Hitachi to announce purchase of ABB’s power grid business: Nikkei

Hitachi and ABB will announce on Monday a plan for the Japanese conglomerate to buy the Swiss engineering group’s power grid business, paying up to $7 billion for an initial 50 percent stake, the Nikkei business daily reported. A source familiar with the situation has valued the power grid business at between $10 billion and $12 billion. Other sources have said that ABB could keep a stake in the power grid business via a joint venture with Hitachi. The Nikkei reported that the deal would see Hit


Hitachi and ABB will announce on Monday a plan for the Japanese conglomerate to buy the Swiss engineering group’s power grid business, paying up to $7 billion for an initial 50 percent stake, the Nikkei business daily reported. A source familiar with the situation has valued the power grid business at between $10 billion and $12 billion. Other sources have said that ABB could keep a stake in the power grid business via a joint venture with Hitachi. The Nikkei reported that the deal would see Hit
Hitachi to announce purchase of ABB’s power grid business: Nikkei Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: smith collection, gado, archive photos, getty images
Keywords: news, cnbc, companies, grid, power, abbs, announce, sell, stake, abb, purchase, nikkei, business, initial, billion, hitachi


Hitachi to announce purchase of ABB's power grid business: Nikkei

Hitachi and ABB will announce on Monday a plan for the Japanese conglomerate to buy the Swiss engineering group’s power grid business, paying up to $7 billion for an initial 50 percent stake, the Nikkei business daily reported.

The two companies, which have previously said they were in talks over the deal, will hold a news conference later on Monday, the business daily said.

The acquisition would allow Hitachi to boost its global presence in the power grid industry, while ABB, which also makes industrial robots, wants to offload its least profitable division to focus on areas such as automation.

A Hitachi spokesman declined to confirm the report, saying it was not something the company had announced.

A source familiar with the situation has valued the power grid business at between $10 billion and $12 billion.

Other sources have said that ABB could keep a stake in the power grid business via a joint venture with Hitachi.

The Nikkei reported that the deal would see Hitachi pay 600 billion-800 billion yen ($5.3 billion to $7 billion) for an initial 50 percent stake in the business.

ABB’s power grid business employs 36,000 people and had sales of $10.4 billion last year. It had an operating profit margin of 10.0 percent in the third quarter, down 60 basis points from a year earlier.

The decision to sell it marks a U-turn for ABB Chief Executive Ulrich Spiesshofer, who decided to keep the business two years ago despite calls from some shareholders to sell.


Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: smith collection, gado, archive photos, getty images
Keywords: news, cnbc, companies, grid, power, abbs, announce, sell, stake, abb, purchase, nikkei, business, initial, billion, hitachi


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Japan’s SoftBank to replace Huawei equipment, Nikkei reports

Japanese mobile carrier SoftBank will be replacing its hardware from Chinese tech giant Huawei in its 4G telecommunications network infrastructure over the next few years — and will instead be using equipment from Ericsson and Nokia, Nikkei Asian Review reported on Thursday. SoftBank is also expected to place orders with the two European companies for its 5G networks, Nikkei reported. SoftBank is the only telecom carrier in Japan that uses Huawei equipment, according to the news outlet. The 5G n


Japanese mobile carrier SoftBank will be replacing its hardware from Chinese tech giant Huawei in its 4G telecommunications network infrastructure over the next few years — and will instead be using equipment from Ericsson and Nokia, Nikkei Asian Review reported on Thursday. SoftBank is also expected to place orders with the two European companies for its 5G networks, Nikkei reported. SoftBank is the only telecom carrier in Japan that uses Huawei equipment, according to the news outlet. The 5G n
Japan’s SoftBank to replace Huawei equipment, Nikkei reports Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-13  Authors: huileng tan, kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, softbank, replace, reports, japans, network, huawei, telecommunications, using, reported, 5g, nikkei, carrier, equipment


Japan's SoftBank to replace Huawei equipment, Nikkei reports

Japanese mobile carrier SoftBank will be replacing its hardware from Chinese tech giant Huawei in its 4G telecommunications network infrastructure over the next few years — and will instead be using equipment from Ericsson and Nokia, Nikkei Asian Review reported on Thursday.

SoftBank is also expected to place orders with the two European companies for its 5G networks, Nikkei reported. SoftBank is the only telecom carrier in Japan that uses Huawei equipment, according to the news outlet.

The 5G network is the next telecommunications standard that facilitates quicker transfer of data, and allows more devices to connect to the internet.


Company: cnbc, Activity: cnbc, Date: 2018-12-13  Authors: huileng tan, kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, softbank, replace, reports, japans, network, huawei, telecommunications, using, reported, 5g, nikkei, carrier, equipment


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Shares of Japanese messaging app jump 17 percent after Nikkei reports Tencent tie-up

Line shares jumped as much as 17 percent on Tuesday after the Nikkei business daily reported the Japanese chat app operator would tie-up with China’s Tencent to offer mobile payment services. Line will offer mobile payment services to small to mid-sized Japanese restaurants and stores targeting Chinese tourists via leased terminals compatible with Tencent’s WeChat Pay starting next year, Nikkei said without citing sources. Line shares were later trading up 7.8 percent at 0235 GMT, compared with


Line shares jumped as much as 17 percent on Tuesday after the Nikkei business daily reported the Japanese chat app operator would tie-up with China’s Tencent to offer mobile payment services. Line will offer mobile payment services to small to mid-sized Japanese restaurants and stores targeting Chinese tourists via leased terminals compatible with Tencent’s WeChat Pay starting next year, Nikkei said without citing sources. Line shares were later trading up 7.8 percent at 0235 GMT, compared with
Shares of Japanese messaging app jump 17 percent after Nikkei reports Tencent tie-up Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-27  Authors: guillaume payen sopa images lightrocket via getty
Keywords: news, cnbc, companies, japanese, app, 17, pay, offer, tourists, line, nikkei, payment, trading, tieup, reports, shares, payments, jump, messaging, services, tencent


Shares of Japanese messaging app jump 17 percent after Nikkei reports Tencent tie-up

Line shares jumped as much as 17 percent on Tuesday after the Nikkei business daily reported the Japanese chat app operator would tie-up with China’s Tencent to offer mobile payment services.

Line will offer mobile payment services to small to mid-sized Japanese restaurants and stores targeting Chinese tourists via leased terminals compatible with Tencent’s WeChat Pay starting next year, Nikkei said without citing sources.

A Line spokeswoman declined to comment. Tencent was not immediately available to comment.

The news provided some relief for Line’s flagging stock price which is down 20 percent year-to-date as, with user numbers for its eponymous flagship app stagnating, Line expands services in areas like payments and Bitcoin.

Line shares were later trading up 7.8 percent at 0235 GMT, compared with flat trading in the benchmark index.

Tencent’s shares were up 0.5 percent. Its shares are down more than 25 percent this year, hammered by a prolonged regulatory crackdown on its core gaming business in China.

With growing numbers of Chinese tourists visiting Japan the country is becoming increasingly attractive for China’s tech titans, with Alibaba’s financial affiliate Ant Financial and Didi Chuxing announcing services in recent months.

Japan has been slow to move to cashless payments, with a rush of new entrants like SoftBank backed PayPay and Line Pay looking to encourage consumers to use QR code payments, which have become widespread in countries like China and India.


Company: cnbc, Activity: cnbc, Date: 2018-11-27  Authors: guillaume payen sopa images lightrocket via getty
Keywords: news, cnbc, companies, japanese, app, 17, pay, offer, tourists, line, nikkei, payment, trading, tieup, reports, shares, payments, jump, messaging, services, tencent


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Apple cancels production boost for iPhone XR: Nikkei

Apple has told its smartphone assemblers Foxconn and Pegatron to halt plans for additional production lines dedicated to the iPhone XR which hit shelves in October, the Nikkei reported on Monday. Apple had also asked smaller iPhone assembler Wistron to stand by for rush orders, but the company will receive no orders for the iPhone XR this season, the report said, citing supply chain sources. At its iPhone launch event in September, Apple introduced the lower-cost iPhone XR, made of aluminum, alo


Apple has told its smartphone assemblers Foxconn and Pegatron to halt plans for additional production lines dedicated to the iPhone XR which hit shelves in October, the Nikkei reported on Monday. Apple had also asked smaller iPhone assembler Wistron to stand by for rush orders, but the company will receive no orders for the iPhone XR this season, the report said, citing supply chain sources. At its iPhone launch event in September, Apple introduced the lower-cost iPhone XR, made of aluminum, alo
Apple cancels production boost for iPhone XR: Nikkei Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-05  Authors: source
Keywords: news, cnbc, companies, xr, iphone, boost, production, cancels, orders, xs, pegatron, nikkei, apple, launch, lines


Apple cancels production boost for iPhone XR: Nikkei

Apple has told its smartphone assemblers Foxconn and Pegatron to halt plans for additional production lines dedicated to the iPhone XR which hit shelves in October, the Nikkei reported on Monday.

Apple had also asked smaller iPhone assembler Wistron to stand by for rush orders, but the company will receive no orders for the iPhone XR this season, the report said, citing supply chain sources.

“For the Foxconn side, it first prepared nearly 60 assembly lines for Apple’s XR model, but recently uses only around 45 production lines as its top customer said it does not need to manufacture that many by now,” the Nikkei quoted a source as saying.

At its iPhone launch event in September, Apple introduced the lower-cost iPhone XR, made of aluminum, along with two other models, the XS and XS Max.

Five years ago, Apple cut production orders for its plastic-backed iPhone 5C a month after its launch, fueling speculation of weak demand for the model.

The Cupertino, California-based company warned last week that sales for the crucial holiday quarter would likely miss Wall Street expectations.

Apple did not immediately respond to Reuters’ request for comment.

Foxconn and Pegatron each said they would not comment on specific customers or products.

WATCH:Apple’s stock is plunging — Here’s what six experts say investors should know


Company: cnbc, Activity: cnbc, Date: 2018-11-05  Authors: source
Keywords: news, cnbc, companies, xr, iphone, boost, production, cancels, orders, xs, pegatron, nikkei, apple, launch, lines


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Asia stocks crumble: Shanghai topples more than 5%, Nikkei declines nearly 4%

Asia markets fell sharply on Thursday, with the stock indexes in Shanghai and Shenzhen both tumbling more than 5 percent. In the Greater China region, the Hang Seng index was down by 3.88 percent in afternoon trade. Over on the mainland, the Shanghai composite fell 5.22 percent to close at 2,583.46 and the Shenzhen composite plunged 6.445 percent to end at 1,293.90. The fall in the Shanghai index was its worst day since February 2016, according to Chinese financial services firm Wind Information


Asia markets fell sharply on Thursday, with the stock indexes in Shanghai and Shenzhen both tumbling more than 5 percent. In the Greater China region, the Hang Seng index was down by 3.88 percent in afternoon trade. Over on the mainland, the Shanghai composite fell 5.22 percent to close at 2,583.46 and the Shenzhen composite plunged 6.445 percent to end at 1,293.90. The fall in the Shanghai index was its worst day since February 2016, according to Chinese financial services firm Wind Information
Asia stocks crumble: Shanghai topples more than 5%, Nikkei declines nearly 4% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: eustance huang
Keywords: news, cnbc, companies, shenzhen, day, fell, dropped, asia, shanghai, close, nearly, markets, nikkei, topples, end, stocks, index, crumble, composite, declines


Asia stocks crumble: Shanghai topples more than 5%, Nikkei declines nearly 4%

Asia markets fell sharply on Thursday, with the stock indexes in Shanghai and Shenzhen both tumbling more than 5 percent.

In the Greater China region, the Hang Seng index was down by 3.88 percent in afternoon trade. Over on the mainland, the Shanghai composite fell 5.22 percent to close at 2,583.46 and the Shenzhen composite plunged 6.445 percent to end at 1,293.90.

The fall in the Shanghai index was its worst day since February 2016, according to Chinese financial services firm Wind Information.

In Taiwan, the tech-heavy Taiex dropped by 6.31 percent to close at 9,806.11, with shares of lens maker and Apple supplier Largan Precision plunging 9.89 percent.

Japan’s markets also faltered. The Nikkei 225 dropped by 3.89 percent to close at 22,590.86 while the Topix index declined by 3.52 percent to end the trading day at 1,701.86, with major sectors down.


Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: eustance huang
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There’s a massive bull market that no one is talking about

Is it too late to catch up to the big bull run investors are missing? 21 Hours Ago | 03:06As the Dow Jones Industrial Average hit record highs Wednesday, another bull market is quietly raging on. Chad Morganlander, portfolio manager at Washington Crossing Advisors, sees a confluence of factors keeping this bull market rally going. On the very short term, though, I would be a little careful,” Cappelleri, chief market technician at Instinet, told “Trading Nation on Tuesday. The HEWJ Japan ETF, whi


Is it too late to catch up to the big bull run investors are missing? 21 Hours Ago | 03:06As the Dow Jones Industrial Average hit record highs Wednesday, another bull market is quietly raging on. Chad Morganlander, portfolio manager at Washington Crossing Advisors, sees a confluence of factors keeping this bull market rally going. On the very short term, though, I would be a little careful,” Cappelleri, chief market technician at Instinet, told “Trading Nation on Tuesday. The HEWJ Japan ETF, whi
There’s a massive bull market that no one is talking about Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-03  Authors: keris lahiff, toru hanai, scott mlyn, matthew staver, bloomberg, getty images, kcna, thomas barwick getty images, source, lawrence mcdonald
Keywords: news, cnbc, companies, etf, highs, morganlander, theres, nikkei, weeks, run, talking, ewj, bull, market, cappelleri, massive


There's a massive bull market that no one is talking about

Is it too late to catch up to the big bull run investors are missing? 21 Hours Ago | 03:06

As the Dow Jones Industrial Average hit record highs Wednesday, another bull market is quietly raging on.

Japan’s Nikkei reached a 27-year-high Tuesday as the yen weakened against the U.S. dollar. The Asian market index held close to those 1991 highs even after a decline during Wednesday’s session.

Chad Morganlander, portfolio manager at Washington Crossing Advisors, sees a confluence of factors keeping this bull market rally going.

“You have an accommodative monetary policy, a continuation of a fiscal push, or fiscal stimulus, you have GDP expectations that are now being revised higher so these are all tail winds for the Japanese market,” Morganlander told CNBC’s “Trading Nation” on Tuesday.

While the short-term forecasts show upside, Morganlander is more cautious for the longer term.

“Over the next several years, they still have this structural issue of a reduction of their population, capital spend that’s quite lackluster, and an indebted society,” said Morganlander. “We would be overweight in the short run but in the long run we’d still be somewhat more pragmatic on this asset class.”

The Nikkei’s sharp run-up in the last few weeks has technician Frank Cappelleri wary of a pullback.

“Long term that breakout could be very meaningful. On the very short term, though, I would be a little careful,” Cappelleri, chief market technician at Instinet, told “Trading Nation on Tuesday. “If you look at the EWJ, it was just up 7 percent in the last three weeks and that’s [one of] the biggest move we’ve seen over that time frame since January right before a big fall.”

From the end of 2017 to its January peak, the EWJ Japan ETF ran up 8 percent. Over the following two weeks, the ETF slumped 11 percent.

“Consider too that the EWJ itself is based in dollars so, at times, can move very differently than the Nikkei itself so there are some options available for investors on a hedge variety,” added Cappelleri. “The HEWJ looks much more like the Nikkei. It’s actually getting very close to its highs as well so I’d probably wait for a pullback and buy the breakout.”

The HEWJ Japan ETF, which strips out currency fluctuations, is up 3 percent so far this year, while the EWJ ETF has risen 0.3 percent.


Company: cnbc, Activity: cnbc, Date: 2018-10-03  Authors: keris lahiff, toru hanai, scott mlyn, matthew staver, bloomberg, getty images, kcna, thomas barwick getty images, source, lawrence mcdonald
Keywords: news, cnbc, companies, etf, highs, morganlander, theres, nikkei, weeks, run, talking, ewj, bull, market, cappelleri, massive


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Asia markets broadly positive as Nikkei touches highest intraday level since November 1991

Asia markets remained largely positive on Friday afternoon, amid gains in Japan’s Nikkei 225 which saw its highest intraday level in almost 27 years. The Nikkei 225 lost some gains but continued to trade higher by 1.25 percent in the afternoon, with most sectors still trading in positive territory. In the morning, the index saw its highest intraday levels since November 1991. Down Under, the ASX 200 also pared some of its gains but remained up by 0.37 percent during afternoon trade, with most se


Asia markets remained largely positive on Friday afternoon, amid gains in Japan’s Nikkei 225 which saw its highest intraday level in almost 27 years. The Nikkei 225 lost some gains but continued to trade higher by 1.25 percent in the afternoon, with most sectors still trading in positive territory. In the morning, the index saw its highest intraday levels since November 1991. Down Under, the ASX 200 also pared some of its gains but remained up by 0.37 percent during afternoon trade, with most se
Asia markets broadly positive as Nikkei touches highest intraday level since November 1991 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-28  Authors: eustance huang
Keywords: news, cnbc, companies, positive, asia, trading, bank, broadly, level, highest, markets, touches, 1991, saw, trade, index, intraday, afternoon, sectors, release, nikkei, remained, gains


Asia markets broadly positive as Nikkei touches highest intraday level since November 1991

Asia markets remained largely positive on Friday afternoon, amid gains in Japan’s Nikkei 225 which saw its highest intraday level in almost 27 years.

The Nikkei 225 lost some gains but continued to trade higher by 1.25 percent in the afternoon, with most sectors still trading in positive territory. In the morning, the index saw its highest intraday levels since November 1991.

The moves in Japanese stocks came after the release of data that showed the country’s unemployment rate fell 0.1 percent from the previous month to 2.4 percent. The country also saw an increase in its month-on-month industrial output in August, while retail sales in August was higher as compared to a year earlier.

In the Bank of Japan’s release of its summary of opinions for its meeting earlier in September, the central bank said “the contrast between the favorable U.S. economy and other economies is becoming more evident, mainly reflecting U.S. trade policy, and uncertainties regarding their outlook have been heightening as well.”

Down Under, the ASX 200 also pared some of its gains but remained up by 0.37 percent during afternoon trade, with most sectors still seeing gains. Commonwealth Bank of Australia’s share price, which was in decline for much of the trading week, saw gains of 0.49 percent on Friday afternoon.

Over in South Korea, however, the Kospi slumped by 0.47 percent, with industry heavyweight Samsung Electronics falling by 2 percent. Shares of Korea Aerospace Industries plunged by around 28 percent, following the company’s failed bid to build the U.S. Air Force’s next training aircraft.

In the the Greater China region, Hong Kong’s Hang Seng index extended gains by 0.62 percent, while the Shanghai composite rose 0.93 percent and the Shenzhen composite held on to gains of around 0.46 percent.

The Caixin Purchasing Managers’ Index for China’s manufacturing sector for September is scheduled to be released on Sunday.

According to estimates by Reuters, it is expected to come in at 50.5 points for September — below 50.6 points in August. A reading above 50 indicates expansion, while a reading below that signals contraction.


Company: cnbc, Activity: cnbc, Date: 2018-09-28  Authors: eustance huang
Keywords: news, cnbc, companies, positive, asia, trading, bank, broadly, level, highest, markets, touches, 1991, saw, trade, index, intraday, afternoon, sectors, release, nikkei, remained, gains


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Nikkei leads advance as Asian shares shrug off recent uncertainty over Turkey crisis

The Turkish lira traded at 6.9606 at 8:04 a.m. HK/SIN after touching a record low on Monday. The currency had pared some of its recent losses overnight after the Turkish central bank moved to calm market nerves. “The efforts announced by the Turkish central bank to stabilize the TRY (Turkish lira) appear to have assisted. The lira slipped 20 percent on Friday when tensions between the U.S. and Turkey increased last week. Wall Street slipped in the last session, with investor sentiment wobbly as


The Turkish lira traded at 6.9606 at 8:04 a.m. HK/SIN after touching a record low on Monday. The currency had pared some of its recent losses overnight after the Turkish central bank moved to calm market nerves. “The efforts announced by the Turkish central bank to stabilize the TRY (Turkish lira) appear to have assisted. The lira slipped 20 percent on Friday when tensions between the U.S. and Turkey increased last week. Wall Street slipped in the last session, with investor sentiment wobbly as
Nikkei leads advance as Asian shares shrug off recent uncertainty over Turkey crisis Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-14  Authors: cheang ming
Keywords: news, cnbc, companies, turkish, reported, asian, bank, uncertainty, advance, lira, leads, shares, turkey, shrug, slipped, currency, nikkei, crisis, try, finish, overnight, recent


Nikkei leads advance as Asian shares shrug off recent uncertainty over Turkey crisis

The Turkish lira traded at 6.9606 at 8:04 a.m. HK/SIN after touching a record low on Monday. The currency had pared some of its recent losses overnight after the Turkish central bank moved to calm market nerves.

“The efforts announced by the Turkish central bank to stabilize the TRY (Turkish lira) appear to have assisted. The TRY has not endured further depreciation in overnight trade, but it has not substantially declined either,” Richard Grace, chief currency strategist at Commonwealth Bank of Australia, said in a morning note.

The lira slipped 20 percent on Friday when tensions between the U.S. and Turkey increased last week. That came after no progress was made on the detention of U.S. pastor Andrew Brunson, who is charged with supporting a group blamed for an attempted coup in 2016 against the government of President Recep Tayyip Erdogan.

Wall Street slipped in the last session, with investor sentiment wobbly as a financial crisis in Turkey played out.

The Dow Jones Industrial Average slipped 0.5 percent, or 125.44 points, to close at 25,187.70, logging its fourth straight finish in negative territory. The S&P 500 edged down by 0.4 percent to end at 2,821.93 and the Nasdaq Composite shed 0.25 percent to finish the day at 7,819.71.

In Asian corporate news, Taiwanese contract manufacturer Foxconn on Monday reported second-quarter net profit came in at 14.49 billion Taiwan dollars ($567.25 million), Reuters reported. That was below an average estimate of T$21.94 billion in a Reuters poll.

In currencies, the dollar index, which tracks the U.S. currency against a basket of currencies, was mostly steady at 95.169.


Company: cnbc, Activity: cnbc, Date: 2018-08-14  Authors: cheang ming
Keywords: news, cnbc, companies, turkish, reported, asian, bank, uncertainty, advance, lira, leads, shares, turkey, shrug, slipped, currency, nikkei, crisis, try, finish, overnight, recent


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Asia markets trade cautiously; ASX flat, Nikkei down slightly in early trade

Asia markets were cautious in early trade on Thursday, following an overnight mixed session in the U.S. as renewed trade concerns offset strong gains in tech. In Australia, the benchmark ASX 200 traded near flat as the materials subindex declined 1.24 percent. Major mining names were down, with shares of Rio Tinto lower by 2.73 percent, Fortescue Metals down 0.92 percent and BHP down 1.74 percent. On Wednesday, Rio Tinto said its first-half profit rose 12 percent but that missed analyst estimate


Asia markets were cautious in early trade on Thursday, following an overnight mixed session in the U.S. as renewed trade concerns offset strong gains in tech. In Australia, the benchmark ASX 200 traded near flat as the materials subindex declined 1.24 percent. Major mining names were down, with shares of Rio Tinto lower by 2.73 percent, Fortescue Metals down 0.92 percent and BHP down 1.74 percent. On Wednesday, Rio Tinto said its first-half profit rose 12 percent but that missed analyst estimate
Asia markets trade cautiously; ASX flat, Nikkei down slightly in early trade Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-02  Authors: saheli roy choudhury, kiyoshi ota, bloomberg, getty images
Keywords: news, cnbc, companies, crude, rose, trade, cautiously, tinto, nikkei, markets, flat, early, traded, asx, asia, dollar, announced, slightly, rio, week, shares


Asia markets trade cautiously; ASX flat, Nikkei down slightly in early trade

Asia markets were cautious in early trade on Thursday, following an overnight mixed session in the U.S. as renewed trade concerns offset strong gains in tech.

In Australia, the benchmark ASX 200 traded near flat as the materials subindex declined 1.24 percent. Major mining names were down, with shares of Rio Tinto lower by 2.73 percent, Fortescue Metals down 0.92 percent and BHP down 1.74 percent.

On Wednesday, Rio Tinto said its first-half profit rose 12 percent but that missed analyst estimates. The global miner also announced plans to buy back an additional $1 billion in shares, aiming for completion by the end of February 2019.

Japan’s Nikkei 225 was down 0.21 percent while the Topix index traded near flat. In South Korea, the Kospi was down 0.14 percent.

The Trump administration announced it is looking at the possibility of slapping a 25 percent tariff on $200 billion worth of imported Chinese goods — from the initial 10 percent announced earlier.

“This comes after China said that blackmail will not work on them and that they would retaliate against the U.S. if additional trade measures are imposed,” said Daniel Hynes, from ANZ Research, in a morning note.

The Federal Reserve concluded a two-day meeting on monetary policy and left interest rates unchanged. The Wednesday decision was widely expected, but the central bank upgraded its view on the economy, calling it “strong.”

The U.S. dollar traded at 94.638 against the dollar index basket of currencies at 8:05 a.m. HK/SIN, rising from levels below 94.500 earlier in the week. The Japanese yen traded at 111.65 to the greenback while the Australian dollar fetched $0.7401.

Oil prices fell about 2 percent overnight following a surprise increase in U.S. crude inventory that led to renewed concerns about oversupply. U.S. crude inventories rose 3.8 million barrels in the previous week as imports jumped, according to the Energy Information Administration. The market was expecting a decrease of 2.8 million barrels.

U.S. crude futures fell 1.6 percent to $67.66 a barrel while global benchmark Brent lost 2.5 percent to $72.39 a barrel.


Company: cnbc, Activity: cnbc, Date: 2018-08-02  Authors: saheli roy choudhury, kiyoshi ota, bloomberg, getty images
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Asian shares trade mixed; Nikkei inches higher after Bank of Japan decision

Central banks were top of mind for investors, with the Bank of Japan keeping policy steady, as was widely expected, and making its policy framework more flexible for the long-term yield target. The BOJ maintained its target for the 10-year government bond yield at around zero percent. The slight adjustment followed earlier reports that the central bank could modify its policy in order to make its program more sustainable and help improve profitability of banks there. “Together, a stronger yen an


Central banks were top of mind for investors, with the Bank of Japan keeping policy steady, as was widely expected, and making its policy framework more flexible for the long-term yield target. The BOJ maintained its target for the 10-year government bond yield at around zero percent. The slight adjustment followed earlier reports that the central bank could modify its policy in order to make its program more sustainable and help improve profitability of banks there. “Together, a stronger yen an
Asian shares trade mixed; Nikkei inches higher after Bank of Japan decision Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-07-31  Authors: cheang ming
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Asian shares trade mixed; Nikkei inches higher after Bank of Japan decision

Central banks were top of mind for investors, with the Bank of Japan keeping policy steady, as was widely expected, and making its policy framework more flexible for the long-term yield target. The BOJ maintained its target for the 10-year government bond yield at around zero percent.

The slight adjustment followed earlier reports that the central bank could modify its policy in order to make its program more sustainable and help improve profitability of banks there.

“Together, a stronger yen and higher JGB (Japan government bond) yields have fanned speculation that the Bank of Japan may tweak its yield curve control policy at today’s meeting … In the end, the BOJ may be simply seeking more flexibility in achieving its inflation goal rather than abandoning its commitment to monetary stimulus,” said Philip Wee, FX strategist at DBS Bank, in a note published before the central bank’s decision was announced.

The yen slipped following the announcement, trading at 111.32 to the dollar at 12:22 p.m. HK/SIN, compared to levels around the 110 handle seen before.

The mixed session in Asia also came after U.S. stocks declined on the first trading day of the week, with sharp falls in major tech names contributing to the Nasdaq Composite’s 1.39 percent drop for the day. The tech-heavy index closed at 7,630 on Monday and has recorded a three-day decline of 3.86 percent, its largest since March.

So-called FANG stocks, referring to a group of large-cap technology sector shares, turned in a poor showing on Monday: Netflix led the declines and dropped 5.7 percent and Facebook lost 2.1 percent in the wake of its quarterly results and guidance disappointing last week.

The Federal Reserve’s Federal Open Market Committee, meanwhile, was due to begin its own monetary policy meeting on Tuesday U.S. hours, with a decision due on Wednesday. The Fed is expected to keep rates steady at the end of its meeting.

The dollar index, which tracks the dollar against a basket of currencies, pared some its losses made in the last session to trade at 94.433.

— CNBC’s Weizhen Tan contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2018-07-31  Authors: cheang ming
Keywords: news, cnbc, companies, asian, target, policy, yen, trade, nikkei, banks, mixed, decision, higher, dollar, bank, trading, central, yield, shares, inches, japan


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