News

South Korea Joins Major FTSE Russell Index After Bond Market Reforms

(Bloomberg) -- South Korea will join FTSE Russell’s major global bond index next year, paving the way for tens of billions of dollars of inflows after an overhaul of the country’s financial market infrastructure. Most Read from BloombergUrban Heat Stress Is Another Disparity in the World’s Most Unequal NationFrom Cleveland to Chicago, NFL Teams Dream of Domed StadiumsSingapore Ends 181 Years of Horse Racing to Make Way for HomesChicago’s $1 Billion Budget Hole Exacerbated by School TurmoilShould

Chinese Stocks Tumble Most Since 2020 on Stimulus Skepticism

(Bloomberg) -- Chinese stocks listed onshore suffered their biggest drop in more than four years as traders grew impatient over the pace of Beijing’s stimulus measures and weak holiday-spending data hurt sentiment.Most Read from BloombergUrban Heat Stress Is Another Disparity in the World’s Most Unequal NationFrom Cleveland to Chicago, NFL Teams Dream of Domed StadiumsSingapore Ends 181 Years of Horse Racing to Make Way for HomesChicago’s $1 Billion Budget Hole Exacerbated by School TurmoilShoul

UK Gas Futures Outrun Europe Benchmark on Looming Winter Demand

(Bloomberg) -- UK natural gas futures have become more expensive than benchmark contracts in continental Europe, signaling traders are starting to prepare for a rise in demand. Most Read from BloombergUrban Heat Stress Is Another Disparity in the World’s Most Unequal NationFrom Cleveland to Chicago, NFL Teams Dream of Domed StadiumsSingapore Ends 181 Years of Horse Racing to Make Way for HomesChicago’s $1 Billion Budget Hole Exacerbated by School TurmoilShould Evictions Be Banned After Hurricane

Korean inclusion in FTSE Russell bond index seen shoring up local markets

The surprise inclusion of South Korean sovereign bonds in the FTSE Russell's benchmark bond index is expected to give the won currency a boost on Thursday and attract billions of dollars of inflows over the next few years. South Korea's government has projected the inclusion to the World Government Bond Index could draw as much as 80 trillion won ($59.7 billion) into its $2.2 trillion bond market, a welcome source of funds for the world's fastest-aging country as welfare costs look set to surge. The inflows are also expected to provide a shot in the arm for the won, which is down 4% against the dollar so far this year and a slumping stock market, analysts say.

TSMC's third-quarter revenue easily beats market forecast

TAIPEI (Reuters) -TSMC, the world's largest contract chipmaker, reported on Wednesday third-quarter revenue that easily beat both the market and company's own forecasts as it reaped the benefit from artificial intelligence (AI) demand. Taiwan Semiconductor Manufacturing Co, whose customers include Apple and Nvidia, has been at the forefront of the march towards AI that has helped it weather the tapering off of pandemic-led demand. It is not a direct comparison as TSMC provides monthly revenue data only in Taiwan dollars, but gives quarterly revenue figures and its outlook on its quarterly earnings calls both in U.S. dollars.