1 hour ago
Rakuten has confirmed that it is considering restructuring its fintech business.Stock price rose 4%
The logo of Japanese technology giant Rakuten seen at Mobile World Congress 2019.
Paco Freire | SOPA Image | Light Rocket (via Getty Images)
Rakuten Group is Reorganization of financial technology business.
Stock prices of Japanese companies rose 4%.
Rakuten released a statement saying, “As reported, it is true that Rakuten Group, Inc. is considering restructuring its FinTech business.If there are any matters that need to be disclosed, we will promptly make them public.”
This statement confirms that Nikkei reportingThe company also announced that its card and securities divisions, including Rakuten Bank, will be combined by October.
— Shreyashi Sanyal
1 hour ago
China’s factory activity expands at fastest pace in 13 months: Caixin survey
According to reports, factory activity in China expanded at the fastest pace in 13 months. Caixin World Manufacturing Survey For March.
The country’s manufacturing purchasing managers’ index rose to 51.1, beating economists’ expectations of 51.0 and ahead of official data of 50.8.
Caixin wrote that the increase was “due to an increased influx of new jobs, including from overseas.”
As a result, Chinese manufacturers expanded production while also raising purchasing levels as optimism improved.
— Lim Huijie
2 hours ago
South Korean factory activity begins to shrink in March
Korean factory activities After two consecutive months of expansion, it fell into contraction territory in March.
The country’s Purchasing Managers Index stood at 49.8, down from 50.7 in February.
S&P Global said in a report that panel members mainly blamed weak demand and downward revisions to investment plans.
“Many companies noted that sales remained weak, especially in response to the weak domestic economy,” it added.
— Lim Huijie
2 hours ago
Japan’s factory activity contracted for 10th straight month in March, PMI data shows
Japan’s manufacturing activity contracted for the 10th consecutive month in March, according to a report. private investigation Published on Monday.
Last month’s S&P Global Final AU Jibun Bank Manufacturing Purchasing Managers Index was 48.2.
The survey states, “While the performance of Japan’s manufacturing industry continues to be sluggish as of the end of the first quarter of 2023, there are signs that the worst of the slump is over.”
A PMI number below 50 means contraction, and above it means expansion.
— Shreyashi Sanyal
2 hours ago
Business confidence in Japan’s major manufacturing industries has declined slightly
business optimism According to the Bank of Japan’s Tankan survey, the sales of Japan’s major manufacturers decreased in the first quarter, posting an increase of +11 compared to +12 in the previous survey.
Economists’ forecasts compiled by Reuters were for major manufacturers to increase by 10.
However, non-manufacturing optimism rose to its highest level since August 1991, with the Tankan gauge at +34 compared with +30 in the fourth quarter, beating Reuters’ forecast of +33.
The Tankan survey also monitors the Bank of Japan as it formulates monetary policy.
— Lim Huijie
3 hours ago
China’s factory activity expands in March, unexpectedly
factory activity in china The economy expanded in March, ending a five-month period of contraction and surprising expectations.
The country’s Manufacturing Purchasing Managers Index stood at 50.8, according to official data.
This is a smaller number compared to February’s 49.1 and the Reuters poll’s estimate of 49.9.
Separately, the non-manufacturing PMI rose to 53.0 from 51.4 in January.
— Lim Huijie
3 hours ago
China’s factory activity expands in March, unexpectedly
factory activity in china The economy expanded in March, ending a five-month period of contraction and surprising expectations.
The country’s Manufacturing Purchasing Managers Index stood at 50.8, according to official data.
This is a smaller number compared to February’s 49.1 and the Reuters poll’s estimate of 49.9.
Separately, the non-manufacturing PMI rose to 53.0 from 51.4 in January.
— Lim Huijie
3 hours ago
CNBC Pro: Fund manager says payments company has Nvidia-like profit margins and is more sustainable
Nvidia’s stock price has soared amid artificial intelligence hype, leading some investors to question the sustainability of the company’s valuation.
The stock’s free cash flow (FCF) yield for next year is trading at a high 2.5%, which is causing some investors to be wary. Historically, Nvidia was trading at his FCF yield of 4% before the pandemic.
In fact, Hannah Gooch Peters, a global equity investment analyst at Sanlam Investments, believes there are other stocks like Nvidia with operating margins of 60% that are more sustainable investment opportunities.
CNBC Pro subscribers can read more here.
— Ganesh Rao
3 hours ago
CNBC Pro: AI is power hungry.Morgan Stanley’s top portfolio manager says it’s an opportunity for some stocks.
Many high-tech companies are rapidly developing infrastructure for artificial intelligence as they compete for dominance in this competitive market.
AI is extremely power intensive. And that power demand is only going to increase in the coming years.
Aaron Dunn of Morgan Stanley Investment Management points to one stock that is driving the trend.
CNBC Pro subscribers can read more here.
— Tan Weizhen
