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Asia stocks fall after Wall Street slump; China PMI beats estimates

Japan movers: Softbank, Nintendo, Toyota fall Apple suppliers in Asia fall after analyst downgrade China reports better-than-expected factory activity for September China’s official manufacturing Purchasing Managers’ Index surprisingly grew in September to 50.1, much higher than the 49.6 predicted by analysts in a Reuters poll. The 50-point mark separates growth from contraction. PMI prints compare …

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Asia markets rise, Hang Seng index up 2% after Wall Street rebound

EV maker Leapmotor’s shares plunge in Hong Kong debut Chinese electric vehicle maker Leapmotor’s shares tumbled more than 32% from its offer price of 48 Hong Kong dollars ($6.29) per share on its first day of trade in the city. Onewo, a subsidiary of property developer China Vanke, also started trading in Hong Kong. It …

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Stocks fall, Chinese yuan crosses 7.2 against the dollar

Chinese yuan at weakest since 2008, dollar index strengthens The offshore and onshore Chinese yuan breached 7.2 against the dollar, hovering at weakest levels since early 2008. The US dollar index also strengthened by 0.33%, trading at 114.47. Consumer inflation in Japan could decline in 2023: BOJ meeting minutes Consumer inflation excluding fresh food is …

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Oil prices rise as Iran deal stalls, Russian supply in question

Some pumpjacks operate while others stand idle in the Belridge oil field near McKittrick, California. Oil prices rose in early Asian trade on the prospect that a stalled Iran nuclear deal and Moscow’s new mobilization campaign would restrict global supplies. Mario Tama | Getty Images Oil prices plunged about 5% to an eight-month low on …

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stocks fall; Singapore, Malaysia inflation

An electronic board displays stock information at the Australian Securities Exchange, operated by ASX Ltd., in Sydney, Australia, on Tuesday, Feb. 6, 2018. Brendon Thorne | Bloomberg via Getty Images Asia-Pacific shares fell on Friday as investors continue to weigh the Federal Reserve’s aggressive stance. In Australia, the S&P/ASX 200 fell 2.28% on its return …

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Hong Kong’s Hang Seng rises 2%, leads Asia markets higher after Powell’s inflation comments

HSBC says China’s latest inflation readings allow PBOC to maintain accommodative monetary policy China’s latest inflation figures give the People’s Bank of China room to maintain its current monetary stance, HSBC said in a note. “The moderation in price pressures gives the PBOC room to stay accommodative,” greater China economist Erin Xin said. Xin added …

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