Most Asian stock indices are falling on Friday following similar dynamics in the US stock market a day earlier.
Investors are concerned that the Federal Reserve will continue aggressive tightening of monetary policy for the foreseeable future due to persistently high inflation, which could negatively affect the US economy.
Traders are waiting for the Fed to raise its base interest rate to 5% per annum next year. Last week, prior to the publication of fresh data on inflation in the US, they assumed a rise to 4.6%, according to futures on the size of the rate.
Consumer prices in Japan rose 3% in September from the same month a year earlier, the country’s Ministry of Interior and Communications said on Friday. Similar rates of increase were recorded in August. They are the highest since September 2014, while the rise in prices was noted for the thirteenth month in a row.
Consumer prices excluding fresh food, a key indicator monitored by the Bank of Japan, rose 3% year-on-year last month after rising 2.8% in August. The indicator exceeded the central bank’s 2% target for the sixth month in a row. At the same time, growth rates were the highest since September 2014.
The value of the Japanese index Nikkei 225 to 8:17 KSK fell by 0.4%.
Including the shares of such large companies as Fast Retailing (-0.9%), Toyota Motor (-0.4%) and Sony Group (-0.8%) become cheaper.
China’s Shanghai Composite rose 0.3% by 8:22 am KST, while Hong Kong’s Hang Seng shed 0.5%.
Shares of Shenzhou International Group Holdings Ltd., which is engaged in the production and sale of knitwear, are the leaders of the decline in quotations on the Hong Kong Stock Exchange. They fell in price by 6.3%.
In addition, the value of Budweiser Brewing Co. APAC (-3.7%), Chow Tai Fook Jewelery Group (-3.4%), sporting goods manufacturer Li Ning Co. (-3.4%).
Casino operator Sands China reported an 11.6% increase in net loss in the third quarter due to anti-coronavirus restrictions in Macau. The company’s shares lose 3.2% in price.
Meanwhile, stock quotes of online retailers Alibaba Group and JD.com Inc. rise respectively by 0.4% and 1.4%, the Internet giant Tencent Holdings Ltd. – by 0.9%.
The South Korean Kospi index decreased by 0.35% by 8:17 am KSK.
Quotes of securities of one of the world’s largest manufacturers of chips and electronics Samsung Electronics Co. rise by 0.9%, while the cost of automaker Hyundai Motor fell by 1.2%.
Share price of Samsung SDI Co. soared 5.9% on the news that the company has completed the construction of an enterprise for the production of components for the production of car batteries. It is expected that production on it will begin in the first quarter of 2023.
The Australian S&P/ASX 200 fell 0.8%. According to the results of the whole last week, it lost more than 1%.
Capitalization of the world’s largest mining companies BHP and Rio Tinto decreased on Friday by 0.7% and 0.8% respectively.
In addition, the shares of all four largest banks in the country fell in price: Commonwealth Bank – by 1.5%, ANZ Bank – by 1.1%, Westpac Banking – by 0.8% and National Australia Bank – by 1.5%.
Oil prices are rising on Friday morning due to rumors about a possible easing of anti-COVID restrictions in China.
The price of December futures for Brent on the London ICE Futures exchange by 8:13 am CST is $92.90 per barrel, which is $0.42 (0.45%) higher than the closing price of the previous session. As a result of trading on Thursday, these contracts fell by 3 cents to $92.38 per barrel.
The price of futures for WTI oil for December in electronic trading on the New York Mercantile Exchange (NYMEX) is $84.98 per barrel by this time, which is $0.47 (0.56%) higher than the final value of the previous session. By the close of the last session, the contract fell 1 cent to $84.51 per barrel.
A positive factor for the oil market was the news about a possible easing of quarantine regulations for tourists in China. The quarantine period could be reduced to 7 days from the current 10, Bloomberg wrote.
Rumors of an easing of restrictive measures in China were perceived by investors as a signal of a potential curtailment of the policy of “zero tolerance” for the coronavirus, which in turn could spur economic growth and increase demand for fuel in the country, writes The Wall Street Journal.
“China was expected to increase oil imports, but there is no increase in spot market activity from the world’s second largest economy,” said StoneX Group analyst Harry Altham. “Such measures could revive the economy, suffering from anti-COVID restrictions, and become a lifeline for struggling air carriers.
Earlier, US President Joe Biden decided to release 15 million barrels from the strategic reserve (SPR) in December.
“Given that this is part of a previously announced large-scale release, the impact on the market is minimal. Such a measure is unlikely to offset the effect of OPEC+ supply cuts,” ING analyst Warren Patterson wrote.
The Administrative Board of the Northern Interregional Territorial Branch of the Antimonopoly Committee of Ukraine (AMCU) has begun considering a case against Terrafood LLC (Terra-Food TM) for the production and distribution of a cheese product, the packaging design of which could mislead consumers .
As reported on the agency’s website on Thursday, the Antimonopoly Committee of Ukraine opened a case on a complaint from a consumer who purchased the Mozzaretta cheese product produced by Terrafood LLC, confusing it with traditional mozzarella cheese due to a similar inscription on the package and its design in the colors of the Italian flag.
“During the consideration of the application, it was found that the dominant inscription in the Latin Mozzaretta placed on the front side of the package, in particular, that the font of this inscription (the letters “TT” are visually similar to “LL”) may give the consumer an erroneous impression regarding the method of manufacture and composition of the product (…) and influence his intention to purchase the product of this enterprise,” the Committee said in a statement.
The AMCU recalled that real mozzarella cheese, in accordance with international standards, may contain starters from lactic and/or aromatic bacteria, cultures of harmless microorganisms, rennet or other safe milk-precipitating enzymes, salt substitute, vinegar, flour and crumbs, in some cases safe dyes , acidity regulators, stabilizers and preservatives.
At the same time, in the composition of the Mozzaretta product under the TM “Terra-Food”, in particular, fats of non-dairy origin were found, which contradicts Article 1 of the Law “On Milk and Dairy Products”.
Given the above, the actions of the manufacturer in terms of product packaging contain signs of a violation of the law “On Protection against Unfair Competition”, the Committee reported and added that consideration of the relevant case had begun.
GC “Terra Food” develops business in three sectors – dairy, meat and agriculture. It is one of the five largest producers of dairy products in the country.
The production capacity of 10 milk processing enterprises of the holding before the Russian invasion was 31,000 tons of cheese, 78,000 tons of butter and vegetable butter, and 61,000 tons of whole milk products per year.
More than 100 types of meat products of the group are produced at the Tulchinsk Meat Processing Plant – more than 6 thousand tons of products per year.
A memorandum of partnership in the field of digital transformation was signed between Ukraine and Switzerland, according to the Telegram channel of the President of Ukraine.
“A memorandum of partnership in the field of digital transformation was signed between Ukraine and Switzerland. We plan to deepen our cooperation to help restore Ukraine through digitalization,” the report says.
The parties also discussed the possibilities of Swiss assistance in supporting digitalization and restoration of telecommunications systems in the recently occupied territories of Ukraine.
President of Ukraine Volodymyr Zelensky called on EU leaders to provide the remaining EUR6 billion of macro-financial assistance by the end of the year, a decision in principle on which was made in late May – early June.
“Thank you for the funds that have already been received, but a decision has not yet been made regarding the remaining 6 billion from this package, which are critically needed this year. And it is in your power to come to an agreement in principle today on providing this assistance to our state” , the President said, speaking on Thursday by video link to members of the European Council.
He also spoke about the need for more support for the implementation of the Ukrainian Fast Recovery Plan.
“You have all this data – what exactly we need. We already have an understanding of the necessary funds. This is 3.5 billion euros this year and about 14 billion euros next year,” Zelensky said.
“And so far we have received zero from these funds. And they are vital. As well as the next tranches of Macrofin for Ukraine are vital,” the head of state stressed.
As reported, in late May-early June, the EU tentatively approved the allocation of new emergency macrofinancial assistance to Ukraine for EUR9 billion, of which EUR1 billion was allocated in early August. The remaining EUR8 billion was expected to come in one tranche, but the final decision on them was delayed. One of the reasons cited is the debate over how these funds should be provided: in the form of loans or grants.
As a result, only EUR2 billion was received this week, while the Vice-President of the European Commission Valdis Dombrovskis said that the third tranche of EUR3 billion is expected in early December.
Ранее “Судебно-юридическая газета” публиковала эксклюзивное обращение Инициативной группы судей относительно судьи Ильичевского районного суда Мариуполя, которая 7 месяцев находилась в плену
26 сентября “Судебно-юридическая газета” публиковала эксклюзивное обращение Инициативной группы судей относительно судьи Ильичевского районного суда Мариуполя, которая 7 месяцев находилась в плену.
Наконец, судья Ильичевского районного суда Мариуполя Юлия Матвеева 17 октября 2022 освобождена из плена.
Освобождение из плена произошло во время соответствующего обмена, когда Украине удалось вернуть 108 женщин.
Напомним, что Юлия Матвеева, вместе с мужем, была задержана представителями так называемой «ДНР» во время попытки выехать из Мариуполя 19 марта. Мать судьи и несовершеннолетнюю 13-летнюю дочь супругов боевики просто оставили на дороге без вещей и средств к существованию.
Информацию об освобождении судьи “Судебно-юридической газете” подтвердил также председатель Рады судей Украины Богдан Монич.
