Posts by Yurie Miyazawa
Bets against Yen crater as volatility scares crowded carry trade
WILD swings in the Japanese yen and a vicious market selloff led speculative traders to pull back on bets for further weakness in the currency, according to the latest Commodity Futures Trading Commission (CFTC) data. Hedge funds cut their wagers against the yen by 49,336 contracts to 20,243 in the week ended Aug 6, CFTC…
Read MoreEurope: Shares jump, weather turbulence to eke out weekly gain
EUROPE’S main index rose on Friday (Aug 9), with a continued boost from healthcare stocks, logging gains for a fourth consecutive session and eking out a gain for a turbulent week that began with a rout for global stocks on fears of a US recession. The continent-wide Stoxx 600 index closed 0.6 per cent higher…
Read MoreUS: Wall Street opens lower at end of turbulent week
Fed officials’ dovish signals following a report of a resilient labour market keep losses in check Wall Street’s main indexes opened lower on the last day of a turbulent week, while Federal Reserve officials’ dovish signals following a report of a resilient labour market kept losses in check. The Dow Jones Industrial Average fell 38.4…
Read MoreChina’s Harvest Fund chairman under investigation steps down
HARVEST Fund Management, one of China’s largest asset managers, said on Friday (Aug 9) chairman Zhao Xuejun had resigned and is cooperating with authorities regarding an investigation pertaining to “personal problems”, without elaborating. Co-chairman An Guoyong will serve as acting chairman. The probe has nothing to do with the company’s fund business, Harvest Fund said…
Read MoreTSMC sales grow 45% in July on strong AI chip demand
TAIWAN Semiconductor Manufacturing Co’s (TSMC) revenue rose 45 per cent in July, accelerating its pace of growth from the June quarter and bolstering hopes for sustained strong demand for artificial intelligence chips from the likes of Nvidia. Sales for the month reached NT$256.95 billion (S$10.5 billion). For the third quarter, analysts project TSMC revenue should…
Read MoreMicrosoft researchers report Iran hackers targeting US officials before election
THE breaches were part of Iranian groups’ increasing attempts to influence the US presidential election in November, the researchers said in a report that did not provide any further detail on the “official” in question. The report follows recent statements by senior US Intelligence officials that they’d seen Iran ramp up use of clandestine social…
Read MoreEurope: Stoxx 600 recovers early losses on US jobs data relief
The Stoxx 600 closed 0.1 per cent higher, after a sharp early decline in technology stocks knocked the pan-European index down over 1 per cent intraday. Data showed weekly US jobless claims fell more than expected, suggesting fears of a sharp weakening in the labour market, which in part had fuelled US recession fears, were…
Read MoreEyeing a turnaround, Kelly Ortberg takes helm as Boeing CEO
BOEING’S new CEO Kelly Ortberg began work on Thursday (Aug 8) at the embattled aviation giant, vowing closer attention to operations as the company seeks to rebound from stumbles and restore its financial health. In a message to workers, Ortberg expressed how “proud and excited I am to be a member of the Boeing team.” …
Read MoreYen flip-flops in volatile trading, keeping investors wary
THE yen hit choppy trading on Thursday (Aug 8) after a sharp drop the day before in a volatile week in which investors have had to digest the unwinding of popular carry trades and how Japanese monetary policy might evolve. The yen swung between losses of 0.14 per cent and a gain of 0.85 per…
Read MoreGeo Energy H1 profit drops 2% to US$26.7 million
INDONESIAN coal producer Geo Energy Resources posted a 2 per cent decline in net profit to US$26.7 million for its first half year ended Jun 30, from US$27.1 million a year ago. Revenue for the period was down 29 per cent to US$169.4 million from US$239.8 million. This was primarily due to lower Indonesian Coal…
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