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  • Aug 13, 2024

Cathay Pacific World’s Most-Shorted Airline Stock on Profit Woes

(Bloomberg) -- Cathay Pacific Airways Ltd. is now the world’s most-shorted major airline stock, as the industry struggles to improve profits even amid a rebound in global tourism.Most Read from BloombergBiden Invests $100 Million to Fuel Housing ConstructionIn DNC, Chicago’s Embattled Transit System Faces a High-Profile TestJohannesburg Mayor Quits Amid Infighting, Financial WoesHow Chicago’s Gigantic Merchandise Mart Is Still Thriving as Office SpaceGottheimer Calls for Rail Riders to Be Reimbu

  • Aug 13, 2024

Dollar sags after benign US inflation data; kiwi skids on rate cut

TOKYO (Reuters) -The dollar remained on the back foot on Wednesday after tumbling versus major peers overnight as a benign reading for U.S. producer prices reinforced bets on Federal Reserve interest rate cuts this year. New Zealand's dollar dropped sharply from a four-week high after the Reserve Bank of New Zealand reduced the key cash rate and flagged more cuts to come, surprising some market participants. Japanese Prime Minister Fumio Kishida's decision to not run for reelection in his party's leadership race next month had little effect on markets, analysts said.

  • Aug 13, 2024

Oil Rises After Industry Report Points to US Stockpile Drawdown

(Bloomberg) -- Oil rose, after falling more than 2% on Tuesday, as an industry report pointed to a sizable drop in US crude stockpiles and tensions simmered in the Middle East. Most Read from BloombergBiden Invests $100 Million to Fuel Housing ConstructionIn DNC, Chicago’s Embattled Transit System Faces a High-Profile TestHow Chicago’s Gigantic Merchandise Mart Is Still Thriving as Office SpaceJohannesburg Mayor Quits Amid Infighting, Financial WoesGottheimer Calls for Rail Riders to Be Reimburs

  • Aug 13, 2024

Asian Stocks Rise Ahead of US CPI, Kiwi Slumps: Markets Wrap

(Bloomberg) -- Stocks in Asia gained on bets that the upcoming US consumer price report will allow the Federal Reserve to start easing in September. The New Zealand dollar slumped following a surprise rate cut by the country’s central bank.Most Read from BloombergBiden Invests $100 Million to Fuel Housing ConstructionIn DNC, Chicago’s Embattled Transit System Faces a High-Profile TestHow Chicago’s Gigantic Merchandise Mart Is Still Thriving as Office SpaceJohannesburg Mayor Quits Amid Infighting

  • Aug 13, 2024

Japanese Stocks Fluctuate as Prime Minister Kishida Steps Aside

(Bloomberg) -- Japanese stocks fluctuated as hopes for lower US interest rates were balanced with concerns over political uncertainty over Prime Minister Fumio Kishida’s decision not to run for a second term. Most Read from BloombergBiden Invests $100 Million to Fuel Housing ConstructionIn DNC, Chicago’s Embattled Transit System Faces a High-Profile TestHow Chicago’s Gigantic Merchandise Mart Is Still Thriving as Office SpaceJohannesburg Mayor Quits Amid Infighting, Financial WoesGottheimer Call

  • Aug 13, 2024

New Zealand Cuts Rates as Slumping Economy Slows Inflation

(Bloomberg) -- New Zealand’s central bank cut interest rates, embarking on an easing cycle much sooner than previously indicated as the economy slumps and inflation slows. The local dollar plunged.Most Read from BloombergBiden Invests $100 Million to Fuel Housing ConstructionIn DNC, Chicago’s Embattled Transit System Faces a High-Profile TestHow Chicago’s Gigantic Merchandise Mart Is Still Thriving as Office SpaceJohannesburg Mayor Quits Amid Infighting, Financial WoesGottheimer Calls for Rail R

  • Aug 13, 2024

Shunning home markets, South Korean retailers pile-up on US stocks

South Korea's mom-and-pop investors are defying last week's global financial markets rout by pouring even more funds into U.S. stocks, a years-long trend that analysts and investors bet will continue due to the depressed value proposition at home. South Korean retailers have been scooping up Nvidia, Tesla Inc. and Apple shares this year fuelled in part by the worldwide AI-frenzy, a move that comes despite government efforts to boost the domestic stock market. Sunny Noh, a 49-year-old who has been investing in Tesla since 2020 and now holds about 85% of his financial assets in the electric-vehicle maker, said he sees the recent market plunge as a long-term buying opportunity.

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