Live Updates-China Caixin PMI, HK halts trading

31 minutes ago

South Korea’s factory activity shrinks at fastest pace in August

South Korea’s factory activity shrank at a faster pace in August, according to independent surveys by S&P Global.

The country’s Manufacturing Purchasing Managers’ Index fell to 48.9 from 49.4, the 14th month below the PMI breakpoint of 50.

A PMI reading above 50 indicates expansion, while a reading below 50 indicates sector contraction.

– Lim Hui Jee

An hour ago

Japan’s factory activity contracted for the third consecutive month in July

Japan’s factory activity contracted for a third straight month in August au Jibun Bank Personal Studies.

The country’s manufacturing purchases index came in at 49.6, slightly lower than last week’s flash estimate of 49.7 and unchanged from July.

“Weak customer confidence and subdued economic conditions are said to be weighing on new orders, although new product launches by some companies partially offset the decline,” the bank said in a statement.

– Lim Hui Jee

4 hours ago

China’s central bank cut the reserve ratio by 200 basis points

Effective September 15, the People’s Bank of China announced on Friday that it will reduce the foreign exchange reserve requirement ratio for financial institutions from 6% to 4%.

The cut follows various interest rate cuts over the past several weeks in an effort to boost the economy.

5 hours ago

CNBC Pro: September was a terrible month for stocks. The pros share their trading tips — and what to buy

August is a dull month. September, a historically stormy month, could not have been better.

There are advantages in how investors can trade and share shares to buy stocks in the coming month.

CNBC Pro subscribers can read more here.

– Weissen Don

5 hours ago

Hong Kong financial markets halt trading as the city braces for Super Typhoon Chayola

Trading in Hong Kong was delayed as Super Typhoon Chaola approaches Hong Kong Exchanges and Clearing Limited (HKEX) reported.

Morning trading sessions for all markets will be canceled if storm signal No.8 or higher is issued at 9am Singapore/Hong Kong time, HKEX said in a statement.

As of 7.45 am, the The Hong Kong Observatory noted Saola is moving closer to Hong Kong and expects “weather to deteriorate rapidly later today”. Signal number 8 is expected to be in effect most of the time today.

As stated therein Hong Kong Stock Exchange GuidelinesPre-opening no. If signal of 8 or more is given then trading will be stopped till 12 noon.

– Lee Ying Shan

5 hours ago

CNBC Pro: ‘Too Strong Strategy’: Fund Manager Makes a Case to Buy Dividend Stocks and Names 5

9 hours ago

Nasdaq has worst month since December

August marked a difficult period for tech stocks, with the Nasdaq Composite and Nasdaq-100 seeing their worst months since December 2022.

For the month, the Nasdaq composite fell about 2.2%, while the Nasdaq-100 ended 1.6% lower.

Among the biggest laggards were software stocks Fortinet and Datadock, down 22.5% and 17.3%, respectively, for the month. shares lost 19.6%, while Lucid Group and PayPal each shaved more than 17%.

– Samantha Subin

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