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☆ Stocks subdued after bruising week, dollar basks and yuan wilts
▼ + stars: | 2023-09-08 | by ( Huw Jones | ) www.reuters.com time to read: +4 min

U.S. stock index futures , , were little changed. The dollar was set to clock up its best winning streak since 2014, bolstered by a resilient run of U.S. economic data. In contrast, the yuan fell to its weakest level since 2007 on worries about China's slowing economy. "Everything is geared towards the next couple of weeks, with European Central Bank, Federal Reserve and Bank of England meeting. Stocks sought to stabilise after a week of easing, with the MSCI All Country stock index (.MIWD00000PUS) slightly weaker at 676.83 points, and down about 1.5% for the week so far, though still up nearly 12% for the year.

Persons: Toby Melville, Mike Hewson, Stocks, Patrick Spencer, Spencer, YUAN, Masato Kanda, Hirokazu Matsuno, Brent, Heekyong Yang, Shri Navaratnam, Tomasz Janowski, David Evans Organizations: London Stock Exchange Group, City of, REUTERS, Stocks, Apple, Investors, European Central Bank, Federal Reserve, Bank of England, CMC, U.S, Consumer, Baird, ANZ Bank, Treasury, Thomson Locations: City, City of London, Britain, China, United States, Europe, U.S, Seoul

China's onshore yuan meanwhile ended its domestic session at the weakest since 2007, as it battles capital outflow pressures and a widening yield gap with major economies. The U.S. dollar index , which measures the greenback against major peers, was last 0.05% lower at 105 but remained not far from the previous session's six-month high of 105.15. IN THE DOLDRUMSThe onshore yuan opened at 7.3400 per dollar on Friday and touched its weakest level since December 2007 at 7.3510, while its offshore counterpart sank to a 10-month low of 7.3621 per dollar. The onshore yuan has fallen roughly 6% against the dollar so far this year and has become one of the worst-performing Asian currencies alongside its offshore counterpart. The Australian dollar was last 0.28% higher at $0.6395, but eyed a weekly loss of over 0.8%.

Persons: Dado Ruvic, Dane Cekov, Nordea's Cekov, Sterling, Vishnu Varathan, Shunichi Suzuki, Samuel Indyk, Rae Wee, Shri Navaratnam, Gerry Doyle, Angus MacSwan, Mark Heinrich Our Organizations: REUTERS, U.S, Nordea, Mizuho Bank, Finance, Bank of Japan, Bank of, Australian, New Zealand, Thomson Locations: U.S, Germany, Europe's, Europe, United States, Bank of Japan

Analysts say its new product launches could mark a first step in the company's come-back efforts to rival Apple. "It (Huawei) can manage the psychological expectations of the target consumer group before Apple's press conference," said Ivan Lam, an analyst at Counterpoint. Sino-U.S. friction has worsened in recent years as Washington tries to restrict China's access to key technologies including cutting-edge chip technology, and Beijing looks to reduce its reliance on American tech. The U.S. Commerce Department said late Thursday it's working to obtain more information "on the character and composition" of the new Huawei chip that may violate trade restrictions. White House National Security Adviser Jake Sullivan told reporters on Air Force One the U.S. government is trying to get more information about the Huawei chip.

Persons: Ann Wang, Ivan Lam, Jake Sullivan, Rick Meckler, Taiwan's TSMC, Ben Blanchard, Jeanny Kao, Brenda Goh, Jason Xue, Yelin, Sam Nussey, Miyoung Kim, Clarence Fernandez Organizations: Taiwan Semiconductor Manufacturing, REUTERS, Rights, Huawei, Apple, U.S, China's, Analysts, Reuters, Bank of America, Street, Washington, U.S . Commerce Department, National, Air Force, Qualcomm, Broadcom, Texas, Cherry Lane Investments, Tokyo, ASE Technology, Luxshare Precision Industry, Semiconductor, Technology, Semiconductor Manufacturing International Corp, Thomson Locations: Hsinchu, Taiwan, Rights TAIPEI, U.S, Beijing, China, Asia, Japanese, iPhones, Shenzhen, Shanghai, Yelin Mo, Tokyo

Sino-U.S. friction has worsened in recent years as Washington tries to restrict China's access to key technologies including cutting-edge chip technology, and Beijing looks to reduce its reliance on American tech. A customer talks to sales assistants in an Apple store as Apple Inc's new iPhone 14 models go on sale in Beijing, China, September 16, 2022. "This is textbook Chinese Communist Party behavior - promote PRC (People's Republic of China) national champions in telecommunications, and slowly squeeze Western companies' market access," Gallagher, a Republican, told Reuters. The drop in the technology sector weighed on the three main U.S. stock indexes, particularly the tech-heavy Nasdaq Composite, which closed down 0.9%. IPHONE SLOWDOWNChina has been a bright spot for Apple in an otherwise tough period for iPhone sales.

Persons: chipmaker SMIC, Jake Sullivan, Sullivan, Thomas Peter, Biden, Mike Gallagher, Gallagher, Mark Warner, Rick Meckler, Susannah Streeter, Hargreaves Lansdown, Streeter, Aditya Soni, Jaspreet Singh, Shristi Achar, Diane Bartz, David Gaffen, Shounak Dasgupta, Devika Organizations: Apple, Street, Washington, Huawei, HK, U.S . Commerce Department, National, Air Force, BofA Global Research, Qualcomm, REUTERS, Beijing, Communist Party, People's, Republican, Reuters, U.S, Senate Intelligence Committee, planemaker Boeing, Micron, Broadcom, Texas, Nasdaq, Cherry Lane Investments, Hargreaves, Thomson Locations: Beijing, US, China, U.S, Kirin, People's Republic of China, Bengaluru

☆ Stocks stumble as 'dollar juggernaut' on a roll
▼ + stars: | 2023-09-08 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

Passersby are reflected on an electric stock quotation board outside a brokerage in Tokyo, Japan April 18, 2023. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.2% in early trade and is down 1.4% for the week. "China’s partial ban on Apple products put trade wars and U.S.-China decoupling back on the agenda," said Capital.com analyst Kyle Rodda. U.S. suppliers' shares had fallen overnight and helped drag the S&P 500 (.SPX) 0.3% lower and the Nasdaq (.IXIC) down by 0.9%. The Australian dollar is down more than 1% on the week and traded at $0.6384 on Friday.

Persons: Issei Kato, TSMC, Kyle Rodda, Masato Kanda, Hirokazy Matsuno, Brent, Heekyong Yang, Shri Navaratnam Organizations: REUTERS, Rights, Japan's Nikkei, South Korea's SK Hynix, Huawei Technologies, Tokyo, Apple, Nasdaq, ANZ Bank, European Central Bank, Treasury, Brent, Thomson Locations: Tokyo, Japan, Rights SINGAPORE, U.S, Asia, Pacific, Hong Kong, China, South Korea's, Europe, Seoul

☆ Column: US wind power generation breaks out of summer doldrums
▼ + stars: | 2023-09-08 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +5 min

REUTERS/Nick Oxford/File Photo Acquire Licensing RightsLITTLETON, Colorado, Sept 8 (Reuters) - After months of low wind speeds in several key wind farm areas, U.S. wind power generation hit its highest levels in nearly five months in early September as wind speeds picked up. The remaining states recorded an average wind generation drop of 7.1%, which contributed to a 3.1% decline in total national wind generation in the January to May period. The shortfalls in wind power have been evident in the output data of major U.S. power pool markets. Reuters Image Acquire Licensing RightsAs these markets cover over 30 U.S. states as well as the areas with the largest concentrations in wind power generation in the United States, the declines in wind power in these power pools had a direct impact on national level wind output, with knock-on effects for power generation mixes across the country. Similarly, any sustained recoveries in wind power generation totals from these key areas will lead to a commensurate rebound in U.S. power generation totals, and may allow for utilities to pare back use of natural gas and other sources of power to make way for more non-emitting wind power supplies.

Persons: Nick Oxford, Ember, El Nino, Gavin Maguire, Shri Navaratnam Organizations: REUTERS, LSEG, Reuters, Reliability, of Texas, El, Climate Impact, National Oceanic, Atmospheric Administration, U.S, Thomson Locations: Big Spring , Texas, U.S, LITTLETON , Colorado, Texas, Texas , Iowa , Oklahoma , Kansas , Illinois, North Dakota, United States, pare, El Nino

☆ Fact Check-Video shows Vedic hymns chanted in Croatia, not White House
▼ + stars: | 2023-09-07 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

A video of people citing Vedic hymns was filmed in Croatia in 2018 but has been falsely captioned online to claim it shows an event in the White House. “At White house,’Shri Rudram Stotram’ was recited at the White House in America,” read posts on Facebook (here) and (here) and messaging platform X, formerly known as Twitter (here). The video matches images of an event organised by Veda Union, a network of European Veda chanting groups, in Zagreb, Croatia in 2018 (here). The White House and Veda Union did not immediately respond to a Reuters request for comment. Video of people chanting Vedic hymns was filmed in Croatia, not the White House.

Persons: “, Rudram Stotram ’, ”, Rudram, Read Organizations: White, Facebook, Veda Union, Veda, Reuters Locations: Croatia, White, America, Zagreb

☆ 'Jawan': Shah Rukh Khan fans pack India cinemas for latest movie release
▼ + stars: | 2023-09-06 | by ( Rhea Mogul | ) edition.cnn.com time to read: +3 min

CNN —Jubilant movie fans thronged Indian cinemas before the crack of dawn on Thursday, bursting fire crackers and dancing on the street to welcome the latest release by one of the country’s biggest stars. Some screenings began at 5 a.m. as die-hard fans of Bollywood icon Shah Rukh Khan packed into theaters to see the nationwide premiere of “Jawan,” his latest Hindi-language action thriller. In a social media post, Khan thanked his fans and said he stayed up late to watch the commotion unfold. Bollywood icon Shah Rukh Khan in Mumbai, on January 30, 2023. “I was never trying to be a movie star, I became one by chance.”Jubilant Shah Rukh Khan fans wait for his latest movie, "Jawan," to open in Mumbai on September 7, 2023.

Persons: Shah Rukh Khan, “, ”, Khan, ” Khan, Khan’s, Gauri Khan, Atlee, Khan ”, Indranil Aditya, Indranil Mukherjee, ” –, Raj, Simran, Le, “ Pathaan Organizations: CNN, Getty, Office Mojo Locations: India, Mumbai, Delhi

☆ U.S. dollar lifted by worries over global growth; Aussie sinks
▼ + stars: | 2023-09-05 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNEW YORK, Sept 5 (Reuters) - The dollar rose on Tuesday as jitters over global growth, particularly in China, caused investors to flock to the safe-haven U.S. currency, while the Aussie dollar slumped after the Reserve Bank of Australia kept rates steady. "Worries are on the rise about a China and Europe-led slowdown in global growth. The euro, was down 0.72% after hitting a near 3-month low against the dollar at $1.0719. The U.S. dollar also climbed against China's currency, and was last up 0.42% at 7.3081 against the yuan traded offshore. A deteriorating global growth picture sent the pound to a 12-week low against the dollar after a survey showed business activity in Britain contracted last month.

Persons: Dado Ruvic, Joe Manimbo, Christopher Waller, Waller, Convera's Manimbo, bitcoin, Saqib Iqbal Ahmed, Alun John, Shri Navaratnam, Alexander Smith, Shinjini Ganguli, Mike Harrison Organizations: REUTERS, Aussie, Reserve Bank of, Fed, Federal, U.S, Financial, Thomson Locations: China, Reserve Bank of Australia, Europe, Washington, U.S, Britain, London

☆ Shares, oil rise as sentiment towards China brightens
▼ + stars: | 2023-09-04 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

There was relief that embattled property developer Country Garden won approval from its creditors to extend payments for an onshore private bond. S&P 500 futures and Nasdaq futures rose between 0.2%-0.3%, while European stocks neared one-month highs. At least seven Fed officials are due to speak this week ahead of the next policy meeting on Sept. 19-20. In commodities, oil traded near seven-month highs on tightening supply as Saudi Arabia was widely expected to extend voluntary oil production cuts into October. Brent crude futures rose 0.2% to $88.75 a barrel, as did U.S. futures , reaching $85.73.

Persons: Ron Temple, I'm, Craig Erlam, we're, Christine Lagarde, Wayne Cole, Shri Navaratnam, Muralikumar Anantharaman, Simon Cameron, Moore, Sonia Cheema, Ed Osmond Organizations: Federal Reserve, Country Garden, Lazard, Investor, Holdings, Nasdaq, drugmaker Novo Nordisk, August's U.S, European Central Bank, Brent, Thomson Locations: United States, Beijing, China, Europe, U.S, Saudi Arabia, Sydney

☆ Shares, commodities rise as sentiment towards China brightens
▼ + stars: | 2023-09-04 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) added 1.1%, having climbed 2.3% last week, thanks in large part to a 1.3% rise in Chinese blue chips (.CSI300). S&P 500 futures and Nasdaq futures rose between 0.2%-0.3%, while European stocks neared one-month highs. At least seven Fed officials are due to speak this week ahead of the next policy meeting on Sept. 19-20. In commodities, gold benefited from the diminished risk of a U.S. rate rise to stand at $1,940 an ounce . Brent crude futures rose 0.2% to $88.75 a barrel, as did U.S. futures , reaching $85.73.

Persons: Ron Temple, Jim Reid, Christine Lagarde, Wayne Cole, Shri Navaratnam, Muralikumar Anantharaman, Simon Cameron, Moore, Sonia Cheema Organizations: Federal Reserve, Country Garden, Lazard, Holdings, Nasdaq, drugmaker Novo Nordisk, August's U.S, Deutsche Bank, European Central Bank, Brent, Thomson Locations: China, United States, Beijing, Asia, Pacific, Japan, drugmaker Novo, Canada, Australia, U.S, Saudi Arabia

"Whether this bounce will continue remains to be seen, but it has given China equities a shot in the arm." S&P 500 futures and Nasdaq futures both edged up 0.1%, while stocks in Europe opened on a strong footing. "The soft landing crowd will be pleased that the labour market is softening without much stress at the moment," Deutsche Bank strategist Jim Reid. Any path to a hard landing, outside of a shock, has to go via signs of a soft landing first," he said. Brent crude futures were steady on the day at $88.50 a barrel, while U.S. futures were also flat at $85.55.

Persons: Jim Reid, Christine Lagarde, Wayne Cole, Shri Navaratnam, Muralikumar Anantharaman, Simon Cameron, Moore Organizations: Federal Reserve, Country Garden, RBC Capital Markets, Holdings, Nasdaq, drugmaker Novo Nordisk, August's U.S, Deutsche Bank, European Central Bank, Brent, Thomson Locations: U.S, China, SYDNEY, United States, Beijing, Shanghai, Asia, Pacific, Japan, Europe, drugmaker Novo, Canada, Australia, Saudi Arabia

☆ Asia shares extend rally as China mood turns less bleak
▼ + stars: | 2023-09-04 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

An electronic board shows Shanghai and Shenzhen stock indexes, at the Lujiazui financial district in Shanghai, China October 25, 2022. There was relief that embattled property developer Country Garden won approval from its creditors to extend payments for an onshore private bond. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) added 1.0%, having climbed 2.3% last week. EUROSTOXX 50 futures added 0.3% and FTSE futures rose 0.4%. Central banks in Canada and Australia hold their own meetings this week and both are expected to hold rates steady.

Persons: Aly, Stocks, Goldman Sachs, Treasuries, Christine Lagarde, Brent firmed, Wayne Cole, Shri Navaratnam Organizations: REUTERS, Federal, Country Garden, Japan's Nikkei, Nasdaq, Holdings, Federal Reserve, European Central Bank, Thomson Locations: Shanghai, Shenzhen, China, U.S, SYDNEY, Beijing, United States, Asia, Pacific, Japan, Canada, Australia, Saudi Arabia

☆ More than half of Australians oppose Indigenous panel in constitution, poll shows
▼ + stars: | 2023-09-03 | by ( Renju Jose | ) www.reuters.com time to read: +2 min

[1/5] A Yes23 volunteer holds pamphlets while speaking with commuters about the upcoming Voice to Parliament referendum, in Melbourne, Australia August 30, 2023. AAP Image/James Ross via REUTERS Acquire Licensing RightsSYDNEY, Sept 4 (Reuters) - More than half of Australians would reject the inclusion of an Indigenous advisory panel in the constitution, a newspaper poll showed on Monday, as the government struggles to lift support for the landmark proposal ahead of a vote in about six weeks. The centre-left Labor government is under pressure to improve its messaging amid a steady fall in support for the referendum in opinion polls. On a two-party preferred basis, Labor still enjoys a lead of 53-47%, though that was down from 55-45% in the previous poll. Over the weekend, opposition leader Peter Dutton said he would hold a second referendum on Indigenous recognition if the Voice referendum fails but would not support a constitutionally-enshrined body, drawing criticism from the Voice support group.

Persons: James Ross, Anthony Albanese, Peter Dutton, " Albanese, Renju Jose, Shri Navaratnam Organizations: REUTERS Acquire, Rights, The Australian, Labor, Thomson Locations: Melbourne, Australia, Sydney

☆ Factbox: China's measures to shore up a faltering economy, more support expected
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +4 min

- China stepped up measures to boost the country's faltering economy, with top banks paving the way for further cuts in lending rates. Aug. 25 -China's cabinet on Friday approved guidelines for planning and construction of affordable housing at a meeting chaired by Premier Li Qiang. July 24- China's top leaders, at a Politburo meeting, pledged to step up support for the economy, signalling more stimulus steps. July 24 - China's state planner unveiled measures to support private investment in some infrastructure sectors and said it will strengthen financing support for private projects. July 14 - China's cabinet approved guidelines for improving the building of public infrastructure in megacities, to help support the economy and cope with future public health crises.

Persons: Premier Li Qiang, Kevin Yao, Shri Navaratnam Organizations: Premier, Communist Party, Thomson Locations: BEIJING, China, megacities

☆ Asia's factory activity weakens, China's rebound offers some hope
▼ + stars: | 2023-09-01 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

While the rebound in China's factory conditions say be a sign official efforts to revive growth is starting to have some effect, manufacturing activity in most of Asia remained stagnant in August. "It's unlikely we'll see a sharp, quick rebound in China's economy. Asia has been among the few bright spots in the global economy, though persistent weakness in China cloud the outlook. It expects China's economy to expand 5.2% this year after a 3.0% increase in 2022. Factory activity also contracted in Taiwan, Malaysia and the Philippines last month, with Indonesia the outlier with a modest expansion, surveys showed.

Persons: Siyi Liu, Toru Nishihama, Leika, Shri Navaratnam Organizations: REUTERS, PMI, P Global, Dai, Research, International Monetary Fund, Jibun Bank, Thomson Locations: Dezhou, Shandong province, China, Japan, Korea, TOKYO, Asia, South Korea, Taiwan, Malaysia, Philippines, Indonesia

☆ Euro falls as ECB hike bets take hit on inflation, policymaker comments
▼ + stars: | 2023-08-31 | by ( Samuel Indyk | ) www.reuters.com time to read: +4 min

U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. But, while euro area-wide inflation unexpectedly held at 5.3% this month, underlying price growth fell, complicating matters for the ECB, who now appear more likely to keep interest rates unchanged next month than raise them. ECB rate-setter Schnabel - considered one of the most hawkish members on the ECB - said euro zone growth was weaker than predicted but that does not necessarily void the need for more rate hikes. "I think the fact she is flagging downside risks to growth is putting some downside pressure on the euro." Both sterling and the euro are set for monthly drops of over 1% against the dollar in August.

Persons: Dado Ruvic, policymaker Isabel Schnabel, Schnabel, We've, Michael Brown, Chris Turner, Samuel Indyk, Tom Westbrook, Shri Navaratnam, Kim Coghill, Chizu Organizations: REUTERS, European Central Bank, ECB, Trader, Traders, Federal, Commerce Department, UK, CEE, New Zealand, Aussie, Thomson Locations: Tokyo

A man walks at the headquarters of Bank of Japan in Tokyo, Japan, January 18, 2023. The central bank would take time to determine whether it can raise interest rates as it waits for evidence that a sustained economic recovery will eradicate Japan's deflationary mindset, he said. "The key is for the economy to keep recovering," Nakamura told a news conference, when asked about the conditions for ending negative interest rates. We therefore need more time before shifting to monetary tightening," he said, adding the key was to determine whether companies' growth expectations were heightening. Markets are divided on whether the BOJ could remove the yield cap before raising short-term rates, ditch both simultaneously, or keep the yield cap when ending negative rates as a precaution against an abrupt rise in long-term yields.

Persons: Issei Kato, Nakamura, Toyoaki Nakamura, Japan's, we're, Naoki Tamura, Kazuo Ueda, Leika Kihara, Christian Schmollinger, Navaratnam, Gerry Doyle Organizations: Bank of Japan, REUTERS, Hitachi Ltd, Thomson Locations: Tokyo, Japan, GIFU, Gifu

However, in a hopeful sign for growth, conditions did not materially worsen even though the survey showed factories under persistent pressure. China's major manufacturing rivals in the region Japan and South Korea also reported sharp declines in output on Thursday. "It's too early to tell, but today's print suggests that a sequential uptick in growth activity in the third quarter could still be possible," said Louise Loo, senior economist with Oxford Economics. Policymakers remain under pressure to boost domestic demand as the global economy continues to slow. Going forward, "the actual implementation and effectiveness of policy support will be the key indicator to watch," he added.

Persons: It's, Louise Loo, Pan Gongsheng, Frederic Neumann, Bruce Pang, Jones Lang Lasalle, Joe Cash, Qiaoyi Li, Ellen Zhang, Sam Holmes Organizations: REUTERS, Rights, National Bureau of Statistics, PMI, Oxford Economics, Reuters, People's Bank of, Global Research Asia, HSBC, Jones, Thomson Locations: Hangzhou, Zhejiang province, China, Rights BEIJING, Japan, South Korea, People's Bank of China, United States, Europe, Asia

☆ BOJ policymaker Nakamura warns against premature monetary tightening
▼ + stars: | 2023-08-31 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

Tightening monetary policy before rising prices are accompanied by higher wages would hurt domestic demand and corporate profits, Nakamura said. We therefore need more time before shifting to monetary tightening," Nakamura said in a speech to business leaders in the city of Gifu in central Japan. "Close scrutiny of (economic) conditions and cautious decision-making are required when modifying monetary policy," he said, warning against shifting policy too hastily. Governor Kazuo Ueda has said the BOJ must maintain ultra-low rates until there is more evidence that Japan's inflation can sustainably hit 2% backed by solid consumption and wage growth. Reporting by Leika Kihara; Editing by Christian Schmollinger and Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Issei Kato, Nakamura, Toyoaki Nakamura, Naoki Tamura, Kazuo Ueda, Leika Kihara, Christian Schmollinger Organizations: Bank of Japan, REUTERS, Nakamura Overseas, Hitachi Ltd, Thomson Locations: Tokyo, Japan, Gifu

☆ Asian shares set for worst month since Feb on China gloom
▼ + stars: | 2023-08-31 | by ( Stella Qiu | ) www.reuters.com time to read: +3 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) added 0.1% but was still headed for a monthly loss of 5.9%, the largest since February. Data on Thursday showed China's manufacturing activity contracted for a fifth straight month in August, and the expansion in services sector lost a little momentum. Chinese blue-chips (.CSI300) were flat but a 2.5% rebound in property stocks boosted Hong Kong's Hang Seng Index, which rose 0.7%. Barring the China gloom, investor confidence jumped in August, with a global confidence index (ICI) from State Street Global Markets surging 11.4 points to 107.7, led by North America which recorded the strongest reading in a year on easing recession fears. Brent crude futures were little changed at $85.88 per barrel and U.S. West Texas Intermediate crude futures were up 0.1% at $81.74.

Persons: Marvin Loh, payrolls, Stella Qiu, Shri Navaratnam Organizations: U.S, PCE, Japan's Nikkei, ICI, Street Global, North, Global ICI, State Street Global, Federal, European Central Bank, Brent, . West Texas, Thomson Locations: China, SYDNEY, Asia, Pacific, Japan, North America, Europe, Germany, Spain

☆ Japan's July factory output slumps, raises pressure on manufacturers
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Issei Kato/File Photo Acquire Licensing RightsTOKYO, Aug 31 (Reuters) - Japan's factory output fell more than expected in July, signalling a rocky start to the second half of the year for manufacturers as worries mount over growth in China and the global economy. Industrial output fell 2.0% in July from the previous month, data from the Ministry of Economy, Trade and Industry (METI) showed on Thursday. Output of electronic parts and devices fell 5.1%, while that of production machinery decreased 4.8%, driving the overall decline. Among production machinery, output for semiconductor manufacturing equipment fell by 16.4%. Other data showed Japanese retail sales expanded 6.8% in July from a year earlier.

Persons: Issei Kato, Masato Koike, Satoshi Sugiyama, Kantaro Komiya, Chang, Ran Kim, Shri Navaratnam, Sam Holmes Organizations: REUTERS, Rights, Ministry, Economy, Trade, Industry, Toyota, Honda, Manufacturers, Sompo, Thomson Locations: Kawasaki, Japan, China

☆ Ace king Isner calls it a career after U.S. Open loss
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +3 min

[1/5] Aug 31, 2023; Flushing, NY, USA; John Isner of the United States serves against Michael Mmoh of the United States (not pictured) on day four of the 2023 U.S. Open tennis tournament at USTA Billie Jean King National Tennis Center. Isner had match point at 5-4 in the fifth but Mmoh was able to serve his way out of trouble and levelled with a drop shot. After a successful college career at Georgia, Isner turned pro in 2007 and went on to reach a career high of world number eight. He won the longest professional tennis match in history against Frenchman Nicolas Mahut at Wimbledon in 2010, which lasted 11 hours and 5 minutes and took place over three days. Isner finishes his 17-year pro career with 14,470 aces, a record that is unlikely to be broken anytime soon.

Persons: John Isner, Michael Mmoh, USTA Billie Jean King, Geoff Burke, Isner, Mmoh, it's, It's, Madison, Frenchman Nicolas Mahut, Jack Sock, Albano Olivetti, Robert Galloway, Taylor Fritz, Frances Tiafoe, Tommy Paul, Ben Shelton, Rory Carroll, Frank Pingue, Ed Osmond Organizations: United States, USTA Billie, USTA Billie Jean King National Tennis Center, USA, U.S ., Georgia, Miami, Wimbledon, England, U.S, Thomson Locations: Flushing , NY, USA, United, United States, Robert Galloway . U.S, Los Angeles, Toronto

REUTERS/Mahamadou Hamidou Acquire Licensing RightsTOLEDO, Spain, Aug 31 (Reuters) - European Union foreign ministers meet in Spain on Thursday to discuss their response to last month's coup in Niger - including possible sanctions - as they also consider news of military officers declaring they have seized power in Gabon. Borrell said the EU was "moving forward" with work on a legal framework for sanctions against the junta in Niger and the foreign ministers would discuss it further on Thursday. Both the EU and ECOWAS have already imposed punitive economic and political measures on Niger but the framework would allow the EU to target specific individuals and organisations. Borrell said on Wednesday after an EU defence ministers' meeting that the EU would seek to mirror any measures taken by ECOWAS. Diplomats said another subject of discussion was how the EU should respond if ECOWAS asks for financial help for a military intervention to restore Niger's ousted government.

Persons: Ibro Amadou, Mahamadou, Dmytro Kuleba, Hassoumi Massoudou, Niger's, Omar Touray, Josep Borrell, Borrell, David Latona, Andrew Gray, Shri Navaratnam Organizations: Nigerien, REUTERS, Rights, Union, Ukrainian Foreign, ECOWAS, Wednesday, West, EU, Diplomats, Thomson Locations: Niamey, Niger, Rights TOLEDO, Spain, Gabon, West, Central, Toledo, Ukraine, West Africa's, EU

A record 38 QDII funds had been launched this year until August 17, outpacing the 31 funds launched in 2022, Morningstar data shows. Tianhong, which is planning new QDII products, obtained a $120 million fresh QDII quota in July, less than it had hoped for. Rather than foreign capital selling China equities, this time it's Chinese investors’ outbound investment,” Liu said. HUGE DEMANDThe QDII program, launched in 2006, remains a key outbound investment channel for mainland Chinese investors, alongside the Qualified Domestic Limited Partnership (QDLP) programme. Tracy Liu, an individual investor working in the information technology industry, invested in an India-focused QDII fund in March.

Persons: Aly, Ivan Shi, Liu Dong, Becky Liu, Liu, ” Liu, Desiree Wang, Tracy Liu, Summer Zhen, Samuel Shen, Jason Xue, Vidya Ranganathan Organizations: REUTERS, Morningstar, Domestic Institutional, Nasdaq, Ben Advisors, Connect, Bond, U.S, Dow Jones, State Administration of Foreign Exchange, Tianhong, Management, Ant Financial, Standard Chartered Bank, Reuters, Qualified Domestic Limited, Asset Management Association of China, Guangfa NASDAQ, Technology, Morgan Asset Management, Morgan Asset Management China, Thomson Locations: Shanghai, Shenzhen, China, U.S, HONG KONG, SHANGHAI, Hong Kong, Vietnam, India, outflows, Japan, Russia

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