Tag: WSJ-PRO-NP

Basic Materials Roundup: Market Talk
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Basic Materials Roundup: Market Talk

The latest Market Talks covering Basic Materials. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.1652 GMT – Demand for chemical products will remain constrained in 2024, as major economies face inflation and higher interest rates, Fitch Ratings says. The industry will also feel the impact of a slower-than-expected recovery in China, according to Fitch. The neutral sector outlook reflects expectations that “conditions will not materially improve from the bottom-of-the-cycle levels that prevailed in 2023,” the agency says. Recent years have seen a buildup of “significant” new global capacity, which puts more pressure on chemical makers, Fitch says, adding this may “lead to the closure of uncompetitive assets, especially in regions disadvantaged by higher ener...
Philippine Central Bank Stands Pat on Rates
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Philippine Central Bank Stands Pat on Rates

Dec. 14, 2023 2:28 am ET|WSJ ProThe Philippine central bank left its benchmark rates unchanged Thursday, saying the risk of higher inflation in the populous Southeast Asian nation will remain into 2024.The Bangko Sentral ng Pilipinas said it would keep its overnight reverse repurchase rate steady at 6.50%, in line with the unanimous expectation of analysts polled by The Wall Street Journal. It held its benchmark lending rate at 7.00%.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Glynn’s Take: Squeeze on Australian Households Worse Than Thought
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Glynn’s Take: Squeeze on Australian Households Worse Than Thought

Dec. 13, 2023 9:21 pm ET|WSJ ProSYDNEY—The squeeze on Australian household budgets appears much worse than thought, with a sharp surge in tax payments adding to the pain already being felt from soaring interest rates.For the Reserve Bank of Australia, which outwardly at least still appears hawkish, the pain being felt across suburbia looks set to quash any remaining thoughts of a further rise in interest rates next year.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Financial Services Roundup: Market Talk
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Financial Services Roundup: Market Talk

The latest Market Talks covering Financial Services. Exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.0348 GMT – Australia’s comparatively drier weather should help protect insurer profitability due to lower catastrophe costs, say Morgan Stanley analysts in a note. With rainfall in Australian capital cities at 10-year lows in the year to date, IAG and Suncorp are being set up to over-earn in FY 2024, MS says. History shows that a 2%-3% change in domestic motor vehicle insurance loss ratios is possible from an increase or reduction in rainfall, although this will also depend on how well insurers manage pricing versus claims inflation, says MS. At the same time, a new government reinsurance pool should protect insurers from Cyclone Jasper, and help them come in below the...
Economists Keep Singapore 2023 Growth Forecast Steady, Trim 2024 View in MAS Survey
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Economists Keep Singapore 2023 Growth Forecast Steady, Trim 2024 View in MAS Survey

Dec. 12, 2023 11:04 pm ETSINGAPORE—Experts surveyed by Singapore’s central bank have maintained their economic growth forecast for this year, but trimmed their views for 2024, flagging risks from an external slowdown.The Monetary Authority of Singapore’s December survey, released Wednesday, showed that the median projection of economists and analysts is for gross domestic product growth of 1.0% in 2023. That is unchanged from the previous quarterly survey, in which the forecast was lowered from 1.4%.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
ADB Raises Growth Forecasts for Asia Despite Continued Headwinds
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ADB Raises Growth Forecasts for Asia Despite Continued Headwinds

The economic outlook for Asia seems upbeat despite global challenges, the Asian Development Bank said as it raised growth forecasts for the region.Citing resilient economic activity in the face of persistent headwinds, the Manila-based multilateral bank now expects developing Asia to record growth of 4.9% for 2023. That is up from the 4.7% it had projected in September. It kept its 2024 forecast for the area, which comprises 46 of its members, including China, South Korea and India, at 4.8%.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Japan Manufacturers Sentiment Improves for Third Straight Quarter
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Japan Manufacturers Sentiment Improves for Third Straight Quarter

TOKYO—Sentiment among large Japanese manufacturers rose to the highest level since March 2022 during the three months to December, supported by a sharp recovery in the auto sector.The main index for sentiment among large manufacturers was +12, compared with +9 in September, according to the Bank of Japan’s quarterly Tankan corporate survey released Wednesday. That was higher than economists’ forecast for +10 and marked the third straight quarter of improvements.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Financial Services Roundup: Market Talk
World

Financial Services Roundup: Market Talk

The latest Market Talks covering Financial Services. Exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.1231 ET – Mortgage rates falling from a 23-year high have brought some early holiday cheer for home shoppers and sellers. A Zillow market report for November shows monthly costs for a new mortgage are falling, inventory is trending back toward normal, and price cuts are uncharacteristically common. Mortgage rates are still above 7%, but price cuts are surprisingly common, and mortgage costs eased a bit. These factors favor buyers who are reluctant to pause their home search in the off-season. Buyers received a bit of relief as monthly mortgage costs on a typical home purchase fell 1.5% from October to November. Affordability improved, too, with mortgage payments, as a ...