‘The worst has yet to come,’ analyst says of China coronavirus outbreak

Hundreds of millions of Chinese will traveling during the week-long holiday period as China celebrates the Spring Festival. “The bad news is that the worst has yet to come, as the number of new infections is still on the rise,” warned Larry Hu, economist at Macquarie Capital. The disease, first discovered in the Chinese city of Wuhan, has spread to Beijing, Shanghai and other populated cities in the country. A U.S. resident who returned from China was among those diagnosed with the Wuhan coronav


Hundreds of millions of Chinese will traveling during the week-long holiday period as China celebrates the Spring Festival.
“The bad news is that the worst has yet to come, as the number of new infections is still on the rise,” warned Larry Hu, economist at Macquarie Capital.
The disease, first discovered in the Chinese city of Wuhan, has spread to Beijing, Shanghai and other populated cities in the country.
A U.S. resident who returned from China was among those diagnosed with the Wuhan coronav
‘The worst has yet to come,’ analyst says of China coronavirus outbreak Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-23  Authors: weizhen tan
Keywords: news, cnbc, companies, really, outbreak, rate, china, analyst, spread, worst, come, infections, chinese, sars, virus, coronavirus, wuhan


'The worst has yet to come,' analyst says of China coronavirus outbreak

The severity of the rapidly spreading coronavirus outbreak in China that’s claimed more than a dozen lives is still unknown, and the extent of its spread will only be clearer after the Lunar New Year holidays, said David Roche of Independent Strategy said on Thursday.

Hundreds of millions of Chinese will traveling during the week-long holiday period as China celebrates the Spring Festival.

“The bad news is that the worst has yet to come, as the number of new infections is still on the rise,” warned Larry Hu, economist at Macquarie Capital.

Much is still not known about the mysterious new virus that has killed 17 people so far and infected nearly 600 others worldwide. The disease, first discovered in the Chinese city of Wuhan, has spread to Beijing, Shanghai and other populated cities in the country. Cases in Thailand, Japan, South Korea and even the United States, have also been discovered.

The World Health Organization will convene again on Thursday, a day after deciding not to designate the outbreak of the virus as a global health emergency.

“We don’t really know the characteristics of this virus yet,” David Roche of Independent Strategy said on Thursday.

He pointed out that one important question is whether the outbreak will morph into a pandemic.

“In order to get a pandemic, you really have to have a virulent infection to be exponential … many of these new cases are due to much tighter reporting, not necessarily a rate of infection. So we really don’t know to what extent the rate of contagion,” he said.

“The answer is wait till after Chinese New Year … we will know the degree, the speed and the breath of infections by this virus, and get a much clearer idea on mortality,” he said. “It’s … when people come back (after Lunar New Year), that’s the crunch point, in terms of the spread of the virus, the contagion, and the fatality.”

Mainland China: 571

Hong Kong: 2

Macau: 1

Taiwan: 1

South Korea: 1

Japan: 1

Thailand: 4

United States: 1 * Chinese cities with reported cases include Wuhan (Hubei), Beijing, Shanghai, Zhejiang, Guangdong, Hebei, Liaoning, Jiangsu, Fujian

Another characteristic in question is the mortality rate. “You have to have a very high mortality rate to really create a pandemic. In SARS, it hit 60%, 70%, 80% at one point. So far the mortality rate here is 3.4%, which is low,” Roche said, drawing a comparison with severe acute respiratory syndrome — a deadly epidemic which occurred between 2002 and 2003.

The new coronavirus, which could lead to a type of pneumonia, has sparked alarm as it comes from the same family of viruses as SARS, which killed nearly 800.

The new outbreak was first reported in late December, and thought to have originated from a wholesale seafood market in the Chinese city of Wuhan. Officials have confirmed the new virus can spread between humans, and the World Health Organization said it appears the outbreak began in an animal source.

A U.S. resident who returned from China was among those diagnosed with the Wuhan coronavirus.

Speaking to CNBC’s Joe Kernen at the World Economic Forum in Davos, U.S. President Donald Trump said: “We have it totally under control. It’s one person coming in from China. We have it under control. It’s going to be just fine.”

The number of new infections is set to rise further given that the virus has a two-week incubation period, Macquarie’s Hu said in a note. “The lesson from SARS suggests that the turning point for sentiment will come only after the number of new infections starts falling.”

Furthermore, the “largest people movement on the planet” is underway, Hu said referring to the extensive travel during the Lunar New Year celebrations.

The number of travelers have increased multiple times in China, as compared with 17 years ago during SARS, Hu added, further compounding the risk of even more infections.


Company: cnbc, Activity: cnbc, Date: 2020-01-23  Authors: weizhen tan
Keywords: news, cnbc, companies, really, outbreak, rate, china, analyst, spread, worst, come, infections, chinese, sars, virus, coronavirus, wuhan


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India’s shadow lending sector is in a ‘better position’ after two years of clean up, says bank chairman

Shadow banking refers to often high-yield lending undertaken by NBFCs that takes place outside the regular banking sector. Rajnish Kumar, chairman of the State Bank of India, acknowledged that India’s non-bank financial companies (NBFCs) — often referred to as shadow lenders — faces funding challenges, but he struck an optimistic tone about the outlook. India’s troubled shadow banking sector is not out of the woods yet, but it may be in a “much better position” than before, said the chairman of


Shadow banking refers to often high-yield lending undertaken by NBFCs that takes place outside the regular banking sector.
Rajnish Kumar, chairman of the State Bank of India, acknowledged that India’s non-bank financial companies (NBFCs) — often referred to as shadow lenders — faces funding challenges, but he struck an optimistic tone about the outlook.
India’s troubled shadow banking sector is not out of the woods yet, but it may be in a “much better position” than before, said the chairman of
India’s shadow lending sector is in a ‘better position’ after two years of clean up, says bank chairman Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-23  Authors: weizhen tan
Keywords: news, cnbc, companies, lenders, banks, shadow, better, nbfcs, financial, sector, nonbank, clean, bank, indias, position, chairman, loans, lending, funds


India's shadow lending sector is in a 'better position' after two years of clean up, says bank chairman

Shadow banking refers to often high-yield lending undertaken by NBFCs that takes place outside the regular banking sector. They are not subject to strict regulation and can sometimes be risky.

Rajnish Kumar, chairman of the State Bank of India, acknowledged that India’s non-bank financial companies (NBFCs) — often referred to as shadow lenders — faces funding challenges, but he struck an optimistic tone about the outlook.

India’s troubled shadow banking sector is not out of the woods yet, but it may be in a “much better position” than before, said the chairman of the country’s largest public lender.

Some (NBFCs) which may be weak or facing solvency issues, that may still be a cause of concern and that needs to be washed out. But today, we’re in a much better position.

“In the last two years, we have been doing clean-up and clean-up. So we are coming out of that,” Kumar told CNBC’s Karen Tso at the World Economic Forum in Davos, Switzerland earlier this week.

“Some (NBFCs) which may be weak or facing solvency issues, that may still be a cause of concern and that needs to be washed out. But today, we’re in a much better position,” he said.

India’s non-bank financial sector has been facing a crisis in the past few years, with many non-bank lenders struggling with bad assets and corporate governance issues.

Non-bank lenders dish out long-term loans to companies and fund them by taking short-term loans from banks and mutual funds. But many of those companies that borrowed money from the shadow lenders defaulted on payments, and left the NBFCs unable to service loans they took from the banks and mutual funds.

One high-profile case was when the government took over operations at a financing firm, called Infrastructure Leasing and Financial Services, after they defaulted in 2018. Another company — Dewan Housing Finance — had multiple defaults on interest payments last year, citing cashflow problems.

That led to India’s central bank warning last year that the collapse of a large Indian non-bank financial company could inflict as much damage as that of a commercial bank.

Now the shadow banks are becoming more strategic in raising funds, according to Kumar.

“They have been able to raise funds in international markets, they have been able to raise funds in equity markets. I don’t think that we need to take such a gloomy view, but I would not say that we just don’t keep an eye or don’t be watchful,” he said. “My assessment is … we’re much more confident than we were six months ago.”

India’s banks have also been laden by debt and are said to have the highest exposure to bad loans. But the government has pumped billions of dollars to help those troubled lenders, in exchange for them implementing reforms.

Those reforms are set to strengthen the sector over the next few years, analysts have said.

Last December, the Reserve Bank of India said that India’s financial system “remains stable” even as domestic growth is weakening. It said the resilience of the bank sector has improved following a restructuring of public sector banks.


Company: cnbc, Activity: cnbc, Date: 2020-01-23  Authors: weizhen tan
Keywords: news, cnbc, companies, lenders, banks, shadow, better, nbfcs, financial, sector, nonbank, clean, bank, indias, position, chairman, loans, lending, funds


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China coronavirus: The confirmed cases and where they are

A new strain of virus that was first reported in China has killed 17 people and infected nearly 600 others. Abroad, Thailand has confirmed cases, and the United States, Taiwan, South Korea, and Japan have each reported one case. On Thursday, China put on lockdown the two cities at the epicenter of a new coronavirus outbreak. State media reported highway toll booths around Wuhan were closing down, which would effectively cut off road exits. Here’s a snapshot of the number of known cases and where


A new strain of virus that was first reported in China has killed 17 people and infected nearly 600 others.
Abroad, Thailand has confirmed cases, and the United States, Taiwan, South Korea, and Japan have each reported one case.
On Thursday, China put on lockdown the two cities at the epicenter of a new coronavirus outbreak.
State media reported highway toll booths around Wuhan were closing down, which would effectively cut off road exits.
Here’s a snapshot of the number of known cases and where
China coronavirus: The confirmed cases and where they are Cached Page below :
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China coronavirus: The confirmed cases and where they are

A new strain of virus that was first reported in China has killed 17 people and infected nearly 600 others.

Sometimes referred to as the Wuhan virus, it has been temporarily named the “2019-nCoV” and belongs to a family of viruses known as coronaviruses, which can be transmitted from person to person.

The deadly pneumonia-like disease was first identified on December 31, 2019, in the Chinese city of Wuhan in Hubei Province. It has since spread beyond Wuhan to major cities such as Beijing, Shanghai, Macau, and Hong Kong. Abroad, Thailand has confirmed cases, and the United States, Taiwan, South Korea, and Japan have each reported one case.

China’s capital city Beijing canceled major public events including two well-known Lunar New Year temple fairs, the state-run Beijing News said on Thursday, as authorities try to curb the spread of a deadly coronavirus outbreak.

Separately, the country’s railway operator, China State Railway Group, said passengers would be able to receive full refunds on tickets nationwide starting on Friday.

On Thursday, China put on lockdown the two cities at the epicenter of a new coronavirus outbreak. Most transport in Wuhan, a city of 11 million people, was suspended on Thursday morning and people were told not to leave. Hours later, state media in neighboring Huanggang, a city of some 6 million people, said it was imposing a similar lockdown.

Wuhan’s city government said it would shut down all urban transport networks and suspend outgoing flights from 10 a.m. (0200 GMT). Domestic media said some airlines were operating after the deadline, however.

State media broadcast images of one of Wuhan’s transport hubs, the Hankou rail station, nearly deserted, with gates blocked or barred. The government is urging citizens not to leave the city.

State media reported highway toll booths around Wuhan were closing down, which would effectively cut off road exits. Guards were patrolling major highways, one resident told Reuters.

Similar measures will take effect starting Friday in the nearby city of Ezhou. Theaters, internet cafes and other entertainment centers were also ordered closed, further increasing the economic costs of the response to the outbreak.

“The lockdown of 11 million people is unprecedented in public health history, so it is certainly not a recommendation the WHO has made,” Gauden Galea, the World Health Organization’s representative in Beijing, told Reuters.

The World Health Organization is debating on whether it should classify the outbreak a global health emergency.

Here’s a snapshot of the number of known cases and where they are, as well as confirmed deaths.


Company: cnbc, Activity: cnbc, Date: 2020-01-23  Authors: weizhen tan joanna tan, weizhen tan, joanna tan
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China says virus that killed 4 can spread between people. Here’s what we know about the outbreak

The outbreak of a new coronavirus stemming from Wuhan, China has killed four people with confirmed cases totaling more than 200 ahead of the massive Lunar New Year holiday during which hundreds of millions of people are expected to travel. As of Monday evening, the number of confirmed cases in China stood at 218 — with 198 in Wuhan — and four known deaths. SARS, a severe epidemic which emerged in China in 2002, killed nearly 800 people worldwide. “I remember the SARS outbreak very, very clearly


The outbreak of a new coronavirus stemming from Wuhan, China has killed four people with confirmed cases totaling more than 200 ahead of the massive Lunar New Year holiday during which hundreds of millions of people are expected to travel.
As of Monday evening, the number of confirmed cases in China stood at 218 — with 198 in Wuhan — and four known deaths.
SARS, a severe epidemic which emerged in China in 2002, killed nearly 800 people worldwide.
“I remember the SARS outbreak very, very clearly
China says virus that killed 4 can spread between people. Here’s what we know about the outbreak Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-21  Authors: weizhen tan
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China says virus that killed 4 can spread between people. Here's what we know about the outbreak

The outbreak of a new coronavirus stemming from Wuhan, China has killed four people with confirmed cases totaling more than 200 ahead of the massive Lunar New Year holiday during which hundreds of millions of people are expected to travel. Late Monday, China’s authorities confirmed that the virus can pass from person to person. The outbreak could hit the economy, experts warned as they called back to the fallout from the deadly Severe Acute Respiratory Syndrome (SARS) crisis in 2003.

The Wuhan virus — what it is and where it started

The coronavirus, which causes a type of pneumonia, was thought to have first originated at a wholesale seafood market in the Chinese city of Wuhan. It was first reported in late December. The World Health Organization said it appears the outbreak began in an animal source. On Sunday, China’s National Health Commission said the source of the virus remains unknown and that its transmission path hasn’t been completely traced. As of Monday evening, the number of confirmed cases in China stood at 218 — with 198 in Wuhan — and four known deaths. Authorities also confirmed five cases in Beijing, and one case in Shanghai, and 14 in the Guangdong province. Cases have also been reported in Thailand, South Korea and Japan. Symptoms include a fever and difficulty in breathing, and there is no vaccine for this new virus yet. The outbreak comes ahead of the Lunar New Year holiday period this week, when millions of Chinese will travel domestically and overseas — heightening the risk of more transmissions. The WHO said it will convene an emergency committee on the virus on Wednesday.

Comparison with SARS

The outbreak has sparked alarm because the disease is in the same family of viruses as SARS. SARS, a severe epidemic which emerged in China in 2002, killed nearly 800 people worldwide. It hit Asian cities such as Hong Kong, Singapore, Taipei and Beijing the hardest and triggered a severe downturn in the region. “I remember the SARS outbreak very, very clearly and the impact it had. These things have an enormous hit on economies,” said Rob Carnell, Dutch bank ING’s chief economist, adding that some countries even slipped into recession. “It is not inconceivable that if Wuhan becomes more widely spread, and starts to claim more lives, that it will result in a similar response,” added Carnell.

At the time, the rapid spread of SARS was blamed on a lack of transparency by the Chinese authorities. In an opinion editorial published Sunday, state tabloid Global Times wrote, “In the early moments of SARS, there was concealment in China. This must not be repeated.” This time, however, experts say China has moved more rapidly to deal with the crisis and also said that the virus appears to be less fatal than SARS. Chinese President Xi Jinping said on Monday that containing the spread of the coronavirus should be a “top priority,” according to state media. “Government and World Health Organization reports indicate that the virus is both less virulent and less deadly than SARS. The response from Beijing is also far faster this time than it was in 2002-04,” said Rory Green, economist for China and South Korea at research firm TS Lombard.

Impact on economy


Company: cnbc, Activity: cnbc, Date: 2020-01-21  Authors: weizhen tan
Keywords: news, cnbc, companies, know, spread, heres, china, severe, cases, virus, wuhan, killed, sars, confirmed, chinese, outbreak


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Asia shares set to trade higher with all eyes on upcoming China GDP data

Markets in Asia are set to trade higher on Friday, as traders wait for the release of China’s gross domestic product (GDP) numbers. Futures pointed to a higher open for Japan’s Nikkei 225 as compared with the index’s last close. All eyes will be on the release of China’s GDP data for the fourth quarter on Friday. Data earlier this week also showed that the country’s exports rose for the first time in five months in December, and its imports beat estimates. The offshore yuan traded at 6.8765, as


Markets in Asia are set to trade higher on Friday, as traders wait for the release of China’s gross domestic product (GDP) numbers.
Futures pointed to a higher open for Japan’s Nikkei 225 as compared with the index’s last close.
All eyes will be on the release of China’s GDP data for the fourth quarter on Friday.
Data earlier this week also showed that the country’s exports rose for the first time in five months in December, and its imports beat estimates.
The offshore yuan traded at 6.8765, as
Asia shares set to trade higher with all eyes on upcoming China GDP data Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: weizhen tan
Keywords: news, cnbc, companies, china, seen, higher, yuan, gdp, earlier, eyes, release, set, upcoming, data, week, asia, quarter, shares, trade, growth


Asia shares set to trade higher with all eyes on upcoming China GDP data

Markets in Asia are set to trade higher on Friday, as traders wait for the release of China’s gross domestic product (GDP) numbers.

Australia’s S&P/ASX 200 jumped 0.64% in early trade. Futures pointed to a higher open for Japan’s Nikkei 225 as compared with the index’s last close.

All eyes will be on the release of China’s GDP data for the fourth quarter on Friday. A Reuters poll predicted 6% growth from a year earlier. That would be unchanged from the pace in the third quarter, which was believed to be its slowest GDP gain in at least 27½ years.

China’s growth has been hit by the trade dispute with the U.S., among other factors. But both giants signed a “phase one” deal this week, which included some tariff relief. Data earlier this week also showed that the country’s exports rose for the first time in five months in December, and its imports beat estimates.

Ahead of the numbers, the Chinese yuan, which has been appreciating amid trade optimism, was stronger again. The offshore yuan traded at 6.8765, as compared to a high of 6.8945 seen earlier on Thursday. The onshore yuan was last at 6.8769, versus the 6.8899 seen on Wednesday.


Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: weizhen tan
Keywords: news, cnbc, companies, china, seen, higher, yuan, gdp, earlier, eyes, release, set, upcoming, data, week, asia, quarter, shares, trade, growth


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Asia stocks rise, yuan jumps amid increased trade optimism

Shares in Asia bounded higher on Tuesday as market sentiment improved ahead of the phase one trade deal signing between China and the U.S. later this week. Optimism rose further after Washington said Beijing was no longer a currency manipulator. The Shanghai composite traded down 0.28% to close at 3,106.82, and the Shenzhen composite fell 0.23% to 1,818.13. In December China’s trade surplus with the U.S. was $23.18 billion — down from $24.6 billion in November. Washington has demanded that Beiji


Shares in Asia bounded higher on Tuesday as market sentiment improved ahead of the phase one trade deal signing between China and the U.S. later this week.
Optimism rose further after Washington said Beijing was no longer a currency manipulator.
The Shanghai composite traded down 0.28% to close at 3,106.82, and the Shenzhen composite fell 0.23% to 1,818.13.
In December China’s trade surplus with the U.S. was $23.18 billion — down from $24.6 billion in November.
Washington has demanded that Beiji
Asia stocks rise, yuan jumps amid increased trade optimism Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: weizhen tan
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Asia stocks rise, yuan jumps amid increased trade optimism

Shares in Asia bounded higher on Tuesday as market sentiment improved ahead of the phase one trade deal signing between China and the U.S. later this week. Optimism rose further after Washington said Beijing was no longer a currency manipulator.

The Nikkei 225 climbed 0.73% to close at 24,025.17 and the Topix index was up 0.31% to 1,740.53 after Japanese markets returned from a public holiday on Monday. Shares of technology conglomerate Softbank surged 3.51%.

In South Korea, the Kospi gained 0.43% to close at 2,238.88.

Australia’s S&P/ASX 200 jumped 0.85% as major miners gained. Fortescue Metals and Rio Tinto both jumped 1.85%, and BHP Group rose 1.32%.

Chinese markets were the outliers during Tuesday’s session. The Shanghai composite traded down 0.28% to close at 3,106.82, and the Shenzhen composite fell 0.23% to 1,818.13. The Shenzhen component lost 0.47% to close at 10,988.77.

Hong Kong’s Hang Seng index declined 0.28% during the last hour of trade.

Overall, MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.18% by Tuesday afternoon.

China’s dollar-denominated imports from the U.S. rebounded in November and December, Reuters reported citing data from China’s customs released on Tuesday. It was the first time that its exports went up since March last year.

In December China’s trade surplus with the U.S. was $23.18 billion — down from $24.6 billion in November.

In particular, China’s soybean and pork imports from the U.S. significantly rebounded in December. Washington has demanded that Beijing buys more agricultural goods from the U.S. as part of their phase on trade deal — the signing of that agreement is set to happen on Wednesday in Washington. The deal is also expected to involve some rollback of tariffs.


Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: weizhen tan
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Mainland stocks jump as investors await US-China phase one deal signing

Stocks in Asia mostly rose by the close on Monday as investors await the signing of a phase-one trade deal between the U.S. and China. The Shanghai composite rose 0.75% to close at 3,115.57, while the Shenzhen composite jumped 1.36% to 1,822.35. In South Korea, the Kospi rose 1.04% to close at 2,229.26, with cosmetics stocks notching significant gains. Australia’s S&P/ASX 200 bucked the trend, declining 0.37% to close at 6,903.70, with oil stocks seeing losses. Taiwan’s benchmark Taiex index ros


Stocks in Asia mostly rose by the close on Monday as investors await the signing of a phase-one trade deal between the U.S. and China.
The Shanghai composite rose 0.75% to close at 3,115.57, while the Shenzhen composite jumped 1.36% to 1,822.35.
In South Korea, the Kospi rose 1.04% to close at 2,229.26, with cosmetics stocks notching significant gains.
Australia’s S&P/ASX 200 bucked the trend, declining 0.37% to close at 6,903.70, with oil stocks seeing losses.
Taiwan’s benchmark Taiex index ros
Mainland stocks jump as investors await US-China phase one deal signing Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-13  Authors: weizhen tan
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Mainland stocks jump as investors await US-China phase one deal signing

Stocks in Asia mostly rose by the close on Monday as investors await the signing of a phase-one trade deal between the U.S. and China.

Mainland China markets jumped by the close. The Shanghai composite rose 0.75% to close at 3,115.57, while the Shenzhen composite jumped 1.36% to 1,822.35. The Shenzhen component was up 1.47% to 11,040.20.

Hong Kong’s Hang Seng index also bounced and was up 1.11% in its final hour of trade. Tech stocks notched gains, with Sunny Optical rising 2.61% and Lenovo surging 3.20%. Gaming company Razer shot up almost 10% in the morning before paring gains to last rise 8.33%. It announced earlier this month that it had submitted an application for a digital banking license in Singapore.

In South Korea, the Kospi rose 1.04% to close at 2,229.26, with cosmetics stocks notching significant gains. Japan’s markets are closed for a holiday on Monday.

Australia’s S&P/ASX 200 bucked the trend, declining 0.37% to close at 6,903.70, with oil stocks seeing losses. Origin Energy declined 1.72%, Woodside Petroleum was down 1.20%, and Santos tumbled 0.56%. Oil Search was off by 1.89%.

But gold stocks in Australia rallied on Monday to erase last week’s losses after prices fell following declining U.S.-Iran escalation risks. Evolution Mining surged 2.79%, and Kingsgate Consolidated jumped 1.14%.

MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.69%, after hitting its highest since 2018 last week.

Taiwan’s benchmark Taiex index rose 0.74% to close at 12,113.42.

Taiwan President Tsai Ing-wen was reelected in a landslide victory over the weekend elections. She beat her main opponent Han Kuo-yu of the Kuomintang party — which favors close ties with China — by more than 2.6 million votes. That could fuel further tension with China, which has tried to get the island to accept its rule by way of threats and economic inducements.

Meanwhile, the Philippine Stock Exchange suspended trading on Monday after a volcano near Manila spewed huge amounts of ash and steam, forcing flight cancellations and shutdowns of schools and government offices, according to a Reuters report.


Company: cnbc, Activity: cnbc, Date: 2020-01-13  Authors: weizhen tan
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Asia markets rise as shares of Apple suppliers jump

Markets in Asia continued to be in positive territory on Friday following the easing of U.S.-Iran tensions, and after U.S. stocks shot to new highs overnight. On the earnings front, Japan’s Familymart, the country’s second-largest convenience store chain, is set to report third quarter results on Friday. Meanwhile, Australia’s retail sales data for November is set to be released on Friday. Apple suppliers in Asia were closely monitored after the tech giant’s shares jumped 2.1% to a record high.


Markets in Asia continued to be in positive territory on Friday following the easing of U.S.-Iran tensions, and after U.S. stocks shot to new highs overnight.
On the earnings front, Japan’s Familymart, the country’s second-largest convenience store chain, is set to report third quarter results on Friday.
Meanwhile, Australia’s retail sales data for November is set to be released on Friday.
Apple suppliers in Asia were closely monitored after the tech giant’s shares jumped 2.1% to a record high.

Asia markets rise as shares of Apple suppliers jump Cached Page below :
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Asia markets rise as shares of Apple suppliers jump

Markets in Asia continued to be in positive territory on Friday following the easing of U.S.-Iran tensions, and after U.S. stocks shot to new highs overnight.

In Japan, the Nikkei 225 rose 0.41%, while the Topix was up 0.39%.

On the earnings front, Japan’s Familymart, the country’s second-largest convenience store chain, is set to report third quarter results on Friday. A day before, retail giant Fast Retailing cut its full-year outlook after worse-than-expected quarterly results, which it pinned on protests in Hong Kong and a boycott by South Korean consumers which hit sales at its Uniqlo retail stores.

Over in South Korea, the Kospi climbed to nearly 0.47%.

Australia’s S&P/ASX 200 rose 0.69% in early trade. Gold miners, however, sold off. Losses were led by Evolution Mining, which fell as much as 5% in early trade. Newcrest Mining was down 1.47%, while Kingsgate Consolidated was off by 2.22%.

The rally in gold prices had pulled back following the declining risk of a wider war in the Middle East.

Meanwhile, Australia’s retail sales data for November is set to be released on Friday.

Apple suppliers in Asia were closely monitored after the tech giant’s shares jumped 2.1% to a record high. That was on the back of news that iPhone sales in China rose more than 18% in December, according to Chinese government data.

Suppliers in Japan and South Korea jumped in the morning. In Japan, Sharp surged nearly 2%, and Japan Display jumped 1.28%. Murata was up 0.95%. South Korea’s LG Display was up 0.32%. Samsung Electronics jumped 1.71%.


Company: cnbc, Activity: cnbc, Date: 2020-01-10  Authors: weizhen tan
Keywords: news, cnbc, companies, rise, jumped, trade, suppliers, sales, south, nearly, markets, results, rose, retail, asia, jump, shares, japan, set, apple


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It isn’t over — Iran’s promise of revenge could take months or years to play out, analysts say

The U.S. and Iran appear to have taken a step back from escalating hostilities triggered by the U.S. killing of top Iranian general Qasem Soleimani — but analysts warn “Iran is not finished with its retaliation.” They say Iran’s vow to retaliate could take years to play out. Tensions ratcheted up this week, following an airstrike ordered by President Donald Trump that killed Soleimani in Baghdad on Friday. Iran retaliated on Wednesday and blasted missiles at two Iraqi bases where U.S. soldiers w


The U.S. and Iran appear to have taken a step back from escalating hostilities triggered by the U.S. killing of top Iranian general Qasem Soleimani — but analysts warn “Iran is not finished with its retaliation.”
They say Iran’s vow to retaliate could take years to play out.
Tensions ratcheted up this week, following an airstrike ordered by President Donald Trump that killed Soleimani in Baghdad on Friday.
Iran retaliated on Wednesday and blasted missiles at two Iraqi bases where U.S. soldiers w
It isn’t over — Iran’s promise of revenge could take months or years to play out, analysts say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-09  Authors: weizhen tan
Keywords: news, cnbc, companies, months, say, analysts, killed, iran, end, revenge, white, trump, president, week, play, isnt, soleimani, promise, warn, irans


It isn't over — Iran's promise of revenge could take months or years to play out, analysts say

The U.S. and Iran appear to have taken a step back from escalating hostilities triggered by the U.S. killing of top Iranian general Qasem Soleimani — but analysts warn “Iran is not finished with its retaliation.”

They say Iran’s vow to retaliate could take years to play out.

Tensions ratcheted up this week, following an airstrike ordered by President Donald Trump that killed Soleimani in Baghdad on Friday. Iran retaliated on Wednesday and blasted missiles at two Iraqi bases where U.S. soldiers were housed — no Americans were killed in the attacks.

After the attacks, Trump said on Twitter: “All is well!” He later spoke from the grand foyer of the White House, and said Iran “appears to be standing down” and even suggested that the U.S. was open to negotiations with Tehran.

“Since there were no casualties, President Trump seems to be taking the opportunity to say this is the end of this round. That’s a hopeful sign, (but) it doesn’t mean this is the end of this conflict,” said Daniel Shapiro, who was the U.S. ambassador to Israel between 2011 and 2017.


Company: cnbc, Activity: cnbc, Date: 2020-01-09  Authors: weizhen tan
Keywords: news, cnbc, companies, months, say, analysts, killed, iran, end, revenge, white, trump, president, week, play, isnt, soleimani, promise, warn, irans


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Asia markets set to rise as investors keep their eyes on geopolitical tensions

Asian markets were poised to rise on Tuesday, after falling a day earlier, amid rising geopolitical tensions in the Middle East. Gold prices surged on Monday to a near seven-year high as investors fled riskier assets amid U.S.-Iran tensions that have shot up in the past week with the killing of Iran’s top commander. Oil prices, which also surged on the back of those geopolitical tensions, continued to rally on Monday, rising more than 2% but settling little changed. “Geopolitical tensions remain


Asian markets were poised to rise on Tuesday, after falling a day earlier, amid rising geopolitical tensions in the Middle East.
Gold prices surged on Monday to a near seven-year high as investors fled riskier assets amid U.S.-Iran tensions that have shot up in the past week with the killing of Iran’s top commander.
Oil prices, which also surged on the back of those geopolitical tensions, continued to rally on Monday, rising more than 2% but settling little changed.
“Geopolitical tensions remain
Asia markets set to rise as investors keep their eyes on geopolitical tensions Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-07  Authors: weizhen tan
Keywords: news, cnbc, companies, tensions, geopolitical, markets, investors, eyes, day, strickland, prices, remain, set, rising, asia, rise, surged, earlier, usiran


Asia markets set to rise as investors keep their eyes on geopolitical tensions

Australia’ s S&P/ASX 200 jumped 0.86% in early trade. Futures pointed to a higher open for Japanese shares as compared to the index’s last close. The Nikkei 225 had fallen 1.91% by the close on Monday.

Asian markets were poised to rise on Tuesday, after falling a day earlier, amid rising geopolitical tensions in the Middle East.

Gold prices surged on Monday to a near seven-year high as investors fled riskier assets amid U.S.-Iran tensions that have shot up in the past week with the killing of Iran’s top commander.

Gold futures for February delivery settled up 1% at $1,568.80 per ounce and hit a high of $1,590.90 per ounce. That’s the metal’s highest level since April 2, 2013, when it traded at $1,604.30. Gold was also headed for its ninth straight day of gains.

Oil prices, which also surged on the back of those geopolitical tensions, continued to rally on Monday, rising more than 2% but settling little changed. In the morning during Asia hours, U.S. crude dropped 0.52% to $62.98 per barrel, retreating from Monday’s prices.

“Geopolitical tensions remain centre stage with markets clearly in wait-and-see mode,” Tapas Strickland, director of economics and markets at National Australia Bank, wrote in a note on Tuesday.

“The potential for this to spiral into a cycle of retaliation remains and markets will likely remain cautious,” Strickland said, referring to U.S.-Iran tensions.

U.S. markets rose on Monday, recovering from losses earlier on Friday, with gains led by big tech stocks.

The Dow Jones Industrial Average ended the day up 68.50 points, or 0.2% at 28,703.38 after falling 216 points earlier in the day. The S&P 500 closed 0.4% higher at 3,246.28 while the Nasdaq Composite advanced 0.6% to 9,071.46.


Company: cnbc, Activity: cnbc, Date: 2020-01-07  Authors: weizhen tan
Keywords: news, cnbc, companies, tensions, geopolitical, markets, investors, eyes, day, strickland, prices, remain, set, rising, asia, rise, surged, earlier, usiran


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