Morgan Stanley overweight Chinese stocks Morgan Stanley strategists raised its recommendation for Chinese stocks to overweight, according to a Sunday note. The upgrade marks the end of the company’s equal weight position in Chinese stocks that it has held for nearly two years, strategists led by Laura Wang said. Morgan Stanley noted that several factors …
Hong Kong shares jump 3% as China relaxes some virus rules Read More »
OPEC+, a group of 23 oil-producing nations led by Saudi Arabia and Russia, will meet on Sunday to decide the next phase of production policy. Bloomberg | Bloomberg | Getty Images OPEC and non-OPEC oil producers could impose deeper oil production cuts on Sunday, energy analysts said, as the influential energy alliance weighs the impact …
OPEC+ mulls further oil production cuts ahead of Russia sanctions and proposed price cap Read More »
Singapore and New York are ranked among the most expensive cities to live: EIU Singapore and New York have been ranked as the most expensive cities to live in this year, according to the Economist Intelligence Unit (EIU). EIU’s survey showed that the average price of goods in 172 major cities around the world rose …
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’s loss of $275 million investment in collapsed crypto exchange FTX is “disappointing and has caused reputational damage” of the city-state. But the loss …
Asia-Pacific Markets Rise, Japanese Yen Strengthens as Fed Signals Lower Rises Read More »
Chinese factory activity beats expectations and contracts for second straight month China’s official manufacturing 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 and …
Chinese factory activity data falls short of expectations; Asia-Pacific markets mixed Read More »
China unlikely to make sudden changes to its Covid policy: National University of Singapore The Chinese government is unlikely to make any sudden changes to its zero Covid policy as it will lead to chaos, Professor Wang Gungwu of the National University of Singapore said on CNBC’s “Squawk Box Asia.” “If you change the policy …
Hong Kong shares jump 4% ahead of Chinese Covid briefing Read More »
Hong Kong-listed property stocks rise after China changes fundraising rule Shares linked to Hong Kong-listed property developers surged after the Chinese regulator announced it would lift a ban on raising equity funds for the sector. The China Securities Regulatory Commission announced five measures to support the real estate market, including removing a multi-year restriction on …
Indian stocks hit all-time highs Indian stocks hit new highs in Monday’s session. The Nifty 50 Index, the flagship index of the National Stock Exchange of India, reached 18,611.05, surpassing the previous intraday high of 18,604.45 seen on October 19, 2021. The Sensex reached 62,690.39 during the morning session in India, also surpassing previous record …
Hong Kong stocks lead losses in Asia on unrest in China, oil at 2022 low Read More »
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 …
Hong Kong stocks lead losses as China’s Covid cases surge; Mixed Asian markets Read More »
Oil prices fall as China faces Covid concerns, Goldman Sachs cuts forecast Oil prices fell nearly a dollar as China’s Covid concerns grew, with the country seeing the first virus-related deaths recorded since May this year. Brent futures lost less than a dollar, or 0.9%, to settle at $86.83 a barrel and United States West …
Hong Kong shares fall 2% on Covid fears; China keeps interest rates unchanged Read More »
