Hong Kong stocks fall 2%, private survey shows China’s services activity jump

Hong Kong, Macao to fully reopen borders with mainland China Travel between mainland China and Hong Kong as well as Macao will fully resume on Feb. 6, China’s Hong Kong and Macao Affairs Office of the State Council said in an announcement. The release said mandatory tests for most travelers will be dropped, and group … Read more

View More Hong Kong stocks fall 2%, private survey shows China’s services activity jump

Asia-Pacific markets trade mixed as investors digest Fed’s smaller quarter-point hike

Adani Enterprises withdraws follow-on public offering overnight Investors will be closely watching shares of Adani Group companies after Adani Enterprises withdrew its $2.5 billion follow-on public offering overnight, despite the sale being fully subscribed, which many saw as a vote of confidence from investors. The company cited “the unprecedented situation and the current market volatility,” … Read more

View More Asia-Pacific markets trade mixed as investors digest Fed’s smaller quarter-point hike

IMF hikes global growth forecast as inflation cools and household spending surprises

The IMF has revised its global economic outlook upwards. Norberto Duarte | Afp | Getty Images The International Monetary Fund on Monday revised upward its global growth projections for the year, but warned that higher interest rates and Russia’s invasion of Ukraine would likely still weigh on activity. In its latest economic update, the institution … Read more

View More IMF hikes global growth forecast as inflation cools and household spending surprises

Chinese stocks pop, head for bull market on return from Lunar New Year holiday

Visitors on Central Street of the Taipa Village in Macau, China, on Wednesday, Jan. 25, 2023. Tourism and spending are reviving in Macau as the Lunar New Year holiday spurred a jump in visitors after pandemic travel restrictions were eased between the territory and mainland China. Bloomberg | Bloomberg | Getty Images Stocks in the … Read more

View More Chinese stocks pop, head for bull market on return from Lunar New Year holiday

The U.S. dollar may hold the key to whether this market rally can last

How stocks handle a bounce in the U.S. dollar could be a sign of strength for markets and hint that the January rally may last. The U.S. dollar surged in 2022, with the dollar index hitting a peak of 114.78 in September. At the same time, stocks have sold off due to the dollar strength, … Read more

View More The U.S. dollar may hold the key to whether this market rally can last

Asia markets rise following Wall Street’s gains, Tokyo inflation notches up

Tokyo’s inflation stays above Bank of Japan’s target Consumer prices in Japan’s capital Tokyo rose by 4.3% in January, higher than expected by economists polled by Reuters. The reading also maintained levels higher than the Bank of Japan’s target of 2% inflation for an eighth consecutive month after rising 2.1% in June 2022. The Japanese … Read more

View More Asia markets rise following Wall Street’s gains, Tokyo inflation notches up

‘Outright negative’ on stocks: JPMorgan’s Marko Kolanovic braces for correction, hard landing

JPMorgan’s Marko Kolanovic is abstaining from the early 2023 rally. Instead, the Institutional Investor hall-of-famer is bracing for a 10% or more correction in the first half of this year, telling investors he’s “outright negative” on the market. “Fundamentals are deteriorating. And, the market has been moving up. So, that has to clash at some … Read more

View More ‘Outright negative’ on stocks: JPMorgan’s Marko Kolanovic braces for correction, hard landing

Asia-Pacific markets rise as most of the region observes Lunar New Year holidays

Australia’s business conditions worsened last month: NAB survey National Australia Bank’s monthly business survey showed worsened business conditions for December with a reading of 12 points, a decline from November’s print of 20 points. The survey reflects deteriorated trading conditions, profitability, and employment, NAB said. “The main message from the December monthly survey is that … Read more

View More Asia-Pacific markets rise as most of the region observes Lunar New Year holidays

Asia markets mostly rise as Japan’s inflation data reaches highest since 1981

China leaves 1-year, 5-year loan prime rates unchanged The People’s Bank of China left the loan prime rates for 1-year and 5-year unchanged, widely in line with expectations. The 1-year LPR stayed at 3.65% while the 5-year LPR remained at 4.3%, both unchanged since August, 2022. The offshore and onshore Chinese yuan was flat and … Read more

View More Asia markets mostly rise as Japan’s inflation data reaches highest since 1981

Shenzhen stocks rise 2%, Asia markets mixed on cooled U.S. inflation outlook

Bitcoin on 13-day winning streak, surpasses $20,000 Japan wholesale prices rise faster than expectations Japan’s producer prices, or wholesale prices, rose 10.2% in December compared with a year ago, according to official data. That was higher than a rise of 9.5% expected by economists polled by Reuters and marked the third consecutive rise in monthly … Read more

View More Shenzhen stocks rise 2%, Asia markets mixed on cooled U.S. inflation outlook