Bill Ackman Says Hong Kong Dollar Peg Will Break Billionaire hedge fund manager Bill Ackman has questioned the sustainability of the hong kong dollarpegs the greenback, adding that his company Pershing Square has a significant short position in the currency. “We have a large notional short position against the Hong Kong dollar thanks to the …
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 …
Asia-Pacific markets are trading lower; China keeps LPR stable Read More »
NetEase plunges after Blizzard announces suspension of gaming services in China Hong Kong listed shares of NetEase plunged 13% after Blizzard Entertainment, a subunit of ActivisionBlizzardsaid it would suspend gaming services in China, citing the expiration of licensing agreements with NetEase. “We are extremely grateful for the passion our Chinese community has shown throughout the …
Meituan, Tencent, APEC leaders meet, trade in Japan, unemployment in Australia Read More »
CNBC Pro: UBS says disinflation is on its way — and shares 8 global stocks to play it Swiss bank UBS has predicted “strong” disinflation in 2023. He said weak growth coupled with ‘mechanical’ indicators, such as easing supply chain bottlenecks and rising commodity inventories, would lead to lower prices next year. . The investment …
Hong Kong shares jump 2% in mixed Asian session, Softbank shares fall 11% Read More »
CNBC Pro: Bitcoin Will Fall Further, Fund Manager Says — Until That Catalyst Triggers Bitcoin is down 75% from its all-time high, and a cryptocurrency exchange is on the verge of bankruptcy. In such an environment, a bond fund manager reveals the only thing necessary for prices to rise. Michael Howell of Cross Border Capital …
Japan’s Nikkei 225 jumps more than 2% as Asian markets rise on US inflation report Read More »
Investors should remain wary of unverified ratings on China reopening: Credit Suisse Investors should “stay cautious” of unverified notes circulating on social media hinting at a possible reopening of China early next year, a Credit Suisse strategist has said. “I think, judging from different angles with a lot of news feeds – especially unverified ones, …
Stocks fall after Fed announces further hikes to come Read More »
Inflation in South Korea increases in October, more than estimates South Korea’s consumer price index rose 5.7% in October from the same period a year ago, above average estimates of 5.6% predicted by a Reuters poll. Data from Statistics Korea showed prices rose 0.3% from the previous month. Electricity prices, gas prices and industrial prices …
Asia-Pacific markets trade mixed ahead of Fed rate decision Read More »
First Trade: Where Asia-Pacific Markets Started the Day The Nikki 225 in Japan slid 0.24% in early trading and the Topix lost 0.33%. In Australia, the S&P/ASX 200 fell 0.68% in its second hour of trading. South Korea Kospi fell 0.23% and the Kosdaq lost 0.37%. MSCI’s broadest Asia-Pacific equity index was down 0.43%. —Abigail …
Asian markets slide as investors assess inflation data; 150 level yen Read More »
The Japanese yen approaches 150 against the US dollar the Japaneses yen slightly near 150 against the greenback, at levels not seen since August 1990. It was last at 149.94 to the dollar. The yen hovered around 159.8 levels in April 1990 and last broke through 160 levels in December 1986. Japanese officials spoke out …
Stocks fall, Chinese offshore yuan hits record high Read More »
Hong Kong Movers: Tech, EV, Macau Casino Stocks Fall; real estate stocks lose previous gains Shares of Hong Kong-listed tech companies and electric vehicle makers continued to trade lower amid Hong Kong leader John Lee’s policy speech, dragging the overall index lower alongside casino stocks from Macau. Xpeng Motors fell 8.24%, bilibili fell 4.2%, and …
