Shares of Sony and Nintendo tumble as Google unveils video game ambitions

By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy . Each morning, the “Beyond the Valley” newsletter brings you all the latest from the vast, dynamic world of tech – outside the Silicon Valley. Instead, all of the legwork to render those games will be handled by Google’s cloud, the company said. Google’s entrance into the gaming sector has raised questions about the future of companies such as Sony and Nintendo, which have long dominated the space along with


By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy . Each morning, the “Beyond the Valley” newsletter brings you all the latest from the vast, dynamic world of tech – outside the Silicon Valley. Instead, all of the legwork to render those games will be handled by Google’s cloud, the company said. Google’s entrance into the gaming sector has raised questions about the future of companies such as Sony and Nintendo, which have long dominated the space along with
Shares of Sony and Nintendo tumble as Google unveils video game ambitions Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-20  Authors: eustance huang, -serkan toto, ceo of kantan games
Keywords: news, cnbc, companies, ambitions, sony, game, google, microsoft, vast, terms, video, unveils, tumble, games, valleyon, nintendo, shares, valley, generation, consoles, world


Shares of Sony and Nintendo tumble as Google unveils video game ambitions

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

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

On Tuesday stateside, Google showed off its new game streaming platform, Stadia, which it claimed would allow people to play high-end games without shelling out hundreds of dollars for consoles or computers. Instead, all of the legwork to render those games will be handled by Google’s cloud, the company said.

Google’s entrance into the gaming sector has raised questions about the future of companies such as Sony and Nintendo, which have long dominated the space along with Microsoft. In particular, Sony and Microsoft are expected to announce more details about their next generation consoles in the coming months, with their current generation of consoles approaching the six-year-old mark.


Company: cnbc, Activity: cnbc, Date: 2019-03-20  Authors: eustance huang, -serkan toto, ceo of kantan games
Keywords: news, cnbc, companies, ambitions, sony, game, google, microsoft, vast, terms, video, unveils, tumble, games, valleyon, nintendo, shares, valley, generation, consoles, world


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Xiaomi shares plunge despite the Chinese tech giant’s earnings beat

Chinese smartphone maker Xiaomi saw its stock swoon during Wednesday trade despite posting a fourth-quarter earnings report that beat expectations the previous day. Xiaomi’s net profit for the fourth quarter more than tripled to 1.85 billion yuan (approx. $276 million), beating the 1.7 billion yuan average estimate of 10 analysts, according to Refinitiv data. Still, revenue for the period increased 27 percent to 44.4 billion yuan, which was lower than the 47.4 billion yuan average estimate of 13


Chinese smartphone maker Xiaomi saw its stock swoon during Wednesday trade despite posting a fourth-quarter earnings report that beat expectations the previous day. Xiaomi’s net profit for the fourth quarter more than tripled to 1.85 billion yuan (approx. $276 million), beating the 1.7 billion yuan average estimate of 10 analysts, according to Refinitiv data. Still, revenue for the period increased 27 percent to 44.4 billion yuan, which was lower than the 47.4 billion yuan average estimate of 13
Xiaomi shares plunge despite the Chinese tech giant’s earnings beat Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-20  Authors: eustance huang, josep lago, afp, getty images
Keywords: news, cnbc, companies, yuan, smartphone, chinese, earnings, plunge, billion, tech, successful, beat, reason, 2018, shares, refinitiv, according, revenue, despite, xiaomi, giants


Xiaomi shares plunge despite the Chinese tech giant's earnings beat

Chinese smartphone maker Xiaomi saw its stock swoon during Wednesday trade despite posting a fourth-quarter earnings report that beat expectations the previous day.

In Wednesday’s trading session in Hong Kong, shares of Xiaomi dropped 4.59 percent.

That move came a day after Xiaomi announced quarterly earnings that bested expectations. That’s despite 2018 being the “worst year ever for smartphone shipments,” according to market research company IDC, with tech heavyweights such as Apple and Samsung Electronics all warning of weakening sales.

Xiaomi’s net profit for the fourth quarter more than tripled to 1.85 billion yuan (approx. $276 million), beating the 1.7 billion yuan average estimate of 10 analysts, according to Refinitiv data.

Still, revenue for the period increased 27 percent to 44.4 billion yuan, which was lower than the 47.4 billion yuan average estimate of 13 analysts, according to Refinitiv data.

In an interview with CNBC’s “Squawk Box” ahead of the market open on Wednesday, Xiaomi CFO Shou Zi Chew attributed the company’s fourth-quarter performance to keeping efficiency at “a very high level.”

“Our entire operating expense for the year 2018 was still below 10 percent of our revenue and what we have done is, you know, we kept forcing ourselves to be more efficient as a company and return the savings to our users,” Chew said. “This is the reason why we were successful in 2018 and this is the reason why we will be successful going into the future.”


Company: cnbc, Activity: cnbc, Date: 2019-03-20  Authors: eustance huang, josep lago, afp, getty images
Keywords: news, cnbc, companies, yuan, smartphone, chinese, earnings, plunge, billion, tech, successful, beat, reason, 2018, shares, refinitiv, according, revenue, despite, xiaomi, giants


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Asian stocks rise as investors await Federal Reserve meeting

Major Asian stock markets closed higher on Monday as investors awaited developments on the U.S.-China trade front.The U.S. Federal Reserve was also set to begin its March policy meeting later in the week. Hong Kong’s Hang Seng index rose around 1 percent in its final hour of trading. Meanwhile, the U.S. and China looked to be closer to a trade deal, according to a Xinhua news report that both sides have made “concrete progress” on the text of the trade agreement. The news comes after CNBC report


Major Asian stock markets closed higher on Monday as investors awaited developments on the U.S.-China trade front.The U.S. Federal Reserve was also set to begin its March policy meeting later in the week. Hong Kong’s Hang Seng index rose around 1 percent in its final hour of trading. Meanwhile, the U.S. and China looked to be closer to a trade deal, according to a Xinhua news report that both sides have made “concrete progress” on the text of the trade agreement. The news comes after CNBC report
Asian stocks rise as investors await Federal Reserve meeting Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: eustance huang
Keywords: news, cnbc, companies, federal, meeting, await, shares, shenzhen, trade, rose, stocks, deal, rise, president, chinese, reserve, investors, index, close, asian, presumably


Asian stocks rise as investors await Federal Reserve meeting

Major Asian stock markets closed higher on Monday as investors awaited developments on the U.S.-China trade front.The U.S. Federal Reserve was also set to begin its March policy meeting later in the week.

Mainland Chinese shares advanced on the day, as the Shanghai composite jumped 2.47 percent to close at 3,096.42 and the Shenzhen component gained 3.067 percent to finish at 9,843.43. The Shenzhen composite also added 2.706 percent to close at 1,685.79.

Hong Kong’s Hang Seng index rose around 1 percent in its final hour of trading. Shares of rail operator MTR declined about 0.3 percent after a train collision disrupted services in the city.

The Nikkei 225 in Japan rose 0.62 percent to close at 21,584.50 as shares of index heavyweights Fast Retailing, Softbank Group and Fanuc all advanced. The Topix index also added 0.69 percent to finish at 1,613.68.

Over in South Korea, the Kospi closed 0.16 percent higher at 2,179.49 as shares of automaker Hyundai Motor jumped 2.48 percent. The ASX 200 in Australia gained 0.25 percent to close at 6,190.50, with most sectors rising.

Meanwhile, the U.S. and China looked to be closer to a trade deal, according to a Xinhua news report that both sides have made “concrete progress” on the text of the trade agreement.

The news comes after CNBC reported Thursday that Chinese negotiators suggest combining a state visit to the U.S. with the signing of a trade deal. Beijing wants a deal to be fully ironed out before Chinese President Xi Jinping meets with U.S. President Donald Trump.

“While there is presumably a strong US political imperative to get a deal done ahead of next year’s elections, and presumably China is keen to bed down this issue, and while we expect a deal to be proclaimed, we can only believe it once it’s seen,” David de Garis, a director and senior economist at National Australia Bank, said in a morning note.


Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: eustance huang
Keywords: news, cnbc, companies, federal, meeting, await, shares, shenzhen, trade, rose, stocks, deal, rise, president, chinese, reserve, investors, index, close, asian, presumably


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Shanghai stocks plummet more than 4 percent: ‘China’s trade recession has started to emerge’

Shares in mainland China crumbled on Friday after Chinese trade data missed expectations by a wide margin. China on Friday reported worse than expected trade data for the month of February. China’s February trade balance was also significantly weaker than expected at $4.12 billion. The country’s trade balance in January had been $39.16 billion. In a note on Friday, ANZ said the release of the trade numbers reinforced its view that “China’s trade recession has started to emerge.”


Shares in mainland China crumbled on Friday after Chinese trade data missed expectations by a wide margin. China on Friday reported worse than expected trade data for the month of February. China’s February trade balance was also significantly weaker than expected at $4.12 billion. The country’s trade balance in January had been $39.16 billion. In a note on Friday, ANZ said the release of the trade numbers reinforced its view that “China’s trade recession has started to emerge.”
Shanghai stocks plummet more than 4 percent: ‘China’s trade recession has started to emerge’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-08  Authors: eustance huang, weizhen tan, str, afp, getty images
Keywords: news, cnbc, companies, chinese, note, sentiment, shares, balance, chinas, release, expected, emerge, data, trade, shenzhen, shanghai, plummet, started, stocks, recession


Shanghai stocks plummet more than 4 percent: 'China's trade recession has started to emerge'

Shares in mainland China crumbled on Friday after Chinese trade data missed expectations by a wide margin.

All major Chinese indexes closed the day deep in negative territory. The Shanghai composite plunged 4.4 percent, the Shenzhen component tumbled 3.248 percent and the Shenzhen composite dropped 3.791 percent. The CSI 300, which tracks the largest shares on the mainland, plummeted nearly 4 percent.

The significant losses in Chinese stocks came as overall sentiment in Asia was downbeat for the day. MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 1.5 percent, as of 3:14 p.m. HK/SIN.

China on Friday reported worse than expected trade data for the month of February. Dollar-denominated exports plunged 20.7 percent for the month from a year ago, missing economists’ expectations of a 4.8 percent decline, according to a Reuters poll. February’s dollar-denominated imports, meanwhile, fell 5.2 percent from the prior year, missing an expected 1.4 percent fall.

China’s February trade balance was also significantly weaker than expected at $4.12 billion. Economists polled by Reuters had expected the overall trade balance to come in at $26.38 billion. The country’s trade balance in January had been $39.16 billion.

In a note on Friday, ANZ said the release of the trade numbers reinforced its view that “China’s trade recession has started to emerge.”

China will require a stronger dose of stimulus to support growth, said Raymond Yeung, ANZ Research’s chief economist for Greater China.

“Looking ahead, we find little reason to expect a rebound in the near term on the back of a sluggish global electronics cycle,” he explained in the note, adding that Asia’s export figures are pointing to a “sobering” outlook.

That sentiment was echoed by Louis Kuijs, head of Asia economics at Oxford Economics.

“We expect subdued global trade and the impact of US tariffs to continue to weigh on exports in the coming months, although the tariff suspension by the US and China and increased likelihood of a more lasting agreement should help eventually,” Kuijs said in a note following Friday’s data release.

— CNBC’s Huileng Tan contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-03-08  Authors: eustance huang, weizhen tan, str, afp, getty images
Keywords: news, cnbc, companies, chinese, note, sentiment, shares, balance, chinas, release, expected, emerge, data, trade, shenzhen, shanghai, plummet, started, stocks, recession


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Stocks in Asia tumble; China leads losses after trade data disappoints

Stocks in major Asian stock markets closed lower on Friday as investors grappled with fresh concerns over the state of the global economy, with Chinese trade data for February coming in below expectations. Chinese customs data on Friday showed that dollar-denominated exports for China fell 20.7 percent for the month of February from a year ago, missing a 4.8 percent decline that economists polled by Reuters had expected. Dollar-denominated imports fell 5.2 percent in February from a year ago, mi


Stocks in major Asian stock markets closed lower on Friday as investors grappled with fresh concerns over the state of the global economy, with Chinese trade data for February coming in below expectations. Chinese customs data on Friday showed that dollar-denominated exports for China fell 20.7 percent for the month of February from a year ago, missing a 4.8 percent decline that economists polled by Reuters had expected. Dollar-denominated imports fell 5.2 percent in February from a year ago, mi
Stocks in Asia tumble; China leads losses after trade data disappoints Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-08  Authors: eustance huang
Keywords: news, cnbc, companies, slowdown, leads, missing, global, think, china, tumble, trade, data, shenzhen, market, asia, stocks, disappoints, fell, investors, losses


Stocks in Asia tumble; China leads losses after trade data disappoints

Stocks in major Asian stock markets closed lower on Friday as investors grappled with fresh concerns over the state of the global economy, with Chinese trade data for February coming in below expectations.

Mainland Chinese shares cratered on the day, with the Shanghai composite falling 4.4 percent to close at 2,969.86 and the Shenzhen component slipping 3.248 percent to finish at 9,363.72. The Shenzhen composite shed 3.791 percent to close at 1,605.28.

Hong Kong’s Hang Seng index declined more than 1.8 percent in its final hour of trading.

Chinese customs data on Friday showed that dollar-denominated exports for China fell 20.7 percent for the month of February from a year ago, missing a 4.8 percent decline that economists polled by Reuters had expected.

Dollar-denominated imports fell 5.2 percent in February from a year ago, missing economists’ forecast of a 1.4 percent fall.

Analysts, however, say data from China in the first two months of the year must be treated with caution due to business distortions caused by the timing of the week-long Lunar New Year public holiday which started on Feb. 4 this year.

“A 20-percent decline is a big number. I think the market is clearly disappointed by this,” Sarah Lien, a director and client portfolio manager at Eastspring Investments (Singapore), told CNBC’s “Capital Connection” on Friday. “But to put things into perspective, I think we’ve been talking about a global growth slowdown and a China slowdown for a long time now, so it’s not completely unexpected to see a negative number.”

Lien added that Eastspring remained “very bullish” on China, and the country’s long-term outlook looked constructive. In particular, she pointed to China’s “hugely growing” domestic market, where there was “plenty of opportunity” for investors.


Company: cnbc, Activity: cnbc, Date: 2019-03-08  Authors: eustance huang
Keywords: news, cnbc, companies, slowdown, leads, missing, global, think, china, tumble, trade, data, shenzhen, market, asia, stocks, disappoints, fell, investors, losses


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Mainland China shares bounce as stimulus measures boost confidence

Mainland Chinese shares bounced strongly on Wednesday afternoon as markets took hope in stimulus measures announced by Beijing on Tuesday. The Shanghai composite surged 1.57 percent to close at 3,102.10 and the Shenzhen component rose 1.09 percent to end the day at 9,700.49. Stimulus measures announced by Beijing on Tuesday included infrastructure spending and cuts in taxes and fees worth nearly 2 trillion yuan ($289.28 billion). Shares of Fast Retailing, the company behind the Uniqlo chain of a


Mainland Chinese shares bounced strongly on Wednesday afternoon as markets took hope in stimulus measures announced by Beijing on Tuesday. The Shanghai composite surged 1.57 percent to close at 3,102.10 and the Shenzhen component rose 1.09 percent to end the day at 9,700.49. Stimulus measures announced by Beijing on Tuesday included infrastructure spending and cuts in taxes and fees worth nearly 2 trillion yuan ($289.28 billion). Shares of Fast Retailing, the company behind the Uniqlo chain of a
Mainland China shares bounce as stimulus measures boost confidence Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: eustance huang
Keywords: news, cnbc, companies, bounce, measures, rose, mainland, shares, confidence, close, boost, second, mousina, shenzhen, slipped, half, stimulus, numbers, china


Mainland China shares bounce as stimulus measures boost confidence

Mainland Chinese shares bounced strongly on Wednesday afternoon as markets took hope in stimulus measures announced by Beijing on Tuesday.

The Shanghai composite surged 1.57 percent to close at 3,102.10 and the Shenzhen component rose 1.09 percent to end the day at 9,700.49. The Shenzhen composite jumped 1.49 percent to close at 1,660.41.

Hong Kong’s Hang Seng index also traded in positive territory, adding 0.17 percent.

Stimulus measures announced by Beijing on Tuesday included infrastructure spending and cuts in taxes and fees worth nearly 2 trillion yuan ($289.28 billion).

The rest of Asia was more subdued. Japan’s Nikkei 225 declined 0.6 percent to close at 21,596.81, and the Topix slipped 0.25 percent to end at 1,615.25. Shares of Fast Retailing, the company behind the Uniqlo chain of apparel stores, fell more than 2 percent.

In South Korea, the Kospi slipped 0.17 percent to close at 2,175.60 with industry heavyweight Samsung Electronics recovering slightly to slip 0.56 percent, from steeper declines earlier.

Australia’s ASX 200 rose 0.64 percent, but the Australian dollar dropped to a two-month low of $0.7031, last changing hands at $0.7034. Data on Wednesday showed the country’s economy slowed sharply in the second half of last year.

“Overall, it was a pretty weak print,” Diana Mousina, senior economist at AMP Capital, told CNBC’s “Squawk Box” on Wednesday following the release of Australian GDP data.

“It’s really in line with the slowing global growth that we’ve had over the second half of the year and I guess that the difficulty for us is reconciling the very strong employment numbers that Australia has had with the weakness in GDP numbers,” Mousina said.


Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: eustance huang
Keywords: news, cnbc, companies, bounce, measures, rose, mainland, shares, confidence, close, boost, second, mousina, shenzhen, slipped, half, stimulus, numbers, china


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JP Morgan says China’s slowing growth is ‘entirely natural’

Amid worries over China’s economy, one expert tells CNBC that the slowdown in the world’s second-largest economy is “entirely natural.” In fact, J.P. Morgan Asset Management’s Alexander Treves told CNBC there’s a bright spot for investors: the ability to invest in Chinese companies. That’s lower than last year’s 6.6 percent expansion, which was also its slowest pace since 1990. “That’s entirely natural as any economy develops,” Treves said. “What we care more about as equity investors is the qua


Amid worries over China’s economy, one expert tells CNBC that the slowdown in the world’s second-largest economy is “entirely natural.” In fact, J.P. Morgan Asset Management’s Alexander Treves told CNBC there’s a bright spot for investors: the ability to invest in Chinese companies. That’s lower than last year’s 6.6 percent expansion, which was also its slowest pace since 1990. “That’s entirely natural as any economy develops,” Treves said. “What we care more about as equity investors is the qua
JP Morgan says China’s slowing growth is ‘entirely natural’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-05  Authors: eustance huang, giulia marchi, bloomberg, getty images
Keywords: news, cnbc, companies, slowing, treves, told, chinas, morgan, investors, natural, jp, entirely, used, growth, economy


JP Morgan says China's slowing growth is 'entirely natural'

Amid worries over China’s economy, one expert tells CNBC that the slowdown in the world’s second-largest economy is “entirely natural.”

In fact, J.P. Morgan Asset Management’s Alexander Treves told CNBC there’s a bright spot for investors: the ability to invest in Chinese companies.

“I think we need to get used to a world in which … the GDP growth we see from China isn’t the sort of growth that we used to see 10 or 15 years ago,” Alexander Treves, investment specialist in emerging markets and Asia-Pacific equities at J.P. Morgan Asset Management, told CNBC’s “Capital Connection” on Tuesday.

China announced at a closely watched annual meeting of its parliament that the country’s economic growth target for 2019 would be set between 6.0 and 6.5 percent in 2019. That’s lower than last year’s 6.6 percent expansion, which was also its slowest pace since 1990.

“That’s entirely natural as any economy develops,” Treves said. “What we care more about as equity investors is the quality of the growth, so the sustainability and this has been a consistent policy theme over the last couple of years.”


Company: cnbc, Activity: cnbc, Date: 2019-03-05  Authors: eustance huang, giulia marchi, bloomberg, getty images
Keywords: news, cnbc, companies, slowing, treves, told, chinas, morgan, investors, natural, jp, entirely, used, growth, economy


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China markets jump amid hopes of a Sino-US trade deal

Stocks in mainland China advanced on Monday following reports that the U.S and China might be close to finalizing a trade deal, with Beijing offering to lower tariffs on certain U.S. products. By the end of its trading day, the Shanghai composite rose 1.12 percent to close at about 3,027.58 — breaching the 3,000 level for the first time since June 2018. Meanwhile, the Shenzhen component surged 2.364 percent to close at 9,384.42 and the Shenzhen composite added 2.214 percent to finish its trading


Stocks in mainland China advanced on Monday following reports that the U.S and China might be close to finalizing a trade deal, with Beijing offering to lower tariffs on certain U.S. products. By the end of its trading day, the Shanghai composite rose 1.12 percent to close at about 3,027.58 — breaching the 3,000 level for the first time since June 2018. Meanwhile, the Shenzhen component surged 2.364 percent to close at 9,384.42 and the Shenzhen composite added 2.214 percent to finish its trading
China markets jump amid hopes of a Sino-US trade deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-04  Authors: eustance huang
Keywords: news, cnbc, companies, lower, china, index, shenzhen, hopes, trading, rose, jump, close, sinous, deal, shares, advanced, heavyweight, trade, amid, day, markets


China markets jump amid hopes of a Sino-US trade deal

Stocks in mainland China advanced on Monday following reports that the U.S and China might be close to finalizing a trade deal, with Beijing offering to lower tariffs on certain U.S. products.

By the end of its trading day, the Shanghai composite rose 1.12 percent to close at about 3,027.58 — breaching the 3,000 level for the first time since June 2018. Meanwhile, the Shenzhen component surged 2.364 percent to close at 9,384.42 and the Shenzhen composite added 2.214 percent to finish its trading day at 1,599.48.

Hong Kong’s Hang Seng index also rose more than 0.7 percent in its final hour of trading, with shares of Chinese telecommunications equipment firm ZTE gaining 1.84 percent.

Other markets in Asia mostly gained. Japan’s Nikkei 225 advanced 1.02 percent to close at 21,822.04 as shares of index heavyweight Fanuc jumped 3.48 percent. The Topix was 0.73 percent higher to end its trading day at 1,627.59.

The ASX 200 in Australia rose 0.4 percent to close at 6,217.40, with the materials subindex gaining 0.66 percent. Shares of major miners advanced: Rio Tinto added 1.59 percent, Fortescue Metals Group soared 6.86 percent and BHP Billiton gained 1.18 percent.

In South Korea, however, the Kospi shed earlier gains to close 0.22 percent lower at 2,190.66 with industry heavyweight Samsung Electronics declining 0.55 percent.


Company: cnbc, Activity: cnbc, Date: 2019-03-04  Authors: eustance huang
Keywords: news, cnbc, companies, lower, china, index, shenzhen, hopes, trading, rose, jump, close, sinous, deal, shares, advanced, heavyweight, trade, amid, day, markets


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Credit Suisse on stocks: ‘We love China at the moment’

Credit Suisse sees further upside for the Chinese markets, even after shares on the mainland made their largest monthly gain in almost four years in February. “I think (the) China market is going to go up from here, all the signs are there,” Suresh Tantia, a senior investment strategist at Credit Suisse’s Asia-Pacific CIO Office, told CNBC’s “Capital Connection” on Friday. “If you’re a global equity fund manager, I think you need to be in China.” Tantia said there were a number of reasons behind


Credit Suisse sees further upside for the Chinese markets, even after shares on the mainland made their largest monthly gain in almost four years in February. “I think (the) China market is going to go up from here, all the signs are there,” Suresh Tantia, a senior investment strategist at Credit Suisse’s Asia-Pacific CIO Office, told CNBC’s “Capital Connection” on Friday. “If you’re a global equity fund manager, I think you need to be in China.” Tantia said there were a number of reasons behind
Credit Suisse on stocks: ‘We love China at the moment’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-01  Authors: eustance huang, -suresh tantia, senior investment strategist at credit suisses asi
Keywords: news, cnbc, companies, upside, love, think, uschina, moment, stocks, youre, suisse, china, told, tantia, trade, credit, signs, weak


Credit Suisse on stocks: 'We love China at the moment'

Credit Suisse sees further upside for the Chinese markets, even after shares on the mainland made their largest monthly gain in almost four years in February.

“I think (the) China market is going to go up from here, all the signs are there,” Suresh Tantia, a senior investment strategist at Credit Suisse’s Asia-Pacific CIO Office, told CNBC’s “Capital Connection” on Friday. “If you’re a global equity fund manager, I think you need to be in China.”

Tantia said there were a number of reasons behind his positive take on China.

One such factor was optimism over the state of the ongoing U.S.-China trade negotiations, he said: “There have been signs that, most likely, we will see some sort of deal taking place in the next few months.”

Furthermore, he added, China’s economy appears to be stabilizing despite the weak February manufacturing numbers from the country.


Company: cnbc, Activity: cnbc, Date: 2019-03-01  Authors: eustance huang, -suresh tantia, senior investment strategist at credit suisses asi
Keywords: news, cnbc, companies, upside, love, think, uschina, moment, stocks, youre, suisse, china, told, tantia, trade, credit, signs, weak


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South Korean stocks and won sell off after Trump-Kim summit is cut short without agreement

Shares in South Korea plummeted, while the Korean won also slipped, after the White House announced that the ongoing Vietnam summit between U.S. President Donald Trump and North Korean leader Kim Jong Un on Thursday had been cut short with no agreement reached. The Kospi in South Korea dropped 1.76 percent to close at 2,195.44 while the Kosdaq tumbled 2.78 percent to finish its trading day at 731.25. The Korean won slipped 0.42 percent to about 1,121.90 against the dollar after seeing an earlier


Shares in South Korea plummeted, while the Korean won also slipped, after the White House announced that the ongoing Vietnam summit between U.S. President Donald Trump and North Korean leader Kim Jong Un on Thursday had been cut short with no agreement reached. The Kospi in South Korea dropped 1.76 percent to close at 2,195.44 while the Kosdaq tumbled 2.78 percent to finish its trading day at 731.25. The Korean won slipped 0.42 percent to about 1,121.90 against the dollar after seeing an earlier
South Korean stocks and won sell off after Trump-Kim summit is cut short without agreement Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-28  Authors: eustance huang
Keywords: news, cnbc, companies, korea, sell, day, trading, trumpkim, short, index, stocks, summit, close, agreement, won, shares, korean, south, cut, slipped


South Korean stocks and won sell off after Trump-Kim summit is cut short without agreement

Shares in South Korea plummeted, while the Korean won also slipped, after the White House announced that the ongoing Vietnam summit between U.S. President Donald Trump and North Korean leader Kim Jong Un on Thursday had been cut short with no agreement reached.

The Kospi in South Korea dropped 1.76 percent to close at 2,195.44 while the Kosdaq tumbled 2.78 percent to finish its trading day at 731.25. Shares of industry heavyweight Samsung Electronics and chipmaker SK Hynix fell 3.53 percent and 5.02 percent, respectively. Shares of companies with potential exposure to North Korea were also hammered, with Hyundai Elevator diving 18.55 percent.

The Korean won slipped 0.42 percent to about 1,121.90 against the dollar after seeing an earlier high of 1,115.80, as of 3.05 p.m. HK/SIN.

Elsewhere in Asia, mainland Chinese stocks were mixed on the day, with the Shanghai composite declining 0.44 percent to close at 2,940.95, while the Shenzhen component advanced 0.290 percent to finish its trading day at 9,031.93. The Shenzhen composite rose 0.351 percent to close at 1,546.33.

Hong Kong’s Hang Seng index was down more than 0.4 percent in its final hour of trading.

China’s factory activity declined for the third consecutive month in February. The official Purchasing Manager’s Index slipped to 49.2 in February, data showed on Thursday — its weakest since February 2016. The 50-point index mark separates expansion from contraction on a monthly basis.

Japan’s Nikkei 225 and Topix both declined 0.79 percent to 21,385.16 and 1,607.66, respectively. Australia’s ASX 200 recovered from earlier losses to end its trading day higher by 0.3 percent at 6,169.00.


Company: cnbc, Activity: cnbc, Date: 2019-02-28  Authors: eustance huang
Keywords: news, cnbc, companies, korea, sell, day, trading, trumpkim, short, index, stocks, summit, close, agreement, won, shares, korean, south, cut, slipped


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