Stocks

  Bloomberg Nomura Holdings Inc strategists have joined their peers at Morgan Stanley in calling a bottom for battered Asian equities, including chipmakers. The Japanese broker said the asset class may bottom “in the next few weeks” after reviewing indicators on the last 12 US recessions and five chip cycles. Morgan Stanley strategists including Jonathan Garner made a similar call ...

  Bloomberg Global investors slashed allocations to UK equities in the month after Liz Truss became prime minister, a Bank of America Corp. (BofA) survey showed. Exposure to British stocks “collapsed,” with allocations dropping by nine percentage points compared with the previous month, according to BofA’s global fund manager survey in October. A net 33% of investors are now underweight UK ...

Bloomberg The yen took a further step towards the closely watched 150 per dollar level, keeping investors on high alert for possible intervention to support the currency. In volatile trade, Japan’s currency falls to as low as 149.29 yen in morning trading in London, its lowest since 1990, before bouncing back quickly. The move came after the country’s prime minister ...

Bloomberg The pound rallied and UK bonds surged as more of Prime Minister Liz Truss’s package of unfunded tax cuts were reversed. Stocks rise, with investors preparing for a number of key earnings reports this week. Chancellor Jeremy Hunt said the UK will raise £32 billion ($36.15 billion) with new measures, scrapping plans to cut income tax and dropping a ...

  Bloomberg Chinese regulators are ramping up efforts to support the stock market, which saw little reprieve from President Xi Jinping’s speech amid continued pressure from geopolitical tensions and the Covid Zero policy. A series of market-supporting measures are in the pipeline, including proposals to encourage companies to buy back shares and to ease curbs on short-term transactions by overseas ...

  Bloomberg UK bonds surged to head for their biggest weekly rally in a decade on mounting expectations the government is preparing an imminent retreat from plans for vast unfunded tax cuts. The rally came at the end of another tumultuous week for markets, with both bonds and the pound yo-yoing on changing sentiment. UK Prime Minister Liz Truss is ...

Bloomberg A shift towards private markets is cushioning many of the world’s largest investors from the wreckage wrought by runaway inflation and spiralling interest rates. The big question now looming over giants from China’s $1.2 trillion sovereign wealth fund to California’s public pension, the largest in the US, is how long those private bets will remain insulated as the economic ...

Bloomberg Taiwan Semiconductor Manufacturing Co (TSMC) slashed its 2022 capital spending target by roughly 10%, a dramatic sign of trouble for the technology industry from the world’s most valuable chip company. TSMC said it expects to spend about $36 billion in 2022 on capital equipment, down from at least $40 billion previously. The sharp reduction in expenditure — an important ...

  Bloomberg US equity index futures rise on Thursday, ahead of key US inflation data that could determine how much further the Federal Reserve’s policy-tightening cycle will run. Futures contracts on the S&P 500 were up 0.5% as of 5:55 am in New York, while those on the Nasdaq 100 gained 0.3%. The benchmark index had tumbled to its lowest ...

  Bloomberg UK bonds tumbled while the pound rose as investors digested a deeply uncertain policy outlook from both the Bank of England (BOE) and Liz Truss’s government. The yield on 30-year gilts — favoured by the pension funds at the heart of recent market stress — rose as much as 22 basis points to 5.02% after a BOE spokesperson ...