Jan.20 — Marcos Chan, head of research for the Greater Bay Area & Hong Kong at CBRE, discusses Hong Kong’s commercial real estate sector and how the Mystery China virus could impact the market. He speaks on “Bloomberg Markets: Asia.” …read more […]
(Bloomberg) — U.S. stock index futures slid as concerns over the spread of a SARS-like virus from central China damped demand for equities. S&P 500 Index futures contracts expiring in March fell as much as 0.5% after multiple medical workers were reported to have been infected. Dow Jones Industrial Average contracts were down 0.3% while those on the Nasdaq 100 retreated 0.5%. U.S. markets were closed Monday for Martin Luther King Jr. Day.Asian Tourism, Consumer Stocks Slip Amid Concern of Virus ImpactAsian stocks tumbled as risk-off sentiment roiled markets and spurred a flight to quality across assets. Gold and the …read more […]
Uber has sold its online food-ordering business in India to local rival Zomato in exchange for a 9.99% stake in the startup backed by China’s Ant Financial, limiting its exposure to a crowded market where it has struggled to grow.
(Bloomberg) — A virus outbreak in China is sending shockwaves through the country’s stock market, denting what had been growing enthusiasm toward shares.Consumer shares led losses in the FTSE China A50 Index of large caps Tuesday, which was set for its biggest drop in almost five months. Investors also sold crowd favorites such as liquor makers Wuliangye Yibin Co. and Kweichow Moutai Co., while travel operator China International Travel Service Corp. fell 3.5%. The offshore yuan slid as much as 0.5%, briefly trading on the weak side of 6.9 per dollar.The declines come just days before China celebrates the Lunar …read more […]
(Bloomberg) — China’s financial opening could be a classic case of be careful what you wish for.The opportunity of making inroads in the world’s second-largest economy is prompting the likes of Goldman Sachs Group Inc. and JPMorgan Chase & Co. to detail expansions that some estimate will see $1 trillion plowed into China. Plans to throw open the $45 trillion market were expedited last week after China said it will hasten the entry for securities firms, rating companies and credit-card providers as part of a trade deal with the U.S.Yet, a bevy of hurdles still promise to complicate the efforts …read more […]
Oil prices eased on Tuesday as investors appeared to shrug off earlier supply concerns following a force majeure declared by Libya on two major oilfields amid a military blockade.
Asian shares took a sudden lurch lower on Tuesday as mounting concerns about a new strain of pneumonia in China sent a ripple of risk aversion through markets.
The more you delve into the details of China’s commitment to buy an additional $52.4 billion in U.S. energy over the next two years, the more it becomes apparent the goal is unachievable, even with the best will in the world. As part of the “Phase 1” trade truce between Beijing and Washington, China undertook to buy energy over and above a $9.1 billion baseline of U.S. imports in 2017, with a split of an extra $18.5 billion in 2020 and $33.9 billion in 2021. In practical terms this means China’s imports from the United States this year …read more […]
Jan.20 — Fan Cheuk Wan, chief Asia market strategist and managing director at HSBC Private Banking, discusses Asia earnings estimates and her investment strategy for the region. She speaks on “Bloomberg Markets: China Open.” …read more […]
Asian shares took a sudden lurch lower on Tuesday as a ripple of risk aversion swept markets, though analysts could find no obvious trigger for the move.
(Bloomberg) — Stocks and U.S. futures took a modest dive in morning trading in Asia, with Hong Kong equities opening to a slide in excess of 1%.The yen and U.S. Treasuries advanced as a broad risk-off move developed, with gold edging higher. China’s yuan dropped. Market participants attributed the moves to worries over China’s coronavirus, after reports indicating mounting evidence of its contagiousness among humans. Seven straight weekly advances in the MSCI Asia Pacific Index might also have left some investors looking for a short-term exit point from equities.“As Chinese citizens travel home for the Lunar New Year, more cases …read more […]
Jan.20 — Jeff Currie, global head of commodities research at Goldman Sachs, discusses the potential for carbon capture technologies, oil prices and his outlook for metals. He speaks exclusively on “Bloomberg Daybreak: Asia” from the sidelines of the Goldman Sachs Global Macro Conference Asia Pacific in Hong Kong. …read more […]
Natural gas prices fell below $2 last week, and as the global gas market remains well supplied, prices could fall even further …read more […]
Papua New Guinea carrier Air Niugini has updated its contract with Boeing Co to delay the delivery of its four 737 MAX jets on order until at least 2024, the airline’s chief executive said on Tuesday.
Asian shares got off to a cautious start on Tuesday lacking any lead from Wall Street and after the IMF shaved its outlook for world growth this year, though it did offer a brighter view on China.
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