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
Keywords: news, cnbc, companies, crude, rose, trade, cautiously, tinto, nikkei, markets, flat, early, traded, asx, asia, dollar, announced, slightly, rio, week, shares


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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
Keywords: news, cnbc, companies, asian, target, policy, yen, trade, nikkei, banks, mixed, decision, higher, dollar, bank, trading, central, yield, shares, inches, japan


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
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Nikkei drops 1.1% as dollar extends losses; rest of Asia trades lower

That, coupled with U.S. interest rate hikes, was making the U.S. lose its competitive edge as the dollar strengthened, Trump claimed. Trump said in a separate tweet in reference to the Fed that “[t]ightening now hurts all that we have done.” That came after the president told CNBC in an interview that he was “not thrilled” about the central bank hiking interest rates. The dollar index, which tracks the greenback against a basket of currencies, stood at 94.277 after stumbling in the last session.


That, coupled with U.S. interest rate hikes, was making the U.S. lose its competitive edge as the dollar strengthened, Trump claimed. Trump said in a separate tweet in reference to the Fed that “[t]ightening now hurts all that we have done.” That came after the president told CNBC in an interview that he was “not thrilled” about the central bank hiking interest rates. The dollar index, which tracks the greenback against a basket of currencies, stood at 94.277 after stumbling in the last session.
Nikkei drops 1.1% as dollar extends losses; rest of Asia trades lower Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-07-23  Authors: cheang ming
Keywords: news, cnbc, companies, losses, 11, told, president, lower, drops, trump, war, asia, nikkei, rest, interest, extends, interview, trades, dollar, tariffs, trade


Nikkei drops 1.1% as dollar extends losses; rest of Asia trades lower

The dollar extended its losses after Trump doubled down on his criticism of global monetary policy and the Federal Reserve, tweeting that “China, the European Union and others have been manipulating their currencies and interest rates lower.” That, coupled with U.S. interest rate hikes, was making the U.S. lose its competitive edge as the dollar strengthened, Trump claimed.

Trump said in a separate tweet in reference to the Fed that “[t]ightening now hurts all that we have done.” That came after the president told CNBC in an interview that he was “not thrilled” about the central bank hiking interest rates.

The dollar remained broadly weaker on the back of those comments after Friday’s slide. The dollar index, which tracks the greenback against a basket of currencies, stood at 94.277 after stumbling in the last session.

“We understand the political economy of the dollar is one that the administration wants a weaker dollar, whether it’s implicitly through their policy actions, their protectionist policies focusing on the current account deficit, or explicit, as we’ve heard from the president multiple times now,” Viraj Patel, FX strategist at ING, told CNBC’s “Squawk Box.”

An important focus for markets remains the U.S.-China trade war: Trump told CNBC in a recent interview that he was prepared to impose tariffs on all Chinese imports to the U.S. if he had to. “I’m ready to go to 500,” the president told CNBC’s Joe Kernen in an interview, referring to the $505.5 billion in goods from China the U.S. imported in 2017.

The U.S. and China have already exchanged new tariffs — each hitting $34 billion worth of goods from the other. The Trump administration has also announced a list of proposed duties on $200 billion in Chinese imports, although those tariffs are not yet in effect.

“The hope is that this bluster is a negotiation tactic that will be watered down during negotiations but increasingly it looks difficult to duck trade blowback,” Vishnu Varathan, head of economics and strategy at Mizuho Bank, wrote in a note.

Push back from France at the weekend’s G-20 meeting, meanwhile, makes it “abundantly clear that trade war risks are not likely to dissipate like water off a duck’s back; but instead it could be a slow burn and mounting risk with markets likely to have outbursts of risk off,” Varathan added.

Despite Trump’s recent remarks, stocks stateside finished the Friday session only marginally lower as strong corporate results releases balanced investors’ fear of the trade war and its implications for global economic growth. About 16.4 percent of S&P 500 companies had released their quarterly results as of Friday, with 83 percent of them topping expectations, according to FactSet.

The Dow Jones Industrial Average slipped 0.03 percent, or 6.38 points, to close at 25,058.12, the S&P 500 shed 0.09 percent to end at 2,801.83 and the Nasdaq Composite inched lower by 0.07 percent to 7,820.20.


Company: cnbc, Activity: cnbc, Date: 2018-07-23  Authors: cheang ming
Keywords: news, cnbc, companies, losses, 11, told, president, lower, drops, trump, war, asia, nikkei, rest, interest, extends, interview, trades, dollar, tariffs, trade


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Walmart reportedly wants to sell Japanese supermarket chain Seiyu

U.S. retailer Walmart Inc has decided to sell Japanese supermarket chain Seiyu and has already approached major retailers and private equity funds, the Nikkei business daily reported on Thursday. If realized, the sale could amount to around 300 billion to 500 billion yen ($2.7 billion to $4.5 billion), the Nikkei said, without citing its sources. Walmart has been looking to jumpstart its overseas business by retreating from lower-growth markets and investing in places like China and India. In ad


U.S. retailer Walmart Inc has decided to sell Japanese supermarket chain Seiyu and has already approached major retailers and private equity funds, the Nikkei business daily reported on Thursday. If realized, the sale could amount to around 300 billion to 500 billion yen ($2.7 billion to $4.5 billion), the Nikkei said, without citing its sources. Walmart has been looking to jumpstart its overseas business by retreating from lower-growth markets and investing in places like China and India. In ad
Walmart reportedly wants to sell Japanese supermarket chain Seiyu Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-07-12  Authors: scott olson, getty images
Keywords: news, cnbc, companies, sell, japan, billion, japanese, retailer, private, reportedly, international, seiyu, equity, retailers, walmart, wants, nikkei, supermarket, business, major, chain


Walmart reportedly wants to sell Japanese supermarket chain Seiyu

U.S. retailer Walmart Inc has decided to sell Japanese supermarket chain Seiyu and has already approached major retailers and private equity funds, the Nikkei business daily reported on Thursday.

If realized, the sale could amount to around 300 billion to 500 billion yen ($2.7 billion to $4.5 billion), the Nikkei said, without citing its sources.

Walmart said it does not comment on market speculation.

The world’s biggest retailer said last month it had sold an 80 percent stake in its Brazilian operations to private equity firm Advent International, exiting an underperforming business in its third major international deal since April.

Walmart has been looking to jumpstart its overseas business by retreating from lower-growth markets and investing in places like China and India.

In addition to competition from online retailers such as Amazon.com, retailers in Japan are grappling with sluggish consumer spending as the country struggles to escape from 15 years of deflation.

Other global retail giants have also exited Japan, including Tesco in 2011 and Carrefour in 2005.


Company: cnbc, Activity: cnbc, Date: 2018-07-12  Authors: scott olson, getty images
Keywords: news, cnbc, companies, sell, japan, billion, japanese, retailer, private, reportedly, international, seiyu, equity, retailers, walmart, wants, nikkei, supermarket, business, major, chain


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TPP: Malaysia’s Mahathir calls for review of Trans-Pacific trade pact

Malaysian Prime Minister Mahathir Mohamad called for a review of the Trans-Pacific Partnership trade agreement, saying smaller economies like Malaysia were at a disadvantage under the current terms. In an interview with Japan’s Nikkei published on Saturday, Mahathir said the trade pact — which includes Japan and Canada — should take into consideration the level of development of various countries. Mahathir did not reject the significance of agreements such as the TPP and he did not say whether h


Malaysian Prime Minister Mahathir Mohamad called for a review of the Trans-Pacific Partnership trade agreement, saying smaller economies like Malaysia were at a disadvantage under the current terms. In an interview with Japan’s Nikkei published on Saturday, Mahathir said the trade pact — which includes Japan and Canada — should take into consideration the level of development of various countries. Mahathir did not reject the significance of agreements such as the TPP and he did not say whether h
TPP: Malaysia’s Mahathir calls for review of Trans-Pacific trade pact Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-06-09  Authors: sanjit das, bloomberg, getty images, sergei bobylev, tass, david howells, corbis, essam al-sudani, andrew harrer
Keywords: news, cnbc, companies, withdrawal, trade, united, malaysia, calls, agreements, agreement, review, mahathir, pact, malaysias, nikkei, tpp, transpacific


TPP: Malaysia's Mahathir calls for review of Trans-Pacific trade pact

Malaysian Prime Minister Mahathir Mohamad called for a review of the Trans-Pacific Partnership trade agreement, saying smaller economies like Malaysia were at a disadvantage under the current terms.

In an interview with Japan’s Nikkei published on Saturday, Mahathir said the trade pact — which includes Japan and Canada — should take into consideration the level of development of various countries.

“Small, weaker economies must be given a chance to protect their products,” Mahathir told the Japanese financial daily. “We have to review” the TPP.

Mahathir’s call to review the TPP agreement would be a blow for the 11-member trade pact, which was finalize after tough negotiations earlier this year following the withdrawal of one of the original signatories, the United States.

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), as it is now called following the U.S. withdrawal, will reduce tariffs in countries that together amount to more than 13 percent of the global economy — a total of $10 trillion in gross domestic product.

With the United States, it would have represented 40 percent.

Mahathir did not reject the significance of agreements such as the TPP and he did not say whether he would consider leaving the trade pact altogether, Nikkei reported.

The 92-year-old took over as Malaysia’s prime minister last month after a stunning election victory over Najib Razak, promising to stamp out corruption and lower living costs.

He has immediately embarked on reviewing several projects and agreements signed by the Najib government. The premier has pulled out of a high speed rail project with Singapore and is reviewing a $14 billion local rail line to be built by Chinese companies.

In the Nikkei interview, Mahathir said his government “must review all agreements” entered into by the previous administration, including infrastructure, trade and security pacts.

He said Malaysia will review the Code of Conduct on the South China Sea, which is being negotiated between Beijing and the Association of Southeast Asian Nations (ASEAN).

Nikkei reported that Mahathir reiterated Malaysia did not want the presence of warships in the South China Sea and the Straits of Malacca.


Company: cnbc, Activity: cnbc, Date: 2018-06-09  Authors: sanjit das, bloomberg, getty images, sergei bobylev, tass, david howells, corbis, essam al-sudani, andrew harrer
Keywords: news, cnbc, companies, withdrawal, trade, united, malaysia, calls, agreements, agreement, review, mahathir, pact, malaysias, nikkei, tpp, transpacific


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Most Asian markets close lower as trade concerns return to focus; Nikkei falls more than 250 points

South Korea’s benchmark Kospi, meanwhile, gave up early gains to close lower by 0.24 percent at 2,466.01. Greater China markets were narrowly mixed. MSCI’s index of shares in Asia Pacific excluding Japan tacked on 0.18 percent in Asia afternoon trade. The surprise announcement comes at a time of worsening friction over international trade between the United States and its allies. Stocks of South Korean automakers were broadly lower on Thursday, with Hyundai Motor down 3.11 percent and Kia Motors


South Korea’s benchmark Kospi, meanwhile, gave up early gains to close lower by 0.24 percent at 2,466.01. Greater China markets were narrowly mixed. MSCI’s index of shares in Asia Pacific excluding Japan tacked on 0.18 percent in Asia afternoon trade. The surprise announcement comes at a time of worsening friction over international trade between the United States and its allies. Stocks of South Korean automakers were broadly lower on Thursday, with Hyundai Motor down 3.11 percent and Kia Motors
Most Asian markets close lower as trade concerns return to focus; Nikkei falls more than 250 points Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-05-23  Authors: cheang ming, alexander koerner getty images, ali mohammadi bloomberg via getty images, andrew harrer, bloomberg, getty images, patrick t fallon, harriet taylor
Keywords: news, cnbc, companies, index, trump, hksin, china, nikkei, bank, points, markets, motor, gains, focus, trade, lower, concerns, return, falls, asia, close


Most Asian markets close lower as trade concerns return to focus; Nikkei falls more than 250 points

Down Under, the S&P/ASX 200 edged up 0.08 percent to end at 6,037.10, with the heavily weighted financials subindex weighing. South Korea’s benchmark Kospi, meanwhile, gave up early gains to close lower by 0.24 percent at 2,466.01.

Greater China markets were narrowly mixed. The Hang Seng Index edged higher by 0.07 percent by 3:02 p.m. HK/SIN and on the mainland, the Shanghai composite slipped 0.44 percent to 3,154.89. MSCI’s index of shares in Asia Pacific excluding Japan tacked on 0.18 percent in Asia afternoon trade.

The U.S. Department of Commerce started an investigation into automobile imports on a “national security” basis, the agency announced Wednesday during U.S. hours. The surprise announcement comes at a time of worsening friction over international trade between the United States and its allies.

Stocks of South Korean automakers were broadly lower on Thursday, with Hyundai Motor down 3.11 percent and Kia Motors sliding 2.82 percent. Japanese automakers, which had been under pressure from the firmer yen, also saw declines: Toyota Motor lost 3.05 percent and Honda Motor fell 3.39 percent.

The latest trade-related development came after U.S. President Donald Trump said Wednesday that the current framework used in trade talks with China was “too hard to get done.” Trump had said he was “not satisfied” with recent negotiations with China earlier in the week.

“It’s not clear what the end game is here because this is not a game anymore of just targeting a particular country. This obviously has spillovers into your own country, but also into other allies as well, so again, I wouldn’t get hung up over the economics of all of this,” Dwyfor Evans, head of Asia Pacific macro strategy at State Street Global Markets, told CNBC’s “Squawk Box.”

“I would think of this purely as probably a six-month run-up to the mid-term [elections in the U.S.],” he added.

Markets in Southeast Asia were mixed, Singapore’s Straits Times Index rose 0.72 percent and the Jakarta Composite was up 2.63 percent at 3:04 p.m. HK/SIN, while Malaysia’s KLCI was lower by 1.4 percent.

On Wednesday, U.S. stocks finished the last session with slight gains after the Federal Reserve said in its minutes that it was comfortable with inflation temporarily running above their target of 2 percent.

The minutes from the Fed’s latest meeting in May showed officials at the central bank generally thought inflation would continue to rise, but differences arose over how confident the Fed should be after years of undershooting. Still, there appeared to be agreement that allowing the economy to rev up a little would be appropriate.

The dollar index, which tracks the greenback against a basket of currencies, was steady at 93.858 at 2:48 p.m. HK/SIN after trading as high as 94.188 overnight following the release of the Fed’s minutes.

Meanwhile, the Turkish lira gave up some of its gains made after the country’s central bank raised interest rates by 300 bps overnight. The lira traded at 4.7 against the dollar compared to its previous close of 4.59. The currency has fallen around 20 percent this year, according to Reuters.

Of note, the Bank of Korea on Thursday announced it would be keeping rates on hold at 1.5 percent, a move that was expected by markets.

— CNBC’s Jeff Cox and Ted Kemp contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2018-05-23  Authors: cheang ming, alexander koerner getty images, ali mohammadi bloomberg via getty images, andrew harrer, bloomberg, getty images, patrick t fallon, harriet taylor
Keywords: news, cnbc, companies, index, trump, hksin, china, nikkei, bank, points, markets, motor, gains, focus, trade, lower, concerns, return, falls, asia, close


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