Macau Business

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2024-09-30 17:57:01

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#note1t0a…u7xv

2024-09-30 17:57:01

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#note1t0a…u7xv

2024-09-30 17:56:49

China stocks soar on stimulus, but US and Europe retreat
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Chinese stocks surged over 8% on October 1, 2024, following new economic stimulus measures, marking their best day since 2008; US and European stocks retreated due to profit warnings from Stellantis and Aston Martin, with Stellantis shares down 14.7% and Aston Martin down 23%; US labor market data, including nonfarm payrolls on October 4, 2024, will be closely monitored for potential interest rate cuts; ECB's Christine Lagarde noted inflation slowdowns in the EU, hinting at a possible rate cut in October; Tokyo stocks fell nearly 5% amid expectations of a strong yen under incoming PM Shigeru Ishiba; analysts express caution as major indices approach all-time highs.
#China #Stocks #Stimulus #Us #Europe #Inflation #InterestRates #AstonMartin #Stellantis #Tokyo
https://www.macaubusiness.com/china-stocks-soar-on-stimulus-but-us-and-europe-retreat/

2024-09-29 08:50:00

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#note18xz…pw8c

2024-09-29 08:49:48

A good opportunity for the GBA and the California Bay Area to collaborate in industries like Sustainable and Green Finance.
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On September 29, 2024, Oriol Caudevilla discusses the collaboration potential between the Greater Bay Area (GBA) and California Bay Area in sustainable finance. In May 2024, Hong Kong's Financial Secretary, Paul Chan, led a delegation to the Bay to Bay Dialogue in Berkeley, California, focusing on cooperation in green finance. Chan emphasized Hong Kong's goal of carbon neutrality by 2050 and the GBA's market potential, with a population of 87 million contributing to 12% of China's economy. A Memorandum of Understanding was signed between InvestHK and San Francisco’s Bay Area Council to promote green economy cooperation. The GBA, often referred to as 'China’s Silicon Valley', is seen as crucial for Hong Kong's economic diversification amidst concerns over its economic slowdown. The article highlights the importance of US-China cooperation in addressing global challenges, with the GBA enhancing Hong Kong's role as a fintech hub and its participation in the Regional Comprehensive Economic Partnership.
#Gba #California #SustainableFinance #GreenEconomy #HongKong #Cooperation #Fintech #EconomicDiversification #MemorandumOfUnderstanding #CarbonNeutrality
https://www.macaubusiness.com/opinion-a-good-opportunity-for-the-gba-and-the-california-bay-area-to-collaborate-in-industries-like-sustainable-and-green-finance/

2024-08-20 09:52:45

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#note1j36…63cd

2024-08-20 09:52:34

Asian markets fluctuate ahead of key earnings and Powell
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Asian markets showed fluctuations on August 20, 2024, as investors anticipated Federal Reserve Chairman Jerome Powell's speech at the Jackson Hole symposium, which may hint at an interest rate cut. Recent US economic data suggests inflation is slowing and the labor market is softening, leading to expectations of a 25 basis point cut next month, with some speculating a 50 basis point cut. Powell indicated a potential rate cut could come 'as soon as' September. Analysts, including Stephen Innes, noted the market is keenly awaiting Powell's remarks. San Francisco Fed chief Mary Daly expressed confidence in taming inflation, while Minneapolis Fed's Neel Kashkari supported the idea of a rate reduction. Wall Street indexes rose, with the S&P up 1% and Nasdaq up 1.4%. Tokyo's Nikkei 225 rose 1.8%, while Hong Kong's Hang Seng Index fell 0.5%. Oil prices dropped amid hopes for a Gaza ceasefire, with US Secretary of State Antony Blinken involved in negotiations. In corporate news, Seven&i Holdings saw a significant drop after a surge due to a takeover bid from Alimentation Couche-Tard, valued at $38.6 billion, which may face regulatory scrutiny.
#AsianMarkets #FederalReserve #InterestRates #JeromePowell #Earnings #Inflation #Tokyo #HongKong #OilPrices #Seven&iHoldings
https://www.macaubusiness.com/asian-markets-fluctuate-ahead-of-key-earnings-and-powell/

2024-08-16 09:13:18

Equities surge on strong US consumer data
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Japanese stocks surged and markets in Asia strengthened on Friday, tracking substantial gains on Wall Street after encouraging US retail sales data reassured investors about the health of the world’s biggest economy. The key Nikkei 225 index added more than three-and-a-half percent following rallies on Wall Street, continuing a bullish run after stocks in Tokyo crashed Monday on worries about the US economy and a stronger yen. Chinese data on Thursday showed the country’s industrial production slowing and unemployment rising in July, while consumer spending marginally beat analysts’ expectations. Despite a nearly 30 percent dip in quarterly profit reported on Thursday, Chinese tech giant Alibaba saw its stock soar in Hong Kong after it recorded gains in New York. Stocks in Shanghai also ended marginally higher while Singapore, Seoul, Sydney, Taipei, Manila, Mumbai, Bangkok, and Jakarta all posted healthy gains early. In Europe, Paris and Frankfurt both rose at the open while London edged down.
#Equities #UsConsumerData #JapaneseStocks #WallStreet #Nikkei225 #ChineseData #Alibaba #HongKong #Shanghai #Singapore #Seoul #Sydney #Taipei #Manila #Mumbai #Bangkok #Jakarta #Paris #Frankfurt #London
https://www.macaubusiness.com/equities-surge-on-strong-us-consumer-data/

2024-08-13 11:27:58

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#note1z0u…n4ct

2024-08-13 11:27:47

Asian stocks build on gains ahead of US inflation data
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Asian stocks rose as worries about a US recession eased; Tokyo's Nikkei led the rally and topped levels before last Monday's rout; Investors remain cautious ahead of US consumer and wholesale price figures; The inflation readings could cause big market moves; The Fed is walking a thin line between nurturing growth and controlling prices; Asian markets rallied, including Tokyo, Hong Kong, Sydney, Shanghai, Bangkok, Seoul, Taipei, Singapore, Wellington, Manila, and Jakarta; Oil prices edged lower due to fears of conflict in the Middle East and tensions in Russia; London, Paris, and Frankfurt also advanced; Key figures: Tokyo's Nikkei up 3.5%, Hang Seng Index up 0.4%, Shanghai Composite up 0.3%, FTSE 100 up 0.2%; Euro/dollar up at $1.0933, Pound/dollar up at $1.2807, Dollar/yen up at 147.84 yen; Oil prices down 0.5%, West Texas Intermediate at $79.66 per barrel, Brent North Sea Crude at $81.87 per barrel; Dow down 0.4% at 39,357.01
#AsianStocks #UsInflationData #Tokyo'sNikkei #MarketMoves #FederalReserve #OilPrices #MiddleEast #Russia #London #Paris #Frankfurt #KeyFigures
https://www.macaubusiness.com/asian-stocks-build-on-gains-ahead-of-us-inflation-data/

2024-08-11 13:51:26

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#note1dc9…93sh

2024-08-11 13:51:14

OPINION - Half-way appraisal
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The author, José I. Duarte, provides an analysis of the current state of the Macau economy compared to five years ago. He acknowledges that the economy has changed due to the disruptions caused by Covid-19 and highlights the importance of gambling revenues and the number of visitors as critical indicators. Gambling revenues have recovered relatively fast, stabilizing at around 80% of pre-pandemic levels. The number of visitors has also reached slightly over 80% of pre-pandemic levels, with an increase in visitors from the Greater Bay Area. Visitors' expenditure per capita has increased, leading to a similar level of overall retail sales as before. The unemployment and underemployment rates for residents have returned to 2019 levels, but the participation rate of residents has decreased. The author suggests that the figures in the coming months will reveal whether the recovery is stabilizing and the economy is settling into a different growth model.
#MacauEconomy #Covid19 #GamblingRevenues #NumberOfVisitors #RetailSales #UnemploymentRates
https://www.macaubusiness.com/opinion-half-way-appraisal/

2024-08-05 10:38:44

Asian stocks tank after US data fans recession fears
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Asian stocks plummeted after weak US jobs data fueled fears of a recession in the US; Tokyo's Nikkei tanked more than 12 percent, its worst day since the Fukushima crisis in 2011; Tech firms were the biggest losers, with chip titan TSMC losing nearly 10 percent in Taipei; The yen hit a six-month high against the dollar as expectations of Federal Reserve interest rate cuts increased; The US economy added just 114,000 jobs in July, well below expectations; Speculation is growing that the Fed will lower rates by a full percentage point before January.
#AsianStocks #UsData #RecessionFears #Tokyo #Nikkei #TechFirms #Tsmc #Yen #FederalReserve #InterestRateCuts
https://www.macaubusiness.com/asian-stocks-tank-after-us-data-fans-recession-fears/

2024-07-17 02:15:55

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#note1kqs…j7mk

2024-07-17 02:15:44

IMF raises China's 2024 economic growth forecast to 5 pct
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The International Monetary Fund (IMF) has revised China's 2024 economic growth forecast to 5 percent, up from the previous forecast of 4.6 percent. The revision is attributed to a rebound in private consumption and strong exports in the first quarter. The IMF also maintained its forecast for global growth in 2024 at 3.2 percent, with Asia's emerging market economies driving the global economy. The IMF chief economist expressed concern about the increasing U.S. reliance on short-term funding and rising risks to the domestic and global economy. The update also noted that global disinflation is slowing and there are increased upside risks to inflation.
#Imf #China #EconomicGrowth #Forecast
https://www.macaubusiness.com/imf-raises-chinas-2024-economic-growth-forecast-to-5-pct/

2024-06-03 17:23:00

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#note177x…t0s0

2024-06-03 17:22:49

Stock markets rally on renewed US rate cut hopes
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Equity markets rallied on Monday as a dip in inflation revived hopes the Federal Reserve will cut interest rates this year. The personal consumption expenditures (PCE) index slowed month-on-month to its lowest level since December, providing a boost to investors' sentiment. The report also showed no change from March on a year-over-year basis. Attention now turns to the Friday release of US jobs data, which will provide the latest snapshot of the world's top economy. Asian investors started the week in a buoyant mood, pushing Hong Kong solidly higher. Mumbai piled on more than three percent and the rupee advanced as exit polls suggested India's Prime Minister Narendra Modi was on course to win a third successive term. London, Paris, and Frankfurt were all in positive territory. Bets on US interest rates coming down weighed on the dollar against the yen. Oil prices fluctuated after OPEC and other major producers said they would maintain output levels but start unwinding cuts later in the year.
#StockMarkets #UsRateCut #Inflation #FederalReserve #PceIndex #UsJobsData #AsianInvestors #NarendraModi #Dollar #Yen #OilPrices #Opec
https://www.macaubusiness.com/stock-markets-rally-on-renewed-us-rate-cut-hopes/

2024-06-01 07:20:50

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#note1eg0…fph7

2024-06-01 07:20:39

Gaming revenue hits new post-pandemic high in May at MOP20.2 bln
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Gross gaming revenue (GGR) reached MOP20.19 billion (USD2.52 billion) in May, a 29.7 percent year-on-year increase. This is a new post-pandemic high and represents 88 percent of the GGR recorded in December 2019. Compared to April, last month's revenue saw an 8.9 percent rise. The January-to-May gaming revenue now stands at MOP96 billion (USD12 billion), 47.9 percent more than the first five months of 2023. The government predicts a full-year GGR of MOP216 billion in 2024. May benefited from an influx of visitors during the Labour Day Golden Week and the Buddha's Birthday public holiday on May 15.
https://www.macaubusiness.com/gaming-revenue-hits-new-post-pandemic-high-in-may-at-mop20-2-bln/

2024-05-19 22:20:15

Gaming share of GDP reached 36.2 pct in 2023 – CE
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Chief Executive (CE) Ho Iat Seng announced that the gaming industry accounted for 36.2% of Macau's gross domestic product (GDP) in 2023, meeting the government's economic diversification targets. The aim is to keep the gaming industry's share at around 40% in 2024-2028. Gaming revenue reached a peak of 63% of the city's economic output between 2011 and 2013. In 2019, the share of gaming revenue decreased to 51%. Macau's economy recovered to 80% of the 2019 output in 2023, with gaming revenue reaching MOP183 billion. The International Monetary Fund forecasts a GDP growth rate of 13.9% in 2024, with a total gaming revenue of MOP216 billion. Macau's economic diversification plan focuses on integrated tourism and leisure, as well as designated emerging industries. The government aims to attract more international tourists and promote Macau's integration of Chinese and Western cultural elements. Xia Baolong, the top Beijing official in charge of Macau and Hong Kong affairs, visited Macau and emphasized the city's advantages in promoting its development.
#Macau #Gdp #GamingIndustry #EconomicDiversification #Tourism #CulturalIntegration
https://www.macaubusiness.com/gaming-share-of-gdp-reached-36-2-pct-in-2023-ce/

2024-05-18 18:03:58

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#note16yc…lwzj

2024-05-18 18:03:46

OPINION - Central proactivity on Macau and Hong Kong affairs
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Xia Baolong, director of the Hong Kong and Macau Affairs Office, has been adopting a proactive approach to managing the two special administrative regions. His recent visit to Macau mirrored his visit to Hong Kong, with a focus on infrastructure projects, meetings with political and business elites, and support for the Chief Executive and SAR government. Xia's visit to Macau also highlighted the expansion of Macau's physical space, its autonomy in trade relations, and the emphasis on grassroots-level well-being. The central government's support for the Macau Chief Executive suggests backing for Ho Iat Seng's potential re-election. Overall, the central authorities are taking a proactive role in the development of both Macau and Hong Kong, emphasizing their unique models of 'one country, two systems' and the importance of infrastructure, economic integration, and cultural diversity.
#Macau #HongKong #XiaBaolong #Proactivity #SpecialAdministrativeRegions #Infrastructure #Government #Business #Autonomy #Grassrootslevel #ChiefExecutive
https://www.macaubusiness.com/opinion-central-proactivity-on-macau-and-hong-kong-affairs/

2024-05-07 04:34:44

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#note18ts…kdhs

2024-05-07 04:34:32

Macron takes Xi to French mountains with trade, Ukraine on agenda
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French President Emmanuel Macron is hosting Chinese leader Xi Jinping in the Pyrenees mountains, where they will address trade and the situation in Ukraine. Macron urged Xi not to allow the export of technology that could be used by Russia in its invasion of Ukraine. Xi defended China's stance and warned against using the Ukraine crisis to incite a new Cold War. Trade was also a priority in the talks, with Europe seeking to address trade imbalances and defend its strategic interests. Macron thanked Xi for not imposing customs duties on French cognac amid an ongoing probe.
#Macron #XiJinping #Trade #Ukraine #France #China #Russia
https://www.macaubusiness.com/macron-takes-xi-to-french-mountains-with-trade-ukraine-on-agenda/

2024-04-17 18:04:31

Stocks mixed after selloff as Fed, Middle East dampen sentiment
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Asian markets were mixed Wednesday as Federal Reserve boss Jerome Powell’s indication that interest rates could stay higher for longer offset a rebound following the latest bout of Middle East-fuelled selling. Traders are nervously awaiting Israel’s next move after Iran’s missile and drone attack at the weekend. The lack of an immediate response has seen them focus on the US central bank’s monetary policy plans. A string of hotter-than-expected data on inflation and jobs in the first three months has forced investors to whittle down their bets on how many interest rate cuts the Fed will make this year. Powell all but confirmed that borrowing costs will likely have to remain elevated longer than previously hoped. Observers are now predicting just one or two interest rate cuts at best, starting in July or September. The S&P 500 and Nasdaq both fell in New York, though the Dow eked out a gain. Asian markets were mixed, with Tokyo, Sydney, Seoul, Jakarta, and Bangkok down but Shanghai, Singapore, Wellington, Taipei, and Manila rising. London edged up in the morning. The dollar’s recent rally stalled despite Powell’s comments, though it remains elevated against its peers. South Korea said its finance minister had met his Japanese counterpart to discuss the recent weakness of their currencies, agreeing to take “appropriate actions” to counter extreme volatility. Traders are keeping an eye on developments in the Middle East after Israel’s army chief General Herzi Halevi warned that there would be a response to Iran’s barrage on Saturday, fuelling worries of a region-wide conflict. Oil prices edged down despite the crises in the Middle East, Ukraine, and OPEC output cuts. Tokyo’s Nikkei 225 was down 1.3 percent, Hong Kong’s Hang Seng Index was flat, and Shanghai’s Composite was up 2.1 percent. London’s FTSE 100 was up 0.1 percent. The dollar was down against the yen, up against the euro, and up against the pound. West Texas Intermediate was down 0.5 percent, and Brent North Sea Crude was down 0.4 percent.
#StockMarket #FederalReserve #InterestRates #Inflation #MiddleEast #Iran #Israel #MonetaryPolicy #Currencies #OilPrices
https://www.macaubusiness.com/stocks-mixed-after-selloff-as-fed-middle-east-dampen-sentiment/

2024-04-17 17:36:00

2024-02-08 11:17:12

Festive mood fills Hong Kong's Lunar New Year fairs
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Hong Kong's Lunar New Year fairs have kicked off with a total of 15 fairs across the territory. The largest fair is in Victoria Park, where flower stalls are crowded with people choosing flowers and plants for home decorations. The fair also sells Chinese New Year couplets and decorations with the theme of the Year of the Dragon. This is the first Lunar New Year after Hong Kong returned to normalcy, attracting Chinese mainland tourists. Stall owners have been busy restocking and packing, feeling hopeful for the new year.
#LunarNewYear #Fairs #HongKong #Flowers #ChineseFestival
https://www.macaubusiness.com/festive-mood-fills-hong-kongs-lunar-new-year-fairs/