Finance

Original title: BlackRock Still Favors Indonesia Long Bonds, Unfazed by Protests BlackRock Inc. remains a fan of long-dated Indonesian government bonds, saying the high-yield debt offers enough risk compensation in the face of local political instability. The world’s largest asset manager has recently increased holdings of such bonds due in 10 to 15 years, shifting positions from shorter tenors, said Navin Saigal , BlackRock’s head of fundamental fixed income for Asia Pacific. The additions resulted from the longer-tenor notes’ milder reaction to Bank Indonesia’s surprise interest rate cut and the Federal Reserve’s dovish rhetoric last month, he said. ...

Original title: European Stocks Bounce Back From Tech-Driven Slump: Markets Wrap Stocks staged a modest rebound from a technology-led selloff, setting a steadier tone at the outset of a month that could bring plenty of tests to markets trading near record highs. The Stoxx 600 advanced 0.3% as a gauge of the region’s tech stocks held steady. Asian stocks traded mixed, with a 19% surge in Alibaba Group Holding Ltd. contrasting with a slump in chipmaking shares. S&P 500 and Nasdaq 100 futures were little changed, with cash trading in US stocks and Treasuries closed for the Labor Day holiday. ...

Original title: Indonesia Sees Limited Economic Fallout From Recent Protests Indonesia is able to hit its annual growth target despite recent protests and riots, as the government pledges to continue its stimulus spending policy, according to the chief economy minister. “Our economic growth is still on a positive track,” Coordinating Minister for Economic Affairs Airlangga Hartarto said on Monday, reiterating an estimated growth range of 5%-5.2% this year. He also urged businesses and investors to stay calm and optimistic. ...

Original title: What’s Next for Prabowo After Indonesia Protests? 00:00 What do you think is next? Could tensions stay elevated for some time? I think actually what you’re seeing is that Prabowo has been more flexible than anyone who knew him in the past would think. At first he came out exactly as people would expect and talking about protesters as being treasonous terrorists, etc., and seeing statements like what we just heard. And he actually now has moved in a direction. He’s acknowledged some of their grievances. He’s said that that he’s going to take a look at lawmakers pay, cut foreign trips. He acknowledges the challenges, the economy, etc.. That is not what anyone I think would have thought that Prabowo Subianto would do. What the first is… The second, I think, is quite unusual. And so I think that might have an effect in promoting calm. Those quick concessions, though, that Prabowo seems to have made, I mean, is that going to be having any sort of impact on on people, though? Will they be listening to what he’s saying, do you think? I mea ...

Original title: Asian Tech Shares Dip After US Rout, Alibaba Jumps: Markets Wrap Asian equities were under pressure after a tech selloff hit Wall Street, with chip shares among the biggest losers. Hong Kong was an outlier as Alibaba Group Holding Ltd. surged. Chipmakers pushed Japanese shares down 1.5%. Samsung Electronics Co. and SK Hynix Inc. tumbled after the US revoked China chip-gear permits. A gauge of technology firms in Hong Kong jumped as much as 1.7% with Alibaba surging 18%, the biggest intraday gain since November 2022. ...

Original title: Equinor Plans to Back Orsted Rights Issue to Keep 10% Share Equinor ASA said it intends to subscribe for new shares in wind developer Orsted A/S, the first major investor after the Danish government to back the sale. The Norwegian energy company said it plans to maintain its 10% stake in Orsted and will subscribe for new shares for as much as 6 billion kroner ($940 million). That support “reflects confidence in Orsted’s underlying business, and the competitiveness of offshore wind in the future energy mix, in selected geographies,” Equinor said in a statement on Monday. ...

Original title: EM Stocks’ Trump Rally at Risk as Tariff Reality Kicks In The start of Donald Trump ’s second presidency has matched his first term in proving a boon for emerging-market stocks, but the rally risks running out of steam given his trade and fiscal policies are also sinking corporate earnings. The benchmark MSCI Emerging Markets Index has posted an advance every month from January through August this year, the first of Trump’s second term. That’s happened only twice before in the 37 years that investors have tracked emerging markets as an asset class: in 2017, also a Trump inaugural year, and in 1993, under Bill Clinton . ...

Original title: China Stock ETFs See First Inflows in Months Ahead of Parade Chinese equity exchange-traded funds broke a long streak of outflows last week, as small investors grow in confidence ahead of a closely watched military parade. Domestic equity ETFs trading in Shanghai and Shenzhen recorded 8.7 billion yuan ($1.2 billion) of net inflows, according to figures compiled by Bloomberg, ending a nine-week streak of outflows. Original article

Original title: China’s Baosteel in Discussions on Steel Investments From Asia to Africa China’s Baoshan Iron & Steel Co. is in discussions with several potential partners about investing in steel projects, with the primary focus on Asia, the Middle East and North Africa. The nation’s top steel producer, known as Baosteel, is “actively considering” overseas investment targets, according to a statement on Friday posted on Wechat. The remarks were made at the company’s briefing for its first-half results, which was attended by executives including Chairman Zou Jixin . ...

Original title: Asian Shares Dip After US Tech Rout, Alibaba Jumps: Markets Wrap Asian equities fell after a tech selloff hit Wall Street Friday, with chip shares among the biggest losers. Hong Kong was an outlier as Alibaba Group Holding Ltd. surged. The MSCI Asia Pacific Index slipped 0.1% with chipmakers pushing the Nikkei-225 index down by 1.6%. Samsung Electronics Co. and SK Hynix Inc. tumbled after the US revoked China chip-gear permits. A gauge of technology shares in Hong Kong jumped as much as 2.6% with Alibaba surging 17% and lifting peers in the broader AI space, including Baidu Inc. and Tencent Holdings Ltd. ...