Month: October 2020

(Bloomberg) — Oil rose from a three-week low after a member of Donald Trump’s medical team said the U.S. President could leave the hospital as soon as Monday, despite contradictory accounts about his health status.Futures advanced 1.6% in New York after the biggest weekly drop since June amid a broader relief rally in Asian stocks. Trump’s condition remained clouded by confusion, with the president making a surprise outing from the medical center in a show of strength. Meanwhile, a strike in Norway is threatening to cut 8% of the nation’s output.Trump’s recovery have been the subject of intense speculation after …read more […]

The cinema chain is suspending operations in the UK and the US, putting thousands of jobs at risk. …read more […]

(Bloomberg) — Once one of Hong Kong’s steadiest stocks, HSBC Holdings Plc is now more than three times as volatile as the city’s benchmark. Investors are betting that will continue.Options traders in Hong Kong are pricing in a volatile October, snapping up both bullish calls and bearish puts on HSBC. The cost of one-month contracts tied to HSBC’s Hong Kong shares has climbed to near the highest since May 2009 relative to those on the city’s Hang Seng Index, according to data compiled by Bloomberg. That indicated high demand to protect against further volatility in the stock.More than 46,000 of …read more […]

Oct.05 — Melanie Sanders, partner at Bain & Company, discusses the outlook for retail spending in China amid the eight-day-long Golden Week holiday that began last Thursday, and how the coronavirus outbreak is affecting demand for online shopping in the region. She speaks with Yvonne Man and Haslinda Amin on “Bloomberg Markets: China.” …read more […]

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(Bloomberg) — Almost three-quarters of the pandemic-driven jobs losses in the U.S. petroleum and chemical sectors may not come back before the end of next year, according to Deloitte LLP.The collapse in oil demand and prices spurred the fastest rate of oil- and chemical-industry layoffs in history, with about 107,000 jobs eliminated between March and August, Deloitte said in a study scheduled to be released Monday. The number is probably even higher when furloughs and other headcount measures are taken into account, according to Duane Dickson, vice chairman and U.S. oil, gas and chemicals leader for Deloitte.Oil explorers, gas drillers, …read more […]

Spot gold was nearly flat at $1,896.21 per ounce by 0328 GMT. U.S. gold futures were down 0.3% at $1,902. “There’ll be reluctance to sell gold at this stage because of the increasing amount of uncertainty as we head towards the U.S. presidential election,” said Howie Lee, an economist at OCBC Bank. …read more […]

Oct.04 — Maxine Ryan, founder of ProsperApp, discusses the startup scene in Asia, her outlook for the sector and how her app is helping teach financial concepts to millennials in under 5 seconds. She speaks on “Bloomberg Markets: China Open.” …read more […]

Oct.04 — Kelvin Tay, regional chief investment officer for Asia Pacific at UBS Global Wealth Management, discusses the outlook for markets, interest rates, and the U.S. presidential election. He speaks with Haslinda Amin and Yvonne Man on “Bloomberg Markets: Asia.” …read more […]

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(Bloomberg) — Daisuke Sasaki has seen his cloud-based accounting company’s valuation swell to $3.7 billion despite having yet to show a profit, but he’s not letting that pressure him.Shares of Freee K.K. have quadrupled since going public on the Tokyo Stock Exchange in December, along with rising demand for cloud services amid the remote-working trend. The stock rose as much as 1.6% Monday to a new high.“We don’t have a set timeframe for when the company will swing to profits,” Sasaki, founder and chief executive of Freee, said in an interview on Aug. 17. “Our business is about subscription.”The Tokyo-based …read more […]

Oil prices rose about 2% on Monday, lifted by comments from doctors for U.S. President Donald Trump suggesting he could be discharged from hospital as soon as Monday, just a few days after his positive test for COVID-19 sparked widespread alarm. Trump’s health update eased political uncertainty in global markets, pushing Brent up to $39.96 a barrel by 0232 GMT, gaining 69 cents or 1.8%. U.S. West Texas Intermediate (WTI) crude was at $37.81 a barrel, up 76 cents, or 2.1%. …read more […]

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Oct.04 — The coronavirus outbreak within the White House is cutting short Secretary of State Mike Pompeo’s current visit to Asia. Bloomberg’s Stephen Engle reports on “Bloomberg Daybreak: Asia.” …read more […]

Oct.04 — Avonhurst partner and head of global political strategy Tina Fordham, discusses Trump’s health after contracting COVID-19, and its impact on the markets and poles. She speaks with Shery Ahn and Haidii Stroud-Watts on “Bloomberg Daybreak: Asia.” …read more […]