SHANGHAI (Reuters) -China’s auto sales surged 29.7% in July from a year earlier to 2.42 million units, extending a recovery that began in June with the help of eased COVID curbs and government incentives. Sales for the first seven months, though, were still 2% lower than the corresponding period in 2021, data from the China …
China’s July auto sales extend recovery, jump 30% as COVID curbs ease Read More »
By Sameer Manekar (Reuters) – Bearish bets on emerging Asian currencies eased on hopes that monetary tightening will cool red-hot inflation, with short bets on the Thai baht falling sharply after the first rate hike in the country in nearly four years, a Reuters poll found. Short positions on all emerging Asian currencies fell, with …
Asian currency bears retreat as inflation view improves – Reuters poll Read More »
(Reuters) -Swiss lender Credit Suisse Group AG sought permission from an English court last week to initiate formal legal proceedings against Japan’s SoftBank Group Corp over a $440 million dispute, the Financial Times reported on Thursday. The claims relate to Credit Suisse client funds that the now-defunct Greensill Capital had lent to Katerra, a U.S. …
Credit Suisse steps up $440 million legal dispute with SoftBank-FT Read More »
BANGKOK (Reuters) – Thai consumer confidence rose for a second straight month in July, reaching a five-month high, boosted by improved economic activity following an easing of COVID-19 curbs, but high cost of living remained a concern, a survey showed on Thursday. The consumer index of the University of the Thai Chamber of Commerce increased …
By Sinéad Carew NEW YORK (Reuters) – Wall Street equities rallied and the dollar tumbled after signs of sharply decelerating U.S. inflation prompted bets that the Federal Reserve would raise interest rates at a slower pace than previously expected. Treasury yields mostly pulled back from an earlier plunge as investors digested data showing that consumer …
By John McCrank NEW YORK (Reuters) – The dollar fell broadly on Wednesday following a cooler-than-expected U.S. inflation report for July that raised expectations of a less aggressive interest rate hike cycle than previously anticipated from the Federal Reserve. U.S. consumer prices were unchanged on a monthly basis in July as the cost of gasoline …
Dollar drops on cooler-than-expected U.S. inflation data Read More »
By Samuel Shen and Xie Yu SHANGHAI/HONG KONG (Reuters) – Global fund managers holding U.S.-listed Chinese stocks are steadily shifting towards their Hong Kong-traded peers, even as they remain hopeful Beijing and Washington will eventually resolve an audit dispute to keep Chinese firms on American exchanges. The pace of migration will likely accelerate, as more …
Analysis-China investors hedge U.S. delisting risk with Hong Kong play Read More »
By Arathy Somasekhar, Noah Browning and Alex Lawler HOUSTON/LONDON (Reuters) – Physical oil prices around the world have begun to sag alongside futures, reflecting less alarm over Russian-led supply disruptions along with heightened worries about a possible global economic slowdown. “The market is very bearish at this moment. No one is in a hurry to …
Global physical oil market weakens as recession jitters mount Read More »
By Sam Nussey TOKYO (Reuters) -SoftBank Group Corp said on Wednesday it would book a gain of $34.1 billion by cutting its stake in Alibaba Group Holding, as the investment behemoth looks to shore up its cash reserve to weather the market downturn. The Japanese company will reduce its stake in Alibaba to 14.6% from …
SoftBank to gain $34 billion from cutting Alibaba stake Read More »
By Orathai Sriring and Kitiphong Thaichareon BANGKOK (Reuters) -Thailand’s central bank raised its key interest rate for the first time in nearly four years on Wednesday to counter surging inflation, signalling further gradual increases as an economic recovery gains momentum. The Bank of Thailand (BOT), which had been among Asia’s least hawkish central banks, finally …
Thailand hikes rate for first time since 2018 to tame hot inflation Read More »
