Nissan to supply cars to Honda in US, Nikkei says
Nissan is considering using its Mississippi factory in the U.S., which has a declining operating rate, to produce large pickup trucks for Honda, the report said.
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Business Times
3 hours ago
- Business Times
Fed watch, Japan's rally, and Indonesia's record run
It's been a week of market milestones in Asia from Wall Street optimism spilling over into Tokyo to Indonesia's equity surge and Singapore's brighter growth outlook. But how much of this momentum is real, and how much is just the market getting ahead of itself? In this week's Market Focus Weekly from The Business Times, host Emily Liu speaks with Gary Tan, CEO of Allspring Global Investments Singapore, about what's moving the numbers and whether investors should brace for a change in direction. Why listen? The Fed's next move and the 150-point cut chatter A softer US CPI print has traders convinced a September cut is coming. But Tan explains why a 150-basis-point slash is unlikely without an economic shock, and posits what's more realistic. Japan's rally and the policy cross-currents A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up The Nikkei and Topix are climbing fast, boosted by governance reforms, a weak yen, and strong earnings. But with unusual public pressure from the US on Japan's interest rates, how long can the momentum last? Indonesia's record-breaking run Foreign funds are flooding back, macro indicators are stabilising, and the Jakarta Composite Index is flirting with all-time highs. Here Tan shares what's driving the rally and whether in his opinion it's built to last. If you want the market signals without the noise, you'll want to listen in. Catch the full episode at or email your thoughts to btpodcasts@ . --- Written and hosted by: Emily Liu ( emilyliu@ ) With Gary Tan, CEO, Allspring Global Investments Singapore Edited by: Chai Pei Chieh & Claressa Monteiro Produced by: Emily & Chai Pei Chieh A podcast by BT Podcasts, The Business Times, SPH Media --- Follow Market Focus Weekly podcasts every Friday: Channel: Amazon: Apple Podcasts: Spotify: YouTube Music: Website: Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party's products and services. Please consult professional advisors for independent advice. Discover more BT podcast series: BT Money Hacks at: BT Correspondents: BT Podcasts: BT Branded Podcasts:
Business Times
5 hours ago
- Business Times
Japan's Nikkei ends at record high as yen weakens, economy shows resilience
[TOKYO] Japan's Nikkei closed at an all-time high on Friday (Aug 15), as the yen weakened and data showed the nation's economy was surprisingly resilient. The Nikkei 225 Index accelerated gains in the afternoon session, surging 1.7 per cent to end at a record peak of 43,378.31. It touched an intraday record high of 43,451.46 earlier in the week. The broader Topix jumped 1.6 per cent to 3,107.68, also a record closing level. The overnight drop in yen provided support to exporters' shares, while data released on Friday showed Japan's economy expanded at an annualised rate of 1 per cent in the April-June quarter, beating forecasts. Analysts expect the full impact of US tariffs on growth to emerge later. Rising US Treasury yields and comments from US Treasury Secretary Scott Bessent on Thursday that the Bank of Japan will likely be raising interest rates were factors behind a jump in financial shares, Nomura Securities strategist Wataru Akiyama said. 'Expectations for improved performance due to rising domestic interest rates are acting as a tailwind, leading to relatively large increases in bank and insurance company shares today,' he said. Banks were the biggest gainers in the Topix, with a sub-index of lenders climbing 4.7 per cent to its highest level since May 2006. Shares of Mitsubishi UFJ Financial Group rose 6 per cent, marking an eighth consecutive session of gains and hitting a record high. There were 177 advancers on the Nikkei index against 46 decliners. REUTERS
Business Times
9 hours ago
- Business Times
Asia: Stocks mixed before US-Russia summit
ASIAN stocks were mixed Friday after better-than-expected Japanese growth and weak Chinese data, while oil slipped back ahead of a US-Russia summit on Ukraine. On Thursday Wall Street finished little changed as strong wholesale inflation data tempered optimism about the US Federal Reserve cutting interest rates. A quarter-point cut is still expected but a larger half-point rate cut is likely 'off the table', said Jack Ablin of Cresset Capital Management. Intel surged 7.4 per cent following a Bloomberg News report that US President Donald Trump is considering an investment in the beleaguered chip company in exchange for a government stake. Japan's economy grew 0.3 per cent in the three months to June, while output for the previous period was revised upwards, averting a possible technical recession for the world's number four economy. The expansion came despite tariffs imposed by Trump on Japanese imports, including on cars - an industry accounting for eight per cent of Japanese jobs. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up In morning trade in Asia, the Nikkei was up almost one per cent while Shanghai, Seoul and Sydney also moved higher. But Hong Kong's Hang Seng fell for the second straight day after Chinese retail sales and industrial production grew at a slower rate than expected last month. A long-term crisis in the real estate sector and high youth unemployment have been weighing on Chinese consumer sentiment for several years. The situation has worsened with the heightened turmoil sparked by Trump's trade war. Oil prices dipped, reversing gains on Thursday ahead of Trump's Alaska summit with Russian President Vladimir Putin on ending the Ukraine war. Oil traders are worried 'that if the meeting doesn't go well, we'll see stronger sanctions on Russian oil thereby depriving the world of or making it much difficult for this oil to get to the market', said Stephen Schork of the Schork Group. AFP
