Asia report: Stocks rise on Fed sentiment, data from China and Korea

2 months ago Sharecast.com

The broader Topix index eked out gains of 0.05% by the end of trading in Tokyo, settling at 1,986.46. Fresh data out of China showed the country’s industrial sector contracting less than expected in November. The Caixin/Markit manufacturing purchasing managers’ index came in at 49.4 for the month, rising from 49.2 in October and above the 48.9 reading pencilled in by economists polled by Reuters. The Caixin data came after Beijing’s official manufacturing PMI came in at 48 on Wednesday for a second consecutive month in contraction territory. The blue-chip technology stocks were mixed in South Korea, with Samsung Electronics up 0.64%, while SK Hynix lost 0.35%.
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London open: Miners pace the gains as investors eye Fed meeting

London stocks rallied in early trade on Tuesday, with miners and Ocado pacing the advance, as investors eyed the start of the Federal Reserve’s two-day policy meeting. At 0840 GMT, the FTSE 100 was up 1.5% at 7,197.54, while sterling was 0.5% higher against the dollar at 1.1531. Oanda market analyst Craig Erlam said: "While a 75-basis point hike looks locked in tomorrow, the messaging is what investors are interested in. The question is whether the central bank believes its efforts will achieve that or if more needs to be done. 815.60p 0.15%Unilever (ULVR) 3,980.50p 0.15%Haleon (HLN) 268.50p 0.19%BT Group (BT.A) 130.20p 0.31%Aveva Group (AVV) 3,132.00p 0.38%BP (BP.)

3 months ago Sharecast.com

Asia report: Hong Kong surge leads region higher

It was still below the 50-point level that separates expansion from contraction, however, and was in line with Monday’s official manufacturing PMI, which was also 49.2 for the month. Official PMI data in China is based on large, state-affiliated activity, while Caixin’s surveys are seen as more reflective of private, small-to-medium firms. Hong Kong’s economy shrank against expectations in the third quarter, according to official data released on Tuesday, with gross domestic product down 4.5% year-on-year. “The worsened external environment and continued disruptions to cross-boundary land cargo flows dealt a serious blow to Hong Kong’s exports,” the city’s Census and Statistics Department said in its statement. Technology plays were in the green in the special administrative region, on the back of the better-than-expected Caixin manufacturing data.

3 months ago Sharecast.com

Invesco Asia Trust Plc - Half-year Report

Further details are provided in the Glossary of Terms and Alternative Performance Measures in the Company’s 2022 Annual Financial Report. Performance numbers are shown as total return net of withholding tax in sterling terms. The accounting policies applied to these condensed financial statements are consistent with those applied in the Company’s 2022 Annual Financial Report. Further details can be found in Note 6(d) of the Company’s 2022 Annual Financial Report on page 62. BenchmarkThe benchmark of the Company is the MSCI AC Asia ex Japan Index (total return, net of withholding tax, in sterling terms).

6 days ago Sharecast.com

Asia report: Stocks rise despite weaker data from China, Japan

Most stock markets in the Asia-Pacific region were in the green on Tuesday, as investors digested some weaker-than-expected economic data out of both China and Japan. Data released earlier showed Japan’s economy unexpectedly contracting in the third quarter, according to preliminary estimates. Fresh data out of China on its industrial output and retail sales came in below expectations earlier in the session. The Reserve Bank of Australia revealed that it had considered a 50-basis point rise in its last decision, before settling on the 25-basis point hike to the current 2.85%. Investore Property was down 1.3%, Kiwi Property Group lost 2.8%, and PGG Wrightson was 1.4% weaker.

2 months ago Sharecast.com

Asia report: Stocks weaker, house prices fall faster in China

Automation specialist Fanuc was down 0.33%, while fashion firm Fast Retailing rose 0.36% and technology conglomerate SoftBank Group jumped 2.94%. The broader Topix index was 0.05% weaker by the end of trading in Tokyo, settling at 1,963.29. On the data front in China meanwhile, new house prices fell faster in October, by 0.37% month-on-month, compared to the 0.28% slip recorded in September. Duncan Wrigley at Pantheon Macroeconomics put the faster fall down to the strict enforcement of Covid measures before the annual National Congress, as well as uncertainty over the economic outlook keeping house buyer wallets closed. “Second-hand home prices have fallen faster, leading to higher sales of second-hand homes than new homes in many markets,” Wrigley said.

2 months ago Sharecast.com

Rentokil Initial Q3 revenues up double-digits, Ocado partners with South Korea's Lotte Shopping

Stocks to watchServices group Rentokil Initial saw "continued momentum" across the group in the third quarter, with revenues up double-digits year-on-year. Rentokil said ongoing and total revenues were both up 18.9% at £900.9m and £901.3m, respectively. The FTSE 100-listed group also noted it had "continued to successfully manage inflationary pressures" and maintained its full-year outlook for the underlying business. Grocery technology firm Ocado has struck a partnership with South Korean business conglomerate Lotte Shopping to develop the latter's online offering. – TelegraphMore than 50 company directors who have been disqualified have faced no disciplinary action from the Financial Conduct Authority and seven remain approved by the regulator, a Times investigation has found.

3 months ago Sharecast.com

London midday: Stocks in the black as miners rally; Fed eyed

London stocks were still firmly in the black by midday on Tuesday, underpinned by a solid performance from the mining sector and stellar gains for Ocado , as investors eyed the start of the Federal Reserve’s two-day policy meeting. The question is whether the central bank believes its efforts will achieve that or if more needs to be done. Prices fell 0.9% on the month, having been flat in September, marking the largest monthly fall since June 2020. On the downside, pest control and business services group Rentokil fell despite posting a jump in third-quarter profit. Market MoversFTSE 100 (UKX) 7,205.79 1.57%FTSE 250 (MCX) 18,317.89 2.39%techMARK (TASX) 4,279.37 0.98%FTSE 100 - RisersOcado Group (OCDO) 648.80p 37.34%JD Sports Fashion (JD.)

3 months ago Sharecast.com

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