Weekly Roundup: Asian Markets Fall On Weak China Data And Spain?s Banking Woes
Asian markets declined this week due to increasing concerns about China's economic slowdown and heightened Spanish banking sector woes.
Shares of Gold Miners Shoot Higher as Metal Regains Safe-Haven Status
Shares of big gold mining companies rocketed higher Friday as the yellow metal regained its status as a safe-haven amid growing fear that the American economy may not be able to offset the combined drag of the euro zone crisis and sharply decelerating growth in China and India.
How Low Can They Go? Forecaster Sees T-note Yield Falling To 1.32%
Following a high-volatility period over that past few days that has seen the political situation in Greece worsen, highly disappointing economic data prints in the U.S. and China and -- most prominently -- a surprise banking crisis in Spain, U.S. Treasuries have been hitting historically low yields on a daily basis. Lawrence Dyer, a New York-based rates strategist for British giant bank HSBC says should soon fall to 1.32 percent or lower.
China Manufacturing Growth Slows Down In May
China's manufacturing activity grew at a slower pace in May compared to the previous month, increasing concerns over a slowdown in the economic growth of the country.
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China?s Manufacturing Activity Falls: HSBC PMI
China's manufacturing activity fell in May compared to April and continued to contract for the seventh straight month, according to the preliminary HSBC Flash Purchasing Managers Index (PMI) released Thursday.
Existing Home Sales, Durable Goods, China PMI: Economic Events For May 21 - 25
This week's economic calendar is relatively light in the U.S. with the releases of existing home sales, durable goods orders, and the University of Michigan consumer confidence survey. Attention will likely focus on data out of Europe. Euro zone PMIs, Germany IFO survey, and first-quarter gross domestic product data for the U.K. will be released.
Asian Stocks Rise After China Pledges To Boost Growth
Asian stock markets rebounded Monday after suffering heavy losses last week amid ongoing worries over the euro zone crisis.
Asian Shares Slump Amid Euro Zone Woes; Nikkei Plunges 2.99 pct
Asian stock markets slumped Friday as renewed concerns over euro zone crisis and lackluster economic data from US dented investor sentiment.
29 Largest Banks May Need $566 Billion More For Basel III: Fitch
The world's 29 largest banks will need an extra $566 billion to comply with Basel III capital rules by the end of 2018, which could dampen their ability to increase dividends and buy back shares, according to Fitch Ratings.
European Stocks Plunge On Expectations Greece To Leave Euro Zone
European stocks plunged Monday as fears that Greece will leave the euro zone turned into a virtual consensus about the debt-choked nation's departure. The downdraft also hammered U.S. stocks, which opened sharply lower.
China's Weak April Economic Reports Lift Odds Of Monetary Easing
Just about everything in China's economy seems to have gone backwards in April and the raft of weaker data raised fears that the world's second largest economy has yet to bottom out.
China?s April Trade Surplus Widens On Weak Imports
China reported Thursday a rise in trade surplus to $18.4 billion in April from $5.35 billion in March amid continued weakness in exports caused by economic crises in overseas markets.
Asian Markets Slump On Europe Election Results
Asian stock markets declined Monday after election results from Greece and France fueled concerns about Europe reviving the debt crisis.
India?s Central Bank Intervenes To Protect Weak Rupee; Trade Deficit And Tax Law Impacting Foreign Investment
The sharp decline in the Indian rupee coupled with strong demand for the dollar forced the Reserve Bank of India (RBI) to intervene and announce measures to ease the pressure on of the rupee.
Chinese Manufacturing Weaker in April: Markit PMI Report
The Chinese manufacturing sector continued to weaken in April, although its rate of deterioration slowed from March, as demand remained low and new business declined, according to HSBC and Martkit's China Manufacturing PMI survey Wednesday.
India?s Manufacturing Activity Improved In April: HSBC PMI
India's manufacturing activity improved in April compared to previous month, according to the HSBC flash Purchasing Managers Index (PMI) released Wednesday.
China Manufacturing Activity Grows In April But Contraction Persists: HSBC PMI
China?s manufacturing activity improved in April compared to March but continued to contract for the sixth straight month, according to the final HSBC flash Purchasing Managers Index (PMI) released Wednesday.
Gold Prices Climb To 2-Week High
Gold touched two-week highs on Tuesday, set for its longest stretch of daily gains in eight months, after a rally in the dollar fizzled out as investor concern escalated over the resilience of the U.S. and euro zone economies.
China?s Manufacturing Activity Continues To Grow
China?s manufacturing activity improved in April for the fifth straight month as economic conditions continued to strengthen, according to readings from a key gauge released Tuesday.
Barrick Gold Sells Highland Stake For $130 Million
Barrick Gold Corp. (NYSE: ABX), the largest gold miner, said Thursday it sold its 20.4 percent stake in Russian company Highland Gold Mining Ltd. (London: HGM) for $130 million as it seeks to unload non-core business.
HSBC To Sack 2,200 Employees
HSBC Holdings PLC (NYSE: HBC) plans to cut more than 2,200 jobs in the United Kingdom, where it's most profitable, in a bid to lower costs and boost profit margins, according to published reports.
Palladium Bounces On Demand For Industrial Metals Exposure
Palladium prices are bouncing back from a big decline that started in February in what could be a sign of rising investor confidence in the U.S. recovery, thanks to rising auto sales, and concerns over Russian supplies.
FOMC Preview: Policy To Stay Put At April Meeting
Federal Reserve officials are expected to be in wait-and-see mode on extra stimulus at the April Federal Open Market Committee meeting this week, as little has changed since the March meeting to warrant policy changes, economists say.
China Manufacturing Shrinks In April, HSBC PMI Shows
China factory activates slumped for the sixth consecutive month, albeit at a slower pace, data released by HSBC showed.
Asian Stocks Fall On China PMI, Europe Uncertainty
Asian stock markets ended lower on Monday as manufacturing data from China failed to ease concerns over a slowdown in the world’s second biggest economy.
US Futures Plunge On Europe Fears, China Data
Futures on major US indices point to a lower opening Monday as political uncertainty in France and the Netherlands, as well as mixed data from China, weighed on the sentiment.
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