Asia markets mixed as investors worry over US-China trade tensions

Asia Pacific markets traded mixed Friday, as worries over trade tensions between the United States and China weighed on investor sentiment. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.67% in the afternoon. Mainland Chinese markets were mixed: The Shanghai composite closed flat while the Shenzhen composite fell 0.48%. Hong Kong’s Hang Seng index added about 0.4% in late afternoon trade. In Japan, the benchmark Nikkei 225 fell 0.16% to 21,117.22 while the Topix index was


Asia Pacific markets traded mixed Friday, as worries over trade tensions between the United States and China weighed on investor sentiment. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.67% in the afternoon. Mainland Chinese markets were mixed: The Shanghai composite closed flat while the Shenzhen composite fell 0.48%. Hong Kong’s Hang Seng index added about 0.4% in late afternoon trade. In Japan, the benchmark Nikkei 225 fell 0.16% to 21,117.22 while the Topix index was
Asia markets mixed as investors worry over US-China trade tensions Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-24  Authors: weizhen tan saheli roy choudhury, weizhen tan, saheli roy choudhury
Keywords: news, cnbc, companies, tradein, index, weighed, fell, composite, worry, investors, trade, worries, mixed, markets, uschina, united, asia, japan, tensions


Asia markets mixed as investors worry over US-China trade tensions

Asia Pacific markets traded mixed Friday, as worries over trade tensions between the United States and China weighed on investor sentiment.

MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.67% in the afternoon.

Mainland Chinese markets were mixed: The Shanghai composite closed flat while the Shenzhen composite fell 0.48%.

Hong Kong’s Hang Seng index added about 0.4% in late afternoon trade.

In Japan, the benchmark Nikkei 225 fell 0.16% to 21,117.22 while the Topix index was fractionally higher at 1,541.21. South Korea’s Kospi fell 0.69% to 2,045.31.

Australia’s ASX 200 declined 0.55% to 6,456, with the financial subindex down 0.45%.


Company: cnbc, Activity: cnbc, Date: 2019-05-24  Authors: weizhen tan saheli roy choudhury, weizhen tan, saheli roy choudhury
Keywords: news, cnbc, companies, tradein, index, weighed, fell, composite, worry, investors, trade, worries, mixed, markets, uschina, united, asia, japan, tensions


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Stocks in Asia mostly turn around as US-China trade tensions take a breather

Stocks in Asia were mostly higher on Tuesday as a temporary reprieve in U.S.-China trade tensions provided a breather. Mainland Chinese shares rose on the day, with the Shanghai composite gaining 1.23% to 2,905.97 and the Shenzhen component adding 1.92% to 9,087.52. The Shenzhen composite advanced 1.771% to 1,548.68. The Topix index also declined 0.3% to finish its trading day at 1,550.30. The Hang Seng index in Hong Kong declined around 0.5%, as of its final hour of trading.


Stocks in Asia were mostly higher on Tuesday as a temporary reprieve in U.S.-China trade tensions provided a breather. Mainland Chinese shares rose on the day, with the Shanghai composite gaining 1.23% to 2,905.97 and the Shenzhen component adding 1.92% to 9,087.52. The Shenzhen composite advanced 1.771% to 1,548.68. The Topix index also declined 0.3% to finish its trading day at 1,550.30. The Hang Seng index in Hong Kong declined around 0.5%, as of its final hour of trading.
Stocks in Asia mostly turn around as US-China trade tensions take a breather Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-21  Authors: eustance huang
Keywords: news, cnbc, companies, turn, stocks, asia, uschina, trade, shares, tensions, trading, rose, index, higher, declined, day, breather, composite, shenzhen, close


Stocks in Asia mostly turn around as US-China trade tensions take a breather

Stocks in Asia were mostly higher on Tuesday as a temporary reprieve in U.S.-China trade tensions provided a breather.

Mainland Chinese shares rose on the day, with the Shanghai composite gaining 1.23% to 2,905.97 and the Shenzhen component adding 1.92% to 9,087.52. The Shenzhen composite advanced 1.771% to 1,548.68.

Over in South Korea, the Kospi rose 0.27% to close at 2,061.25 as shares of Samsung Electronics surged 2.74% following earlier news of Google suspending business activity with Huawei.

Australia’s ASX 200 was 0.37% higher to close at 6,500.10.

The Australian dollar last changed hands at $0.6877, off highs above $0.696 seen in the previous week. Australia’s central bank will consider the case for lower interest rates at its June policy meeting, Governor Philip Lowe said on Tuesday.

Elsewhere in Asia, however, the Nikkei 225 in Japan lost 0.14% to close at 21,272.45. Shares of Tokyo Electron fell 1.88%. The Topix index also declined 0.3% to finish its trading day at 1,550.30.

The Hang Seng index in Hong Kong declined around 0.5%, as of its final hour of trading.


Company: cnbc, Activity: cnbc, Date: 2019-05-21  Authors: eustance huang
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Asia markets fall amid tariffs fears while Chinese trade data surprises

Asia stocks declined Wednesday as investors digested ongoing developments in the U.S.-China trade negotiations, which sent stateside shares tumbling overnight. Mainland Chinese shares were lower on the day, with the Shanghai composite down 1.12% to about 2,893.76. Chinese trade data for April showed both exports and trade surplus missed expectations while imports surprisingly rose. Customs data showed trade surplus was $13.84 billion, far lower than the $35 billion analysts had expected. Elsewhe


Asia stocks declined Wednesday as investors digested ongoing developments in the U.S.-China trade negotiations, which sent stateside shares tumbling overnight. Mainland Chinese shares were lower on the day, with the Shanghai composite down 1.12% to about 2,893.76. Chinese trade data for April showed both exports and trade surplus missed expectations while imports surprisingly rose. Customs data showed trade surplus was $13.84 billion, far lower than the $35 billion analysts had expected. Elsewhe
Asia markets fall amid tariffs fears while Chinese trade data surprises Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-08  Authors: eustance huang
Keywords: news, cnbc, companies, trade, tariffs, fall, declined, lower, fell, asia, amid, surprises, markets, index, fears, chinese, shenzhen, shares, data, surplus, showed


Asia markets fall amid tariffs fears while Chinese trade data surprises

Asia stocks declined Wednesday as investors digested ongoing developments in the U.S.-China trade negotiations, which sent stateside shares tumbling overnight.

Mainland Chinese shares were lower on the day, with the Shanghai composite down 1.12% to about 2,893.76. The Shenzhen component slid 0.96% to 9,002.53 while the Shenzhen composite declined 0.649% to approximately 1,530.31.

Chinese trade data for April showed both exports and trade surplus missed expectations while imports surprisingly rose. Customs data showed trade surplus was $13.84 billion, far lower than the $35 billion analysts had expected.

April exports fell 2.7 percent from a year ago. They were expected to have risen 2.3 percent from a year earlier, according to economists Reuters polled.

The Hang Seng index in Hong Kong declined around 1.2%, as of its final hour of trading.

Elsewhere in Asia, Japan’s Nikkei 225 dropped 1.46% to close at 21,602.59, with shares of index heavyweight Fanuc declining 2.24%. The Topix index also fell 1.72% to 1,572.33.

In South Korea, the Kospi finished its trading day lower by 0.41% at 2,168.01, with Samsung Electronics shares declining 1.34%.

Australia’s ASX 200 also shed 0.42% to close at 6,269.10, as most sectors slipped. Shares of TPG Telecom plunged 13.53% after the company’s merger with Vodafone was blocked by the Australian Competition and Consumer Commission.

“”From an asset allocation perspective … we think that we are quite defensive right now, waiting for this volatility to pass,” Thomas Poullaouec, head of Asia Pacific multi-asset solutions at T. Rowe Price, told CNBC’s “Street Signs” on Wednesday.


Company: cnbc, Activity: cnbc, Date: 2019-05-08  Authors: eustance huang
Keywords: news, cnbc, companies, trade, tariffs, fall, declined, lower, fell, asia, amid, surprises, markets, index, fears, chinese, shenzhen, shares, data, surplus, showed


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Asia Pacific stocks mixed amid renewed US-China trade uncertainty

Stocks in Asia were mixed on Tuesday amid renewed tensions between the U.S. and China after Washington said tariffs on Chinese goods will rise on Friday. The Chinese markets, which plunged more than 5% on Monday, attempted to stage a recovery during Tuesday’s session. The Shanghai composite rose 0.69% to close at about 2,926.39 and the Shenzhen component added 1.63% to finish its trading day at 9,089.46. The Topix index also declined 1.12% to finish its trading day at 1,599.84. Over in South Kor


Stocks in Asia were mixed on Tuesday amid renewed tensions between the U.S. and China after Washington said tariffs on Chinese goods will rise on Friday. The Chinese markets, which plunged more than 5% on Monday, attempted to stage a recovery during Tuesday’s session. The Shanghai composite rose 0.69% to close at about 2,926.39 and the Shenzhen component added 1.63% to finish its trading day at 9,089.46. The Topix index also declined 1.12% to finish its trading day at 1,599.84. Over in South Kor
Asia Pacific stocks mixed amid renewed US-China trade uncertainty Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-07  Authors: eustance huang
Keywords: news, cnbc, companies, trade, treves, pacific, uncertainty, asia, trading, close, mixed, day, amid, index, whats, markets, rose, stocks, uschina, shenzhen, shares, renewed


Asia Pacific stocks mixed amid renewed US-China trade uncertainty

Stocks in Asia were mixed on Tuesday amid renewed tensions between the U.S. and China after Washington said tariffs on Chinese goods will rise on Friday.

The Chinese markets, which plunged more than 5% on Monday, attempted to stage a recovery during Tuesday’s session. The Shanghai composite rose 0.69% to close at about 2,926.39 and the Shenzhen component added 1.63% to finish its trading day at 9,089.46. The Shenzhen composite advanced 1.617% to close at approximately 1,540.31.

Meanwhile, Hong Kong’s Hang Seng index also added more than 0.3%, as of its final hour of trading, as shares of life insurer AIA gained beyond 1.5%.

The Nikkei 225 in Japan, which returned to the first day of trade following an extended holiday period, slipped 1.51% to close at 21,923.72 as shares of index heavyweight Fanuc dropped more than 3%. The Topix index also declined 1.12% to finish its trading day at 1,599.84.

Over in South Korea, the Kospi fell 0.88% to close at 2,176.99 as shares of Hyundai Motor dropped more than 1%.

Australia’s ASX 200, on the other hand, rose 0.19% to close at 6,295.70.

“I think what’s quite surprising here is just that people are surprised by what’s happened over the last few days,” Alexander Treves, managing director and investment specialist of emerging markets and Asia Pacific equities at J.P. Morgan Asset Management, told CNBC’s “Squawk Box” on Tuesday.

“Given the various people involved, surely an element of disruption was always going to be likely along the way through this process,” Treves said. “Our best guess at the moment is that this is a negotiating ploy.”


Company: cnbc, Activity: cnbc, Date: 2019-05-07  Authors: eustance huang
Keywords: news, cnbc, companies, trade, treves, pacific, uncertainty, asia, trading, close, mixed, day, amid, index, whats, markets, rose, stocks, uschina, shenzhen, shares, renewed


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Massive Saudi wealth fund zeros in on China, plans to open new Asia office

Saudi Arabia’s massive sovereign wealth fund has its eye on China as it expands international investments, though its “No. Now I’m thinking seriously even to accelerate the Asia office because we see a lot of potential over there,” Yasir Othman Al-Rumayyan told CNBC’s Hadley Gamble during the Milken Institute Global Conference in Los Angeles. In fact, a PIF spokesman told CNBC the fund is planning to open a new office in Asia “to focus on China.” I don’t mind growing the 6% if I’m entering now i


Saudi Arabia’s massive sovereign wealth fund has its eye on China as it expands international investments, though its “No. Now I’m thinking seriously even to accelerate the Asia office because we see a lot of potential over there,” Yasir Othman Al-Rumayyan told CNBC’s Hadley Gamble during the Milken Institute Global Conference in Los Angeles. In fact, a PIF spokesman told CNBC the fund is planning to open a new office in Asia “to focus on China.” I don’t mind growing the 6% if I’m entering now i
Massive Saudi wealth fund zeros in on China, plans to open new Asia office Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-01  Authors: natasha turak
Keywords: news, cnbc, companies, wealth, told, massive, zeros, fund, office, im, alrumayyan, saudi, asia, plans, international, open, china, chinese


Massive Saudi wealth fund zeros in on China, plans to open new Asia office

Saudi Arabia’s massive sovereign wealth fund has its eye on China as it expands international investments, though its “No. 1 target” remains the U.S., its managing director told CNBC on Tuesday.

The Saudi Public Investment Fund is one of the Middle East’s largest, with some $300 billion in assets under management and an aim to increase that to $2 trillion by 2030 as it aggressively invests in both domestic and international markets.

“We’re opening up in New York and London, San Francisco. Now I’m thinking seriously even to accelerate the Asia office because we see a lot of potential over there,” Yasir Othman Al-Rumayyan told CNBC’s Hadley Gamble during the Milken Institute Global Conference in Los Angeles.

In fact, a PIF spokesman told CNBC the fund is planning to open a new office in Asia “to focus on China.” That follows Al-Rumayyan, who has served as the fund’s director since 2015, recently visiting Beijing for a forum on China’s Belt and Road Initiative, which culminated in billions of dollars worth of deals to expand the flagship Chinese project that seeks to invest across Asia, Africa and parts of Europe.

“This is the first time for me to go out and meet asset managers, companies, Chinese entrepreneurs, and they are really very impressive,” Al-Rumayyan said, speaking on the topic of China. “The GDP growth now is, I think, at 6.25% which is larger than most of the other countries around the world. But the concern is it came down from 11-plus percent. I don’t mind growing the 6% if I’m entering now in China. The Softbank Vision Fund also deployed big amounts of money in China and some of the Chinese companies. So we are OK in the longer term.”


Company: cnbc, Activity: cnbc, Date: 2019-05-01  Authors: natasha turak
Keywords: news, cnbc, companies, wealth, told, massive, zeros, fund, office, im, alrumayyan, saudi, asia, plans, international, open, china, chinese


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Five of YouTube’s biggest markets in the world are in Asia

Each morning, the “Beyond the Valley” newsletter brings you all the latest from the vast, dynamic world of tech – outside the Silicon Valley. According to Vidyasagar, the first two markets in the world that turned to mobile ahead of desktop consumption of videos were actually Japan and South Korea. “Over the last few years, what we’ve seen in markets like India is truly astounding,” he said. We, last year, saw nearly a very, very high triple digit growth on mobile — on top of that very high volu


Each morning, the “Beyond the Valley” newsletter brings you all the latest from the vast, dynamic world of tech – outside the Silicon Valley. According to Vidyasagar, the first two markets in the world that turned to mobile ahead of desktop consumption of videos were actually Japan and South Korea. “Over the last few years, what we’ve seen in markets like India is truly astounding,” he said. We, last year, saw nearly a very, very high triple digit growth on mobile — on top of that very high volu
Five of YouTube’s biggest markets in the world are in Asia Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, regulatory, mobile, biggest, youtube, markets, nearly, users, tools, india, world, youtubes, tiktok, asia


Five of YouTube's biggest markets in the world are in Asia

By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy .

Each morning, the “Beyond the Valley” newsletter brings you all the latest from the vast, dynamic world of tech – outside the Silicon Valley.

YouTube has more than a billion users worldwide.

According to Vidyasagar, the first two markets in the world that turned to mobile ahead of desktop consumption of videos were actually Japan and South Korea. But others are catching up, he added.

“Over the last few years, what we’ve seen in markets like India is truly astounding,” he said. “India today has nearly 85% of its volume consumed through mobile devices. We, last year, saw nearly a very, very high triple digit growth on mobile — on top of that very high volume.”

The same is true for Southeast Asia, in markets like Thailand and Indonesia, he added.

That said, in recent years, social platforms like YouTube and others have come under regulatory scrutiny to monitor the spread of hate speech, misinformation and other kinds of banned content on their platforms.

In India, for example, a state court ordered the federal government to ban the popular Chinese video sharing app TikTok, saying it was encouraging pornography, Reuters reported. TikTok has been downloaded by nearly 300 million users so far in India, and the ban puts more than 250 jobs at risk, according to the news agency.

To live up to regulatory standards, companies like YouTube and social networking giant Facebook use a variety of tools, including artificial intelligence, to detect the presence of controversial materials on their sites.

Vidyasagar said both YouTube and Google have invested extensively in technologies like machine learning and in people, as well as implemented tools and policies, to meet regulatory standards.

“We need a mix of both machine and human interference to come together here,” he added.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, regulatory, mobile, biggest, youtube, markets, nearly, users, tools, india, world, youtubes, tiktok, asia


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JP Morgan says gains in Asian stocks are ‘already behind us’

Stock markets in Asia have already given investors most of the returns they can get this year — and shares prices in the region may struggle to grow much more for the rest of 2019, J.P. Morgan said on Tuesday. Asian stocks have had a strong start to the year after ending 2018 in negative territory. The MSCI Asia ex-Japan index — a widely followed benchmark for stocks in the region — has grown by around 13.68 percent so far this year. “We’ve been a bit more on the cautious side since … the seco


Stock markets in Asia have already given investors most of the returns they can get this year — and shares prices in the region may struggle to grow much more for the rest of 2019, J.P. Morgan said on Tuesday. Asian stocks have had a strong start to the year after ending 2018 in negative territory. The MSCI Asia ex-Japan index — a widely followed benchmark for stocks in the region — has grown by around 13.68 percent so far this year. “We’ve been a bit more on the cautious side since … the seco
JP Morgan says gains in Asian stocks are ‘already behind us’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: yen nee lee
Keywords: news, cnbc, companies, gains, markets, morgan, region, stocks, asian, jp, investors, index, grow, prices, asia


JP Morgan says gains in Asian stocks are 'already behind us'

Stock markets in Asia have already given investors most of the returns they can get this year — and shares prices in the region may struggle to grow much more for the rest of 2019, J.P. Morgan said on Tuesday.

Asian stocks have had a strong start to the year after ending 2018 in negative territory. The MSCI Asia ex-Japan index — a widely followed benchmark for stocks in the region — has grown by around 13.68 percent so far this year. The index fell by 16.24 percent last year.

“We’ve been a bit more on the cautious side since … the second week of March,” Mixo Das, Asia equity strategist at J.P. Morgan, told CNBC’s “Squawk Box.”

“I think most of the gains for this year in Chinese as well as Asian equity markets are already behind us. From here, it’s going to be more of a difficult slog. We still see gains but it’s going to be a much more volatile process,” he added.

Asked how Asian share prices will likely perform between now till the end of the year, Das responded that they could grow by a low single-digit, or remain largely flat.

He explained that valuations have become stretched compared to projections on where earnings are headed in the coming months. In addition, he said sentiment among investors have become “overextended” and “overheated.”


Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: yen nee lee
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Stocks in Asia advance; BOJ chief flags concerns over trade protectionism

Stocks in Asia were mostly higher on Tuesday, as U.S.-Japan trade talks kicked off and the Bank of Japan chief flagged risks of increasing trade protectionism to the global economic growth outlook. The Nikkei 225 in Japan rose 0.24 percent to close at 22,221.66, with shares of index heavyweights Fast Retailing and Softbank Group advancing 2.32 percent and 1.27 percent, respectively. In Hong Kong, the Hang Seng index added more than 0.8 percent, as of its final hour of trading. Over in South Kore


Stocks in Asia were mostly higher on Tuesday, as U.S.-Japan trade talks kicked off and the Bank of Japan chief flagged risks of increasing trade protectionism to the global economic growth outlook. The Nikkei 225 in Japan rose 0.24 percent to close at 22,221.66, with shares of index heavyweights Fast Retailing and Softbank Group advancing 2.32 percent and 1.27 percent, respectively. In Hong Kong, the Hang Seng index added more than 0.8 percent, as of its final hour of trading. Over in South Kore
Stocks in Asia advance; BOJ chief flags concerns over trade protectionism Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: eustance huang
Keywords: news, cnbc, companies, chief, concerns, flags, stocks, protectionism, shares, respectively, kumho, softbank, sectors, index, trade, jumped, rose, boj, advance, shenzhen, asia


Stocks in Asia advance; BOJ chief flags concerns over trade protectionism

Stocks in Asia were mostly higher on Tuesday, as U.S.-Japan trade talks kicked off and the Bank of Japan chief flagged risks of increasing trade protectionism to the global economic growth outlook.

The Nikkei 225 in Japan rose 0.24 percent to close at 22,221.66, with shares of index heavyweights Fast Retailing and Softbank Group advancing 2.32 percent and 1.27 percent, respectively. The Topix index, however, slipped fractionally to end its trading day at 1,626.46.

Shares of Japanese telcos Softbank Corp and NTT Docomo jumped 3.05 percent and 3.56 percent, respectively, after the latter announced price cuts that were smaller than expected.

Shares in mainland China jumped on the day, with the Shanghai composite gaining 2.39 percent to about 3,253.60 and the Shenzhen component adding about 2.33 percent to around 10,287.64. The Shenzhen composite also advanced 2.095 percent to approximately 1,760.02.

Resilience in the property market would provide some cushion for China’s economy as sectors such as manufacturing and retail are hit by trade war tensions and weak consumer confidence, Reuters reported.

Average new home prices in China rose faster in March as compared to February, according to Reuters’ calculation of data released by the National Bureau of Statistics on Tuesday.

In Hong Kong, the Hang Seng index added more than 0.8 percent, as of its final hour of trading.

Over in South Korea, the Kospi closed 0.26 percent higher at 2,248.63, as shares of Asiana Airlines surged 16.07 percent.

The top shareholder of Asiana Airlines, Kumho Industrial, said on Monday it would sell its entire stake in the debt-ridden carrier to keep it afloat, Reuters reported. That followed weeks of financial uncertainty after the carrier failed to win auditors’ sign-off on its 2018 financial statements, which triggered warnings of credit ratings downgrades, according to the Reuters report. For its part, Kumho Industrial saw its stock jump 6.62 percent.

In Australia, the ASX 200 gained 0.42 percent to close at 6,277.40, as most sectors advanced.


Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: eustance huang
Keywords: news, cnbc, companies, chief, concerns, flags, stocks, protectionism, shares, respectively, kumho, softbank, sectors, index, trade, jumped, rose, boj, advance, shenzhen, asia


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Stocks in Asia mixed amid hopes of progress in US-China trade

Overnight on Wall Street, stocks finished the trading day stateside close to the flatline. The Dow Jones Industrial Average shed 14.11 points to 26,143.05 and the S&P 500 posted a marginal gain at 2,888.32. “We are hopeful we can do this quickly, but we are not going to set an arbitrary deadline,” Mnuchin added. Meanwhile, U.S. Federal Reserve Vice Chairman Richard Clarida told CNBC on Thursday that officials at the central bank see no necessity to move interest rates in either direction at pres


Overnight on Wall Street, stocks finished the trading day stateside close to the flatline. The Dow Jones Industrial Average shed 14.11 points to 26,143.05 and the S&P 500 posted a marginal gain at 2,888.32. “We are hopeful we can do this quickly, but we are not going to set an arbitrary deadline,” Mnuchin added. Meanwhile, U.S. Federal Reserve Vice Chairman Richard Clarida told CNBC on Thursday that officials at the central bank see no necessity to move interest rates in either direction at pres
Stocks in Asia mixed amid hopes of progress in US-China trade Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-12  Authors: eustance huang
Keywords: news, cnbc, companies, dollar, progress, hopes, trade, amid, wall, street, mixed, report, rate, open, told, asia, stocks, trading, uschina, deal


Stocks in Asia mixed amid hopes of progress in US-China trade

Overnight on Wall Street, stocks finished the trading day stateside close to the flatline. The Dow Jones Industrial Average shed 14.11 points to 26,143.05 and the S&P 500 posted a marginal gain at 2,888.32. The Nasdaq Composite declined 0.2 percent to 7,947.36.

The Wall Street Journal reported Thursday that China agreed to open its cloud-computing sector to foreign companies in an attempt to sweeten a deal with the U.S.

That report followed Treasury Secretary Steven Mnuchin telling CNBC on Wednesday that Washington and Beijing have “pretty much agreed on an enforcement mechanism” for when a deal is struck.The two economic powerhouses have been attempting to strike a deal amid a protracted trade fight.

“We are hopeful we can do this quickly, but we are not going to set an arbitrary deadline,” Mnuchin added. “If we can complete this agreement, this will be the most significant changes to the economic relationship between the U.S. and China in really the last 40 years.”

Meanwhile, U.S. Federal Reserve Vice Chairman Richard Clarida told CNBC on Thursday that officials at the central bank see no necessity to move interest rates in either direction at present.

“One of the virtues of having the ability to be patient is that you just let the data come in,” he told CNBC on Thursday. “We don’t see a need now for a move in either direction.”

Clarida’s comments came a day after the FOMC released minutes from its March meeting, at which the Fed adjusted its forecast to no rate moves this year. The minutes reflected a central bank that will watch the data closely this year, with some members leaving open the chance of a rate hike if conditions continue to improve.

The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 97.144 after rising from levels below 97.0 yesterday.

The Japanese yen traded at 111.66 against the dollar after weakening from highs below 111.0 in the previous session. The Australian dollar changed hands at $0.7116 following a slip from the $0.717 handle yesterday.

Oil prices rose in the morning of Asian trading hours, with the international benchmark Brent crude futures adding 0.2 percent to $70.97 per barrel and U.S. crude futures gaining 0.27 percent to $63.75 per barrel.

— CNBC’s Fred Imbert and Jeff Cox contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-04-12  Authors: eustance huang
Keywords: news, cnbc, companies, dollar, progress, hopes, trade, amid, wall, street, mixed, report, rate, open, told, asia, stocks, trading, uschina, deal


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The next big businesses will focus on these two tech trends, says investor behind Alibaba and Grab

Want to come up with the next big thing? Look no further than mobile phones and 5G technology — the next generation of wireless internet connectivity. That’s according to investing icon Jenny Lee, who says the fast-evolving technologies will be central to the leading businesses of the future. “I would say there are a couple of innings,” Lee said when asked recently where she sees the next big start-up opportunities. Meanwhile, in more technologically advanced countries like the U.S. and China, t


Want to come up with the next big thing? Look no further than mobile phones and 5G technology — the next generation of wireless internet connectivity. That’s according to investing icon Jenny Lee, who says the fast-evolving technologies will be central to the leading businesses of the future. “I would say there are a couple of innings,” Lee said when asked recently where she sees the next big start-up opportunities. Meanwhile, in more technologically advanced countries like the U.S. and China, t
The next big businesses will focus on these two tech trends, says investor behind Alibaba and Grab Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: karen gilchrist, bloomberg, getty images
Keywords: news, cnbc, companies, thing, users, wireless, businesses, lee, focus, tech, grab, trends, india, big, alibaba, 5g, mobile, asia, investor


The next big businesses will focus on these two tech trends, says investor behind Alibaba and Grab

Want to come up with the next big thing? Look no further than mobile phones and 5G technology — the next generation of wireless internet connectivity.

That’s according to investing icon Jenny Lee, who says the fast-evolving technologies will be central to the leading businesses of the future.

“I would say there are a couple of innings,” Lee said when asked recently where she sees the next big start-up opportunities.

First, there are huge opportunities for businesses to embrace the rapid mobile adoption in growing markets like India, Southeast Asia and Latin America, Lee said at finance conference Money 2020 Asia in Singapore last month.

In India alone — a country of 1.3 billion people — the number of smartphone users is set to double to 829 million by 2022.

Meanwhile, in more technologically advanced countries like the U.S. and China, there is major scope for companies to capitalize on 5G, Lee noted.


Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: karen gilchrist, bloomberg, getty images
Keywords: news, cnbc, companies, thing, users, wireless, businesses, lee, focus, tech, grab, trends, india, big, alibaba, 5g, mobile, asia, investor


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