Tag Archives: stocks

China stocks have worst day in a month after bleak GDP data

China stocks have worst day in a month after bleak GDP dataChina stocks fell on Friday, posting their steepest daily drop in a month to end the week lower, as weaker-than-expected GDP growth deepened worries over the health of the world’s second largest economy amid a trade war that is more than a year old. ** China’s third-quarter economic growth slowed more than expected and to its weakest pace in almost three decades as the bruising U.S. trade war hit factory production, boosting the case for Beijing to roll out fresh support. ** “Given exports are unlikely to stage a comeback and a possible slowdown in the property sector, the downward pressure on China’s economy is likely to continue, with fourth-quarter economic growth expected to slip to 5.9%,” Hwabao Trust economist Nie Wen said.



Yahoo News – Latest News & Headlines

Foreigners Dump $1.2 Billion of Indonesian Stocks After Weak Growth, Protests

Foreigners Dump $  1.2 Billion of Indonesian Stocks After Weak Growth, Protests(Bloomberg) — Foreign investors pared their holdings of Indonesian stocks as escalating political demonstrations added to worries of a slowdown in Southeast Asia’s largest economy.Net foreign selling in the equity market reached $ 1.2 billion in the third quarter, set for the biggest outflow since the second quarter of 2018, according to data compiled by Bloomberg. The selloff trims the year-to-date net inflow to $ 3.7 billion.Investors have been worried that earnings will slump as growth in gross domestic product slows to 5.05%, the weakest in two years. To make matters worse, thousands of demonstrators took to the streets of Jakarta last week as part of countrywide protests aimed at forcing the government to reconsider legislation rights that groups say will curtail civil liberties.The trouble signals a tough path ahead for President Joko Widodo, popularly known as Jokowi, before he starts his second term next month. He managed to lead with a wider margin during the re-election in April and is expected to name his new cabinet after the Oct. 20 inauguration.“The economic slowdown has been caused by a wait-and-see attitude among investors in the lead up to the cabinet formation,” said Harry Su, head of equity capital markets at Samuel International. “Continued demonstrations and skirmishes on the ground are adding to worries and contributed to the biggest net foreign outflow since June 2018.”Su said he would advise clients to maintain their holdings of defensive stocks and wait for Widodo to decide on his new cabinet.Widodo also has to deal with new police and military clashes with separatist forces in the province of Papua in which at least 30 people were killed.“The current situation is undoubtedly not conducive to investment,” Su said. “I find the degree of flash point emergence to be highly unexpected.”To contact the reporters on this story: Harry Suhartono in Jakarta at hsuhartono@bloomberg.net;Tassia Sipahutar in Jakarta at ssipahutar@bloomberg.netTo contact the editors responsible for this story: Lianting Tu at ltu4@bloomberg.net, Naoto Hosoda, Kurt SchusslerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.



Yahoo News – Latest News & Headlines

Hong Kong stocks surge after extradition bill withdrawal reports

Hong Kong stocks surge after extradition bill withdrawal reportsHong Kong’s stock market soared Wednesday after local media reported that the city’s embattled leader is planning to fully withdraw a loathed extradition bill, one of the main demands of pro-democracy protesters. The Hang Seng index leapt more than three percent in afternoon trade after the South China Morning Post and HK01 both published reports that the city’s pro-Beijing chief executive Carrie Lam was planning to shelve the bill.



Yahoo News – Latest News & Headlines

Asian stocks plunge on US-China trade war worries

Asian stocks plunge on US-China trade war worriesAsian stock markets plunged Friday after President Donald Trump’s surprise threat of tariff hikes on additional Chinese imports. In early trading, Tokyo’s main index tumbled 2.2% and Hong Kong’s benchmark lost 2%. Trump’s announcement of 10% tariffs on $ 300 billion of Chinese goods, due to take effect Sept. 1, surprised investors after the White House said Beijing promised to buy more farm goods.



Yahoo News – Latest News & Headlines

New York Extends Gun Background Checks, Bans Bump Stocks

New York Extends Gun Background Checks, Bans Bump StocksNew York gun buyers may wait up to 30 days for background checks under a new law signed Monday by Democratic Gov. Andrew Cuomo.Cuomo signed legislation to extend the background check waiting period from three days to as much as 30 for gun buyers who are not immediately approved, as well as a ban on bump stocks, the governor’s office announced.“By signing these measures into law we are strengthening our nation-leading gun laws — banning devices whose sole purpose is to create the most bloodshed in the shortest timeframe and providing law enforcement the tools they need to stop firearms from falling into dangerous hands.” Cuomo said in a statement.The legislation passed both houses in January, according to the New York Post.New York gun dealers are required to perform National Instant Criminal Background Check System (NICS) background checks on potential gun buyers, resulting in notifications to “proceed,” “denied,” or “delayed.”The review typically took three days before the dealer could move forward or refuse the sale, a judgment they could make even if the background check came back “delayed.”



Yahoo News – Latest News & Headlines

Bump stocks, which allow rifles to mimic automatic weapons, are now illegal to own, buy or sell

Bump stocks, which allow rifles to mimic automatic weapons, are now illegal to own, buy or sellAn October 2017 mass shooting in Las Vegas that killed 58 prompted action on bump stocks by President Donald Trump.



Yahoo News – Latest News & Headlines

BlackRock Sees Emerging Stocks Almost Recouping Last Year's Loss

BlackRock Sees Emerging Stocks Almost Recouping Last Year's LossIn the face of slowing global growth, the Federal Reserve is unlikely to raise rates this year, causing the dollar to weaken and improving the flows into emerging markets, said Fraser, global emerging-market equities fund manager. “Markets should recoup most, if not all, of their losses from last year,” Fraser, who is based in Hong Kong and helped manage the firm’s approximately $ 40 billion of active EM equities as of the end of 2018, said in a phone interview.



Yahoo News – Latest News & Headlines

Race against time in blackout-hit Venezuela to save food stocks

Race against time in blackout-hit Venezuela to save food stocksVicente Fernandez has not opened his freezer since the massive blackout began in Venezuela on Thursday. “I’m afraid it has all gone bad,” says Fernandez, a 54-year-old who sells telecoms equipment. Venezuelans, already feeling the pinch due to food and medicine shortages, are suffering even more now that the power has gone down.



Yahoo News – Latest News & Headlines

Markets Right Now: Stocks mark 1st weekly loss since January

Markets Right Now: Stocks mark 1st weekly loss since JanuaryNEW YORK (AP) — The latest on developments in financial markets (all times local):



Yahoo News – Latest News & Headlines

7 Energy Stocks That Don't Need Higher Oil Prices

7 Energy Stocks That Don't Need Higher Oil PricesThe best oil stock ideas from Bank of America.



Yahoo News – Latest News & Headlines