Economy Financial News

The tagline from Wall Street was that 2023 was the year of the bond. Instead, fund managers are coming to terms with one of the toughest years ever.

By Steven Scheer

By Elizabeth Howcroft

unbuilt homes to local residents. China’s largest wealth-management firms have started to default on payments owed to investors. Given that these types of hidden debts have so far attracted little attention, Jinzhou’s troubles ought to come as a warning.

European shares climbed on Monday, with miners in the lead on optimism around demand from top consumer China, although trading was cautious as investors weighed prospects of an escalation in the Middle East conflict. The STOXX 600 was up 0.4% by 0707 GMT. The mining index rose 1.3% as prices of base metals were lifted by hopes of stronger demand from China after data last week signalled some signs of stabilisation in the world's second-largest economy. Also boosting the index was a nearly 4% gain in shares of SSAB after JP Morgan upgraded the Swedish steel company to «overweight» from «neutral». Global risk sentiment was still on shaky grounds over concerns that the Israel-Hamas conflict would spill over to the broader region, gaining steam after Iran warned Israel of escalation. Among other single stocks, Frankfurt-listed shares of BioNTech fell nearly 5% after partner Pfizer on Friday slashed its full-year revenue forecast on lower sales of its COVID-19 vaccine and treatment.

By Rae Wee

LONDON — The U.K.'s main opposition Labour Party last week set out the economic platform it hopes will propel it to power at next year's general election, and the transatlantic parallels were clear.

He Jinbi, head of Maike Metal International Group, China’s top copper importer, has not been seen in public recently, and is believed to have been detained by Chinese authorities. By the standards of disappearances in China this year, He’s case seems relatively minor. Qin Yaqing appointed as China’s foreign minister in December last year disappeared in July, while defence minister Gen.

By Philip Blenkinsop

Investing.com-- Most Asian stocks retreated on Monday as concerns over the Israel-Hamas war kept risk sentiment weak, with Japan’s Nikkei index leading losses amid jitters before key inflation data this week. 

By Andrea Shalal and David Lawder

By Yuka Obayashi and Emily Chow

By Valentina Za, Giuseppe Fonte and Elisa Anzolin

Japan's former top currency diplomat, recalls how Chinese policymakers eagerly studied ways to avert a Japan-style burst of an asset bubble that led to prolonged deflation and economic stagnation — until around 2015. «Then they stopped. In the past seven to eight years, they seem to be ignoring everything they learned,» said Watanabe, who retains close ties with incumbent policymakers.

₹16,000 crores through regular systematic investment plan (SIP) investments. Statistics also underscore more investors taking an active interest in thematic or sectoral funds owing to their competitive returns. Considering how investing in these funds involves a lot of risk, numbers suggest the growing risk-averse nature of investors amidst growing optimism regarding the performance of the Indian stock market.

Sunil Subramaniam, MD & CEO, Sundaram Mutual, says “the infra play has got a little stretch in valuation. It is time for consumption to pick up. Because so far, whatever consumption has picked up has been premium consumption – be it premium housing, cars with prices over Rs 7 lakh. I think the mass consumption is yet to pick up. Come election year with liquidity floating in the market, this festival season numbers will also come in. It is a delayed festival season with Diwali coming only mid-November.” Where are your investments, apart from Sundaram Mutual Funds? Nothing apart from Sundaram Mutual Funds. Everything is in Sundaram.

financial markets, as investors wait to see if the conflict draws in other countries with the potential to drive up oil prices further and deal a fresh blow to the world economy. Israel's Prime Minister Benjamin Netanyahu vowed on Sunday to «demolish Hamas» as his military prepared ground operations in Gaza to root out the militant group, whose deadly rampage through Israeli border towns stunned the nation. S&P 500 E-Mini futures edged up after they opened on Sunday, last up 0.2%, while oil prices were virtually unchanged. Trading had been choppy in the last week as Wall Street worried about whether other countries such as Iran would get involved, but investors were directing most of their attention to interest rates and issues related to the U.S. economy. «As long as the war remains relatively localized, U.S.

China's central bank ramped up liquidity support to the banking system as it rolled over medium-term policy loans on Monday, but kept the interest rate unchanged as expected. The People's Bank of China (PBOC) is walking a tight rope between keeping liquidity ample to aid a struggling economy and stabilising the yuan amid expectations of «higher for longer» U.S. rates. The PBOC said in a statement it conducted medium-term lending facility (MLF) operations worth 789 billion yuan ($107.96 billion) to keep liquidity in the banking system adequate.

Daniel Noboa is Ecuador's next president, declaring victory on Sunday as the country's national electoral council said results pointed to an «irreversible» outcome and his rival conceded. Noboa was tallying more than 52% of the vote, while his leftist adversary Luisa Gonzalez had about 48%, with more than 90% of ballot boxes counted. Thirty five-year-old Noboa, a surprise qualifier for the run-off in the early election, has pledged to improve the economy and create jobs for young people, as well as to house dangerous criminals on prison ships. «Tomorrow we start work for this new Ecuador, we start working to rebuild a country seriously battered by violence, by corruption and by hate,» Noboa told supporters in the seaside town of Olon after clinching victory in a campaign marred by the murder of anti-corruption candidate Fernando Villavicencio. «From tomorrow Daniel Noboa starts work as your new president,» he added. His victory fulfills a long-held family ambition — he grew up accompanying his banana baron father Alvaro during the latter's multiple failed attempts to become president. Gonzalez congratulated Noboa on his victory. «Daniel Noboa, our profound congratulations, because this is democracy,» Gonzalez told supporters in Quito, calling on Noboa to fulfill his promises to students and the elderly. Noboa will face the significant challenge of righting an economy — which has struggled since the coronavirus pandemic and motivated many thousands of Ecuadoreans to migrate — and sharply rising crime, including increases in murders, robberies and prison riots. Noboa will have just 14 months to govern, serving a truncated term from December this year until May 2025. Re-election is generally not allowed in

Gold prices slid on Monday after hitting a near one-month high earlier, as escalating fears of the conflict between Israel and Palestinian militant group Hamas boosted safe-haven bullion more than 3% higher in the last session. FUNDAMENTALS * Spot gold fell 0.5% to $1,921.69 per ounce by 0102 GMT and U.S. gold futures dropped 0.4% to $1,934.40. * Gold, which is seen as a safe investment during uncertain times, hit its highest since Sept.

Oil prices fell on Monday, partly reversing Friday's rally as investors wait to see if the Israel-Hamas conflict draws in other countries, which could drive up prices and deal a fresh blow to the global economy. Brent futures slid 34 cents, or 0.4%, to $90.55 per barrel and U.S.