Asian markets mirror Wall Avenue’s rally; Inflation in Australia eases in July

7 minutes in the past

Nation Backyard points HK$270 million in new shares to repay loans

Chinese language actual property firm Nation Backyard Holdings introduced a plan to subject about HK$270 million (US$34.4 million) in new shares to repay a part of its loans.

The corporate stated the brand new shares shall be issued at 77 Hong Kong cents every, a reduction of 15.38% from Tuesday’s closing value of 91 cents.

The subscriber to those shares is funding holding firm Ever Credit score, which is 100% owned by laminate producer Kingboard Holdings. Following the transaction, Kingboard will maintain a 1.25% curiosity in Nation Backyard by way of Ever Credit score.

The corporate entered right into a HK$1.88 billion time period mortgage facility with Ever Credit score in December 2021 and this cost will scale back the excellent mortgage to the entity to just about HK$1.6 billion.

Nation Backyard stated the share providing goals to preserve money, scale back leverage and strengthen its monetary place.

— Lim Hui Jie

3 hours in the past

Nio shares plunge 8.3% after the electrical automobile maker posts a bigger internet loss

Hong Kong-listed shares of Nio plunged 8.30% on Wednesday, a day after posting a internet lack of 6.06 billion yuan ($831.65 million) within the second quarter.

The loss was bigger than the web lack of 2.76 billion yuan in the identical interval final yr.

The Chinese language electrical automobile maker delivered 23,520 autos within the second quarter because it bought the final of its predecessor fashions at important reductions. Nonetheless, with 20,462 autos delivered in July, the up to date product vary is already reaching higher outcomes.

Nio might “greater than double” shipments within the third quarter, John Zeng, director of China forecasts at Globaldata, instructed CNBC. “Quarterly shipments will greater than double within the third quarter and that can assist them enhance their total gross sales.”

Nonetheless, value cuts would “put stress on their profitability within the coming quarters,” Zeng stated.

— Sheila Chiang, John Rosevear

4 hours in the past

Inflation in Australia eases to 4.9% in July, down from 5.4% in June

Australia’s shopper value index rose 4.9% yoy in July, a slower charge than June’s 5.4% and the third consecutive month that inflation has slowed.

Excluding costs for unstable gadgets comparable to gasoline, recent groceries and trip journey, the inflation charge was 5.8%, under June’s revised studying of 6.1%.

Based on the Australian Bureau of Statistics, value will increase in housing and meals and non-alcoholic drinks have been the primary contributors to the annual improve in July.

— Lim Hui Jie

5 hours earlier than

Chinese language banks set to chop current mortgage charges quickly: Portal

Some Chinese language state banks will quickly minimize rates of interest on current mortgages, Portal reported, citing three sources acquainted with the matter.

If the cuts come, it might be the primary time for the reason that international monetary disaster.

The sources instructed Portal that the scale of the cuts would differ by buyer and placement, however may very well be as a lot as 20 foundation factors in some instances.

— Lim Hui Jie

6 hours in the past

CNBC Professional: Morgan Stanley’s Slimmon says the S&P 500 shall be shut to five,000 by year-end — and names three shares to purchase

Morgan Stanley Funding Administration’s Andrew Slimmon stated he believes markets are primed for a “sturdy rally” by the tip of the yr.

The corporate’s chief government and senior portfolio supervisor instructed CNBC’s Avenue Indicators Asia on Tuesday that he believes the S&P 500 shall be “nearer” to five,000 by then. If it hits 5,000, will probably be up almost 13% from Monday’s shut of 4,433.

He named three shares to purchase.

CNBC Professional subscribers can learn extra right here.

– Wheat Tan

6 hours in the past

A part of China’s shopper market is enduring a broad decline

Authors David and Susan Schwartz discovered that at Costco in China this summer season, common day by day foot visitors was about 7,000 folks – twice that within the US – for shops about the identical measurement.

“What you’re going to see is that the premium market is unquestionably going to proceed to do effectively,” stated Chris Reitermann, CEO, Ogilvy Asia Pacific and Larger China.

Nonetheless, he stated firms are usually holding again on advertising and marketing spending on account of uncertainty about total future progress.

Learn the entire story right here.

— Evelyn Cheng

6 hours in the past

CNBC Professional: ‘Ache buying and selling’: UBS CIO warns of bear lure as Chinese language shares rise

The latest rise in Chinese language shares might shock buyers, based on a UBS chief funding supervisor, who warned of a “painful commerce”.

Adrian Zuercher, chief funding officer at UBS in Asia-Pacific, stated it might create a “bear lure” – when merchants open quick positions as a result of they suppose markets will fall however are pressured to shut these positions , when the markets rise.

Professional subscribers can learn extra right here.

– Lucy Handley

15 hours in the past

The greenback will attain its highest degree in opposition to the yen in 2023

The US greenback is up 0.5% in opposition to the Japanese yen to 147.24, the yr’s highest. This marks the greenback’s highest degree in opposition to the yen since November 7, 2022, when it traded as excessive as 147.56 in opposition to the yen.

The Nikkei is down -2.85% in August, heading in the right direction for its worst month of the yr since December 2022, when the Nikkei shed -6.7%.

The Japan ETF (EWJ) is down almost -4.6% month-to-date, degree with the primary adverse month in six months. The drop was led by Sysmex, Yamaha, Olympus and others, that are down nearly 20% or extra this month.

— Hakyung Kim, Gina Francolla

13 hours in the past

The S&P 500, Nasdaq and Dow are all buying and selling above the 50-day shifting averages

All three main indices are buying and selling above their respective 50-day shifting averages on Tuesday.

The S&P 500 is above its 50-day shifting common for the primary time in nearly two weeks. If this tempo is maintained, the S&P 500 might shut above its 50-day shifting common for the primary time since Aug. 14.

In the meantime, the Nasdaq Composite and Dow Jones Industrial Common are each buying and selling above their 50-day shifting averages for the primary time since Aug. 24.

— Brian Evans, Nick Wells

22 hours in the past

US Treasury yields fall as buyers anticipate key financial knowledge

US Treasury yields fell on Tuesday as buyers braced for the discharge of a slew of vital financial knowledge this week that can make clear the newest developments round inflation and jobs, and affect the Federal Reserve’s subsequent financial coverage transfer might.

As of 4:30 am ET, the yield on the 10-year Treasury was down greater than two foundation factors to 4.1922%. The 2-year authorities bond yield was final seen at 4.9979% after falling greater than a foundation level.

Yields and costs transfer in reverse instructions and one foundation level equals 0.01%.


US1M US 1 Month Treasury Notes 5.432% +0.05 0.00%
US3M 3-month US authorities bonds 5.509% +0.021 0.00%
US6M 6-month US authorities bonds 5.574% +0.024 0.00%
US1Y US Treasury bonds with a 1-year maturity 5.421% +0.024 0.00%
US2Y US authorities bonds with a 2-year maturity 4.927% +0.037 0.00%
US10Y 10-year US authorities bonds 4.151% +0.029 0.00%
US30Y 30-year US authorities bonds 4.252% +0.015 0.00%

14 hours in the past

Apple is sending out invites to the launch occasion on September twelfth

Apple simply despatched out invites to its September press occasion, which is predicted to announce the iPhone 15 and new Apple Watches.

The brand new iPhone fashions, possible underneath the iPhone 15 model, are anticipated to function a USB-C charging port. Based on studies, among the new units Apple is launching may very well be made from titanium.

Apple’s shares rose almost 2% on the day.

— Yun Li, Kif Leswing