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You are here: Home / Archives for Kat subdues

Kat subdues

China’s factory activity likely slowed in June on subdued global demand, Reuters poll shows

BEIJING: China's factory activity likely grew for the fourth month June but the pace may be waning, as global demand stayed subdued while a fresh coronavirus outbreak in the Chinese capital and rising worldwide cases threaten to undermine a gradual domestic recovery. The official manufacturing Purchasing Manager's Index (PMI), due for release on Tuesday, is expected to ease to 50.4 in June, from 50.6 in May, according to the median forecast of 29 economists polled by Reuters. A reading above 50 indicates an expansion in activity. With travel bans finally lifted in April in Wuhan, the epicentre of the country's coronavirus crisis, China has largely managed to recover from strict lockdowns that had led to weeks of economic paralysis. Yet export demand has remained weak with infections steadily rising across the world. Some fear a worldwide recession might turn out to be more pronounced than expected in the event a second wave of coronavirus cases force many countries to reimpose … [Read more...] about China’s factory activity likely slowed in June on subdued global demand, Reuters poll shows

PGA Tour makes subdued return, Rose sets pace at Colonial

REUTERS: The PGA Tour quietly returned to action for the first time in three months amid the COVID-19 pandemic as the world's best golfers competed at a spectator-free Colonial Country Club in Fort Worth, Texas on Thursday. Everyone in a field featuring the top five golfers in the world rankings underwent mandatory testing prior to teeing off at the Charles Schwab Challenge where the PGA Tour ended its longest unscheduled break from competition since World War Two. "Just being out here is successful, to be honest with you, getting started," said American Ryan Palmer, who hit the day's opening tee shot. "I don't see anything holding us back moving forward. I think today was the biggest day, just getting this first day off." Despite an unusually deep field that was reminiscent of a major championship as players were eager to shake off the rust of a forced shutdown, the action was subdued with no spectators to applaud the awe-inspiring shots. Englishman Justin Rose showed no … [Read more...] about PGA Tour makes subdued return, Rose sets pace at Colonial

European shares kick off new quarter with subdued gains

REUTERS: European shares started the new quarter on a somber tone on Wednesday, as surging U.S. coronavirus cases kept optimism in check ahead of a slew of economic data. The pan-European STOXX 600 index rose 0.2per cent by 0718 GMT, after closing out its best quarterly gains since March 2015 in the previous session. The German DAX gained 0.7per cent as data showed retail sales rose sharply in May, reflecting a rebound in private consumption after the country lifted coronavirus-inflicted restrictions. Drugs and pesticides maker Bayer jumped 3.4per cent, providing the biggest boost. German unemployment and U.S. manufacturing activity and private jobs data are all due later in the session. A cautious tone prevailed across the global markets, as the United States on Tuesday recorded its biggest single-day spike since the pandemic began, dimming hopes that the economic pain had passed. Swiss specialty chemicals maker Clariant gained 6.9per cent as it completed the … [Read more...] about European shares kick off new quarter with subdued gains

Dollar in narrow range as US virus cases grow

TOKYO: The dollar was hemmed into a narrow range on Friday, supported by safe-haven flows as a resurgence of the coronavirus in the United States discouraged some investors from taking on excessive risk. The yuan was stable in offshore trade before data on China's services sector, but investors may avoid taking big positions due to worries about diplomatic friction between Washington and Beijing over civil liberties in Hong Kong. The U.S. economy added more jobs than expected in June, data showed on Thursday, but reaction in the currency market has been muted because another spike in coronavirus infections threatens to once again put the breaks of economic activity. "New infections in the United States have been on an uptrend since June," said Junichi Ishikawa, senior foreign exchange strategist at IG Securities. "The market is leaning more toward buying the dollar, particularly against emerging market currencies, because the dollar is considered the safest asset around." … [Read more...] about Dollar in narrow range as US virus cases grow

China’s June factory activity rises to six-month high: Caixin PMI

BEIJING: China's factory activity grew at a faster clip in June after the government lifted coronavirus lockdown measures, but the health crisis continues to weigh on exports and jobs, a private business survey showed on Wednesday. The Caixin/Markit Manufacturing Purchasing Managers' Index (PMI) rose to 51.2 last month, from May's 50.7. The 50-mark separates growth from contraction on a monthly basis. Analysts polled by Reuters had expected a reading of 50.5. China's economy is gradually emerging from a sharp 6.8per cent contraction in the first quarter, with much of the country reopened after weeks of disruptions early in the year due to strict lockdown measures. But demand remained subdued, as many manufacturers are still struggling with reduced or cancelled overseas orders amid faltering global demand. While some of China's trading partners are easing curbs and re-booting their economies, many are still grappling with the pandemic. Consumers have also remained cautious … [Read more...] about China’s June factory activity rises to six-month high: Caixin PMI

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