Chinese stocks up more than 2%, rest of Asia mixed as investors assess coronavirus impact

Asia Pacific markets traded mixed on Monday as investors continued to assess the potential economic fallout from the pneumonia-like coronavirus that’s infected more than 70,000 people and killed over 1,700. The Ministry of Finance said Saturday it would provide 8 billion yuan in a second round of support for virus prevention and control efforts. As of Friday, all levels of finance ministries in China had allocated 90.15 billion yuan in support, according to the central government. Singapore’s St


Asia Pacific markets traded mixed on Monday as investors continued to assess the potential economic fallout from the pneumonia-like coronavirus that’s infected more than 70,000 people and killed over 1,700.
The Ministry of Finance said Saturday it would provide 8 billion yuan in a second round of support for virus prevention and control efforts.
As of Friday, all levels of finance ministries in China had allocated 90.15 billion yuan in support, according to the central government.
Singapore’s St
Chinese stocks up more than 2%, rest of Asia mixed as investors assess coronavirus impact Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-17  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, stocks, impact, billion, virus, wrote, economic, travel, rest, liquidity, china, yuan, mixed, assess, asia, index, coronavirus, chinese, investors


Chinese stocks up more than 2%, rest of Asia mixed as investors assess coronavirus impact

Asia Pacific markets traded mixed on Monday as investors continued to assess the potential economic fallout from the pneumonia-like coronavirus that’s infected more than 70,000 people and killed over 1,700.

Chinese shares on the mainland rose: The Shanghai composite rose 2.28% to 2,983.62, the Shenzhen composite was up 3.18% to 1,835.96 and the Shenzhen component added 2.98% to 11,241.50.

Hong Kong’s Hang Seng index rose 0.58% in late afternoon trade.

In an effort to alleviate the shock of the virus outbreak on businesses, China is planning targeted tax cuts while increasing government spending, Finance Minister Liu Kun wrote Sunday in China’s Communist Party magazine Qiushi.

The Ministry of Finance said Saturday it would provide 8 billion yuan in a second round of support for virus prevention and control efforts. As of Friday, all levels of finance ministries in China had allocated 90.15 billion yuan in support, according to the central government.

Economists expect the People’s Bank of China to step up its liquidity measures to ease funding conditions in Chinese money markets to combat downside risks posed by the infection. “Admittedly, while lots of fluids is a recommendation for flu, money market liquidity infusions alone will not address China’s woes from the coronavirus,” Vishnu Varathan, head of economics and strategy for Asia at Mizuho Bank, wrote in a note.

“Nonetheless, ensuring ease of cash flow is a necessary condition to ensure otherwise viable businesses do not go belly up due to a seizure in liquidity,” Varathan said, adding that he thought the PBOC would “more than offset upcoming liquidity drainage.”

Read: Coronavirus live updates — China reports 105 additional deaths, 2,048 new cases

Elsewhere, Japanese shares fell, with the benchmark Nikkei 225 down 0.69% to 23,523.24 and the Topix index off by 0.89% to 1,687.77. Cabinet office data revealed the Japanese economy shrank at an annualized pace of 6.3% in the three months that ended in December. Analysts in a Reuters poll were predicting an annual decline of 3.7%. On-quarter, GDP fell 1.6%.

In Australia, the ASX 200 closed fractionally lower at 7,125.10, as the heavily weighted financial subindex declined 0.44%. South Korea’s Kospi index declined 0.06% to 2,242.17. Singapore’s Straits Times index was down 0.23% as of 3:48 p.m. HK/SIN, after the city-state downgraded its 2020 economic forecast. Singapore is grappling with one of the highest numbers of coronavirus cases outside China.

“The worrying human and economic toll of the COVID-19 outbreak is creating much uncertainty, especially as changes to the case tracking methods are making news difficult to interpret,” John Bromhead from ANZ Research wrote in a morning note.

“Markets appear to be expecting a short-lived economic impact, but they are in “wait-and-see” mode,” Bromhead said, explaining that although Chinese factories are slowly re-opening after being shut over an extended period of time after the Lunar New Year break, it will take time to clear the backlog of cargo at ports. Significant disruption is also ongoing, he added.

The virus, which was first detected in the Chinese city of Wuhan, is expected to have a significant economic impact on China as well as the global economy. Officials disclosed on Saturday that travel during the latest Lunar New Year period was a fraction of previous years amid increased travel restrictions aimed at containing the virus’ spread.

People stayed home and took advantage of refund policies that authorities enacted — China’s aviation authority said since it first announced a ticket refund policy in late January, domestic and foreign airlines have processed 20 million in tickets worth more than 20 billion yuan ($2.9 billion). The number of flights has been about a quarter of what it was last year, a representative said.

China’s railway authority said rail trips during the holiday travel period so far has been one-seventh of the 280 million it had anticipated, and that it has processed 11.5 billion yuan ($1.6 billion) in ticket refunds.


Company: cnbc, Activity: cnbc, Date: 2020-02-17  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, stocks, impact, billion, virus, wrote, economic, travel, rest, liquidity, china, yuan, mixed, assess, asia, index, coronavirus, chinese, investors


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Asia stocks set to decline; investors await China’s tariff cuts on some US products

Stocks in Asia were set to trade lower at the open on Friday as concerns around the ongoing coronavirus outbreak continue to weigh on investor sentiment. Futures pointed to a lower open for Japanese stocks. Meanwhile, stocks in Australia were little changed in early trade, with the S&P/ASX 200 hovering around the flatline. China is set to halve tariff rates on certain U.S. products worth about $75 billion with effect later on Friday, as previously announced by Beijing in early February. Investor


Stocks in Asia were set to trade lower at the open on Friday as concerns around the ongoing coronavirus outbreak continue to weigh on investor sentiment.
Futures pointed to a lower open for Japanese stocks.
Meanwhile, stocks in Australia were little changed in early trade, with the S&P/ASX 200 hovering around the flatline.
China is set to halve tariff rates on certain U.S. products worth about $75 billion with effect later on Friday, as previously announced by Beijing in early February.
Investor
Asia stocks set to decline; investors await China’s tariff cuts on some US products Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-14  Authors: eustance huang
Keywords: news, cnbc, companies, await, lower, set, investors, products, chinas, outbreak, trade, cuts, tariff, asia, stocks, nikkei, decline, early, effect, open, coronavirus


Asia stocks set to decline; investors await China's tariff cuts on some US products

Stocks in Asia were set to trade lower at the open on Friday as concerns around the ongoing coronavirus outbreak continue to weigh on investor sentiment.

Futures pointed to a lower open for Japanese stocks. The Nikkei futures contract in Chicago was at 23,720 while its counterpart in Osaka was at 23,730. That compared against the Nikkei 225’s last close at 23,827.73.

Meanwhile, stocks in Australia were little changed in early trade, with the S&P/ASX 200 hovering around the flatline.

China is set to halve tariff rates on certain U.S. products worth about $75 billion with effect later on Friday, as previously announced by Beijing in early February.

Retaliatory tariffs on some U.S. goods will be cut from 10% to 5%, and from 5% to 2.5% on others, according to a statement from China’s Ministry of Finance earlier this month. The adjustments will take effect from 1:01 p.m on Feb. 14, it said, without specifying which time zone it was referring to.

Investors will also continue to watch for developments on the coronavirus outbreak following Thursday’s spike in the number of cases reported after authorities in Hubei changed the way cases are diagnosed.

On the corporate earnings front, Japan’s Toshiba and Singapore’s Singapore Airlines are expected to announce their quarterly results on Friday.


Company: cnbc, Activity: cnbc, Date: 2020-02-14  Authors: eustance huang
Keywords: news, cnbc, companies, await, lower, set, investors, products, chinas, outbreak, trade, cuts, tariff, asia, stocks, nikkei, decline, early, effect, open, coronavirus


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Asia Pacific stocks edge higher as new coronavirus cases in Hubei spike

Stocks in Asia Pacific edged higher on Thursday morning as investors weighed a spike in the number of new coronavirus cases reported in China’s Hubei province due to a tweak in methodology. Mainland Chinese stocks gained in early trade, with the Shanghai composite up 0.15% and the Shenzhen component adding 0.2%. Shares of conglomerate Softbank Group continued to see gains after Wednesday’s surge, gaining 0.71% in morning trade. Shares in Australia were also higher in morning trade, with the S&P/


Stocks in Asia Pacific edged higher on Thursday morning as investors weighed a spike in the number of new coronavirus cases reported in China’s Hubei province due to a tweak in methodology.
Mainland Chinese stocks gained in early trade, with the Shanghai composite up 0.15% and the Shenzhen component adding 0.2%.
Shares of conglomerate Softbank Group continued to see gains after Wednesday’s surge, gaining 0.71% in morning trade.
Shares in Australia were also higher in morning trade, with the S&P/
Asia Pacific stocks edge higher as new coronavirus cases in Hubei spike Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-13  Authors: eustance huang
Keywords: news, cnbc, companies, province, trade, reported, asia, morning, hubei, pacific, cases, watling, higher, index, coronavirus, spike, edge, stocks


Asia Pacific stocks edge higher as new coronavirus cases in Hubei spike

Stocks in Asia Pacific edged higher on Thursday morning as investors weighed a spike in the number of new coronavirus cases reported in China’s Hubei province due to a tweak in methodology.

Mainland Chinese stocks gained in early trade, with the Shanghai composite up 0.15% and the Shenzhen component adding 0.2%. The Shenzhen composite was also 0.152% higher. Hong Kong’s Hang Seng index also advanced 0.16%.

In Japan, the Nikkei 225 hovered above the flatline while the Topix index was 0.34% lower. Shares of conglomerate Softbank Group continued to see gains after Wednesday’s surge, gaining 0.71% in morning trade. The moves came upward despite the firm posting a near wipe out of its quarterly profit.

Meanwhile, South Korea’s Kospi added 0.58%. Shares in Australia were also higher in morning trade, with the S&P/ASX 200 up 0.12%.

Overall, the MSCI Asia ex-Japan index rose 0.21%.

The moves regionally came as China’s Hubei province on Thursday reported a spike in the number of new coronavirus cases, after the province said it started to include “clinically diagnosed” cases in its tally.

“I think the market’s got to grapple with this … new method … of calculating cases,” Chris Watling, CEO of Longview Economics, told CNBC’s “Squawk Box” on Thursday.

“I suspect they might look straight through it once they work out that it doesn’t sound like it’s more cases, it’s just a change in methodology,” Watling said.

Market sentiment had been been positive earlier in the week as the data had been showing an apparent slowdown in the pace of new reported cases, with policymakers in China having announced a series of measures to combat the expected economic slowdown from the virus outbreak.


Company: cnbc, Activity: cnbc, Date: 2020-02-13  Authors: eustance huang
Keywords: news, cnbc, companies, province, trade, reported, asia, morning, hubei, pacific, cases, watling, higher, index, coronavirus, spike, edge, stocks


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Bankers in Asia brace for a virus-related deal drought

(Photo by WANG Zhao / AFP) (Photo credit should readBankers in Asia are bracing for a deal drought as efforts to limit the spread of the coronavirus epidemic have put key meetings and roadshows on hold. Several auctions of assets are facing delays or re-assessments and preparations for potential Chinese initial public offerings (IPOs) are also slowing, bankers said. European and U.S. buyers are also worried about travelling to Asia,” said a Singapore-based banker. Major banks in Hong Kong and Si


(Photo by WANG Zhao / AFP) (Photo credit should readBankers in Asia are bracing for a deal drought as efforts to limit the spread of the coronavirus epidemic have put key meetings and roadshows on hold.
Several auctions of assets are facing delays or re-assessments and preparations for potential Chinese initial public offerings (IPOs) are also slowing, bankers said.
European and U.S. buyers are also worried about travelling to Asia,” said a Singapore-based banker.
Major banks in Hong Kong and Si
Bankers in Asia brace for a virus-related deal drought Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-12
Keywords: news, cnbc, companies, business, kong, chinese, virusrelated, china, sale, declined, deal, hong, bankers, drought, singapore, brace, asia, company


Bankers in Asia brace for a virus-related deal drought

The skyline of the central business district in Beijing on August 13, 2019. (Photo by WANG Zhao / AFP) (Photo credit should read

Bankers in Asia are bracing for a deal drought as efforts to limit the spread of the coronavirus epidemic have put key meetings and roadshows on hold.

Several auctions of assets are facing delays or re-assessments and preparations for potential Chinese initial public offerings (IPOs) are also slowing, bankers said.

“All our deals are on hold now — capital markets or M&A. Nothing is happening,” said a Hong Kong-based senior investment banker with a Wall Street bank.

Baring Private Equity Asia is expected to extend a bidding deadline for the sale of HCP, a Shanghai-based packaging business valued at around $1 billion, said four people with knowledge of the deal.

The Hong Kong-based investment firm sent out teasers before Chinese New Year and was initially expecting bids to come in as soon as this month, they said.

Baring declined to comment and HCP did not respond to a query for comment.

The launch of a sale process of Eu Yan Sang International, a Singapore-based healthcare company specializing in Chinese medicine, is likely to be postponed, said two people aware of the matter. They said the company had hoped to value itself at more than $500 million.

The sale of the company, partly owned by a unit of Singapore state investor Temasek Holdings and with a significant chunk of its business in Hong Kong, is being pushed back as most of its targeted buyers are Chinese, these people said.

Responding to a Reuters query, Eu Yan Sang’s Group CEO Aaron Boey said in a statement late on Tuesday the company did not comment on “rumors”, adding it was focused on “executing our strategies and enhancing shareholder value” during these extremely challenging times.

Temasek declined comment.

“Any China-related deals are off, so that means Q1 is probably washed out. European and U.S. buyers are also worried about travelling to Asia,” said a Singapore-based banker.

Major banks in Hong Kong and Singapore have restricted travel to mainland China and are allowing staff to work from home while moving others to different office locations.

A number of countries have reduced or cancelled flights in and out of China while Singapore and Hong Kong have demanded people returning from China quarantine themselves for up to 14 days.

The virus has claimed more than 1,000 lives and has spread to 24 other countries and territories.

The bankers declined to be identified because the transactions are confidential.


Company: cnbc, Activity: cnbc, Date: 2020-02-12
Keywords: news, cnbc, companies, business, kong, chinese, virusrelated, china, sale, declined, deal, hong, bankers, drought, singapore, brace, asia, company


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Carnival says earnings could take a big hit if it has to halt Asia operations for the coronavirus

Carnival Cruise Lines said Wednesday the deadly Chinese coronavirus could dent earnings this year by as much as 65 cents per share if the cruise line is forced to suspend its operations in Asia. Carnival shares rose more than 2% on Wednesday despite the disclosure as investors have been anticipating a material impact to earnings because of the virus. Carnival previously suspended cruise operations from ports in China and is now cancelling cruises in other parts of Asia. Diamond Princess cruise s


Carnival Cruise Lines said Wednesday the deadly Chinese coronavirus could dent earnings this year by as much as 65 cents per share if the cruise line is forced to suspend its operations in Asia.
Carnival shares rose more than 2% on Wednesday despite the disclosure as investors have been anticipating a material impact to earnings because of the virus.
Carnival previously suspended cruise operations from ports in China and is now cancelling cruises in other parts of Asia.
Diamond Princess cruise s
Carnival says earnings could take a big hit if it has to halt Asia operations for the coronavirus Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-12  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, cruises, big, operations, company, earnings, impact, share, coronavirus, asia, carnival, princess, halt, cruise, hit


Carnival says earnings could take a big hit if it has to halt Asia operations for the coronavirus

Carnival Cruise Lines said Wednesday the deadly Chinese coronavirus could dent earnings this year by as much as 65 cents per share if the cruise line is forced to suspend its operations in Asia.

“While not currently planned, if the company had to suspend all of its operations in Asia through the end of April, this would impact its fiscal 2020 financial performance by $0.55 to $0.65 per share, which includes guest compensation,” the company said in a statement.

Carnival shares rose more than 2% on Wednesday despite the disclosure as investors have been anticipating a material impact to earnings because of the virus. The shares are down 13% this year.

Cruise lines and other travel stocks have been hit hard this year as the deadly coronavirus spreads throughout the globe, infecting more than 45,000 people and killing more than 1,100 people. Carnival previously suspended cruise operations from ports in China and is now cancelling cruises in other parts of Asia.

“As a result of Coronavirus, the company believes the impact on its global bookings and cancelled voyages will have a material impact on its financial results which was not anticipated in the company’s previous 2020 earnings guidance,” Carnival said.

At its last earnings report in December 2019, the company said it expects full year 2020 earnings between $4.30 per share and $4.60 per share.

Carnival reports first quarter earnings at the end of March.

Diamond Princess cruise ships, which is operated by Carnival’s Princess Cruises, confirmed Tuesday 39 new positive cases of the coronavirus on board Diamond Princess, according to the Japanese Ministry of Health. That brings the total to approximately 175, based on the companies updates.

Princess Cruises last week placed 3,700 passengers and crew under a two-week mandatory quarantine after 10 passengers tested positive for the fast-spreading virus.


Company: cnbc, Activity: cnbc, Date: 2020-02-12  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, cruises, big, operations, company, earnings, impact, share, coronavirus, asia, carnival, princess, halt, cruise, hit


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Coronavirus expected to hit Chinese travel, global economy

Even with the 4.7% decline in Chinese travel to the states in the first nine months of 2019 due to trade tensions, the Chinese still remain the third largest source of travel for the country. That’s a loss for big metropolitan cities like New York City, San Francisco, and Los Angeles that have long benefited from the rise in Chinese tourism over the past decade. Coronavirus and the travel restrictions to and from China have drastically changed those expectations, and the implications for global


Even with the 4.7% decline in Chinese travel to the states in the first nine months of 2019 due to trade tensions, the Chinese still remain the third largest source of travel for the country.
That’s a loss for big metropolitan cities like New York City, San Francisco, and Los Angeles that have long benefited from the rise in Chinese tourism over the past decade.
Coronavirus and the travel restrictions to and from China have drastically changed those expectations, and the implications for global
Coronavirus expected to hit Chinese travel, global economy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-07  Authors: seema mody
Keywords: news, cnbc, companies, coronavirus, million, asia, economy, economics, countries, tourists, tourism, chinese, global, demand, expected, travel, hit, china


Coronavirus expected to hit Chinese travel, global economy

Even with the 4.7% decline in Chinese travel to the states in the first nine months of 2019 due to trade tensions, the Chinese still remain the third largest source of travel for the country.

That’s a loss for big metropolitan cities like New York City, San Francisco, and Los Angeles that have long benefited from the rise in Chinese tourism over the past decade.

Oxford Economics is now forecasting that the U.S. will experience a loss of 1.6 million visitors from mainland China this year.

Coronavirus and the travel restrictions to and from China have drastically changed those expectations, and the implications for global economies could be significant.

2020 was supposed to be the year the Chinese traveler returned in full force thanks to an improving trade backdrop and signs of stabilization in the world’s second largest economy.

A volunteer measures a passenger’s body temperature. In light of a coronavirus outbreak in China, Hong Kong district councillors and residents formed makeshift quarantine stations, screening passengers arriving from China, Feb. 4, 2020.

The Chinese are also the biggest spenders, on average shelling out $6,500, compared to the $4,000 spent by other foreign tourists in the U.S.

Without these high-spending Chinese tourists, international governments in South Korea, Japan, and Thailand are bracing for a sharp drop in demand for tours, lodging, food and beverage.

“Visitor numbers from China have seen a massive surge over the past decade or so and now account for the largest number of inbound tourists in most countries across the [Asia] region,” said Alex Holmes, chief economist at Capital Economics, in an interview with CNBC.

In the past two years, emerging economies in Asia have invested in offering customized tours and lodging options for Chinese travelers. Hilton, Marriott and Hyatt have built up new properties to accommodate the surge in demand.

Holmes points to Thailand, which saw 10.5 million Chinese tourists in 2018, a 13-fold increase from 2008. And spending by tourists in Thailand is equivalent to roughly 11% of the country’s GDP.

Other countries in Asia that are highly dependent on tourist spend include Cambodia, Malaysia, Vietnam and Indonesia.

Indonesia warning this morning that it could see a $4 billion hit to its economy this year if the travel restrictions remain in place for the foreseeable future.

“There is clearly a great deal of uncertainty over how things will play out over the coming weeks, but it now looks as though regional growth will slow sharply in the first quarter,” said Holmes.

Economists are betting on central banks in Asia-Pacific to unveil a round of interest rate cuts in the next two quarters to offset the negative impact of the virus, which has already dented business and shutdown major factories across the region.

However, it’s not just in Asia. Benn Steil, senior fellow and director of international economics at the Council on Foreign Relations, told CNBC a rate cut by the Federal Reserve is now in the cards this year.

Next week, earnings from major travel companies Hilton, Expedia and TripAdvisor could provide more clarity on how much occupancy rates and demand for hotels have fallen due to the outbreak.

Oxford Economics is estimated that a reduction in Chinese visitors means that 4 million hotel room nights in the U.S. will be lost in 2020 alone.

Europe’s growth prospects may be challenged, too. The continent has become an increasingly popular destination for Chinese travelers, especially amid fractured U.S.-China relationship in 2018.

In the first half of 2019, Chinese travelers made 3 million visits to European countries, up 7.4% versus the same period a year ago, according to Chinese tourism academy.

“Assuming that there would be a sharp drop in Chinese tourism throughout the entire year, many European economies would see consumption weaken,” said Carsten Brzeski, chief economist at ING to CNBC in an email.

“Obviously, countries like Greece and France would be hit most. This drop in tourism could add to a weakening of domestic demand, adding to existing problems stemming from the manufacturing sector, and in turn delaying the timing of a rebound of the entire Eurozone economy to the second half of the year,” noted Brzeski.

However, some experts see demand bouncing back as soon as the virus is contained and the travel ban is lifted.

“The Chinese I speak with in China are going stir crazy. Once restrictions (are) lifted, floods of Chinese will travel for business and leisure. Non-Chinese may be reluctant to return to China immediately. Depends on what happens over the next several weeks ,” said Stephen Orlins, president of the National Committee on U.S.-China Relations to CNBC.

-CNBC’s Faheimah Al-Ali contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2020-02-07  Authors: seema mody
Keywords: news, cnbc, companies, coronavirus, million, asia, economy, economics, countries, tourists, tourism, chinese, global, demand, expected, travel, hit, china


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European stocks slightly lower, bucking positive trend in Asia

European stocks traded slightly lower on Wednesday, just as their counterparts in Asia rebounded despite the coronavirus outbreak. The pan-European Stoxx 600 slipped 0.1% in early trade, household goods stocks falling 0.7% to lead losses while the tech sector added 0.6%. Investors are trying to weigh the economic impact of the new coronavirus outbreak. Traders will also be reflecting on U.S. President Donald Trump’s State of the Union address Tuesday night. On the data front, final purchasing ma


European stocks traded slightly lower on Wednesday, just as their counterparts in Asia rebounded despite the coronavirus outbreak.
The pan-European Stoxx 600 slipped 0.1% in early trade, household goods stocks falling 0.7% to lead losses while the tech sector added 0.6%.
Investors are trying to weigh the economic impact of the new coronavirus outbreak.
Traders will also be reflecting on U.S. President Donald Trump’s State of the Union address Tuesday night.
On the data front, final purchasing ma
European stocks slightly lower, bucking positive trend in Asia Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-05  Authors: elliot smith holly ellyatt, elliot smith, holly ellyatt
Keywords: news, cnbc, companies, coronavirus, bucking, president, asia, lower, potential, oil, european, outbreak, positive, opec, stocks, night, data, slightly, trend


European stocks slightly lower, bucking positive trend in Asia

European stocks traded slightly lower on Wednesday, just as their counterparts in Asia rebounded despite the coronavirus outbreak.

The pan-European Stoxx 600 slipped 0.1% in early trade, household goods stocks falling 0.7% to lead losses while the tech sector added 0.6%.

Investors are trying to weigh the economic impact of the new coronavirus outbreak. China’s National Health Commission said that as of Tuesday night, a total of 24,324 cases have been confirmed and 490 people have died in the country.

Shares in Asia mostly advanced on Wednesday afternoon, with Chinese mainland shares leading gains in a recovery from a plunge of more than 7% on Monday.

Traders will also be reflecting on U.S. President Donald Trump’s State of the Union address Tuesday night. The address resembled a campaign speech, with the president boasting of his record on jobs and warning against Democratic policy proposals; Republicans led a chant of “four more years” at the start.

In other news, oil prices rose on Wednesday, boosted by OPEC and non-OPEC producers including Russia (an alliance collectively known as OPEC+) discussing potential further output cuts to counteract a potential drop in global oil demand amid the coronavirus outbreak. The OPEC+ committee meets again Wednesday.

On the data front, final purchasing managers’ index (PMI) data from the U.K., Italy, France and the euro zone for January are expected.


Company: cnbc, Activity: cnbc, Date: 2020-02-05  Authors: elliot smith holly ellyatt, elliot smith, holly ellyatt
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Asia set to trade higher, Australia’s ASX 200 jumps 0.85%

Asia Pacific markets looked set to rise on Wednesday, building on gains from the previous session, after stocks sold off due to worries over the new coronavirus outbreak. The yen, considered a safe-haven asset in times of market uncertainties, changed hands at 109.46 per dollar, weakening from levels below 108.80 earlier in the week. Australia’s benchmark ASX 200 rose 0.85% after the first half-hour of trade, with most sectors trading up. The heavily-weighted financial subindex rose 0.66% as maj


Asia Pacific markets looked set to rise on Wednesday, building on gains from the previous session, after stocks sold off due to worries over the new coronavirus outbreak.
The yen, considered a safe-haven asset in times of market uncertainties, changed hands at 109.46 per dollar, weakening from levels below 108.80 earlier in the week.
Australia’s benchmark ASX 200 rose 0.85% after the first half-hour of trade, with most sectors trading up.
The heavily-weighted financial subindex rose 0.66% as maj
Asia set to trade higher, Australia’s ASX 200 jumps 0.85% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-05  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, session, economy, yen, rose, asx, worries, asia, trade, 200, australias, stocks, pacific, coronavirus, wrote, 085, jumps, set, higher


Asia set to trade higher, Australia's ASX 200 jumps 0.85%

Asia Pacific markets looked set to rise on Wednesday, building on gains from the previous session, after stocks sold off due to worries over the new coronavirus outbreak.

Nikkei futures pointed to a higher open in Japan. The yen, considered a safe-haven asset in times of market uncertainties, changed hands at 109.46 per dollar, weakening from levels below 108.80 earlier in the week.

Australia’s benchmark ASX 200 rose 0.85% after the first half-hour of trade, with most sectors trading up. The heavily-weighted financial subindex rose 0.66% as major banking stocks in the country gained.

The session in Asia Pacific follows overnight rallies on Wall Street and in Europe.

“Markets have now embarked on a new rebound, spurred by China’s efforts to support its economy alongside an apparent decline in concerns over the Coronavirus impact on the global economy,” Rodrigo Catril, senior foreign-exchange strategist at the National Australia Bank, wrote in a morning note.


Company: cnbc, Activity: cnbc, Date: 2020-02-05  Authors: saheli roy choudhury
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Asia stocks mixed as Wall Street rebounds amid virus fears

Stocks in Asia traded mixed on Tuesday morning as investors weigh the potential economic impact of the ongoing coronavirus outbreak that has killed hundreds in China so far. Overall, the MSCI Asia ex-Japan index traded 0.07% higher. Investors will await the Reserve Bank of Australia’s interest rate decision, set to be announced around 11:30 a.m. HK/SIN. “An easing bias would not surprise at all with the RBA still well short of their inflation and unemployment goals. Investors will also likely co


Stocks in Asia traded mixed on Tuesday morning as investors weigh the potential economic impact of the ongoing coronavirus outbreak that has killed hundreds in China so far.
Overall, the MSCI Asia ex-Japan index traded 0.07% higher.
Investors will await the Reserve Bank of Australia’s interest rate decision, set to be announced around 11:30 a.m. HK/SIN.
“An easing bias would not surprise at all with the RBA still well short of their inflation and unemployment goals.
Investors will also likely co
Asia stocks mixed as Wall Street rebounds amid virus fears Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-04  Authors: eustance huang
Keywords: news, cnbc, companies, index, traded, street, nab, ongoing, morning, amid, outbreak, asia, mixed, rebounds, impact, potential, rba, economic, wall, fears, virus, stocks


Asia stocks mixed as Wall Street rebounds amid virus fears

Stocks in Asia traded mixed on Tuesday morning as investors weigh the potential economic impact of the ongoing coronavirus outbreak that has killed hundreds in China so far.

In Japan, the Nikkei 225 declined 0.46% while the Topix index shed 0.34%. South Korea’s Kospi, on the other hand, rose 0.29%.

Meanwhile, shares in Australia were little changed in morning trade, with the S&P/ASX 200 up slightly.

Overall, the MSCI Asia ex-Japan index traded 0.07% higher.

Investors will await the Reserve Bank of Australia’s interest rate decision, set to be announced around 11:30 a.m. HK/SIN.

“An easing bias would not surprise at all with the RBA still well short of their inflation and unemployment goals. NAB looks for the RBA to ease at the April Board meeting when the RBA will have had time to review December quarter growth including consumer spending,” David de Garis, a director and senior economist at National Australia Bank (NAB), wrote in a Tuesday note.

Investors will also likely continue to watch for developments on the ongoing virus outbreak that has dented sentiment in recent days as questions remain over its potential economic impact.


Company: cnbc, Activity: cnbc, Date: 2020-02-04  Authors: eustance huang
Keywords: news, cnbc, companies, index, traded, street, nab, ongoing, morning, amid, outbreak, asia, mixed, rebounds, impact, potential, rba, economic, wall, fears, virus, stocks


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Asia stocks set to slip as Fed keeps interest rates on hold

Stocks in Asia were set to slip at the open on Thursday as the U.S. Federal Reserve kept interest rates on hold and investors continued to watch for developments on the ongoing coronavirus outbreak. Futures pointed to a lower open for Japanese stocks. The Nikkei futures contract in Chicago was at 23,280 while its counterpart in Osaka was at 23,290. Meanwhile, stocks in Australia dipped in early trade, with the S&P/ASX 200 about 0.1% lower. Investors will continue to watch for developments on the


Stocks in Asia were set to slip at the open on Thursday as the U.S. Federal Reserve kept interest rates on hold and investors continued to watch for developments on the ongoing coronavirus outbreak.
Futures pointed to a lower open for Japanese stocks.
The Nikkei futures contract in Chicago was at 23,280 while its counterpart in Osaka was at 23,290.
Meanwhile, stocks in Australia dipped in early trade, with the S&P/ASX 200 about 0.1% lower.
Investors will continue to watch for developments on the
Asia stocks set to slip as Fed keeps interest rates on hold Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-30  Authors: eustance huang
Keywords: news, cnbc, companies, watch, china, stocks, hold, ongoing, rates, slip, asia, nikkei, developments, interest, open, taken, set, coronavirus, keeps, fed, trade


Asia stocks set to slip as Fed keeps interest rates on hold

Stocks in Asia were set to slip at the open on Thursday as the U.S. Federal Reserve kept interest rates on hold and investors continued to watch for developments on the ongoing coronavirus outbreak.

Futures pointed to a lower open for Japanese stocks. The Nikkei futures contract in Chicago was at 23,280 while its counterpart in Osaka was at 23,290. That compared against the Nikkei 225’s last close at 23,379.40.

Meanwhile, stocks in Australia dipped in early trade, with the S&P/ASX 200 about 0.1% lower.

Markets in China remain closed on Thursday for a holiday.

Investors will continue to watch for developments on the ongoing coronavirus outbreak that has already taken more than 150 lives in China, according to officials in the country.


Company: cnbc, Activity: cnbc, Date: 2020-01-30  Authors: eustance huang
Keywords: news, cnbc, companies, watch, china, stocks, hold, ongoing, rates, slip, asia, nikkei, developments, interest, open, taken, set, coronavirus, keeps, fed, trade


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