Investing.com– Most Asian currencies weakened on Tuesday, while the dollar steadied at an over two-month high amid persistent bets that the Federal Reserve will cut interest rates at a slower pace. Comments from Fed officials furthered this notion, especially as recent data showed resilience in U.S. inflation and the labor market. Traders were seen positioning for a smaller rate cut in November. Sentiment towards Asian markets was dampened by waning cheer over recent stimulus measures from China, especially as Beijing left out key details from a briefing on planned fiscal measures. The yuan weakened further on Tuesday. Dollar steady near…
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(Bloomberg) — Chinese stocks fluctuated in early trading Tuesday amid growing debate over how far the rally can go.Most Read from BloombergThe CSI 300 Index was down 0.3% as of 10:28 a.m. local time, after falling as much as 1.4% earlier. It rose 1.9% on Monday. A gauge of Chinese shares listed in Hong Kong slipped 0.5%.Volatility has gripped the market in recent sessions as investors assess the sustainability of the stimulus-driven rally that began late last month. While the size of Beijing’s planned fiscal boost remains unclear, media outlet Caixin reported that China may raise 6 trillion yuan ($846…
NASHVILLE, Tenn. (AP) — A federal appeals panel has temporarily halted two permits needed to begin construction on a pipeline project in Tennessee that will supply a natural gas plant.In a split 2-1 decision, the 6th U.S. Circuit Court of Appeals panel delivered a ruling Friday that, for now, prevents Tennessee Gas Pipeline Company LLC from starting to build its 32-mile (50-kilometer) pipeline through Dickson, Houston and Stewart counties.The project would fuel the Tennessee Valley Authority’s combined-cycle natural gas facility at the site of the coal-fired Cumberland Fossil Plant that is being retired.Tennessee Gas Pipeline Company could have begun construction…
91% of respondents intend to increase investments in private assets over the next two years60% of insurers targeting clean energy infrastructure investments for low-carbon transition objectivesRespondents see value in technology for key challenges of private asset modeling (53%) and regulatory capital integration (51%) NEW YORK–(BUSINESS WIRE)–Global insurers are focused on increased allocations to private markets, clean energy infrastructure and utilizing innovative technology in 2024, according to BlackRock (NYSE:)’s 13th annual Global Insurance Report. For the third year running, BlackRock’s annual report shows a majority of insurers are planning increased investments in private markets, with 91% of all respondents saying they…
Crowded beaches. Expensive rent. Tourist sites with wall-to-wall people.When it comes to overtourism, don’t blame the travelers, said Randy Durband, CEO of the Global Sustainable Tourism Council.Rather, it’s “lack of management,” he told “Squawk Box Asia” Monday. “I’ve been in travel and tourism for 40 years, working on committees and trade associations in Europe, North America and Asia,” he said. “Governments around the world traditionally just didn’t think they had a role in managing.”From marketing to managingDestination marketing organizations “must change the ‘M’ in DMO from marketing to management,” Durband told CNBC before the interview.He added that this shift has…
By Stella Qiu SYDNEY (Reuters) – Asian stocks were mostly higher on Tuesday, supported by a strong Wall Street close and investor optimism about corporate earnings, while the dollar held near a two-month top, aided by bets on a smaller U.S. rate cut next month. Oil prices are down about 3% after Israeli Prime Minister Benjamin Netanyahu reportedly told the United States that Israel is willing to strike Iranian military targets and not nuclear or oil ones, easing immediate concerns about supply disruptions. [O/R] The rallied 1% to a three-week peak, having been closed on Monday for a holiday. MSCI’s…
Bloomberg has learned that China has begun enforcing a long-overlooked tax on overseas investment gains by the country’s ultra-rich. Minmin Low reports on Bloomberg Television. (Source: Bloomberg) Source link
© Reuters. Investing.com– Most Asian stocks rose on Tuesday tracking record highs on Wall Street as the third-quarter earnings season approached, while Chinese stocks fell amid waning optimism over new fiscal stimulus. Regional markets took positive cues from Wall Street, with the and the hitting new peaks on gains in financial and technology stocks. U.S. stock index futures were mildly positive in Asian trade, with focus turning to a string of key Q3 earnings due this week. Chinese markets lagged their peers following weak inflation and trade data released over the past two days. The announcement of new fiscal stimulus…
Optiscan Imaging Limited (ASX:OIL) shareholders might be concerned after seeing the share price drop 23% in the last quarter. But over five years returns have been remarkably great. To be precise, the stock price is 336% higher than it was five years ago, a wonderful performance by any measure. So it might be that some shareholders are taking profits after good performance. Only time will tell if there is still too much optimism currently reflected in the share price.With that in mind, it’s worth seeing if the company’s underlying fundamentals have been the driver of long term performance, or if…
Getty Images; Jenny Chang-Rodriguez/BIPositioning in financial stocks is light relative to other sectors, Morgan Stanley says.It sees the group as underappreciated, citing its exposure to economic strength.Investors have been sticking to defensive and quality stocks despite strong data.Investors are lingering in defensive trades that don’t take advantage of the economy’s strength, Morgan Stanley said, highlighting opportunities in underinvested sectors.The firm — which just last week upgraded cyclical stocks to “overweight” relative to defensives — described the financials group as particularly attractive.Morgan Stanley said net exposure to financials was in the bottom 15th percentile of a historical data series that goes…