Iron ore falls in early Asian trading amid record-high inventories sitting at Chinese ports, ANZ Research analysts say. Still, the metal is finding support after China signals plans to restrict the use of certain inventories held at mainland ports. However, any price gains are likely to be limited…
South Korea's Kospi Reverses Early Losses; Last 2.6% Higher at 7843.52
The reopening of the Strait of Hormuz has reduced the risk of outright liquefied natural gas supply loss in the world market, but LNG shipping flows are recovering much more slowly than crude oil, likely leaving export capacity constrained well into 3Q, says Daniel Hynes, senior commodity strategis…
By Sherry QinKuaishou Technology's Kling has raised around $2 billion from investors, as the short-video company seeks to spin off and list its artificial-intelligence video unit.Venture capitalists and other investors have injected 13.82 billion yuan, or $2.04 billion, into Kling, Kuaishou said la…
Japan might be adopting new foreign-exchange intervention strategy, DBS Group Research's Philip Wee says in a commentary. The senior forex strategist notes rumors that Japan's Finance Ministry might shift to unannounced stealth currency interventions. Such interventions "could amplify volatility am…
By Paul VieiraOTTAWA--The Canadian federal government and the oil-rich province of Alberta agreed Thursday to support a new crude-carrying pipeline that aims to carry about one million barrels of oil daily to the Pacific coast via southwest British Columbia.Prime Minister Mark Carney added that Ott…
By Megumi FujikawaTOKYO--Japan's Finance Minister fired off yet another verbal warning to currency speculators, reaffirming her readiness to take action to prop up the yen."Our stance remains unchanged. We stand ready to take appropriate action at any time as needed," Satsuki Katayama said at a pre…
LG Electronics could post a 2Q earnings beat, driven in part by a U.S. tariff refund, Hana Securities' Minkyung Kim says. The analyst expects the South Korean consumer-electronics giant's consolidated operating profit to more than double on year to 1.441 trillion won for the April-June period. That…
Perpetual's bull at Macquarie reckons the latest private-equity bid fired its way underlines the value on offer at the Australian investment manager. "While the bid is in line with our valuation, we view our EPS as conservative with sizeable potential for cost-out and confidence in new management,"…
A private gauge showed China's services sector expanding at a slightly slower pace in June as new orders eased, though overall activity and demand remained robust.The RatingDog services purchasing managers' index fell to 54.1 in June from May's 54.4, according to a statement released Friday.The pri…
By Ronnie HaruiAsian stocks rose Friday morning as fading prospects for Federal Reserve interest-rate increases outweighed lingering concerns over excessive investment in artificial-intelligence infrastructure.U.S. employers added 57,000 new jobs in June, the Labor Department said Thursday, falling…
The market is still alert on risks of foreign-exchange intervention by Japanese authorities to prop up the yen, MUFG Bank's Michael Wan says in a research report. On Thursday, "yen strengthened from 162.83 [per dollar] to as much as 160.64, before trading at 161.28 at the time of writing," the seni…
Knowledge Atlas Technology, Horizon Robotics Lead Gains on Hang Seng Tech Index
Gold-Related Stocks Lead Gains on Hang Seng Index
LG Electronics Target Price Raised to KRW260,000 From KRW230,000 by Hana Securities >066570.SE
Malaysia's corporate earnings growth is expected to slow in 2H as rising costs and weaker sales weigh on profitability, Public Investment Bank analyst Eltricia Foong and team say in a note. While lasting peace in the Middle east remains uncertain, even if the conflict ends, oil and gas producers co…
The National Australia Bank has made "meaningful" upward revisions to its U.S. dollar projections across all major currencies, having earlier been hesitant to make changes due to the "fog of war." The key driver of the revisions is that the U.S. economy is proving much more resilient than anticipat…
Nikkei Stock Average Recoups Earlier Losses, Now 0.7% Higher at 69202.59
By Paul VieiraOTTAWA--The Canadian federal government and the oil-rich province of Alberta agreed Thursday to support a new crude-carrying pipeline that aims to carry about one million barrels of oil daily to the Pacific coast via southwest British Columbia.Prime Minister Mark Carney added that Ott…
By Megumi FujikawaTOKYO--Japan's Finance Minister fired off yet another verbal warning to currency speculators, reaffirming her readiness to take action to prop up the yen."Our stance remains unchanged. We stand ready to take appropriate action at any time as needed," Satsuki Katayama said at a pre…
