Asia's fading momentum seen in Japan's latest contraction
11/14/2018, 3:34:19 AMTrade war and Fed tightening are weighing on slowing economies such as China ✔ This was partly due to a series of natural disasters, but also lackluster consumer and business spending ✔ The Fed has raised rates three times this year, and analysts expect another hike in December ✔ It is more like slowing the pace of (deleveraging) than loosening the credit spigot, said Merrill Lynch's Devalier
Trump's top trade advisers appear to be on wildly different pages as the China trade war hits a critical stretch
11/14/2018, 12:24:01 AMPresident Donald Trump's trade team is still fractured as key talks with China about the trade war and possible auto tariffs loom. ✔ Kudlow, the former CNBC host and Wall Street economist, said Navarro was wrong because Trump has been speaking to many interested parties including Wall Street banks to solicit input on the trade war with China ✔ A decision on that issue appears to be close, as Trump convened a meeting of his trade team to discuss the auto tariffs on Tuesday
Stock market rebound loses steam as oil gets clobbered
11/13/2018, 8:46:39 PMStocks fail to build on early gains Tuesday as oil prices cratered and a resolution of the ongoing U.S.-China trade war remained elusive. ✔ December West Texas Intermediate oil CLZ8, -8.14% tumbled 7.1% to settle at $55.69 a barrel, finishing at the lowest for a front-month contract in almost a year and falling for a record 12th session, according to FactSet data ✔ Instinet On a 12-month rolling basis, this is just about average ✔ Asian markets were mixed while European stocks were mostly higher ✔ The dollar, measured by the ICE U.S. Dollar Index DXY, -0.41% softened and gold GCZ8, -0.16% settled lower
Natural disasters hit Japan's economy
11/14/2018, 2:56:40 AMRising protectionism could threaten exports and the growth outlook for the world's third largest economy. ✔ Japan was hit by several natural disasters over its summer, including one of the country's , an earthquake and a deadly typhoon ✔ Trade war uncertainties have begun to increase, we see some slowdown in Asia and that is gradually hitting Japan, Kohei Iwahara, economist at Natixis Japan Securities, told AFP
Trump's tariff battle with China is spurring record dollar-yuan trading
11/14/2018, 2:23:33 AMMarket uncertainty due to the ongoing trade dispute between the U.S. and China has spurred a jump in trading volumes for the dollar-yuan currency pair in recent months. ✔ A new entrant Such ups-and-downs in the foreign exchange market have prompted a Singapore-based privately backed Chinese exchange to launch a new dollar-offshore yuan futures contract ✔ In contrast to 2015/16, there is now more risk from foreign investor portfolio investment and FDI (foreign direct investment) taking flight or drying up
The Dow Falls 101 Points, but Did You See the Nasdaq?
11/13/2018, 10:31:22 PMThe Dow Jones Industrial Average ended in the red for a second day this week. The Nasdaq Composite, however, managed to close up just a smidgen. ✔ The U.S. dollar index, which measures the value of dollar against a basket of foreign currencies, has reached fresh highs this week, a level not seen since mid-2017 ✔ However, with government deficits widening since 2016 and fiscal stimulus closer to being priced in, we’ll likely approach the inflection point soon, he suggests
Opinion | China and Trump, Listen Up!
11/13/2018, 9:09:44 PMBoth sides need to be smart and honest about how the countries became economic successes. ✔ This system has produced high levels of innovation Alibaba, Tencent, DJI despite a censored internet, lack of a free press and an authoritarian government ✔ Follow The New York Times Opinion section on Facebook , Twitter (@NYTopinion) and Instagram
Market hasn't recovered from October shock, won't rally until signs of a bottom: Art Cashin
11/13/2018, 10:11:19 PMThe seasonal rally that many are expecting may be delayed as the market tries to find a bottom, says closely followed trader Art Cashin. ✔ It had a terrible shock in October, and it hasn't fully recovered, the UBS director of floor operations at the New York Stock Exchange said on Closing Bell ✔ October's rout saw the Dow Jones Industrial Average end down 5.1 percent for the month, its biggest one-month fall since January 2016 ✔ Look for quality, good cash flow when investing right now, she said on Closing Bell
Japan’s Economy Shrank in Latest Quarter as Natural Disasters Hurt Exports
11/14/2018, 12:39:05 AMThe Japanese economy contracted during the three months through September as a series of natural disasters hurt exports and spending by tourists. ✔ A worker stocks shelves at a Uniqlo clothing store in Tokyo ✔ Private consumption, which accounts for nearly 60% of gross domestic product, declined 0.1% in the third quarter ✔ Bad weather kept consumers at home, while increases in fresh food and energy prices made them reluctant to spend elsewhere, economists said
ASEAN warns of ‘domino effect’ of protectionism, rival blocs
11/14/2018, 3:34:01 AMSINGAPORE--Asian leaders gathered for a summit on Tuesday amid warnings that the post-World War II i ✔ Returning to the theme as the leaders sat down to dinner, he said: Countries are becoming insular, retreating from multilateralism and globalization, which has been the cornerstone of ASEAN peace and stability ✔ Last week, U.S. Secretary of State Mike Pompeo and Defense Secretary Jim Mattis urged their Chinese counterparts to halt militarization of the South China Sea, drawing a rebuke from the Chinese for sending U.S. warships close to islands claimed by Beijing
U.S. senators alarmed if China gets control of Djibouti port
11/13/2018, 11:37:23 PMTwo prominent U.S. senators expressed alarm on Tuesday about the military and po... ✔ A tiny nation strategically located at the southern entrance to the Red Sea on the route to the Suez Canal, Djibouti became home to China’s first overseas military base last year ✔ A U.S. base located just miles away stages operations against Islamic State, al Qaeda and other militant groups ✔ Our Standards:The Thomson Reuters Trust Principles
China censorship moves from politics to economics
11/13/2018, 9:12:43 PMundefined ✔ Washington’s latest tariffs on $200bn of Chinese exports dominated business news across much of the world ✔ It was a build-up of complaints which meant regulators acted, the reporter said ✔ I want to ask Jack Ma, how many of my colleagues are you planning to take
U.S. legislation to urge possible China sanctions over Xinjiang...
11/14/2018, 12:48:22 AMU.S. lawmakers will introduce legislation on Wednesday urging a stronger respons... ✔ The White House and the Chinese Embassy in Washington did not immediately respond to a request for comment on the legislative proposal, which is also being put forth by Republican Senator Marco Rubio and Democratic Senator Bob Menendez ✔ Our Standards:The Thomson Reuters Trust Principles
'Surprisingly strong': Consumer mood recovers from rate hike shock
11/14/2018, 12:21:37 AMThe index has now fully come back from a sharp drop in September. when political instability and rises in home loan rates at most banks soured the public mood. ✔ Its measure of economic conditions for the next 12 months also rose 1.7 per cent, while the measure for the next five years surged 9.7 per cent as worries about a global trade war seemed to ease a little ✔ Reuters Retail GDP Most Viewed in Business Loading Please explain Our weekly podcast giving you insight into the stories that drive the nation
US legislators to urge China sanctions over Xinjiang crackdown
11/14/2018, 1:42:29 AMProposed bill will urge Trump to condemn crackdown on Uighurs, press for ban on sale of surveillance technology. ✔ Global Magnitsky Act Beijing has dismissed accusations of human rights abuses in Xinjiang and urged the United States and other countries to stay out of its internal affairs ✔ November 12 is the 74th and 85th anniversary of two short-lived Uighur republics, known as East Turkestan, which were established in territory that is now part of China ✔ The Listening Post Xinjiang: The story Beijing doesn't want reported
Japan's economy contracts as natural disasters and trade frictions hit hard
11/14/2018, 2:05:39 AMJapan's economy contracted in the third quarter, hit by natural disasters and a decline in exports, a worrying sign that trade protectionism is starting to take its toll on overseas demand. ✔ Smith Collection |Gado | Getty Images A large crowd of people cross an intersection on a rainy day in the Shibuya ward, a popular entertainment and shopping district in Tokyo, Japan, with many billboards visible on nearby buildings, October 13, 2017 ✔ Private consumption, which accounts for about 60 percent of GDP, fell 0.1 percent July-September
Trump's fighting words to France: Open your wine market
11/13/2018, 9:26:15 PMAmerican winemakers expect the European Union to lower their tariffs in response to growing U.S. pressure ✔ President Donald Trump's Twitter tirade against French President Emmanuel Macron on Tuesday also took aim at a sensitive subject for oenophiles on both sides of the Atlantic: wine ✔ Unlike the auto industry, U.S. winemakers are more optimistic a trade war can be avoided
U.S. recession unlikely before 2020, and then 'wok' shaped
11/13/2018, 9:12:04 PMU.S. President Donald Trump may just escape having to grapple with a recession b... ✔ Slideshow (2 Images) SLOWING GROWTH Both Wien and Fels pointed to potential risks at a time the economic expansion, now nine years old, is likely to slow, while corporate earnings are also expected to taper ✔ Follow Reuters Summits on Twitter @Reuters_Summits Our Standards:The Thomson Reuters Trust Principles
ECB bond buying in final act as growth to bounce back: Reuters poll
11/14/2018, 12:09:24 AMEuro zone GDP growth will hit a faster albeit still modest rate this quarter, al... ✔ Average annual inflation is expected to be below the ECB’s 2 percent target ceiling until 2021 at the earliest, suggesting weak price pressures will not shift the central bank at this stage ✔ (For other stories from the Reuters global long-term economic outlook polls package see) Our Standards:The Thomson Reuters Trust Principles
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