China’s Dec new home prices fall at fastest pace since Feb 2015
China’s December new home prices fell at the fastest pace since February 2015, marking the sixth straight month of declines, official data showed on Wednesday, with the sector still struggling to get back on its feet due to weak confidence. New home prices fell 0.4% month-on-month after dipping 0.3% in November, according to…
Dollar advances as traders weigh rate cut expectations, eyes on data
The dollar was firm on Tuesday as investors assessed the chances of early and steep interest rate cuts from the Federal Reserve, ahead of a data-packed week that could influence major central banks’ thinking on monetary policy. The yen weakened slightly to 145.89 per dollar after data showed Japan’s wholesale inflation was flat…
Asian stocks mixed; China lags on rate-cut disappointment, Nikkei rallies
Most Asian stocks were a mixed bag on Monday, with Chinese shares under pressure after the People’s Bank unexpectedly kept lending rates on hold, while outperformance in Japanese markets continued. Sentiment towards regional markets remained wary in anticipation of more key economic cues this week, including Chinese gross domestic product data and and…
China CPI picks up slightly in Dec, but disinflation remains in play
Chinese consumer inflation increased slightly in December as the year-end holidays boosted spending, although a sustained decline in producer inflation showed that a disinflationary trend was still decidedly in play. Consumer price index (CPI) inflation grew 0.1% month-on-month in December, data from the National Bureau of Statistics showed on Friday. The reading was…
Stocks climb as megacaps lead; inflation data, earnings on deck
U.S. stocks closed higher on Wednesday as megacaps rallied, but gains were limited ahead of inflation reports and major bank earnings later in the week. Microsoft (NASDAQ:MSFT), Meta Platforms (NASDAQ:META) and Nvidia (NASDAQ:NVDA) were the biggest boosts to the S&P 500 index, as the benchmark 10-year Treasury note yield held near 4%and a…
Japan’s Nikkei 225 surges to 34-year high as BOJ pivot bets fade
Japan’s Nikkei 225 stock index rose sharply on Wednesday, reaching levels seen before the burst of a speculative bubble in the 1990s as investors bet on a delay in the Bank of Japan’s plans to end its ultra-loose policies. The Nikkei 225 index jumped 1.3% and crossed the 34,000 level for the first…
Oil prices steady after wiping out new year gains on Saudi price cuts
Oil prices steadied in Asian trade on Tuesday after falling sharply at the beginning of the week, as sharp price cuts on oil sales by Saudi Arabia ramped up concerns over sluggish demand. The world’s largest oil exporter slashed the prices of its exports to Asia and parts of Europe, with prices of…
Asian stocks muted as markets await US payrolls for more rate-cut cues
Most Asian stocks moved little on Friday as they steadied after a weak start to the new year, although anticipation of key U.S. payrolls data and persistent concerns over China kept investors on edge. Most regional markets were set to close lower for the week, after tracking losses in Wall Street over the…
Traders may end up disappointed with today’s FOMC minutes – strategists
Wall Street strategists express caution, noting that despite market optimism, immediate rate cuts are not likely. The optimism hinges on the idea of a US “soft landing” leading to a “new growth era,” drawing parallels with the 1994-1995 period, Macquarie strategists said in a note today. However, Macquarie is wary of overstating this…
Oil prices steady after weak start to 2024; rate cuts, Red Sea in focus
Oil prices steadied in Asian trade on Wednesday after logging steep losses in the prior session as the dollar rebounded on some doubts over early interest rate cuts by the Federal Reserve, while focus remained on the conflict in the Red Sea. Crude prices marked a dismal start to the new year, sinking…
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