Connect with us

News

Asian Markets Trading Mostly Higher

Published

on

(RTTNews) – Asian stock markets are trading mostly higher on Friday, following the broadly positive cues from Wall Street overnight, with gains from technology stocks were partially offset by weakness from the energy companies. Traders also digested the latest batch of economic data from the U.S., and the European Central Bank’s decision to hike interest rates by 50 basis points, the first rate hike in over a decade. Asian markets ended mixed on Thursday.

The Australian stock market is modestly higher in choppy trading on Friday, extending the gains in the previous two sessions, with the benchmark S&P/ASX 200 moving above the 6,800 level, following the broadly positive cues from Wall Street overnight, with strength in gold miners, technology and financial stocks partially offset by weakness in materials and energy stocks.

The benchmark S&P/ASX 200 Index is gaining 20.50 points or 0.30 percent to 6,814.80, after hitting a low of 6,758.50 and high of 6,816.10 earlier. The broader All Ordinaries Index is up 18.00 points or 0.26 percent to 7,036.40. Australian markets ended modestly higher on Thursday.

Among major miners, Rio Tinto is edging down 0.4 percent, BHP Group is down almost 1 percent, OZ Minerals is edging up 0.5 percent, Mineral Resources is declining almost 2 percent and Fortescue Metals is edging down 0.2 percent.

Oil stocks are lower. Origin Energy is losing more than 1 percent and Santos is slipping 2.5 percent, while Beach energy and Woodside Energy are declining almost 2 percent each.

Among tech stocks, WiseTech Global is edging up 0.4 percent, Zip is adding 3.5 percent and Appen is losing more than 1 percent, while Afterpay owner Block is edging down 0.1 percent. Xero is flat. Among the big four banks, National Australia Bank is up almost 1 percent, while ANZ Banking and Westpac are gaining more than 1 percent each. Commonwealth Bank is flat.

Gold miners are higher. Northern Star Resources and Newcrest Mining are gaining almost 2 percent each, while Gold Road Resources is advancing more than 3 percent, Resolute Mining is surging almost 4 percent and Evolution Mining is adding 1.5 percent.

In economic news, the manufacturing sector in Australia continued to expand in July, albeit at a slower pace, the latest survey from S&P Global said on Friday with a manufacturing PMI score of 55.7. That’s down from 56.2 in June, although it remains above the boom-or-bust line of 50 that separates expansion from contraction. The survey also showed that the services PMI fell to 50.4 in July from 52.6 in June, while the composite PMI slipped to 50.6 from 52.6 a month earlier.

In the currency market, the Aussie dollar is trading at $0.692 on Friday.

The Japanese stock market is modestly higher in choppy trading on Friday after starting the session briefly in the red, extending the gains in the previous six sessions, with the benchmark Nikkei 225 staying below the 27,900 level, following the broadly positive cues from Wall Street overnight, boosted by strength in technology stocks.

The benchmark Nikkei 225 Index closed the morning session at 27,870.33, up 67.33 points or 0.24 percent, after touching a high of 27,910.86 earlier. Japanese shares closed modestly higher on Thursday.

Market heavyweight SoftBank Group is edging down 0.5 percent and Uniqlo operator Fast Retailing is edging down 0.1 percent. Among automakers, Honda is losing more than 1 percent, while Toyota is flat.

In the tech space, Advantest is gaining more than 1 percent, while Tokyo Electron and Screen Holdings are adding almost 1 percent each.

In the banking sector, Mitsubishi UFJ Financial is edging up 0.4 percent, while Sumitomo Mitsui Financial is edging down 0.2 percent and Mizuho Financial is flat.

Among major exporters, Canon is edging up 0.5 percent, while Panasonic is edging down 0.2 percent. Mitsubishi Electric and Sony are flat.

Among the other major gainers, Kawasaki Kisen Kaisha is soaring more than 9 percent and Nippon Yusen K.K. is gaining almost 4 percent, while Mitsui O.S.K. Lines and Keyence are adding more than 3 percent. Konami Group is up almost 3 percent.

Conversely, JGC Holdings, Tokyo Electric Power is losing more than 5 percent and Osaka Gas is declining almost 3 percent.

In economic news, overall consumer prices in Japan were up 2.4 percent on year in June, the Ministry of Internal Affairs and Communications said on Friday. That was in line with expectations and down from 2.5 percent in May. Core CPI, which excludes volatile food prices, was up an annual 2.2 percent – again matching forecasts and up from 2.1 percent in the previous month. On a seasonally adjusted monthly basis, consumer prices were flat – slowing from the upwardly revised 0.3 percent increase in May (originally 0.2 percent).

The latest survey from Jibun Bank said the manufacturing sector in Japan continued to expand in July, albeit at a slower pace, with a manufacturing PMI score of 52.2. That’s down from 52.7 in June, although it remains above the boom-or-bust line of 50 that separates expansion from contraction. The survey also showed that the services PMI fell to 51.2 in July from 54.2 in June, while the composite PMI slipped to 50.6 from 53.2 a month earlier.

In the currency market, the U.S. dollar is trading in the mid-137 yen-range on Friday.

Elsewhere in Asia, New Zealand, China, Hong Kong, Singapore, Malaysia and Indonesia are higher by between 0.1 and 0.7 percent each. South Korea and Taiwan are down 0.5 and 0.1 percent, respectively. On Wall Street, stocks saw significant volatility over the course of the trading session on Thursday but managed to end the day notably higher. The major averages extended a recent upward trend, reaching their best closing levels in over a month.

The major averages saw further upside going into the close, reaching new highs for the session. The Dow climbed 162.06 points or 0.5 percent to 32,036.90, the Nasdaq surged 161.96 points or 1.4 percent to 12,059.61 and the S&P 500 jumped 39.05 points or 1 percent to 3,998.95.

Meanwhile, the major European markets also finished the day mixed. While the German DAX Index dipped by 0.3 percent, the U.K.’s FTSE 100 Index inched up by 0.1 percent and the French CAC 40 Index rose by 0.3 percent.

Crude oil prices tumbled on Thursday, extending losses from the previous session amid concerns about the outlook for energy demand in the near term due to slowing economic growth and rising interest rates. West Texas Intermediate Crude oil futures for September ended lower by $3.53 or 3.5 percent at $96.35 a barrel.

Meanwhile, the major European markets also finished the day mixed. While the German DAX Index dipped by 0.3 percent, the U.K.’s FTSE 100 Index inched up by 0.1 percent and the French CAC 40 Index rose by 0.3 percent.

Crude oil prices tumbled on Thursday, extending losses from the previous session amid concerns about the outlook for energy demand in the near term due to slowing economic growth and rising interest rates. West Texas Intermediate Crude oil futures for September ended lower by $3.53 or 3.5 percent at $96.35 a barrel.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

The Best Recommended Resorts in Nusa Dua Bali

Published

on

The Best Recommended Resorts in Nusa Dua Bali

Nusa Dua is one of Bali’s areas built specifically for tourism in the 1970s. Since then, many luxury hotels and resorts were built everywhere in the Nusa Dua area. For those who want an exciting vacation with family or friends, there are many choices for the bali resort nusa dua .

These accommodations have luxurious facilities ranging from spas, private swimming pools, restaurants, and many more. All resorts in Nusa Dua also have sparkling white sand and calm waves as their view. What are the recommendations for the best resorts in Nusa Dua?

Best Resort Recommendations in Nusa Dua Bali

1. Laguna Resort & Spa

Staying at Laguna Resort & Spa will make you feel very comfortable. When entering the resort, you will be greeted with the sound of a gong and dancers in traditional costumes showing off their artistic talents. Laguna Resort & Spa also provides spacious rooms with large beds and luxurious bathrooms. 

Each room has a tropical garden interspersed with a lagoon pool. This resort also has gym facilities, a spa, and a sumptuous breakfast. There is also a beach bar if you want a cocktail. If you want to stay in a place that offers luxurious facilities and emphasizes local culture, pay a visit to Laguna Resort & Spa. The lodging at this resort is also not so expensive compared to other luxury hotels in Nusa Dua.

2. Resort St. Regis Bali

Located on the sand of Nusa Dua beach, St Regis is the next choice of resort for accommodation options. This resort has a traditional Balinese concept with olive green furnishings. Interestingly, you can swim in a vast lagoon from Resort St. Regis Bali, the size is three times the size of the Olympic swimming pool. 

Furthermore, this resort is also equipped with a thalassotherapy spa. Resort St. Regis Bali also provides a ‘Children’s Learning Center’ facility so parents who bring their children can leave them there. The Children’s Learning Center offers a curriculum to stimulate and entertain children while their parents enjoy the holidays.

3. Hilton Bali Resort

Hilton Bali Resort is perched on a cliff overlooking the beautiful Indian Ocean. You can see Nusa Lembongan clearly from this resort because of its location on a cliff. Hilton Bali Resort is facilitated with a family swimming pool with water slides, an outdoor playground that will make the kids happy, a spa, and a kids club. There are also gazebos and loungers on the private beach. At sunset, there is an observation tower that you and your family can visit to see the fantastic sunset views.

You can visit the lodging recommendations above for those traveling with their family and looking for the best resorts in Nusa Dua, Bali. All of them have extraordinary views with complete and luxurious facilities!

Continue Reading

News

4 Important Tips for Having a Vacation Abroad

Published

on

4 Important Tips for Having a Vacation Abroad

Are you planning to go abroad but still don’t know what to prepare? People dream of going abroad, especially to countries like America and Europe. If this is your first time going abroad, you should check the following tips!

Prepare All Important Documents

The first thing you need to do is prepare important documents. For example, passports, ID cards, visas, and international driving licenses if you are going to drive abroad. Make sure you know whether the country you are going to visit is visa-free or not. For Southeast Asian countries, the Maldives and Turkey are visa-free, so you only have to have a passport. But a visa is still needed if you want to go to South Korea, Europe, or America. Make sure to scan your document and save it in the cloud like Google Drive or iCloud. Oh, yes, remember to check your vaccination status. Because every country needs your health information.

Make Itineraries

Itinerary is important for those who want to travel abroad. The reason is holidays abroad cost a lot of money, so when you can, take advantage of it with a well-planned schedule. Research in detail the tourist destinations you want to visit. For example, what is unique in it, ticket prices, transportation to get there, to the distance from the inn you’re staying. Remember to include places to eat that you want to try. Make sure the place to eat is according to your preferences, such as halal or free of certain food allergies.

Book Tickets in Advance

When you know how long you will be on vacation with the itinerary that has been prepared, it’s time to book plane tickets and lodging. Find cheap tickets by:

  1. Using promos and discounts on travel agent applications.
  2. Comparing which price is lower and what kind of facilities you will get.
  3. Choosing accommodation that fits your budget but is still comfortable.

Oh yes, also remember to check how the pandemic situation is in the country you are going to visit. Do you have to quarantine or not? Because it will affect your itinerary and accommodation. Due to the pandemic conditions that have not fully recovered, check whether there is still Indonesia quarantine after returning from vacation.

Exchange Money and Check Your ATM Cards

Exchange your currency into the destination country’s currency, for example, yen, euros, dollars, won, and others. But remember, don’t carry too much cash because it’s also prone to theft, besides being wasteful. For the rest, you can do cashless transactions. Check your bank’s ATM card to see if it has Visa, MasterCard, or Cirrus logos. This row of stamps indicates that your bank is working with banks abroad. Or you can also use a credit card to make your transaction easier.

Continue Reading

News

Down 43%, Is This Tech Stock Worth Buying Right Now?

Published

on

Down 43%, Is This Tech Stock Worth Buying Right Now?

Skyworks Solutions (NASDAQ: SWKS) announced its fiscal 2022 fourth-quarter results (for the three months ended September 30) on November 3, and the supplier Apple’s stock price has risen 11% since then.

Skyworks beat expectations and showed solid growth at a time when smartphone sales were declining, but forecasts show the chipmaker is about to hit a bump. With that said, let’s take a closer look at the latest results from the chipmaker. Let’s take a closer look at whether the stock can sustain new momentum after losing 43% of its value in 2022.

Skyworks solutions deliver reliable results for non-mobile businesses
Skyworks’ fourth-quarter revenue increased 7% year-over-year to a record $1.4 billion. The company also reported non-GAAP (adjusted) earnings of $3.02 per share, up 15% year-over-year. Skyworks easily justified analyst estimates of $2.91 per share. For the year, the company’s revenue increased 7% to $5.5 billion and earnings rose similarly to $11.24 per share.

The strong growth of chipmakers in the fourth quarter was the result of successful diversification into new markets such as Internet of Things (IoT) and automotive, as well as relationships with major smartphone original equipment manufacturers (OEMs). Yes, it helped make up for it. Weakness in the smartphone market. space. However, it was the non-mobile business that put a lot of effort into Skyworks last quarter.
As CFO Chris Sennesael noted in the report, the company generated $500 million in revenue from broad market segments (counting chip sales for non-mobile applications like IoT), up 30% from the previous year. Last earnings conference call. Broad market companies contributed 36% of Skyworks’ revenue last quarter, up from 29% in the same period last year.

It’s also worth noting that Skyworks earned $2 billion in revenue from this segment for the entire fiscal year. That’s almost 43% more than the $1.4 billion in revenue last fiscal year. The good news is that the company’s business in a wide range of markets can maintain its momentum. This is because, as Skyworks showed in its earnings report, it is attracting new customers in high-growth niches like IoT.

“In IoT, we continue to win new customers and expand our content. We have partnered with Vodafone to launch the UK’s first WiFi 6E platform. We have launched a solution for Fi 6 hotspots.”

Skyworks also enables the deployment of O-RAN (Open Radio Access Network) and delivers record quarterly results in the high-growth automotive business niche. For example, the O-RAN market is expected to grow at an annual rate of 42% until 2030. Meanwhile, according to Mordor Intelligence, the demand for connected cars will grow by 19% per year until 2027.

These catalysts explain why Skyworks expects its broad commercial segment of the market “to be a major driver in FY23 and beyond.”

The mobile business was not in its best last quarter
Skyworks’ mobile business generated approximately $907 million in revenue last quarter (this is total revenue minus $500 million from the broader market business). By comparison, 71% of Skyworks’ $1.31 billion in revenue last year came from its mobile business, worth nearly $931 million.

Thus, the company’s mobile business, which generates most of its revenue, declined year-over-year in the most recent quarter. This is not surprising given that smartphone sales have been declining for the past five quarters. Skyworks considers Apple its biggest client, with the smartphone giant generating 58% of its revenue last year.

Last quarter, Apple shipped 48.5 million smartphones, 6.4% more than last year. However, the overall smartphone market was down 9% year-over-year. And now things could get even worse for Skyworks.

All of this explains why Skyworks management is targeting a sharp drop in sales and profits. The chipmaker expects revenue of $1.3 billion to $1.35 billion and adjusted earnings of $2.59 per share in the first quarter of fiscal 2023. These numbers show double-digit declines in both revenue and earnings compared to the last year.

Continue Reading

Trending