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Asian stocks shuffle higher as Pelosi presses on

Asian stocks rose in a choppy session on Thursday as a bit of nervous tension over Nancy Pelosi’s visit to Taiwan dissipated and as investors took cues from robust U.S. data and earnings. Hong Kong tech shares .HSTECH led the attempted rebound with a gain of 2.8%, reeling in some of the losses suffered as Sino-U.S. frictions flared over a visit to Taipei this week by House of Representatives Speaker Pelosi, which angered China. .HK The Hang Seng .HSI rose 1.7%. Japan’s Nikkei .N225 rose 0.7%. MSCI’s broadest index of ...

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Asian stocks gain as investors weigh risk from Pelosi Taiwan visit

Stocks rose in volatile trading across Asia on Wednesday and the dollar pared early gains as investors weighed the potential fallout from U.S. House Speaker Nancy Pelosi’s visit to Taiwan, which has angered China. Bond yields were also helped as demand for the safest assets eased despite heightened tensions between the United States and China, which views Taiwan as a breakaway province. “In the longer term, there will be more frictions between the U.S. and China,” said Redmond Wong, Greater China market strategist at Saxo Markets in Hong Kong. “We ...

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Stocks and bond yields fall on Taiwan tensions

Global stocks slipped and bond yields fell on Tuesday, compounding fears of a global recession, on concern that a visit by U.S. House of Representatives Speaker Nancy Pelosi to Taiwan would further harm relations between China and the United States. Investors sought safer assets after China threatened repercussions if Pelosi visited the self-ruled island, which Beijing claims as its territory. U.S. long-term Treasury yields dropped to a four-month low, while euro zone bond yields fell. The dollar and Japanese yen gained. Crude oil also sank as investors amid signs of ...

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World stocks hit 7-week highs, dollar squeezed vs yen

World stocks hit seven-week highs on Monday, buoyed by recent strong corporate earnings and declining expectations for hefty interest rate rises, while the dollar slid against the yen as speculators exited suddenly unprofitable short positions. Global shares gained 7% last month and bond markets rallied as investors started to look for a peak in official interest rates, given slowing economic growth. Markets have gathered steam after last week’s 75-basis-point Federal Reserve hike and comments on the economy from Fed chair Jerome Powell. “There’s a sense of relief that the Fed ...

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Wall Street extends July rebound, led by tech, energy

U.S. stocks extended their July rebound on Friday, with the dollar and some Treasury yields dipping, as traders acted on positive corporate news despite increased labor costs and other inflation indicators. Positive forecasts from Apple Inc and Amazon.com Inc showed resilience in mega-cap companies to survive an economic downturn, with hopes of a less aggressive monetary policy boosting sentiment. The two largest U.S. oil companies, Exxon Mobil and Chevron Corp, also posted record revenue on Friday, bolstered by surging crude oil and natural gas prices. The Nasdaq Composite added 115.75 ...

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Take Five: Time to be forceful?

Britain and Australia may opt for 50 basis-point rate hikes in coming days, given the high risk that markets will punish any central bank that hesitates to crack down on multi-decade high inflation. But policymakers must also contend with cooling economies, with U.S. post-COVID job creation possibly topping out and a gas supply crunch potentially throwing Europe into recession. Here is your week in markets from Dhara Ranasinghe, Karin Strohecker and Sujata Rao in London; Kevin Buckland in Ottawa and Lewis Krauskopf in New York. 1/ WINTER IS COMING Even ...

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Asia week ahead: Central bank decisions, inflation and manufacturing reports

Key central bank decisions Following the slightly lower than expected 2Q22 CPI release recently, the Reserve Bank of Australia (RBA) can probably stick to hiking rates by only 50bp at the 2 August meeting. This will leave it able to respond further in September should the Wage price index data due on 17 August show an alarming increase in wage costs. Policy rates in Australia would still be lower than the 2.5% that RBA Governor Lowe has indicated are the lowest likely level of neutral nominal interest rates. Governor Lowe ...

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Global equity funds record fifth weekly outflow in a row

Global equity funds witnessed weekly outflows for a fifth straight week in the week to July 27 on caution ahead of the U.S. Federal Reserve’s policy meeting and on lingering fears over a global recession. According to Refinitiv Lipper, global equity funds booked net selling of $2.73 billion, although weekly outflows eased to the lowest in five weeks. The Fed raised U.S. interest rates by 75 basis points on Wednesday, in a quest to cool the sharpest inflation since the 1980s and signalled “ongoing increases” in borrowing costs were still ...

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European shares climb, set for best month since Nov 2020 on earnings cheer

European shares rose on Friday and were on pace for their first monthly gain in four as a host of strong earnings from corporate Europe overshadowed fears of a global recession, with focus now on euro zone inflation and GDP data later in the day. The pan-European STOXX 600 .STOXX was up 0.7% by 0715 GMT, rising for the third straight session, and set for its best monthly performance since November 2020. The index has gained 2.3% so far this week as investors hoped for a possible slowdown in the ...

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Shares take breather after Fed rally, dollar slips on yen

World shares consolidated a 6-week high on Thursday as investors scented a possible slowdown in the pace of U.S. rate hikes that had comforted bond markets and sent the dollar to a three-week low on the yen. Europe made an upbeat start as record-busting $11.5 billion profits from oil giant Shell (LON:RDSa) sent commodities shares soaring, although momentum quickly faded ahead of what was expected to be some shaky euro zone confidence data later. The U.S. Federal Reserve had surprised no one by lifting rates 75 basis points (bps) to ...

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Buoyant company earnings lift recession-focused markets

Better-than-expected earnings from a raft of U.S. and European companies helped steady global stock markets on Wednesday, cutting through gloom caused by rising interest rates and the threat of an energy crunch due to Russian gas supply cuts. Ten-year U.S. Treasury bond yields – the reference rate for global cost of capital – held near three-month lows touched on Tuesday, while several bond market recession gauges continued to flash warnings that growth in the world’s largest economy is slowing, if not going into reverse. Bond gains were capped, however, by ...

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UBS, retailers weigh on European stocks amid recession worries

European stocks fell on Tuesday as a slide in retailers and Swiss bank UBS offset a rally in oil stocks and Unilever, which rose after an upbeat sales forecast. The pan-European STOXX 600 index .STOXX fell 0.1% by 0722 GMT with broader sentiment remaining fragile on recession worries. Russia is set to cut more gas supplies to Europe, while investors also brace for a possible interest rate hike by the U.S. Federal Reserve on Wednesday. Retail stocks .SXRP were the biggest decliners, down 2.3%, hit by a profit warning from ...

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Stocks weaken as growth slowdown fears cloud start of week

Stocks headed lower on Monday with investors in a cautious mood ahead of the Federal Reserve’s two-day policy meeting and what could be the latest central bank signal of an even faster pace of tightening just as signs of a global slowdown mount. Overall, the start of the week across markets began quietly, with the dollar holding above a 2-1/2 week high and government bond yields little changed after falling on Friday. A widely watched survey showed German business morale falling more than expected in July as high energy prices ...

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European shares recover after rout; focus on ECB policy meeting, Italian politics

European shares inched up on Friday, recovering from a two-day rout, with investors focussing on the European Central Bank’s policy meeting next week and Italy’s political turmoil. For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window July 15 (Reuters) – European shares inched up on Friday, recovering from a two-day rout, with investors focussing on the European Central Bank’s policy meeting next week and Italy’s political turmoil. The STOXX 600 index .STOXX was up 0.1% by 0713 GMT. ...

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GLOBAL MARKETS-Shares slide ahead of U.S. inflation data, earnings hurdles

Shares slid on Monday as investors braced for a U.S. inflation report that could force another super-sized hike in interest rates, and the start of an earnings season in which profits will be under pressure. The STOXX index of European shares fell 1.3% .STOXX, with S&P 500 futures ESc1 down 0.8% and Nasdaq futures NQc1 off 0.9% as an upbeat U.S. June payrolls report raised expectations of a 75 basis point hike from the Federal Reserve. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS slipped 1.8%, while Chinese blue ...

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