Euro zone Aug economic sentiment eases but selling price expectations at record high
Euro zone economic sentiment has eased more than expected in August from a record high in July, hit by a sharp drop in optimism in France and the Netherlands, while selling price expectations in industry peaked, signalling inflationary pressure.
China Huarong in talks with investors after $16 bln loss
Chinese state-owned asset manager China Huarong Asset Management (2799.HK) sought on Monday to turn the page on a deep annual loss, as its chairman said it was in talks with potential new strategic investors alongside a CITIC-led consortium.
MapmyIndia targets valuation of up to $817 mln with IPO filing this week – source
MapmyIndia, which powers Apple (AAPL.O) maps in India, will file draft papers for an initial public offering worth 10-12 billion rupees ($136-$163 million) this week, a source with direct knowledge of the matter said.
Fortescue posts record profit, dividend but cuts management bonuses
Fortescue Metals Group Ltd (FMG.AX) reported its highest ever annual profit and dividend on Monday due to sky-high iron ore prices but senior management received a surprise cut to bonus payments.
China tightens scrutiny on $9.3 trillion fund industry
China’s top securities regulator pledged on Monday to crack down on mismanaged private funds and weed out fake ones, as the government becomes more assertive in dealing with an industry worth 60 trillion yuan ($9.28 trillion).
Japan’s retail sales extend gains but COVID-19 challenges persist
Japan’s retail sales rose for a fifth straight month in July, beating expectations as the consumer sector continued its recovery, although a coronavirus resurgence has cast doubts over the spending outlook.
Oil steadies as Hurricane Ida weakens, OPEC+ in focus
Oil steadied on Monday, giving up most of an earlier rally to a four-week high, as Hurricane Ida weakened after forcing shutdowns of U.S. Gulf oil production, and OPEC+ looked set to go ahead with a planned oil output increase.
Analysis: Powell’s wait-and-see speech reassures some investors
U.S. Fed Chair Jerome Powell’s wait-and-see approach in a much-anticipated address on Friday gave investors and market participants some reassurance that the central bank’s extraordinary efforts to prop up the economy were likely to support riskier assets a while longer.
Marketmind: Just a little bit longer
A consensual takeaway from Federal Reserve Chairman Jerome Powell’s remarks at the Jackson Hole Symposium is that investors will be able to dirty dance to the beat of the Fed’s $120 billion monthly asset purchases for just a little bit longer.
China’s Sinopec posts $6 bln H1 profit on rebounding oil prices, better demand
China Petroleum & Chemical Corp (600028.SS) on Sunday reported a 39.15 billion yuan ($6.05 billion) net profit for the first six months of 2021 on the back of renewed fuel demand and a rebound in oil prices amid a recovery from the impact of COVID-19.
