Stocks

BLOOMBERG  Hong Kong’s initiative to allow trading of some locally-listed stocks in yuan has seen a muted start, with an average of just 1% of volume in those counters using the Chinese currency. One outlier has been China Mobile Ltd, which has seen yuan trading account for almost 10% of shares exchanged since the ability to transact the stock using ...

BLOOMBERG Japanese stocks fell as some of the best-performing shares this year led losses amid expectations domestic pension funds will pare positions to rebalance their portfolios before the quarter ends. The Nikkei 225 Stock Average declined 1.5% to 32,781.54 as of market close in Tokyo, ending a string of weekly gains that began in early April. The Topix fell 1.4% ...

BLOOMBERG Investors fled into the safety of bonds and stocks fell, as a lurch towards higher interest rates together with weak euro-area activity data heightened anxiety that aggressive central bank policy will tip economies into recession. Global stocks headed for their biggest weekly decline in more than three months. European shares slipped, with a record 36% drop in Siemens Energy ...

BLOOMBERG Zambia’s currency and dollar bonds traded near multi-month highs, having chalked up double-digit gains so far this month on expectation that the nation was about to clinch a debt restructuring deal with official creditors, possibly as soon as Thursday. The kwacha has strengthened 11.4% this month, the biggest gain among about 150 currencies tracked by Bloomberg, rising to approach ...

BLOOMBERG Stocks slumped with US equity futures as policy tightening fears from the US to Norway to the UK hobbled the market’s bull run. All industry subsectors fell into the red in Europe, where the region’s main equity gauge fell 1%, extending declines to a fourth day. Contracts for the S&P 500 and Nasdaq 100 pointed lower following a selloff ...

BLOOMBERG China’s yuan tumbled past the closely watched 7.2-per-dollar level and analysts are bracing for more losses after Beijing showed little resistance to the decline. The offshore yuan fell as much as 0.3% to 7.2007 to the greenback, the weakest since November. A lack of aggressive stimulus from authorities is fuelling a wave of selling in Chinese assets, with a ...

BLOOMBERG Stocks struggled for direction as a hot inflation reading in the UK proved a cautionary tale for global central banks fighting inflation and markets wagering they’re close to the end of their tightening cycles. Futures contracts on the S&P 500 fluctuated in a narrow range after the gauge notched its first back-to-back losses in nearly four weeks. Economic bellwether ...

BLOOMBERG Stocks fell with US Treasuries as the second-quarter (Q2) rally met resistance from economic headwinds and signs that positioning is overbought.The chemical industry led declines in Europe after Lanxess AG slumped as much as 15% on a profit warning, dragging shares of peers including BASF SE lower. Drug maker Sanofi gained the most since March after a favourable arbitration ...

BLOOMBERG The jitters affecting the world’s second-biggest economy are starting to feed through into China’s gold market. A surge in purchases by Chinese residents, driven by pent-up demand after three years of pandemic restrictions and optimism that the economy would quickly rebound, is starting to slow — yet another sign that the recovery is losing momentum. China vies with India ...

BLOOMBERG Global stocks fell, striking a more cautious note after Wall Street’s powerful second-quarter rally lost steam at the end of last week. Chemical and construction firms paced declines in Europe, while banking stocks outperformed. Among the biggest individual movers, Sartorius AG slumped 15% after issuing a bigger-than-expected profit warning. In Asia, disappointed hopes for further stimulus pushed down Chinese ...