Asian stocks bruised on Trump's fresh trade war threats
8/31/2018, 6:57:43 AMAsian shares came under renewed pressure on Friday as a report U.S. President Donald Trump was preparing to step up a trade war with Beijing sent Chinese stocks lower and partially erased gains made in this week's global rally. ✔ In addition, he said the European Union’s proposal to eliminate auto tariffs is not good enough and called its trade policies almost as bad as China ✔ Those remarks hosed down any positive sentiment following negotiations over the North American Free Trade Agreement (NAFTA) ✔ Our Standards:The Thomson Reuters Trust Principles
European markets seen lower amid renewed global trade war concerns
8/31/2018, 5:49:46 AMEuropean stocks are set to open lower Friday morning, amid heightened fears of an escalating global trade war between the world's two largest economies. ✔ In Asia, MSCI's broadest index of Asia-Pacific shares, excluding Japan, slipped 0.8 percent Thursday, partially erasing gains made earlier this week ✔ On the data front, the euro area is scheduled to publish a flash reading of year-on-year inflation data for August at around 10:00 a.m. London time
Predicting Trump: Chinese turn to fortune tellers to divine trade war
8/31/2018, 6:12:04 AMAs analysts crunch trade data and political commentators dissect official statements for signs of how the Sino-American trade war will develop, some ordinary Chinese are using different sources to predict U.S. President Donald Trump's next moves: fortune tellers. ✔ Chinese people, including the country’s leaders, have a long tradition of putting their faith in soothsaying and geomancy, looking for answers in times of doubt, need and chaos ✔ Members of the ruling Communist Party, however, are officially banned from participating in what the government dubs superstitious practices, including visiting soothsayers ✔ Our Standards:The Thomson Reuters Trust Principles
China says putting pressure on Beijing won't work amid trade war...
8/31/2018, 7:43:53 AMChina's foreign ministry on Friday said that putting pressure on Beijing over trade won't work, after a report that U.S. President Donald Trump is prepared to quickly ramp up a trade war between the two countries. ✔ bilateral meeting at the G20 leaders summit in Hamburg, Germany July 8, 2017 ✔ Bloomberg reported that Trump has told aides he is ready to impose tariffs on $200 billion more in Chinese imports as soon as a public comment period on the plan ends next week ✔ Our Standards:The Thomson Reuters Trust Principles
China funds maintain equity exposure amid caution over trade spat
8/31/2018, 5:18:03 AMChinese fund managers maintained their suggested equity exposure for the next three months, as caution prevailed amid worries over Sino-U.S. trade war. ✔ trade frictions and local governmental bonds defaults, a South China-based fund manager said ✔ U.S. President Donald Trump is prepared to quickly ramp up a trade war with China and has told aides he is ready to impose tariffs on $200 billion more in Chinese imports as soon as a public comment period on the plan ends next week, Bloomberg News reported on Thursday ✔ Our Standards:The Thomson Reuters Trust Principles
Oil dips as trade wars weigh, but looming Iran sanctions prevent...
8/31/2018, 7:16:09 AMOil prices dipped on Friday on concerns that the trade war between the United States and China could intensify, although looming U.S. sanctions against Iran's oil exports and falling Venezuelan output prevented bigger falls. ✔ The situation in Venezuela remains equally concerning, he added ✔ In a sign of a tightening market, the amount of unsold crude stored in the Atlantic basin has dwindled from around 30 cargoes to just a handful in recent weeks, trade data showed ✔ Our Standards:The Thomson Reuters Trust Principles
Trade tensions could spark a 'global economic crisis,' says former trade minister
8/31/2018, 7:23:24 AMGeorge Yeo, a former Singapore foreign and trade minister, said escalating trade tensions could spark a "global economic crisis" even as the China-U.S. tit-for-tat tariffs have boosted earnings at the company where he now serves as chairman. ✔ Qilai Shen | Bloomberg | Getty Images U.S. President Donald Trump, left, and Xi Jinping, China's president, shake hands during a news conference at the Great Hall of the People in Beijing, China, on Thursday, Nov. 9, 2017 ✔ Therefore, China has got to deal with him, in the end, directly, he added
Oil stable as Iran sanctions loom
8/31/2018, 5:52:38 AMTrade disputes could start to drag on economic growth and, by extension, fuel demand. ✔ You have to wonder if it (crude) can sustain these prices in a world where President Trump doubles down on his battle with the EU and China at the same time, said Greg McKenna, chief market strategist at futures brokerage AxiTrader ✔ ($1 = 6.8415 Chinese yuan renminbi) (Reporting by Henning Gloystein Editing by Joseph Radford)
Japan fund managers increase stock exposure in August: Reuters Poll
8/31/2018, 4:23:02 AMJapanese fund managers raised their overall exposure to stocks in August, particularly in Japanese equities which performed strongly, a Reuters poll showed. ✔ While the ongoing U.S.-China trade friction and weakness in the Turkish lira remain a drag for equities, the market could rise further on strong corporate earnings as the global economy is doing well, said Yuichi Kodama, chief economist at Meiji Yasuda Life Insurance ✔ Our Standards:The Thomson Reuters Trust Principles
Business Live: Friday 31 August
8/31/2018, 5:10:18 AMAll the day's business news and views from the UK and beyond, as it happens. ✔ Creditors including landlords will be voting on a turnaround plan, amid reports that some are planning to oppose the restructuring ✔ Will Canada sign up to the new version of Nafta that's on the table in Washington ✔ And Dominic Raab is preparing for six hours of Brexit talks in Brussels
'Urgency' for Asia Pacific mega trade deal as the US mulls $200 billion tariffs on China
8/31/2018, 4:02:38 AMThe Regional Comprehensive Economic Partnership, or RCEP, would account for about one-third of the global economy when it's completed. ✔ While the deal may not be signed in 2018, the end is in sight and negotiations could conclude this year, he added ✔ Eventually, if the world economy gets affected and it slows down, then definitely it impacts everyone ✔ WATCH: Roadblocks to watch for in RCEP talks Roadblocks to watch for in RCEP talks 9:38 PM ET Sun, 28 Jan 2018 | 01:38
Dereliction of duty
8/31/2018, 7:28:20 AMundefined ✔ Political watchers say the failure to narrow their differences was due in part to the governing party's reluctance to appear as helping chaebol, or family-controlled conglomerates ✔ Now is the time for both parties to show bipartisanship and focus on what is good for the nation
Yuan inches up, lows not tested after firmer-than-expected fixing
8/31/2018, 4:07:03 AMChina's yuan inched up against the U.S. dollar in early trade on Friday, as investors reduced long-dollar positions and refrained from testing lows in the Chinese currency following a stronger-than-expected official midpoint setting. ✔ It traded at 6.8516 as of 0302 GMT compared with previous close of 6.8688 ✔ Some traders said the Friday’s fixing was much stronger than their models had suggested, even after they took a counter-cyclical factor into consideration ✔ Our Standards:The Thomson Reuters Trust Principles
Dollar edges up on latest round of U.S.-China trade tensions
8/31/2018, 4:07:36 AMThe dollar edged up against its peers on Friday, finding support as the latest episode of U.S.-China trade tensions dulled investor risk appetite, with weakness in emerging market currencies also helping lift the greenback. ✔ It is a bit of stretch to attribute all the euro’s woes to turbulence in emerging market currencies like the Turkish lira and the Argentine peso, said Daisuke Karakama, chief market economist at Mizuho Bank ✔ Our Standards:The Thomson Reuters Trust Principles
Argentine peso and Turkish lira crash puts pressure on emerging currencies
8/31/2018, 4:17:23 AMEmerging markets were rattled again, with the Argentine peso, Turkish lira and Indonesian rupiah tumbling overnight. The negative sentiment is set to weigh on other currencies in Asia, analysts say. ✔ But the backdrop does reinforce the need for Bank Indonesia and the Philippine central bank to follow through with the additional rate hikes we are forecasting this year, ING's Robert Carnell, chief economist head of research for Asia Pacific, said in a note Friday morning
Japan stocks to rise in 2018 underpinned by corporate profits, U.S....
8/31/2018, 4:23:23 AMJapanese stocks are forecast to rise 5 percent over the rest of this year, with stronger corporate profits expected to underpin sentiment, but selling by foreign investors could cap the upside, a Reuters poll found. ✔ Exchange data this week showed foreign investors have sold a net 8.03 trillion yen in Japanese cash equities and futures since the beginning of the year ✔ Ibayashi expects the Nikkei to trade at 22,000 at end-2018 and 24,000 at mid-2019 ✔ Our Standards:The Thomson Reuters Trust Principles
AirAsia CEO: Tariffs and volatile currencies will lead to an 'inevitable' industry slowdown
8/31/2018, 5:59:26 AM"It's inevitable with trade sanctions and some of the things that are happening in the currency world in emerging markets," AirAsia Group CEO Tony Fernandez told CNBC. ✔ Prices have increased 37.5 percent on year, in tandem with higher crude oil prices, according to analysis by energy and commodities information provider Platts and brokerage Oanda ✔ However, Png said she is confident that AirAsia's earnings will improve from the fourth quarter of this year onward as capacity pressure eases
Why statism today?
8/31/2018, 6:45:19 AMundefined ✔ For instance, the government raised the minimum wage by a whopping 16.7 percent this year as part of efforts to keep Moon's campaign promise ✔ It also implemented a shorter 52-hour workweek July 1 ✔ Heo Mane (mane398@naver.com) is a professor emeritus and adviser of the Korea-EU Forum
Surprise China factory pick-up may not last as export orders shrink...
8/31/2018, 5:07:19 AMGrowth in China's manufacturing sector unexpectedly picked up in August after a two-month slide, offering some cushion for the slowing economy as the United States rapidly ratchets up tariffs on Chinese goods. ✔ REUTERS/Thomas Peter The respite may prove brief, however ✔ WORRISOME TRADE OUTLOOK For China’s manufacturers, the trade war is getting uglier by the day ✔ President Donald Trump has told aides he is ready to impose tariffs on $200 billion more in Chinese imports as soon as a public comment period on the plan ends next week, Bloomberg News reported on Thursday ✔ Our Standards:The Thomson Reuters Trust Principles
Westpac rate change lifts ASX to higher week
8/31/2018, 7:11:28 AMThe Australian sharemarket has broken free of a week of political turmoil, as the major banks lifted the benchmark index to a fresh highs this week. ✔ Credit Suisse downgraded Virgin Australia's target price from 25¢ to 20¢ ✔ What moved the market Pound vs Euro The British pound has traded largely in line with the euro this year as negotiations between the United Kingdom and European Union wears on ✔ Our new podcast series from the team behind Phoebe's Fall View episodes
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