Asia Stocks Set for Mixed Open as US Rally Falters: Markets Wrap
Stocks in Asia slid following a sluggish US session, with investors seeking firm evidence of an earnings recovery before taking this month’s rally further. The dollar gained.
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Stocks in Asia slid following a sluggish US session, with investors seeking firm evidence of an earnings recovery before taking this month’s rally further. The dollar gained.
The US paused a shipment of bombs to Israel over worries about Israel nearing a decision to launch a wide-ranging military offensive on the southern Gaza city of Rafah, which President Joe Biden opposes, according to a senior administration official.
The World Bank faces a funding dilemma if Accra chooses to go ahead with the punitive law that tramples all over the lender’s anti-discrimination standards.
Spain may be about to become the first of the euro zone’s four biggest economies to name a woman to lead its central bank.
Elon Musk has made no secret of his interest in the far-right Alternative for Germany. After a series of self-inflicted set-backs, it’s less clear that the party can retain the enthusiasm of its voters.
UK Chancellor Jeremy Hunt would have an extra £10 billion a year for tax cuts if the Bank of England stopped selling the bonds it bought over more than a decade under quantitative easing, according to BOE disclosures.
Swedish home prices rose for a third month as buyers expect some relief from lower borrowing costs.
Ukraine’s capital of Kyiv as well as the western city of Lviv near the border with Poland were under missile attack early Wednesday, local authorities said on Telegram.
For Japan’s influential group of individual investors in the currency market, the latest suspected interventions to support the yen come as an ideal opportunity to load up on dollars.
The Philippines raised $2 billion from a two-part dollar bond sale on Tuesday, its first trip to the international market this year that may usher similar offerings from the Southeast Asian nation’s corporate borrowers.
JPMorgan Chase & Co. is limiting dealings with Simon Sadler’s Segantii Capital Management Ltd., the Asian hedge fund giant charged with insider trading by authorities in Hong Kong, according to people familiar with the matter.
Australia will spend A$566 million ($373 million) over the coming decade to map out resource deposits with a focus on reserves of critical minerals, which are vital for high-tech manufacturing and the green-energy transition.
Bank of Japan Governor Kazuo Ueda fired a clear warning shot to financial markets about a potential policy move as he beefed up his language on the weak yen a day after meeting with Prime Minister Fumio Kishida.
Oil fell to near the lowest level since mid-March, with a mildly bearish US stockpile report and tensions in the Middle East in focus.
Kim Ki Nam, a propaganda mastermind who helped forge the cult of personality for the family dynasty that has ruled North Korea since its founding in the Cold War, has died at the age of 94.
Zhejiang Hailiang Co., a major producer of copper tubes and rods, plans to build a plant in Morocco for $288 million that manufactures new energy materials, including lithium-battery foil, to tap rising demand around the world.
United Overseas Bank Ltd. first-quarter profit came in above estimates even as its outlook was overshadowed by stronger projections at larger rival DBS Group Holdings Ltd.
Singapore’s Keppel Infrastructure Trust is considering raising up to S$500 million ($370 million) through a placement and preferential offering, according to people with knowledge of the matter.
Typhoon activity in the Northwest Pacific region is expected to be about 20% below normal this year, forecaster Tropical Storm Risk said in its first outlook of the season.
Chinese President Xi Jinping arrived in Serbia on the second leg of his European tour as he sought to tighten Beijing’s embrace of the Balkan nation in contrast with a more difficult relationship with most of Europe.
Plunging prices for solar panels, which have slashed profits across the sector, don’t have much room to fall further, according to the chairmen of two of the industry’s biggest firms.
A glitch in the UK’s electronic gate system that caused long lines and chaotic scenes at some of the nation’s busiest airports on Tuesday evening has been fixed, the Home Office said.
April was the Earth’s 11th consecutive month of record-breaking heat, with warmer weather already sweeping across Asia and a hotter-than-usual summer expected in Europe.
For Nazim Salur, it’s the end of a nearly decade-long dream to build a global delivery powerhouse out of Turkey.
Qantas Airways Ltd. Chief Executive Officer Vanessa Hudson said premium-class bookings are at record levels as air travel brushes off a global cost-of-living crisis.
PCCW Ltd., the telecommunications group controlled by Hong Kong tycoon Richard Li, is in advanced talks to sell a significant minority stake in its fiber business to China Merchants Group Ltd., according to people familiar with the matter.
Australia’s biggest banks plan to return more than A$5 billion ($3.3 billion) to shareholders just as fierce rivalry in the mortgage market shows few signs of easing.
The momentum behind one of the world’s biggest stock rallies in China will likely abate, according to Morgan Stanley.
Tesla Inc. is sending executive Tom Zhu back to China, where he led the carmaker’s entry into the country, the Wall Street Journal reported.
Colombian President Gustavo Petro said the nation’s institutions suffer from “structural corruption” as he tried to distance himself from a recent bribery scandal involving allies.
The potential big foreign inflows into Indian bonds will help the rupee recover from near a record low, but the nation’s central bank is likely to limit the extent of gains, according to Fitch Ratings.
The bounceback in Chinese stocks from their multi-year lows risks running out of steam unless the nation’s tech giants can deliver on their earnings next week.
Shares of Nintendo Co. tumbled their most in over a month after the company warned of a sharp profit fall and signaled a next-generation Switch wouldn’t arrive till 2025.
As China’s industrial capacity emerged as a key trade issue, a surge in Chinese bank loans to the sector has often been cited as evidence that Beijing is engaging in a renewed manufacturing push that could flood global markets with cheap goods.
KKR & Co. will buy the wealth management and corporate trust units of Australian fund manager Perpetual Ltd. for A$2.175 billion ($1.43 billion), ending a months-long sale process.
Bond traders in Taiwan aren’t an enthused lot these days amid uncertainty over the outlook for interest rates.
Donald Trump’s intimate moments with an adult film star spilled out into open court on Tuesday as Stormy Daniels described her alleged affair with the former president in a highly-anticipated moment of his hush-money trial.
As the Chinese bond market undergoes a powerful rally, the nation’s so-called policy banks are turning away from the People’s Bank of China as a source of funding and rushing to raise debt instead.
The US has revoked licenses allowing Huawei Technologies Co. to buy semiconductors from Qualcomm Inc. and Intel Corp., according to people familiar with the matter, further tightening export restrictions against the Chinese telecom equipment maker.
UBS Group AG has made a slew of leadership appointments for its debt capital markets business in Australia and New Zealand as it expands that business around the world.
Coupang Inc., facing mounting competition in e-commerce, declined in late trading after first-quarter earnings came in shy of analysts’ estimates.
The head of Saudi Arabia’s new investment fund for semiconductor and artificial intelligence technology said the country would divest from China if it were asked to do so by the US.
Olam Agri Holdings Ltd. has yet again trumped Louis Dreyfus Co.’s bid for Namoi Cotton Ltd., as the two major agricultural traders vie for the Australian cotton producer.
BRF SA, one of the world’s largest chicken suppliers, posted first-quarter profits that beat estimates as it benefits from lower costs and higher selling prices in Brazil and overseas.
Singapore’s regulator has asked DBS Group Holdings Ltd. to figure out the root cause of recent disruptions to its internet banking and payment services and deal with it effectively, the Straits Times reported, citing a Monetary Authority of Singapore spokesperson.
Cryptocurrency exchange FTX has amassed billions of dollars more than it needs to cover what customers lost in its November 2022 collapse, setting them up to receive full recoveries under the company’s bankruptcy.
Former Treasury Secretary Steven Mnuchin said a strong dollar is an advantage in helping the US to finance large fiscal deficits for now, but called on the winner of November’s presidential election to lead a new initiative to rein in the federal debt burden.
Copper briefly traded through $10,000 a ton as investors raised bets on Federal Reserve rate cuts, and Goldman Sachs Group Inc. warned of intensifying supply stress.
The share of global electricity from renewables rose to a record 30% last year as the growth of wind and solar power continue to far exceed that of fossil fuels.
The UK stepped up efforts to break Russia’s monopoly over a uranium-fuel market that’s expected to play a key role in a powering a new generation of small, factory-built reactors.
Surging rents across many developed economies are proving to be a stubborn hurdle for central banks as they struggle to nail down inflation once and for all this tightening cycle.
Elon Musk has famously said that lidar is a fool’s errand.
China is flooding the US with used cooking oil that the biofuel industry says may be tainted, hurting American farmers and President Joe Biden’s push to promote climate-friendly energy.
Reddit Inc. shares jumped more than 10% in extended trading after improvements to the social media platform’s advertising system helped push quarterly sales higher than expected in its first results as a public company.
Two of the world’s biggest property investors are split on the current state of the US commercial real estate cycle.
Suzano SA, the world’s largest pulp producer, approached International Paper Co. about a potential all-cash offer valuing the US company at almost $15 billion, Reuters reported.
Federal Deposit Insurance Corp. staff have for years suffered through a toxic culture that fails to keep many of them safe from sexual harassment or discrimination, according to a review of the bank regulator’s workplace.
Steven Mnuchin, the former US Treasury Secretary, said he’s still interested in buying TikTok’s US operation from its Chinese owner, and believes the social media app’s critical video recommendation technology could be replicated.
Mexico’s government will continue to provide financial support to its debt-ridden oil company while it refinances its debt, said the top official in charge of Mexico’s public finances.
The feature would let ChatGPT users search the web and cite sources in its results.
Donald Trump’s criminal trial for allegedly mishandling classified documents has been postponed indefinitely in a blow to the Justice Department’s efforts to obtain a jury verdict before November’s presidential election.
The Massachusetts Institute of Technology said suspensions are in process for dozens of student protesters while the University of Chicago shut down a pro-Palestinian encampment amid persistent tensions on US campuses.
Emerging-market assets eked out gains Tuesday, adding to an early May winning streak that has come in spite of a relentless advance by the US dollar.
Italian confectioner Ferrero Group is expanding with the opening of its first chocolate processing facility in North America, just as prices for cocoa have been soaring.
The US Justice Department must decide by August 5 whether it will seek to block a tie-up between Alaska Air Group Inc. and Hawaiian Holdings Inc., the airlines said in securities filings on Tuesday.
Founder Bill Hwang will see top trader, chief risk officer take stand against him
AQR Capital Management LLC is making its mark in the buzzy world of multistrategy investing, notching a 13.5% gain this year through April in its $1.2 billion Apex offering.
A developer of advanced nuclear systems backed by Sam Altman won investor approval to go public via a blank-check deal, sounding a rare positive note for the moribund SPAC market.
Match Group Inc. said the number of paying users on Tinder, its largest dating app, fell for the sixth straight quarter. Shares slid 5%.
Romania will consider sending one of its Patriot air defense systems to neighboring Ukraine to help the war-torn country fend off Russian aerial attacks, President Klaus Iohannis said on Tuesday.
Rate traders are hanging back from making big bets with the Federal Reserve’s policy path for this year very much up for debate.
Pfizer Inc. paused a study of an experimental gene therapy for muscular dystrophy after a child who received it died suddenly.
A former Nuveen trader asked a federal judge not to impose a harsh sentence on him for front-running the firm’s trades as part of a scheme that generated more than $47 million in illegal profits.
China-based ByteDance Ltd. made clear it won’t comply with a new US law requiring it to sell its popular TikTok video-sharing app, setting up what likely will be a prolonged court battle pitting free-speech rights against national-security interests that could end up at the Supreme Court.
Virgin Galactic Holdings Inc.’s revenue missed Wall Street expectations in the first quarter as the space tourism company prepares for its second and final launch of the year.
Rivian Automotive Inc. fell short of Wall Street’s earnings expectations to start the year as the automaker works to revamp its manufacturing operations and boost output of electric vehicles.
Groups of private equity investors may soon be allowed to buy as much as 30% of National Football League franchises.
Lyft Inc. reported first-quarter results and financial guidance that beat investors’ expectations, a sign of the company’s ability to retain and attract new riders in the US and Canada.
Prominent business leaders, including Darcy Penick of Bergdorf Goodman Inc., former Yahoo CEO Marissa Mayer, venture capitalist Vinod Khosla and Atlanta Falcons owner Arthur Blank, are among those hosting political fundraisers for President Joe Biden as the campaign taps Democratic-donor rich Silicon Valley and Chicago for cash.
Nextdoor Holdings Inc., the neighborhood social networking company, is adding former Yahoo Chief Executive Officer Marissa Mayer to its board as part of a leadership overhaul that started in February when the company announced it was replacing its CEO.
Venezuela is allowing a small startup to import fuels even as the country struggles to feed its owns refineries and the recent reimposition of US sanctions presses on its industry.
Rents in most major US metropolitan areas have risen some 1.5 times faster than wages in the last four years, according to an analysis by Zillow Group Inc.
Fresenius SE raised its forecast based on strong demand for intravenous drugs and confirmed plans to exit Vamed, its smallest business unit.
Qualcomm Inc. slipped in New York trading Tuesday after the Financial Times reported that the US is revoking export licenses to sell chips to Huawei Technologies Co., a move that also will affect Intel Corp.
Novo Nordisk A/S is asking for more time to answer questions from US Senator Bernie Sanders on the prices of Ozempic and Wegovy, the company’s blockbuster drugs for diabetes and weight loss.
Petrobras’ shift away from oil-field divestment is motivating a pivot by Brazil’s junior drillers to corporate acquisitions as the most-viable expansion strategy.
India’s high commissioner to Canada says diplomatic talks are underway to find solutions to “issues of concern” to both countries, in his first public remarks since three Indian nationals were charged with the murder of a Sikh activist.
Score a victory for Mayberry. America’s small towns, like the iconic setting of television’s The Andy Griffith Show from the 1960s, saw more in-migration in 2023 than larger areas for the first time in decades.
Venezuela is targeting a group of investigative journalists as part of a wide-ranging corruption probe into billions of dollars of missing oil revenue.
US consumer borrowing rose in March by the smallest amount this year as Americans relied less on credit cards.
Bolt Technology OU, the Estonian rival to Uber Technologies Inc., is recruiting managers to help it launch scooter operations in several major US cities.
The oil industry’s top trade group filed a petition in federal court challenging Biden administration mandates cracking down on planet-warming methane emissions from wells, tanks and pipelines, even as it pushes the government to make administrative changes.
Currency markets have started pricing in elevated foreign exchange volatility around the US vote on Nov. 5, even with election day almost six months away.
Media mogul Byron Allen, who has mounted an effort to buy film and TV giant Paramount Global, said regulatory approval will be the key hurdle in the auction of that storied Hollywood company.
Places like New York City and San Francisco still have fewer workers now than they did before the pandemic, which continues to impact their labor market recovery, according to an analysis by the Federal Reserve Bank of New York out Tuesday found.
Balyasny Asset Management is setting up a unit to trade physical natural gas and power in Denmark in a bid to generate more profit from its growing commodities business, people familiar with the matter said.
The US soldier detained on criminal charges in eastern Russia — adding to the tally of Americans held in the country during a low point in relations with Washington — flew there “for personal reasons” and without official authorization, the Army said Tuesday.
Joe Craft of Alliance Resource Partners LP and his wife, former Ambassador Kelly Craft, will host a fundraiser for Donald Trump this month as the presumptive Republican nominee seeks to build his campaign war chest even as legal fees and criminal trials hinder its operations.
CVS Health Corp. is selling $5 billion worth of bonds less than a week after shares plunged the most since 2009 on a downbeat quarterly report and cut 2024 outlook, joining a bevy of firms hitting the debt market following earnings season.
Eric Schmidt, the former chief executive officer of Google, said he had explored a possible purchase of TikTok but has moved on from the idea of trying to acquire the popular video-sharing app from its Chinese owners.