China may have ‘passed the point of no return’ with soaring rates of Covid infection

Macquarie’s chief China economist, Larry Hu, said surging Covid infections across mainland China was making it difficult for the government to achieve zero Covid without returning to a harsh lockdown. In the past few days, the number of daily cases has risen to around 28,000 or more — close to levels seen in April during … Read more

Asia-Pacific markets trade less; China keeps the LPR steady

Malaysia is seeing a sell-off in “sin” stocks after the right-wing party won more seats Stocks related to gambling and alcohol consumption sold off in Malaysia on Monday after an Islamist party won more seats than it held before Saturday’s election. In the past, Parti Islam Se-Malaysia, or PAS, has made it clear that it … Read more

Hong Kong stocks rose 3% as technology stocks rose; Chinese activity data is disappointing

One expert says fertilizer is key to getting the Black Sea grain deal started again A greater focus on fertilizer will help lower the global cost of food and secure an extension of the Black Sea Agreement, said Michael Vatikiotis, senior advisor at the Center for Humanitarian Dialogue. He explained that 70% of fertilizer production … Read more

Hong Kong shares rise in mixed Asian session and SoftBank shares fall 14%

Indonesian minister said foreign tourist arrivals will not return to pre-Covid levels until 2025 Foreign tourist arrivals in Indonesia will not return to pre-Covid levels until 2025, according to the country’s Ministry of Tourism. Sandiaga Ono, the country’s Minister of Tourism and Creative Economy, said the number of foreign tourist arrivals is currently at 25% … Read more

FTX users may cash out a bankrupt cryptocurrency exchange through a loophole in the Bahamas

Sam Bankman-Fried, CEO of cryptocurrency exchange FTX, at the Bitcoin 2021 conference in Miami, Florida, on June 5, 2021. Eva Marie Ozkategi | Bloomberg | Getty Images It appears that some FTX users have found a way to transfer funds from the exchange through a backdoor in the Bahamas. An analysis by data firm Argus … Read more

Be prepared to pounce when the market is oversold

CNBC’s Jim Cramer warned investors Friday not to let their guard down when it comes to their portfolios and prepare to cash in on good deals. “Ultimately, you’ll only regret if you don’t buy anything in the heavy selling,” Kramer said. “When the market eventually sells enough, though, that’s when you need to pounce.” Stocks … Read more

The financial rules will be updated and the markets will be monitored

The eurozone is set to discuss changing its fiscal rules – a task that could have market repercussions. Bloomberg | Bloomberg | Getty Images The eurozone will soon reveal changes to its fiscal rules – a move that could have major repercussions on government borrowing costs and the region’s bond markets. The European Commission, the … Read more

The two words investors want to hear from Wednesday’s Federal Reserve meeting

As markets look for signs that the Federal Reserve is moving away from its rapid pace of rate hikes, two words from this week’s meeting could be crucial. Investors will be looking to see if the central bank plans to take a “step-down” on its monetary policy course, a term recently used by San Francisco … Read more

Oil CEOs warn that the coming winter will be even more difficult

PCK Schwedt oil refinery in Schwedt, Germany, Monday, May 9, 2022. Christian Boxey | Bloomberg | Getty Images ABU DHABI, United Arab Emirates – Politicians and governments around the world are bracing for potential civil unrest as many countries struggle with rising energy costs and rising inflation. The global economy is facing an onslaught from … Read more

Stocks rally ahead of RBA decision; Caixin PMI less than 50

Oil prices rise 1% as dollar weakens Crude oil futures rose in the afternoon in Asia as the dollar faltered. Brent crude futures contracts It rose 1.23% at $93.95 a barrel, while US crude futures contracts Gain 1.12% to $87.50 a barrel. The dollar index – which measures the greenback against a basket of six … Read more