German consumers shake off US trade war fears
undefined ✔ A measure of expectations about the Germany economy climbed 6.5 points in the month to 22.2, after having followed a downward path for much of the year ✔ Other confidence measures were less robust, however ✔ Consumers’ attitudes to spending edged down by a point but held close to previous highs, propped up by the strength of the national job market
The trade war won't cause any 'major' hit to China's economy, Morgan Stanley says
The Chinese government will continue implementing measures in order to cushion its economy from the impact of the ongoing trade spat with the U.S., a leading China economist said Wednesday. ✔ That will spur Beijing to take up more meaningful easing measures such as tax cuts and boosts to credit and liquidity in China's financial system ✔ Morgan Stanley expects China's GDP growth to slow to 6.4 percent in the first half of next year from the official 6.8 percent figure for the first half of this year, Xing said
Europe will be the big loser in US trade war with China, economist warns
The chief economist for the Edmond de Rothschild asset management firm has claimed that Europe is set to be a big loser in the trade war between the United States and China. ✔ No crisis for Italy Switching focus, the chief economist added that she foresaw no looming crisis for debt-laden Italy ✔ The economist added that a lack of structural reform for countries such as Italy and France was continuing to fuel weakness across the euro zone
Conclusion to RCEP talks 'finally in sight,' Singapore PM says
Members seek harmony in two-day gathering amid escalating US-China trade war ✔ The members are negotiating in 18 areas, of which four have been agreed so far: Economic and technical cooperation, small and medium-size enterprises, customs procedures and trade facilitation, and government procurement ✔ The participants are expected to give a progress report after this week's talks are concluded
Dollar little changed as investors await trade news
The dollar inched higher on Wednesday after dipping to a four-week low overnight, but relief over a U.S-Mexico trade deal was dimmed by concerns that the China-U.S. trade war will drag on for some time. ✔ MUFG’s Uchida said the dollar’s recent slide has been softened by gains on U.S. stock markets even as investors unwind more of their safe-haven bets on the greenback ✔ China’s offshore yuan was nearly flat at 6.8091 yuan per dollar, trading in a tight range for the third session in a row after the central bank announced fresh steps on Friday to stabilise the currency.[CNY/] Our Standards:The Thomson Reuters Trust Principles
Trump claims China hacked Clinton emails
undefined ✔ Mr Trump is currently waging a trade war against China and has in recent weeks railed against the investigation by Robert Mueller, the special counsel tasked with investigating possible links between the president’s campaign and Russia ✔ The late-night tweets come after a series of high-profile setbacks for the president
Pernod Ricard quenches Asia’s thirst as global sales rise
undefined ✔ The situation in China is quite different now, it’s about private consumption more than gifting, said Helene de Tissot, chief financial officer ✔ It’s much healthier as it’s much more diversified across brands and there is an emerging middle class that is bringing new consumers every year ✔ Ms de Tissot that the group is closely monitoring the threat of a global trade war
Hong Kong shares set course for third day of gains
CCB, BOC slip after 1H results miss some forecasts while ABC climbs on earnings ✔ HONG KONG (Nikkei Markets) -- Hong Kong shares eked out marginal gains after a choppy morning session on Wednesday amid lingering optimism over the revival of a trade deal between the U.S. and Mexico ✔ The U.S. reaching a deal with Mexico gives a glimmer of hope on Sino-American talks, he said, but we're more uncertain on those talks
Asia shares subdued, dollar befuddled by trade doubts
Asian shares crept marginally higher on Wednesday as optimism over the U.S.-Mexico trade deal was quickly clouded by caution ahead of a looming deadline on tariffs with China. ✔ President Trump warned that he could proceed with Mexico alone and levy tariffs on Canada if it does not come on board with the revised trade terms ✔ It was going nowhere on the yen at 111.20 JPY=, having spent the past three sessions in a 110.93/111.49 range ✔ [O/R] Our Standards:The Thomson Reuters Trust Principles
Seoul bourse unlikely to rebound in 2nd half
undefined ✔ I believe Seoul stocks have reached their lowest level ✔ According to the Korea Exchange, retail investors have sold their shares for days ✔ However, investor confidence among retail investors has cooled off too much ✔ Without recovering their confidence, it won't ride above the trading range
Yuan eases on dollar demand, snapping a 3-day winning streak
China's yuan weakened against the U.S. dollar on Wednesday, snapping a three-day winning streak, pulled lower by rising corporate demand for cheaper greenbacks. ✔ The note added that a slew of market stabilising measures rolled by the central bank were consistent with managing CNY in a broader range ✔ It maintained its forecast for the yuan to trade at 6.95 per dollar at the end of 2018 ✔ Our Standards:The Thomson Reuters Trust Principles
Analysis | Trump’s quixotic quest for a trade-deal victory
Despite the president's frequent talk of trade deals, he has yet to finalize any big changes. ✔ Canadian Foreign Minister Chrystia Freeland arrived in Washington on Tuesday for talks, but few expect her to readily agree to a new deal, given the poor state of U.S.-Canada relations and Ottawa’s support for NAFTA ✔ But the second part of his equation that this would lead to better deals has yet to materialize
Trump's bet on Kim Jong Un is looking increasingly shaky
President Donald Trump took a huge risk by holding a summit with North Korean leader Kim Jong Un and hailing it as a stunning history-changing success. ✔ After all, while those concessions from North Korea are welcome, it's obvious that the fundamentals of the threat -- Pyongyang's arsenal of atomic weapons and missiles -- have not fundamentally changed ✔ Therefore, it will be crucial for Kim, seeking to play on Trump's need for breakthroughs, not to push the President too far or to give him the impression that he is being taken advantage of
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