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

Fed hike, Bank of Japan, interest rates, currencies

Oil prices climb after Fed’s rate hikes, demand fears linger Oil prices climbed following the Fed’s third consecutive rate hike. Reuters also reported Chinese refiners are expecting the nation to release up to 15 million tonnes worth of oil products export quotas for the rest of the year, citing people with knowledge of the matter. … 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 stocks lead losses; Fed, BOJ meeting this week

China’s central bank cuts 14-day reverse repo rates The People’s Bank of China reduced the borrowing cost of 14-day reverse repurchase agreements, it announced on its website. The central bank also said it injected 2 billion yuan ($285 million) through the 7-day reverse repos and 10 billion yuan through the 14-day operations. The 7-day rate … 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

mixed stocks; RBA hikes interest rates

The Chinese yuan won’t weaken far beyond the 7 level, Capital Economics says China’s yuan is likely to break the 7 level against the greenback based on yield differentials in the two countries, according to Julian Evans-Pritchard, senior China economist at Capital Economics. But the currency won’t weaken far beyond that, he told CNBC’s “Squawk … Read more

Stocks trade mixed; dollar index crosses 110

Dollar index marks 110, hits highest level since 2002 The US dollar index hit 110,086 in Asia’s morning trade, reaching a new two-decade high. The Japanese yen weakened further to 140.3 after touching a 24-year low last week. The Korean won was at 1,370.87 against the greenback, a level not seen since April 2009. CanSino … Read more

Asia-Pacific markets trade mixed following a quiet Wall Street

Sri Lanka’s central bank governor sees country’s inflation peaking around 60% Inflation in Sri Lanka will peak of just above 60% in September, central bank governor Nandalal Weerasinghe told CNBC’s “Squawk Box Asia” — a shift from his previous forecast last month. The central bank held rates steady Thursday on cautious optimism on the defaulted … Read more

Japan could be about to surprise markets with monetary policy

Japan’s national flag flies atop the Bank of Japan building on November 12, 2019 in Tokyo, Japan. Tomohiro Ohsumi | Getty Images Japan’s central bank is nearing an inflection point. It comes as policymakers around the world scramble to tighten monetary policy in an effort to rein in record-high inflation. The Swiss National Bank was … Read more