Motor transport provides third of passenger flow through western border of Ukraine in Jan 2023, thousand (graphically)
Source: Open4Business.com.ua and experts.news
Stock indices of the largest countries in the Asia-Pacific region on Friday declined after the negative dynamics of the U.S. stock market.
Consumer prices in Japan rose 3.2 percent year on year in March, according to the country’s Ministry of Internal Affairs and Communications. Thus, inflation slowed down from February’s 3.3% and was the lowest since September 2022.
Consumer prices in Japan, excluding fresh food (a key indicator tracked by the country’s central bank), rose 3.1% in March compared with the same month a year earlier. That matched both the February figure and analysts’ average forecast, Trading Economics reported.
Meanwhile, inflation excluding food and energy increased to 3.8% from 3.5%.
Japan’s Nikkei 225 index was down 0.25% by 8:30 a.m. ET.
Shares of carmakers Nissan Motor Co. (-3.3%) and Mazda Motor (-2.5%) and Internet company Rakuten (-2.6%) were among the leaders of the fall.
In addition, members of the financial industry are getting cheaper, including Mizuho Financial Group Inc. – by 2.3%, SoftBank Group, Dai-ichi Life Holdings Inc. and Mitsubishi UFJ Financial Group Inc. – by 2.1 percent.
Meanwhile, Tokyo Gas Co. (+5.3%), chip maker Advantest Corp. (+3.6%), transportation firm Kawasaki Kisen Kaisha Ltd. (+1.8%) and retailer J. Front Retailing Co. (+1.8%).
China’s Shanghai Composite had fallen 1.4 percent by 8:35 a.m. QE, marking its third straight negative session.
Hong Kong’s Hang Seng index is losing about 1.2%, also due to a decline in the technology sector.
Among them, shares of chipmakers Semiconductor Manufacturing International Corp. and Sunny Optical Technology Group Co. – by 4.1% and 2.9%, respectively, aluminum producer China Hongqiao Group by 4.5%, retailer Alibaba (SPB: BABA) by 3.5%, insurer Ping An Insurance by 3.2% and consumer electronics maker Xiaomi (SPB: 1810) by 2.8%.
South Korea’s Kospi index was down 0.75% by 8:31 a.m. ET.
Shares of steelmaker Posco plummeted 5.9%, automaker Hyundai Motor – 1.3%.
At the same time, the share price of Samsung Electronics Co., one of the world’s largest chip and electronics manufacturers, rose 0.3%.
Australia’s S&P/ASX 200 index was down 0.3 percent by 8:31 a.m. ET.
The capitalization of the world’s largest mining companies BHP and Rio Tinto are down 2.5% and 3.5%, respectively.
Rio Tinto in the first quarter decreased its iron ore shipments by 6% compared to the previous three months and diamond production by 28%. The company cut its 2023 copper output forecast to 590,000-640,000 tons from the previously expected 650,000-710,000 tons.
Oil prices of benchmark grades fell on Thursday to their lowest level since early April and continue their weak decline on Friday morning.
This could be the first week of losing territory in the last five weeks. Among the negative factors is a strengthening U.S. dollar, notes MarketWatch. In addition, traders fear that further tightening of monetary policy by the Federal Reserve and other major central banks could worsen the global economy and reduce the demand for fuel.
The quotations of June futures for Brent at London Stock Exchange ICE Futures made $81.07 per barrel by 8:02 a.m. which is $0.03 (0.04%) lower than the closing price of the previous session. The previous day those contracts fell by $2.02 (2.4%) to $81.1 per barrel.
The price of WTI futures for June oil at NYMEX fell by $0.03, to $77.34 per barrel. At the end of previous session the contracts value decreased by $1.87 (by 2.4%) to $77.37 per barrel.
According to Trading Economics, the decrease in WTI quotations since the beginning of the current week exceeds 6%.
Commercial banks will take into account not 100%, but 120% of the volume of non-cash currency purchases from the population starting April 21 when calculating the amount of cash foreign currency they can sell in the foreign exchange market, starting April 13, 2022.
“The National Bank has consistently taken steps to minimize the multiplicity of exchange rates. This contributes to the stability of the currency market and improves exchange rate expectations. For the same purpose, the NBU is expanding the ability of banks to carry out transactions for the sale of foreign currency in cash to the population,” the National Bank explained its decision on its website on Thursday evening.
He noted that the relevant changes are aimed at preserving favorable conditions in the foreign exchange market.
The NBU specified that the corresponding changes are stated in the decision № 53 as of April 20.
As reported, the volume of non-cash currency purchases by banks declined to $300.4 mln in March from $462.1 mln in February and $523.9 mln in January. Hryvnia appreciation at the cash market by 1.15 UAH in February, and in March by another 1.2 UAH – to 37.75 UAH/$1, with official rate 36.57 UAH/$1, reduced interest in buying non-cash currency by placing it on deposit for at least three months.
The volume of non-cash currency sales by population in March slightly increased – to $153.3 mln from $123.1 mln in February, returning to the level of January.
As for cash currency, its purchase and sale increased compared to February: purchase – from $1.185 billion to $1.512 billion, sale – from $1.082 billion to $1.235 billion.
At the cash market in April, the hryvnia, after strengthening to 37.2 UAH/$1, has weakened to 38 UAH/$1 by now.
Energy imports to Ukraine in 2021-2022
Source: Open4Business.com.ua and experts.news
Fiona MacAulay, a non-executive director of British mining company Ferrexpo plc with assets in Ukraine, due to her appointment as also a non-executive director of Dowlais Group Plc, which became a public company, will leave the group after the 2023 annual shareholders meeting scheduled for May 2.
“Pursuant to Listing Rule 9.6.14R(2), Ferrexpo plc (LSE: FXPO) makes the following notice with respect to Fiona McAuley, senior independent director and non-executive director of the company. In connection with her current appointment as a non-executive director of Dowlais Group Plc, Ms. McAuley has informed the company that Dowlais Group Plc has become a publicly listed company on the London Stock Exchange effective April 20, 2023,” Ferrexpo stated in an announcement on the London Stock Exchange Thursday.
As stated in Ferrexpo’s 2023 annual general meeting notice, Fiona McAuley will step down as non-executive chairman and chairman of the compensation committee following the 2023 annual general meeting scheduled for May 2, 2023.
Earlier, Ferrexpo’s independent non-executive director, Ann-Christin Andersen, declined to run for the company’s next board of directors in May 2023.
“Independent non-executive director Ann-Christin Andersen has notified the board that she will not run for re-election at the company’s next annual general meeting in May 2023,” Ferrexpo’s annual report reported.
Ferrexpo is an iron ore company with assets in Ukraine.
Ferrexpo owns 100% of Yeristovsky GOK LLC and 99.9% of Belanovsky GOK LLC. Before the court ruling in September 2022, Ferrexpo also owned 100% of Poltava Mining and Processing Division PJSC.
