Morning Bid: Sliding yen rouses snoozing yuan

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BBCTech Apr 23

Australian PM calls Elon Musk an 'arrogant billionaire' in row over attack footage

bbc.com/news/world-australia-68878967

27

19h

China Offers Drivers Up to $1,380 to Trade in Their Old Cars: China will give a one-time subsidy of as much as 10,000 yuan ($1,380) to consumers who trade in ...

bloomberg.com/news/articles/2024-04-26/china-offers-drivers-up-to-1-380-to-trade-in-their-old-cars

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PCMag Apr 23

Elon Musk Thinks You Should Be Able to Watch a Stabbing Video on X: X removes video of a bishop being stabbed in Australia, but pushes back on requests to block ...

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Apr 26

Bank of Japan Stands Pat on Rates and Bond Buying, Hitting Yen: The Bank of Japan held its interest rate settings steady and simplified its language on ...

bloomberg.com/news/articles/2024-04-26/boj-holds-rates-drops-monthly-bond-buying-reference-figure

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12h

Sterling steadies against dollar, jumps to 16-year high vs yen

39

Apr 24

Japan's yen hits 155 to the dollar, weakest since 1990: (Reuters) -- The yen fell on Wednesday to its weakest levels against the dollar since 1990 ...

asia.nikkei.com/Business/Markets/Currencies/Japan-s-yen-hits-155-to-the-dollar-weakest-since-1990

Quick Glance: Market Volatility in Asia: Impact of Meta's Losses

The depreciation of Asian currencies against the U.S. dollar and potential actions by monetary authorities are at the forefront of Asian markets.

Post-market gains from U.S. tech giant Meta could impact Asian markets as shares dropped by 10% after trading hours.

Concerns surrounding currencies are escalating as the dollar breached 155.00 yen on Wednesday without any indication of intervention from Japanese authorities. Will Tokyo take action?

Given the current environment that led to a rare joint statement on exchange rates from the United States, Japan, and South Korea this month, no possibilities can be ruled out.

45

Apr 26

Scott Morrison: Australian ex-PM reveals he had anxiety struggle while in office: Scott Morrison says he sought medication while in office to prevent suffering ...

bbc.com/news/world-australia-68902804

168

Apr 24

Asian shares jump on tech boost; fragile yen on intervention watch: Asian stocks rose sharply on Wednesday led by tech stocks as investors' focus shifts to ...

reuters.com/markets/global-markets-wrapup-1-2024-04-24/

Quick Glance: Overview: Tesla Stocks Plummet, Europe Business Surpasses Expectations

World markets have brightened slightly this week, but Tesla is facing a critical earnings test, while Europe's business pulse has surprisingly been lively this month.

Following the worst week on Wall Street since 2022, relief from easing Middle East tensions helped stabilize the situation on Monday. The chip giant Nvidia made a modest recovery from losses as Big Tech megacaps gear up for quarterly earnings releases.

As the first of the 'Magnificent 7' Vanguard stocks, electric vehicle giant Tesla will report on Tuesday, having plummeted by a substantial 43% year-to-date and nearly 60% over the past two years amidst fierce price competition, declining EV demand, and governance/product concerns.

While Big Tech jitters define this month's market fluctuations, investors will closely watch the upcoming results for a clearer perspective.

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Apr 26

Japanese yen retreats after sudden surge: The Japanese yen slid on Friday, having briefly jumped against the dollar and other currencies ...

reuters.com/markets/currencies/yen-its-weakest-decades-boj-meets-2024-04-26/

24

Apr 23

Australia's First Sentier Shuts Four Funds With $9 Billion, 30 Staff to Depart

bloomberg.com/news/articles/2024-04-23/first-sentier-shuts-four-funds-with-9-billion-30-staff-to-go

12

Apr 25

The yen has a yield problem the BOJ can't easily fix

48

Apr 25

29 Pilot Whales Die After Mass Stranding on Australian Beach: Of the 160 whales stranded near the town of Dunsborough on Thursday morning, more than 100 were ...

76

Apr 26

Japan frets over relentless yen slide as BOJ keeps ultra-low rates: Japan is concerned about negative effects of the weak yen, finance minister Shunichi Suzuki ...

reuters.com/markets/currencies/japan-is-concerned-about-weak-yens-negative-effects-finmin-says-2024-04-26/

21

Apr 26

Orpheus Pledger: Home and Away star arrested after Australian manhunt: The actor was taken into custody on Thursday after failing to front court on assault ...

bbc.com/news/world-australia-68902803

102

Apr 24

Dollar suffers PMI hangover, Aussie jumps on inflation surprise: The dollar nursed its wounds on Wednesday following big tumbles against the euro and sterling ...

reuters.com/markets/currencies/dollar-shaky-after-euro-rebound-yen-mired-34-year-low-2024-04-24/

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The Sydney Morning Herald

B+

Apr 23

Australia has a new astronaut. But what would it take to get her to space?: Katherine Bennell-Pegg, who has graduated from the European Space Agency ...

smh.com.au/national/nsw/australia-has-a-new-astronaut-but-what-would-it-take-to-get-her-to-space-20240422-p5flob.html

247

Apr 25

Yen hits fresh 34-year lows against dollar ahead of BOJ meeting: The yen hit fresh 34-year low versus the dollar and a 16-year low against the euro on Thursday ...

reuters.com/markets/currencies/markets-wary-intervention-yen-struggles-155-level-2024-04-25/

22

Apr 18

Sydney church stabbing: Australian bishop forgives alleged attacker: Bishop Mar Mari Emmanuel also appealed for the community to stay calm after the alleged ...

bbc.com/news/world-australia-68814813

668

Apr 22

West is best? How we stack up against Australia: Running a quick stock take on the NZ and Aussie economies, Australia comes out on top.

newsroom.co.nz/2024/04/23/west-is-best-how-we-stack-up-against-australia/

53

Apr 25

Fragile yen could make BOJ's Ueda tilt more towards hawkish stance: The yen's slide to fresh 34-year lows is likely to force Bank of Japan Governor Kazuo Ueda to ...

reut.rs/3Qia2wk

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The Wall Street Journal

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Apr 24

Australian Inflation Stays Strong in March Quarter: Australian consumer prices rose 3.6% annually in the latest quarter, illustrating the challenge facing the ...

wsj.com/economy/australian-inflation-stays-strong-in-march-quarter-86c05cb9

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Apr 25

Australian police charge five teenagers in Sydney cleric's stabbing: Australian police said on Thursday they charged five teenagers with terrorism-related ...

20

19h

Morning Bid: Big Tech see-saw flips positive, yen swings wildly: A look at the day ahead in U.S. and global markets from Mike Dolan

reuters.com/markets/us/global-markets-view-usa-2024-04-26/

17

Apr 19

Japan hotel prices near 30-year high as weak yen lures record tourists: The average daily room rate for March was about ¥20,986 ($136), the highest level since ...

japantimes.co.jp/business/2024/04/19/companies/japan-hotel-prices-rise-near-30-year-high/

865

Apr 25

Fragile yen could make BOJ's Ueda tilt more towards hawkish stance

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15h

Japan's ANA enjoys record earnings on robust tourism growth - The Mainichi: TOKYO (Kyodo) -- ANA Holdings Inc. said Friday its net profit rose 75 ...

mainichi.jp/english/articles/20240426/p2g/00m/0bu/055000c

6

Apr 23

Japan may intervene to support yen any time, says senior ruling party official: Japanese authorities could intervene in the currency market any time as recent ...

reuters.com/markets/currencies/japan-may-intervene-support-yen-any-time-says-senior-ruling-party-official-2024-04-23/

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Apr 18

Australia Employment Drops, Sending Jobless Rate Up to 3.8%: Australian employment unexpectedly fell in March and the jobless rate rose, unwinding some of the ...

bloomberg.com/news/articles/2024-04-18/australian-employment-drops-sending-jobless-rate-up-to-3-8

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Apr 22

Chinese Nickel Billionaire Boosts Australian Miner in Indonesia: A little-known Australian company is becoming the Western face of a Chinese nickel behemoth.

bloomberg.com/news/articles/2024-04-22/chinese-nickel-billionaire-boosts-australian-miner-in-indonesia

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Apr 23

Firm dollar drags yen down closer to intervention range

29

Apr 19

Teenager charged with terrorism over Sydney bishop stabbing: A 16-year-old boy has been charged with a terrorism offence for allegedly stabbing an Assyrian ...

reut.rs/4aFtyLp

Quick Glance: Teenager Accused of Sydney Church Stabbing Displays Signs of Mental Illness, Court Reveals

A teenage boy facing a potential life sentence for terrorism in the stabbing of a bishop has exhibited behaviors consistent with mental illness or intellectual disability, according to his lawyer.

The 16-year-old is alleged to have traveled 90 minutes from his home to attack Bishop Mar Mari Emmanuel during a livestreamed sermon at Christ the Good Shepherd Church in Wakeley, Sydney.

Investigators from a joint counter-terrorism team, comprising state and federal police and Asio staff, interviewed the boy in his hospital bed before charging him with committing a terrorist act.

A brief of evidence is set to be presented when the matter returns to court on June 14.

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Apr 25

Ringgit soft as US$ remains elevated: KUALA LUMPUR: The ringgit extended its downward trend as the US dollar remained elevated while market players await the ...

thestar.com.my/business/business-news/2024/04/25/ringgit-soft-as-us-remains-elevated

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Apr 18

Japan foreign tourists top 3m in March, fueling record spending boom: TOKYO -- The number of monthly visitors to Japan exceeded 3 million for the first time in ...

asia.nikkei.com/Business/Travel-Leisure/Japan-foreign-tourists-top-3m-in-March-fueling-record-spending-boom

56

Apr 24

Country Garden Extends Bonds to Avoid First Local Default: Chinese developer Country Garden Holdings Co., one of the biggest symbols of the nation’s broader ...

bloomberg.com/news/articles/2024-04-24/country-garden-extends-bonds-to-avoid-first-local-default

27

Apr 25

Tepid economic data weighs on equities; yen sinks to fresh lows: Stocks snapped a three-day winning streak on Thursday as disappointing forecasts from Facebook ...

reuters.com/markets/global-markets-wrapup-1-2024-04-25/

10

23h

Nomura Q4 net profit jumps almost eight fold on retail income surge: Nomura Holdings , Japan's biggest brokerage and investment bank, reported on Friday a 670% ...

reuters.com/business/finance/nomura-q4-net-profit-jumps-almost-eight-fold-retail-income-surge-2024-04-26/

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Apr 24

Japan's Sumitomo plans $1.3 billion renewable power storage network, Nikkei reports

reuters.com/sustainability/japans-sumitomo-plans-13-billion-renewable-power-storage-network-nikkei-reports-2024-04-23/

18

Apr 20

Asia’s central bankers struggle to contain strong US dollar: Shifting US interest rate expectations put pressure on Japan’s yen and China’s renminbi

ft.com/content/ad6c7827-a476-412d-899f-a1a12845b6e5

65

Apr 19

Japan's March core inflation slows, weak yen complicates BOJ move: Japan's core inflation slowed in March and an index gauging broader price trends fell below 3% ...

reuters.com/markets/asia/japans-march-inflation-slows-26-eyes-boj-move-2024-04-18/

17

Apr 15

Japan's yen falls to lowest since 1990, dollar/yen up 0.6%

63

Apr 17

Japan's exports grew for fourth straight month in March: TOKYO -- Japan's exports grew in value terms for the fourth consecutive month in March ...

asia.nikkei.com/Economy/Trade/Japan-s-exports-grew-for-fourth-straight-month-in-March

52

Apr 11

Dollar hits 34-year high against yen after US inflation data: Move past ¥153 sparks speculation that Japan could intervene to support currency

ft.com/content/661bc2cb-6d6f-42b3-9909-d2bd696deb8a

151

Apr 15

Five Things You Need to Know to Start Your Day: Asia: Good morning. Tensions simmer in the Middle East. US stocks fall below key threshold ...

bloomberg.com/news/newsletters/2024-04-15/five-things-you-need-to-know-to-start-your-day-asia

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Apr 25

Yen drops to 155 range, new 34-yr low against U.S. dollar - The Mainichi: NEW YORK (Kyodo) -- The yen weakened to the 155 range against the U.S ...

mainichi.jp/english/articles/20240424/p2g/00m/0bu/069000c

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Apr 21

Ricciardo blasts Stroll after Chinese GP collision: Daniel Ricciardo accused Lance Stroll of not looking where he was going after the Aston Martin driver said an ...

reuters.com/sports/formula1/ricciardo-blasts-stroll-after-chinese-gp-collision-2024-04-21/

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Apr 22

Macquarie's banking unit to stop new car loans to focus on mortgage growth: Australian financial conglomerate Macquarie Group said on Monday its banking and ...

reuters.com/business/finance/macquaries-banking-unit-stop-new-car-loans-focus-mortgage-growth-2024-04-22/

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Apr 22

Australian coach defends Chinese swimming amid doping furore: Australian swimming coach Denis Cotterell has rejected allegations of orchestrated doping in ...

reuters.com/sports/australian-coach-defends-chinese-swimming-amid-doping-furore-2024-04-22/

17

Apr 22

SoftBank to spend $960m to boost computing power for generative AI: TOKYO -- Japanese telecom company SoftBank is investing 150 billion yen ($960 million) by ...

asia.nikkei.com/Business/Tech/Semiconductors/SoftBank-to-spend-960m-to-boost-computing-power-for-generative-AI

11

Apr 18

IMF says yen's declines 'significant' but reflect rate differentials

34

Apr 22

European Space Agency adds 5 new astronauts in only fourth class since 1978. Over 20,000 applied

apnews.com/article/europe-space-astronauts-esa-722d4a59d3958f3ff3d53bcf032d034c

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The Wall Street Journal

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Apr 22

Australian Treasurer Expects Smaller Revenue Upgrade in Budget: The Australian government expects to report a smaller revenue upgrade in its coming federal ...

wsj.com/economy/australian-treasurer-expects-smaller-revenue-upgrade-in-budget-8e26e76a

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12h

China General Nuclear lands first yuan trade finance for Brazil solar plant

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Apr 22

Tesla cuts prices in US, China and Germany as competition heats up: Tesla has announced aggressive price cuts in China and Germany, shortly after reducing prices ...

cnn.com/2024/04/22/cars/tesla-price-war-china-germany-us-intl-hnk/

Quick Glance: Tesla cuts prices in US, China and Germany as competition intensifies

Tesla has announced aggressive price cuts in China and Germany, shortly after reducing prices in the United States, as the world’s largest maker of electric vehicles (EV) faces declining sales and growing competition in major markets.

The prices of four models were slashed in China by 14,000 yuan ($1,932), while in Germany, the price of the Model 3 rear-wheel drive was lowered by 2,000 euros ($2,132). Earlier cuts were made in the US, with prices of three models reduced, while prices for the Model 3 and Cybertruck remained unchanged.

The price cuts come during a tough time for Tesla, with a significant stock plunge and a drop in quarterly deliveries. Elon Musk postponed his planned India trip due to company obligations. In China, Tesla's price cuts escalate an existing price war in a highly competitive sector influenced by other manufacturers like BYD offering more affordable options.

The price wars in China began in 2022 and continue with over 30 car makers announcing further price reductions, impacting the entire auto industry's profit margins. Competitors like BYD and XPeng are also offering subsidies and lowering prices to attract buyers in the EV market, posing challenges to Tesla's market dominance.

158

Apr 19

Instant view: Oil, Japan's yen up on reports Israeli missiles hit Iran: Oil and gold prices rose and Japan's yen rallied on Friday on reports Israeli missiles ...

reuters.com/markets/view-oil-japans-yen-up-reports-israeli-missiles-hit-iran-2024-04-19/

23

Apr 10

Biden is 'considering' dropping charges against Wikileaks cofounder Julian Assange

qz.com/biden-wikileaks-julian-assange-drop-charges-1851401505

Quick Glance: Contemplating Prosecution Cessation for Wikileaks Founder Julian Assange

President Joe Biden is contemplating Australia's request to cease the long-standing U.S. effort to prosecute Wikileaks founder Julian Assange for revealing American classified documents.

There is a disparity in the treatment of Assange and Manning, with Obama shortening Manning's sentence while Assange remains under indictment. Supporters of Assange argue he is a journalist protected by the First Amendment who exposed U.S. military misconduct in Iraq and Afghanistan.

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guardiantech Apr 22

Elon Musk hits back at Australian court order against X images of stabbing: The Tesla billionaire uses posts on his social media platform to attack Anthony ...

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Apr 20

Jordan van den Berg: The 'Robin Hood' TikToker taking on Australian landlords: Jordan van den Berg's vigilante-style approach has won him fans and critics amid a ...

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Apr 26

More than just a bowl of noodles, ramen in Japan is an experience and a tourist attraction - The Mainichi

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Apr 19

Aussie, NZ dollars tumble on risk-off moves; yen rises: A wave of risk aversion swept over markets on Friday and sent the Australian and New Zealand dollars ...

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Reuters

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Apr 23

Nidec posts unexpected quarterly loss, hit by restructuring costs amid China EV war

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Apr 25

Why you should renew your passport now: Aussies already lay claim to having one of the most powerful passports in the world — and according to new research ...

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Apr 21

Tesla cuts prices in China, Germany and around globe after US cuts: Tesla has cut prices in a number of its major markets, including China and Germany ...

reuters.com/business/autos-transportation/tesla-cuts-prices-across-its-line-up-china-2024-04-21/

Quick Glance: Tesla responds to declining sales with global price reductions

Tesla has lowered prices in various key markets, including China and Germany, to address the declining sales and increasing price competition for electric vehicles.

The recent price reductions come in light of a decrease in Tesla's global vehicle deliveries in the first quarter, marking the first time in nearly four years.

The starting price of the revamped Model 3 in China was reduced by 14,000 yuan to 231,900 yuan. Similarly, in Germany, the price of the rear-wheel-drive Model 3 was decreased from 42,990 euros to 40,990 euros.

In addition to the mentioned price cuts, there were reductions in many other countries across Europe, the Middle East, and Africa. Prices for the Model Y, Model X, and Model S vehicles in the US were decreased by $2,000. Moreover, Tesla slashed the price of its Full Self-Driving Software in the US from $12,000 to $8,000.

17

Apr 20

Japan's big cities become magnets for inherited rural savings: TOKYO -- Major Japanese banks are vying for an estimated 58 trillion yen ($377 billion) in ...

asia.nikkei.com/Spotlight/Datawatch/Japan-s-big-cities-become-magnets-for-inherited-rural-savings

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U.S. CPI, New Security Initiatives With Tokyo And Manila, Bank Of Canada Meeting: Given the backup of US rates and the stronger-than-expected jobs growth ...

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Apr 22

Currencies calm but cautious after a weary week: The euro and yen were relatively steady in early Asian trading on Monday and the U.S. dollar stayed near its ...

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Apr 16

China’s Big Data Release to Show If Economy Rebounded

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Apr 22

China leaves benchmark lending rates unchanged, in line with expectations: China left benchmark lending rates unchanged at a monthly fixing on Monday ...

reuters.com/world/china/china-leaves-benchmark-lending-lprs-unchanged-line-with-expectations-2024-04-22/

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Apr 16

China's cycle of dollar hoarding and weakening yuan gets vicious: Chinese businesses are hoarding dollars because they expect their own currency to weaken ...

37

7h

Australian federal government commits $160 million for creation of national firearms register

rnz.co.nz/news/world/515329/australian-federal-government-commits-160-million-for-creation-of-national-firearms-register

21

Apr 17

Weak yen lifts Japan's exports but higher import bills hurt business mood

32

Apr 24

Lynas Rare Earths' revenue slumps, misses expectations: Australian miner Lynas posted a slump in third-quarter sales revenue on Wednesday ...

reuters.com/markets/commodities/australias-lynas-rare-earths-q3-sales-revenue-falls-58-2024-04-23/

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Apr 18

BOJ's Ueda signals possible rate hike if weak yen boosts inflation

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Apr 26

Japan March duty-free sales at department stores surge to record high - The Mainichi

mainichi.jp/english/articles/20240425/p2g/00m/0bu/045000c

3

Apr 25

Sydney church stabbing: Australian police charged five teens following anti-terror raids

apnews.com/article/australia-sydney-church-stabbing-terrorist-bishop-bd2eb0e8239cdc2f93ecfffa40b3badb

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1h

Chinese authorities are now addicted to traffic fines: What that tells you about the country’s economic woes

economist.com/finance-and-economics/2024/04/25/chinese-authorities-are-now-addicted-to-traffic-fines

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Apr 17

Dollar steady, yen fragile after Fed comments dash rate cut bets

30

Apr 20

Mt. Fuji's Yoshida route to cap entry at 4,000 daily, limit hours, collect toll - The Mainichi

mainichi.jp/english/articles/20240419/p2a/00m/0li/029000c

5

Apr 15

Australian police say Sydney knife attacker may have targeted women: Australian police on Monday said the attacker who fatally stabbed six people at a busy ...

34

Apr 18

South Korea's LG Electronics raises $800 million dollar bond, term sheet shows: South Korea's LG Electronics has raised $800 million through a dollar bond deal ...

reuters.com/markets/asia/south-koreas-lg-electronics-plans-raise-up-1-bln-with-dollar-bonds-sources-say-2024-04-18/