Tag: AsiaPacific

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Asia-Pacific markets rise; Hong Kong’s Hold Seng in bear territory

Asia-Pacific markets rise; Hong Kong's Hang Seng in bear territory

SINGAPORE – Asia Pacific stocks rose in trading Monday morning as investors look to the Hong Kong opening after the Hang Seng index plunged into a bear market last week.

Japan’s Nikkei 225 rose 0.99% in early trading while the Topix index rose 1.29%.

Kospi from South Korea gained 0.78%. In Australia, the S & P / ASX 200 climbed 0.31%.

MSCI’s broadest index for Asia Pacific stocks outside of Japan traded 0.23% higher.

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Investors will be watching the Hong Kong market, which opens at 9:30 a.m. HK / SIN after the Hang Seng index fell more than 20% from its mid-February high through heavy losses last week as regulatory uncertainty over the outlook continues to cloud for Chinese technology companies.

Other factors that could weigh on investor sentiment include concerns about a possible withdrawal of monetary policy stimulus by the US Federal Reserve and the continued proliferation of the Delta-Covid-19 variant.

Currencies and oil

The US dollar index, which tracks the greenback versus a basket of its competitors, hit 93.485 after its recent surge from below 93.2.

The Japanese yen was trading at 109.85, stronger than levels above 110 against the greenback last week. The Australian dollar was trading at $ 0.7142 after falling above $ 0.729 last week.

Oil prices were higher on the morning of Asian trading hours, with international benchmark Brent crude oil futures rising 0.6% to $ 65.57 a barrel. US crude oil futures rose 0.48% to $ 62.44 a barrel.

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World News

Asia-Pacific shares set to drop; Japan’s retail gross sales information forward

Asia-Pacific stocks set to drop; Japan's retail sales data ahead

SINGAPORE – Asia Pacific markets were mostly lower in early Friday trading. Meanwhile, US stocks rebounded, despite data showing that gross domestic product grew less-than-expected in the second quarter.

The Japanese Nikkei 225 lost 0.8% in early trading while the Topix lost 0.46%.

Reuters reported that the country’s industrial production rose 6.2% in June, up sharply after falling 6.5% in May. Retail sales in June were up 0.1% yoy, less than forecast for a 0.2% increase.

South Korea’s Kospi lost 0.55%.

The S & P / ASX 200 in Australia traded just above the flatline. Markets will be tracking the Covid situation in Sydney, which reported a record daily surge in Covid cases despite an extended lockdown on Thursday. Reuters reported that authorities have asked the military for help enforcing the lockdown.

MSCI’s broadest index for Asia Pacific stocks outside of Japan was unchanged.

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Shares rebounded during Thursday’s regular session in the US, although data showed US GDP rose 6.5% on an annualized basis in the second quarter, well below the 8.4% Dow Jones estimate.

The Dow Jones Industrial Average gained around 150 points on Thursday after hitting a new intraday high. The S&P 500, which also briefly hit an all-time high, ended the day up 0.4% at 4,419.15.

“Yesterday’s rebound in Chinese equities after the recent regulatory-induced sell-off resulted in solid performance overnight in risk assets,” said Rodrigo Catril, senior FX strategist at National Australia Bank.

Investors will watch as Chinese stocks end a week of volatile trading. Hong Kong’s Hang Seng index fell more than 8% in two days and rebounded 3% in Thursday’s session.

Currencies and oil

The US dollar index, which tracks the greenback versus a basket of its competitors, stood at 91.880, falling from a level above 92 the previous day.

The Japanese yen was trading at 109.40 per dollar, up slightly from above 109.9 at the beginning of the week. The Australian dollar changed hands at $ 0.7394 after falling to around $ 0.735 earlier in the week.

Oil prices fell on the morning of Asian trading hours, with Brent crude oil futures falling 0.34% to $ 75.79 a barrel. US crude oil futures are down 0.42% to $ 73.33 a barrel.

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World News

Asia-Pacific shares dip as buyers watch China tech shares in Hong Kong

Asia-Pacific stocks dip as investors watch China tech shares in Hong Kong

SINGAPORE — Shares in Asia-Pacific were lower in Friday morning trade as investors monitor Chinese tech stocks in Hong Kong after regulatory concerns resurfaced.

South Korea’s Kospi sat below the flatline in early trade. In Australia, the S&P/ASX 200 shed 0.18%.

MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.07% lower.

Markets in Japan are closed on Friday for a holiday.

China tech stock watch

Investors will watch Chinese tech shares in Hong Kong after Bloomberg News reported that Beijing is considering harsh penalties on ride-hailing giant Didi. The penalties being planned range from a fine likely bigger than the record $2.8 billion Alibaba paid earlier this year to even a forced delisting after Didi’s IPO last month.

Shares of Didi stateside plunged more than 11% on Thursday. Earlier in July, the firm was forced to stop signing up new users and also had its app removed from Chinese app stores due to alleged collection and use of personal data.

That development came as Beijing continues its months-long crackdown on China’s tech behemoths, targeting issues from anti-trust to data regulation.

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Overnight stateside, the Dow Jones Industrial Average edged 25.35 points higher to 34,823.35 while the S&P 500 gained 0.2% to 4,367.48. The Nasdaq Composite rose 0.36% to 14,684.60.

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 92.805 — off levels above 93 seen earlier in the week.

The Japanese yen traded at 110.12 per dollar, weaker than levels below 109.6 seen against the greenback earlier this week. The Australian dollar changed hands at $0.738, above levels below $0.732 seen earlier in the trading week.

Oil prices were lower in the morning of Asia trading hours, with international benchmark Brent crude futures down 0.23% to $73.62 per barrel. U.S. crude futures slipped 0.24% to $71.74 per barrel.

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World News

Asia-Pacific shares rise as buyers await China’s commerce knowledge for June

Asia-Pacific stocks edge higher; Australia central bank's rate decision ahead

SINGAPORE — Shares in Asia-Pacific rose in Tuesday morning trade as investors awaited the release of China’s trade data for June.

The Nikkei 225 in Japan gained 0.55% in early trade while the Topix index advanced 0.57%. South Korea’s Kospi climbed 0.54%.

Shares in Australia also advanced as the S&P/ASX 200 edged 0.25% higher.

MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.1% higher.

On the economic data front, China is set to release its trade data for June at 11:00 a.m. HK/SIN on Tuesday.

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Overnight stateside, the major indexes on Wall Street rose to record closing highs.

The Dow Jones Industrial Average advanced 126.02 points to 34,996.18 while the S&P 500 gained about 0.35% to 4,384.63. The Nasdaq Composite climbed 0.21% to 14,733.24.

Currencies

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 92.214 as it struggled to return to levels above 92.7 seen last week.

The Japanese yen traded at 110.30 per dollar, still weaker than levels below 110 seen against the greenback last week. The Australian dollar changed hands at $0.7481, above levels around $0.745 seen yesterday.

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World News

Asia-Pacific shares edge increased; Australia central financial institution’s fee choice forward

Asia-Pacific stocks edge higher; Australia central bank's rate decision ahead

SINGAPORE — Shares in major Asia-Pacific markets edged higher on Tuesday morning as investors look ahead to the Australian central bank’s interest rate decision.

The Nikkei 225 and Topix index in Japan both rose fractionally in morning trade. Over in South Korea, the Kospi gained 0.24%.

Meanwhile, stocks in Australia climbed as the S&P/ASX 200 advanced 0.22%.

MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.08% higher.

Looking ahead, the Reserve Bank of Australia is set to announce its interest rate decision at 12:30 p.m. HK/SIN on Tuesday.

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US crude futures jump

U.S. crude futures jumped in the morning of Asia trading hours on Tuesday, rising 1.57% to $76.34 per barrel. International benchmark Brent crude futures were fractionally higher at $77.19 per barrel.

Shares of Asia-Pacific firms in the oil space rose in Tuesday morning trade, with Australia’s Beach Energy rising 1.57% while Santos gained 1.44%. Shares of Inpex in Japan also jumped 1.19%.

Oil prices surged to multiyear highs on Monday after talks between OPEC and its oil-producing allies, known as OPEC+, were postponed indefinitely following a failure by the group to reach on agreement on production policy for August and beyond.

Currencies

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 92.241 — off levels above 92.4 seen late last week.

The Japanese yen traded at 110.86 per dollar after touching levels around 110.8 against the greenback yesterday. The Australian dollar changed hands at $0.7541, above levels below $0.752 seen yesterday.

Here’s a look at what’s on tap:

  • Australia: Reserve Bank of Australia’s interest rate decision at 12:30 p.m. HK/SIN

— CNBC’s Pippa Stevens contributed to this report.

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World News

Australia shares fall greater than 1% as Asia-Pacific shares slip

Australia shares fall more than 1% as Asia-Pacific stocks slip

SINGAPORE – Asia Pacific stocks fell Wednesday morning, with some markets in the region closed for public holidays.

The Australian S & P / ASX 200 took losses in key markets in the region as it fell 1.64%.

Mainland China stocks were also lower, with the Shanghai compound falling 0.49% while the Shenzhen component falling 0.387%.

The Nikkei 225 in Japan fell 0.97% while the Topix index fell 0.49%.

MSCI’s broadest index for stocks in the Asia-Pacific region outside Japan was down 0.38%.

In terms of corporate performance, Singapore Airlines shares fell about 2% on Wednesday morning. The company will announce its full year results later in the day.

The markets in Hong Kong and South Korea are closed on Wednesday for public holidays.

Overnight, the Dow Jones Industrial Average fell 267.13 points to 34,060.66 while the S&P 500 was down 0.85% to close at 4,127.83. The Nasdaq Composite lost 0.56% to 13,303.64.

Oil prices drop 1%

Oil prices eased on the morning of Asian trading hours and the international reference Brent crude oil futures fell 1.03% to $ 68 a barrel. US crude oil futures were down 1.07% to $ 64.79 a barrel.

The US dollar index, which tracks the greenback versus a basket of its peers, hit 89.827 after falling over 90 recently.

The Japanese yen was trading at 109.01 per dollar after rising above 109 against the greenback yesterday. The Australian dollar was trading at $ 0.7788, up from $ 0.774 earlier this week.

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World News

Asia-Pacific shares little modified as markets wrestle for route

Asia-Pacific stocks little changed as markets struggle for direction

SINGAPORE – Asia Pacific stocks barely changed on Wednesday morning, with major markets wrestling over direction.

In Japan, the Nikkei 225 fell slightly while the Topix index rose 0.2%.

Japan’s retail sales rose 5.2% year over year in March, according to the government. According to Reuters, this was higher than a median market forecast for growth of 4.7%.

South Korea’s Kospi slipped easily. The S & P / ASX 200 in Australia was down about 0.1%. Australia’s inflation data for the first quarter are expected. The consumer price index is expected to be released at 9:30 a.m. HK / SIN.

MSCI’s broadest index for stocks in the Asia-Pacific region outside of Japan was down 0.08%.

On corporate developments, investors will monitor Alibaba’s Hong Kong-listed shares after the Wall Street Journal reported that China is investigating how founder Jack Ma received swift approval to list the company last year.

The major indices on Wall Street were muted overnight in the US. The S&P 500 closed little changed at 4,186.72, while the Dow Jones Industrial Average also ended its trading day largely unchanged at 33,984.93. The Nasdaq Composite fell 0.34% to close at 14,090.22.

Currencies and oil

The US dollar index, which tracks the greenback versus a basket of its peers, stood at 90.893 after hitting below 90.9 at the start of the trading week.

The Japanese yen was trading at 108.79 per dollar after weakening significantly below 108 against the greenback at the beginning of the trading week. The Australian dollar was trading at $ 0.7762 after yesterday’s drop of around $ 0.78.

Oil prices were higher on the morning of Asian trading hours and the international benchmark’s Brent crude oil futures rose 0.12% to $ 66.50 a barrel. US crude oil futures rose 0.13% to $ 63.02 a barrel.

Here’s a look at what’s on tap:

  • Australia: First quarter consumer price index at 9:30 am HK / SIN
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World News

India shares lead losses in Asia-Pacific; Alibaba shares in Hong Kong surge

India stocks lead losses in Asia-Pacific; Alibaba shares in Hong Kong surge

SINGAPORE – Stocks in India fell as stocks in Asia Pacific traded lower on Monday.

Both the Nifty 50 and BSE Sensex in India fell more than 2% each on Monday morning.

The losses came when the Covid-19 situation in the country remained severe. Reuters reported that the hardest-hit state of Maharashtra is considering a lockdown.

Meanwhile, stocks in mainland China also fell as the Shanghai compound fell 0.81% while the Shenzhen component fell 1.72%. Hong Kong’s Hang Seng Index fell 0.98%.

In Japan, the Nikkei 225 fell 0.52% while the Topix index was below the flatline. South Korea’s Kospi bucked the trend, rising 0.03%.

Australian stocks were down as the S & P / ASX 200 lost 0.45%.

The broadest MSCI index for stocks in the Asia-Pacific region outside Japan fell 1.19%.

Stocks in motion

Currencies and oil

The US dollar index, which tracks the greenback versus a basket of its peers, stood at 92.251 after falling above 92.8 earlier this month.

The Japanese yen was trading at 109.54 per dollar, stronger than above 110.5 against the greenback last week. The Australian dollar changed hands at $ 0.7608 after last week’s turbulent trading as it rose from over $ 0.765 to around $ 0.759.

Oil prices barely changed on the morning of trading hours in Asia. The international reference Brent crude oil futures rose slightly to $ 62.99 per barrel. The US crude oil futures were slightly higher at $ 59.37 a barrel.

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Business

Air journey optimism boosts Asia-Pacific airline shares

Air travel optimism boosts Asia-Pacific airline stocks

Qantas A380 will take off from the runway in Saxony, Dresden on August 21, 2020

Tino Plunert | Image Alliance | Getty Images

SINGAPORE – Asia Pacific airline stocks traded Tuesday after numerous announcements significantly improved the outlook for international air travel.

Qantas Airways shares in Australia rose 2.55% while Air New Zealand shares rose 6%.

Those stocks rose when New Zealand Prime Minister Jacinda Ardern announced that the “travel bubble” between her country and Australia would begin on April 19th.

Meanwhile, the Singapore Aviation Authority announced that from May the country will start accepting travelers using the International Air Transport Association (IATA) mobile passport for pre-departure checks. Singapore Airlines shares rose 0.2% on Tuesday.

“The trust of a leading airline such as Singapore in the IATA Travel Pass is extremely important,” said Willie Walsh, IATA general manager, in a statement.

“With ongoing testing, we are on track to see that the IATA Travel Pass is a critical tool in restarting the industry by providing governments with verified travel health information. And travelers can have full confidence that their personal information is secure and be under their own control, “said Walsh.

Elsewhere, Korean Air Lines stocks were flat, while Japanese airline stocks lagged the broader region. Japan Airlines fell 2.44% while ANA Holdings fell 2.19%.

Local media reported that as of Monday, quasi-emergency Covid-19 measures were carried out in several prefectures in Japan to contain a resurgence of infections.

The aviation industry is among the sectors hardest hit by the coronavirus pandemic as authorities tightened border restrictions around the world to contain the spread of the virus.

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World News

Japan shares edge larger as main markets in Asia-Pacific are closed

Japan stocks edge higher as major markets in Asia-Pacific are closed

SINGAPORE – Japanese stocks rose Monday afternoon as many major Asia Pacific markets are closed for public holidays.

In Japan, the Nikkei 225 was up 0.91% while the Topix index was up 0.66%.

South Korea’s Kospi hovered over the flatline. LG Electronics’ shares rose approximately 0.6%. The company announced on Monday that it was closing its mobile division to focus resources on “growth areas” like electric vehicle components.

The broadest MSCI index for stocks in the Asia-Pacific region outside of Japan has hardly changed.

The markets in Australia, Mainland China and Hong Kong are closed on Mondays for public holidays.

US payrolls exceed expectations

In terms of economic development, the U.S. Department of Labor reported Friday that the number of non-agricultural workers rose by 916,000 in March – well above the 675,000 increase that Dow Jones polled economists had expected.

The unemployment rate also fell to 6%, in line with the expectations of economists polled by Dow Jones.

Currencies and oil

The US dollar index, which tracks the greenback versus a basket of its peers, came in at 92.942 – up above 93.3 from late last month.

The Japanese yen was trading at 110.57 per dollar, weaker than 110.5 against the greenback last week. The Australian dollar changed hands at $ 0.7619, above the $ 0.756 level seen last week.

Oil prices were lower in the afternoon of Asian trading hours, with the international benchmark Brent crude oil futures falling 0.99% to $ 64.22 a barrel. US crude oil futures were down 0.91% to $ 60.89 a barrel.