Inflation in Tokyo, Bank of Japan interest rate decision

one hour ago

Technology stocks in Hong Kong jump by about 5%

Hong Kong's Hang Seng Tech Index jumped 4.7% in afternoon trading, with technology stocks leading the gains.

Shares of Chinese artificial intelligence giant SenseTime Group rose 25%, while shares of electric car makers such as Nio and Li Auto rose more than 5% each.

Sentiment was positive overnight as major US technology companies, including Alphabet and Microsoft, posted strong earnings.

The broader Hang Seng Index rose 2.4%.

– Shreyashi Sanyal

3 hours ago

The yen hits a new low after the Bank of Japan kept interest rates unchanged

The headquarters of the Bank of Japan in Tokyo.

Bloomberg | Getty Images

The Bank of Japan kept its benchmark interest rate unchanged at 0%-0.1%, as expected.

The Bank of Japan also said it would continue to make bond purchases in line with the March decision, but no comment was made on the yen.

The value of the Japanese yen fell beyond 156 yen against the US dollar after the decision, touching its lowest levels in 34 years. The benchmark Nikkei 225 index continued its gains, rising by 0.7%.

Investors are now awaiting a press conference held by Bank of Japan Governor Kazuo Ueda later in the day.

– Shreyashi Sanyal

5 hours ago

Australian producer prices rose at a faster rate in the first quarter

The Australian Producer Price Index recorded a 4.3% increase in the first quarter compared to last year, accelerating from a 4.1% gain in the fourth quarter.

The 4.3% gain was also the fastest rise since the first quarter of 2023. On a quarterly basis, the Australian Producer Price Index rose 0.9%.

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The country's statistics office He stressed that the main contributors to this increase were real estate operators, higher education, and building construction, with higher education recording the largest price increase.

– Lim Hui Ji

5 hours ago

Hon Hai shares jump 4% to their highest level in more than two weeks

Shares of Taiwan's Hon Hai Precision Industry jumped as much as 4.3% in early trading, hitting their highest level in more than two weeks.

American software company Cerence said will supply Hon Hai EV subsidiary Foxtron is equipped with a voice-activated AI assistant. The system features bilingual recognition of Taiwanese Mandarin and English, Sirence said.

“We are proud to partner with Foxtron to bring the power of voice interaction to drivers in Taiwan for the first time,” said Christian Mintz, Chief Revenue Officer at Cerence.

Hon Hai shares are up nearly 50% so far this year.

– Shreyashi Sanyal

7 hours ago

Inflation in Tokyo slowed sharply in April, and core inflation was sharply lower than expected

Inflation in the Japanese capital, Tokyo Growth slowed to 1.8% in April, down from 2.6% in March.

Core inflation in the city – which excludes fresh food prices – was 1.6%, down from 2.4% in March, missing the 2.2% forecast of economists polled by Reuters.

Tokyo's inflation figures are widely considered a leading indicator of national trends.

– Lim Hui Ji

8 hours ago

CNBC Pro: Goldman Sachs Likes These 2 Mobile Gaming Stocks Set for a 'Blocky' Launch, Giving One a 40% Upside

Investors seeking exposure to China's growing gaming industry should specifically look at two technologies according to Goldman Sachs.

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“China will see faster growth from mid-2024, supported by gaming launches and a relaxed regulatory environment,” the investment bank expects.

Speaking of opportunities for companies, the Wall Street bank pointed to opportunities such as “an accelerating quarter with huge headline launches” in the second quarter of 2023.

CNBC Pro subscribers can read more here.

– Amala Balakrishner

8 hours ago

CNBC Pro: Should investors buy the dip in Lululemon? This is what the fund manager says

Shares of popular athletic brand Lululemon have fallen this year, lagging the S&P 500 index significantly.

Its shares, which were included in the Wall Street index last October, have fallen by about 28% since the beginning of the year to date.

Does this make it a good deal for investors right now? Jack Dwyer, CEO of Infusive Asset Management, comments.

CNBC Pro subscribers can read more here.

-Weezin Tan

9 hours ago

The Fed's preferred measure of inflation for March will be released on Friday

The personal consumption expenditures price index is scheduled to be released on Friday morning, giving the Federal Reserve a detailed snapshot of the latest inflation measures.

In March, economists polled by Dow Jones expected the headline personal consumption expenditures index to grow 0.3% from the previous month and 2.6% from the previous 12 months. They expect core prices, which exclude food and energy costs, to grow by 0.3% on a monthly basis and by 2.7% on an annual basis.

The first-quarter GDP report released on Thursday revealed that personal consumption expenditures for the period rose 3.4%, much higher than the 1.8% increase in The fourth quarter. The result sparked a massive sell-off in stocks as investors worried about signs of stagflation — a scenario in which an economy's growth slows but inflation rises.

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Darla Mercado

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