Trump's trade war could hit asset prices, RBA warns
10/12/2018, 6:16:05 AMThe escalating global trade war is posing a growing risk to Australia's financial health, the Reserve Bank has warned. ✔ A reassessment of the global growth outlook and risk more generally could also trigger a broad fall in asset prices, it said ✔ To date, the financial implications for banks have been small, but the consequences of reputational damage could impair banks’ profitability and resilience, it said
'Winter is coming': Indonesia warns of new crisis from trade war
10/12/2018, 7:05:32 AMIndonesian President Joko Widodo urged global central bankers and finance minist... ✔ Potentially further inflaming tensions, China reported on Friday an unexpected acceleration in export growth in September and a record trade surplus with the United States ✔ China’s trade surplus with the United States was $34.13 billion in September, breezing past August’s $31.05 billion ✔ Our Standards:The Thomson Reuters Trust Principles
Trade war could cut China's growth by nearly 2 percentage points over two years: IMF
10/12/2018, 5:36:18 AMMuch of the trade impact on China's growth is expected to be offset by the government's policies to stimulate the economy, noted Changyong Rhee, director of the Asia and Pacific Department at the International Monetary Fund. ✔ Getty Images Chinese flag At its worst, the ongoing trade tensions could knock 1.6 percentage points off China's economic growth over the first two years, according to an analysis by the International Monetary Fund ✔ The tit-for-tat tariffs between the world's two largest economies has hit investor confidence
Semiconductors -- Beijing versus the West
10/12/2018, 5:07:16 AMChina's push runs into trouble amid trade war and US companies' tech theft fears ✔ Business insiders should pay close attention, as the committee's findings will likely result in an expanded list of controls ✔ One major consideration: the vast new sums of money being spent by Beijing -- which will tilt the playing field ✔ Alex Capri is a senior fellow in the Business School at the National University of Singapore
'Winter is coming': Indonesia's president sounds warning for global...
10/12/2018, 4:27:16 AMIndonesian President Joko Widodo urged global central bankers and finance minist... ✔ The tariffs stem from the Trump administration’s demands that China make sweeping changes to its intellectual property practices, rein in high-technology industrial subsidies, open its markets to more foreign competition and take steps to cut a $375 billion U.S. goods trade surplus
China vehicle sales fall for third straight month as slowdown bites
10/12/2018, 6:43:23 AMChina's automobile sales fell 11.6 percent in September from a year earlier... ✔ Luxury German car maker BMW (BMWG.DE) said on Thursday it would take control of its main China venture in a $4.2 billion deal ✔ WINNERS AND LOSERS CAAM has previously forecast that the market will grow 3 percent this year, in line with growth last year but significantly below the 13.7 percent gain in 2016 ✔ Our Standards:The Thomson Reuters Trust Principles
Shares in Knorr-Bremse hold their own on Frankfurt debut
10/12/2018, 7:52:23 AMKnorr-Bremse held its debut at the Frankfurt stock exchange on Friday. ✔ Thomas Lohnes | Getty Images Traders sit at their desk at the Frankfurt Stock Exchange ✔ Knorr-Bremse's debut comes after European shares hit their lowest in more than 21 months and Wall Street extended its slide into a sixth session on Thursday as investors fear an escalating U.S.-China trade war and an economic downturn
Nikkei down, Asia shares bounce after rout, but sentiment fragile
10/12/2018, 5:10:49 AMSINGAPORE--Asian shares found a slightly firmer footing on Friday to set course for their first gain ✔ SINGAPORE--Asian shares found a slightly firmer footing on Friday to set course for their first gains in two weeks, but the rout continued in Shanghai where shares hit lows last seen in 2014 ✔ So far this week, Chinese and U.S. shares are among the worst performers in a sign investor worries about the trade war are deepening
Sri Lankan currency fears are overblown, finance minister argues
10/12/2018, 4:24:43 AMSamaraweera says depreciation promotes goal of an export-led economy ✔ © Reuters While currency depreciation may be a blessing in disguise for Sri Lanka, Samaraweera, who chairs the G-24 -- a group of developing nations from Africa, Asia, and Latin America and the Caribbean -- said volatility stirred up by the trade war poses a risk to the emerging world
U.S. curbs China nuclear exports as Trump warns Americans not 'stupid'
10/12/2018, 4:23:18 AMThe United States said Thursday that it will increasingly restrict civilian nuclear exports to China as President Donald Trump vowed a hard line on trade, bluntly warning China not to think Americans are "stupid." The U.S. Energy Department said it would make it more difficult to ship nuclear technology to… ✔ Relations between the world's two largest economies have soured sharply, however, with Trump earlier Thursday vowing to inflict economic pain on China if it does not blink in a trade war ✔ The IMF also lowered estimates for the United States and the global economy as a whole ✔ We have helped rebuild China more than any other factor
China September aluminum, steel exports hold steady as trade row...
10/12/2018, 4:14:27 AMChina's aluminum exports fell slightly in September from the previous month... ✔ BEIJING (Reuters) - China’s aluminum exports fell slightly in September from the previous month as a narrowing price arbitrage to international markets reduced the incentive to ship metal overseas, while steel shipments edged higher ✔ However, a lower yuan has helped Chinese metal exports ✔ China’s steel product exports came in at 5.95 million tonnes in September, customs said ✔ Our Standards:The Thomson Reuters Trust Principles
China September copper imports jump on scrap crackdown, open...
10/12/2018, 4:50:08 AMChina's unwrought copper imports surged to their highest in 2-1/2 years in ... ✔ The main reason is because of the reduced scrap imports because of the waste import restrictions in China ✔ China this year tightened thresholds on impurities in scrap metal imports and slapped a 25 percent tariff on scrap material from the United States, one of its top suppliers, in August ✔ Our Standards:The Thomson Reuters Trust Principles
Asian shares recover after global sell-off
10/12/2018, 6:39:56 AMNikkei index and Shanghai stocks post gains after mixed early trading ✔ Tokyo opened lower, as rising global interest rates and the U.S.-China trade war continue to darken the world's economic outlook ✔ The index had marked a new low for the year the previous day, prompting a correction ✔ Stocks rebounded later in volatile afternoon trading to close down 545, or 2.1%, at 25,053
Asia shares bounce after rout, Shanghai crawls higher from...
10/12/2018, 6:51:59 AMAsian shares staged a rebound on Friday to set course for their first gains in t... ✔ The data showed solid expansion in China’s overall imports and exports, suggesting little damage from the tit-for-tat tariffs with the United States ✔ CBOE Volatility index .VIX rose on Thursday to its highest close since Feb 12, pointing to investors concern of further losses in markets ✔ Our Standards:The Thomson Reuters Trust Principles
Investors to scan US bank results for clues on state of markets
10/12/2018, 4:10:34 AMundefined ✔ In the third quarter, banks suffered from a flattening yield curve, where the price of long-term and short-term debt converges, squeezing banks’ profits because they make money by borrowing cheaply at shorter term rates and lending for longer durations at higher rates
China's trade surplus with U.S. widens to record $34.13 bil
10/12/2018, 6:42:43 AMChina reported on Friday an unexpected acceleration in export growth in September and a record trade surplus with the United States, which could exacerbate an already-heated dispute between Beijing and Washington. The politically-sensitive surplus was $34.13 billion in September, surpassing the record of $31.05 billion in August. September exports rose… ✔ Over the first nine months of the year, China's surplus with its largest export market totalled $225.79 billion, compared with about $196.01 billion in the same period last year ✔ China will cut import tariffs on a wide range of goods beginning on Nov 1, as part of Beijing's pledge to take steps to increase imports this year amid rising tension
Stock market sell-off could signal turning point for bull market, as Dow plunges again
10/12/2018, 5:14:09 AMThe stock market sell-off has shifted the mood on Wall Street from greed to fear. Some market pros say it reflects a turning point for the bull. ✔ The combination of the Federal Reserve hiking short-term rates last month and another increase expected in December, coupled with a spike in the 10-year U.S. government bond to a seven-year high has made stocks less attractive compared with lower-risk bonds
Chinese firms are spending less on overseas deals, but they've become more strategic
10/12/2018, 7:23:18 AMChinese companies are getting more sophisticated and strategic when it comes to pursuing overseas acquisitions, according to a report by management consultant Bain and Company. ✔ Lintao Zhang | Pool | Getty Images Chinese President Xi Jinping attends Roundtable Summit Phase One Sessions of Belt and Road forum on May 15, 2017 ✔ Critics in countries including Sri Lanka and Malaysia have questioned the fairness of financing and costs for deals involving the Belt and Road
American Legislators Introduce Energy Bill for Europe (You Read That Right)
10/12/2018, 7:49:13 AMOn October 10th, Chris Murphy and Ron Johnson, two US senators announced the introduction of the European Energy Security and Diversification Act. According to the two senators, it is a bill provides new tools for the US to combat “malign Russian influence” in the energy sector in Europe. It also aims at creating economic opportunities for the US, internally and internationally. ✔ The new piece of legislation allows the US Trade and Development Agency, as well as other agencies, to support US private sector investment in energy projects in Central and Eastern Europe starting from Fiscal Year 2019 until 2023 ✔ Despite that, the Nord Stream 2 project is continuing at full speed and no threat of sanctions appears capable of stopping it
Stock markets bounce back after heavy losses - business live
10/12/2018, 7:06:21 AMAll the day’s economic and financial news, as shares claw back some of this week’s losses ✔ Anxiety over US interest rates, the trade war between America and China, and signs that the world economy is slowing are all being blamed ✔ The agenda 10am BST: Eurozone industrial production figures for August 3pm BST: University of Michigan survey of consumer sentiment Updatedat 2.54am EDT
China 'won't be found' a currency manipulator, bank lobby group says
10/12/2018, 4:10:29 AMThe sell-off in the yuan is in some ways a reversal of the strength in the Chinese currency since 2016, Tim Adams, president and CEO of The Institute of International Finance, told CNBC. ✔ Experts said that could be an indication that Beijing is getting nervous about a long-drawn trade war with the U.S. The PBOC's decision will result in an injection of 750 billion yuan ($109.2 billion) in cash into the banking system but the central bank maintained that its monetary policy is still prudent and neutral not accommodative
China September exports surge, creating record surplus with U.S....
10/12/2018, 5:49:11 AMChina's vast export engine unexpectedly kicked into higher gear in Septembe... ✔ Li Kuiwen, a spokesman from the country’s customs agency, also told reporters trade growth may slow somewhat in the fourth quarter ✔ The world’s two biggest economies last slapped tit-for-tat tariffs on each other’s goods on Sept ✔ Our Standards:The Thomson Reuters Trust Principles
Is the market party over or just taking a breather?
10/12/2018, 6:07:41 AMWorld stock markets have been on a rollercoaster ride this week. ✔ Each time the US Fed raises the prospect of reining in the easy, cheap money, those that have become addicted to it begin to worry that it will have a large negative effect on the economy ✔ Our economy has some headwinds but is in generally good shape, despite the fact that the housing market is under pressure and consumer spending remains weak
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