Bond yields are tumbling throughout Asia Pacific

Yields for 10-year government bonds in major Asian markets have been dropping sharply as recession fears send investors pouring into the assets. Bond prices move opposite yields, and as investors rush to buy them, prices surge and yields fall in tandem. Here’s a look at how each market’s 10-year government bond yield has fallen by Thursday morning, versus a week ago and the beginning of the month. Previously, the central bank has fixed the yield on the 10-year bond at around zero, which it pegge


Yields for 10-year government bonds in major Asian markets have been dropping sharply as recession fears send investors pouring into the assets. Bond prices move opposite yields, and as investors rush to buy them, prices surge and yields fall in tandem. Here’s a look at how each market’s 10-year government bond yield has fallen by Thursday morning, versus a week ago and the beginning of the month. Previously, the central bank has fixed the yield on the 10-year bond at around zero, which it pegge
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Company: cnbc, Activity: cnbc, Date: 2019-08-15  Authors: weizhen tan
Keywords: news, cnbc, companies, pacific, bond, asia, week, 10year, bonds, markets, curve, tumbling, yield, yellen, yields, investors


Bond yields are tumbling throughout Asia Pacific

Pedestrians are reflected on a window of a securities company in Tokyo on Aug. 30, 2017.

Yields for 10-year government bonds in major Asian markets have been dropping sharply as recession fears send investors pouring into the assets.

Bond prices move opposite yields, and as investors rush to buy them, prices surge and yields fall in tandem.

Here’s a look at how each market’s 10-year government bond yield has fallen by Thursday morning, versus a week ago and the beginning of the month.

In Japan, the 10-year yield dropped below the Bank of Japan’s preferred range for the first time last week — falling past -0.2%. Previously, the central bank has fixed the yield on the 10-year bond at around zero, which it pegged at a range of between 0.2% and -0.2%.

Recession fears have roiled markets. The yield on the benchmark 10-year Treasury note broke below the 2-year rate early Wednesday. That so-called yield curve is a bond market phenomenon that’s been a reliable, albeit early, indicator for economic recessions.

The yield on the U.S. 30-year bond also fell to a new low.

While lower-yielding markets, such as Hong Kong, South Korea and Singapore, and mid-yielding markets such as Malaysia and China, have seen rates drifting lower, one analyst told CNBC that investors are staying away from riskier markets — the high-yielding Asia bond markets such as India and Indonesia.

That’s causing the yields of those bonds to go up, said Julio Callegari, a fixed income portfolio manager at J.P. Morgan Asset Management.

“The main reason is that these bond markets are more sensitive to risk aversion — that usually causes depreciation in their currencies and pressure on the yield curve,” he said in an email. “Overall we expect this trend to continue for a while, since broadly speaking economic growth is still slowing in the region and central banks are likely to keep easing monetary policy.”

In the U.S., investors have also been rushing into bonds. The iShares 20+ Year Treasury Bond ETF, TLT jumped 2.1% on Monday, its biggest gain in a year.

Commenting on the recent main yield curve inversion in the U.S., former Federal Reserve Chair Janet Yellen said Wednesday that “it may be a less good signal ” this time around.

“The reason for that is there are a number of factors other than market expectations about the future path of interest rates that are pushing down long-term yields,” Yellen said on Fox Business Network.

— CNBC’s Eustance Huang, Thomas Franck and Patti Domm contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-08-15  Authors: weizhen tan
Keywords: news, cnbc, companies, pacific, bond, asia, week, 10year, bonds, markets, curve, tumbling, yield, yellen, yields, investors


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China fixes its daily yuan midpoint at 7.0268 — weaker than expected

China’s official midpoint reference for the yuan was set at 7.0268 per the U.S. dollar on Thursday — stronger than Wednesday’s fixing, but it was weaker than what analysts had forecast. It was the sixth consecutive session where the People’s Bank of China (PBOC) fixed the midpoint at a level weaker than the psychologically important 7-yuan-per-dollar mark. The onshore yuan last traded at 7.0250. The PBOC lets the currency’s spot rate trade with a range of 2% above or below the day’s official mid


China’s official midpoint reference for the yuan was set at 7.0268 per the U.S. dollar on Thursday — stronger than Wednesday’s fixing, but it was weaker than what analysts had forecast. It was the sixth consecutive session where the People’s Bank of China (PBOC) fixed the midpoint at a level weaker than the psychologically important 7-yuan-per-dollar mark. The onshore yuan last traded at 7.0250. The PBOC lets the currency’s spot rate trade with a range of 2% above or below the day’s official mid
China fixes its daily yuan midpoint at 7.0268 — weaker than expected Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-15  Authors: weizhen tan
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China fixes its daily yuan midpoint at 7.0268 — weaker than expected

A Chinese bank employee counts 100-yuan notes and US dollar bills at a bank counter in Nantong in China’s eastern Jiangsu province on August 6, 2019.

China’s official midpoint reference for the yuan was set at 7.0268 per the U.S. dollar on Thursday — stronger than Wednesday’s fixing, but it was weaker than what analysts had forecast.

Analysts were predicting the midpoint to be set at 7.0236 per dollar, according to Reuters estimates.

It was the sixth consecutive session where the People’s Bank of China (PBOC) fixed the midpoint at a level weaker than the psychologically important 7-yuan-per-dollar mark.

The onshore yuan last traded at 7.0250. On Thursday morning around 9.24 a.m. HK/SIN, the offshore yuan traded at 7.0518 against the dollar, weakening again after the yuan rebounded overnight on Tuesday — with U.S. President Donald Trump backing off on China tariffs.

The yuan depreciated past 7 per dollar last week for the first time since the global financial crisis of 2008, which prompted the U.S. Treasury Department to designate China as a currency manipulator.

Trump has repeatedly complained that a cheaper yuan will give China a trade advantage as it makes Chinese exports more attractive in international markets.

The PBOC lets the currency’s spot rate trade with a range of 2% above or below the day’s official midpoint fix and this is known as the onshore yuan. The less restrictive exchange rate used outside mainland China is known as the offshore yuan.

Investors usually look at the difference between the onshore and offshore exchange rates to determine if the Chinese central bank is manipulating the yuan.


Company: cnbc, Activity: cnbc, Date: 2019-08-15  Authors: weizhen tan
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China fixes its daily yuan midpoint at 7.0312 — stronger than expected

China’s central bank set the official midpoint reference for the yuan at 7.0312 per dollar on Wednesday — stronger than Tuesday’s fixing, and stronger than what analysts had predicted. The onshore yuan last traded at 7.0558 in Tuesday’s session, and on Wednesday morning around 10.00 a.m. HK/SIN was at 7.0236. The offshore yuan traded at 7.0397 against the dollar, slightly weaker than Tuesday’s close but stronger than the end of last week, when it hovered around the 7.09 level. The PBOC lets the


China’s central bank set the official midpoint reference for the yuan at 7.0312 per dollar on Wednesday — stronger than Tuesday’s fixing, and stronger than what analysts had predicted. The onshore yuan last traded at 7.0558 in Tuesday’s session, and on Wednesday morning around 10.00 a.m. HK/SIN was at 7.0236. The offshore yuan traded at 7.0397 against the dollar, slightly weaker than Tuesday’s close but stronger than the end of last week, when it hovered around the 7.09 level. The PBOC lets the
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Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: weizhen tan huileng tan, weizhen tan, huileng tan
Keywords: news, cnbc, companies, yuan, offshore, dollar, bank, fixes, stronger, expected, daily, weaker, china, 70312, tuesdays, midpoint, onshore


China fixes its daily yuan midpoint at 7.0312 — stronger than expected

China’s central bank set the official midpoint reference for the yuan at 7.0312 per dollar on Wednesday — stronger than Tuesday’s fixing, and stronger than what analysts had predicted.

It was, still, the fifth consecutive session where the People’s Bank of China (PBOC) fixed the midpoint at a level weaker than the psychologically important 7-yuan-per-dollar mark.

Analysts were predicting the midpoint to be set at 7.0502 per dollar, according to Reuters estimates. The onshore yuan last traded at 7.0558 in Tuesday’s session, and on Wednesday morning around 10.00 a.m. HK/SIN was at 7.0236. The offshore yuan traded at 7.0397 against the dollar, slightly weaker than Tuesday’s close but stronger than the end of last week, when it hovered around the 7.09 level.

The yuan depreciated past 7 per dollar last week for the first time since the global financial crisis of 2008, which prompted the U.S. Treasury Department to designate China as a currency manipulator.

A weaker currency makes a country’s exports more attractive in international markets and U.S. President Donald Trump has complained that a cheaper yuan will give China a trade advantage.

The PBOC lets the currency’s spot rate trade with a range of 2% above or below the day’s official midpoint fix and this is known as the onshore yuan. The less restrictive exchange rate used outside mainland China is known as the offshore yuan.

Investors usually look at the difference between the onshore and offshore exchange rates to determine if the Chinese central bank is manipulating the yuan.

According to David Dollar, a Brookings Institution senior fellow, China is not manipulating its currency.

“Given the tariffs that the U.S. has imposed on China, it’s natural for the Chinese currency to depreciate. Most emerging market currencies are depreciating against the dollar if you look at the last half year or so,” he told CNBC on Wednesday.

Due to slowing growth and investment in China, the yuan could even continue to gradually weaken up to 7.2 against the dollar, said Max Lin, emerging markets Asia strategist at NatWest Markets.

Despite that, the possibility of investors moving their money out of China due to the weakening yuan is limited, he said.

“I don’t expect any capital flight concerns to actually occur, just because I think any kind of weakness from here on out would be very gradual. If there are signs of panic dollar buying onshore, I think at that point, the central bank of China would definitely step in to stabilize the yuan,” he told CNBC on “Squawk Box.”

— CNBC’s Saheli Roy Choudhury contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: weizhen tan huileng tan, weizhen tan, huileng tan
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Major Asia Pacific markets higher; trade war concerns dampen investor sentiment

Major markets in Asia Pacific closed higher on Monday, following a volatile week for global markets as growing trade war fears dented investor sentiment. Mainland Chinese markets bounced back from the previous week’s losses to close higher Monday. Markets in rest of the region rose, with major indexes in Japan, India and Singapore closed for public holidays. Major miners struggled for gains: Rio Tinto shares tumbled 2.75%, BHP shares were down 0.75% and Fortescue dropped 3.99%. “A risk-off tone


Major markets in Asia Pacific closed higher on Monday, following a volatile week for global markets as growing trade war fears dented investor sentiment. Mainland Chinese markets bounced back from the previous week’s losses to close higher Monday. Markets in rest of the region rose, with major indexes in Japan, India and Singapore closed for public holidays. Major miners struggled for gains: Rio Tinto shares tumbled 2.75%, BHP shares were down 0.75% and Fortescue dropped 3.99%. “A risk-off tone
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Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: weizhen tan saheli roy choudhury, weizhen tan, saheli roy choudhury
Keywords: news, cnbc, companies, pacific, concerns, sentiment, trade, major, higher, war, losses, week, markets, tumbled, close, shares, hong, investor, dampen


Major Asia Pacific markets higher; trade war concerns dampen investor sentiment

Major markets in Asia Pacific closed higher on Monday, following a volatile week for global markets as growing trade war fears dented investor sentiment.

Mainland Chinese markets bounced back from the previous week’s losses to close higher Monday. The Shanghai composite traded up 1.45% to close at 2,814.99 while the Shenzhen composite added 1.92% to 1,508.21. Hong Kong’s Hang Seng index was fractionally higher at 25,962.42 as of 3:15 p.m. HK/SIN.

But, shares of Hong Kong flag carrier Cathay Pacific tumbled more than 4% as of 3:15 p.m. HK/SIN after it suspended a pilot for his involvement in the ongoing anti-government protests in the city. The carrier said “overly radical” staff would be barred from crewing flights to the mainland. Cathay’s decision came a day after China’s aviation authority issued a “major aviation safety risk warning” to the airline.

Unrest in Hong Kong continued into its 10th week, with police and protesters clashing on Sunday.

Markets in rest of the region rose, with major indexes in Japan, India and Singapore closed for public holidays.

Australia’s benchmark S&P/ASX 200 retraced some of its early losses to climb marginally higher to 6,590.30. Major miners struggled for gains: Rio Tinto shares tumbled 2.75%, BHP shares were down 0.75% and Fortescue dropped 3.99%.

In South Korea, the Kospi clawed back losses to rise 0.23% to close at 1,942,29.

Overall, MSCI’s broadest index of Asia-Pacific shares outside Japan was almost flat.

“Trade tensions continued to drive financial market moves going into the end of the week, with markets very sensitive to reports on the US-China relationship,” Jack Chambers from ANZ Research wrote in a Monday morning note. “A risk-off tone hit the markets as President Trump warned that talks scheduled for next month may not take place.”


Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: weizhen tan saheli roy choudhury, weizhen tan, saheli roy choudhury
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Major Asia Pacific markets higher; trade war concerns dampen investor sentiment

Major markets in Asia Pacific closed higher on Monday, following a volatile week for global markets as growing trade war fears dented investor sentiment. Mainland Chinese markets bounced back from the previous week’s losses to close higher Monday. Markets in rest of the region rose, with major indexes in Japan, India and Singapore closed for public holidays. Major miners struggled for gains: Rio Tinto shares tumbled 2.75%, BHP shares were down 0.75% and Fortescue dropped 3.99%. “A risk-off tone


Major markets in Asia Pacific closed higher on Monday, following a volatile week for global markets as growing trade war fears dented investor sentiment. Mainland Chinese markets bounced back from the previous week’s losses to close higher Monday. Markets in rest of the region rose, with major indexes in Japan, India and Singapore closed for public holidays. Major miners struggled for gains: Rio Tinto shares tumbled 2.75%, BHP shares were down 0.75% and Fortescue dropped 3.99%. “A risk-off tone
Major Asia Pacific markets higher; trade war concerns dampen investor sentiment Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: weizhen tan saheli roy choudhury, weizhen tan, saheli roy choudhury
Keywords: news, cnbc, companies, dampen, close, investor, markets, pacific, higher, tumbled, week, shares, concerns, trade, war, losses, sentiment, hong, major


Major Asia Pacific markets higher; trade war concerns dampen investor sentiment

Major markets in Asia Pacific closed higher on Monday, following a volatile week for global markets as growing trade war fears dented investor sentiment.

Mainland Chinese markets bounced back from the previous week’s losses to close higher Monday. The Shanghai composite traded up 1.45% to close at 2,814.99 while the Shenzhen composite added 1.92% to 1,508.21. Hong Kong’s Hang Seng index was fractionally higher at 25,962.42 as of 3:15 p.m. HK/SIN.

But, shares of Hong Kong flag carrier Cathay Pacific tumbled more than 4% as of 3:15 p.m. HK/SIN after it suspended a pilot for his involvement in the ongoing anti-government protests in the city. The carrier said “overly radical” staff would be barred from crewing flights to the mainland. Cathay’s decision came a day after China’s aviation authority issued a “major aviation safety risk warning” to the airline.

Unrest in Hong Kong continued into its 10th week, with police and protesters clashing on Sunday.

Markets in rest of the region rose, with major indexes in Japan, India and Singapore closed for public holidays.

Australia’s benchmark S&P/ASX 200 retraced some of its early losses to climb marginally higher to 6,590.30. Major miners struggled for gains: Rio Tinto shares tumbled 2.75%, BHP shares were down 0.75% and Fortescue dropped 3.99%.

In South Korea, the Kospi clawed back losses to rise 0.23% to close at 1,942,29.

Overall, MSCI’s broadest index of Asia-Pacific shares outside Japan was almost flat.

“Trade tensions continued to drive financial market moves going into the end of the week, with markets very sensitive to reports on the US-China relationship,” Jack Chambers from ANZ Research wrote in a Monday morning note. “A risk-off tone hit the markets as President Trump warned that talks scheduled for next month may not take place.”


Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: weizhen tan saheli roy choudhury, weizhen tan, saheli roy choudhury
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Chicken’s a winner as diners turn to other meat amid swine fever in China

Poultry producers are cashing in as China’s swine fever crisis shows no sign of abating, sending prices of chicken soaring. Prices of white-feathered chicken have jumped by almost 50%, Dutch bank Rabobank told CNBC. Rory Green, an economist at TS Lombard, told CNBC that chicken prices will follow pork prices upward in the second half of this year. “Poultry is now considered the safe option as health concerns mount over (African swine fever) contagion, further boosting demand,” he told CNBC in an


Poultry producers are cashing in as China’s swine fever crisis shows no sign of abating, sending prices of chicken soaring. Prices of white-feathered chicken have jumped by almost 50%, Dutch bank Rabobank told CNBC. Rory Green, an economist at TS Lombard, told CNBC that chicken prices will follow pork prices upward in the second half of this year. “Poultry is now considered the safe option as health concerns mount over (African swine fever) contagion, further boosting demand,” he told CNBC in an
Chicken’s a winner as diners turn to other meat amid swine fever in China Cached Page below :
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Chicken's a winner as diners turn to other meat amid swine fever in China

Poultry producers are cashing in as China’s swine fever crisis shows no sign of abating, sending prices of chicken soaring. Shares of breeders, meanwhile, have skyrocketed.

Prices of white-feathered chicken have jumped by almost 50%, Dutch bank Rabobank told CNBC. They were hovering around 7.5 yuan (about $1.08) per kg for the past two years, but peaked to around 11 yuan per kg in May this year, according to the firm, which pointed out that it broke the previous record high.

While prices moderated in June, analysts expect poultry costs to rise for the rest of this year, with pork shortages set to continue due to African swine fever that has swept across China and killed millions of pigs.

Rory Green, an economist at TS Lombard, told CNBC that chicken prices will follow pork prices upward in the second half of this year.

“Poultry is now considered the safe option as health concerns mount over (African swine fever) contagion, further boosting demand,” he told CNBC in an email.

The pig herd in China, the world’s biggest pork producer, was estimated to have shrunk by 40% from a year ago, according to Rabobank estimates. The bank said on Tuesday the hog population could halve by the end of 2019.


Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: weizhen tan
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Thailand’s currency keeps getting stronger and that’s sparking concerns

That strength, however, is sparking concerns as the country’s domestic economy weakens, analysts said. Since the beginning of this year, Thailand’s currency has jumped more than 5% against the dollar. A stronger currency makes the country’s exports more expensive, causing them to be less attractive in international markets. Analysts at Singapore bank DBS said Monday that the strong baht is bad news for Thailand’s trade competitiveness. “While this should stem the appreciation pressure somewhat,


That strength, however, is sparking concerns as the country’s domestic economy weakens, analysts said. Since the beginning of this year, Thailand’s currency has jumped more than 5% against the dollar. A stronger currency makes the country’s exports more expensive, causing them to be less attractive in international markets. Analysts at Singapore bank DBS said Monday that the strong baht is bad news for Thailand’s trade competitiveness. “While this should stem the appreciation pressure somewhat,
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Keywords: news, cnbc, companies, thailands, stronger, analysts, bank, thats, exports, getting, concerns, baht, keeps, currency, cut, emerging, countrys, dollar, sparking, trade


Thailand's currency keeps getting stronger and that's sparking concerns

The Thai baht has soared against the U.S. dollar this year, significantly more than many other emerging market currencies.

That strength, however, is sparking concerns as the country’s domestic economy weakens, analysts said.

Since the beginning of this year, Thailand’s currency has jumped more than 5% against the dollar. On a year-over-year basis, it has bounded even higher — nearly 8%.

Other top performing emerging market currencies in the region have also strengthened against the dollar — but still lag behind the baht. Both the Indonesian rupiah and the Philippine peso, for instance, have risen more than 3% against the dollar so far this year.

“Policymakers and exporters in Thailand are once again voicing concern about the strength of the baht,” Gareth Leather, senior Asia economist at research firm Capital Economics, wrote in a note earlier this month. “While most (emerging market) currencies have appreciated against the US dollar in recent months, none have risen by as much as the baht.”

The strength of the baht has been supported by Thailand’s large trade surplus and a hawkish central bank, among other factors.

“(The) strong currency is worsening the (Thai) economy’s plight by hurting exports further,” Prakash Sakpal, Asia economist at Dutch bank ING, told CNBC.

A stronger currency makes the country’s exports more expensive, causing them to be less attractive in international markets.

Analysts at Singapore bank DBS said Monday that the strong baht is bad news for Thailand’s trade competitiveness. They cited a study by the Bank of Thailand, which showed that, for every 1% the baht strengthened against the dollar, it increases export prices — in dollar terms — by 0.3%.

Meanwhile, exports are already declining. They dropped for the third straight month in May, falling 5.79% from a year earlier. That was worse than the 3.6% decrease analysts had projected in a Reuters poll.

On Tuesday, data showed the country’s manufacturing output for June headed the same way: It fell 5.54% from a year earlier, which was worse than the forecast of a 3.15% decline.

“Considering these weak trade trends, together with a challenging outlook for regional growth … a strong currency comes at an inopportune time,” DBS analysts wrote, referring to slowing exports and imports, as well as declining tourism.

The country’s central bank could give in to pressure and cut rates to curb the rising baht, economists said. Still, they were not optimistic about the effectiveness of such a move.

“The (Bank of Thailand) could consider a rate cut to help reduce the baht’s yield appeal, but it will be no panacea,” DBS analysts said in their note, adding that a cut of 25 basis points would just undo a hike by the central bank last December.

ING’s Sakpal similarly said that any cut would see limited results.

“While this should stem the appreciation pressure somewhat, we may not see the (baht) being displaced from its best-performer emerging currency status just yet,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-07-31  Authors: weizhen tan
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Abe’s ruling coalition wins majority in Japan polls, but lacks enough seats for reform

Japan Prime Minister and ruling Liberal Democratic Party President Shinzo Abe at an election campaign rally in Japan. Japan’s Prime Minister Shinzo Abe and his ruling coalition party won a majority in the country’s upper house elections on Sunday — but they failed to secure enough votes needed for Abe’s long-held dream of revising the constitution. Abe’s Liberal Democratic Party and its partner, the Komeito Party, won at least 69 of the 124 seats contested in parliament’s 245-seat upper house —


Japan Prime Minister and ruling Liberal Democratic Party President Shinzo Abe at an election campaign rally in Japan. Japan’s Prime Minister Shinzo Abe and his ruling coalition party won a majority in the country’s upper house elections on Sunday — but they failed to secure enough votes needed for Abe’s long-held dream of revising the constitution. Abe’s Liberal Democratic Party and its partner, the Komeito Party, won at least 69 of the 124 seats contested in parliament’s 245-seat upper house —
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Abe's ruling coalition wins majority in Japan polls, but lacks enough seats for reform

Japan Prime Minister and ruling Liberal Democratic Party President Shinzo Abe at an election campaign rally in Japan.

Japan’s Prime Minister Shinzo Abe and his ruling coalition party won a majority in the country’s upper house elections on Sunday — but they failed to secure enough votes needed for Abe’s long-held dream of revising the constitution.

Abe’s Liberal Democratic Party and its partner, the Komeito Party, won at least 69 of the 124 seats contested in parliament’s 245-seat upper house — with nine seats yet to be called, according to Japanese media reports.

But the coalition fell short of a two-thirds “super majority” — or 85 seats — needed to revise the country’s constitution. The move would allow Japan to further legitimize its military, and end a ban that has kept its armed forces from fighting abroad since 1945, when World War II ended.


Company: cnbc, Activity: cnbc, Date: 2019-07-22  Authors: weizhen tan
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Abe’s on track to win at the polls, but he needs to spend more to fix Japan’s economy: Analyst

Japan will go to the polls this weekend, and analysts are expecting the ruling coalition to win again — an outcome that would maintain political stability in the country amid a slowing economy. “According to most polls, it looks like (Liberal Democratic Party) and (Komeito Party) will comfortably retain their majority … the political stability is still going to be there,” Izumi Devalier, head of Japan economics at Bank of America Merrill Lynch, told CNBC on Friday. Incumbent Prime Minister Shi


Japan will go to the polls this weekend, and analysts are expecting the ruling coalition to win again — an outcome that would maintain political stability in the country amid a slowing economy. “According to most polls, it looks like (Liberal Democratic Party) and (Komeito Party) will comfortably retain their majority … the political stability is still going to be there,” Izumi Devalier, head of Japan economics at Bank of America Merrill Lynch, told CNBC on Friday. Incumbent Prime Minister Shi
Abe’s on track to win at the polls, but he needs to spend more to fix Japan’s economy: Analyst Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: weizhen tan
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Abe's on track to win at the polls, but he needs to spend more to fix Japan's economy: Analyst

Japan will go to the polls this weekend, and analysts are expecting the ruling coalition to win again — an outcome that would maintain political stability in the country amid a slowing economy.

“According to most polls, it looks like (Liberal Democratic Party) and (Komeito Party) will comfortably retain their majority … the political stability is still going to be there,” Izumi Devalier, head of Japan economics at Bank of America Merrill Lynch, told CNBC on Friday.

Incumbent Prime Minister Shinzo Abe’s ruling coalition — the LDP and its partner, the Komeito party — currently has the upper house majority of 147 out of 242 upper house seats. There are 124 seats up for grabs in the upper house election on Sunday.


Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: weizhen tan
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Investors should buy Chinese internet stocks, UBS and Credit Suisse say

Chinese internet stocks may be a good buy for investors, according to global investment banks UBS and Credit Suisse. Amid that, Chinese internet companies have seen their stocks stumble. That assessment was also expressed by UBS Global Wealth Management in a briefing in Singapore on Monday. “Clearly we want to focus on those names and those sectors within that broad group which have a profound domestic focus. Actually, the internet stocks do have an overwhelmingly domestic focus.


Chinese internet stocks may be a good buy for investors, according to global investment banks UBS and Credit Suisse. Amid that, Chinese internet companies have seen their stocks stumble. That assessment was also expressed by UBS Global Wealth Management in a briefing in Singapore on Monday. “Clearly we want to focus on those names and those sectors within that broad group which have a profound domestic focus. Actually, the internet stocks do have an overwhelmingly domestic focus.
Investors should buy Chinese internet stocks, UBS and Credit Suisse say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-09  Authors: weizhen tan
Keywords: news, cnbc, companies, ubs, say, buy, domestic, stocks, woods, global, suisse, focus, companies, credit, internet, investors, investment, chinese


Investors should buy Chinese internet stocks, UBS and Credit Suisse say

A monitor displays Alibaba Group signage on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Monday, Jan. 7, 2019.

Chinese internet stocks may be a good buy for investors, according to global investment banks UBS and Credit Suisse.

Technology has emerged as a heated battleground in the ongoing U.S.-China trade conflict as both countries seek to dominate new areas like 5G and artificial intelligence. Amid that, Chinese internet companies have seen their stocks stumble. Still, John Woods, Credit Suisse’s chief investment officer for Asia Pacific, said the sector appears to be a solid bet.

“Internet is essentially a structural growth story in China. We don’t see it changing anytime soon,” Woods told CNBC on Tuesday. “It sold off aggressively … from mid-April. So we feel there’s upside in that particular sector.”

That assessment was also expressed by UBS Global Wealth Management in a briefing in Singapore on Monday.

Tan Min Lan, the head of the Asia Pacific Investment Office at UBS Global Wealth Management, said that Chinese internet companies offered “solid share buyback prospects” and have high cash flows.

Although Chinese tech companies such as Baidu, Tencent and Alibaba have been exposed to U.S.-China trade tensions, Woods pointed out that they are largely focused on the domestic market.

“Clearly we want to focus on those names and those sectors within that broad group which have a profound domestic focus. Actually, the internet stocks do have an overwhelmingly domestic focus. They are not really export-oriented,” Woods said. “They’re absolutely focused on consumption plays, services plays within the domestic economy and those are the ones we want to focus on.”


Company: cnbc, Activity: cnbc, Date: 2019-07-09  Authors: weizhen tan
Keywords: news, cnbc, companies, ubs, say, buy, domestic, stocks, woods, global, suisse, focus, companies, credit, internet, investors, investment, chinese


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