DXY US Dollar Currency Index

South Korea GDP, Caixin Manufacturing PMI, Japan Consumer Confidence

Japanese yen strengthens after Powell’s comment on small bulls Temasek’s $245m FTX loss ‘damaged reputation’ of Singapore, Deputy PM says Singapore’s Deputy Prime Minister Lawrence Wong says the state’s sovereign wealth fund investment loss of $275 million in collapsed crypto exchange FTX was “disappointing and caused reputational damage” to the city-state. But the loss of …

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China’s factory activity data misses expectations; Asia-Pacific markets mostly higher

Chinese factory activity beats expectations and contracts for second straight month Official China Manufacture Purchasing Managers Index for November came in at 48, below the 50 point mark that separates growth from contraction. That’s below analysts’ expectations polled by Reuters, who had forecast a reading of 49. October’s PMI was 49.2. PMI readings are sequential …

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

G-7 proposed price cap may have no effect on Russia, says Wood Mackenzie Group of Seven (G7) Nations proposed price cap for Russian oil between $65 and $70 a barrel may not be a significant deterrent to Moscow, according to Wood Mackenzie. The planned cap shouldn’t hurt Russia’s oil revenue, as the oil prices that …

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Fed minutes, Bank of Korea decision, Sri Lanka

Foxconn says new hires raised pay issues, ongoing communication adds Apple major supplier foxcon said new hires at its iPhone factory in Zhengzhou “have appealed to the company” regarding compensation, according to a statement on its website. The statement comes after the media reported a mass protest by hundreds of workers appears to have been …

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

JD.com shares fall after company slashes top executive pay Hong Kong listed shares of JD.com traded down more than 5% in the afternoon after the company confirmed pay cuts for its management team. The Chinese e-commerce giant has confirmed that it will cut the cash salaries of its management team by up to 20%, starting …

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Asia-Pacific markets trade lower; China keeps LPR steady

China keeps prime lending rates unchanged as expected China left its benchmark lending rate unchanged for a third consecutive month, according to an announcement from the People’s Bank of China. The one-year loan prime rate is stable at 3.65% and the five-year rate is also suspended at 4.3%, the notice said. —Abigail Ng South Korea …

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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 recession Central bank governor Felipe Medalla of Bangko Sentral ng Pilipinas (BSP) said the economy is expected to experience “low growth” of less than 5%, not a recession, next year. Speaking to CNBC Sri Jegarajah in an interview, he said the central bank …

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Hong Kong stocks jump 2% in mixed Asia session, Softbank shares drop 13%

Bitcoin drops below $16,000 to lowest since November 2020 as FTX saga continues CNBC Pro: UBS says disinflation is on its way — and shares 8 global stocks to play it Swiss bank UBS has predicted “strong” disinflation in 2023. He said weak growth coupled with ‘mechanical’ indicators, such as easing supply chain bottlenecks and …

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Hong Kong stocks up 7%; Asia markets mixed ahead of U.S. jobs report

The Hong Kong Stock Exchange in Hong Kong, China on Wednesday July 13, 2022. Paul Yeung | Bloomberg | Getty Images Hong Kong stocks briefly rose 7% on Friday, with cyclical tech and consumer stocks driving the surge amid rumors of China reopening and a report that US inspections of Chinese company audits were completed …

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British pound sinks 2% against the dollar after Bank of England recession warning

LONDON — The Pound sterling Thursday sank against the American dollars after the UK’s central bank said it expected a recession to last all of 2023 and the first half of 2024. The pound was trading at $1.1162 at 1.20pm London time, its lowest level since Oct. 21, after starting the session at $1.1418 and …

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