WTI Crude (Dec'22)

BUSINESS

Asia-Pacific stocks mostly lower, Tokyo inflation at highest in 40 years; U.S. markets closed

Hong Kong movers: Casinos, technology stocks drop on rising China case numbers Hong Kong-listed stocks related to reopening and technology fell in Asia’s morning session following reports of a surge of Covid cases in China. Shares of casino operator MGM China fell more than 4%, Wynn Macau lost 2.5%, Sands China fell 3%, and SJM […]

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BUSINESS

Hong Kong stocks lead losses as China Covid cases rise; Asia markets mixed

JD.com shares drop after company cuts senior management pay Hong Kong-listed shares of JD.com traded more than 5% lower in the afternoon after the company confirmed pay cuts of its senior management team. The Chinese e-commerce giant confirmed that it will slash the cash salaries of its senior management team by up to 20%, effective […]

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BUSINESS

Japan sees core inflation at highest in 40 years as Asia-Pacific stocks rise

Philippines central bank expects economy to see “low growth” next year, not a recession Central bank governor Felipe Medalla of Bangko Sentral ng Pilipinas (BSP) said the economy is expected to see “low growth” of under 5%, not a recession, next year. Speaking to CNBC’s Sri Jegarajah in an interview, he said the central bank […]

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BUSINESS

Stocks drop after the Fed signals more hikes ahead

Investors should remain cautious about unverified notes on China reopening: Credit Suisse Investors need to “remain cautious” about unverified notes circulating on social media hinting at a potential China reopening early next year, a strategist at Credit Suisse said. “I think, judging from different angles with a lot of news flows — especially the unverified […]

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BUSINESS

Hong Kong stocks slip; Asia markets mixed ahead of Fed rate decision

Oil prices rise following industry report of fall in U.S. crude inventories Oil prices rose on Wednesday as persisting demand in spite of high interest rate hikes, industry reports showed a drop in U.S. crude inventories, Reuters reported citing American Petroleum Institute figures released on Tuesday. Brent crude futures gained $1.31, or 1.46%, to stand […]

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BUSINESS

Stocks higher ahead of RBA decision; Caixin PMI below 50

China’s factory activity shrank for a third consecutive month in October, private survey says The Caixin manufacturing Purchasing Managers’ Index for October showed that factory activity contracted for the third month in a row. The reading came in at 49.2, compared with expectations for a print of 49. In September, the manufacturing PMI was at […]

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BUSINESS

Earnings are off to a decent start. Next week is the big test for tech

Stocks rallied this week as earnings season ramped up and is so far off to a better-than-expected start. With 20% of the S & P 500 having reported financials so far, sales results have thus far been 1.4% above expectations while earnings results are 5.4% above expectations, in aggregate. While the estimates have come down […]

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