statistics, Thomson Locations: HONG KONG, BEIJING, Asia, Hunan, Hefei, Xiamen, Hong Kong, Beijing

☆ Here's the trade on Apple ahead of Thursday's earnings, according to analysts
▼ + stars: | 2023-08-02 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

Several analysts remain bullish, hiking their price targets in the weeks leading up to Apple's earnings report — despite the stock's 50% runup so far this year. His $220 price target suggests the stock can rally more than 12% from Tuesday's close. Bank of America remains neutral on the stock, but boosted its price target to $210 on July 19. His price target of $149 suggests nearly 24% downside. Her price target of $190 suggests roughly 3% downside from Tuesday's close.

Persons: Samik Chatterjee, Chatterjee, Morgan Stanley, Erik Woodring, Goldman Sachs, Michael Ng, Apple, Wamsi Mohan, Mohan, Tim Long, Grace Chen, Chen, Piper Sandler, TD Cowen, Baird, — CNBC's Michael Bloom, Kif Leswing Organizations: Apple, JPMorgan, Services, Bank of America, Barclays, UBS Locations: Apple's, Tuesday's, Asia

☆ Here's the trade on Apple ahead of Thursday’s earnings, according to analysts
▼ + stars: | 2023-08-02 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

☆ Philippines need not match Fed's 25-basis point hike, finance minister says
▼ + stars: | 2023-07-30 | by ( ) www.reuters.com time to read: +1 min

MANILA, July 31 (Reuters) - The Philippines' finance minister said monetary authorities have room to pause on rate hikes in August despite a recent policy tightening by the U.S. Federal Reserve. That is my view and we have to monitor other indicators like inflation," Finance Secretary Benjamin Diokno told reporters on Friday during his weekly media briefing. The Monetary Board has four current members, including the central bank governor, but three seats are still vacant. Inflation is expected to return to within the central bank's 2% to 4% target range in the fourth quarter, Diokno said. We are data dependent," Diokno said, adding that authorities will take stock of the Fed rate hike's impact on both global and domestic economy.

Persons: Benjamin Diokno, Diokno, Eli Remolona, Neil Jerome Morales, Lincoln Organizations: U.S . Federal, Monetary, Bangko Sentral ng Pilipinas, Fed, Thomson Locations: MANILA, Philippines

☆ How the world went from a semiconductor shortage to a major glut
▼ + stars: | 2023-07-28 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

The glut came after companies began to stockpile chips amid the shortage to build up inventories. From profit boost to income plungeThe pandemic-induced shortage of semiconductors helped boost chip makers' profits as prices jumped. Meanwhile, SK Hynix swung to a loss in the second quarter versus a profit in the same period last year. Taiwan Semiconductor Manufacturing Company, the world's largest chipmaker, said last week that net income for the second quarter fell 23.3% from a year ago. Looking ahead, the PC market appears weak, which is likely to impact Samsung, SK Hynix and Micron.

Persons: Wong Yu Liang, Peter Hanbury, Hanbury, Sze Ho Ng Organizations: Bain & Company, CNBC, Samsung, SK Hynix, Micron, Taiwan Semiconductor Manufacturing Company, China Renaissance Securities Locations: oversupply

“We’re horrified that something like this could happen, not only to us, but to anyone,” Saffrine Duggan told her supporters. Former US fighter pilot Daniel Duggan is in custody in Australia pending extradition to the US on charges including that he trained Chinese military pilots. Courtesy Saffrine DugganTraining Chinese pilotsDuggan doesn’t deny training Chinese pilots, but he maintains they were civilians – plane enthusiasts seeking to improve their skills or prospective members of China’s then rapidly expanding aviation industry. And a spokesperson for New Zealand’s Defence Force confirmed to Reuters that four of its former military pilots had been recruited by the company. It’s the wrong type of approach and landing.”In its statement to CNN, TFASA denied teaching aircraft carrier approach and landing techniques to Chinese military pilots.

Persons: Daniel Duggan, Duggan, Duggan’s, “, ”, Saffrine, “ We’re, ” Saffrine Duggan, Paul Devitt, Duggan –, –, ” Duggan, Saffrine Duggan, TFASA, they’re, Duggan doesn’t, China’s, Glenn Kolomeitz, ” “ Dan, Richard Marles, It’s, Constant, Daniel Duggan's, Mike Burgess, Ben Hancock, ” Hancock, Hancock, hasn’t, Dan didn’t, “ TFASA, he’s, Xi Jinping, reunify, Joe Biden, Ng Han Guan, Xi, Donald Trump, “ Don’t Organizations: Australia CNN —, Marine Attack Squadron, Intelligence, Security, Australian Security Intelligence Organisation, Lithgow Correctional Centre, Australian Broadcasting Corporation, ABC, US Marines, US State Department, of Defense Trade, Test Flying Academy of South, CNN, TFASA, Embassy, Former, Saffrine Duggan Training, Australian Defence Force, RAF, UK Defence Ministry, UK Armed Forces, Australia’s, New Zealand’s Defence Force, Reuters, Marles, ASIO, Buckeye, Marine Corps, US Navy, Aircraft, Training Squadron, US Department of Defense, Harrier, Getty, Pacific Locations: Brisbane, Australia, United States, Yuma , Arizona, China, Beijing, Lithgow, Sydney, Australian, Test Flying Academy of South Africa, Tasmania, South Africa, Former US, New South Wales, Persian, Asia, Townsville, Pensacola, Fla, Western, Taiwan, AFP

☆ Factbox: U.S. banks increase reserves for commercial real estate exposure
▼ + stars: | 2023-07-21 | by ( Matt Tracy | ) www.reuters.com time to read: +5 min

While regional banks carry the greatest exposure to the commercial real estate (CRE) sector, second quarter earnings show that a number of big banks have prepared for potential defaults, primarily on office loans. However, Borthwick noted the bank's office CRE exposure was low relative to its overall loan portfolio, at 2%. CRE loans represented just 15% of the bank's overall lending book, while only 1% of the CRE loan portfolio was office-related. WELLS FARGO (WFC.N)The bank said it had a $949 million increase in its allowance for credit losses, primarily CRE office loans. WEBSTER FINANCIAL CORP (WBS.N)The regional bank's nonperforming CRE loans ticked up to $47.9 million last quarter from $35.8 million in the first quarter.

Persons: Goldman Sachs, Andrew Kelly, Alastair Borthwick, Borthwick, GOLDMAN SACHS, markdowns, Denis Coleman, Jeremy Barnum, WELLS, Charlie Scharf, Bruce Van Saun, Dominic Ng, East, James Leonard, MORGAN STANLEY, Webster, Glenn MacInnes, John Ciulla, Matt Tracy, Michelle Price, Nick Zieminski Organizations: New York Stock Exchange, REUTERS, U.S, AMERICA CORP, GOLDMAN SACHS GROUP INC, Goldman, JPMORGAN CHASE &, JPMorgan, Citizens, EAST WEST BANCORP, East, BANCORP, WEBSTER FINANCIAL, Thomson Locations: New York City , New York, U.S, California, CRE

[1/2] U.S. climate envoy John Kerry, at right walks next to U.S. Ambassador to China Nicholas Burns as they arrive for meetings at the Great Hall of the People in Beijing, Wednesday, July 19, 2023. Ng Han Guan/Pool via REUTERSBEIJING, July 19 (Reuters) - Climate change is a "universal threat" that should be handled separately from broader diplomatic issues, U.S. climate envoy John Kerry told Chinese Vice-President Han Zheng on Wednesday after two days of what he called constructive but complex talks. Acknowledging the diplomatic difficulties between the two sides in recent years, Kerry said climate should be treated as a "free-standing" challenge that requires the collective efforts of the world's largest economies to resolve. Kerry told reporters earlier that his talks with Chinese officials this week have been constructive but complicated, with the two sides still dealing with political "externalities", including Taiwan.

Persons: John Kerry, China Nicholas Burns, Ng Han Guan, Han Zheng, Kerry, Wang Yi, Premier Li Qiang, Xie Zhenhua, Han, Nancy Pelosi, It's, Valerie Volcovici, David Stanway, Stephen Coates Organizations: of, People, REUTERS, Premier, . House, Thomson Locations: U.S, China, Beijing, REUTERS BEIJING, Europe, Asia, United States, Dubai, Paris, Taiwan

☆ Asia shares slip as China casts a pall, dollar's slide abates
▼ + stars: | 2023-07-18 | by ( Selena Li | ) www.reuters.com time to read: +3 min

[1/2] FILE PHOTO-People walk past a screen displaying the Hang Seng stock index outside Hong Kong Exchanges, in Hong Kong, China July 19, 2022. Investors are waiting for clearer signs that inflation is cooling, with the readings on U.S. retail sales and industrial production to be released later on Tuesday. Economists reckon retail sales in June will show a 0.5% rise from May, strong enough to keep the soft landing scenario without rekindling worries about inflation. The Fed, European Central Bank and Bank of Japan are holding policy reviews next week. The U.S. dollar index dipped slightly to 99.71 in Asia trade, having struck its lowest since April 2022 on Friday.

Persons: Lam, Morgan Stanley, Goldman Sachs, Gary Ng, Ng, Brent, Selena Li, Simon Cameron, Moore, Sam Holmes Organizations: Hong Kong Exchanges, REUTERS, Federal, Bank of America, Natixis Corporate, Investment Bank, The, European Central Bank and Bank of Japan, Japan's Nikkei, ECB, Fed, Bank of England, U.S, Bank of Japan, Thomson Locations: Hong Kong, China, HONG KONG, Asia, Pacific, Japan

☆ Asia shares slip further as China casts a pall, dollar's slide abates
▼ + stars: | 2023-07-18 | by ( Selena Li | ) www.reuters.com time to read: +3 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) slipped 0.63% in the morning session. Investors are waiting for stronger signs of inflation cooling, with the readings on U.S. retail sales and U.S. industrial production to be released later on Tuesday. Economists reckon retail sales in June will show a 0.5% rise from May. The U.S. Federal Reserve, European Central Bank and Bank of Japan are holding policy reviews next week. A possible divergence of U.S. Federal Reserve and European Central Bank on rate hikes has recently caused dollar to weaken.

Persons: Gary Ng, Ng, Brent, Selena Li, Simon Cameron, Moore Organizations: Natixis Corporate, Investment Bank, The U.S . Federal Reserve, European Central Bank and Bank of Japan, Japan's Nikkei, . Federal Reserve, European Central Bank, Fed, Bank of England, Bank of Japan, U.S, Thomson Locations: HONG KONG, Asia, Pacific, Japan, Hong Kong, China

☆ Why US Treasury Secretary Yellen’s visit to a Beijing restaurant set off a wild mushroom craze
▼ + stars: | 2023-07-15 | by ( Maggie Wong | Maggie Hiufu Wong | ) edition.cnn.com time to read: +12 min

Among the dishes the food blogger claimed to have spotted were grilled fish with herbs, stir-fried pickled Yunnan wild greens with potato slices and cold rice noodles. She ordered four portions of jian shou qing (a Yunnan wild mushroom species). But the most heated discussions were focused on the multiple orders of the mushroom dish – jian shou qing. Jian shou qing, Yunnan’s mysterious mushroomsBaskets of jian shou qing mushrooms, foraged from a Yunnan forest. Chieu Luu/CNNThe fact that Yellen and her team visited a Yunnan restaurant shouldn’t come as a surprise.

Persons: Hong Kong CNN — It’s, Janet Yellen, jian shou qing, Yi Zuo Yi Wang, ”, Pan Pan Mao, ” Pan Pan Mao, Yellen, Mark Schiefelbein, Yellen’s, Jian shou qing, Colin Domnauer Jian shou qing, “, Peter Mortimer, Mortimer, Jun Xu, they’re, Luu, Dian Cai –, Ng Mung Lam, Ng, Yellen's, Leisa Tyler, LightRocket Organizations: Hong Kong CNN, Weibo, CNN, Kunming Institute of Botany, African, Getty, Botanical Society of, Xinhua, CNN Travel Locations: Hong Kong, Beijing, China, Yunnan, Vietnam, Laos, Myanmar, Weibo, India, Yunnan Province, Botanical Society of Yunnan, China’s, Shenzhen, Chuxiong prefecture, pu’er

☆ Divisive China, Taiwan bids to join Pacific trade pact in focus at meet
▼ + stars: | 2023-07-14 | by ( Lucy Craymer | ) www.reuters.com time to read: +4 min

Britain will become the 12th member to join the pact that cuts trade barriers, as it looks to deepen ties in the Pacific. In support of its application, Britain has said that CPTPP countries will have a combined GDP of 11 trillion pounds ($13.6 trillion) once Britain joins, or 15% of global GDP. "There’s a large gap between the high standards and binding commitments that are demanded of CPTPP members, and where China is currently at," he added. The other countries' applications also provide opportunities. "After modernising the Canada-Ukraine FTA this year, Canada knows that Ukraine is capable of meeting the high standards of the CPTPP," she said.

Persons: Charles Finny, CPTPP, Chris Hipkins, Shu Jueting, Penny Wong, Aidan Arasasingham, Joanne Ou, Roy Lee, Mary Ng, Lucy Craymer, Ben Blanchard, Joe Cash, Praveen Menon, Muralikumar Organizations: WELLINGTON, Trans, Pacific, New Zealand, Reuters, Centre, Strategic, International Studies, Washington DC, Thomson Locations: Pacific, Auckland, China, Taiwan, New Zealand, Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, Peru, Singapore, Vietnam, Britain, Costa Rica, Uruguay, Ecuador, Ukraine, New, Beijing, Zealand, Jakarta, Taipei, CPTPP, Wellington

☆ US trade group blasts Canada for refusal to extend digital services tax freeze
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +3 min

WASHINGTON, July 13 (Reuters) - The U.S.-based National Foreign Trade Council on Thursday blasted Canada for its refusal to back a global agreement to hold off on implementing digital services taxes for at least another year, and said the move could invite retaliation. NFTC President Jake Colvin said he welcomed news from the OECD that most countries with digital services taxes had agreed to extend the moratorium on implementation. He also said the move would allow countries to keep working a global tax deal in good faith. "Canada joined Belarus, Russia and a small handful of others in not joining because they seem to want to move forward quickly with their digital services tax," Colvin said. Colvin said Washington could retaliate under the U.S.-Mexico-Canada trade agreement if Canada went ahead and implemented the new tax.

Persons: Jake Colvin, Colvin, We're, Chrystia Freeland, Washington, Katherine Tai, Mary Ng, Andrea Shalal, Anna Driver Organizations: Foreign Trade, OECD, Canadian Finance, U.S, . Trade, Canadian Trade, Thomson Locations: U.S, Canada, Belarus, Russia, Mexico, Pakistan, Sri Lanka

☆ What people are saying about Ant Group's $984 mln fine and share buyback
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +3 min

July 10 (Reuters) - China's Ant Group has announced a surprise share buyback that values the fintech giant at $78.5 billion, well below the $315 billion touted in an abandoned IPO in 2020, in a move that may let some investors exit. "And second, of course, we're talking about the share buyback plan. DICKIE WONG, EXECUTIVE DIRECTOR AT KINGSTON SECURITIES IN HONG KONG:"Their share prices have strongly rebound today mainly driven by the expectation that regulatory pressure from mainland government will ease. Ant Group is on the right track to achieve their final target of an IPO." According to the company, the reason for the buyback is providing liquidity to existing investors and attracting and retaining talented individuals through employee incentives.

Persons: GARY NG, KENNY NG, DICKIE WONG, SUMEET SINGH, Xie Yu, Yantoultra, Scott Murdoch, Anne Marie Roantree, Jamie Freed Organizations: Alibaba, HK, ASIA PACIFIC, CHINA, HONG, People's Bank of, Ant Group, KINGSTON, SINGAPORE WHO, Thomson Locations: HONG KONG, People's Bank of China, SINGAPORE, COLOMBO, Hong Kong, Singapore, Sydney

☆ China’s Ant Gives Trapped Investors an Opportunity to Cash Out
▼ + stars: | 2023-07-08 | by ( Rebecca Feng | Serena Ng | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/chinas-ant-gives-trapped-investors-an-opportunity-to-cash-out-44d42d14

Persons: Dow Jones

Summary Canadian minister Ng notes progress with Mexico over energyUSTR Tai urges Mexico to monitor steel and aluminum exports to U.S.MEXICO CITY, July 6 (Reuters) - The U.S. sees some progress made on an energy dispute with Mexico, although "deep-seated" concerns persist, U.S. Trade Representative Katherine Tai said on Thursday shortly before talks in Mexico with top Mexican and Canadian trade officials. The U.S. and Canada demanded dispute settlement talks over energy with Mexico in July 2022, arguing that Mexico's nationalist energy policies, which have tightened state control over the energy market, were discriminatory to U.S. companies. Canada's Ng separately noted progress with Mexico over energy issues, saying concerns from Canadian companies had been addressed. In addition to the energy spat, the U.S. and Mexico are engaged in a dispute over Mexico's decree to limit the use of genetically modified (GM) corn. Before the meeting, Tai said trade dispute settlement consultations over GM corn, which the U.S. requested in June, began with Mexico last week.

Persons: Ng, Tai, Katherine Tai, Raquel Buenrostro, of International Trade Mary Ng, Canada's Ng, Daina Beth Solomon, Cassandra Garrison, Costas Pitas, Brendan O'Boyle, Marguerita Choy, Diane Craft Organizations: MEXICO CITY, U.S . Trade, USMCA Free Trade Commission, Mexican, of International Trade, Thomson Locations: Mexico, U.S, MEXICO, Canada, American, Mexican, Cancun

Summary June annual inflation slowest since AprilRisks to inflation tilted to the upside - central bankSlower June inflation supports rate pause expectationsMANILA, July 5 (Reuters) - Philippine annual inflation eased for a fifth straight month in June, supporting expectations the central bank will keep rates unchanged for longer as food and transport cost pressures ease. The central bank, however, noted inflation risks remained tilted to the upside due to the potential impact of El Nino dry weather conditions and wage increases. Last month's inflation rate, which was below the 5.5% forecast in a Reuters poll, brought the year-to-date average to 7.2%. It next meets on Aug. 17 under newly appointed BSP Governor Eli Remolona, who took the helm of the central bank on July 3. ING Economist Nicholas Mapa said in a tweet that moderating price pressures give the central bank space to extend the pause and keep rates steady for now.

Persons: Eli Remolona, Nicholas Mapa, Karen Lema, Enrico Dela Cruz, Martin Petty, Jacqueline Wong Organizations: El, ng Pilipinas, ING, Thomson Locations: MANILA, El Nino

☆ Hong Kong film-makers say censorship law spooks investors, actors
▼ + stars: | 2023-06-28 | by ( Jessie Pang | Thomson Reuters | Jessie Pang Joined Reuters In After An Internship. She Covers Hong Kong With A Focus On Politics | ) www.reuters.com time to read: +6 min

The day before their Loose Narratives short film festival began in April, censors denied approval for their short film "Wake in Silence", citing "possible seditious intentions". "I consider myself more commercial, but I still hope to have lots of Hong Kong elements in my movies," he said. "We are scared of the disappearance of the culture and arts of Hong Kong," said Ching Wong, who founded Hong Kong Film Festival UK along with director Ng Ka Leung in 2021. "At this moment, the chance of me finding funds in the Hong Kong market and the Hong Kong government seems to be close to zero," film-maker Chow said. ($1=7.82 Hong Kong dollars)Reporting by Jessie Pang; Editing by Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

Persons: Tyrone Siu, Kiwi Chow, Chow, Kevin Yeung, Rex Ren, David Chan, Ren, Ho, Ching Wong, Ng Ka Leung, Jessie Pang, Clarence Fernandez Organizations: REUTERS, Hong, Kong's, Film, Association, British, HK, Film Development, Film Development Council, Times, Fresh, Hong Kong, Hong Kong Film, Thomson Locations: Hong Kong, China, Tyrone Siu HONG KONG, Cannes, Hong, Britain, Canada, United States

☆ The sun's activity could peak 2 years early, frying satellites and causing radio blackouts by the end of this year, experts say
▼ + stars: | 2023-06-27 | by ( Jessica Orwig | Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +4 min

The sun is becoming more active and may reach peak activity sooner than expected. We're currently approaching solar maximum, when the sun reaches peak activity, which experts have previously predicted should happen in 2025. NASAFor example, already this year a powerful solar flare caused widespread radio blackouts that disrupted high-frequency radio signals in North America, Central America, and South America. In the past, powerful solar storms have surged the Quebec power grid, causing blackouts that lasted up to eight hours. Why experts think solar maximum will hit soonWhen the sun's magnetic field is weak, its surface gets a lot more interesting to look at.

Persons: —, We're, Alex James, that's, NASA Goddard, Joy Ng Organizations: Service, University of College London, NASA, YouTube, Dynamics, National Oceanic, Atmospheric Administration, CME Locations: North America, Central America, South America, Quebec, Arizona

☆ Philippine finance secretary sees 'long pause' in rate hikes
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +1 min

MANILA, June 25 (Reuters) - Philippine Finance Secretary Benjamin Diokno said he expected the central bank, of which he is a policymaker, to take a "long pause" in raising interest rates steady as inflation is expected to ebb. The bank held its key policy rate steady at 6.25% for a second straight meeting on Thursday. I don't see any cut until we really have that strong evidence of a decline" in inflation, Diokno said. He is one of the seven members of the policy-making Monetary Board, which next meets on Aug. 17 to review policy under the leadership of a new central bank governor. Since May last year, the central bank raised rates 425 basis points to combat inflation.

Persons: Benjamin Diokno, Diokno, Ferdinand Marcos Jr, Eli Remolona, Felipe Medalla, Neil Jerome Morales, WIlliam Mallard Organizations: Philippine Finance, Bangko Sentral ng Pilipinas, Thomson Locations: MANILA, Bangko

☆ TipRanks reveals the top 10 Wall Street utilities sector analysts
▼ + stars: | 2023-06-25 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +5 min

TipRanks recognized the 10 best analysts in the utilities sector who delivered significant returns and edged past their peers through their recommendations. TipRanks' algorithms calculated the statistical significance of each rating, the average return and the analysts' overall success rate. Top 10 analysts from the utilities sectorThe image below shows the most successful Wall Street analysts from the utilities sector. Based on his buy recommendation, the analyst generated a profit of 161.7% from July 21, 2020 to July 21, 2021. Julien Dumoulin-Smith — Bank of America SecuritiesJulien Dumoulin-Smith has the 10th spot on the list, with a success rate of 57%.

Persons: Patrick T, Fallon, TipRanks, Shelby Tucker, Tucker, Frederic Bastien — Raymond James Frederic Bastien, Black, Benjamin Pham —, Benjamin Pham, Pham, Mark Jarvi —, Mark Jarvi — CIBC Mark Jarvi, Robert Catellier —, Robert Catellier, Alberto Gandolfi — Goldman Sachs, Alberto Gandolfi, Nelson Ng, Jan, Patrick Kenny, Kenny, Neil Kalton, Wells, Julien Dumoulin, Smith — Bank of America Securities Julien Dumoulin, Smith Organizations: Fluence, Siemens, AES Company, AES Alamitos Battery Energy Storage, AFP, Getty, RBC, Energy, Benjamin Pham — BMO Capital BMO Capital, Mark Jarvi — CIBC, Pinnacle, Drax Group, Robert Catellier — CIBC, RBC Capital RBC Capital, Bank In, National Bank, Secure Energy Services, Smith — Bank of America Securities, Sunrun Locations: Long Beach , California, Canadian, Canada, Danish, Methanex

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