Asia Pacific stocks mixed amid renewed US-China trade uncertainty

Stocks in Asia were mixed on Tuesday amid renewed tensions between the U.S. and China after Washington said tariffs on Chinese goods will rise on Friday. The Chinese markets, which plunged more than 5% on Monday, attempted to stage a recovery during Tuesday’s session. The Shanghai composite rose 0.69% to close at about 2,926.39 and the Shenzhen component added 1.63% to finish its trading day at 9,089.46. The Topix index also declined 1.12% to finish its trading day at 1,599.84. Over in South Kor


Stocks in Asia were mixed on Tuesday amid renewed tensions between the U.S. and China after Washington said tariffs on Chinese goods will rise on Friday. The Chinese markets, which plunged more than 5% on Monday, attempted to stage a recovery during Tuesday’s session. The Shanghai composite rose 0.69% to close at about 2,926.39 and the Shenzhen component added 1.63% to finish its trading day at 9,089.46. The Topix index also declined 1.12% to finish its trading day at 1,599.84. Over in South Kor
Asia Pacific stocks mixed amid renewed US-China trade uncertainty Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-07  Authors: eustance huang
Keywords: news, cnbc, companies, trade, treves, pacific, uncertainty, asia, trading, close, mixed, day, amid, index, whats, markets, rose, stocks, uschina, shenzhen, shares, renewed


Asia Pacific stocks mixed amid renewed US-China trade uncertainty

Stocks in Asia were mixed on Tuesday amid renewed tensions between the U.S. and China after Washington said tariffs on Chinese goods will rise on Friday.

The Chinese markets, which plunged more than 5% on Monday, attempted to stage a recovery during Tuesday’s session. The Shanghai composite rose 0.69% to close at about 2,926.39 and the Shenzhen component added 1.63% to finish its trading day at 9,089.46. The Shenzhen composite advanced 1.617% to close at approximately 1,540.31.

Meanwhile, Hong Kong’s Hang Seng index also added more than 0.3%, as of its final hour of trading, as shares of life insurer AIA gained beyond 1.5%.

The Nikkei 225 in Japan, which returned to the first day of trade following an extended holiday period, slipped 1.51% to close at 21,923.72 as shares of index heavyweight Fanuc dropped more than 3%. The Topix index also declined 1.12% to finish its trading day at 1,599.84.

Over in South Korea, the Kospi fell 0.88% to close at 2,176.99 as shares of Hyundai Motor dropped more than 1%.

Australia’s ASX 200, on the other hand, rose 0.19% to close at 6,295.70.

“I think what’s quite surprising here is just that people are surprised by what’s happened over the last few days,” Alexander Treves, managing director and investment specialist of emerging markets and Asia Pacific equities at J.P. Morgan Asset Management, told CNBC’s “Squawk Box” on Tuesday.

“Given the various people involved, surely an element of disruption was always going to be likely along the way through this process,” Treves said. “Our best guess at the moment is that this is a negotiating ploy.”


Company: cnbc, Activity: cnbc, Date: 2019-05-07  Authors: eustance huang
Keywords: news, cnbc, companies, trade, treves, pacific, uncertainty, asia, trading, close, mixed, day, amid, index, whats, markets, rose, stocks, uschina, shenzhen, shares, renewed


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Cathay Pacific says new budget airline would serve ‘unique market segment’

Hong Kong’s Cathay Pacific Airways, in talks to buy low-cost carrier Hong Kong Express Airways, believes budget airlines have a “unique market segment” it does not capture at present, Chief Executive Rupert Hogg said on Monday. Cathay this month said it was in “active discussions” to acquire the airline controlled by HNA Group. “It does interest us,” Hogg told Reuters of the budget airline sector during an interview in Singapore. “We watch Singapore Airlines and Scoot; we can see they are trying


Hong Kong’s Cathay Pacific Airways, in talks to buy low-cost carrier Hong Kong Express Airways, believes budget airlines have a “unique market segment” it does not capture at present, Chief Executive Rupert Hogg said on Monday. Cathay this month said it was in “active discussions” to acquire the airline controlled by HNA Group. “It does interest us,” Hogg told Reuters of the budget airline sector during an interview in Singapore. “We watch Singapore Airlines and Scoot; we can see they are trying
Cathay Pacific says new budget airline would serve ‘unique market segment’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: anthony wallace, afp, getty images
Keywords: news, cnbc, companies, singapore, airways, pacific, travel, unique, hong, kong, cathay, airline, talks, serve, airlines, budget, market, segment


Cathay Pacific says new budget airline would serve 'unique market segment'

Hong Kong’s Cathay Pacific Airways, in talks to buy low-cost carrier Hong Kong Express Airways, believes budget airlines have a “unique market segment” it does not capture at present, Chief Executive Rupert Hogg said on Monday.

Cathay this month said it was in “active discussions” to acquire the airline controlled by HNA Group.

That would boost revenue and give Cathay access to the growing low-cost travel market at a time when a lack of slots at Hong Kong International Airport has constrained its ability to follow peers like Singapore Airlines and Qantas Airways and set up its own budget brand.

“It does interest us,” Hogg told Reuters of the budget airline sector during an interview in Singapore. “We watch Singapore Airlines and Scoot; we can see they are trying to get connectivity between them.”

He declined to comment on the status of talks to acquire Hong Kong Express but said the low prices offered by budget carriers helped to stimulate new travel demand, making it a “unique market segment.”


Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: anthony wallace, afp, getty images
Keywords: news, cnbc, companies, singapore, airways, pacific, travel, unique, hong, kong, cathay, airline, talks, serve, airlines, budget, market, segment


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Challenges are rising for Asian private equity investors: Bain & Co

The outlook for Asia Pacific private equity deal making is growing increasingly gloomy, according to Bain & Company. The global management and consulting firm said Friday that fundraising fell sharply last year and worries are rising about overheating investment in Chinese innovation. On top of that, U.S.-China trade tensions, rising interest rates and growing competition among large and small funds are worrisome headwinds, Bain said Friday in its Asia Pacific Private Equity Report 2019. In part


The outlook for Asia Pacific private equity deal making is growing increasingly gloomy, according to Bain & Company. The global management and consulting firm said Friday that fundraising fell sharply last year and worries are rising about overheating investment in Chinese innovation. On top of that, U.S.-China trade tensions, rising interest rates and growing competition among large and small funds are worrisome headwinds, Bain said Friday in its Asia Pacific Private Equity Report 2019. In part
Challenges are rising for Asian private equity investors: Bain & Co Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: kelly olsen, rawpixel, istock, getty images, -kiki yang, co-head of asia pacific private equity at bain
Keywords: news, cnbc, companies, private, asian, increasingly, rising, services, bain, pacific, economy, growing, challenges, online, chinese, investors, equity


Challenges are rising for Asian private equity investors: Bain & Co

The outlook for Asia Pacific private equity deal making is growing increasingly gloomy, according to Bain & Company.

The global management and consulting firm said Friday that fundraising fell sharply last year and worries are rising about overheating investment in Chinese innovation. On top of that, U.S.-China trade tensions, rising interest rates and growing competition among large and small funds are worrisome headwinds, Bain said Friday in its Asia Pacific Private Equity Report 2019.

In particular, it warned that private equity investors are increasingly on guard about China’s internet-based “new economy” sector, described as a “speculative bubble” that may burst.

The Chinese new economy is commonly defined as companies riding the wave of the expanding mobile internet, such as online shopping platforms and other web-based services including ride-hailing, food delivery and online financial services.


Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: kelly olsen, rawpixel, istock, getty images, -kiki yang, co-head of asia pacific private equity at bain
Keywords: news, cnbc, companies, private, asian, increasingly, rising, services, bain, pacific, economy, growing, challenges, online, chinese, investors, equity


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Cathay Pacific says it’s ‘very happy’ with its Boeing fleet, despite recent 737 Max crash

U.S. plane manufacturer Boeing has been mired in controversy since its 737 Max 8 operated by Ethiopian Airlines crashed minutes after takeoff on Sunday, killing all 157 people on board. Despite recent safety concerns surrounding the 737 Max 8, Cathay Pacific’s CEO said Thursday he was “very happy” with the Hong Kong-based carrier’s Boeing fleet. Speaking to CNBC’s “Squawk Box Asia,” Rupert Hogg said “about 50-50” of the airline’s fleet is made up of Boeing and Airbus planes — namely, the Boeing


U.S. plane manufacturer Boeing has been mired in controversy since its 737 Max 8 operated by Ethiopian Airlines crashed minutes after takeoff on Sunday, killing all 157 people on board. Despite recent safety concerns surrounding the 737 Max 8, Cathay Pacific’s CEO said Thursday he was “very happy” with the Hong Kong-based carrier’s Boeing fleet. Speaking to CNBC’s “Squawk Box Asia,” Rupert Hogg said “about 50-50” of the airline’s fleet is made up of Boeing and Airbus planes — namely, the Boeing
Cathay Pacific says it’s ‘very happy’ with its Boeing fleet, despite recent 737 Max crash Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: shirley tay, marcio rodrigo machado, getty images
Keywords: news, cnbc, companies, cathay, crash, pacific, despite, 737, airlines, plane, recent, fleet, hogg, boeing, happy, operated, max, killing, ethiopian


Cathay Pacific says it's 'very happy' with its Boeing fleet, despite recent 737 Max crash

U.S. plane manufacturer Boeing has been mired in controversy since its 737 Max 8 operated by Ethiopian Airlines crashed minutes after takeoff on Sunday, killing all 157 people on board.

Despite recent safety concerns surrounding the 737 Max 8, Cathay Pacific’s CEO said Thursday he was “very happy” with the Hong Kong-based carrier’s Boeing fleet.

Speaking to CNBC’s “Squawk Box Asia,” Rupert Hogg said “about 50-50” of the airline’s fleet is made up of Boeing and Airbus planes — namely, the Boeing 777, Airbus A350 and A330. The airline does not fly the Boeing 737 Max.

“It is a tragedy, but we’re very happy with both sets of aircraft that we have,” Hogg said, in reference to Sunday’s deadly crash.

The fatal accident involving Ethiopian Airlines flight 302 — which killed all 149 passengers and eight crew members — comes less than five months after the same model plane operated by Indonesia’s Lion Air crashed shortly after taking off from Jakarta, killing all 189 on board.


Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: shirley tay, marcio rodrigo machado, getty images
Keywords: news, cnbc, companies, cathay, crash, pacific, despite, 737, airlines, plane, recent, fleet, hogg, boeing, happy, operated, max, killing, ethiopian


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These are the best cities in Asia Pacific for millennials to live and work

Asia Pacific is the world’s millennial hub, home to a staggering 58 percent of the world’s 20- to 38-year-old population. That shifting landscape has been a boon for many Asian cities, which have reinvented themselves to reflect 21st century living. However, others have struggled to accommodate millennials’ mutual demands for suitable employment and affordable housing (and the occasional avocado toast). Singapore-based financial analysis site ValueChampion assessed 20 of the region’s major citie


Asia Pacific is the world’s millennial hub, home to a staggering 58 percent of the world’s 20- to 38-year-old population. That shifting landscape has been a boon for many Asian cities, which have reinvented themselves to reflect 21st century living. However, others have struggled to accommodate millennials’ mutual demands for suitable employment and affordable housing (and the occasional avocado toast). Singapore-based financial analysis site ValueChampion assessed 20 of the region’s major citie
These are the best cities in Asia Pacific for millennials to live and work Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-18  Authors: karen gilchrist, pixelfit, getty images, asanka brendon ratnayake, lonely planet images, sammyvision, moment, dukai photographer, matteo colombo
Keywords: news, cnbc, companies, best, living, employment, valuechampion, 20, live, youthful, cities, worlds, work, workforce, world, millennials, pacific, asia


These are the best cities in Asia Pacific for millennials to live and work

Asia Pacific is the world’s millennial hub, home to a staggering 58 percent of the world’s 20- to 38-year-old population.

The sprawling region has evolved rapidly over recent years as its youthful generation moved into the workforce and reshaped the economy.

That shifting landscape has been a boon for many Asian cities, which have reinvented themselves to reflect 21st century living. However, others have struggled to accommodate millennials’ mutual demands for suitable employment and affordable housing (and the occasional avocado toast).

So which make the mark? Singapore-based financial analysis site ValueChampion assessed 20 of the region’s major cities to find out. Using data from The Economist, the World Economic Forum and the World Health Organization and others, the study measured each of the cities according to three key metrics: Employment prospects; cost of living; and quality of life. It then averaged out each of the city’s overall scores to establish its final ranking.

Here are the cities ranked best for millennials:


Company: cnbc, Activity: cnbc, Date: 2019-02-18  Authors: karen gilchrist, pixelfit, getty images, asanka brendon ratnayake, lonely planet images, sammyvision, moment, dukai photographer, matteo colombo
Keywords: news, cnbc, companies, best, living, employment, valuechampion, 20, live, youthful, cities, worlds, work, workforce, world, millennials, pacific, asia


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Mastering these 5 skills will be key to career growth, according to LinkedIn

Young people are more optimistic than any other generation about their career prospects and the opportunities that lie ahead, despite the growing threat of job disruption. That’s according to a new study from professional services site LinkedIn, which found that the majority (52 percent) of people aged 18 to 29 are hopeful that the employment landscape will improve over the coming years. Just two-thirds (41 percent) of those aged 50 to 60 say they think their career prospects would improve this


Young people are more optimistic than any other generation about their career prospects and the opportunities that lie ahead, despite the growing threat of job disruption. That’s according to a new study from professional services site LinkedIn, which found that the majority (52 percent) of people aged 18 to 29 are hopeful that the employment landscape will improve over the coming years. Just two-thirds (41 percent) of those aged 50 to 60 say they think their career prospects would improve this
Mastering these 5 skills will be key to career growth, according to LinkedIn Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: karen gilchrist, klaus vedfelt, taxi, getty images
Keywords: news, cnbc, companies, according, older, growth, skills, key, improve, asia, young, findings, career, prospects, aged, mastering, landscape, pacific, linkedin


Mastering these 5 skills will be key to career growth, according to LinkedIn

Young people are more optimistic than any other generation about their career prospects and the opportunities that lie ahead, despite the growing threat of job disruption.

That’s according to a new study from professional services site LinkedIn, which found that the majority (52 percent) of people aged 18 to 29 are hopeful that the employment landscape will improve over the coming years.

The findings, which are based on a survey of over 11,000 people in nine countries across Asia Pacific, point to greater caution among older workers, who believe they will be adversely affected by the shifting jobs landscape. Just two-thirds (41 percent) of those aged 50 to 60 say they think their career prospects would improve this year. China was the only exception to that, with optimism at its greatest among older generations.

The findings reflect the wider uncertainties surrounding technology’s impact on the workforce, said Roger Pua, LinkedIn’s senior director of brand marketing and communications for Asia Pacific. However, he noted that employees of all ages can better prepare themselves by focusing on five key work skills.


Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: karen gilchrist, klaus vedfelt, taxi, getty images
Keywords: news, cnbc, companies, according, older, growth, skills, key, improve, asia, young, findings, career, prospects, aged, mastering, landscape, pacific, linkedin


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A key market sector is signaling that the Fed should stay on hold, says Jim Cramer

The Federal Reserve should take note of recent earnings results from railroad operators Union Pacific and Norfolk Southern ahead of its next interest rate hike, CNBC’s Jim Cramer said Monday as stocks sold off. Both companies also saw strength in chemical cargo shipments, and Union Pacific generated 19 percent growth in the energy, construction and manufacturing markets. However, points of nascent weakness remained: vehicles, typically a healthy business for the railroads, saw “no growth whatsoe


The Federal Reserve should take note of recent earnings results from railroad operators Union Pacific and Norfolk Southern ahead of its next interest rate hike, CNBC’s Jim Cramer said Monday as stocks sold off. Both companies also saw strength in chemical cargo shipments, and Union Pacific generated 19 percent growth in the energy, construction and manufacturing markets. However, points of nascent weakness remained: vehicles, typically a healthy business for the railroads, saw “no growth whatsoe
A key market sector is signaling that the Fed should stay on hold, says Jim Cramer Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-28  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, sector, stay, cramer, fed, union, market, business, saw, economy, tariffs, hold, strength, jim, southern, signaling, pacific, norfolk, key


A key market sector is signaling that the Fed should stay on hold, says Jim Cramer

The Federal Reserve should take note of recent earnings results from railroad operators Union Pacific and Norfolk Southern ahead of its next interest rate hike, CNBC’s Jim Cramer said Monday as stocks sold off.

“See, the rails are a terrific proxy for commerce in America, and after listening to the conference calls last week from Union Pacific and Norfolk Southern, my feeling is that we still have a very strong economy,” he said on “Mad Money.”

“However, our economy also seems to be decelerating just enough to keep the Federal Reserve from hitting us with another rate hike anytime soon,” Cramer warned.

On the surface, both companies’ results were strong, topping analyst expectations and showing notable bright spots in the business.

But when it comes to the Fed, whose Open Market Committee will meet this Tuesday and Wednesday to decide on next steps for interest rates, the results weren’t so clear-cut, Cramer said.

“Neither company saw a sudden fall-off in [its] business, but — and this is a big but — they both saw a deceleration in the growth of some key economically sensitive cargoes versus previous quarters,” he explained. “Plus, at least in the case of Union Pacific, a lot of business was pulled forward as companies raced to beat the increase in tariffs on imports from China.”

And because Fed officials should consider the whole economic picture when deciding whether to raise short-term interest rates, it’s worth taking note of these imbalances, the “Mad Money” host argued.

For example, one of the railroad operators’ main sources of strength came from intermodal, a business that involves using several different modes of transportation to ship goods. Increased e-commerce and the U.S. truck driver shortage aided in the strength.

“However, Norfolk Southern noted that the trucking shortage was beginning to abate as the year ended,” a “warning sign” for Norfolk and other railroads, whose intermodal businesses often compete with trucking companies, Cramer said.

Both companies also saw strength in chemical cargo shipments, and Union Pacific generated 19 percent growth in the energy, construction and manufacturing markets.

However, points of nascent weakness remained: vehicles, typically a healthy business for the railroads, saw “no growth whatsoever, with neither company expecting much of an increase” in business, Cramer noted. Agriculture, “almost always a bright spot,” also took a hit because of a lack of Chinese demand for U.S. soybeans, he said.

And while the headline strength might encourage some investors, Cramer warned that part of the strength was “likely an artificial spike” tied to worries about higher tariffs coming due in 2019.

“Put it all together and the rails paint a picture that’s consistent with what we’re seeing from the rest of the economy: they had a deceleration month to month in the fourth quarter, [with] fear of higher tariffs on Chinese goods causing many orders to be pulled forward. At the same time, Union Pacific and Norfolk Southern delivered fantastic profits without experiencing much wage inflation,” the “Mad Money” host said.

“I sure hope Jerome Powell, our wayward Fed Chairman, is looking at these numbers, because they suggest that we really don’t need a rate hike here. To the extent the rails had a strong fourth quarter, much of it came from the desire to beat the scheduled increase in tariffs, not from an acceleration in our economy,” Cramer continued. “So when Powell holds his press conference on Wednesday, I sure hope he continues to hold off on any talk about the need to tighten.”


Company: cnbc, Activity: cnbc, Date: 2019-01-28  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, sector, stay, cramer, fed, union, market, business, saw, economy, tariffs, hold, strength, jim, southern, signaling, pacific, norfolk, key


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Response to climate change is the true test for global leaders: New Zealand’s prime minister

“Do you want to be a leader that looks back in time and say that you were on the wrong side of the argument when the world was crying out for a solution?” Her comments came in response to a question from former U.S. Vice President Al Gore, who asked her what she would say to world leaders who don’t believe the climate crisis is real. U.S. President Donald Trump, who did not attend the conference this year, has long-denied the scientific consensus on climate change. He withdrew from the Paris cli


“Do you want to be a leader that looks back in time and say that you were on the wrong side of the argument when the world was crying out for a solution?” Her comments came in response to a question from former U.S. Vice President Al Gore, who asked her what she would say to world leaders who don’t believe the climate crisis is real. U.S. President Donald Trump, who did not attend the conference this year, has long-denied the scientific consensus on climate change. He withdrew from the Paris cli
Response to climate change is the true test for global leaders: New Zealand’s prime minister Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-23  Authors: karen gilchrist, bloomberg, getty images, -jacinda ardern, prime minister of new zealand
Keywords: news, cnbc, companies, change, zealands, world, prime, say, minister, climate, test, wrong, true, global, president, looks, used, leader, pacific, response, leaders


Response to climate change is the true test for global leaders: New Zealand's prime minister

“Do you want to be a leader that looks back in time and say that you were on the wrong side of the argument when the world was crying out for a solution?”

“This is about being on the right side of history,” she continued. “Do you want to be a leader that looks back in time and say that you were on the wrong side of the argument when the world was crying out for a solution? It’s as simple as that.”

Her comments came in response to a question from former U.S. Vice President Al Gore, who asked her what she would say to world leaders who don’t believe the climate crisis is real. U.S. President Donald Trump, who did not attend the conference this year, has long-denied the scientific consensus on climate change. He withdrew from the Paris climate agreement in mid-2017.

Given the opportunity, Ardern said, she would show — not just tell — naysayers the impact of climate change on the environment.

“It only takes a trip to the Pacific to see that climate change isn’t … hypothetical, and you don’t have to know anything about the science … to have someone from the Pacific island nations take you to a place they used to play as a child on the coast and show you where they used to stand and where the water now rises,” she said.


Company: cnbc, Activity: cnbc, Date: 2019-01-23  Authors: karen gilchrist, bloomberg, getty images, -jacinda ardern, prime minister of new zealand
Keywords: news, cnbc, companies, change, zealands, world, prime, say, minister, climate, test, wrong, true, global, president, looks, used, leader, pacific, response, leaders


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Earthquake of magnitude 6 hits Indonesia’s Sumbawa

An earthquake of magnitude 6 struck south of the city of Raba on Indonesia’s central island of Sumbawa on Tuesday, the U.S. Geological Survey (USGS) said. The USGS had first put the quake magnitude at 6.1. The Hawaii-based Pacific Tsunami Warning Center said on its website there was no current warning in effect. It suffered its deadliest year in more than a decade in 2018 as a series of earthquakes and tsunamis killed more than 3,000 people. That disaster killed 226,000 people in 14 countries, i


An earthquake of magnitude 6 struck south of the city of Raba on Indonesia’s central island of Sumbawa on Tuesday, the U.S. Geological Survey (USGS) said. The USGS had first put the quake magnitude at 6.1. The Hawaii-based Pacific Tsunami Warning Center said on its website there was no current warning in effect. It suffered its deadliest year in more than a decade in 2018 as a series of earthquakes and tsunamis killed more than 3,000 people. That disaster killed 226,000 people in 14 countries, i
Earthquake of magnitude 6 hits Indonesia’s Sumbawa Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-22  Authors: antony dickson, south china morning post, getty images
Keywords: news, cnbc, companies, warning, pacific, raba, hits, south, sumbawa, magnitude, quake, tsunami, earthquake, indonesias, killed, usgs, west


Earthquake of magnitude 6 hits Indonesia's Sumbawa

An earthquake of magnitude 6 struck south of the city of Raba on Indonesia’s central island of Sumbawa on Tuesday, the U.S. Geological Survey (USGS) said.

There was no immediate tsunami warning or reports of damage or casualties from the quake, which hit at a depth of 25 kilometers (16 miles) about 219 km (136 miles) south of Raba in the east of Sumbawa, which forms part of West Nusa Tenggara province.

The USGS had first put the quake magnitude at 6.1. The Hawaii-based Pacific Tsunami Warning Center said on its website there was no current warning in effect.

Indonesia is a disaster-prone archipelago that straddles the seismically active Pacific “Ring of Fire”. It suffered its deadliest year in more than a decade in 2018 as a series of earthquakes and tsunamis killed more than 3,000 people.

About 430 people were killed, with at least 159 missing, after a tsunami off the west coast of Java during the Christmas season evoked memories of the Indian Ocean tsunami triggered by a massive earthquake on Dec. 26, 2004.

That disaster killed 226,000 people in 14 countries, including more than 120,000 in Indonesia.


Company: cnbc, Activity: cnbc, Date: 2019-01-22  Authors: antony dickson, south china morning post, getty images
Keywords: news, cnbc, companies, warning, pacific, raba, hits, south, sumbawa, magnitude, quake, tsunami, earthquake, indonesias, killed, usgs, west


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Asia Pacific markets fall as investors react to China’s trade data

Asia Pacific markets started off the trading week mostly on the back foot as China’s disappointing trade data spooked investors. The Shenzhen composite declined 0.73 percent to 1,303.75, while the Shenzhen component index fell around 0.86 percent to 7,409.19. Hong Kong’s Hang Seng Index was down 1.57 percent while Singapore’s Straits Times Index fell 0.53 percent. In company news, Singapore-listed real estate developer CapitaLand said on Monday it has entered into an agreement to acquire Ascenda


Asia Pacific markets started off the trading week mostly on the back foot as China’s disappointing trade data spooked investors. The Shenzhen composite declined 0.73 percent to 1,303.75, while the Shenzhen component index fell around 0.86 percent to 7,409.19. Hong Kong’s Hang Seng Index was down 1.57 percent while Singapore’s Straits Times Index fell 0.53 percent. In company news, Singapore-listed real estate developer CapitaLand said on Monday it has entered into an agreement to acquire Ascenda
Asia Pacific markets fall as investors react to China’s trade data Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-14  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, pacific, slowdown, investors, data, react, dollar, estate, trade, chinas, fell, index, real, fall, markets, traded, growth, asia


Asia Pacific markets fall as investors react to China's trade data

Asia Pacific markets started off the trading week mostly on the back foot as China’s disappointing trade data spooked investors. Major indexes in South Korea, China, Hong Kong and Singapore tumbled Monday afternoon. The market in Japan is closed for a public holiday.

Shares in Asia were lower after Chinese government data showed that December exports and imports fell unexpectedly, deepening concerns of a slowdown in the world’s second-largest economy as Beijing’s trade war with the U.S. appeared to be taking a toll.

Louis Kuijs, head of Asia economics at Oxford Economics, said in a note that China’s import slowdown was consistent with other signs that growth in the domestic economy was weakening.

“We think overall economic growth slowed further in (fourth-quarter) 2018 and remains under pressure from weaker exports, slow credit growth and cooling real estate activity in (first-half) 2019,” Kuijs said.

China’s trade surplus with the U.S. — closely watched amid a bitter trade war between Washington and Beijing — grew 17 percent from a year ago. According to Reuters, that’s the highest on record dating back to 2006. Still, overall Chinese trade surplus last year was the lowest since 2013, the news agency reported.

The Shanghai composite slipped about 0.7 percent to 2,535.77. The Shenzhen composite declined 0.73 percent to 1,303.75, while the Shenzhen component index fell around 0.86 percent to 7,409.19.

China’s central bank set the yuan midpoint at 6.7560 against the dollar before market open — it was the strongest since Jul. 19, 2018, according to financial data provider Wind.

On-shore yuan traded at 6.7649 versus the greenback as of 2:57 p.m. HK/SIN. The People’s Bank of China allows the exchange rate to rise or fall 2 percent from the official midpoint rate it sets daily.

In South Korea, the Kospi declined about 11.05 points, or 0.53 percent, to 2,064.52 as some of the tech names struggled.

Samsung Electronics, the world’s largest smartphone maker, fell 1.11 percent while its chip-making rival SK Hynix tumbled 4.61 percent. Shares of internet firm Naver fell 3.05 percent.

Hong Kong’s Hang Seng Index was down 1.57 percent while Singapore’s Straits Times Index fell 0.53 percent.

In company news, Singapore-listed real estate developer CapitaLand said on Monday it has entered into an agreement to acquire Ascendas-Singbridge. It would make the combined entity Asia’s largest diversified real estate group, the company said. Trading of CapitaLand shares were halted ahead of the announcement.

Australia’s benchmark ASX 200 reversed early gains to finish near flat as the energy sector declined 0.77 percent.

Meanwhile, the Australian dollar traded at $0.7182 as of 2:55 p.m. HK/SIN, coming off an earlier session high of $0.7217.

The U.S. dollar index, which measures the greenback against a basket of its peers, traded at 95.615 while the Japanese yen, considered a safe haven asset, was at 108.12 to the dollar.

Concerns over an ongoing U.S. government shutdown and worries about an economic slowdown in China could dampen a relatively positive sentiments seen in markets last week.

Sentiment was buoyed by “soothing words” from Fed officials and rising optimism that Beijing and Washington would resolve some of their trade differences before a 90-day moratorium on further U.S. tariff action kicks in, Ray Attrill, head of foreign-exchange strategy at the National Australia Bank, wrote in a morning note.

The “expectation that the Fed is now on hold for the foreseeable future is firmly entrenched in markets,” analysts at ANZ Research also said in a Monday note.


Company: cnbc, Activity: cnbc, Date: 2019-01-14  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, pacific, slowdown, investors, data, react, dollar, estate, trade, chinas, fell, index, real, fall, markets, traded, growth, asia


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