China Stocks Extend Rout as Slumping Profits Add to Outflow Risk

China’s stocks resumed a rout after a report showed industrial companies’ profits slumped, adding to concern a deepening economic slowdown will spur capital outflows.

The Shanghai Composite Index dropped 0.6 percent to 2,733.88 as of 9:54 a.m., extending bear-market losses to 25 percent since December. Technology and industrial companies led declines. Industrial profits slid 4.7 percent in December from year-earlier levels. The benchmark gauge tumbled 6.4 percent to a 13-month low on Tuesday after data showed outflows hitting an estimated $ 1 trillion last year and some of the nation’s most accurate forecasters said the index may not bottom until it falls to the 2,500 level.

Source: Bloomberg

Sumber :

Asian Stocks Rise as Japan Leads Advance, Industrial Shares Gain

Asian stocks rose after a rally in U.S. equities, with Japanese shares jumping and industrial companies leading gains.

The MSCI Asia Pacific Index gained 0.9 percent to 118.83 as of 9:03 a.m. in Tokyo, while Japan’s Topix index added 2 percent. The regional gauge is heading for a 9.9 percent decline this month as concern about a slowdown in China and a rout in oil and other commodities sent shares tumbling. The Standard & Poor’s 500 Index rebounded 1.4 percent on Tuesday as investors looked past another selloff in Chinese stocks to focus on a rally in crude and better-than-forecast earnings. Attention now turns to central banks, with both the Federal Reserve and the Bank of Japan reviewing policy this week.

E-mini futures on the S&P 500 dropped 0.6 percent. After U.S. cash markets closed, Apple Inc. forecast a decline in sales for the first time in more than a decade, adding to evidence that the market for smartphones is becoming saturated and that expansion in China is no longer enough to maintain the company’s unprecedented run of growth.

Source: Bloomberg

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UK Storm Brings Heavy Rain and High Winds

The “remnants” of the storm that brought severe blizzards to the US is hitting parts of the UK, bringing heavy rain, gales and travel problems.

Western areas have borne the brunt, including Cumbria, where some schools have closed and roads are flooded.

Ferries to the Scottish Islands and Isle of Wight are disrupted, and in Edinburgh, a man was hurt when a broken chimney smashed through a bus window.

The Army is working to help shore up defences in some high-risk communities.

The Met Office has issued yellow – be aware – warnings for rain and there are more than 100 flood warnings and alerts in place.

A first band of heavy rain and high winds is now moving south and east, but a second band is forecast to arrive from the west overnight into Wednesday.

Source : BBC


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