Japan CPI inflation, China loan prime rate, currencies

Japan CPI inflation, China loan prime rate, currencies

Japan CPI inflation, China loan prime rate, currencies

Technically, casino shares in Hong Kong give a broader index

Australia’s central bank says the case for slower rate hikes is strengthening

Reserve Bank of Australia (RBA) board members “saw the case for a slower rise in interest rates as increasingly strong,” according to the minutes of their September 6 meeting, where it raised interest rates by 50 basis points to 2.25%.

“The board expects to raise interest rates further in the months ahead, but it is not on a pre-determined path given the uncertainty surrounding the outlook for inflation and growth,” said the minutes published on Tuesday.

It added that medium-term inflation expectations remained “well anchored.”

Future rate hikes will be guided by data and the outlook for inflation and labor markets, the RBA said.

— Abigail Ng

CNBC Pro: Goldman says demand for copper is on the rise. Here are the stocks it expects to benefit from

A copper deficit could be on the horizon, with demand expected to rise on pressure towards net zero – and some metal stocks could shine in this scenario, according to Goldman Sachs.

CNBC Pro subscribers can read more here.

— Weizhen Tan

China keeps key lending rates unchanged

The People’s Bank of China kept its one-year and five-year prime rates (LPR) unchanged, in line with predictions in a Reuters poll.

The prime one-year rate remains at 3.65%, and the five-year rate, which is closely related to mortgages, is 4.3%. China cut both of those rates last month.

— Abigail Ng

CNBC Pro: Fund Manager Says Bear Market Will Be ‘Disgusting’

Fund manager Cole Smead believes the stock market is still at the beginning of a bear market – and warns that it will not be a “garden variety”.

But he doesn’t lose sleep over it. Here’s why:

Pro subscribers can read more here.

— Zavier Ong

Japan’s core inflation accelerates in August

Core consumer prices in Japan rose 2.8% in August from a year ago, government data showed.

It is the fastest growth in almost eight years, and the fifth consecutive month in which inflation has exceeded the central bank’s target of 2%.

Analysts polled by Reuters had forecast a 2.7% increase, and consumer prices rose 2.4% in July.

The Japanese yen strengthened slightly to 142.96 per dollar.

— Abigail Ng

Stocks end Monday’s volatile session higher

Stocks faltered on Monday, but ended the session in positive territory as a big Federal Reserve week began.

The Dow Jones Industrial Average closed 197.26 points higher, or 0.64%, to settle at 31,019.68. The S&P 500 jumped 0.69% to 3,899.89 and the Nasdaq Composite rose 0.76% to 11,535.02.

– Samantha Subin

The 10-year Treasury yield jumps above 3.5%, reaching its highest level since 2011

The benchmark 10-year Treasury yield rose to 3.5% on Monday morning, hitting its highest level since 2011 as investors brace for a higher-for-longer period of interest rates amid the Federal Reserve’s fight against inflation.

Treasury yields rose above the board last week after the consumer price index in August showed a surprise rise in prices. However, the 10-year largely held near June highs of 3.495% before taking another leg higher on Monday.

The 10-year last traded at a yield of 3.506%, up nearly 6 basis points. Interest rates move opposite to the price, and one basis point is equal to 0.01%.

-Jesse Pound

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