Edition:
International

Shruti Sonal

REFILE-Ex-dividend trading, global selling trip Australia shares

Mar 04 2021

March 4 Australian shares fell on Thursday as renewed worries about rising U.S. bond yields soured risk sentiment globally and a slew of local index heavyweights including Rio Tinto traded ex-dividend.

Australia shares climb as strong GDP growth cements recovery hopes

Mar 03 2021

March 3 Australian shares climbed on Wednesday after a much faster-than-expected economic growth in the final quarter of 2020 cemented hopes of a stronger recovery this year.

Exxon to cut 7% of Singapore workforce amid 'unprecedented market conditions'

Mar 02 2021

SINGAPORE Exxon Mobil Corp plans to cut its workforce in Singapore, home to its largest oil refining and petrochemical complex, by about 7% amid the "unprecedented market conditions" resulting from the COVID-19 pandemic, it said on Wednesday.

Australia shares fall in muted response to c.bank stance; weak commodities weigh

Mar 02 2021

March 2 Australian shares ended lower on Tuesday, as the market appeared to show muted response towards the central bank's expected decision to stand pat on interest rates, while weak commodity prices also pressured miners and energy stocks.

Australian shares jump most in nearly 2 months as upbeat data boosts recovery hopes

Mar 01 2021

* Auckland enters fresh seven-day lockdown (Updates to close)

Analysis: Aussie cannabis firms go capital light as they roll into Europe

Feb 23 2021

A handful of small, young Australian firms are taking a chance on Europe in spite of the region's diverse markets, hopeful that a capital-light investment strategy will diminish their risks.

UPDATE 3-Australia's SEEK to split, co-founder Bassat to run investment business

Feb 23 2021

* Narev to take CEO role from co-founder Bassat (Recasts with details on shake-up, background)

EMERGING MARKETS-Most emerging Asian currencies gain; equities muted in holiday lull

Feb 11 2021

* Long bets cut on Asian FX on dollar resilience- poll * Malaysia's economy posts biggest annual decline since 1998 crisis * Philippine c.bank keeps rates steady as expected * Most markets closed on Friday for Lunar New Year By Shruti Sonal Feb 11 Most emerging Asian currencies had marginal gains on Thursday as the dollar slipped to a two-week low following soft U.S. inflation data, while equities were muted due to light trading as the Lunar New Year holidays began. The Singapore dollar, Indian rupee and the Indonesian rupiah all rose 0.1%, even though volumes remained thin. The dollar was pinned near two-week lows, with softer-than-expected U.S. inflation and the Federal Reserve vowing to keep interest rates low weighing on the greenback. News that India and China have agreed to pull back troops from a bitterly contested lake area high in the western Himalayas after a months-long standoff also aided the rupee, Rahul Gupta, Head Of Research-Currency at Emkay Global Financial Services, said. Philippine peso was largely unchanged after the central bank held rates in a widely expected move, adding that current monetary policy settings were appropriate as inflation is still expected to stay firmly within target. Meanwhile, a Reuters poll showed long positions on most Asian currencies were scaled back as investors grappled with unexpected resilience in the U.S. dollar at the start of the year. On the equities front, investors treaded cautiously, with China, Japan, South Korea and Taiwan all on holiday, while Malaysia and Singapore had shortened trading hours. Most markets in the region will be closed on Friday. Broader Asian shares rested at record highs as investors digested recent meaty gains and hoped for more global stimulus, with MSCI's broadest index of Asia-Pacific shares outside Japan up 0.1%. Malaysian benchmark pared gains and closed 0.2% higher, having gained as much as 0.4%, as its economy fell at a faster-than-expected pace in the fourth quarter and posted its worst annual performance since the 1998 Asian Financial Crisis. Cushioning the blow, Bank Negara Malaysia governor Nor Shamsiah Mohd Yunus said growth will rebound going into 2021. Analysts too mirrored the expectation for a recovery. "Despite the lingering domestic challenges and uneven recovery, we expect the growth trajectory to improve from 2Q21 onwards aided by a low base effect, further improvement in the global economy, and gradual normalization in domestic activity", said Julia Goh, a senior Malaysia economist for UOB. "Malaysia's vaccination program that is slated to begin in early March, as well as ongoing fiscal and monetary support will help to lift sentiment and growth". Highlights: ** Singapore's 10-year benchmark yield is down 2.6 basis points at 1.023% ** Top losers on Thailand's SETI include Union Plastic PCL; TU Dome Residential Complex Leasehold Property Fund ; AJ Advance Technology PCL down -7.14% at 0.13 baht Asia stock indexes and currencies at 0743 GMT COUNTRY FX RIC FX FX YTD INDEX STOCKS STOCKS DAILY % DAILY YTD % % % Japan +0.02 -1.25 <.N22 0 7.72 5> China <CNY=CFX 0 +1.09 <.SSE 0 5.24 S> C> India +0.09 +0.41 <.NSE 0.06 8.11 I> Indonesia +0.11 +0.54 <.JKS 0.11 3.84 E> Malaysia +0.04 -0.51 <.KLS 0.16 -1.71 E> Philippines -0.01 -0.06 <.PSI -1.29 -2.08 > S.Korea <KRW=KFT 0 -1.88 <.KS1 0 7.90 C> 1> Singapore +0.15 -0.26 <.STI -0.01 2.87 > Taiwan +0.00 +0.33 <.TWI 0 7.26 I> Thailand +0.00 +0.20 <.SET -0.62 4.01 I> (Reporting by Shruti Sonal in Bengaluru; Additional reporting by Nivedita Bhattacharjee; Editing by Krishna Chandra Eluri)

EMERGING MARKETS-Most emerging Asian currencies gain; equities muted in holiday lull

Feb 11 2021

* Long bets cut on Asian FX on dollar resilience- poll * Malaysia's economy posts biggest annual decline since 1998 crisis * Philippine c.bank keeps rates steady as expected * Most markets closed on Friday for Lunar New Year By Shruti Sonal Feb 11 Most emerging Asian currencies had marginal gains on Thursday as the dollar slipped to a two-week low following soft U.S. inflation data, while equities were muted due to light trading as the Lunar New Year holidays began. The Singapore dollar, Indian rupee and the Indonesian rupiah all rose 0.1%, even though volumes remained thin. The dollar was pinned near two-week lows, with softer-than-expected U.S. inflation and the Federal Reserve vowing to keep interest rates low weighing on the greenback. News that India and China have agreed to pull back troops from a bitterly contested lake area high in the western Himalayas after a months-long standoff also aided the rupee, Rahul Gupta, Head Of Research-Currency at Emkay Global Financial Services, said. Philippine peso was largely unchanged after the central bank held rates in a widely expected move, adding that current monetary policy settings were appropriate as inflation is still expected to stay firmly within target. Meanwhile, a Reuters poll showed long positions on most Asian currencies were scaled back as investors grappled with unexpected resilience in the U.S. dollar at the start of the year. On the equities front, investors treaded cautiously, with China, Japan, South Korea and Taiwan all on holiday, while Malaysia and Singapore had shortened trading hours. Most markets in the region will be closed on Friday. Broader Asian shares rested at record highs as investors digested recent meaty gains and hoped for more global stimulus, with MSCI's broadest index of Asia-Pacific shares outside Japan up 0.1%. Malaysian benchmark pared gains and closed 0.2% higher, having gained as much as 0.4%, as its economy fell at a faster-than-expected pace in the fourth quarter and posted its worst annual performance since the 1998 Asian Financial Crisis. Cushioning the blow, Bank Negara Malaysia governor Nor Shamsiah Mohd Yunus said growth will rebound going into 2021. Analysts too mirrored the expectation for a recovery. "Despite the lingering domestic challenges and uneven recovery, we expect the growth trajectory to improve from 2Q21 onwards aided by a low base effect, further improvement in the global economy, and gradual normalization in domestic activity", said Julia Goh, a senior Malaysia economist for UOB. "Malaysia's vaccination program that is slated to begin in early March, as well as ongoing fiscal and monetary support will help to lift sentiment and growth". Highlights: ** Singapore's 10-year benchmark yield is down 2.6 basis points at 1.023% ** Top losers on Thailand's SETI include Union Plastic PCL; TU Dome Residential Complex Leasehold Property Fund ; AJ Advance Technology PCL down -7.14% at 0.13 baht Asia stock indexes and currencies at 0743 GMT COUNTRY FX RIC FX FX YTD INDEX STOCKS STOCKS DAILY % DAILY YTD % % % Japan +0.02 -1.25 <.N22 0 7.72 5> China <CNY=CFX 0 +1.09 <.SSE 0 5.24 S> C> India +0.09 +0.41 <.NSE 0.06 8.11 I> Indonesia +0.11 +0.54 <.JKS 0.11 3.84 E> Malaysia +0.04 -0.51 <.KLS 0.16 -1.71 E> Philippines -0.01 -0.06 <.PSI -1.29 -2.08 > S.Korea <KRW=KFT 0 -1.88 <.KS1 0 7.90 C> 1> Singapore +0.15 -0.26 <.STI -0.01 2.87 > Taiwan +0.00 +0.33 <.TWI 0 7.26 I> Thailand +0.00 +0.20 <.SET -0.62 4.01 I> (Reporting by Shruti Sonal in Bengaluru; Additional reporting by Nivedita Bhattacharjee; Editing by Krishna Chandra Eluri)

EMERGING MARKETS-Malaysian shares pare gains on dour GDP data; most others muted in holiday trade

Feb 11 2021

* Malaysia's economy posts biggest annual decline since 1998 crisis * China, Japan, South Korea and Taiwan markets closed * Philippine c.bank meeting due later in the day By Shruti Sonal Feb 11 Malaysia shares pared gains on Thursday as its economy fell at a faster-than-expected pace in the fourth quarter, while other emerging Asian markets were muted in thin trade, with multiple countries already shut for the Lunar New Year holidays. The Kuala Lumpur benchmark, which had climbed as much as 0.4% earlier in the session, was trading flat by 0421 GMT. Malaysia's economy contracted 3.4% year-on-year in the December quarter, falling for a third straight quarter and faster than the 3.1% decline forecast in a Reuters poll. Strict coronavirus-related restrictions hurt domestic consumption and slowed the pace of recovery, the central bank said, pushing the economy to its the worst annual performance since the 1998 during the Asian Financial Crisis. However, growth will rebound going into 2021, supported by a pickup in global demand and normalisation in domestic economic activities, said Bank Negara Malaysia governor Nor Shamsiah Mohd Yunus. Philippine shares shed 0.8%, ahead of the central bank's monetary policy meeting later in the day, at which it is widely expected to hold rates. "We expect BSP to keep its policy rate at 2.0% to provide further monetary support for the time being but we do not discount a possible reversal should inflation remain elevated over the coming months," ING analysts said. Elsewhere, stocks were mixed as investors treaded cautiously, with China, Japan, South Korea and Taiwan all on holiday. Most other markets in the region will be closed on Friday. Thailand fell 0.6%, while India and Indonesia climbed 0.3% and 0.1% respectively. Foreign investment applications in Thailand dropped 54% to 213 billion baht ($7.12 billion) last year as companies were deterred by the COVID-19 pandemic, while the outlook for 2021 remains uncertain, an investment agency said on Wednesday. Broader Asian shares rested at record highs as investors digested recent meaty gains and hoped for more global stimulus, with MSCI's broadest index of Asia-Pacific shares outside Japan up 0.1%. Moves in regional currencies were range-bound even as the dollar was pinned near two-week lows, with softer-than-expected U.S. inflation and another Federal Reserve promise to keep interest rates low weighing the greenback. "In our view, the Fed stance is still extremely dovish, and this fundamentally holds back the bullish-USD story", OCBC Treasury Research analysts wrote. Eyes were also on U.S. President Joe Biden as he spoke to his Chinese counterpart Xi Jinping on Wednesday, his first direct contact with the leader since winning the November U.S. presidential election and taking office last month. Highlights: ** Singapore's 10-year benchmark yield is down 3.1 basis points at 1.018% ** Top losers on Thailand's SETI include Union Plastic PCL; TU Dome Residential Complex Leasehold Property Fund ; TRC Construction PCL Asia stock indexes and currencies at 0452 GMT COUNTRY FX RIC FX FX INDEX STOCKS STOCKS DAILY YTD % DAILY % YTD % % Japan -0.02 -1.29 0 7.72 China <CNY=CFX 0 +1.09 0 5.24 S> India +0.06 +0.38 0.29 8.36 Indonesia -0.04 +0.39 0.13 3.86 Malaysia +0.00 -0.54 0.16 -1.71 Philippin +0.02 -0.02 -0.78 -1.58 es S.Korea <KRW=KFT 0 -1.88 0 7.90 C> Singapore +0.08 -0.34 -0.01 2.87 Taiwan +0.00 +0.33 0 7.26 Thailand -0.07 +0.13 -0.64 3.99 (Editing by Gerry Doyle)

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