Category Archive

Lim Hui Jie

Key Points

• Asian markets assess business activity readings from across the region, including the Caixin purchasing managers index from China.
• Investors will also be assessing the impact of comments from Fed Chair Jerome Powell, who said that a rate cut in September is “on the table,” provided the inflation data continues to be encouraging.

Read More

Lim Hui Jie

Key Points

• Japan’s Nikkei 225 rose as the country’s central bank raised benchmark interest rates to around 0.25%.
• This marks the first time since December 2008 that Japan’s benchmark interest rate stands higher than 0.1%.

Read More

Lim Hui Jie

Key Points

• The Bank of Japan’s two-day monetary policy meeting kicks off Tuesday as traders for details on benchmark interest rates and the bond buying program.
• Other economic data out from Japan on Tuesday include its unemployment rate for July.

Read More

Lim Hui Jie

Key Points

• Tokyo’s headline inflation slowed slightly to 2.2% in July from 2.3% in May, while its core inflation rate — which strips out prices of fresh food — remained unchanged at 2.2%, in line with expectations.
• The U.S. personal core expenditure index reading for June, the Federal Reserve’s preferred inflation gauge, will be released late Friday.

Read More

Lim Hui Jie

Key Points

• China’s central bank cut the medium-term facility lending rate to 2.3% from 2.5%, in its latest move to stimulate the economy after lowering its loan prime rates on Monday.
• South Korea’s GDP grew 2.3% year on year, lower than the 2.5% expected by economists polled by Reuters. On a quarter on quarter basis, the country’s economy shrank 0.2%, compared to a 0.1% rise expected

Read More

Lim Hui Jie

KEY POINTS

• Australia saw its private sector activity expand at a slower pace in July, with the composite purchasing managers index at 50.2 compared to 50.7 in June, according to Juno Bank.
• The region will also look for any spillover to tech and EV stocks after U.S. tech giants Alphabet and Tesla reported their second quarter earnings, with Tesla falling short of estimates.

Read More

Lee Ying Shan@IN/YING-SHAN-LEE@LEEYINGSHAN

KEY POINTS

• India is slated to unveil its first budget under Prime Minister Narendra Modi’s third five-year term.
• Traders in Asia will also watch out for Singapore’s inflation data for June.

Read More

Lim Hui Jie

KEY POINTS

• U.S. President Joe Biden announced his withdrawal from the 2024 presidential race, endorsing Vice President Kamala Harris.=
• Traders return to the markets after machines running Microsoft’s Windows operating system crashed Friday due to a glitch in an update issued by cybersecurity company CrowdStrike. Shares of CrowdStrike plunged 11% on Friday.
• China’s loan prime rate will be releases later in the day, with the one- and five-year LPR expected to be unchanged, according to economists polled by Reuters.

Read More

Lim Hui Jie

KEY POINTS

• Investors assessed Japan’s inflation numbers for June for clues on the Bank of Japan’s potential moves at its monetary policy meeting on July 30 and 31.
• The country’s headline inflation was unchanged from May at 2.8%, while core inflation, which strips out prices of fresh food, accelerated to 2.6%, from 2.5% in May.

Read More

Charmaine Jacob@IN/CHARMAINEMARIAJACOB@CHARMAINEMJACOB

KEY POINTS

• The tech-heavy Nasdaq Composite fell 2.8% overnight, posting its worst day since December 2022.
• Japan’s trade balance reversed from 1.2 trillion yen deficit in May, or $7.7 billion, to a 224 billion yen surplus.

Read More