Chief Stock Market Correspondent, EMEA
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Aug 1, 2013

Asian shares, commodities up on China PMI; dollar off 6-week low

TOKYO/SYDNEY (Reuters) – Asian shares and commodity prices rose on Thursday after China’s official manufacturing activity data came in better than expected, easing some concerns of a sharp slowdown in the world’s second-largest economy.

The Australian dollar, which is seen as a proxy of Chinese growth because of the countries’ strong trade links, pulled away from a three-year trough of $0.8910 hit in early deals. The currency was last at $0.8974, up 0.3 percent on the day.

Jul 31, 2013

Dollar steady before Fed, China stocks up on growth pledge

TOKYO (Reuters) – Chinese shares gained after Beijing pledged to keep economic growth stable in the second half of the year, while the dollar held onto slight gains as market momentum stalled ahead of the outcome of the U.S. Federal Reserve policy meeting on Wednesday.

The dollar was steady against a basket of major currencies after a 0.2 percent rise on Tuesday. The dollar index is down 1.6 percent in July and set to post a second straight monthly loss for the first time since the turn of the year.

Jul 31, 2013

Asian shares, dollar steady ahead of Fed outcome

TOKYO, July 31 (Reuters) – Asian shares were flat on
Wednesday and the dollar held onto some slight gains as market
momentum stalled ahead of the outcome of the U.S. Federal
Reserve policy meeting and release of U.S. GDP data.

The dollar was steady against a basket of major
currencies after a 0.2 percent rise on Tuesday. The dollar index
is down 1.6 percent in July and set to post a second straight
monthly loss for the first time since the turn of the year.

Jul 26, 2013

Asian shares edge higher, stronger yen hurts Nikkei

TOKYO (Reuters) – Tokyo shares fell sharply on Friday as the yen rose to a two-week high versus the dollar, with investors turning cautious ahead of the U.S. Federal Reserve’s policy meeting next week.

A Wall Street Journal report that the Fed may debate changing its forward guidance to help ram home its message that it will keep interest rates low for a long time to come put the dollar on the back foot overnight. But most economists and traders expect the Fed could start tapering in September.

Jul 26, 2013

Dollar near five-week low, Japan stocks tumble

TOKYO (Reuters) – Tokyo shares fell sharply on Friday as the yen rose to a two-week high versus the dollar, with investors turning cautious ahead of the U.S. Federal Reserve’s policy meeting next week.

A Wall Street Journal report that the Fed may debate changing its forward guidance to help ram home its message that it will keep interest rates low for a long time to come put the dollar on the back foot overnight. But most economists and traders expect the Fed could start tapering in September.

Jul 24, 2013

Ten-year JGB yield at 2-month low, longer-maturities underperform

TOKYO, July 24 (Reuters) – Yields on benchmark 10-year
Japanese government debt dipped on Wednesday, matching a
two-month intraday low touched in the previous session after the
Bank of Japan offered to buy more bonds as part of its stimulus
drive to revive the economy.

Longer-maturities underperformed, ahead of the Ministry of
Finance’s auction of 1.2 trillion yen ($12 billion), 20-year
bonds on Thursday, leading a steepening in the long-end of the
yield curve.

Jul 23, 2013

year yield hits 2-month low, superlongs underperform

TOKYO, July 23 (Reuters) – Yields on 10-year benchmark
Japanese government bonds slipped to two-months low on Tuesday
as some investors were forced to cover their bearish positions
after the weekend’s election result failed to spark a rise in
yields as they had expected.

Gains in the 10-year JGB prices and futures were trimmed in
the afternoon session as the Nikkei share average rose.

Jul 22, 2013

Ten-year JGB yield falls to 2-month low after Abe’s big election win

TOKYO, July 22 (Reuters) – Yields on benchmark 10-year
Japanese government bonds hit a two-month low on Monday, helped
by stocks paring early gains as investors took profits after
Prime Minister Shinzo Abe’s ruling bloc scored a big election
win over the weekend as expected.

The market was also supported by the Bank of Japan’s offer
to buy 650 billion yen ($6.47 billion) worth of JGBs with
residual maturities of five to 10 years and more than 10 years,
as part of its radical plan to pull the country out of
deflation.

Jul 19, 2013

Nikkei pulls back from 8-week high on profit-taking before election

TOKYO, July 19 (Reuters) – Japan’s Nikkei average shed 1.5
percent on Friday, reversing an early rise to an eight-week peak
and ending a five-day winning run, with traders citing selling
of futures led by global macro funds before the upper house
election this weekend.

The Nikkei ended down 218.59 points at 14,589.91,
holding below 14,596, the 61.8 percent retracement of its slide
from May 23 to June 13. Earlier in the session, it climbed to
14,953.29.

Jul 19, 2013

Nikkei retreats from 8-week high on profit-taking before election

TOKYO, July 19 (Reuters) – Japan’s Nikkei share index
dropped as much as 2.7 percent on Friday morning, reversing an
early rise to an eight-week peak, with traders citing selling of
futures led by global macro funds.

By the midday break, the Nikkei was down 1.1 percent
at 14,647.61, after earlier trading as high as 14,953.29. The
index is on track to snap a five-day winning streak.

    • About Dominic

      "I am head of the European stock markets team based in London. Before that, I was with Reuters Hong Kong for more than 10 years, covering politics, banking, macro-economy and Asian G-3 currency bonds and credit."
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