European markets open to close, stocks, data and earnings news

Stocks on the move: BP up 5%, Allfunds down 9% UK wealth tech company All Funds Group saw its shares fall 9% to the bottom of the Stoxx 600 in early trade. At the top of the index, bp shares added 5% to lead a broad advance for the oil and gas sector. – Eliot … Read more

Global investors are bullish again on China as Beijing switches to damage control

Hong Kong CNN Business — Market sentiment on Chinese stocks hit rock bottom just weeks ago after President Xi Jinping secured a historic third term in power and stacked his top team with loyalists in a clean sweep not seen since the Mao era. But in the past week, a series of unexpected steps by … Read more

The disastrous implications of lifting Zero-COVID in China

In the past week, the Chinese Communist Party (CCP) government has initiated a dangerous shift in policy away from the Zero-COVID elimination strategy which has been in place across China since the beginning of the pandemic. The clearest evidence for this change is last Friday’s issuance of 20 measures by the National Health Commission (NHC) … Read more

Hong Kong stocks jump after China trims quarantine period, up more than 7%

Reopening stocks jump after China’s eased Covid measures reported Chinese yuan at strongest levels in more than a month after China eases Covid measures The Chinese yuan marked its strongest levels in more than a month after China announced some easing of its Covid measures. The onshore Chinese yuan last traded at 7.0949 against the … Read more

Hong Kong stocks rise more than 2% as China trade data misses estimates

Rising interest rates and food inflation are headwinds for Indian economy The two risks that the Indian economy will face in 2023 are inflation and rising interest rates, the chairman of the State Bank of India Dinesh Kumar Khara told CNBC’s “Squawk Box Asia” on Monday. There is a risk that India and other economies … Read more

China chip stocks plunge, Hang Seng index down 2%

There’s ‘significant upside’ for India’s housing market, says real estate firm Prices of residential property in India have room to rise, according to Abhishek Lodha, CEO of Lodha Group, an India-headquartered multinational real estate company. “We do think that the Indian property market is at the start of a long term upside,” he said. Lodha … Read more

Asia stocks mixed after Wall Street slump; China PMI beats estimates

Reserve Bank of India hike rates by 50 basis points India’s central bank raised its benchmark interest rate by 50 basis points to 5.9%, in line with expectations of analysts polled by Reuters The fourth consecutive increase comes as consumer inflation in the country hit 7% in August and the currency’s weakened to record levels. … Read more

Japan CPI inflation, China loan prime rate, currencies

Tech, casino stocks in Hong Kong buoy broader index Australia’s central bank says the argument for slower rate hikes strengthening The Reserve Bank of Australia (RBA)’s board members “saw the case for a slower pace of increase in interest rates as becoming stronger,” according to minutes from its Sept. 6 meeting, where it raised its … Read more

Hong Kong’s Hang Seng rises 2%, leads Asia markets higher after Powell’s inflation comments

HSBC says China’s latest inflation readings allow PBOC to maintain accommodative monetary policy China’s latest inflation figures give the People’s Bank of China room to maintain its current monetary stance, HSBC said in a note. “The moderation in price pressures gives the PBOC room to stay accommodative,” greater China economist Erin Xin said. Xin added … Read more

Asia-Pacific markets trade lower; China’s trade data in August misses expectations

Japanese yen weakens further, inching closer to 145 The Japanese yen weakened further to 144.35, the weakest since mid-1998 – as the US dollar index strengthened, hitting a fresh 24-year peak against the Japanese currency. The offshore Chinese yuan also weakened to 6.99, inching closer to the 7 mark, following weaker-than-expected trade data. South Korea’s … Read more