China's Mega Lenders Lift Profit
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China's Mega Lenders Lift Profit
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Business and finance news from the Asia-Pacific.
Asian stocks and bonds fell after hawkish comments from Chair Kevin Warsh boosted bets on a Federal Reserve interest-rate hike next month. Oil rose as Middle East tensions flared.
MSCI’s Asia Pacific equities gauge dropped 1.1%, snapping a four-day gain, with technology shares leading declines. The Kospi Index — a barometer for artificial intelligence investments — slid 2.5%, with chipmakers Samsung Electronics Co. and SK Hynix Inc. the biggest contributors. US stock-index futures also retreated. For more, Bloomberg TV Host Haidi Stroud-Watts spoke with Kieran Calder, head of Asia Equity Research at UBS.
The big banks in China reported earnings with state owned lenders producing higher first half profits. The results offer fresh evidence of improvements in China's banking industry after a prolonged margin squeeze. For a closer look, Bloomberg TV hosts Yvonne Man and David Ingles caught up with Bloomberg Senior Banking Analyst, Francis Chan.
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