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Tag: Nikkei

  • Asian Shares Hold Flat as Investors Await Nvidia Earnings and US Sanctions Plan

    Asian Shares Hold Flat as Investors Await Nvidia Earnings and US Sanctions Plan

    Asian stock benchmarks traded flat on August 24 as investors held back ahead of Nvidia’s earnings and impending US sanctions on Iran. Regional tech exporters stayed cautious after sharp swings last week.

    Tokyo’s Nikkei index held steady following a 4 per cent drop the previous week, while South Korean shares fell 0.8 per cent and Taiwan slipped 0.5 per cent. The broader MSCI Asia-Pacific index outside Japan declined 0.2 per cent in morning trading.

    Tech Earnings and Jackson Hole Outlook

    Consumer electronics supply chains and semiconductor manufacturers across Asia are focused on chipmaker Nvidia, which reports earnings on August 26. Analysts expect quarterly revenue to double to roughly US$92 billion, with full-year revenue guidance projected between US$103 billion and US$105 billion.

    Regional equity markets are also tracking the outlook for US monetary policy. Federal Reserve Chairman Kevin Warsh will address the Jackson Hole economic symposium on August 28, with money markets pricing a 40 per cent probability of a rate increase on September 16 and a full move by December.

    US Treasury yields have continued to pressure equity valuations across the Pacific. Yields on 30-year US debt hovered at 5.2760 per cent, close to a 19-year peak of 5.3371 per cent, despite Treasury Secretary Scott Bessent announcing plans to double government bond buybacks.

    For Asian manufacturers and retail supply chains, high borrowing costs in the US and volatile currency markets keep export financing and inventory management under pressure. When long-term yields remain near multi-decade highs, valuations across Asian tech suppliers face tighter scrutiny from international funds.

    Trade Disputes and Commodity Pressures

    Energy and shipping corridors remain volatile as Bessent prepares to outline fresh sanctions on Iran, which maintains naval control over the Strait of Hormuz. Brent crude slipped 1.0 per cent to US$93.43 a barrel after climbing 6.6 per cent last week, while US crude fell 1.1 per cent to US$86.14.

    Cross-border retail trade faces additional frictions following a breakdown in US-Canada trade negotiations. Canadian Prime Minister Mark Carney confirmed reciprocal tariffs on US imports, covering electronics, appliances, dairy, steel, agricultural equipment, and pulp and paper.

    Gold prices advanced 0.4 per cent to US$4,623 an ounce, positioning bullion for a monthly gain exceeding 14 per cent. Attention now shifts to upcoming US core inflation figures, expected to hold at 3.3 per cent for July.

  • 2015 ends well for private sector in Singapore

    2015 ends well for private sector in Singapore

    Last December proved another positive month for the private sector, with overall business and operating conditions holding up.

    The Nikkei purchasing managers’ index (PMI), which is a proxy for business activity, inched down from 52.2 in November to 52.1 last month. A reading of above 50 signals expansion.

    Output growth was sustained and still noticeable, despite the slight decline since November.

    An official PMI representing only factory activity, out on Monday, indicated a sixth consecutive month of contraction in the manufacturing industry, with a reading of 49.5 for last month, from November’s 49.2 reading.

    The Nikkei Singapore PMI is derived from a survey by Nikkei and Markit Economics. Data is compiled from monthly questionnaires sent to executives in over 400 private sector firms that represent the structure of Singapore’s economy, including manufacturing, services, construction and retail.

    The report said: “The health of the economy has now strengthened in each of the past seven months, though the rate of improvement remained moderate overall.”

    It found that foreign client demand softened last month owing to new export-order growth slowing to a modest rate since November.

    Costs for firms also rose at the quickest rate in 11 months, said to have been driven by faster increases in both purchasing prices and staffing costs. “Companies only passed on part of their higher cost burdens, however, and raised their selling prices marginally,” said the survey.

    Economist Annabel Fiddes at Markit said: “Firms took a cautious approach to employment and purchasing activity, with staff numbers little changed in December and input buying rising only slightly.”

    She said this suggests that growth projections for the start of this year remain muted, as companies wait for a “much- needed pick-up in client demand”.

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