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Kelvin Blacklock, CIO at Eastspring Investments says the markets that have moved up recently are those that have seen strong earnings growth. He says these defensive markets are looking expensive while the cyclicals appear cheap.
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NEW YORK, Oct 1- U.S. manufacturing unexpectedly grew last month for the first time since May but euro zone factories suffered their worst quarter since early 2009 and China lost steam, suggesting the global economy faces hurdles as it tries to outrun recession.
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*Manufacturing in euro zone and Asia wilts in Sept. By Steven C. Johnson and Andy Bruce. NEW YORK/ LONDON, Oct 1- U.S. manufacturing grew slightly last month for the first time since May but euro zone factories suffered their worst quarter since early 2009, suggesting the region may struggle to avoid recession.
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LAS VEGAS-- A Brooklyn Bowl entertainment venue, a Yard House beer bar and an Asian-themed food and art marketplace are among anchor tenants coming to a master-planned complex being built at the base of a big new Las Vegas Strip observation wheel, Caesars Entertainment Corp. officials will announce Monday.
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*Manufacturing in euro zone and Asia wilts in Sept. LONDON/ BEIJING, Oct 1- Factory output in Europe and Asia wilted again in September, flagging a return to recession for the euro zone and a seventh straight quarter of slowing growth in China, business surveys showed on Monday.
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SINGAPORE, Oct 1- Fuel oil arbitrage arrivals into Asia were expected to further depress the fuel oil market, as demand from China's small and medium sized refiners remained thin. As China's economy slows, demand for refined products has decreased due to slowing industrial demand for power generation fuels.
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SINGAPORE, Oct 1- The Asian naphtha price was at a two-session low of $973 a tonne on Monday but margins were up for the fourth session to reach a three-week high of $134.43 a tonne as strong gasoline demand in the West continued to support the market. The strong gasoline demand in the U.S. and West Africa have likely caused Europe to cut back on its naphtha exports.
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BANGKOK, Oct 1- Southeast Asian stock markets ended mostly lower on Monday, tracking weak global equities and after a lacklustre session amid market holidays in Asia, but foreign buying pushed Malaysian shares to their highest in almost two weeks. Banking stocks gained due to optimism about third-quarter earnings, with Kasikornbank.
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By Rieka Rahadiana and Neil Chatterjee. JAKARTA, Oct 1- Indonesian exports and imports fell the most in three years in August, suggesting weakening third quarter growth for Southeast Asia's biggest economy that is likely to lead the central bank to keep benchmark interest rates at a record low all year.
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The market never really opened, "said a trader in Singapore. The Asia iTraxx ex-Japan IG index 18 did widen slightly in the morning as the few stock markets that were open dropped in the wake of negative economic headlines from China and Japan.
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JAKARTA, Oct 1- Indonesian exports and imports fell the most in three years in August, suggesting weakening third quarter growth for Southeast Asia's biggest economy that is likely to lead the central bank to keep benchmark interest rates at a record low all year.
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SYDNEY, Oct 1- Australian shares ended flat on Monday, giving up early gains after data showing China's manufacturing sector remained in contraction in September fuelled investor worries about weak global growth. Mining and steel maker Arrium.
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MUMBAI, Oct 1- State-owned refiner Indian Oil Corp plans to meet investors in Singapore on Wednesday for a possible benchmark Singapore dollar bond sale, a source with direct knowledge of the deal said. The firm has picked Standard Chartered and DBS for the offshore bond sale, said the source.
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*Japan's business sentiment worsens- tankan. SINGAPORE, Oct 1- Brent crude fell below $112 per barrel on Monday, reflecting investor concerns a shaky global economy may hurt oil demand following fresh evidence of weakness in China and Japan as well as persistent worries about the debt-saddled euro zone.
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Singapore- listed Thai Beverage has emerged as the best performer among 14 companies in the city-state's consumer staples sector, data from Thomson Reuters StarMine showed. Thai Beverage is up nearly 23 percent over the past month, while the sector index is down marginally in the same period, as of Friday's close.
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SYDNEY, Oct 1- Australian shares finished flat on Monday, after data showing that while China's manufacturing sector had improved somewhat in September, it remained in contraction, heightening investors' worries about weak global economic growth.
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*Japan's business sentiment worsens- Tankan. SINGAPORE, Oct 1- Brent crude fell below $112 per barrel on Monday, reflecting investor concerns a shaky global economy may hurt oil demand following fresh evidence of weakness in China and Japan as well as persistent worries about the debt-saddled euro zone.
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SYDNEY/ WELLINGTON, Oct 1- The Australian dollar eased 0.3 percent to three-week lows against the U.S. dollar on Monday after China's manufacturing PMI disappointed a market already worried about global growth and Europe's debt issues.
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*Japan business mood darkens as slowdown bites* South Korea Sept exports fall on weak global demand* European PMIs expected to confirm recession By Lucy Hornby and Leika Kihara.
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The prompt October/November spread climbed $1.25 to a backwardation of $10.25 a tonne, the highest in more than two weeks, according to Reuters data. Strong gasoline demand in the United States will see more naphtha being reformed into the transport fuel, instead of being sent to Asia.
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JAKARTA, Oct 1- Indonesia's exports slumped more than expected in August while annual inflation eased in September, leading economists to expect the central bank to have room to keep benchmark interest rates at a record low all year.