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  • Article / 14 minutes ago

    Australian Market Wrap: Utilities lead gains; AUD loses momentum

    Trading Desk / Saxo Capital Markets
    Australia
    Australian Market Wrap: Utilities lead gains; AUD loses momentum
    After a shaky start, the markets powered ahead with utilities leading the charge. The S&P/ASX200 index gained 0.69% to 5919.9. AGL Energy was the strongest performer. The big four banks also contributed to the heavy lifting, with the financials index lifting 0.59%. Standout winners included grocery chain Woolworths and diversified retailer Wesfarmers.
    Read the article
  • Editor’s Picks / 1 hour ago

    Year of the goat looks bullish for Asian equities

    Cuffelinks.com.au
    Since 1973, the Year of the Goat has generated the highest average returns of the 12 zodiac symbols, averaging 45.3% a year. Leaving superstition aside, there are fundamental reasons why Asian equity markets can make like a bull this year. Notwithstanding the risk of war – currency, physical or in cyberspace – Asian equity fundamentals look attractive. Earnings expectations for Asia excluding Japan are the most realistic they have been in years. Consensus is forecasting EPS growth of 9.5%. Another positive is that Asian governments are implementing reforms that are are critical to overcoming structural weaknesses. All in all, there is a strong case for being a bull in the Year of the Goat.
    Read article on Cuffelinks.com.au
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  • Editor’s Picks / 2 hours ago

    Branchless banking program launched in Indonesia

    The Jakarta Post
    An initiative designed to help boost access to banking services for millions of people in rural areas has been launched by Indonesia's Financial Services Authority and four of the nation’s largest banks, writes Grace D. Amianti for The Jakarta Post. The Laku Pandai, popularly known as branchless banking, program promotes banking and financial services for all through the help of other parties, such as individual and institutional agents, supported by mobile phones and IT facilities. State-owned Bank Mandiri and Bank Rakyat Indonesia (BRI) as well as private lenders Bank Central Asia (BCA) and Bank Tabungan Pensiunan Nasional (BTPN) — have already obtained permits from the OJK to run the program.
    Read article on The Jakarta Post
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  • Editor’s Picks / 2 hours ago

    Hyundai Steel considers merger with Hyundai Hysco

    Reuters
    South Korean steel producer Hyundai Steel said on Friday that it is considering a merger with its steelmaking affiliate Hyundai Hysco, but added nothing has been decided, writes Reuters. Shares of Hyundai Hysco surged over 6% after media reports said it may be absorbed into Hyundai Steel, a sister company of automakers Hyundai Motor and Kia Motors.
    Read article on Reuters
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  • Article / 3 hours ago

    Yingli results disappoint but sunnier outlook expected

    Portfolio Manager / Alcuin Asset Management
    China
    Yingli results disappoint but sunnier outlook expected
    Chinese solar energy firm Yingli Green Energy announced disappointing fourth-quarter earnings, which saw both revenues and EPADS fall short of analysts’ consensus. However, we are seeing growing exposure to the domestic Chinese market as favourable government policy will likely be a major tailwind for the industry.
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  • Article / 6 hours ago

    Today's Trade: Stocks down across the board

    Trading Desk / Saxo Capital Markets
    Australia
    Today's Trade: Stocks down across the board
    Stocks were down across the board. The Dow Jones and S&P 500 both fell 0.2%, the Nasdaq down 0.3%. Meanwhile, Stoxx Europe 600 was 0.9% lower and Germany's DAX lost 0.2%. US oil futures rose 4.5% to $51.43 a barrel, while gold futures added 0.7% to $1,205. The S&P/ASX 200 Index futures contract was unchanged at 5,885, and the NSW election could influence AUDUSD, as a Labor party win could add more volatility.
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  • Calendar event / Yesterday at 23:50 GMT

    JP Preliminary Retail Sales

    forecast
    actual
    Low Overall Retail Sales (on year)
    -1.8%
    Low Large-Scale Retailers' Sales (on year)
    +1.3%
  • Calendar event / Yesterday at 23:30 GMT

    JP CPI (Tokyo), CPI ex-Food (Tokyo)

    forecast
    actual
    Med Tokyo Core CPI (on year)
    +2.2%
    +2.2%
    Med Tokyo Overall CPI (on year)
    +2.3%
    Med Tokyo Overall CPI (on month)
    +0.4%
  • Calendar event / Yesterday at 23:30 GMT
    High Japan Overall CPI (on year)
    +2.2%
    Med Japan Core CPI (on year)
    +2.1%
    +2%
    Med Japan Overall CPI (on month)
    -0.2%
  • Calendar event / Yesterday at 23:30 GMT

    JP Household Spending

    forecast
    actual
    Med All Household Spending (on year)
    -3.1%
    -2.9%
    Med Wage-Earner Household Spend YoY % Chg
    -3.1%
    -3.6%
    Med Adjusted Propensity to Consume
    71.6
    Med Propensity to Consume YoY %Pts Chg
    -2.3%