Major markets in Asia rebound after report Trump may announce Huawei concessions

The Topix index finished its trading day little changed at 1,581.42. Australia’s S&P/ASX 200 ended its trading day largely flat at 6,547.10. A South China Morning Post report on Thursday morning in Asia said the two sides made no progress in deputy-level negotiations this week. The trade negotiations between Washington and Beijing this week were highly anticipated. A 15% tariff on an additional $160 billion worth of Chinese imports is also expected to kick in on December 15.


The Topix index finished its trading day little changed at 1,581.42. Australia’s S&P/ASX 200 ended its trading day largely flat at 6,547.10. A South China Morning Post report on Thursday morning in Asia said the two sides made no progress in deputy-level negotiations this week. The trade negotiations between Washington and Beijing this week were highly anticipated. A 15% tariff on an additional $160 billion worth of Chinese imports is also expected to kick in on December 15.
Major markets in Asia rebound after report Trump may announce Huawei concessions Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: eustance huang
Keywords: news, cnbc, companies, trade, chinese, futures, trump, told, asia, huawei, announce, negotiations, trading, report, day, markets, concessions, major, worth, rebound


Major markets in Asia rebound after report Trump may announce Huawei concessions

Major Asian stock markets recovered from earlier lows to close higher on Thursday as investors watched for developments on the U.S.-China trade front ahead of high-level negotiations between the two economic powerhouses. Mainland Chinese stocks rose on the day, with the Shanghai composite up 0.78% to around 2,947.71 and the Shenzhen component gaining 1.38% to 9,638.10. The Shenzhen composite also advanced 1.413% to approximately 1,631.84. The New York Times reported Wednesday evening stateside that U.S. President Donald Trump’s administration is set to grant licenses that would allow American firms to sell nonsensitive supplies to Huawei. Earlier this year, the White House banned sales to the Chinese telecommunications giant, citing national security concerns. The ban was subsequently delayed by the administration to allow American firms to make other arrangements. Meanwhile, Hong Kong’s Hang Seng index was about 0.3% higher, as of its final hour of trading. Elsewhere, the Nikkei 225 in Japan rose 0.45% to close at 21,551.98. The Topix index finished its trading day little changed at 1,581.42. Core machinery orders in the country fell for the second consecutive month in August, according to Cabinet Office data on Thursday. In South Korea, however, the Kospi shed 0.88% to close at 2,028.15 as shares of automaker Hyundai Motor fell 2.32%. Australia’s S&P/ASX 200 ended its trading day largely flat at 6,547.10. Overall, the MSCI Asia ex-Japan index was 0.18% higher. Markets in Taiwan were closed on Thursday for a holiday.

US-China trade talks

Investors are monitoring chatter on U.S.-China trade talks, which are set to begin Thursday stateside amid a series of rapid developments. A South China Morning Post report on Thursday morning in Asia said the two sides made no progress in deputy-level negotiations this week. In discussions that were held earlier in the week, China refused to discuss the issue of forced technology transfers, the report said. The SCMP report also said that high-level trade negotiations including Chinese Vice Premier Liu He would be cut to one day now, with the delegation from Beijing set to leave Washington on Thursday instead of Friday as originally planned. For its part, a White House spokesperson told CNBC’s Kayla Tausche: “We are not aware of a change in the Vice Premier’s travels plans at this time.” A senior administration official also told Tausche that Liu is still scheduled to depart on Friday evening. The trade negotiations between Washington and Beijing this week were highly anticipated. The two largest economies have struggled to reach a deal to end their trade war that has now lasted for more than a year. Washington and Beijing have slapped tariffs on billions of dollars worth of each other’s goods. “As of right now, [Pres. Trump] has not made up his mind because he does not know what they’re going to offer,” a senior official said. A principal in the negotiations later told CNBC, however, that Friday’s session is now an “open question.” Bloomberg News also reported overnight that the U.S was considering an agreement to suspend next week’s tariff increase in exchange for a currency pact. The U.S. previously announced it will increase duties on $250 billion worth of Chinese goods from 25% to 30% on October 15. A 15% tariff on an additional $160 billion worth of Chinese imports is also expected to kick in on December 15. “The prize for some sort of trade deal today — no matter how trivial — will be to avoid the implementation of further tariffs,” Robert Carnell, chief economist and head of research for Asia Pacific at ING, wrote in a note. “I think that a ‘nothing achieved’ outcome from today’s talks would return markets to a risk-off mode fairly quickly,” Carnell said. One political science expert told CNBC on Thursday that he was “quite pessimistic about a quick resolution” being reached from the negotiations. “What happens is that there is sort of a truce in the trade talks,” Pushan Dutt, professor of economics and political science at INSEAD, told CNBC on Thursday. “Markets get lulled into expecting that … good things will happen, then along comes a tweet or a tirade and then we’re back int his position of escalating tariffs and tit-for-tat tariffs.”

Asia-Pacific Market Indexes Chart

U.S. stock futures saw wild trading following the SCMP report, with Dow Jones Industrial Average futures plunging more than 300 points at one point. They later saw a recovery from those lows as more developments emerged. As of 2:52 a.m. ET Thursday, futures pointed to an opening decline of 22.01 points for the Dow. S&P 500 and Nasdaq-100 futures also pointed to slight declines for the two indexes at Thursday’s open on Wall Street.

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Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: eustance huang
Keywords: news, cnbc, companies, trade, chinese, futures, trump, told, asia, huawei, announce, negotiations, trading, report, day, markets, concessions, major, worth, rebound


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Stocks in Asia decline amid US-China trade uncertainty

Stocks in Asia traded lower Wednesday afternoon amid growing uncertainty over the high-level trade negotiations between the U.S. and China due to commence later this week. Mainland Chinese stocks declined by the afternoon, with the Shanghai composite down 0.14% and Shenzhen component declining 0.54%. U.S. President Donald Trump has said the increase in duties will kick in if no progress is made in bilateral trade negotiations. “It is clear from just the events of today and recent days that the t


Stocks in Asia traded lower Wednesday afternoon amid growing uncertainty over the high-level trade negotiations between the U.S. and China due to commence later this week. Mainland Chinese stocks declined by the afternoon, with the Shanghai composite down 0.14% and Shenzhen component declining 0.54%. U.S. President Donald Trump has said the increase in duties will kick in if no progress is made in bilateral trade negotiations. “It is clear from just the events of today and recent days that the t
Stocks in Asia decline amid US-China trade uncertainty Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: eustance huang
Keywords: news, cnbc, companies, chinese, decline, uschina, washington, stocks, asia, negotiations, shares, tech, dropped, tariffs, uncertainty, amid, trade


Stocks in Asia decline amid US-China trade uncertainty

Stocks in Asia traded lower Wednesday afternoon amid growing uncertainty over the high-level trade negotiations between the U.S. and China due to commence later this week. Mainland Chinese stocks declined by the afternoon, with the Shanghai composite down 0.14% and Shenzhen component declining 0.54%. The Shenzhen composite also slipped 0.347%. Hong Kong’s Hang Seng index shed 0.68% as shares of Chinese tech behemoth Tencent dropped 1.24%. The Nikkei 225 in Japan slipped 0.64% while the Topix index shed 0.42%. In Australia, the S&P/ASX 200 declined 0.7% as most of the sectors traded lower. Overall, the MSCI Asia ex-Japan index shed 0.57%. Markets in South Korea are closed on Wednesday for a holiday.

Apple suppliers fall

Shares of Apple suppliers in Asia largely declined following criticism from Chinese state media on the U.S. tech giant’s decision to allow an app on its app store used by protestors in Hong Kong. The app in question, HKmap.live, tracks the movement of police around the city. In Japan, shares of Sharp dropped 2.63% while Murata Manufacturing rose 0.11%. Sunny Optical shares in Hong Kong plunged 3% as AAC Tech also fell 3.26%. Contract manufacturer Pegatron’s stock fell 1.27%, as did shares of Taiwan Semiconductor Manufacturing Company, which was down 1.22%. iPhone assembler Hon Hai Precision Industry, better known as Foxconn, also dropped 0.81%. Shares of China-based Luxshare and GoerTek fell 5.08% and 4.09%, respectively. Both companies assemble Apple’s AirPods.

US-China tensions

Investors watch for market reaction to overnight developments in U.S.-China tensions. Washington expanded its trade blacklist to include some of China’s top artificial intelligence firms on Monday, in response to Beijing’s alleged treatment of predominantly Muslim ethnic minorities. For its part, China’s Ministry of Commerce said the U.S. should “stop interfering” in the country’s internal affairs and “remove” the relevant entities from the list “as soon as possible.” Those latest developments cloud the outlook for the upcoming U.S.-China trade negotiations, set to kick off on Thursday amid the looming prospect of more tariffs from Washington on goods from Beijing. The White House has scheduled an increase in U.S. tariffs on $250 billion worth of Chinese goods to 30% from 25% on Oct. 15. U.S. President Donald Trump has said the increase in duties will kick in if no progress is made in bilateral trade negotiations. “It is clear from just the events of today and recent days that the trade negotiations with China are definitely not getting any closer to resolution. If anything, they’re getting further away,” Carl Tannenbaum, chief economist at Northern Trust, told CNBC’s “Squawk Box” on Wednesday. “The two sides — even though there are still negotiations scheduled for Thursday of this week in Washington — seem to be taking steps on both sides to distance themselves from one another,” Tannenbaum added. “In that context, the trade headwind that the economy has been facing around the world is certainly going to remain there if not intensify.” The protracted trade fight between the U.S. and China has already lasted for more than a year, with both parties slapping tariffs on billions of dollars worth of each other’s goods, denting investor sentiment and raising fears over the outlook for the global economy.

Asia-Pacific Market Indexes Chart

Overnight on Wall Street, stocks tumbled amid the dented hopes for a U.S.-China trade deal. The Dow Jones Industrial Average plunged 313.98 points to close at 26,164.04 while the S&P 500 slipped 1.6% to end its trading day stateside 2,893.06. The Nasdaq Composite dropped 1.7% to close at 7,823.78.

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Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: eustance huang
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What’s happening at the NBA is a ‘nightmare’ for US firms: IMA Asia

What’s happening at the NBA is a ‘nightmare’ for US firms: IMA Asia2 Hours AgoRichard Martin of IMA Asia says U.S. firms operating in China need to keep up the appearance of being a “strong player on the national team” of both America and China at the same time.


What’s happening at the NBA is a ‘nightmare’ for US firms: IMA Asia2 Hours AgoRichard Martin of IMA Asia says U.S. firms operating in China need to keep up the appearance of being a “strong player on the national team” of both America and China at the same time.
What’s happening at the NBA is a ‘nightmare’ for US firms: IMA Asia Cached Page below :
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What's happening at the NBA is a 'nightmare' for US firms: IMA Asia

What’s happening at the NBA is a ‘nightmare’ for US firms: IMA Asia

2 Hours Ago

Richard Martin of IMA Asia says U.S. firms operating in China need to keep up the appearance of being a “strong player on the national team” of both America and China at the same time.


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Asia markets advance ahead of high-level trade talks between US and China

The Nikkei 225 in Japan rose 1.03% while the Topix index added 0.82%. South Korea’s Kospi index was up 1.03% as Samsung shares gained 1.05%. US-China trade talks”Investors are very focused on the US-China trade talks and ongoing Brexit discussions in what is generally a quiet week for data,” Rahul Khare from ANZ Research said in a morning note. High-level trade talks between the world’s two largest economies are due to start on Thursday, but reports said Chinese officials appear to be growing he


The Nikkei 225 in Japan rose 1.03% while the Topix index added 0.82%. South Korea’s Kospi index was up 1.03% as Samsung shares gained 1.05%. US-China trade talks”Investors are very focused on the US-China trade talks and ongoing Brexit discussions in what is generally a quiet week for data,” Rahul Khare from ANZ Research said in a morning note. High-level trade talks between the world’s two largest economies are due to start on Thursday, but reports said Chinese officials appear to be growing he
Asia markets advance ahead of high-level trade talks between US and China Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-08  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, gained, index, chinese, technology, trade, markets, ahead, advance, asia, uschina, shares, talks, china, added, highlevel, tariffs


Asia markets advance ahead of high-level trade talks between US and China

A pedestrian looks at an electronic stock board outside a securities firm in Tokyo, Japan, on Tuesday, Dec. 25, 2018. Shoko Takayasu | Bloomberg | Getty Images

Asia markets gained on Tuesday, with major indexes in Japan, South Korea, China and Hong Kong trading higher. The Nikkei 225 in Japan rose 1.03% while the Topix index added 0.82%. South Korea’s Kospi index was up 1.03% as Samsung shares gained 1.05%. The tech giant announced third-quarter guidance, saying its operating profit for the three months that ended in September is expected to more than halve from a year ago, but it is set to beat analysts’ expectations. Chinese markets returned to trade following a week-long public holiday: The Shanghai composite rose 0.54%, the Shenzhen composite added 0.85% and the Shenzhen component index was up 1.17%. In Hong Kong, the Hang Seng index rose 0.98%. Australia’s benchmark ASX 200 notched a 0.5% gain, with most sectors advancing. The country’s so-called Big Four banks gained as shares of National Australia Bank were up 0.82%, Commonwealth Bank gained 0.63% and Westpac shares retraced losses to trade up 0.23%. The session in Asia follows a muted performance on Wall Street overnight where stocks dipped slightly.

US-China trade talks

“Investors are very focused on the US-China trade talks and ongoing Brexit discussions in what is generally a quiet week for data,” Rahul Khare from ANZ Research said in a morning note. “The market continues to debate the degree of easing required from the Fed following the recent fall in unemployment but weakening activity indicators.” High-level trade talks between the world’s two largest economies are due to start on Thursday, but reports said Chinese officials appear to be growing hesitant to pursue a broad trade deal with the United States. Deputy trade negotiators from both sides also began a new round of talks on Monday aimed at ending the prolonged trade war, where Washington and Beijing have imposed tariffs on billions of dollars worth of each other’s imports. But, new developments this week may potentially complicate the negotiations: The U.S. Commerce Department on Monday added 28 Chinese firms and public security bureaus to the so-called Entity List, a blacklist restricting their ability to do business with American companies. Many of those names added include Chinese tech companies such as SenseTime Group, video surveillance firms Hangzhou Hikvision and Shenzhen-listed Zhejiang Dahua Technology, and IFLYTEK. Zhejiang Dahua Technology shares were halted from trade pending announcement, Reuters reported, while IFLYTEK shares fell 1.66%. The growing dimensions of the U.S.-China disputes, which include security issues — such as Huawei and 5G technology — and trade, “set the stage for a prolonged conflict,” Vishnu Varathan, head of economics and strategy at Mizuho Bank, wrote in a morning note. “The means (and presumable) motives for acrimony in US-China relations are outpacing the options and ability to find solutions/compromises to arrive at a deal.”

Asia-Pacific Market Indexes Chart

Analysts at J.P. Morgan said in a note they expect four possible scenarios could emerge from the trade negotiations. First, an “ice-breaking meeting that will lead to a major deal” in the coming months; second, a “mini-deal” focusing on China’s purchase of U.S. products and some structural reforms while new tariffs get postponed indefinitely; third, a no-deal status quo where new tariffs come into play, but negotiations continue; and, finally, a break-up scenario, where there’s no deal and no further dialogue between the U.S. and China. J.P. Morgan analysts said they are expecting a no-deal status quo while “market investors also have high hopes for a mini-deal.” American tariffs on $250 billion worth of Chinese goods are scheduled to rise to 30% on Oct. 15.

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Company: cnbc, Activity: cnbc, Date: 2019-10-08  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, gained, index, chinese, technology, trade, markets, ahead, advance, asia, uschina, shares, talks, china, added, highlevel, tariffs


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Budweiser wants to take on China, the world’s largest beer market where local brews rule

But in China — where premium beers are popular — AB InBev is in third position with a 16% market share, according to Euromonitor. China’s brewsChina is the world’s largest beer market by sales but firms have found it challenging amid fierce competition between local brewers and global beer giants. China Resources Beer has more than 25% market share in the Chinese market, according to Reuters. While the local Chinese brewers have a strong presence in the regional share market, the beer market in


But in China — where premium beers are popular — AB InBev is in third position with a 16% market share, according to Euromonitor. China’s brewsChina is the world’s largest beer market by sales but firms have found it challenging amid fierce competition between local brewers and global beer giants. China Resources Beer has more than 25% market share in the Chinese market, according to Reuters. While the local Chinese brewers have a strong presence in the regional share market, the beer market in
Budweiser wants to take on China, the world’s largest beer market where local brews rule Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-07  Authors: weizhen tan
Keywords: news, cnbc, companies, brews, inbev, company, china, market, largest, wants, beer, asia, local, budweiser, players, rule, worlds, share


Budweiser wants to take on China, the world's largest beer market where local brews rule

Budweiser beer products manufactured by Anheuser-Busch InBev NV sit on display during a news conference in Hong Kong, China, on Thursday, July 4, 2019. Kyle Lam | Bloomberg | Getty Images

The world’s largest brewer is making a big push for China and other parts of Asia — but it could prove challenging for Anheuser-Busch InBev to topple local beers that have long dominated their home markets. After listing its Budweiser APAC in Hong Kong last week, AB InBev said it will be looking to expand in Asia, especially in China, South Korea, India and Vietnam. But in China — where premium beers are popular — AB InBev is in third position with a 16% market share, according to Euromonitor. Across Southeast Asia, the company is not even in the top ten places. “Local Chinese beer companies have very strong control on the local regional share market so it remains to be seen what Budweiser’s strategy (is) going forward from here,” Bank of Communications International’s chief strategist, Hao Hong told CNBC. Analysts say big players have already been buying up smaller beer companies in Asia, and that could be one of the strategies for AB InBev. However, local beers still dominate in Asia.

China’s brews

China is the world’s largest beer market by sales but firms have found it challenging amid fierce competition between local brewers and global beer giants. China Resources Beer has more than 25% market share in the Chinese market, according to Reuters. Its vastly popular Snow beer is the top-selling beer in the world by volume. The company is the largest local brewer by market value, followed by Tsingtao Brewery and Chongqing Brewery, Refinitiv data shows. While the local Chinese brewers have a strong presence in the regional share market, the beer market in China is still largely fragmented, Hong said. He added that China’s tipple of choice is still the baijiu, a traditional drink made from fermented grain that holds sway in the country. “The segment that is really doing well is the baijiu … so it remains to be seen how much further growth the company can get from the Chinese market,” he said, referring to Budweiser APAC. About half of all beer consumed across the globe are sold by AB InBev, Heineken, Carlsberg and China’s Snow. In addition to Budweiser, AB InBev also owns other popular beers such as Stella Artois, Corona and Hoegaarden.

Southeast Asia beer deals

Southeast Asia could prove to have better prospects, as it is projected to be a key driver for growth, according to research analyst at Euromonitor, Jarred Neubronner. Key markets would be Vietnam and Philippines, he added. “(AB InBev) is still not among the top 10 players in the Southeast Asian region in 2018 due to the dominance of local beer players,” he said. “In order to grow further, the company needs to make a breakthrough in Southeast Asia countries such as Vietnam and Philippines.” Some players have already done so by acquiring domestic brands in some of those markets.

Employees arrange bottles of Moutai baijiu at the Kweichow Moutai factory in the town of Maotai in Renhuai, Guizhou province, China, Dec. 14, 2017. Qilai Shen | Bloomberg | Getty Images

Thai Beverage, for instance, bought over Vietnam’s largest beer company Sabeco (Saigon Beer Alcohol Beverage Corp) in a $4.8 billion deal in 2017. “(That) immediately catapulted Thai Beverage to become the number one beer player by volume in Southeast Asia,” said Neubronner. Across Asia-Pacific, the company, which is listed in Singapore, ranked sixth in 2018 in terms of market share at 3.9%, according to Euromonitor. “Many leading beer players in Southeast Asia are local players with strong local knowledge and distribution networks, so acquisitions of local beer companies is possible if AB InBev wishes to increase its market share in the region and tap on the expertise from established local players,” Neubronner said. In China, Heineken took a 40% stake in China Resources Beer last year, in a challenge to AB InBev place in the premium lager market there. However, beer might be losing ground to spirits, wine and other alcoholic beverages. Beer consumption in China is set to drop almost one billion liters by 2023, as consumers switch to other alcoholic beverages such as spirits, according to Euromonitor.

Cheers to alcohol stocks

Demand for alcohol-related stocks in Asia has been strong, according to KraneShares Chief Investment Officer Brendan Ahern, whose firm operates 16 China-focused ETFs with $2.5 billion assets under management. Commenting on the Budweiser IPO, he said: “Alcohol stocks have been a favored sector for Asia investors of late, which the company is tapping into.”


Company: cnbc, Activity: cnbc, Date: 2019-10-07  Authors: weizhen tan
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Asia markets mixed ahead of this week’s US-China trade talks

Asia markets were mixed on Monday as investors awaited a fresh round of U.S.-China trade negotiations expected to begin later this week. Markets in Hong Kong and China were closed Monday for holidays. Ahead of this week’s trade talks between the world’s two largest economies, there were reports that Chinese officials are growing hesitant to pursue a broad trade deal with the U.S.US-China trade talks to resumePrincipal-level trade negotiations between the United States and China are set to begin


Asia markets were mixed on Monday as investors awaited a fresh round of U.S.-China trade negotiations expected to begin later this week. Markets in Hong Kong and China were closed Monday for holidays. Ahead of this week’s trade talks between the world’s two largest economies, there were reports that Chinese officials are growing hesitant to pursue a broad trade deal with the U.S.US-China trade talks to resumePrincipal-level trade negotiations between the United States and China are set to begin
Asia markets mixed ahead of this week’s US-China trade talks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-07  Authors: eustance huang
Keywords: news, cnbc, companies, rate, uschina, data, ahead, trade, china, market, talks, deal, mixed, asia, weeks, closed, tariff, markets, nonfarm


Asia markets mixed ahead of this week's US-China trade talks

Asia markets were mixed on Monday as investors awaited a fresh round of U.S.-China trade negotiations expected to begin later this week. Japan’s Nikkei 225 closed 0.16% lower at 21,375.25. Shares of index heavyweight Fast Retailing, the company behind the Uniqlo chain of apparel stores, slipped 0.74%. The Topix index finished its trading day largely flat at 1,572.75. South Korea’s Kospi closed fractionally higher at 2,021.73, with shares of Hyundai Motor gaining 1.19%. In Australia, the S&P/ASX 200 advanced 0.71% to end its trading day at 6,563.60, as parts of the country were closed for the Labour Day holiday. Overall, the MSCI Asia ex-Japan index rose 0.16%. Markets in Hong Kong and China were closed Monday for holidays. Ahead of this week’s trade talks between the world’s two largest economies, there were reports that Chinese officials are growing hesitant to pursue a broad trade deal with the U.S.

US-China trade talks to resume

Principal-level trade negotiations between the United States and China are set to begin on Thursday in Washington. Trade tensions have risen recently after reports said U.S. President Donald Trump’s administration is deliberating ways to limit American investors’ portfolio flows into China, which includes delisting Chinese companies from U.S. stock exchanges. The outcome from this week’s trade discussions “will likely be pivotal in determining if the two sides can reach an interim trade deal that postpones further tariff escalation,” analysts at Eurasia Group wrote in a note last week. They said there is a 40% probability to an interim deal, and a 60% chance that Trump at least postpones further tariff hikes. Tariffs on $250 billion worth of Chinese goods are scheduled to rise to 30% on Oct. 15. Both countries have slapped tariffs on billions of dollars worth of each other’s goods, which has roiled global markets, created uncertainty and dampened economic growth outlooks around the world. “An interim deal at a minimum would include an agreement by Trump to delay further tariff increases and approve a subset of pending licenses for US suppliers to Huawei in exchange for China stepping up purchases of US agricultural products,” the Eurasia Group analysts added. Still, Javelin Wealth Management CEO Stephen Davies told CNBC’s “Street Signs” on Monday: “I think people are getting a little bit shell-shocked by the fact that every time we seem to be getting close to one there’s something else that … causes discussions to be pulled back.” “I think it’s now a question of waiting to see the detail and some actual movement rather than speculating on whether or not we’re gonna get it,” Davies said

Asia-Pacific Market Indexes Chart

US nonfarm payrolls

Markets in Asia had a muted reaction to the U.S. nonfarm payrolls data released last Friday. Unemployment stateside touched a fresh 50-year low in September, though the nonfarm payrolls rose by 136,000 — below the 145,000 jobs economists had predicted in Dow Jones survey. “The US labour data helped remove some of the gloom around the US economy, as the report suggested that recent manufacturing sector woes were not spreading into the broader economy just yet,” Adelaide Timbrell from ANZ Research wrote in a Monday morning note. “Instead, September’s labour market data suggests that despite the softening suggested by business surveys, underlying economic momentum in the US remains strong,” Timbrell added. Expectations for a rate cut by the U.S. Federal Reserve have risen in recent days since last week’s disappointing U.S. manufacturing data which showed a contraction in the sector. “We are actually expecting two more Fed rate cuts by the end of this year,” Rohit Garg, foreign exchange and rates strategist at Bank of America Merrill Lynch, told CNBC on Monday. “If the market pricing of rate cuts do increase, it will definitely have a negative impact on the dollar.” Market expectation for a rate cut by the Fed at its upcoming October meeting was last at about 80%, according to the CME Group’s FedWatch tool.

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Company: cnbc, Activity: cnbc, Date: 2019-10-07  Authors: eustance huang
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Asia stocks decline amid renewed slowdown fears

Stocks in Asia slipped on Wednesday amid renewed fears of a global economic slowdown. Hong Kong’s Hang Seng index declined fractionally in afternoon trade, as shares of Chinese tech behemoth Tencent slipped 1.39%. Elsewhere, Japan’s Nikkei 225 shed 0.49% to close at 21,778.61 as shares of index heavyweights Softbank Group and Fanuc dropped 2.67% and 2.22%, respectively. The moves across the region came ahead of Hong Kong retail sales data for August, set to be released on Wednesday. “There is a


Stocks in Asia slipped on Wednesday amid renewed fears of a global economic slowdown. Hong Kong’s Hang Seng index declined fractionally in afternoon trade, as shares of Chinese tech behemoth Tencent slipped 1.39%. Elsewhere, Japan’s Nikkei 225 shed 0.49% to close at 21,778.61 as shares of index heavyweights Softbank Group and Fanuc dropped 2.67% and 2.22%, respectively. The moves across the region came ahead of Hong Kong retail sales data for August, set to be released on Wednesday. “There is a
Asia stocks decline amid renewed slowdown fears Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-02  Authors: eustance huang
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Asia stocks decline amid renewed slowdown fears

Stocks in Asia slipped on Wednesday amid renewed fears of a global economic slowdown.

Hong Kong’s Hang Seng index declined fractionally in afternoon trade, as shares of Chinese tech behemoth Tencent slipped 1.39%.

Elsewhere, Japan’s Nikkei 225 shed 0.49% to close at 21,778.61 as shares of index heavyweights Softbank Group and Fanuc dropped 2.67% and 2.22%, respectively. The Topix index also slipped 0.42% to finish its trading day at 1,596.29. Over in South Korea, the Kospi declined 1.95% to close at 2,031.91.

The S&P/ASX 200 in Australia ended its trading day 1.53% lower at 6,639.90 as most of the sectors declined. Shares of National Australia Bank dropped 2.29% after the lender announced Wednesday that it would incur additional charges of 1.18 billion Australian dollars ($791.96 million), which is expected to slash its cash earnings in the second half of fiscal 2019 by about 1.123 billion Australian dollars ($753.70 million) after tax.

Overall, the MSCI Asia ex-Japan index traded 0.7% lower.

Meanwhile, manufacturing activity in the U.S. contracted to its worst level since June 2009, according to a Tuesday report from the Institute for Supply Management (ISM). That came on the back of the release of weak manufacturing data from Europe.

“The very weak ISM, weak levels of (capital expenditure) plans, and inversion of parts of the US yield curve suggests a growing risk the US economy falls into recession,” Joseph Capurso, senior currency strategist at Commonwealth Bank of Australia, wrote in a note.

Markets in China and India were closed on Wednesday for holidays.

The moves across the region came ahead of Hong Kong retail sales data for August, set to be released on Wednesday. The sector has taken a hit amid protracted protests in the city that have lasted for months and periodically degenerated into violence. That comes on top of the ongoing U.S.-China trade war, which has lasted more than a year and taken a toll on Hong Kong’s economy.

“There is a recession underway in Hong Kong at the moment,” Isaac Poole, chief investment officer of Oreana Financial Services, told CNBC’s “Street Signs” on Wednesday.

“If we look back at the data we’ve now had three quarters of negative growth in the last five … in Hong Kong,” Poole said, adding that the third quarter this year is likely to be negative.


Company: cnbc, Activity: cnbc, Date: 2019-10-02  Authors: eustance huang
Keywords: news, cnbc, companies, decline, index, declined, australia, stocks, renewed, fears, slipped, kong, data, hong, asia, amid, weak, shares, trading, slowdown


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China is not the only one that has to change its business practices, says Yale’s Stephen Roach

The U.S. — and other countries — has complained about the difficulties of doing business in China, but the Asian economic giant is not the only one that should change its practices, according to a prominent economist. America, too, has to re-examine the way it’s engaging with China right now to address those complaints, said Stephen Roach, a senior fellow at Yale University. “I think we need to make some big changes in the way we do business together. I hesitate to say all the onus of change jus


The U.S. — and other countries — has complained about the difficulties of doing business in China, but the Asian economic giant is not the only one that should change its practices, according to a prominent economist. America, too, has to re-examine the way it’s engaging with China right now to address those complaints, said Stephen Roach, a senior fellow at Yale University. “I think we need to make some big changes in the way we do business together. I hesitate to say all the onus of change jus
China is not the only one that has to change its business practices, says Yale’s Stephen Roach Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-01  Authors: yen nee lee saheli roy choudhury, yen nee lee, saheli roy choudhury
Keywords: news, cnbc, companies, roach, china, business, way, asian, yale, practices, whos, stephen, change, asia, yales


China is not the only one that has to change its business practices, says Yale's Stephen Roach

The U.S. — and other countries — has complained about the difficulties of doing business in China, but the Asian economic giant is not the only one that should change its practices, according to a prominent economist.

America, too, has to re-examine the way it’s engaging with China right now to address those complaints, said Stephen Roach, a senior fellow at Yale University. Concerns that foreign businesses have raised about China include being forced to transfer technology to their Chinese partners and government subsidies for state-owned enterprises that distort competition.

“I think we need to make some big changes in the way we do business together. I hesitate to say all the onus of change just fall on China,” Roach, who’s also a former chairman for Morgan Stanley Asia, told CNBC’s “Squawk Box Asia” on Tuesday.

He added that instead of using threats to force China to change its trade and business practices, the U.S. may find it more effective to negotiate a bilateral investment treaty with the Asian country.


Company: cnbc, Activity: cnbc, Date: 2019-10-01  Authors: yen nee lee saheli roy choudhury, yen nee lee, saheli roy choudhury
Keywords: news, cnbc, companies, roach, china, business, way, asian, yale, practices, whos, stephen, change, asia, yales


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‘Coal is still king’ in Southeast Asia even as countries work toward cleaner energy

Coal is still a dominant fuel in the rapidly growing economies of Southeast Asia, even amid a general global move toward cleaner energy sources, data from several recent reports show. This will result in the gradual slowdown of new coal-fired capacity in Southeast Asia,” said Jacqueline Tao, research associate at Wood Mackenzie, a commodity consultancy. “Coal is still king in Southeast Asia’s power market,” according to Wood Mackenzie. “Coal demand grows across much of Asia due to its affordabil


Coal is still a dominant fuel in the rapidly growing economies of Southeast Asia, even amid a general global move toward cleaner energy sources, data from several recent reports show. This will result in the gradual slowdown of new coal-fired capacity in Southeast Asia,” said Jacqueline Tao, research associate at Wood Mackenzie, a commodity consultancy. “Coal is still king in Southeast Asia’s power market,” according to Wood Mackenzie. “Coal demand grows across much of Asia due to its affordabil
‘Coal is still king’ in Southeast Asia even as countries work toward cleaner energy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-01  Authors: huileng tan
Keywords: news, cnbc, companies, work, countries, mackenzie, king, southeast, 2040, wood, cleaner, energy, power, demand, asia, coal, iea


'Coal is still king' in Southeast Asia even as countries work toward cleaner energy

A man fishing as a barge passes on the river of Mahakam to load coal from the mining area in Samarinda, East Kalimantan in Indonesia.

Coal is still a dominant fuel in the rapidly growing economies of Southeast Asia, even amid a general global move toward cleaner energy sources, data from several recent reports show.

“The narrative surrounding coal has been pessimistic across the world. This will result in the gradual slowdown of new coal-fired capacity in Southeast Asia,” said Jacqueline Tao, research associate at Wood Mackenzie, a commodity consultancy.

“However, the reality of rising power demand and affordability issues in the region mean that we will only start to see coal’s declining power post-2030,” Tao said on Sept. 25 when the consultancy released a new report.

“Coal is still king in Southeast Asia’s power market,” according to Wood Mackenzie.

The coal industry has been facing widespread criticism from environmental campaigners for causing pollution.

But global coal demand grew for a second straight year to reach 0.7% in 2018, data from the International Energy Agency (IEA) showed.

In its report published in December, the IEA projected coal use through 2023 to be stable as strong consumption growth in Southeast Asia and India offsets declining usage in Europe and North America.

“Coal demand grows across much of Asia due to its affordability and availability,” the IEA in that report.

Not only will coal continue to be the dominant fuel source in power generation in Southeast Asia, its use will grow and peak in 2027 before slowing, the Wood Mackenzie study found. By 2040, coal will account for 36% of Southeast Asia’s energy mix for power generation, according to the consultancy.

The demand surge is primarily driven by Indonesia and Vietnam, accounting for almost 60% of Southeast Asian power demand by 2040, said Tao.

However, as more banks shun the financing of coal projects amid government commitments to turn to cleaner energy sources, renewable energy is expected become more pervasive.

Wood Mackenzie estimates that solar and wind power plants will lead in Southeast Asia’s power capacity mix at 35% in 2040. The investment in wind and solar power will make up 23% of total power investment, amounting to more than $89 billion from 2019 to 2040.


Company: cnbc, Activity: cnbc, Date: 2019-10-01  Authors: huileng tan
Keywords: news, cnbc, companies, work, countries, mackenzie, king, southeast, 2040, wood, cleaner, energy, power, demand, asia, coal, iea


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Asia stocks mixed amid better-than-expected Chinese manufacturing activity; Budweiser shares surge

Asia stocks were mixed on Monday as Chinese factory activity in September came in above expectations. Mainland Chinese stocks slipped on the day, with the Shanghai composite shedding 0.92% to about 2,905.19 and Shenzhen component falling 1.08% to 9,446.24. Over in Hong Kong, the Hang Seng index rose 0.52%, as of its final hour of trading, as shares of Hong Kong Exchanges and Clearing advanced 1.06%. The Topix also shed 1.03% to finish its trading day at 1,587.80. South Korea’s Kospi advanced 0.6


Asia stocks were mixed on Monday as Chinese factory activity in September came in above expectations. Mainland Chinese stocks slipped on the day, with the Shanghai composite shedding 0.92% to about 2,905.19 and Shenzhen component falling 1.08% to 9,446.24. Over in Hong Kong, the Hang Seng index rose 0.52%, as of its final hour of trading, as shares of Hong Kong Exchanges and Clearing advanced 1.06%. The Topix also shed 1.03% to finish its trading day at 1,587.80. South Korea’s Kospi advanced 0.6
Asia stocks mixed amid better-than-expected Chinese manufacturing activity; Budweiser shares surge Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-30  Authors: eustance huang
Keywords: news, cnbc, companies, stocks, day, surge, slipped, kong, shenzhen, manufacturing, chinese, budweiser, betterthanexpected, shares, mixed, asia, amid, trading, hong, trade, shed


Asia stocks mixed amid better-than-expected Chinese manufacturing activity; Budweiser shares surge

Asia stocks were mixed on Monday as Chinese factory activity in September came in above expectations.

Mainland Chinese stocks slipped on the day, with the Shanghai composite shedding 0.92% to about 2,905.19 and Shenzhen component falling 1.08% to 9,446.24. The Shenzhen composite also slipped 1.058% to approximately 1,595.21.

Over in Hong Kong, the Hang Seng index rose 0.52%, as of its final hour of trading, as shares of Hong Kong Exchanges and Clearing advanced 1.06%.

Anheuser-Busch InBev’s Budweiser APAC listing jumped more than 3% in afternoon trade on its public debut in Hong Kong on Monday, against the backdrop of protests that have lasted for months in the city. The IPO is the second largest of 2019, with shares priced last week at the low end of the expected range.

“It’s a great stock for our market because it has regional exposure, it even gives you regional exposure into … the frontier markets which are hard to buy into. It’s in a defensive sector and … it’s liquid enough that people can actually trade it,” Mark Jolley, global strategist at CCB International Securities, told CNBC on Monday.

In Japan, the Nikkei 225 slipped 0.56% to close at 21,755.84 as shares of index heavyweight and conglomerate Softbank Group plunged 2.62%. The Topix also shed 1.03% to finish its trading day at 1,587.80.

South Korea’s Kospi advanced 0.64% to close at 2,063.05 while Australia’s S&P/ASX 200 shed 0.41% to end its trading day at 6,688.30.

Overall, the MSCI-Asia ex-Japan traded 0.06% lower.


Company: cnbc, Activity: cnbc, Date: 2019-09-30  Authors: eustance huang
Keywords: news, cnbc, companies, stocks, day, surge, slipped, kong, shenzhen, manufacturing, chinese, budweiser, betterthanexpected, shares, mixed, asia, amid, trading, hong, trade, shed


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