Latest news with #LisaKailaiHan
CNBC
22-05-2025
- Business
- CNBC
Asia-Pacific markets set to mostly climb as investors await slew of economic data
The upscale shopping district of Ginza in Tokyo, Japan, on Saturday, May 4, 2024. Bloomberg | Bloomberg | Getty Images Asia-Pacific markets were set to mostly climb Friday as investors await a slew of economic data in the region. Japan's benchmark Nikkei 225 is set to open higher with the futures contract in Osaka last trading at 37,150 and the contract in Chicago at 37,055 against the index's last close of 36,985.87. Australia's benchmark S&P/ASX 200 is also set to open higher, with futures standing at 8,388, higher than the index's last close of 8,348.7. Futures for Hong Kong's Hang Seng index stood at 23,492, lower than its last close of 23,544.31. Investors are parsing South Korea's PPI figures for April and New Zealand's retail sales for the first quarter of the year, which came out early Friday. Japan and Singapore are slated to report inflation data for April, and Taiwan is releasing its industrial output figures later in the day. U.S. stock futures were little changed as investors continue to evaluate the effect of higher U.S. Treasury yields on the economy. Futures tied to the Dow Jones Industrial Average added 14 points, or 0.03%. Nasdaq 100 futures were marginally lower, while S&P 500 futures ticked up 0.03%. Overnight stateside, the three major averages closed mixed as investors grappled with fears of rising rates and worries about a ballooning U.S. deficit. The 30-year Treasury yield hit its highest since 2023 as lawmakers passed a bill that investors fear could worsen the U.S. deficit. The Dow Jones Industrial Average slipped 1.35 points, closing at 41,859.09. The S&P 500 lost 0.04% and ended at 5,842.01, while the Nasdaq Composite advanced 0.28% and settled at 18,925.73. — CNBC's Lisa Kailai Han and Yun Li contributed to this report. The S&P 500 closed little changed on Thursday afternoon. The market benchmark slipped 0.04% to close at 5,842.01. The Dow Jones Industrial Average shed about 1 point and finished at 41,859.09. The Nasdaq Composite , on the other hand, added 0.28% to settle at 18,925.73. — Lisa Kailai Han Citi is seen on the floor of the New York Stock Exchange on March 3, 2025. NYSE Citi expects a worst economic outlook for the second half of the year. The bank attributed this partially to U.S. consumers and firms frontloading their spending to get ahead of tariffs. "As the full effects of the tariffs come online — likely over the next few months — demand could face a double blow. The tariffs could reduce real purchasing power, and in addition, frontloaded purchases will be 'paid back,'" global chief economist Nathan Sheets wrote in a Wednesday note. "As such, we view the current period as still the 'calm before the storm,' and we expect growth in the second half of the year to weaken." — Lisa Kailai Han
CNBC
21-05-2025
- Business
- CNBC
Asia-Pacific markets set to fall, tracking declines on Wall Street
Buildings in Auckland, New Zealand, on Monday, May 22, 2023. Bloomberg | Bloomberg | Getty Images Asia-Pacific markets were set to fall on Thursday, tracking declines on Wall Street. Japan's benchmark Nikkei 225 is set to open lower with the futures contract in Osaka last trading at 36,840 against the index's last close of 37,298.98. Australia's benchmark S&P/ASX 200 is also set to fall, with futures standing at 8,326, lower than the index's last close of 8,386.8. Futures for Hong Kong's Hang Seng index stood at 23,640, lower than its last close of 23,827.78. Investors will be looking out for the unveiling of New Zealand's 2025 budget. Stock futures were flat in overnight trading Wednesday following a sizable sell-off on Wall Street as worries about a ballooning deficit deepened. Futures on the Dow Jones Industrial Average dipped 60 points. S&P 500 futures and Nasdaq 100 futures were both little changed. Overnight stateside, the three major averages closed lower. Stocks sold off, pressured by a sharp spike higher in Treasury yields as traders grew worried that a new U.S. budget bill would put even more stress on the country's already large deficit. The Dow Jones Industrial Average lost 816.80 points, or 1.91% to 41,860.44. The S&P 500 shed 1.61% to 5,844.61. The Nasdaq Composite slid 1.41% to 18,872.64. The 30-year Treasury bond yield last traded around 5.09%, touching the highest level going back to October 2023. The benchmark 10-year Treasury note yield traded at 4.59%. — CNBC's Lisa Kailai Han and Alex Harring contributed to this report. Stocks closed lower Wednesday afternoon. The Dow Jones Industrial Average lost 816.80 points, or 1.91% to 41,860.44. The S&P 500 shed 1.61% to 5,844.61. The Nasdaq Composite slid 1.41% to 18,872.64. — Sarah Min Romain Costaseca | Afp | Getty Images Bitcoin broke through its January high-water mark to set a new record above $109,000 on Wednesday, helping fuel a rally in crypto-related stocks. Shares of Coinbase were up 2.7% on the day, while brokerage stock Robinhood climbed 1.5%. MARA Holdings jumped more than 4%. Bitcoin's high for the day is $109,500, according to Coin Metrics. Stock chart icon Bitcoin hit a record high on Wednesday.
CNBC
20-05-2025
- Business
- CNBC
Asia-Pacific markets set to trade mixed after Wall Street rally pauses
Futures for Hong Kong's Hang Seng index stood at 23,632, lower than its last close of 23,681.48. Australia's benchmark S&P/ASX 200 is set to rise, with futures standing at 8,421, higher than the index's last close of 8,343.3. Japan's benchmark Nikkei 225 is set to open higher, with the futures contract in Chicago at 37,595 while its counterpart in Osaka last traded at 37,590, against the index's last close of 37,529.49. Asia-Pacific markets were set to trade mixed Wednesday after Wall Street halted its six-day win streak. Investors are also looking out for economic data from across the region. Japan is set to release its trade data for April, while the Bank of Indonesia is slated to release its policy decision later in the day. The Bank of Indonesia slashed policy rates in September 2024, and then again in January 2025, but has kept rates on hold at 5.75% since, HSBC noted in a report. "Given growth weakness, Bank of Indonesia may have to embark on a deep rate-cutting cycle," the bank wrote. "For several reasons, we believe it's time to restart the easing cycle in May," the bank's economists said, citing weak first-quarter GDP growth and weakening currency against the greenback. U.S. futures were little changed. S&P 500 futures wavered Tuesday night following a losing session on Wall Street that snapped a winning streak. Futures tied to the broad index shed 0.2%, as did Nasdaq 100 futures. Dow Jones Industrial Average futures lost 93 points, or 0.2%. Overnight stateside, the three major averages closed lower. Stocks slipped on Tuesday as the big tech-led rally lost steam and the S&P 500 ended a six-day winning run. The S&P 500 fell 0.39% to end at 5,940.46, while the Nasdaq Composite dipped 0.38% and closed at 19,142.71. The Dow Jones Industrial Average lost 114.83 points, or 0.27%, finishing at 42,677.24. Investors dumped tech stocks, which had led the run over the past six days. The sector lost 0.5%. Nvidia slid 0.9%. Advanced Micro Devices, Meta Platforms, Apple and Microsoft also dropped. — CNBC's Lisa Kailai Han and Jesse Pound contributed to this report.
CNBC
24-04-2025
- Business
- CNBC
Asia-Pacific markets set to open higher after Wall Street gains as investors assess trade climate
Pedestrians walking across a crowded traffic at Shibuya crossing square in Tokyo, Japan. Jaczhou | E+ | Getty Images Asia-Pacific markets were set to mostly climb Friday after Wall Street gained for a third straight day as tech stocks rallied. Japan's benchmark Nikkei 225 is set to open higher, with the futures contract in Chicago at 35,690 while its counterpart in Osaka last traded at 35,560, against the index's last close of 35,039.15. Futures for Hong Kong's Hang Seng index stood at 22,158, higher than HSI's last close of 21,909.76. Australian markets are closed for a holiday. Futures linked to the S&P 500 were 0.3% higher, while Nasdaq-100 futures gained 0.4%. Futures tied to the Dow Jones Industrial Average hovered around the flatline. Overnight stateside, the three major averages closed higher thanks to strong gains in megacap tech names, as investors continued to look for signs of progress on the global trade front. The S&P 500 ended up 2.03% at 5,484.77, while the tech-heavy Nasdaq Composite added 2.74% to finish at 17,166.04. The Dow Jones Industrial Average lagged the other two indexes, weighed down by a 6.6% drop in IBM, but still added 486.83 points, or 1.23%, at 40,093.40. Shares of Nvidia, Meta, Amazon, Tesla and Microsoft all closed higher, propelling the major averages to their third day of gains in a row "Investors are becoming more comfortable with the uncertainties of tariffs as earnings roll in," said Louis Navellier, chairman and founder of Navellier & Associates. "The market seems to be positioning itself for a near-term reduction in the current sky-high China tariffs," he added. — CNBC's Lisa Kailai Han and Pia Singh contributed to this report. Stocks rallied on Thursday, notching their third day of gains in a row. The S&P 500 rallied 2.03%, closing at 5,484.77. The Nasdaq Composite rose 2.74% to settle at 17,166.04. The Dow Jones Industrial Average gained 486.83 points, or 1.23%, finishing at 40,093.40. — Lisa Kailai Han In a Thursday note, UBS strategist Sean Simonds wrote that the U.S. is increasingly approaching a recessionary regime. "Markets pricing rapidly in a 'recessionary' direction," he wrote. Simonds added that tariff-sensitive stocks are being "aggressively repriced" and are now down 20% relative to the market. Meanwhile, consumer discretionary stocks could take an even bigger hit going forward. "Consumer discretionary stocks are typically sensitive to growth slowdowns/recessions and have underperformed recently as the market pushes quickly in this direction. Earnings expectations have also been rapidly revised lower and hedge fund positioning has adjusted significantly," Simonds said. "Our models suggest more consumer discretionary downside momentum (eg. Kohls) and relative outperformance coming from communication services and utilities (eg. Live Nation and Ameren)." — Lisa Kailai Han The International Monetary Fund lowered its Asia economic growth forecast to 3.9% in 2025 from a 4.6% forecast made last year. Uncertainty surrounding trade policy is a major headwind for the region, Krishna Srinivasan, the IMF's Asia and Pacific Department director, told reporters Thursday. However, Srinivasan noted the central banks in the region have some scope to ease monetary policy that can help protect against some of the damage from trade policy. — Hakyung Kim
