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Hong Kong stocks plunged, entering bear territory after the largest weekly loss in 5 months, attributed to China's property market turmoil.
The earnings letdown in Q2 raises concerns among institutional investors about the European stock market outlook.
The Fed expressed concerns at their last meeting on ‘significant upside risks’ to inflation though some urged caution for larger impact of tightening on economy.
If one-notch downgrade from AA- to A+ is implemented, more than 70 banks would be affected including some industrial behemoths. JP Morgan and BOA could be among them.
Japan’s economy posted its third straight quarterly expansion of an annualized 6% helped by a robust export growth, handily beating market expectations of 3.1% gain.
UBS said in March the currency would be benefited from the end of interest rate hikes by the Fed. But that will hardly play out with the expectation that the RBA is also nearly finished.
European natural gas prices surged almost 40% on Wednesday as the potential for disrupted global LNG supply from Australia spooked traders betting on further price declines.
Moody’s cut ratings on 10 small- to mid-sized lenders by one notch and placed six banking giants on review for potential downgrades on Tuesday.The rating agency warned that the sector’s credit strength would likely be tested by funding risks and weaker profitability.
Japan’s current account balance logged the fifth straight month of surplus in June as the trade balance swung to a surplus, government data showed on Tuesday.
Investor looking to ride crest of Asia boom are not deterred by Japan’s stock market hitting a 33-year high and signs of slowing global growth. Japan’s Nikkei 225 has gained over 23% year-to-date, well ahead of the S&P 500 despite U.S. economic resilience.
The U.S. added 209,000 jobs in June, slightly missing expectations for 230,000 and down from a downwardly revised 306,000 in May, according to the monthly employment report from the BLS.
Most global stocks dipped and Treasury yields climbed on Tuesday, as investors weighed declining factory activity in the euro zone and China with stabilizing U.S. manufacturing and job openings that signalled a still-tight labour market.
Wall Street and global stocks edged up on Monday while the dollar was little changed, as traders looked ahead to corporate earnings and a key employment report due this week.
World shares rose while U.S. Treasury yields fell on Friday as markets digested the BOJ's decision to tweak its ultra-loose monetary policy as well as data showing a continuing moderation in annual U.S. inflation.
