Major Asia Pacific markets higher; trade war concerns dampen investor sentiment

Major markets in Asia Pacific closed higher on Monday, following a volatile week for global markets as growing trade war fears dented investor sentiment. Mainland Chinese markets bounced back from the previous week’s losses to close higher Monday. Markets in rest of the region rose, with major indexes in Japan, India and Singapore closed for public holidays. Major miners struggled for gains: Rio Tinto shares tumbled 2.75%, BHP shares were down 0.75% and Fortescue dropped 3.99%. “A risk-off tone


Major markets in Asia Pacific closed higher on Monday, following a volatile week for global markets as growing trade war fears dented investor sentiment. Mainland Chinese markets bounced back from the previous week’s losses to close higher Monday. Markets in rest of the region rose, with major indexes in Japan, India and Singapore closed for public holidays. Major miners struggled for gains: Rio Tinto shares tumbled 2.75%, BHP shares were down 0.75% and Fortescue dropped 3.99%. “A risk-off tone
Major Asia Pacific markets higher; trade war concerns dampen investor sentiment Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: weizhen tan saheli roy choudhury, weizhen tan, saheli roy choudhury
Keywords: news, cnbc, companies, dampen, close, investor, markets, pacific, higher, tumbled, week, shares, concerns, trade, war, losses, sentiment, hong, major


Major Asia Pacific markets higher; trade war concerns dampen investor sentiment

Major markets in Asia Pacific closed higher on Monday, following a volatile week for global markets as growing trade war fears dented investor sentiment.

Mainland Chinese markets bounced back from the previous week’s losses to close higher Monday. The Shanghai composite traded up 1.45% to close at 2,814.99 while the Shenzhen composite added 1.92% to 1,508.21. Hong Kong’s Hang Seng index was fractionally higher at 25,962.42 as of 3:15 p.m. HK/SIN.

But, shares of Hong Kong flag carrier Cathay Pacific tumbled more than 4% as of 3:15 p.m. HK/SIN after it suspended a pilot for his involvement in the ongoing anti-government protests in the city. The carrier said “overly radical” staff would be barred from crewing flights to the mainland. Cathay’s decision came a day after China’s aviation authority issued a “major aviation safety risk warning” to the airline.

Unrest in Hong Kong continued into its 10th week, with police and protesters clashing on Sunday.

Markets in rest of the region rose, with major indexes in Japan, India and Singapore closed for public holidays.

Australia’s benchmark S&P/ASX 200 retraced some of its early losses to climb marginally higher to 6,590.30. Major miners struggled for gains: Rio Tinto shares tumbled 2.75%, BHP shares were down 0.75% and Fortescue dropped 3.99%.

In South Korea, the Kospi clawed back losses to rise 0.23% to close at 1,942,29.

Overall, MSCI’s broadest index of Asia-Pacific shares outside Japan was almost flat.

“Trade tensions continued to drive financial market moves going into the end of the week, with markets very sensitive to reports on the US-China relationship,” Jack Chambers from ANZ Research wrote in a Monday morning note. “A risk-off tone hit the markets as President Trump warned that talks scheduled for next month may not take place.”


Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: weizhen tan saheli roy choudhury, weizhen tan, saheli roy choudhury
Keywords: news, cnbc, companies, dampen, close, investor, markets, pacific, higher, tumbled, week, shares, concerns, trade, war, losses, sentiment, hong, major


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Major Asia Pacific markets higher; trade war concerns dampen investor sentiment

Major markets in Asia Pacific closed higher on Monday, following a volatile week for global markets as growing trade war fears dented investor sentiment. Mainland Chinese markets bounced back from the previous week’s losses to close higher Monday. Markets in rest of the region rose, with major indexes in Japan, India and Singapore closed for public holidays. Major miners struggled for gains: Rio Tinto shares tumbled 2.75%, BHP shares were down 0.75% and Fortescue dropped 3.99%. “A risk-off tone


Major markets in Asia Pacific closed higher on Monday, following a volatile week for global markets as growing trade war fears dented investor sentiment. Mainland Chinese markets bounced back from the previous week’s losses to close higher Monday. Markets in rest of the region rose, with major indexes in Japan, India and Singapore closed for public holidays. Major miners struggled for gains: Rio Tinto shares tumbled 2.75%, BHP shares were down 0.75% and Fortescue dropped 3.99%. “A risk-off tone
Major Asia Pacific markets higher; trade war concerns dampen investor sentiment Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: weizhen tan saheli roy choudhury, weizhen tan, saheli roy choudhury
Keywords: news, cnbc, companies, pacific, concerns, sentiment, trade, major, higher, war, losses, week, markets, tumbled, close, shares, hong, investor, dampen


Major Asia Pacific markets higher; trade war concerns dampen investor sentiment

Major markets in Asia Pacific closed higher on Monday, following a volatile week for global markets as growing trade war fears dented investor sentiment.

Mainland Chinese markets bounced back from the previous week’s losses to close higher Monday. The Shanghai composite traded up 1.45% to close at 2,814.99 while the Shenzhen composite added 1.92% to 1,508.21. Hong Kong’s Hang Seng index was fractionally higher at 25,962.42 as of 3:15 p.m. HK/SIN.

But, shares of Hong Kong flag carrier Cathay Pacific tumbled more than 4% as of 3:15 p.m. HK/SIN after it suspended a pilot for his involvement in the ongoing anti-government protests in the city. The carrier said “overly radical” staff would be barred from crewing flights to the mainland. Cathay’s decision came a day after China’s aviation authority issued a “major aviation safety risk warning” to the airline.

Unrest in Hong Kong continued into its 10th week, with police and protesters clashing on Sunday.

Markets in rest of the region rose, with major indexes in Japan, India and Singapore closed for public holidays.

Australia’s benchmark S&P/ASX 200 retraced some of its early losses to climb marginally higher to 6,590.30. Major miners struggled for gains: Rio Tinto shares tumbled 2.75%, BHP shares were down 0.75% and Fortescue dropped 3.99%.

In South Korea, the Kospi clawed back losses to rise 0.23% to close at 1,942,29.

Overall, MSCI’s broadest index of Asia-Pacific shares outside Japan was almost flat.

“Trade tensions continued to drive financial market moves going into the end of the week, with markets very sensitive to reports on the US-China relationship,” Jack Chambers from ANZ Research wrote in a Monday morning note. “A risk-off tone hit the markets as President Trump warned that talks scheduled for next month may not take place.”


Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: weizhen tan saheli roy choudhury, weizhen tan, saheli roy choudhury
Keywords: news, cnbc, companies, pacific, concerns, sentiment, trade, major, higher, war, losses, week, markets, tumbled, close, shares, hong, investor, dampen


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Gold hits 1-week high as trade jitters dampen risk appetite

Spot gold was up 0.2 percent at $1,287 per ounce, as of 0715 GMT, after hitting their highest since April 26 at $1,287.94. Chinese Vice Premier Liu He will visit the United States on Thursday for trade talks and additional tariffs are set to take effect on Friday if a trade agreement is not reached by then. Gold should remain supported at least if there is no progress in trade talks. “Downside risks to growth from higher tariffs and the potential for equity weakness and lower yields should suppo


Spot gold was up 0.2 percent at $1,287 per ounce, as of 0715 GMT, after hitting their highest since April 26 at $1,287.94. Chinese Vice Premier Liu He will visit the United States on Thursday for trade talks and additional tariffs are set to take effect on Friday if a trade agreement is not reached by then. Gold should remain supported at least if there is no progress in trade talks. “Downside risks to growth from higher tariffs and the potential for equity weakness and lower yields should suppo
Gold hits 1-week high as trade jitters dampen risk appetite Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-08
Keywords: news, cnbc, companies, trade, dampen, tariffs, risk, ounce, week, high, potential, 1week, hits, jitters, gold, appetite, demand, ubs, supported, talks


Gold hits 1-week high as trade jitters dampen risk appetite

Gold prices rose to their highest in more than a week on Wednesday as renewed worries over U.S.-China trade dispute and its potential impact on global growth dented risk sentiment, stoking investors towards safe-haven assets.

Spot gold was up 0.2 percent at $1,287 per ounce, as of 0715 GMT, after hitting their highest since April 26 at $1,287.94.

U.S. gold futures edged 0.2 percent higher to $1,288.30 an ounce.

“Gold is being supported by risk-aversion buying at the moment. But, there is no change in the underlying momentum in overall sentiment, which seems to be soft,” said Jeffrey Halley, senior market analyst, Asia Pacific at OANDA.

MSCI’s broadest index of Asia-Pacific shares outside Japan to its lowest level since late March, tracking Wall Street’s slide.

U.S. President Donald Trump tweeted on Sunday he would raise tariffs on $200 billion worth of Chinese goods, while Washington accused Beijing of backtracking from commitments made during trade negotiations.

Chinese Vice Premier Liu He will visit the United States on Thursday for trade talks and additional tariffs are set to take effect on Friday if a trade agreement is not reached by then.

“Investments are moving into high quality government bonds and Japanese yen rather than gold. Gold should remain supported at least if there is no progress in trade talks. But is probably going to test $1,260 levels if the talks go well,” Halley said.

While gold has managed to gain as demand for safe-haven assets have risen, prices have not been able to significantly move up despite the given backdrop in global markets.

“Downside risks to growth from higher tariffs and the potential for equity weakness and lower yields should support gold. But potential upside to the dollar would likely act as a headwind to gold,” UBS said in a research note.

While gold staying above $1,280 is encouraging, the extent of the dovish shift in U.S. Federal Reserve’s expectations has made gold vulnerable to improvement in the data during a time when physical markets tend to be mostly quieter due to a weak Chinese demand, UBS said.

Gold came under pressure last week after the Fed dashed hopes of an interest rate cut this year.

Meanwhile, holdings of SPDR Gold, the world’s largest gold-backed exchange-traded fund, saw a slight uptick on Tuesday after a dismal run.

Holdings are still at their lowest level since October 2018.

Also, Indians were expected to buy at least 10 percent more gold during the annual Hindu and Jain holy festival of Akshaya Tritiya than a year ago, supporting physical demand in Asia.

Silver rose 0.4 percent to $14.94 an ounce, while platinum gained 0.3 percent to $870.50.

Palladium was steady at $1,330 an ounce.


Company: cnbc, Activity: cnbc, Date: 2019-05-08
Keywords: news, cnbc, companies, trade, dampen, tariffs, risk, ounce, week, high, potential, 1week, hits, jitters, gold, appetite, demand, ubs, supported, talks


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Yen gains as growth concerns dampen risk appetite; Aussie stumbles

The yen gained 0.3 percent against the dollar to 109.39 in Asian trade. The yen has strengthened for three straight weeks on investors’ lower appetite for risk. Traders expect the single currency to remain under pressure as both growth and inflation in the eurozone remain below the European Central Bank’s expectations. The euro lost 4.4 percent of its value versus the dollar in 2018. Commodity currencies such as the Canadian dollar weakened as oil prices fell on fears of slowing global demand.


The yen gained 0.3 percent against the dollar to 109.39 in Asian trade. The yen has strengthened for three straight weeks on investors’ lower appetite for risk. Traders expect the single currency to remain under pressure as both growth and inflation in the eurozone remain below the European Central Bank’s expectations. The euro lost 4.4 percent of its value versus the dollar in 2018. Commodity currencies such as the Canadian dollar weakened as oil prices fell on fears of slowing global demand.
Yen gains as growth concerns dampen risk appetite; Aussie stumbles Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-02
Keywords: news, cnbc, companies, stumbles, appetite, dampen, remain, trade, aussie, global, months, economy, risk, yen, traders, versus, gains, dollar, growth, rates, concerns


Yen gains as growth concerns dampen risk appetite; Aussie stumbles

Safe-haven currencies such as the yen rose against the dollar on Wednesday, as a cautious mood prevailed on the first trading day of the year on concerns over global growth, the U.S. government shutdown and a slower pace of Federal Reserve rate hikes.

The yen gained 0.3 percent against the dollar to 109.39 in Asian trade. Trading volumes remained light as global markets reopened after the New Year’s Day holiday. Japanese markets remain closed on Wednesday.

The yen has strengthened for three straight weeks on investors’ lower appetite for risk.

“It’s still difficult to be strongly positive given all the uncertainties. Hopefully, there will be progress on trade talks but the market is cautious and that’s benefiting the safe havens such as the yen,” said Sim Moh Siong, currency strategist at Bank of Singapore.

Fears of a global slowdown were aggravated on Wednesday by a survey showing China’s factory activity contracted for the first time in 19 months in December as domestic and export orders continued to weaken.

With business conditions expected to get worse before they get better, China is expected to roll out more support measures in coming months on top of a raft of initiatives in 2018.

“This data confirms our view that the economy is weak and that stimulus needs to arrive quickly,” said analysts at ING in a note.

ING expects the Chinese government to speed up the delivery of infrastructure investment to support the economy, which will mainly be through projects governed by local governments.

The Australian dollar, whose fortunes largely depend on the Chinese economy to which Australia sends a bulk of its commodities, fell 0.5 percent to $0.7016.

The dollar gained 0.05 percent versus the offshore yuan at 6.8681.

While market participants remain concerned about the broader investment outlook, renewed hopes for a resolution to the U.S.-Sino trade dispute have provided some cause for optimism. On Sunday, U.S. President Donald Trump indicated that progress had been made toward a potential settlement of trade tensions which had plagued stock markets for much of 2018.

On Wednesday, the dollar index was relatively unchanged from Monday’s close, fetching 96.17.

Rising interest rates drove the dollar’s outperformance in 2018 with the Fed raising rates four times over the year, as unemployment remained at historically low levels and wage pressures rose.

However, the dollar has been under pressure in recent weeks as investors grow increasingly nervous about a slowdown in the U.S. economy and peak corporate earnings growth.

The U.S. 10-year Treasury yield fell by around 35 basis points over December to 2.69 percent as bond traders bet that the Fed would not be able to raise rates in 2019 due to slowing economic momentum.

The euro slipped 0.16 percent to $1.1446. Traders expect the single currency to remain under pressure as both growth and inflation in the eurozone remain below the European Central Bank’s expectations. The euro lost 4.4 percent of its value versus the dollar in 2018.

Elsewhere, sterling weakened by 0.15 percent to $1.2728. The British pound lost 5.5 percent versus the greenback last year due to Brexit woes.

With three months until the United Kingdom is due to leave the European Union, British Prime Minister Theresa May’s Brexit deal is floundering and traders expect sterling to remain under pressure.

Commodity currencies such as the Canadian dollar weakened as oil prices fell on fears of slowing global demand. The dollar gained 0.07 percent versus the loonie to C$1.3647.


Company: cnbc, Activity: cnbc, Date: 2019-01-02
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Stocks little changed as Trump legal issues, US-China trade dampen market sentiment

Stocks traded little changed on Thursday as renewed legal issues and an ongoing trade war between the U.S. and China hindered investor sentiment. In an interview with “Fox and Friends,” Trump said: “If I ever got impeached, I think the market would crash. Still, the market does not seem to care about Trump’s legal issues at this point, said Nicholas Colas, co-founder of DataTrek Research, in a note. Trade between the U.S. and China also weighed on sentiment as tariffs on $16 billion worth of Chi


Stocks traded little changed on Thursday as renewed legal issues and an ongoing trade war between the U.S. and China hindered investor sentiment. In an interview with “Fox and Friends,” Trump said: “If I ever got impeached, I think the market would crash. Still, the market does not seem to care about Trump’s legal issues at this point, said Nicholas Colas, co-founder of DataTrek Research, in a note. Trade between the U.S. and China also weighed on sentiment as tariffs on $16 billion worth of Chi
Stocks little changed as Trump legal issues, US-China trade dampen market sentiment Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-23  Authors: fred imbert, ryan browne
Keywords: news, cnbc, companies, china, think, trade, stocks, little, trumps, dampen, sentiment, issues, market, worth, trump, traded, tariffs, uschina, legal


Stocks little changed as Trump legal issues, US-China trade dampen market sentiment

Stocks traded little changed on Thursday as renewed legal issues and an ongoing trade war between the U.S. and China hindered investor sentiment.

The Dow Jones Industrial Average slipped 38 points as DowDuPont and Caterpillar fell. The S&P 500 traded just below breakeven as energy shares lagged. The Nasdaq Composite declined marginally.

President Donald Trump’s former lawyer, Michael Cohen, pleaded guilty to eight counts related to tax fraud, campaign contributions, making false statements to a financial institution, and unlawful corporate contributions. Cohen also admitted to making payments to two women at the direction of Trump. Meanwhile, former Trump campaign manager Paul Manafort was found guilty on eight counts in a separate case.

The legal troubles have raised questions about whether Trump will remain in office. In an interview with “Fox and Friends,” Trump said: “If I ever got impeached, I think the market would crash. I think everybody would be very poor.”

Still, the market does not seem to care about Trump’s legal issues at this point, said Nicholas Colas, co-founder of DataTrek Research, in a note. “That US stocks recovered [Wednesday] is a good reminder that 2018 is not 1974,” Colas wrote.

“Back then, oil prices had just risen 4x and the global system of fixed exchange rates was imploding” as former President Richard Nixon resigned under the threat of impeachment, he said. “Now, rates are low, the dollar is strong and corporate earnings remain robust. Those are the only things stock prices can (and should) actually discount.”

Trade between the U.S. and China also weighed on sentiment as tariffs on $16 billion worth of Chinese import product categories took effect on Thursday. Beijing retaliated with its own fresh tariffs on $16 billion worth of imports.

The U.S. and China held talks on Wednesday that are set to continue into Thursday, but observers did not have high hopes after President Donald Trump said he did not “anticipate much” to be resolved, in an interview with Reuters.

Weekly jobless claims slipped by 2,000 to 210,000 last week despite the ongoing trade worries, the Labor Department said. Economists polled by Reuters expected claims to rise to 215,000.

The data come as leading central bankers meet for an economic symposium at Jackson Hole in Wyoming, where they will discuss the future of monetary policy. Federal Reserve Chair Jerome Powell will address attendees in a speech Friday.

—CNBC’s Huileng Tan contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2018-08-23  Authors: fred imbert, ryan browne
Keywords: news, cnbc, companies, china, think, trade, stocks, little, trumps, dampen, sentiment, issues, market, worth, trump, traded, tariffs, uschina, legal


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Dollar on defensive after Fed minutes dampen rate hike prospects

“There’s no change in market expectations that the Fed will announce the start of balance sheet reduction in September. But markets think there’s risk to the scenario of a rate hike in December,” said Shunsuke Yamada, chief Japan FX strategist at Bank of America Merrill Lynch. Money market futures are pricing in about a 40 percent chance the Fed will raise rates by December, compared to just under 50 percent before the Fed’s minutes. The dollar’s diminishing rate hike prospects gave a big boost


“There’s no change in market expectations that the Fed will announce the start of balance sheet reduction in September. But markets think there’s risk to the scenario of a rate hike in December,” said Shunsuke Yamada, chief Japan FX strategist at Bank of America Merrill Lynch. Money market futures are pricing in about a 40 percent chance the Fed will raise rates by December, compared to just under 50 percent before the Fed’s minutes. The dollar’s diminishing rate hike prospects gave a big boost
Dollar on defensive after Fed minutes dampen rate hike prospects Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-08-16  Authors: getty images
Keywords: news, games, cnbc, companies, prospects, dollar, theres, market, dampen, rate, hike, debt, markets, fed, minutes, stood, defensive, raise


Dollar on defensive after Fed minutes dampen rate hike prospects

“There’s no change in market expectations that the Fed will announce the start of balance sheet reduction in September. But markets think there’s risk to the scenario of a rate hike in December,” said Shunsuke Yamada, chief Japan FX strategist at Bank of America Merrill Lynch.

Money market futures are pricing in about a 40 percent chance the Fed will raise rates by December, compared to just under 50 percent before the Fed’s minutes.

The dollar’s diminishing rate hike prospects gave a big boost to other major currencies that compete with the dollar for yield attraction.

The Canadian dollar had gained more than 1 percent on Wednesday and last stood at C$1.2622 to the dollar, near its highest level in almost two weeks.

The Australian dollar rose 1.3 percent, its biggest daily gain in about a month, on Wednesday and last stood at $0.7933, having erased its losses in the past week or so.

The U.S. dollar was also undermined by worries over U.S. President Donald Trump’s ability to implement his economic policies after he disbanded two high-profile business advisory councils.

The move came after several chief executives quit in protest over his remarks blaming weekend violence in Virginia not only on white nationalists but also on anti-racism activists who opposed them.

“I would expect more U.S. political risks in September as the debt ceiling issue will be coming up. We could see more volatilities in markets,” said Merrill’s Yamada.

The Congressional Budget Office has said U.S. lawmakers need to raise the debt ceiling by mid-October to avoid defaulting on debt payments.


Company: cnbc, Activity: cnbc, Date: 2017-08-16  Authors: getty images
Keywords: news, games, cnbc, companies, prospects, dollar, theres, market, dampen, rate, hike, debt, markets, fed, minutes, stood, defensive, raise


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