Singapore

US: Wall St gains with tech; S&P 500 posts best week since November

The Business Times | Mar 16, 2019 at 12:00 AM
  • US stocks rose on Friday, led by technology companies, as a report on progress in US-China trade talks lifted sentiment, pushing the S&P 500 to its best week since November.
  • The Dow Jones Industrial Average rose 138.93 points, or 0.54 per cent, to 25,848.87, the S&P 500 gained 14 points, or 0.50 per cent, to 2,822.48 and the Nasdaq Composite added 57.62 points, or 0.76 per cent, to 7,688.53.
  • Photoshop maker Adobe Inc, which also reported results late Thursday, fell 4 per cent after its current-quarter revenue forecast missed analysts’ estimates.

Singapore

Europe: Stocks close at five-month high amid trade and Brexit optimism

The Business Times | Mar 16, 2019 at 12:00 AM
  • European shares closed at their highest level in five months on Friday as investors cheered positive signs on US-China trade talks and UK lawmakers’ vote to request a delay in a potentially chaotic exit from the European Union (EU).
  • The pan-European STOXX 600 was up 0.7 per cent, its biggest gain in a month, and ended the day at its highest level since Oct 4.
  • The mood was boosted by growing expectations that Britain will not leave the European Union on March 29 without a deal to minimise economic disruption following Thursday night’s parliamentary votes.

Greece

Japan exports seen falling at slower pace in February, core CPI steady – Reuters poll

Hellenic Shipping News | Mar 16, 2019 at 12:00 AM
  • Japan’s exports in February likely fell at a much slower pace than the previous month, but weak global demand and U.S.-China trade frictions continue to cloud the outlook, a Reuters poll showed on Friday.
  • Exports are expected to have slipped 0.9 percent in February from a year earlier, the poll of 17 economists found, after slumping 8.4 percent in January, the biggest decline in more than two years.
  • Imports, however, likely declined at a sharper pace of 5.8 percent in February after falling 0.6 percent in January.

Japan

China’s moves on foreign investment help shore up markets

Asahi Shimbun | Mar 16, 2019 at 12:00 AM
  • Hopes that the U.S. and China will resolve their trade dispute as Beijing tweaked rules on foreign investment has helped shore up global stock markets on Friday.
  • The Shanghai Composite index jumped 1.0 percent to 3,021.75 and Hong Kong’s Hang Seng added 0.6 percent to 29,012.26.
  • Earlier in Asia, Japan’s Nikkei 225 index jumped 0.8 percent to 21,450.85 as the Bank of Japan ended a policy meeting by keeping its key interest rate at minus 0.1 percent, maintaining its stance of extreme monetary easing and lavish stimulus.

Greece

Japan exports seen falling at slower pace in February, core CPI steady – Reuters poll

Hellenic Shipping News | Mar 16, 2019 at 12:00 AM
  • Japan’s exports in February likely fell at a much slower pace than the previous month, but weak global demand and U.S.-China trade frictions continue to cloud the outlook, a Reuters poll showed on Friday.
  • Exports are expected to have slipped 0.9 percent in February from a year earlier, the poll of 17 economists found, after slumping 8.4 percent in January, the biggest decline in more than two years.
  • Imports, however, likely declined at a sharper pace of 5.8 percent in February after falling 0.6 percent in January.

China

U.S. stocks close higher amid data, earnings

Xinhua News Agency | Mar 15, 2019 at 10:58 PM
  • U.S. stocks closed higher on Friday as investors digested the country’s key economic data as well as the latest corporate earnings reports.
  • The headline general business conditions index fell five points to 3.7, missing analysts’ estimates.
  • The shipments index declined three points to 7.7, a level indicating that shipments grew modestly, though representing the lowest reading in more than two years.

China

U.S. Empire State Manufacturing Index slips in March

Xinhua News Agency | Mar 15, 2019 at 10:40 PM
  • The headline general business
conditions index fell five points to 3.7 in March.
  • The shipments index declined 3 points to 7.7, a level indicating that shipments grew modestly, though representing the lowest reading in more than two years.
  • The index for future business conditions edged down 3 points to 29.6.

China

U.S. investment managing firm expects MSCI to further expand weighting of China A-shares

Xinhua News Agency | Mar 15, 2019 at 10:09 PM
  • A U.S.-based investment managing firm specializing in Asia, has expected a further expansion of China A-shares’ weighting in MSCI following an announced increase by the global index provider at the end of February.
  • The current weight of China A-shares in the MSCI Emerging Market Index is around 0.7 percent.
  • The current Chinese exposure within the MSCI Emerging Markets Index and other indices is heavily weighted to mega-cap internet companies and large Chinese banks.

China

In Depth: It’s Banks’ Turn for the Hot Seat of Supply-Side Reform

Caixin Global | Mar 15, 2019 at 9:47 PM
  • Three years after China started a supercharged regulatory storm to dismantle a labyrinthine web of shadow banking activities and lower the country’s debt ratio, the winds are abating as policymakers shift their focus to supporting the economy.
  • As one of the main tasks of the reform, Pan listed the building of a “multi-level capital market” to broaden companies’ access to equity financing.
  • The CBIRC intends to gradually reduce and even cut off credit supply to industries suffering from excess capacity and to “zombie” companies, thereby unlocking more funds to support the growth of innovative and strategic sectors and small businesses.