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Economic data out of China provides early support, as the markets look ahead Eurozone and U.S data later in the day. Geopolitics will also be in focus…...
The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). We'll apply a basic P/E......
Dec.01 -- William Ma, partner and co-chief investment officer of Gopher Asset Management, talks about Asian and U.S. stocks. He speaks with David Ingles and Tom Mackenzie on "Bloomberg Daybreak: China Open."...
China's factory activity unexpectedly expanded at the quickest pace in almost three years in November, with solid increases in output and new orders, a private business survey showed on Monday. The Caixin/Markit Manufacturing Purchasing Managers' Index (PMI) index rose to 51.8 in November from 51.7 in the previous month. Zhengsheng Zhong, director of macroeconomic analysis at CEBM Group, noted both domestic and overseas demand rose in November....
It’s back into the red for the majors. Failure to move through to key levels by late morning could add more pressure later in the day....
(Bloomberg) -- The latest bond default by a Chinese industrial group at the epicenter of a regional debt storm is escalating concerns about a cluster of private firms entangled in risky financing. Shandong-based Xiwang Group Co., which failed to make good on a delayed repayment on a local bond, is scrambling to refinance and avoid deeper trouble after triggering cross-default clauses on other bonds.What’s the company:A corn oil and steel processor founded in 1986, Xiwang Group traces its roots to a small business from an impoverished village. It has since grown into a prominent local private conglomerate that also has a presence in logistics, property and trade. Based in Zouping county in the eastern Shandong province, the group controls three listed companies: Xiwang Foodstuffs Co., Xiwang Special Steel Co. and Xiwang Property Holdings Co.The group has total assets of about 49.8 billion yuan ($7.1 billion) and total liabilities of about 30.7...
(Bloomberg) -- Palm oil’s meteoric rally in the past few weeks will almost certainly come with a cost -- shrinking sales to its largest customer.India, the world’s biggest buyer, will shift some purchases to other edible oils this winter after palm’s surge of about 30% from last month’s low. Palm’s discount to top rival soybean oil has contracted to the smallest in almost a decade, reducing its traditional appeal as a cheaper vegetable oil.“Higher prices are a deterrent for buyers,” said Gnanasekar Thiagarajan, head of trading and hedging strategies at Kaleesuwari Intercontinental. “The Indian market was flush with oil before this rally started heating up. That’s why there’s no rush to buy.”While India typically reduces its imports of palm oil during the three months starting December, a bigger than usual decline in sales to the South Asian nation could dent palm’s rally. India mainly imports palm from Indonesia and Malaysia, the...
