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United Kingdom

Anushka Trivedi

Woodside expands Scarborough gas plan as oil slump drags down LNG prices in its wake

22 Oct 2020

MELBOURNE/BENGALURU Australia's Woodside Petroleum Ltd posted a 42% fall in third-quarter revenue on Thursday, missing analysts' estimates as realised prices were weaker than expected, but the company said it expects prices to have bottomed out for now.

Australia shares gain as RBA hints at easing cash rate

15 Oct 2020

Oct 15 Australian shares rose on Thursday after the central bank signalled it was considering an interest rate cut, while New Zealand stocks looked set to snap their 11-session winning streak.

New Zealand's a2 Milk forecasts weaker revenue on disruption to Chinese sales, shares plunge

28 Sep 2020

New Zealand's a2 Milk Co Ltd forecast lower first-half revenue on Monday as lockdown measures in Australia's Victoria state hurt its informal Chinese sales channel more than expected, sending its shares down more than 14%.

UPDATE 2-NZ's a2 Milk forecasts weaker revenue on disruption to Chinese sales, shares plunge

28 Sep 2020

* ATM shares mark worst day since Aug. 21, 2019 (Recasts lead, adds share price and comment)

EMERGING MARKETS-Indonesia, India lead Asia stocks higher as economic worries cap gains

25 Sep 2020

* Graphic: World FX rates http://tmsnrt.rs/2egbfVh * Graphic: Foreign flows into Asian stocks https://tmsnrt.rs/3lKhL5I * Indonesia, India markets jump 2% * MYR flat as Malaysia on FTSE Russell bond index watchlist By Anushka Trivedi Sept 25 India and Indonesia shares led gains in Asia on Friday as signs of progress on U.S. fiscal stimulus eased the pressure on stock markets globally, although concerns about a second wave of coronavirus infections capped gains again. Asian stocks tracked Wall Street's strong finish overnight after a U.S. lawmaker said Democrats in the House of Representatives were working on a $2.2 trillion stimulus package to support the pandemic-ravaged economy. India and Indonesia stocks gained about 2% each. Jakarta's main index, weighed down by a new wave of virus cases and concerns over moves to change its central bank law, had shed more than 4% this week. A resurgence in COVID-19 infections across Europe, along with weak economic indicators, led world stocks to mark some of their worst weekly declines in months. "From an investment perspective, the economic outlook as we enter the final stretch of 2020 is as uncertain as ever," BCA Research analysts said in a client note. "The potential for renewed lockdowns, a fiscal cliff in the United States, political uncertainty due to Brexit, and the possibility of a contested U.S. election all make for a very complex decision tree." Other Asian equity markets posted modest gains on Friday, with Singapore, Malaysia and South Korea adding 0.3% to 0.8%. South Korea's KOSPI was down 5.5% for the week, its worst performance since March. In China, a strong influence over many of the region's markets, the yuan rose 0.2% after news that the country's government bonds would be included in FTSE Russell's flagship World Government Bond Index (WGBI). In the same announcement by FTSE Russell, Malaysian bonds remained on a waiting list for possible removal, holding back the Malaysian ringgit, which has also suffered from fresh political turbulence in Kuala Lumpur this week. Malaysian 10-year bond yields rose around 1 basis point, touching their highest since mid-July. HIGHLIGHTS ** Malaysia's 10-year benchmark yield is up 0.70 basis points at 2.765% ** Top gainers on the Jakarta stock index include Alfa Energi Investama Tbk PT up 35% and Borneo Olah Sarana Sukses Tbk PT up 33.7% ** Top gainers on the Singapore STI include Mapletree Logistics Trust up 1.49% and Comfortdelgro Corporation Ltd up 1.41% Asia stock indexes and currencies at 0733 GMT COUNTRY FX RIC FX DAILY % FX YTD % INDEX STOCKS STOCKS DAILY % YTD % Japan +0.09 +3.13 0.51 -1.91 China +0.20 +2.19 -0.12 5.55 India +0.37 -3.05 1.77 -9.63 Indonesia -0.03 -6.53 1.90 -21.67 Malaysia +0.02 -1.82 0.48 -5.09 Philippines +0.12 +4.58 -0.12 -25.29 S.Korea +0.03 -1.36 0.27 3.69 Singapore +0.15 -2.09 0.83 -23.32 Taiwan +0.35 +3.05 -0.26 1.97 Thailand +0.29 -5.05 -0.07 -21.10 (Reporting by Anushka Trivedi in Bengaluru, Editing by Patrick Graham and Devika Syamnath)

EMERGING MARKETS-Indonesia, India lead Asia stocks higher as economic worries cap gains

25 Sep 2020

* Graphic: World FX rates http://tmsnrt.rs/2egbfVh * Graphic: Foreign flows into Asian stocks https://tmsnrt.rs/3lKhL5I * Indonesia, India markets jump 2% * MYR flat as Malaysia on FTSE Russell bond index watchlist By Anushka Trivedi Sept 25 India and Indonesia shares led gains in Asia on Friday as signs of progress on U.S. fiscal stimulus eased the pressure on stock markets globally, although concerns about a second wave of coronavirus infections capped gains again. Asian stocks tracked Wall Street's strong finish overnight after a U.S. lawmaker said Democrats in the House of Representatives were working on a $2.2 trillion stimulus package to support the pandemic-ravaged economy. India and Indonesia stocks gained about 2% each. Jakarta's main index, weighed down by a new wave of virus cases and concerns over moves to change its central bank law, had shed more than 4% this week. A resurgence in COVID-19 infections across Europe, along with weak economic indicators, led world stocks to mark some of their worst weekly declines in months. "From an investment perspective, the economic outlook as we enter the final stretch of 2020 is as uncertain as ever," BCA Research analysts said in a client note. "The potential for renewed lockdowns, a fiscal cliff in the United States, political uncertainty due to Brexit, and the possibility of a contested U.S. election all make for a very complex decision tree." Other Asian equity markets posted modest gains on Friday, with Singapore, Malaysia and South Korea adding 0.3% to 0.8%. South Korea's KOSPI was down 5.5% for the week, its worst performance since March. In China, a strong influence over many of the region's markets, the yuan rose 0.2% after news that the country's government bonds would be included in FTSE Russell's flagship World Government Bond Index (WGBI). In the same announcement by FTSE Russell, Malaysian bonds remained on a waiting list for possible removal, holding back the Malaysian ringgit, which has also suffered from fresh political turbulence in Kuala Lumpur this week. Malaysian 10-year bond yields rose around 1 basis point, touching their highest since mid-July. HIGHLIGHTS ** Malaysia's 10-year benchmark yield is up 0.70 basis points at 2.765% ** Top gainers on the Jakarta stock index include Alfa Energi Investama Tbk PT up 35% and Borneo Olah Sarana Sukses Tbk PT up 33.7% ** Top gainers on the Singapore STI include Mapletree Logistics Trust up 1.49% and Comfortdelgro Corporation Ltd up 1.41% Asia stock indexes and currencies at 0733 GMT COUNTRY FX RIC FX DAILY % FX YTD % INDEX STOCKS STOCKS DAILY % YTD % Japan +0.09 +3.13 0.51 -1.91 China +0.20 +2.19 -0.12 5.55 India +0.37 -3.05 1.77 -9.63 Indonesia -0.03 -6.53 1.90 -21.67 Malaysia +0.02 -1.82 0.48 -5.09 Philippines +0.12 +4.58 -0.12 -25.29 S.Korea +0.03 -1.36 0.27 3.69 Singapore +0.15 -2.09 0.83 -23.32 Taiwan +0.35 +3.05 -0.26 1.97 Thailand +0.29 -5.05 -0.07 -21.10 (Reporting by Anushka Trivedi in Bengaluru, Editing by Patrick Graham and Devika Syamnath)

EMERGING MARKETS-Asian stocks, currencies steady after rough week

25 Sep 2020

* Graphic: World FX rates http://tmsnrt.rs/2egbfVh * Graphic: Foreign flows into Asian stocks https://tmsnrt.rs/3lKhL5I * S. Korea stocks on course for worst week since March * MYR flat as Malaysia on FTSE Russell bond index watchlist By Anushka Trivedi Sept 25 Most Asian emerging stocks and currencies eked out modest gains on Friday, steadying as signs overnight of moves to deliver more U.S. fiscal stimulus calmed some of the worst bouts of selling on global stock markets in months. Wall Street had closed higher on signs that Democrats in the House of Representatives were working on a $2.2 trillion coronavirus stimulus package that could be voted on next week. "Today is largely consolidative after consecutive days of decline," said Christopher Wong, senior FX strategist at Maybank in Singapore. India and Indonesia were the best performers with gains of more than 1% in morning trade. Jakarta's main index, weighed down a new wave of coronavirus infections and concerns over moves to change its central bank law, had shed more than 4% this week. Other Asian equity markets made more modest gains, with the Philippines, Malaysia and South Korea adding between 0.4% to 0.8%, and were still set to register heavy losses for the week. South Korea's KOSPI was down 5.2% for the week, its worst performance since March. Concerns about a second round of COVID-19 infections that is spreading across Europe and weak economic indicators have made markets bearish this week. "The increasingly worrying 'second round' COVID risks, which have showed up in Services PMIs in Europe, point to a sputtering and uneven recovery without appropriate and timely policy intervention," Mizuho Bank's Riki Ogawa said. In China, a strong influence over many of the region's markets, the yuan rose 0.2% after news that China's government bonds would be included in FTSE Russell's flagship World Government Bond Index (WGBI). Once included, China's market yield will be the second highest in the FTSE WGBI index based on current prices, bringing in inflows of about US$140 billion, Goldman Sachs analysts said. In the same announcement by FTSE Russell, Malaysian bonds remained on a waiting list for possible removal, holding back the Malaysian ringgit, which has also suffered from a fresh political turbulence in Kuala Lumpur this week. HIGHLIGHTS ** Malaysia's 3-year benchmark yield is up 1.6 basis points at 1.969% ** Top gainers on the Jakarta stock index include Indofarma Tbk PT up 24.89% and Pyridam Farma Tbk PT up ​24.84% ** Top gainers on the Singapore STI include Mapletree Logistics Trust up 1.49% and Comfortdelgro Corporation Ltd up 1.41% Asia stock indexes and currencies at 0424 GMT COUNTRY FX RIC FX DAILY % FX YTD % INDEX STOCKS STOCKS DAILY % YTD % Japan -0.03 +3.02 0.43 -1.98 China +0.15 +2.14 -0.24 5.42 India +0.00 -3.40 1.22 -10.12 Indonesia -0.03 -6.53 1.41 -22.04 Malaysia +0.02 -1.82 0.34 -5.22 Philippines +0.10 +4.56 0.47 -24.85 S.Korea +0.17 -1.22 0.69 4.13 Singapore +0.01 -2.23 0.46 -23.61 Taiwan +0.39 +3.09 -0.29 1.93 Thailand +0.19 -5.14 -0.31 -21.28 (Reporting by Anushka Trivedi in Bengaluru, Editing by Patrick Graham & Simon Cameron-Moore)

EMERGING MARKETS-Asian stocks, currencies steady after rough week

25 Sep 2020

* Graphic: World FX rates http://tmsnrt.rs/2egbfVh * Graphic: Foreign flows into Asian stocks https://tmsnrt.rs/3lKhL5I * S. Korea stocks on course for worst week since March * MYR flat as Malaysia on FTSE Russell bond index watchlist By Anushka Trivedi Sept 25 Most Asian emerging stocks and currencies eked out modest gains on Friday, steadying as signs overnight of moves to deliver more U.S. fiscal stimulus calmed some of the worst bouts of selling on global stock markets in months. Wall Street had closed higher on signs that Democrats in the House of Representatives were working on a $2.2 trillion coronavirus stimulus package that could be voted on next week. "Today is largely consolidative after consecutive days of decline," said Christopher Wong, senior FX strategist at Maybank in Singapore. India and Indonesia were the best performers with gains of more than 1% in morning trade. Jakarta's main index, weighed down a new wave of coronavirus infections and concerns over moves to change its central bank law, had shed more than 4% this week. Other Asian equity markets made more modest gains, with the Philippines, Malaysia and South Korea adding between 0.4% to 0.8%, and were still set to register heavy losses for the week. South Korea's KOSPI was down 5.2% for the week, its worst performance since March. Concerns about a second round of COVID-19 infections that is spreading across Europe and weak economic indicators have made markets bearish this week. "The increasingly worrying 'second round' COVID risks, which have showed up in Services PMIs in Europe, point to a sputtering and uneven recovery without appropriate and timely policy intervention," Mizuho Bank's Riki Ogawa said. In China, a strong influence over many of the region's markets, the yuan rose 0.2% after news that China's government bonds would be included in FTSE Russell's flagship World Government Bond Index (WGBI). Once included, China's market yield will be the second highest in the FTSE WGBI index based on current prices, bringing in inflows of about US$140 billion, Goldman Sachs analysts said. In the same announcement by FTSE Russell, Malaysian bonds remained on a waiting list for possible removal, holding back the Malaysian ringgit, which has also suffered from a fresh political turbulence in Kuala Lumpur this week. HIGHLIGHTS ** Malaysia's 3-year benchmark yield is up 1.6 basis points at 1.969% ** Top gainers on the Jakarta stock index include Indofarma Tbk PT up 24.89% and Pyridam Farma Tbk PT up ​24.84% ** Top gainers on the Singapore STI include Mapletree Logistics Trust up 1.49% and Comfortdelgro Corporation Ltd up 1.41% Asia stock indexes and currencies at 0424 GMT COUNTRY FX RIC FX DAILY % FX YTD % INDEX STOCKS STOCKS DAILY % YTD % Japan -0.03 +3.02 0.43 -1.98 China +0.15 +2.14 -0.24 5.42 India +0.00 -3.40 1.22 -10.12 Indonesia -0.03 -6.53 1.41 -22.04 Malaysia +0.02 -1.82 0.34 -5.22 Philippines +0.10 +4.56 0.47 -24.85 S.Korea +0.17 -1.22 0.69 4.13 Singapore +0.01 -2.23 0.46 -23.61 Taiwan +0.39 +3.09 -0.29 1.93 Thailand +0.19 -5.14 -0.31 -21.28 (Reporting by Anushka Trivedi in Bengaluru, Editing by Patrick Graham & Simon Cameron-Moore)

EMERGING MARKETS-Asian stocks slump as recovery fears grow

24 Sep 2020

* Graphic: World FX rates http://tmsnrt.rs/2egbfVh * Graphic: Foreign flows into Asian stocks https://tmsnrt.rs/3lKhL5I * Indonesia stocks hit 2-week low * Thai baht at one-month low By Anushka Trivedi Sept 24 Stock markets across Asia's emerging economies sank on Thursday as concerns about rising coronavirus cases in the developed world hammered investors' risk appetite, driving capital into the dollar and other traditional safe havens. With the tone set by a drop on Wall Street overnight, Singapore's Strait Times index was also caught up in the action, losing almost 1% as early falls in China sparked losses of as much as 2.5% across the region. India, South Korea and Taiwan, among the strongest performers in recent weeks thanks to their appeal to technology investors, were the worst hit, falling 1.9%, 2.6% and 2.5%, respectively. In Indonesia, hit by concerns over rising domestic COVID-19 cases and moves to involve the central bank in fiscal stimulus, stocks hit a two-week low and the rupiah fell for a third session. Malaysia's ringgit eased 0.3%, bringing its decline for the week so far to about 1.3% after opposition leader Anwar Ibrahim's claimed that he had a majority to oust the current government. That stoked uncertainities about a drawn out power struggle and the possibility of an early election and threatened to stall vital stimulus for the economy. Prime Minister Muhyiddin Yassin, whose seven-month old coalition government has survived with a wafer-thin majority, unveiled an additional economic package worth 10 billion ringgit ($2.40 billion) on Wednesday as Anwar made his pitch. "Political uncertainty is a near-term risk for implementation of those (stimulus) policies or projects and hence the speed of economic recovery," analysts at China-based trading firm CGS-CIMB said in a note. Despite a dour outlook for global economy, analysts sounded slightly upbeat on Asian emerging currencies' performance in the near-term. "Asian FX have been much more resilient relatively to say, other emerging Latin American currencies and that's because China's broadening of economic recovery has anchored them," said Sim Moh Siong, forex strategist at Bank of Singapore. However, he said the risk will increase if coronavirus cases escalate to the point that they overwhelm the healthcare system in Asia and currencies in this case "will be punished." Thailand's baht fell 0.4% to hit a two-month low, a day after an uneventful central bank meeting where rates were held steady and no stimulus was announced for a country in dire need for fiscal support. HIGHLIGHTS ** Indonesian 10-year benchmark yields are up 2.4 basis points at 6.929% ** Malaysian equities gained 0.5%; Top Glove, the world's biggest glove maker rose 6.9% and its rival Hartalega Holdings jumped 9.8% ** Singapore's main index slid 0.8% as export-oriented stocks fell Asia stock indexes and currencies at 0748 GMT COUNTRY FX RIC FX DAILY % FX YTD % INDEX STOCKS STOCKS DAILY % YTD % Japan +0.14 +3.22 -1.11 -2.40 China -0.15 +2.11 -1.72 5.67 India -0.39 -3.35 -1.85 -10.21 Indonesia -0.44 -6.50 -1.58 -23.16 Malaysia -0.29 -1.80 0.52 -5.32 Philippin +0.06 +4.32 -0.80 -25.20 es S.Korea -0.71 -1.39 -2.59 3.41 Singapore -0.09 -2.16 -0.90 -23.71 Taiwan -0.31 +2.73 -2.54 2.23 Thailand -0.35 -5.29 -1.24 -20.99 (Reporting by Anushka Trivedi in Bengaluru, Editing by Patrick Graham and Rashmi Aich)

EMERGING MARKETS-Asian stocks slump as recovery fears grow

24 Sep 2020

* Graphic: World FX rates http://tmsnrt.rs/2egbfVh * Graphic: Foreign flows into Asian stocks https://tmsnrt.rs/3lKhL5I * Indonesia stocks hit 2-week low * Thai baht at one-month low By Anushka Trivedi Sept 24 Stock markets across Asia's emerging economies sank on Thursday as concerns about rising coronavirus cases in the developed world hammered investors' risk appetite, driving capital into the dollar and other traditional safe havens. With the tone set by a drop on Wall Street overnight, Singapore's Strait Times index was also caught up in the action, losing almost 1% as early falls in China sparked losses of as much as 2.5% across the region. India, South Korea and Taiwan, among the strongest performers in recent weeks thanks to their appeal to technology investors, were the worst hit, falling 1.9%, 2.6% and 2.5%, respectively. In Indonesia, hit by concerns over rising domestic COVID-19 cases and moves to involve the central bank in fiscal stimulus, stocks hit a two-week low and the rupiah fell for a third session. Malaysia's ringgit eased 0.3%, bringing its decline for the week so far to about 1.3% after opposition leader Anwar Ibrahim's claimed that he had a majority to oust the current government. That stoked uncertainities about a drawn out power struggle and the possibility of an early election and threatened to stall vital stimulus for the economy. Prime Minister Muhyiddin Yassin, whose seven-month old coalition government has survived with a wafer-thin majority, unveiled an additional economic package worth 10 billion ringgit ($2.40 billion) on Wednesday as Anwar made his pitch. "Political uncertainty is a near-term risk for implementation of those (stimulus) policies or projects and hence the speed of economic recovery," analysts at China-based trading firm CGS-CIMB said in a note. Despite a dour outlook for global economy, analysts sounded slightly upbeat on Asian emerging currencies' performance in the near-term. "Asian FX have been much more resilient relatively to say, other emerging Latin American currencies and that's because China's broadening of economic recovery has anchored them," said Sim Moh Siong, forex strategist at Bank of Singapore. However, he said the risk will increase if coronavirus cases escalate to the point that they overwhelm the healthcare system in Asia and currencies in this case "will be punished." Thailand's baht fell 0.4% to hit a two-month low, a day after an uneventful central bank meeting where rates were held steady and no stimulus was announced for a country in dire need for fiscal support. HIGHLIGHTS ** Indonesian 10-year benchmark yields are up 2.4 basis points at 6.929% ** Malaysian equities gained 0.5%; Top Glove, the world's biggest glove maker rose 6.9% and its rival Hartalega Holdings jumped 9.8% ** Singapore's main index slid 0.8% as export-oriented stocks fell Asia stock indexes and currencies at 0748 GMT COUNTRY FX RIC FX DAILY % FX YTD % INDEX STOCKS STOCKS DAILY % YTD % Japan +0.14 +3.22 -1.11 -2.40 China -0.15 +2.11 -1.72 5.67 India -0.39 -3.35 -1.85 -10.21 Indonesia -0.44 -6.50 -1.58 -23.16 Malaysia -0.29 -1.80 0.52 -5.32 Philippin +0.06 +4.32 -0.80 -25.20 es S.Korea -0.71 -1.39 -2.59 3.41 Singapore -0.09 -2.16 -0.90 -23.71 Taiwan -0.31 +2.73 -2.54 2.23 Thailand -0.35 -5.29 -1.24 -20.99 (Reporting by Anushka Trivedi in Bengaluru, Editing by Patrick Graham and Rashmi Aich)

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