Fitch expects house prices in Australia and China to fall in 2023 Fitch Ratings expects house prices in Australia to fall significantly by 7% to 10% next year, it said in its latest outlook report. The agency also predicts that house prices in China will fall by 1% to 3% next year. “We expect prices …
Asia-Pacific markets mixed as investors assess economic risks Read More »
China lifts negative test requirement for interregional travelers Inter-regional travelers in China will no longer need to show negative test results for Covid, according to a statement from the National Health Commission. Areas that are not designated as high-risk cannot stop work or production, the notice says. Covid patients without symptoms can also choose to …
China further eases Covid restrictions; Hong Kong travel stocks rise Read More »
China expects further drop in exports and imports China’s trade data for November is expected to show a further decline in both exports and imports, according to a Reuters poll of economists. Exports are expected to fall 3.5% in November on an annualized basis after falling 0.3% in October, and imports are expected to fall …
Asian markets trade mixed amid recession fears; China to release trade data Read More »
Reserve Bank of Australia says further hikes expected, but not on a fixed path Australia’s central bank said it planned to continue raising interest rates, but was “not on a predefined path”, according to Governor Philip Lowe’s statement. The council monitors factors such as the global economy and household spending in the country, Lowe said. …
Asia-Pacific markets mixed; Beijing relaxes some Covid measures Read More »
Indonesian GoTo has lost nearly 70% of its valuation since its IPO in April Indonesia’s GoTo Group – the merged entity of ride-hailing giant Gojek and e-commerce marketplace Tokopedia – has lost 68.5% of its original 400 trillion rupiah ($28 billion) value since going public in April . On Thursday, pre-IPO shareholders such as Alibaba …
Hong Kong shares jump 4% as China relaxes some virus rules Read More »
All major stock averages closed higher for the week thanks to a Friday afternoon rally that pushed the Dow back into positive territory. Several key economic reports drove the action, including the ADP November Nonfarm Payrolls and Employment Reports and the October Personal Spending Report. Most important, perhaps, was Federal Reserve Chairman Jerome Powell’s comment …
Expect more turmoil after a week of mixed market signals 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 »
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 »
Bitcoin Briefly Crosses $17,000 at Highest Levels Since Mid-November Bitcoin price briefly rose above $17,000 during the morning session in Asia for the first time since mid-November. Bitcoin was up 2.2% over the previous 24 hours, according to Coin Metrics and last traded at $16,863.07 per coin. Ether has also risen and is up 4.74% …
Chinese factory activity at lowest since April; Mixed Asian markets 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 at lowest since April; Asian markets are largely on the rise Read More »
