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Asia-Pacific stocks rise as Tokyo inflation nears 42-year high

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Adani shares plunge further for second straight day of losses Shares of Adani Group companies continued to post steep losses for a second consecutive trading session in India after short-selling firm Hindenburg announced its short position in the conglomerate companies earlier this week. Adani refuted the allegations in two separate statements, adding that the group …

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Asia-Pacific Markets, Trade Data, Bank of Japan

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Hyundai posts bumper fourth-quarter earnings Hyundai Motor reported net profit of 1.71 trillion won ($1.4 billion) for the fourth quarter ending in December, marking a 143.8 percent year-on-year increase. Despite the strong results, the reading was still below Refinitiv’s forecast of 2.5 trillion won in net profit. The figure also marks a growth of 21.1% …

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Asia-Pacific stocks trade mixed after Wall Street losses

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Indonesian and Indian currencies not seen as benefiting from China’s reopening: ANZ Unlike other emerging market currencies, the Indonesian rupiah and Indian rupiah did not gain much of China’s reopening, said Khoon Goh, head of Asia research at ANZ Bank. These currencies have “delayed movement…because these two economies are not seen as huge beneficiaries of …

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Asia-Pacific stocks trade higher, BOJ leaves yield range unchanged

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Gambling shares jump after China grants licensing approvals Hong Kong-listed gaming stocks rose after China granted licensing approvals for 88 games, including NetEase, Tencent Holdings and miHoYo, marking a further easing of a crackdown on gaming in Beijing. Shares of NetEase jumped as much as 6.81% in early trade, hitting its highest level in more …

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Asia-Pacific markets mostly fall as investors digest Chinese economic data

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Goldman Sachs: China’s ‘exit wave’ on reopening weighs on economy China’s “exit wave” in its reopening process has slowed the economy significantly, Goldman Sachs economists said in a report. “The ongoing ‘exit wave’ following China’s faster-than-expected reopening has weighed heavily on economic activity in recent months, due to a surge in infections, a temporary labor …

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Japan wholesale price, bitcoin, China Covid, US inflation

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Wholesale prices in Japan rise faster than expected Japan’s producer prices, or wholesale prices, rose 10.2% in December from a year ago, according to official data. It was more than the 9.5% rise expected by economists polled by Reuters and marked the third straight rise in monthly readings. The country’s producer prices rose 0.5% on …

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Asia-Pacific Shares Generally Higher on Cooler Inflation Impression

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China’s December exports fell less than expected China’s exports and imports fell less than expected for December, according to the customs administration. Chinese exports fell 9.9% in December from a year ago, in US dollar terms, slightly better than the 10% drop predicted by a Reuters poll. Imports fell 7.5% in December from a year …

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Asia-Pacific stocks trade higher ahead of US inflation report

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Cryptocurrencies trade higher even as Coinbase announces layoffs Cryptocurrencies rose slightly after crypto companies Coinbase announced plans to cut 20% of its workforce as it seeks to preserve cash during the crypto market downturn. Bitcoin last traded up 1.55% at $17,459.63 according to Coin Metrics. Ether gained 1% to $1,337.85. Other digital coins like Cronos …

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Asia Pacific Markets, Fed Minutes, Inflation, PMI, Singapore Retail, Caixin Services

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Singapore’s annualized retail sales for November rise at a slower pace Singapore’s retail sales rose 6.2% in November from a year ago, less than the 10.3% growth recorded in October, according to the latest figures released by the Statistics Department. The reading marked an easing from the past seven consecutive months of double-digit annualized growth. …

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