BLOOMBERG Chinese stocks listed in Hong Kong began the week with losses as persistent concerns about the health of the property sector offset optimism spurred by signs of stabilisation in some other parts of the economy. The Hang Seng China Enterprises Index slid 1.6% on Monday. On the mainland, the CSI 300 Index fell to its lowest level this year ...
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Stocks mixed as European Central Bank interest-rate decision nears
BLOOMBERG European stocks were little changed and the euro edged higher as traders braced for the European Central Bank’s (ECB) interest-rate decision. The Stoxx 600 was steady, while S&P 500 futures climbed after Wednesday’s US inflation report was in line with estimates, fanning hopes the Federal Reserve will pause rate hikes. The dollar weakened against its Group-of-10 peers and oil ...
Read More »Yuan is set to rebound, says ‘super bullish’ Citic Securities Co
BLOOMBERG The yuan is set to bounce as the government’s efforts to boost consumption bear fruit and the lure of higher-yielding assets abroad diminishes, according to the offshore wealth arm of Citic Securities Co. The currency is likely to gain 5% versus the dollar over the next year or two as economic data start to show measures to bolster demand ...
Read More »Technology stocks fall after Oracle results; Euro slides
BLOOMBERG Tech stocks were in retreat as Oracle Corp posted slowing cloud sales, while the euro and pound weakened on concern the Europe faces a growing threat of stagflation. Nasdaq 100 Index futures slipped 0.3%, signalling the index will pare September 11’s 1.2% rally. In Europe, packaging company Smurfit Kappa Group plunged 11% after it announced a deal to combine ...
Read More »Gold bugs in Japan reaping rewards as yen weakness persists
BLOOMBERG As weakness in the yen looks set to continue into next year, prospects for gold priced in the Japanese currency have rarely looked so good. Japanese investors with exposure to yen—denominated bullion have earned themselves healthy returns so far this year, with domestic prices for the precious metal now hovering around a record high of 10,000 yen per gram ...
Read More »Yuan drops to record low as China budges in fight with bears
BLOOMBERG The offshore yuan weakened toward its lowest on record against the dollar, as a cut to the daily reference rate for the managed currency stoked bets China is comfortable with a gradual depreciation. China’s currency declined as low as 7.3623 per dollar in overseas trading, beyond the psychologically important level of 7.35 and close to the weakest since the ...
Read More »Dollar slips from 6-month high as Fed comments revive speculation
BLOOMBERG The dollar pulled back from a six-month high as dovish comments from Federal Reserve officials revived speculation that the central bank may keep interest rates at current levels. The Bloomberg Dollar Spot Index retreated 0.1%. The moves came after Fed Bank of New York President John Williams said in a discussion on Thursday that US monetary policy is “in ...
Read More »Stocks weaken, dollar extends rally on Fed’s policy outlook
BLOOMBERG European stocks headed for their longest run of losses in more than five years after weak German economic data, while the dollar strengthened as investors increased bets for further Federal Reserve policy tightening. The Stoxx 600 gauge retreated for a seventh day as German industrial output declined again in July, further holding back Europe’s biggest economy. The Bloomberg dollar ...
Read More »UBS doubles stock research for Credit Suisse wealth clients
BLOOMBERG UBS Group AG will double the coverage of single stocks that Credit Suisse wealth clients can access as it moves to integrate the two firms’ research offerings. The transition will enable Credit Suisse wealth clients to receive research from UBS’s team, expanding coverage to over 3,000 stocks, according to a memo sent to customers. That also means those clients ...
Read More »European stocks decline on German data; euro jumps
BLOOMBERG European stocks fell amid weak German data and elevated oil prices that reignited concerns over inflation. The Stoxx 600 index retreated 0.6%, sliding for a sixth day after German factory orders plummeted in July, a sign that the woes of Europe’s biggest economy continued into the third quarter. The euro jumped as much as 0.2% against the dollar after ...
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