one hour ago
Daiwa Securities shares fall 5% after news of its stake in Aozora Bank
Shares of Daiwa Securities Group fell more than 5% in early trading after the Japanese brokerage said it would acquire a stake in Aozora Bank.
Aozora Bank shares jumped 5% before paring gains to trade roughly 0.1% higher in late morning trading.
Daiwa will acquire a roughly 15.38% stake in Aozora for about 51.9 billion yen ($331.8 million), the companies said in a statement on Monday.
– Shreyashi Sanyal
2 hours ago
Japanese import prices jump 6.4% in April amid weak yen
Data from the Bank of Japan showed that corporate inflation was flat in April compared to the previous year, but import prices jumped last month.
Import prices in April rose 6.4% year-on-year amid a weaker yen. This was the biggest jump in import prices since March 2023.
Japan’s corporate goods price index (CGPI), or producer prices, rose 0.9% year-on-year last month, the same level as March. The reading was slightly higher than the Reuters poll’s expectation of an increase of 0.8 percent.
The CGPI is a measure of the prices that companies charge each other for their goods and services.
– Shreyashi Sanyal
3 hours ago
India’s consumer price inflation for April is broadly in line with expectations at 4.83%
India’s CPI grew by 4.83% year-on-year in April, down slightly from the 4.85% recorded in March, and slowing for the fourth straight month.
Although this was the slowest inflation rate since June 2023, the figure was slightly higher than the 4.8% expected by economists polled by Reuters.
The Indian Ministry of Statistics said that inflation in rural areas grew more sharply to 5.43%, while the inflation rate in urban areas reached 4.11%.
The ministry also added that inflation declined in clothing, shoes, housing and fuel compared to the previous month.
– Lim Hui Ji
4 hours ago
CNBC Pro: These three ETFs have risen by double digits every year for the past five years
CNBC Pro research found that only three ETFs worldwide produced double-digit annual returns over the past five years.
The three funds stood out among 8,300 stock ETFs worldwide examined by CNBC Pro using FactSet data.
Analysts also expect two of the three ETFs to rise by double digits again over the next 12 months.
CNBC Pro subscribers can read more here.
-Ganesh Rao
4 hours ago
CNBC Pro: 14 analysts have upgraded this global AI chip stock in the past two weeks
There was a lot of love for one of the global chip stocks, with as many as 14 analysts upgrading it in the past two weeks.
Stocks have soared due to the AI boom. It’s up 35% so far this year, and 60% since last year.
CNBC Pro subscribers can read more here.
-Weezin Tan
8 hours ago
Barclays says US growth and large-cap stocks have a better outlook
While value stocks continue to outperform in Europe, growth stocks are currently benefiting from improving forward guidance in the US, according to Barclays.
“Interest rates have fallen from recent highs following a dovish shift from the Fed, further boosting growth expectations,” strategist Venu Krishna wrote. “We remain optimistic on growth in the US, while we are neutral on value in both regions given that peak rates are behind us.”
Krishna also reiterated his positive stance on large US stocks compared to their smaller counterparts.
He added: “In the US, the exposure of large caps to quality trends and sales/earnings per share growth (topics we are positive on) combined with the interest rate risks faced by small, highly leveraged caps leads us to maintain a positive outlook on large caps relative to corporates. “The little one.” .
-Lisa Kailai Han
8 hours ago
HSBC says markets are seeing a “goldilocks-style rise”.
The rise in stocks last week after a tough period in April suggests the market is moving on from its decline, according to HSBC.
“The decline in risk assets is increasingly in the rearview mirror as many major stock indexes approach year-to-date highs,” strategist Duncan Thoms wrote in a note on Monday. “These broad-based gains once again resemble a Goldilocks-style rally.”
As investors await Wednesday’s CPI report, Toms believes “the barriers to more hawkish surprises are rising.” Thus, the strategist believes that even consistent forecasts can be another catalyst for risky assets to rise.
— Hakyung Kim
12 hours ago
The Fed’s Jefferson supports a “restrictive” interest rate policy.
Federal Reserve Governor Philip Jefferson testifies before a Senate Banking Committee hearing on his nomination to be the next Vice Chairman of the Federal Reserve, on Capitol Hill in Washington, D.C., on June 21, 2023.
Jonathan Ernst | Reuters
Federal Reserve Vice Chairman Philip Jefferson backed the central bank’s current monetary policy stance, saying Monday that a higher level of interest rates is appropriate until more evidence comes in that inflation is on a sustainable path downward.
“My view is that given the slowdown in progress in terms of bringing inflation down to our target, it is appropriate that we keep the interest rate in the restricted area, which it is now,” Jefferson said in a Q&A. Answer session with outgoing Cleveland Fed President Loretta Mester.
He added that the Fed should “continue to look for additional evidence that inflation will return to our 2% target, and until we get there, I think it is appropriate to keep the interest rate in the restricted area.”
As governor, Jefferson is a permanent voting member of the Federal Open Market Committee, which sets interest rates.
– Jeff Cox
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