Asia markets trade higher as investors wait on crucial Brexit vote

Asia Pacific markets mostly traded higher Tuesday despite lingering concerns over an economic slowdown in China, which dampened sentiment at the start of the week after China released trade data. South Korea’s Kospi added 32.66 points, or 1.58 percent, to 2,097.18 while the Kosdaq gained 7.30 points, or 1.07 percent, to 690.39. Greater China markets gained: Hong Kong’s Hang Seng index rose 1.82 percent in late-afternoon trade, while mainland Chinese markets rose as the Shanghai composite added 3


Asia Pacific markets mostly traded higher Tuesday despite lingering concerns over an economic slowdown in China, which dampened sentiment at the start of the week after China released trade data. South Korea’s Kospi added 32.66 points, or 1.58 percent, to 2,097.18 while the Kosdaq gained 7.30 points, or 1.07 percent, to 690.39. Greater China markets gained: Hong Kong’s Hang Seng index rose 1.82 percent in late-afternoon trade, while mainland Chinese markets rose as the Shanghai composite added 3
Asia markets trade higher as investors wait on crucial Brexit vote Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-15  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, brexit, points, added, analysts, wait, markets, higher, asia, trade, pound, investors, market, china, crucial, traded, vote


Asia markets trade higher as investors wait on crucial Brexit vote

Asia Pacific markets mostly traded higher Tuesday despite lingering concerns over an economic slowdown in China, which dampened sentiment at the start of the week after China released trade data.

South Korea’s Kospi added 32.66 points, or 1.58 percent, to 2,097.18 while the Kosdaq gained 7.30 points, or 1.07 percent, to 690.39.

In Japan, the benchmark Nikkei 225 added 195.59 points, or 0.96 percent, to 20,555.29 after resuming trade on Tuesday — the Japanese market was closed Monday for a public holiday.

Greater China markets gained: Hong Kong’s Hang Seng index rose 1.82 percent in late-afternoon trade, while mainland Chinese markets rose as the Shanghai composite added 34.58 points, or 1.36 percent, to 2,570.34.

Major indexes in Singapore and India also rose.

Australia’s ASX 200 was up 41.20 points, or 0.71 percent, at 5,814.60 as the heavily-weighted financial subindex added 0.66 percent while the energy and materials sectors also posted gains.

Meanwhile, the Australian dollar traded at $0.7216 as of 3:42 p.m. HK/SIN, climbing from an earlier low of $0.7188.

Asia’s gains came despite declines on Wall Street overnight as the U.S. corporate earnings season kicked off. Still, U.S. futures also pointed to a positive open Tuesday.

“Risk is under modest downward pressure after yesterday’s disappointing December Chinese export data and confirmation of weak euro area industrial production fuelled concerns that a synchronised global manufacturing down-swing is underway and possibly intensifying,” analysts at ANZ Research wrote in a Tuesday morning note.

The analysts added that resolving trade uncertainty is “fundamental” to stabilizing the outlook, referring to an ongoing trade dispute between Washington and Beijing.

In the currency market, the dollar index, which measures the greenback against a basket of its peers, traded at 95.563. The Japanese yen, considered a safe-haven asset, fetched 108.61 to the dollar.

The British pound traded at $1.2885 as of 3:46 p.m. HK/SIN, climbing from levels below $1.2740 in the previous week. Sterling will be a focus for investors as lawmakers vote on U.K. Prime Minister Theresa May’s Brexit deal to leave the European Union.

The vote is widely expected to be defeated in parliament Tuesday, but could potentially still trigger a violent market reaction, according to some analysts.

“Today’s vote is considered a ‘buy the rumour, sell the fact’ play for the pound especially if the Brexit agreement is defeated by more than 100 votes,” analysts at Singapore’s DBS Group Research wrote. “It is still too early to take off the risk for the pound to fall to its post-referendum low near 1.20 this year.”


Company: cnbc, Activity: cnbc, Date: 2019-01-15  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, brexit, points, added, analysts, wait, markets, higher, asia, trade, pound, investors, market, china, crucial, traded, vote


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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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Apple suffers its biggest single-day loss in 6 years after cutting revenue guidance

The plunge makes for Apple’s worst day of trading since January 2013, and it extends a painful year-end trend for Apple into 2019. The company has lost $450 billion in market value since its peak of about $1.1 trillion last year. Apple now expects revenue for its fiscal first quarter to be as much as $9 billion lower than previous projections. Apple said in November it would stop reporting individual unit sales and revenue figures for its main product lines. As of Thursday’s close, Apple has los


The plunge makes for Apple’s worst day of trading since January 2013, and it extends a painful year-end trend for Apple into 2019. The company has lost $450 billion in market value since its peak of about $1.1 trillion last year. Apple now expects revenue for its fiscal first quarter to be as much as $9 billion lower than previous projections. Apple said in November it would stop reporting individual unit sales and revenue figures for its main product lines. As of Thursday’s close, Apple has los
Apple suffers its biggest single-day loss in 6 years after cutting revenue guidance Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-03  Authors: sara salinas
Keywords: news, cnbc, companies, loss, months, apples, singleday, apple, cutting, market, revenue, guidance, biggest, trading, suffers, stock, billion, traded, sales


Apple suffers its biggest single-day loss in 6 years after cutting revenue guidance

Apple’s Tim Cook blames China for weak iPhone sales — Here’s how five experts reacted to the news 4 Hours Ago | 07:03

Apple stock cratered almost 10 percent Thursday, a day after slashing revenue guidance in a rare acknowledgement of waning sales.

The stock ended trading at $142.19, its lowest price level since July 2017. The plunge makes for Apple’s worst day of trading since January 2013, and it extends a painful year-end trend for Apple into 2019.

The stock, which once traded above $230 per share, shed 30 percent in the fourth quarter of 2018.

Thursday’s losses push Apple’s market valuation below $700 billion and behind the market cap of Alphabet to become the fourth most valuable publicly traded U.S. company — down from the top spot just two months ago. The company has lost $450 billion in market value since its peak of about $1.1 trillion last year.

Apple cited longer upgrade cycles and headwinds in China as causing lower-than-expected iPhone sales. Apple now expects revenue for its fiscal first quarter to be as much as $9 billion lower than previous projections.

It’s the admission shareholders had been waiting for, after months of reported supply-chain cuts and a major shake-up to the company’s sales reporting structure. Apple said in November it would stop reporting individual unit sales and revenue figures for its main product lines.

As of Thursday’s close, Apple has lost 17 percent in the last 12 months, and almost 40 percent since 52-week highs.

WATCH: CNBC’s full interview with Apple CEO Tim Cook


Company: cnbc, Activity: cnbc, Date: 2019-01-03  Authors: sara salinas
Keywords: news, cnbc, companies, loss, months, apples, singleday, apple, cutting, market, revenue, guidance, biggest, trading, suffers, stock, billion, traded, sales


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Why this year suddenly fell apart on Wall Street, and what’s ahead

Everything was going right for the stock market until Oct. 3. Then everything went wrong. Up to that point, the Dow Jones Industrial Average had been up about 8 percent for the year — a solid gain if not quite as gaudy as the year before. The market traded flat that day, with little indication that there was anything that should disrupt the powerful bull run into the end of the year. Then, it happened.


Everything was going right for the stock market until Oct. 3. Then everything went wrong. Up to that point, the Dow Jones Industrial Average had been up about 8 percent for the year — a solid gain if not quite as gaudy as the year before. The market traded flat that day, with little indication that there was anything that should disrupt the powerful bull run into the end of the year. Then, it happened.
Why this year suddenly fell apart on Wall Street, and what’s ahead Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-31  Authors: jeff cox, brendan mcdermid
Keywords: news, cnbc, companies, street, traded, wall, term, went, stock, market, solid, ahead, interest, yearthen, wrongup, way, whats, suddenly, apart, fell


Why this year suddenly fell apart on Wall Street, and what's ahead

Everything was going right for the stock market until Oct. 3. Then everything went wrong.

Up to that point, the Dow Jones Industrial Average had been up about 8 percent for the year — a solid gain if not quite as gaudy as the year before.

More importantly, the fundamental backdrop was solid: The economy was growing at a better than 3 percent clip, corporate profits were around their highest levels in eight years, and the Federal Reserve seemed in control of monetary policy and interest rates.

The market traded flat that day, with little indication that there was anything that should disrupt the powerful bull run into the end of the year.

Then, it happened.

In a seemingly off-the-cuff remark in a PBS interview after the market had closed, Fed Chairman Jerome Powell said interest rates were “a long way” from what he considered neither stimulative nor restrictive — the central bank’s holy grail of “neutral” where it could stay put over at least the medium term.


Company: cnbc, Activity: cnbc, Date: 2018-12-31  Authors: jeff cox, brendan mcdermid
Keywords: news, cnbc, companies, street, traded, wall, term, went, stock, market, solid, ahead, interest, yearthen, wrongup, way, whats, suddenly, apart, fell


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Asian stocks trade mixed following Wall Street turbulence

Shares in Asia mostly traded mixed on Friday morning following a turbulent session on Wall Street that saw the Dow Jones Industrial Average plunge more than 600 points at its low. The mainland Chinese markets, closely watched in relation to the Sino-U.S. trade war, were cautious in early trade. The ASX 200 in Australia gained 0.55 percent, with the sectors mostly higher. The heavily weighted financial subindex rose 1.49 percent as shares of Australia’s so-called Big Four banks saw gains. Austral


Shares in Asia mostly traded mixed on Friday morning following a turbulent session on Wall Street that saw the Dow Jones Industrial Average plunge more than 600 points at its low. The mainland Chinese markets, closely watched in relation to the Sino-U.S. trade war, were cautious in early trade. The ASX 200 in Australia gained 0.55 percent, with the sectors mostly higher. The heavily weighted financial subindex rose 1.49 percent as shares of Australia’s so-called Big Four banks saw gains. Austral
Asian stocks trade mixed following Wall Street turbulence Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-28  Authors: eustance huang
Keywords: news, cnbc, companies, turbulence, shares, asian, following, bank, saw, gained, shenzhen, traded, australia, slipped, stocks, wall, mixed, street, trade, gains


Asian stocks trade mixed following Wall Street turbulence

Shares in Asia mostly traded mixed on Friday morning following a turbulent session on Wall Street that saw the Dow Jones Industrial Average plunge more than 600 points at its low.

The mainland Chinese markets, closely watched in relation to the Sino-U.S. trade war, were cautious in early trade. The Shanghai composite was largely flat while the Shenzhen composite saw a 0.322 percent decline and the Shenzhen component slipped 0.380 percent.

Meanwhile, Hong Kong’s Hang Seng index traded slightly higher and South Korea’s Kospi gained 0.44 percent.

The ASX 200 in Australia gained 0.55 percent, with the sectors mostly higher. The heavily weighted financial subindex rose 1.49 percent as shares of Australia’s so-called Big Four banks saw gains. Australia and New Zealand Banking Group climbed up by 1.27 percent, Commonwealth Bank of Australia rose 1.46 percent, Westpac gained 1.82 percent and National Australia Bank advanced 1.78 percent.

Japan’s Nikkei 225 and Topix index, however, both slipped around 0.6 percent in morning trade after two straight days of gains. Shares of Fast Retailing, the company behind the Uniqlo chain of apparel stores, lost their earlier gains to drop about 1.6 percent.

The moves in Japan came after the country’s central bank released its summary of opinions from its December monetary policy meeting, where it noted the “heightening” of downside risks to economic activity.

“Regarding the outlook for the global economy, risks have been tilted to the downside on the whole amid heightening uncertainties and a prevailing view that such situation will be protracted,” said the note from the Bank of Japan.


Company: cnbc, Activity: cnbc, Date: 2018-12-28  Authors: eustance huang
Keywords: news, cnbc, companies, turbulence, shares, asian, following, bank, saw, gained, shenzhen, traded, australia, slipped, stocks, wall, mixed, street, trade, gains


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Asian stocks mostly decline as ‘warm fuzzy feeling’ of US-China trade agreement fades

Stocks in Asia slipped Tuesday afternoon amid uncertainty about the future of U.S.-China trade relations. The mainland Chinese markets, which have been closely watched in relation to Beijing’s trade war with Washington, were largely unchanged by the end of the morning session. Elsewhere in Asia, Japan’s Nikkei 225 fell by 1.28 percent in afternoon trade while the Topix index shed 1.59 percent. Over in Australia, the ASX 200 traded down by 0.92 percent in the afternoon, with almost all sectors in


Stocks in Asia slipped Tuesday afternoon amid uncertainty about the future of U.S.-China trade relations. The mainland Chinese markets, which have been closely watched in relation to Beijing’s trade war with Washington, were largely unchanged by the end of the morning session. Elsewhere in Asia, Japan’s Nikkei 225 fell by 1.28 percent in afternoon trade while the Topix index shed 1.59 percent. Over in Australia, the ASX 200 traded down by 0.92 percent in the afternoon, with almost all sectors in
Asian stocks mostly decline as ‘warm fuzzy feeling’ of US-China trade agreement fades Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: eustance huang
Keywords: news, cnbc, companies, fades, afternoon, agreement, traded, bank, release, slipped, progress, asian, australia, unchanged, warm, feeling, fuzzy, trade, stocks, uschina, lowe, decline


Asian stocks mostly decline as 'warm fuzzy feeling' of US-China trade agreement fades

Stocks in Asia slipped Tuesday afternoon amid uncertainty about the future of U.S.-China trade relations.

The mainland Chinese markets, which have been closely watched in relation to Beijing’s trade war with Washington, were largely unchanged by the end of the morning session. Both the Shanghai composite and the Shenzhen composite were near flat.

In Hong Kong, the Hang Seng index slipped 0.26 percent.

Elsewhere in Asia, Japan’s Nikkei 225 fell by 1.28 percent in afternoon trade while the Topix index shed 1.59 percent.

Shares of automaker Nissan slipped 0.69 percent following a Reuters report that the company’s external board is set to meet today to discuss a replacement for arrested former Chairman Carlos Ghosn. The Sankei newspaper reported that Tokyo prosecutors were planning to arrest Ghosn amid new claims that he understated his income, according to Reuters.

Meanwhile in South Korea, the Kospi slipped 0.72 percent.

Over in Australia, the ASX 200 traded down by 0.92 percent in the afternoon, with almost all sectors in negative territory.

The heavily weighted financial subindex in Australia slipped more than 1 percent. Shares of the country’s so-called Big Four banks saw losses: Australia and New Zealand Banking Group slipped 1.16 percent, Westpac fell 1.28 percent, National Australia Bank traded down by 1.02 percent and Commonwealth Bank of Australia declined by 1.03 percent.

The Reserve Bank of Australia announced earlier than it was keeping the cash rate unchanged at 1.50 percent, with the central bank’s Governor Philip Lowe saying in a media release that “the low level of interest rates is continuing to support the Australian economy.”

“Further progress in reducing unemployment and having inflation return to target is expected, although this progress is likely to be gradual,” Lowe said in the release.


Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: eustance huang
Keywords: news, cnbc, companies, fades, afternoon, agreement, traded, bank, release, slipped, progress, asian, australia, unchanged, warm, feeling, fuzzy, trade, stocks, uschina, lowe, decline


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Dollar weakens as US-China trade truce revives demand for riskier currencies

Riskier currencies such as the Australian dollar and New Zealand dollar rallied by more than 0.5 percent each, while safe haven currencies such as the yen and the Swiss franc traded weaker in early Asian trade, signalling a clear risk-on move in the financial markets. “The trade truce is definitely risk positive for the markets…we expect dollar safe haven buying to fade and riskier currencies such as the Aussie and Kiwi dollar to scale higher,” said Rodrigo Catril, senior currency strategist a


Riskier currencies such as the Australian dollar and New Zealand dollar rallied by more than 0.5 percent each, while safe haven currencies such as the yen and the Swiss franc traded weaker in early Asian trade, signalling a clear risk-on move in the financial markets. “The trade truce is definitely risk positive for the markets…we expect dollar safe haven buying to fade and riskier currencies such as the Aussie and Kiwi dollar to scale higher,” said Rodrigo Catril, senior currency strategist a
Dollar weakens as US-China trade truce revives demand for riskier currencies Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-03
Keywords: news, cnbc, companies, weakens, currency, revives, marketsthe, versus, riskier, trade, uschina, dollar, currencies, traded, weaker, truce, demand, value, yen


Dollar weakens as US-China trade truce revives demand for riskier currencies

The dollar fell across the board on Monday as investor demand for riskier assets rose after China and the U.S. agreed to a cease-fire in a trade dispute that has shaken global markets.

The White House said on Saturday that President Donald Trump told China’s President Xi Jinping at the G-20 talks in Argentina that he would not boost tariffs on $200 billion of Chinese goods to 25 percent on Jan. 1 as previously announced.

China and United States will try to bridge their differences via new talks aimed at reaching a deal within 90 days.

Riskier currencies such as the Australian dollar and New Zealand dollar rallied by more than 0.5 percent each, while safe haven currencies such as the yen and the Swiss franc traded weaker in early Asian trade, signalling a clear risk-on move in the financial markets.

“The trade truce is definitely risk positive for the markets…we expect dollar safe haven buying to fade and riskier currencies such as the Aussie and Kiwi dollar to scale higher,” said Rodrigo Catril, senior currency strategist at NAB.

Catril noted that crosses such as the Aussie/yen and kiwi/yen are likely to see further upside as currency traders react to the temporary truce between the world’s two largest economies.

The dollar index, a gauge of its value versus six major peers, traded down 0.13 percent at 97.14.

The dollar lost 0.54 percent versus the offshore yuan, its steepest percentage fall since Oct. 1, to quote at 6.9134.

The safe-haven yen weakened to 113.68 on Monday, with the greenback gaining 0.2 percent, reflecting the prevailing risk-on mood. The euro gained 0.34 percent on the yen to 128.89, briefly hitting an intra-day high of 129.37, its highest level since Nov. 9.

The euro changed hands gained 0.16 percent to $1.1333 amid heavy dollar selling.

However, some analysts warned many issues had to be resolved for risk sentiment to stay positive in the medium term.

“Ultimately, it remains a high order for China to fulfil the U.S. demands on structural issues…at a time when the major issues that the U.S. has raised represent a challenge to China’s rise, a long-lasting and meaningful de-escalation remains very challenging,” said Daniel Been, head of currency research at ANZ.

Apart from trade, investor focus will also return to the U.S. monetary policy, with the Federal Reserve expected to raise interest rates by 25 basis points later in December, which would be its fourth rate hike this year.

“The developments over the weekend will give the Fed some more confidence to raise rates in 2019,” said Michael McCarthy, chief market strategist at CMC markets.

The dollar had come under pressure last week when the market took comments by Federal Reserve Chair Jerome Powell as hinting at a slower pace of rate hikes.

Powell is scheduled to testify before a congressional Joint Economic Committee later this week.

The British pound traded weaker versus the dollar at $1.2740 losing around 0.1 percent of its value. Sterling has posted losses for three consecutive weeks as traders bet that British Prime Minister Theresa May will not be able to pass her Brexit deal through parliament on Dec. 11.


Company: cnbc, Activity: cnbc, Date: 2018-12-03
Keywords: news, cnbc, companies, weakens, currency, revives, marketsthe, versus, riskier, trade, uschina, dollar, currencies, traded, weaker, truce, demand, value, yen


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Apple loses spot as world’s most valuable public company to Microsoft

Microsoft has better fundamentals, but buy Apple, says Heartland Financial CIO 1 Hour Ago | 02:58Microsoft is now the most valuable publicly traded company in the world, surpassing Apple for the title. Microsoft surpassed Apple periodically throughout the week during intraday trading, but Apple consistently beat out Microsoft in market valuation at market close. Apple’s market valuation, based on an outstanding share count of 4,745,398,000 shares as of Oct. 26, lagged just behind at $847.4 billi


Microsoft has better fundamentals, but buy Apple, says Heartland Financial CIO 1 Hour Ago | 02:58Microsoft is now the most valuable publicly traded company in the world, surpassing Apple for the title. Microsoft surpassed Apple periodically throughout the week during intraday trading, but Apple consistently beat out Microsoft in market valuation at market close. Apple’s market valuation, based on an outstanding share count of 4,745,398,000 shares as of Oct. 26, lagged just behind at $847.4 billi
Apple loses spot as world’s most valuable public company to Microsoft Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: jordan novet, sara salinas
Keywords: news, cnbc, companies, worlds, spot, valuation, apple, trilliondollar, public, company, market, valuable, share, trading, microsoft, traded, loses


Apple loses spot as world's most valuable public company to Microsoft

Microsoft has better fundamentals, but buy Apple, says Heartland Financial CIO 1 Hour Ago | 02:58

Microsoft is now the most valuable publicly traded company in the world, surpassing Apple for the title.

Microsoft’s market cap was above Apple’s at the close of trading Friday. Microsoft surpassed Apple periodically throughout the week during intraday trading, but Apple consistently beat out Microsoft in market valuation at market close.

At Friday’s close, Microsoft held an implied market valuation of $851.2 billion at $110.89 per share, based on an outstanding share count of 7,676,218,736 shares as of Oct. 19, according to the company’s most recent SEC filing.

Apple’s market valuation, based on an outstanding share count of 4,745,398,000 shares as of Oct. 26, lagged just behind at $847.4 billion, at $178.58 per share.

If Microsoft ends the year as the most valuable company, it will be the first year it closes out in the top position since 2002.

Source: S&P Dow Jones Indices

Apple eclipsed a trillion-dollar market capitalization in August to become the first publicly traded U.S. company to hit the historic valuation. Amazon crossed the trillion-dollar threshold during intraday trading five weeks later but has never closed trading above the benchmark.

WATCH: Apple’s stock performance reflects its key tenets, says Bernstein’s Sacconaghi


Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: jordan novet, sara salinas
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Asia markets trade higher as investors await a key meeting Trump and Xi

Asia markets traded mostly higher on Tuesday, following an overnight bounce on Wall Street as investors await a crucial meeting between President Donald Trump and Chinese leader Xi Jinping. Greater China markets traded mixed: The Taiex, which measures the performance of aggregate listed stocks on the Taiwan stock exchange, was down 0.7 percent. Chinese mainland markets were positive, with the Shanghai composite up 0.43 percent and the Shenzhen composite higher by 0.67 percent. “Despite data on t


Asia markets traded mostly higher on Tuesday, following an overnight bounce on Wall Street as investors await a crucial meeting between President Donald Trump and Chinese leader Xi Jinping. Greater China markets traded mixed: The Taiex, which measures the performance of aggregate listed stocks on the Taiwan stock exchange, was down 0.7 percent. Chinese mainland markets were positive, with the Shanghai composite up 0.43 percent and the Shenzhen composite higher by 0.67 percent. “Despite data on t
Asia markets trade higher as investors await a key meeting Trump and Xi Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-27  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, higher, rose, markets, trade, meeting, traded, china, await, overnight, asia, key, fell, wrote, investors, trump, xi


Asia markets trade higher as investors await a key meeting Trump and Xi

Asia markets traded mostly higher on Tuesday, following an overnight bounce on Wall Street as investors await a crucial meeting between President Donald Trump and Chinese leader Xi Jinping.

Japan’s Nikkei 225 rose 0.2 percent while the Topix index added 0.39 percent. South Korea’s Kospi rose 0.25 percent.

Greater China markets traded mixed: The Taiex, which measures the performance of aggregate listed stocks on the Taiwan stock exchange, was down 0.7 percent. Hong Kong’s Hang Seng Index fell 0.53 percent.

Chinese mainland markets were positive, with the Shanghai composite up 0.43 percent and the Shenzhen composite higher by 0.67 percent.

Australia’s benchmark ASX 200 see-sawed between gains and losses to trade up 0.29 percent as the heavily weighed financial subindex rose 0.66 percent. The energy sector was up 0.36 percent, likely receiving a small boost from an overnight jump in oil prices.

“Despite data on the whole being softer, global markets traded with a better tone overnight, with equity markets leading the charge,” Nathanael Hartley from ANZ Research wrote in a morning note.

Some analysts said strong Black Friday sales reflecting solid consumer confidence was one of the factors that helped boost risk appetite among investors.

Apple suppliers in Asia will be closely watched throughout the trading day after Trump suggested that he could place a 10 percent tariff on iPhones and laptops imported from China. Apple products are currently exempt from tariffs.

Shares of Taiwan Semiconductor Manufacturing Co., which makes chips for iPhones, were down 1.12 percent. Catcher Technology, another Apple supplier, fell 2.22 percent. iPhone assembler Foxconn, formally known as Hon Hai Precision Industry, was down nearly 1 percent.

In an interview with the Wall Street Journal, Trump said it’s “highly unlikely” that he would delay an increase in tariffs from 10 percent to 25 percent on Jan. 1. His comments came days before the G-20 summit in Buenos Aires, Argentina, where he is set to meet Xi for trade talks. Many investors and decision makers are hoping that the summit will diffuse trade tensions between the U.S. and China after each country applied additional tariffs on billions of dollars’ worth of each other’s imports.

Apple shares fell nearly 2 percent in after-hours trading.

Trump’s latest remarks “sent a cautious mood to the market as a grim reminder that hurdle remains high in the forthcoming Trump-Xi trade talk,” Huani Zhu, an economist from Mizuho Bank, wrote in a morning note.


Company: cnbc, Activity: cnbc, Date: 2018-11-27  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, higher, rose, markets, trade, meeting, traded, china, await, overnight, asia, key, fell, wrote, investors, trump, xi


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Dollar steady in safe-haven trade, sterling gains slightly on Brexit deal news

European Union leaders sealed a Brexit pact on Sunday calling it the ‘best possible’ deal that Britain could have got. The yen traded with a strong bias in early Asian trade on Monday. This interest rate differential between U.S. and Japanese bonds makes the dollar a more attractive bet than the yen. Analysts also believe another factor supporting the dollar is Japanese investors remaining heavily invested in U.S. and other foreign assets. The New Zealand dollar lost 0.3 percent to trade at $067


European Union leaders sealed a Brexit pact on Sunday calling it the ‘best possible’ deal that Britain could have got. The yen traded with a strong bias in early Asian trade on Monday. This interest rate differential between U.S. and Japanese bonds makes the dollar a more attractive bet than the yen. Analysts also believe another factor supporting the dollar is Japanese investors remaining heavily invested in U.S. and other foreign assets. The New Zealand dollar lost 0.3 percent to trade at $067
Dollar steady in safe-haven trade, sterling gains slightly on Brexit deal news Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-26  Authors: matt cardy, getty images
Keywords: news, cnbc, companies, gains, versus, safehaven, brexit, deal, traded, safe, president, steady, slightly, yen, rate, dollar, japanese, traders, sterling, trade


Dollar steady in safe-haven trade, sterling gains slightly on Brexit deal news

The dollar rose versus its major peers on Monday, as investors sought shelter in safe haven currencies as fears of a global growth slowdown and U.S.-Sino trade tensions grappled risk appetite.

The greenback and the yen, both considered safe haven currencies advanced as traders fear that last week’s capitulation in oil prices suggests that the global economic recovery is losing steam.

The British pound changed hands at $1.2819, gaining 0.05 percent versus the dollar. European Union leaders sealed a Brexit pact on Sunday calling it the ‘best possible’ deal that Britain could have got.

A vote in the British parliament vote is expected to take place just before the next EU summit on Dec. 13-14. Most analysts expect sterling to be subdued till then.

With Brexit settled for now, currency traders are looking to the upcoming G-20 meeting in Buenos Aires on Nov.30, where President Trump and President Xi are likely to discuss trade.

Investors are hoping a workable deal can out of the summit because if not, Washington’s 10 percent tariff rate on $200 billion of Chinese imports will rise by early next year to 25 percent.

Trump has threatened to impose tariffs on all remaining Chinese imports – about $267 billion more in goods – if Beijing fails to address U.S. demands.

“If there is some sort of truce which comes out of this deal, we will see money coming out of the safe haven dollar,” added Catril.

“This would bode well for the riskier currencies such as the Aussie, kiwi dollar and the Asian emerging market currencies.”

The yen traded with a strong bias in early Asian trade on Monday. The Japanese currency traded within a very tight range of less than 100 pips last week.

The dollar is expected to remain in an uptrend against the yen, with the Fed on a monetary tightening path while the Bank of Japan remains committed to its ultra-loose monetary policy due to low growth and inflation.

This interest rate differential between U.S. and Japanese bonds makes the dollar a more attractive bet than the yen.

Analysts also believe another factor supporting the dollar is Japanese investors remaining heavily invested in U.S. and other foreign assets.

The euro traded marginally lower at $1.1335. The single currency lost 0.7 percent versus the greenback last week as traders reacted to weak economic data out of the common area.

The ongoing tussle between Rome and Brussels over Italy’s free-spending budget, which breaks the European Commission’s fiscal rules, has also put the euro under pressure.

However, Italian Deputy Prime Minister Matteo Salvini hinted on Sunday at the possibility of tweaking the country’s deficit goal for next year, a move that could open a negotiation between Rome and Brussels to avoid a disciplinary procedure against Italy.

There will be increased focus on ECB President Draghi’s appearance at the European parliament on Monday, with markets expecting to take dovish tone given the weakness in recent economic data.

“The ECB’s quantitative easing programme is set to finish up next month and we think the hurdle to extend the programme is exceptionally high,” said Nick Smyth, interest rate strategist at BNZ Markets in a note.

The New Zealand dollar lost 0.3 percent to trade at $06760 as investors took in weaker-than-expected retail sales data.


Company: cnbc, Activity: cnbc, Date: 2018-11-26  Authors: matt cardy, getty images
Keywords: news, cnbc, companies, gains, versus, safehaven, brexit, deal, traded, safe, president, steady, slightly, yen, rate, dollar, japanese, traders, sterling, trade


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