Stocks in China mostly tumble; Japan markets closed for 10-day holiday

Shares in the Asia Pacific region were mixed on Monday, while markets in Japan were closed for a holiday. Mainland Chinese shares fell by the close, with the Shanghai composite 0.77% lower at 3,062.50 and the Shenzhen component dropping about 2.88% to 9,622.49. One investor told CNBC valuations in Chinese markets were “a little bit expensive” at the moment. During such scenarios when historical valuations are “getting a little bit stretched,” investors tend to “take a bit of profit,” he added. M


Shares in the Asia Pacific region were mixed on Monday, while markets in Japan were closed for a holiday. Mainland Chinese shares fell by the close, with the Shanghai composite 0.77% lower at 3,062.50 and the Shenzhen component dropping about 2.88% to 9,622.49. One investor told CNBC valuations in Chinese markets were “a little bit expensive” at the moment. During such scenarios when historical valuations are “getting a little bit stretched,” investors tend to “take a bit of profit,” he added. M
Stocks in China mostly tumble; Japan markets closed for 10-day holiday Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-29  Authors: eustance huang
Keywords: news, cnbc, companies, markets, holiday, japan, 10day, profit, tumble, stocks, historical, hand, composite, bit, closed, valuations, shares, china, chinese, index


Stocks in China mostly tumble; Japan markets closed for 10-day holiday

Shares in the Asia Pacific region were mixed on Monday, while markets in Japan were closed for a holiday.

Mainland Chinese shares fell by the close, with the Shanghai composite 0.77% lower at 3,062.50 and the Shenzhen component dropping about 2.88% to 9,622.49. The Shenzhen composite also declined 2.412% to 1,625.62.

The CSI 300, which tracks the largest shares on the mainland, on the other hand, rose 0.28% to finish at 3,900.33. Shenzhen-listed shares of electric vehicle maker BYD gained 0.52% after the company reported a 632% surge in first-quarter net profit. Its Hong Kong-listed counterpart, on the other hand, declined more than 0.8%.

One investor told CNBC valuations in Chinese markets were “a little bit expensive” at the moment.

“When you sort of look at both the valuation levels on a P/E basis as well as on a price-to-book basis for MSCI China, they’re already above its 10 and 15 year historical averages. With the CSI 300, they’re very much approaching their historical averages,” Ken Wong, Asia equity portfolio specialist at Eastspring Investments, told CNBC’s “Squawk Box” on Monday.

During such scenarios when historical valuations are “getting a little bit stretched,” investors tend to “take a bit of profit,” he added. “That’s exactly what we saw last week.”

Mainland Chinese markets stumbled to their worst weekly performance since October last week, with the Shanghai composite dropping more than 5.5%.

Research firm Capital Economics attributed the weakness to comments made by China’s top decision-making body about the country’s economic stimulus plans. While Chinese officials said they would continue to support the economy, better-than-expected first-quarter GDP results sparked worries about potential near-term policy easing.

Meanwhile, Hong Kong’s Hang Seng index advanced 0.88% in its final hour of trading.

The MSCI Asia-ex Japan index also rose 0.53% to 540.53, as of 3:20 p.m. HK/SIN.

In South Korea, the Kospi added 1.70%, with shares of industry heavyweight Samsung Electronics jumping 2.90% ahead of its earnings release on Tuesday.

The ASX 200 in Australia, on the other hand, slipped 0.41% to close at 6,359.50.

Singapore’s Straits Times Index jumped 1.54% in afternoon trade as shares of DBS Group, Southeast Asia’s biggest lender, surged more than 3.4% after it reported a record quarterly profit. The shares of other banks in Singapore also climbed, with Oversea-Chinese Banking Corp rising more than 2%, and United Overseas Bank up more than 2.8%.

Japan is currently on a 10-day holiday from April 27 to May 6 to celebrate the enthronement of the country’s Crown Prince Naruhito.


Company: cnbc, Activity: cnbc, Date: 2019-04-29  Authors: eustance huang
Keywords: news, cnbc, companies, markets, holiday, japan, 10day, profit, tumble, stocks, historical, hand, composite, bit, closed, valuations, shares, china, chinese, index


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Asia stocks mixed ahead of Trump and Kim’s meeting in Vietnam

Stocks in Asia were mixed on Wednesday ahead of a meeting between U.S. President Donald Trump and North Korean leader Kim Jong Un in Vietnam. The mainland Chinese markets were mixed by the end of their trading day, with the Shanghai composite advancing around 0.42 percent to 2,953.82 and the Shenzhen component declining 0.916 percent to 9,005.77. The Shenzhen composite slipped 0.567 percent to 1,540.92. Japan’s Nikkei 225 rose 0.5 percent to close at 21,556.51 while the Topix advanced 0.2 percen


Stocks in Asia were mixed on Wednesday ahead of a meeting between U.S. President Donald Trump and North Korean leader Kim Jong Un in Vietnam. The mainland Chinese markets were mixed by the end of their trading day, with the Shanghai composite advancing around 0.42 percent to 2,953.82 and the Shenzhen component declining 0.916 percent to 9,005.77. The Shenzhen composite slipped 0.567 percent to 1,540.92. Japan’s Nikkei 225 rose 0.5 percent to close at 21,556.51 while the Topix advanced 0.2 percen
Asia stocks mixed ahead of Trump and Kim’s meeting in Vietnam Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-27  Authors: eustance huang
Keywords: news, cnbc, companies, day, close, shares, trading, slipped, composite, ahead, stocks, trump, rose, meeting, vietnam, shenzhen, markets, kims, mixed, asia


Asia stocks mixed ahead of Trump and Kim's meeting in Vietnam

Stocks in Asia were mixed on Wednesday ahead of a meeting between U.S. President Donald Trump and North Korean leader Kim Jong Un in Vietnam.

The mainland Chinese markets were mixed by the end of their trading day, with the Shanghai composite advancing around 0.42 percent to 2,953.82 and the Shenzhen component declining 0.916 percent to 9,005.77. The Shenzhen composite slipped 0.567 percent to 1,540.92.

Hong Kong’s Hang Seng index also declined about 0.15 percent in its final hour of trading.

Meanwhile, shares in India were hit by another wave of uncertainty following renewed tensions between New Delhi and Islamabad. The Nifty 50 slipped around 0.59 percent while the Indian rupee shed about 0.5 percent against the greenback at 71.301.

Other major Asian stock markets, however, saw gains on the day.

Japan’s Nikkei 225 rose 0.5 percent to close at 21,556.51 while the Topix advanced 0.2 percent to finish its trading day at 1,620.42. Shares of Fast Retailing, the company behind the Uniqlo chain of apparel stores, gained 2.67 percent.

South Korea’s Kospi also added 0.37 percent to close at 2,234.79, as Hyundai Motor shares surged 5.31 percent after the company rejected on Tuesday a payout call by activist investor Elliot Management.

The ASX 200 in Australia rose 0.36 percent to close at 6,150.30, with majority of the sectors advancing.


Company: cnbc, Activity: cnbc, Date: 2019-02-27  Authors: eustance huang
Keywords: news, cnbc, companies, day, close, shares, trading, slipped, composite, ahead, stocks, trump, rose, meeting, vietnam, shenzhen, markets, kims, mixed, asia


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Shares in China jump more than 2 percent after Trump announces delay in tariff increase

Shares in mainland China advanced in early trade following the positive developments. The Shenzhen composite also added 2.391 percent. Over in Hong Kong, the Hang Seng index rose 0.58 percent as shares of China Construction Bank gained more than 1 percent. In Japan, the Nikkei 225 advanced 0.71 percent and the Topix rose 0.79 percent in morning trade. Shares of index heavyweight Fast Retailing, the company behind the Uniqlo chain of apparel stores, gained more than 0.5 percent.


Shares in mainland China advanced in early trade following the positive developments. The Shenzhen composite also added 2.391 percent. Over in Hong Kong, the Hang Seng index rose 0.58 percent as shares of China Construction Bank gained more than 1 percent. In Japan, the Nikkei 225 advanced 0.71 percent and the Topix rose 0.79 percent in morning trade. Shares of index heavyweight Fast Retailing, the company behind the Uniqlo chain of apparel stores, gained more than 0.5 percent.
Shares in China jump more than 2 percent after Trump announces delay in tariff increase Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-25  Authors: eustance huang
Keywords: news, cnbc, companies, delay, trade, composite, jump, announces, morning, tariff, gained, shenzhen, higher, china, index, shares, rose, increase, trump


Shares in China jump more than 2 percent after Trump announces delay in tariff increase

Stocks in Asia traded higher on Monday morning amid trade optimism after U.S. President Donald Trump announced a postponement of a closely-watched deadline on March 1.

Shares in mainland China advanced in early trade following the positive developments. The Shanghai composite jumped 2.32 percent while the Shenzhen component gained 2.624 percent. The Shenzhen composite also added 2.391 percent.

Over in Hong Kong, the Hang Seng index rose 0.58 percent as shares of China Construction Bank gained more than 1 percent.

In Japan, the Nikkei 225 advanced 0.71 percent and the Topix rose 0.79 percent in morning trade. Shares of index heavyweight Fast Retailing, the company behind the Uniqlo chain of apparel stores, gained more than 0.5 percent.

South Korea’s Kospi also added 0.11 percent, while Australia’s ASX 200 was 0.18 percent higher.

“As both Presidents said significant progress has been made, the chance for the US and China to reach a deal is getting higher,” OCBC Treasury Research said in a morning note. “However, the key to medium term stability hinges on two areas including agreement on China’s structural reforms and the enforcement of trade deals.”


Company: cnbc, Activity: cnbc, Date: 2019-02-25  Authors: eustance huang
Keywords: news, cnbc, companies, delay, trade, composite, jump, announces, morning, tariff, gained, shenzhen, higher, china, index, shares, rose, increase, trump


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Asian stocks decline following Wall Street slump

The Shanghai composite slipped 0.82 percent to close at about 2,576.65 and the Shenzhen composite was lower by 0.813 percent to finish the day at around 1,312.55. In Hong Kong, the Hang Seng index declined by more than 1 percent in its final hour of trade. Ahead of that speech, one economist told CNBC’s “Street Signs” cautioned investors not to expect a “dramatic announcement or surprise by the Chinese government.” “First of all, that’s the style of the Chinese government,” said Chi Lo, senior e


The Shanghai composite slipped 0.82 percent to close at about 2,576.65 and the Shenzhen composite was lower by 0.813 percent to finish the day at around 1,312.55. In Hong Kong, the Hang Seng index declined by more than 1 percent in its final hour of trade. Ahead of that speech, one economist told CNBC’s “Street Signs” cautioned investors not to expect a “dramatic announcement or surprise by the Chinese government.” “First of all, that’s the style of the Chinese government,” said Chi Lo, senior e
Asian stocks decline following Wall Street slump Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-18  Authors: eustance huang
Keywords: news, cnbc, companies, composite, chinese, street, volatility, decline, wall, xi, wests, wants, china, slump, asian, stocks, following, investors, economist, watched


Asian stocks decline following Wall Street slump

The mainland Chinese markets saw losses on Tuesday. The Shanghai composite slipped 0.82 percent to close at about 2,576.65 and the Shenzhen composite was lower by 0.813 percent to finish the day at around 1,312.55.

In Hong Kong, the Hang Seng index declined by more than 1 percent in its final hour of trade.

In an address to commemorate the 40th anniversary of China’s economic reforms on Tuesday, Xi called for his country to “stay the course” on its current path of reform and emphasized that “no one is in a position to dictate to the Chinese people what should or should not be done.”

Xi’s remarks were being closely watched as investors sought clues on whether the Chinese leader’s idea of progress aligned with the West’s increasingly vocal demands for less state control, which could have implications on whether the U.S. reaches a trade deal with China by the end of its 90-day tariff ceasefire.

Ahead of that speech, one economist told CNBC’s “Street Signs” cautioned investors not to expect a “dramatic announcement or surprise by the Chinese government.”

“First of all, that’s the style of the Chinese government,” said Chi Lo, senior economist of Greater China at BNP Paribas Asset Management.

Chi also added that Beijing “really wants stability on all fronts to go ahead” instead of causing any potential excitement or volatility which could “hurt sentiment towards China.”


Company: cnbc, Activity: cnbc, Date: 2018-12-18  Authors: eustance huang
Keywords: news, cnbc, companies, composite, chinese, street, volatility, decline, wall, xi, wests, wants, china, slump, asian, stocks, following, investors, economist, watched


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Asian stocks stumble, following Wall Street plunge

Stocks in Asia traded down Wednesday morning after an overnight plunge on Wall Street as investors worried about a potential economic slowdown and the state of the U.S.-China trade war. The mainland Chinese markets, closely watched in relation to Beijing’s ongoing dispute with Washington, remained cautious by the end of the morning session. The Caixin Services Purchasing Managers’ Index, which measures economic activity in China’s services sector, rose to 53.8 in November — its highest in five m


Stocks in Asia traded down Wednesday morning after an overnight plunge on Wall Street as investors worried about a potential economic slowdown and the state of the U.S.-China trade war. The mainland Chinese markets, closely watched in relation to Beijing’s ongoing dispute with Washington, remained cautious by the end of the morning session. The Caixin Services Purchasing Managers’ Index, which measures economic activity in China’s services sector, rose to 53.8 in November — its highest in five m
Asian stocks stumble, following Wall Street plunge Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-05  Authors: eustance huang
Keywords: news, cnbc, companies, chinese, xi, composite, asian, ministry, morning, stocks, stumble, index, economic, chinas, wall, worried, street, plunge, services, following


Asian stocks stumble, following Wall Street plunge

Stocks in Asia traded down Wednesday morning after an overnight plunge on Wall Street as investors worried about a potential economic slowdown and the state of the U.S.-China trade war.

The mainland Chinese markets, closely watched in relation to Beijing’s ongoing dispute with Washington, remained cautious by the end of the morning session. The Shanghai composite declined 0.21 percent while the Shenzhen composite was largely flat.

The Caixin Services Purchasing Managers’ Index, which measures economic activity in China’s services sector, rose to 53.8 in November — its highest in five months — as compared to 50.8 in October.

Earlier in the day, China’s Ministry of Commerce said in a statement on its website that the weekend meeting between Trump and Chinese President Xi Jinping was successful. The ministry also said the two countries will push ahead with negotiations within 90 days, and Beijing will work to address issues agreed upon as quickly as possible.

Meanwhile, the Hang Seng index in Hong Kong also fell by 1.54 percent. Shares of vehicle maker Baic Motor dropped 9.29 percent following a Bloomberg report that Germany’s Daimler is considering increasing its stake in its joint venture with the Chinese firm.


Company: cnbc, Activity: cnbc, Date: 2018-12-05  Authors: eustance huang
Keywords: news, cnbc, companies, chinese, xi, composite, asian, ministry, morning, stocks, stumble, index, economic, chinas, wall, worried, street, plunge, services, following


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Home price gains shrink to the lowest level since January 2017: September S&P Case-Shiller index

Home values are still rising, but the gains have now shrunk to the lowest level since January 2017, as rising mortgage rates cut into affordability. Prices increased 5.5 percent annually in September, down from 5.7 percent in August, according to the S&P CoreLogic Case-Shiller U.S. National Home Price Index. The 10-City Composite annual increase came in at 4.8 percent, down from 5.2 percent in the previous month. The National Association of Home Builders sentiment index dropped seven points to 6


Home values are still rising, but the gains have now shrunk to the lowest level since January 2017, as rising mortgage rates cut into affordability. Prices increased 5.5 percent annually in September, down from 5.7 percent in August, according to the S&P CoreLogic Case-Shiller U.S. National Home Price Index. The 10-City Composite annual increase came in at 4.8 percent, down from 5.2 percent in the previous month. The National Association of Home Builders sentiment index dropped seven points to 6
Home price gains shrink to the lowest level since January 2017: September S&P Case-Shiller index Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-27  Authors: diana olick, daniel acker, bloomberg, getty images
Keywords: news, cnbc, companies, housing, blitzer, ago, mortgage, increase, gains, level, sp, 2017, price, composite, shrink, lowest, index, homes, caseshiller


Home price gains shrink to the lowest level since January 2017: September S&P Case-Shiller index

Home values are still rising, but the gains have now shrunk to the lowest level since January 2017, as rising mortgage rates cut into affordability.

Prices increased 5.5 percent annually in September, down from 5.7 percent in August, according to the S&P CoreLogic Case-Shiller U.S. National Home Price Index. The 10-City Composite annual increase came in at 4.8 percent, down from 5.2 percent in the previous month. The 20-City Composite rose 5.1 percent year-over-year, down from 5.5 in the previous month.

“Home prices plus data on house sales and construction confirm the slowdown in housing,” says David M. Blitzer, managing director and chairman of the Index Committee at S&P Dow Jones Indices. “One factor contributing to the weaker housing market is the recent increase in mortgage rates.”

The average rate on the 30-year fixed mortgage is now a full percentage point higher than it was one year ago, and affordability has fallen to the weakest level in over a decade. Blitzer also pointed to weaker sales of both new and existing single family homes, which peaked one year ago in November 2017.

“Sales of existing homes are down 9.3 percent from that peak. Housing starts are down 8.7 percent from November of last year. The National Association of Home Builders sentiment index dropped seven points to 60, its lowest level in two years,” Blitzer added.

Cities that experienced the biggest price drops during the housing crash a decade ago are still seeing some of the biggest gains currently. Las Vegas, Phoenix and Tampa are still seeing home value gains increase.

San Francisco and Seattle reported the highest year-over-year gains among the 20 cities. In September, Las Vegas prices jumped 13.5 percent annually. San Francisco values rose 9.9 percent and Seattle homes saw an 8.4 percent increase. Four cities in the 20-City Composite saw bigger annual increases in September than in August.

WATCH: How to use your home as a source of cash


Company: cnbc, Activity: cnbc, Date: 2018-11-27  Authors: diana olick, daniel acker, bloomberg, getty images
Keywords: news, cnbc, companies, housing, blitzer, ago, mortgage, increase, gains, level, sp, 2017, price, composite, shrink, lowest, index, homes, caseshiller


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Chinese shares fall as Asia markets trade mixed

Asia markets traded mixed on Monday as major Chinese indexes dipped in morning trade. The Shanghai composite slipped by 0.95 percent and the Shenzhen composite fell 0.83 percent. Hong Kong’s Hang Seng index traded fractionally higher. In Japan, the Nikkei 225 retraced gains of more than 1 percent to trade near flat at 21,197.84 while the Topix index fell 0.14 percent. South Korea’s Kospi gave up early gains to trade down 0.36 percent as heavyweight Samsung Electronics added 0.24 percent while SK


Asia markets traded mixed on Monday as major Chinese indexes dipped in morning trade. The Shanghai composite slipped by 0.95 percent and the Shenzhen composite fell 0.83 percent. Hong Kong’s Hang Seng index traded fractionally higher. In Japan, the Nikkei 225 retraced gains of more than 1 percent to trade near flat at 21,197.84 while the Topix index fell 0.14 percent. South Korea’s Kospi gave up early gains to trade down 0.36 percent as heavyweight Samsung Electronics added 0.24 percent while SK
Chinese shares fall as Asia markets trade mixed Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-29  Authors: eustance huang
Keywords: news, cnbc, companies, index, markets, composite, traded, fall, asia, global, gains, shares, trade, stock, fell, morning, chinese, mixed


Chinese shares fall as Asia markets trade mixed

Asia markets traded mixed on Monday as major Chinese indexes dipped in morning trade.

The Shanghai composite slipped by 0.95 percent and the Shenzhen composite fell 0.83 percent. Hong Kong’s Hang Seng index traded fractionally higher.

In Japan, the Nikkei 225 retraced gains of more than 1 percent to trade near flat at 21,197.84 while the Topix index fell 0.14 percent.

South Korea’s Kospi gave up early gains to trade down 0.36 percent as heavyweight Samsung Electronics added 0.24 percent while SK Hynix traded down 2.54 percent.

In Australia, the benchmark ASX 200 rose 0.98 percent, with all sectors trading up. The energy sector was up 1.08 percent, materials gained 0.99 percent and the heavily weighted financial subindex was up 0.68 percent.

“With global equity markets suffering a massive sell-off in October, led by tech counters, the approach of November may be time to stock; so to speak,” analysts at Mizuho Bank wrote in a morning note.

“Pointedly, whether this is … a “healthy” and long overdue correction that is merely (and sensibly) taking account of monetary policy calibrations, and attendant global liquidity conditions or an alarming descend into potentially unruly bear markets,” they said.

“The jury is still out, and perhaps it is useful to take stock of what’s priced in, and drivers of equities at the margin; given the much wider (asset market) spillover,” the analysts added.


Company: cnbc, Activity: cnbc, Date: 2018-10-29  Authors: eustance huang
Keywords: news, cnbc, companies, index, markets, composite, traded, fall, asia, global, gains, shares, trade, stock, fell, morning, chinese, mixed


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Asia markets turbulent following roller coaster day on Wall Street

Asia stocks were turbulent on Wednesday morning on the back of declines overnight on Wall Street. The Greater Chinese markets initially saw gains in early trade but fell into negative territory by about 10 a.m. HK/SIN time (10 p.m. Hong Kong’s Hang Seng index rose by about 0.5 percent before falling to trade about 0.18 percent lower. The Shanghai composite initially advanced by 0.14 percent but fell into negative territory at about 10 a.m. HK/SIN time. By late morning, Japan’s Nikkei 225 slipped


Asia stocks were turbulent on Wednesday morning on the back of declines overnight on Wall Street. The Greater Chinese markets initially saw gains in early trade but fell into negative territory by about 10 a.m. HK/SIN time (10 p.m. Hong Kong’s Hang Seng index rose by about 0.5 percent before falling to trade about 0.18 percent lower. The Shanghai composite initially advanced by 0.14 percent but fell into negative territory at about 10 a.m. HK/SIN time. By late morning, Japan’s Nikkei 225 slipped
Asia markets turbulent following roller coaster day on Wall Street Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-24  Authors: eustance huang
Keywords: news, cnbc, companies, trade, composite, fell, roller, territory, street, following, asia, 018, day, negative, hksin, initially, morning, turbulent, markets, coaster, wall


Asia markets turbulent following roller coaster day on Wall Street

Asia stocks were turbulent on Wednesday morning on the back of declines overnight on Wall Street.

The Greater Chinese markets initially saw gains in early trade but fell into negative territory by about 10 a.m. HK/SIN time (10 p.m. ET, Tuesday).

Hong Kong’s Hang Seng index rose by about 0.5 percent before falling to trade about 0.18 percent lower. The Shanghai composite initially advanced by 0.14 percent but fell into negative territory at about 10 a.m. HK/SIN time. The Shenzhen composite was trading about 0.77 percent lower.

By late morning, Japan’s Nikkei 225 slipped 0.18 percent while the Topix fell 0.65 percent to trade at around 1,640, hitting its lowest since Sept. 2017.

Shares of automaker Subaru fell, seeing losses of 5.81 percent after the company slashed its operating income estimate for the first half of the fiscal year ending Mar. 31, 2019.


Company: cnbc, Activity: cnbc, Date: 2018-10-24  Authors: eustance huang
Keywords: news, cnbc, companies, trade, composite, fell, roller, territory, street, following, asia, 018, day, negative, hksin, initially, morning, turbulent, markets, coaster, wall


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Asia markets: Saudi Arabia, US-China trade war, currencies in focus

Asian markets fell across the board in on Tuesday as investors remained cautious amid rising global tensions. The Greater China markets fell, reversing gains seen over the last two sessions. The Shanghai composite shed 2.26 percent to close at 2,594.83 while the Shenzhen composite declined 1.92 percent to 1,300.29. Meanwhile, Hong Kong’s Hang Seng index fell 3 percent in afternoon trade. One investor suggested that the time is not ripe to re-enter Asian markets.


Asian markets fell across the board in on Tuesday as investors remained cautious amid rising global tensions. The Greater China markets fell, reversing gains seen over the last two sessions. The Shanghai composite shed 2.26 percent to close at 2,594.83 while the Shenzhen composite declined 1.92 percent to 1,300.29. Meanwhile, Hong Kong’s Hang Seng index fell 3 percent in afternoon trade. One investor suggested that the time is not ripe to re-enter Asian markets.
Asia markets: Saudi Arabia, US-China trade war, currencies in focus Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-23  Authors: eustance huang
Keywords: news, cnbc, companies, asia, uschina, likely, currencies, trade, arabia, seen, close, shanghai, asian, war, index, fell, focus, composite, markets, reenter, saudi


Asia markets: Saudi Arabia, US-China trade war, currencies in focus

Asian markets fell across the board in on Tuesday as investors remained cautious amid rising global tensions.

The Greater China markets fell, reversing gains seen over the last two sessions. The Shanghai composite shed 2.26 percent to close at 2,594.83 while the Shenzhen composite declined 1.92 percent to 1,300.29.

Meanwhile, Hong Kong’s Hang Seng index fell 3 percent in afternoon trade.

“Yesterday’s 4.1% rally in the Shanghai Composite Index is likely to have been a dead cat bounce,” strategists at DBS Group Research wrote in a morning note. “Any stimulus by China should be viewed not as a boost but as a cushion against a slowing economy against external headwinds.”

In South Korea, the Kospi fell 2.57 percent to 2,106.10, closing at a low not seen since March 2017.

In Japan, the Nikkei 225 was down 2.67 percent to close at 22,010.78 while the Topix index fell 2.63 percent to 1,650.72.

One investor suggested that the time is not ripe to re-enter Asian markets.

“In the short term, we believe that the U.S. dollar is still a bit too strong and also, interest rates in the U.S. are likely to continue to rise and also, the trade tensions at the moment are still a little bit too high,” Khiem Do, head of Asian multi-asset at Barings, told CNBC’s “Squawk Box” on Tuesday.

“I think that we need to see those three catalysts actually improving somewhat for us to re-enter into… the markets,” he said.

Australia’s ASX 200 closed down 1.05 percent at 5,843.1, with the heavily-weighted financial sector falling 1.18 percent and the energy subindex declining 3.21 percent.

Shares of hospital operator Healthscope jumped 19.33 percent Down Under after the company said it had received a takeover proposal from a consortium for 4.11 billion Australian dollars ($2.9 billion), according to Reuters.


Company: cnbc, Activity: cnbc, Date: 2018-10-23  Authors: eustance huang
Keywords: news, cnbc, companies, asia, uschina, likely, currencies, trade, arabia, seen, close, shanghai, asian, war, index, fell, focus, composite, markets, reenter, saudi


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Chinese stocks break a two-decade trend, and that could signal more downside

Chinese tech stocks wiped out, but one could be a buy 3:41 PM ET Thu, 18 Oct 2018 | 04:06The Chinese stock market is getting wiped out. That tsunami of selling has inflicted heavy technical damage on the Shanghai Composite, says one technician. “From a technical perspective, the next area of support that would come into play on the Shanghai Composite would be around 2,000. So far, the S&P 500 has mostly resisted the severity of sell-offs seen in Chinese stocks. There is one Chinese tech name tha


Chinese tech stocks wiped out, but one could be a buy 3:41 PM ET Thu, 18 Oct 2018 | 04:06The Chinese stock market is getting wiped out. That tsunami of selling has inflicted heavy technical damage on the Shanghai Composite, says one technician. “From a technical perspective, the next area of support that would come into play on the Shanghai Composite would be around 2,000. So far, the S&P 500 has mostly resisted the severity of sell-offs seen in Chinese stocks. There is one Chinese tech name tha
Chinese stocks break a two-decade trend, and that could signal more downside Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: keris lahiff, getty images, brendan mcdermid, afp, kcna, thomas barwick getty images, source, lawrence mcdonald
Keywords: news, cnbc, companies, twodecade, signal, trend, chinese, break, gilbert, stock, wiped, market, shanghai, alibaba, stocks, downside, composite, ultimately


Chinese stocks break a two-decade trend, and that could signal more downside

Chinese tech stocks wiped out, but one could be a buy 3:41 PM ET Thu, 18 Oct 2018 | 04:06

The Chinese stock market is getting wiped out.

China’s Shanghai Composite sank to four-year lows this week, while the so-called BATS stocks — Baidu, Alibaba, Tencent and Sina — have suffered heavy losses this month.

That tsunami of selling has inflicted heavy technical damage on the Shanghai Composite, says one technician.

“There’s been a very long-term uptrend that’s been intact since 1996, and the recent price action on the Shanghai Composite is now violating this,” Craig Johnson, chief market technician at Piper Jaffray, said on “Trading Nation” on Thursday.

“From a technical perspective, the next area of support that would come into play on the Shanghai Composite would be around 2,000. That’s about 20 percent lower from here, so still significant downside left to go,” said Johnson.

As of Thursday’s close, the Shanghai was 30 percent below its 52-week high, pushing it deep into a bear market. Another 20 percent drop would drag it 44 percent from the year’s highs. It rose 2.58 percent on Friday, even though China’s latest GDP report was lower than expected.

“Are you going to continue to see the Shanghai come down, [and] will that ultimately affect the U.S. equities? From my perspective I think the answer is ultimately yes it will,” said Johnson.

So far, the S&P 500 has mostly resisted the severity of sell-offs seen in Chinese stocks. The index is down 5 percent this month, around half the drop on the Shanghai Composite. The FXI China large-cap ETF has fallen nearly 10 percent.

There is one Chinese tech name that could be worth a second look, according to Stacey Gilbert, market strategist at Susquehanna.

“Alibaba would be the name that I would highlight,” Gilbert said on “Trading Nation” on Thursday. “China has huge and growing e-commerce, and we believe that this is going to be the winner, Alibaba will win. There’s no doubt about that.”

Alibaba posted 60 percent sales growth in its most recent March-ended fiscal year. It has reported double-digit revenue increases for every year since its U.S. market debut in 2014.

“There are two ways you could play it,” Gilbert said. “Set it and forget, just buy the stock, don’t look at it again. … The alternative is buying calls.”

Gilbert says an in-the-money call in Alibaba shares would provide upside exposure while limiting downside risk. Although elevated volatility has made it more expensive, Gilbert says it is not elevated relative to ETFs that contain the stock.


Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: keris lahiff, getty images, brendan mcdermid, afp, kcna, thomas barwick getty images, source, lawrence mcdonald
Keywords: news, cnbc, companies, twodecade, signal, trend, chinese, break, gilbert, stock, wiped, market, shanghai, alibaba, stocks, downside, composite, ultimately


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