Tuesday, October 3, 2023
HomeTop NewsAsia stock market today: Live updates

Asia stock market today: Live updates

Mon, Sep 4 2023 12:10 AM EDT

Journey is driving the elevated oil demand in China, says S&P World

China’s financial restoration is vital for international oil markets as post-pandemic tendencies drive demand, S&P World mentioned.

“It hasn’t been manufacturing … it has been jet, it has been gasoline. And why? When the Covid restrictions have been lifted, individuals wished to maneuver once more,” Carlos Pascual, senior vice chairman for international vitality and worldwide affairs at S&P World Commodity Insights instructed CNBC’s “Squawk Field Asia.”

He mentioned China’s industrial manufacturing has not been the “essential issue” in driving the oil market lately and the rise in demand could taper off in 2024.

Quek Jie Ann

Solar, Sep 3 2023 10:16 PM EDT

Hong Kong property shares surge as Nation Backyard extends bond deadline

Hong Kong’s actual property shares surged, main positive aspects on the Dangle Seng on Monday.

This comes after embattled developer Nation Backyard Holdings reportedly gained approval to increase funds for an onshore personal bond over the weekend and a few of China’s banks lower mortgage charges on Friday.

Nation Backyard shares jumped 7.87%, whereas shares of Evergrande rose 7.27%. Different gainers additionally included Longfor Group, which spiked 9.44%, and China Sources Land, which gained 9.8%.

At 10 a.m. Hong Kong time, the Dangle Seng Mainland Properties Index was 7.32% up in comparison with its final shut, marking its largest someday acquire since July 25.

Solar, Sep 3 2023 8:50 PM EDT

Arm targets $47 to $51 per share in IPO: Reuters

Semiconductor and software program design firm Arm will reportedly search an inventory worth from $47 to $51 per share, Reuters reported, citing individuals acquainted with the matter.

This could translate to a valuation between $50 billion and $54 billion.

Arm is about to start advertising and marketing its preliminary public providing subsequent week.

Sources instructed Reuters that “SoftBank might probably elevate this vary earlier than the IPO costs, ought to investor demand show sturdy.” Japanese funding holding firm SoftBank is the father or mother firm of Arm.

— Reuters, Lim Hui Jie

Solar, Sep 3 2023 8:46 PM EDT

New Zealand commerce expands in second quarter

New Zealand’s commerce expanded within the quarter ended June, with whole commerce coming in at 51.8 billion New Zealand {dollars}, 4.9% increased in contrast with June 2022.

Authorities knowledge confirmed that the exports of products and providers for the quarter totaled NZ$25.3 billion, up from NZ$23.1 billion a 12 months in the past.

In the meantime, imports of products and providers for the quarter totaled NZ$26.6 billion, up from NZ$26.3 billion final 12 months.

— Lim Hui Jie

Solar, Sep 3 2023 8:09 PM EDT

CNBC Professional: A China fund from Constancy is thrashing the gang. The way it plans to maintain doing it

A Constancy fund that invests billions of {dollars} right into a China-related technique is on monitor to outperform its friends this 12 months for a second straight 12 months, in accordance with Morningstar.

“It is very trendy or favorable to be underweight on China. However we expect there’s approach an excessive amount of detrimental information priced in and sentiment is simply too bearish,” mentioned Catherine Yeung, a Hong Kong-based funding director centered on equities at Constancy Worldwide.

She instructed CNBC that generally, it is taken totally different elements of the world about 15 months to totally get better from Covid lockdowns.

“China solely reopened in January,” she mentioned.

CNBC Professional subscribers can learn extra right here.

Fri, Sep 1 2023 8:36 AM EDT

Unemployment ticks as much as 3.8% in August, common hourly wages rise lower than anticipated

The unemployment charge jumped to three.8% in August, whereas wages rose lower than anticipated, the U.S. Division of Labor mentioned Friday, indicators of a slowing financial system and easing pricing pressures.

The jobless charge was anticipated to be 3.5%, in accordance with economists polled by Dow Jones, equal with what it was within the prior month. Common hourly earnings rose 0.24% for the month, or 4.29% year-over-year. That was lower than the 4.4% improve anticipated by economists.

Nonfarm payrolls grew by a seasonally adjusted 187,000 for the month, above the 170,000 anticipated by economists polled by Dow Jones. Nonetheless, job numbers first reported for June and July have been revised down by a mixed 110,000.

— Samantha Subin

Fri, Sep 1 2023 9:18 AM EDT

Merchants more and more wager the Federal Reserve is finished climbing charges

Merchants are rising extra assured the Federal Reserve may very well be achieved climbing charges this 12 months after the August’s unemployment charge steered a cooling labor market.

Markets are pricing in a 93% probability Friday morning the Fed will maintain charges in September, in accordance with the CME FedWatch Device. That is up from an 88% probability on Thursday.

In the meantime, possibilities the central financial institution is not going to elevate charges in November additionally jumped to 65%. That is up from 58.9% the day prior to this.

— Sarah Min

Fri, Sep 1 2023 1:04 PM EDT

Extremely anticipated Arm IPO might arrive later this month

The extremely anticipated IPO of Softbank-backed Arm might arrive this month, marking a serious take a look at for the market sentiment, in accordance with Wall Avenue agency Roth MKM.

“We consider ARM might launch its IPO roadshow as early as subsequent week with a possible first day of buying and selling earlier than September twentieth,” Roth MKM mentioned in a be aware.

The Cambridge, England-headquartered tech large touts superior chip designs that may be present in almost all of the world’s smartphones. Arm advantages from secular tailwinds with AI demand in addition to non-smartphone semiconductor penetration, Roth MKM mentioned.

Its debut shall be an enormous sign as as to if the IPO market is able to rebound after a drought as a consequence of increased rates of interest.

— Yun Li

Fri, Sep 1 2023 2:08 PM EDT

Explosive rally in VinFast fades swiftly

Vietnamese EV maker VinFast didn’t cement meme inventory standing as its eye-popping rally light rapidly. After a head-scratching six-day profitable streak, VinFast has misplaced 60% this week, chopping its positive aspects since its market debut to about 170%.

The retail participation in VinFast continues to be a lot decrease than different standard Asian carmakers throughout their peak reputation, in accordance with Vanda Analysis.




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