Liquidity conditions in Hong Kong resumed tightening this week with a key money-market rate climbing above a level that some analysts say may stifle a nascent economic recovery. The benchmark one-month Hong Kong Interbank Offered Rate — or Hibor — jumped above the closely watched threshold of 3% Wednesday, reaching the highest since May. If…
Heightened tensions between Beijing and Washington have many investors waiting to allocate capital to Chinese assets. In a recent interview at his New York office, Brendan Ahern, chief investment officer at Krane Funds Advisors LLC, explains how geopolitics and shifting market narratives influence inflows. The specialist asset manager, which focuses on China, climate and alternatives,…
Chinese developer Road King Infrastructure Ltd. is suspending all offshore debt payments, a reversal from a couple of months ago when it said it expected to have enough cash to pay interest on borrowings this year. The company said it should explore “a holistic solution” to the situation, according to an exchange filingBloomberg Terminal, a…
Stocks climbed to a record as an in-line US inflation reading eased price concerns and bolstered bets on a Federal Reserve interest-rate cut in September. The MSCI All Country World Index rose 0.2% to an all-time high, tracking Wall Street’s surge to fresh peaks, as money markets nearly priced in a full 25 basis point…
Lai Sun Development Co. is seeking to sell its 50% stake in Hong Kong office building CCB Tower, according to people familiar with the matter, as the builder looks to shed assets. Lai Sun has held talks with potential buyers, including China Construction Bank Corp., which owns the other half of the building in Hong…
Investors expect automakers and luxury goods makers to lead a relief rally in European stocks when the market reopens on Monday, after the US and European Union agreed to a trade deal. The pact, which will see the bloc face 15% tariffs on most of its exports including autos, was announced Sunday by President Donald…
The yen was slightly stronger against the dollar as investors digested the impact of Japan’s ruling coalition losing its majority in the upper house election. Japanese stock futures inched lower. Japan’s currency, which had declined in the two weeks leading up to Sunday’s vote, held an small advance of 0.2% to trade at 148.52 versus…
Asian equity-index futures struggled for direction Thursday after the dollar weakened and US stocks rose in volatile trading after President Donald Trump played down the prospect he may soon fire Jerome Powell. Trump said he is “not planning on doing anything” to remove Powell, after a White House official said the president was likely to…
Brazil spent months flying under the radar as Donald Trump upended global trade. Now that it’s in the spotlight, President Luiz Inacio Lula da Silva may stand to benefit from the attention. Hours after the US president threatened to hit Brazil with 50% tariffs, the leader known universally as Lula announced that, rather than rush…
China’s factory activity improved for a second month but remained in contraction, as trade rebounds after the ceasefire in the tariff war with the US while weak domestic demand weighs on the economy. The official manufacturing purchasing managers’ index was 49.7 in June, versus 49.5 in the previous month, slightly exceeding the median estimate in…