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CNBC
19-05-2025
- Business
- CNBC
Asia-Pacific markets set to rise with Reserve Bank of Australia decision, China loan prime rate on deck
Cityscape image of Sydney, Australia with Harbor Bridge and Sydney skyline during sunset. Vacation and travel in Australia. Prasit Photo | Moment | Getty Images Asia-Pacific markets were set to climb Tuesday as investors look toward the Reserve Bank of Australia's policy rate decision, as well as the listing of the world's largest battery manufacturer Contemporary Amperex Technology. Japan's benchmark Nikkei 225 is set to open higher, with the futures contract in Chicago at 37,640 while its counterpart in Osaka last traded at 37,570, against the index's last close of 37,498.63. Likewise, Australia's benchmark S&P/ASX 200 is set to rise, with futures standing at 8,384, higher than the index's close of 8,295.1. Futures for Hong Kong's Hang Seng index stood at 23,378, slightly higher than its last close of 23,332.72. The Reserve Bank of Australia is slated to release its policy rate decision later in the day. Australia's inflation has been easing, with the most recent headline inflation coming in at a four-year in at a four-year low of 2.4% in the first quarter of 2025. The Reserve Bank of Australia has emphasized in its previous monetary policy statement that bringing inflation to its 2% to 3% target range sustainably remains its highest priority. The Commonwealth Bank of Australia expects the RBA to cut the cash rate by 25 basis points to 3.85%. The RBA said in its previous monetary policy statement that returning inflation sustainably to its target of between 2% and 3% "within a reasonable timeframe" is its highest priority. China is also slated to report its loan prime rate decision. The People's Bank of China is expected to cut its 1-Year Loan Prime Rate (LPR) and 5-Year LPR by 10 bps to 3.00% and 3.50% respectively, said Lazard's Chief Markets Strategist Ronald Temple. "While the decrease is very small, it is yet another signal that the central government is still working to stimulate economic activity, albeit in a suboptimal and insufficient manner," Temple said in a note late Monday. Investors are also looking toward the listing of the CATL on the Hong Kong stock exchange, in what will reportedly be the largest global listing in 2025. U.S. stock futures were little changed. S&P 500 futures rose less than 0.1%. Nasdaq 100 futures were down 0.1%, while futures tied to the Dow Jones Industrial Average added 54 points, or 0.14%. Overnight stateside, the three major averages closed higher. The S&P 500 posted a slim gain on Monday as Treasury yields came off their highs and investors sought to look past Moody's downgrade of the United States' credit rating. The benchmark added 0.09% and closed at 5,963.60, marking its sixth consecutive winning session. The Nasdaq Composite inched up 0.02% to end at 19,215.46. The Dow Jones Industrial Average rose 137.33 points, or 0.32%, and settled at 42,792.07. The 30-stock index was aided by a rebound in UnitedHealth, which saw an 8% jump after a recent bout of hard selling. — CNBC's Lisa Kailai Han and Alex Harring contributed to this report. The S&P 500 closed marginally higher on Monday. The benchmark added 0.09%, finishing at 5,963.60. The Dow Jones Industrial Average rose 137.33 points, or 0.32%, settling at 42,792.07, while the Nasdaq Composite edged up 0.02% and closed at 19,215.46. — Lisa Kailai Han U.S. Secretary of the Treasury Scott Bessent speaks with China's Vice Minister of Finance Liao Min, on the day of a bilateral meeting between the U.S. and China, in Geneva, Switzerland, May 11, 2025. Keystone/eda/martial Trezzini | Via Reuters China said Monday that the U.S. has undermined a preliminary trade deal between the two countries after the U.S. warned industry against using Huawei chips. "China urges the U.S. to immediately correct its wrong practices and stop discriminatory measures against China," a spokesperson for China's Ministry of Commerce told a reporter, according to a Google translation. "If the U.S. insists on its own way and continues to substantially damage China's interests, China will take resolute measures to safeguard its legitimate rights and interests," the spokesperson said. — Kevin Breuninger, Spencer Kimball
CNBC
28-04-2025
- Business
- CNBC
Asia-Pacific markets set for muted open as impact of Trump tariffs on Wall Street's earnings loom
Sunset view of Yarra river and Melbourne skyscrapers business office building with evening skyline in Victoria, Australia. Australia tourism, modern city life, or business finance and economy concept Prasit Photo | Moment | Getty Images Asia-Pacific markets were set for a muted open as investors awaited the extent of the impact of U.S. President Donald Trump's tariffs on corporate earnings and economic data expected from Wall Street this week. Market watchers were also closely monitoring developments surrounding trade deal negotiations between the U.S. and countries in the region. Australia's benchmark S&P/ASX 200 is set to rise, with futures standing at 8,025, up from the index's Monday close of 7,997.10. Futures for Hong Kong's Hang Seng index stood at 21,999, pointing to a stronger open compared to the HSI's last close of 21,971.96. Japanese markets were closed for a public holiday. U.S. futures were little changed, after all three key benchmarks swung between gains and losses in Monday's choppy session. Overnight stateside, the S&P 500 inched slightly higher by 0.06% to close at 5,528.75. This is the broad-based index's fifth straight winning day. Meanwhile, the Nasdaq Composite ticked 0.1% lower and ended at 17,366.13, while the Dow Jones Industrial Average rose 114.09 points, or 0.28%, to settle at 40,227.59. Four of the so-called "Magnificent Seven" companies — Amazon, Apple, Meta Platforms and Microsoft — came under pressure briefly during the session ahead of their quarterly reports. Apple and Meta Platforms ended the session modestly higher, each up about 0.4%. Microsoft slipped 0.2% while Amazon was off 0.7%. — CNBC's Sean Conlon and Pia Singh contributed to this report. Before any trade agreements are reached with India and Japan, "large U.S. companies will likely try to cut idiosyncratic deals with the White House, perpetuating the policy patchwork," holding back investor sentiment and pressuring stock and bond prices, according to a report by Morgan Stanley Wealth Management chief investment officer Lisa Shalett. Treasury Secretary Scott Bessent's recent remarks regarding the likelihood of trade deals and continued independence at the Federal Reserve notwithstanding, "tariff deal" announcements won't energize markets without a "comprehensive rollback," the strategist wrote. "[W]e are unconvinced that relief will immediately follow" reports of breakthroughs, and bilateral agreements with India and Japan "are still months away, with key summits scheduled for June and October, respectively," Morgan Stanley wrote Monday. Just as worrying is the credit market, where "the 10- year U.S. Treasury term premium recently surged to a decade-plus high. Curve steepening amid rising odds of a slowdown indicates investor concerns on two critical fronts: stagflation potential and debt sustainability following the ballyhooed tax bill." The investment bank thinks the U.S. debt ceiling will need to rise by $5 trillion to $10 trillion, the Republican tax cut legislation will increase U.S. debt outstanding by $1 trillion to $4 trillion over the next decade and annual servicing costs on the national debt might double from the most recent $1.1 trillion. — Scott Schnipper Jaque Silva | Nurphoto | Getty Images Megacap technology earnings this week will be pivotal for the market, according to Deutsche Bank. Meta and Microsoft are both set to report earnings on Wednesday. Apple and Amazon are slated to release results on Thursday. "It's fair to say that these Mag-7 earnings will go a long way to dictating the tone of the week," Jim Reid, the bank's global head of macro and thematic research, wrote to clients. — Alex Harring
CNBC
27-04-2025
- Business
- CNBC
Asia-Pacific markets set to rise as investors await further stimulus from China
Sunset view of Yarra river and Melbourne skyscrapers business office building with evening skyline in Victoria, Australia. Australia tourism, modern city life, or business finance and economy concept Prasit Photo | Moment | Getty Images Asia-Pacific markets are set to open higher Monday as investors await further stimulus measures from China as well as developments in trade negotiations between the U.S. and countries in the region. Over the weekend, China's finance minister Lan Fo'an said that the Asian powerhouse will "adopt more proactive macroeconomic policies to promote the realization of the expected growth target for the whole year and continue to bring stability and momentum to the global economy," according to a Google translation of a statement posted on the ministry's website. Chinese authorities, including the People's Bank of China, are slated to hold a press conference later in the day. Investors are also keeping tabs on developments in trade negotiations between the U.S. and countries in the region, after U.S. President Donald Trump indicated that another pause to his "reciprocal tariffs" was unlikely, according to Bloomberg reports. Japan's benchmark Nikkei 225 was set to open higher, with the futures contract in Chicago at 36,040 while its counterpart in Osaka last traded at 36,030, against the index's Friday close of 35,705.74. Futures for Hong Kong's Hang Seng Index stood at 22,055, pointing to a stronger open compared to the HSI's last close of 21,980.74. Meanwhile, futures tied to Australia's S&P/ASX 200 were last seen at 8,078, higher than the index's last close of 7,968.20. — CNBC's Lisa Kailai Han and Sean Conlon contributed to this report.
