CNBC Pro: Bitcoin is expected to rally further. Here’s how the pros are investing
Bitcoin extended its gains Monday, after coming off an eventful week.
As of 12.16 p.m. Singapore time (12.15 a.m. ET), the cryptocurrency had gained 0.21% against the greenback to $118,368.56.
Bitcoin prices
SEBI allows Jane Street to resume trading, Reuters reports
India’s Nifty 50 benchmark starts the day lower
India’s 50-stock benchmark Nifty 50 Sensex index fell 0.26% as at 9.30 a.m. Indian Standard time Monday (12. a.m. ET).
Nifty 50 Index
Meanwhile, the BSE Sensex index was last seen flat.
— Amala Balakrishner
Singapore stocks extend rally to hit fresh record for 11th straight session
Singapore’s 30-stock benchmark Straits Times Index extended its winning run for the eleventh consecutive session Monday, and hit a fresh all-time high of 4,225.79 earlier in the session.
Straits Times Index
The index was up 0.62% at 4,215.22 as of 10.10 a.m. local time (10.10 p.m. ET Monday), with gains led by the utilities, financials and real estate sectors.
The best performing stocks were Mapletree Logistics Trust which rose 1.69%, Yangzijiang Shipbuilding which advanced 1.67% and Keppel which added 1.36%.
— Amala Balakrishner
Chinese yuan trades flat against greenback after PBOC decision
The Chinese yuan and offshore yuan traded flat against the greenback on Monday, after the People’s Bank of China stood pat on its key holding rates for July.
As at 9.50 a.m. local time (9.50 p.m. ET Sunday), the offshore yuan had strengthened by 0.02% against the U.S. dollar to 7.1788.
— Amala Balakrishner
Chinese and Hong Kong stocks rise in early trade
Chinese and Hong Kong-listed stocks started the day higher Monday, after China’s central bank stood pat on its key lending rates
As of 9:42 a.m. local time (9:42 p.m. ET Tuesday), the Hang Seng Index added 0.55%, while mainland’s CSI 300 moved up 0.28%.
— Amala Balakrishner
Japanese yen strengthens after ruling party’s defeat
The Japanese yen strengthened against the greenback Monday, as investors assessed the ruling party’s historic defeat in the upper-house election on July 20.
The yen — which is traditionally considered a safe haven, especially during times of uncertainty — had been on the decline for two weeks leading up to the election after polls suggested that the country’s ruling party would lose its parliamentary majority.
As of 11 a.m. local time (10 p.m. ET Sunday), the yen had appreciated by 0.22% against the U.S. dollar to 148.49.
USD/JPY
China holds key lending rates as softening consumer sentiment persists in world’s second largest economy
China kept its benchmark lending rates steady Monday as the country continues to grapple with weak consumer sentiment and softening growth.
The People’s Bank of China held the 1-year loan prime rate at 3.0% and the 5-year LPR at 3.5%.
LPR, normally charged to banks’ best clients, is calculated based on a survey of dozens of designated commercial banks that submit proposed rates to the central bank.
Read the full story, here.
— Lim Hui Jie
Asia-Pacific markets open mixed
South Korean markets started the day higher Monday.
As of 8.10 a.m. Singapore time (8.10 p.m. ET Sunday), the Kospi index rose 0.45%, while the small-cap Kosdaq was flat.
Meanwhile, Australia’s S&P/ASX 200 benchmark was flat.
Japanese markets were closed for the Marine Day public holiday.
— Amala Balakrishner
Here are the opening calls for the day
Good morning from Singapore.
Investors will be keeping a close watch on the People’s Bank of China’s decision on its 1-year and 5-year loan prime rates for July expected later in the day.
Futures for Hong Kong’s Hang Seng index stood at 24,883, pointing to a stronger open compared with the HSI’s Friday close of 24,825.66.
Australia’s S&P/ASX 200 was set to start the day lower with futures tied to the benchmark at 8,688, compared with its last close of 8,757.20.
Japanese markets were closed for a public holiday.
— Amala Balakrishner
U.S. futures little changed in early Asia hours
S&P 500, Dow end Friday in the red
The S&P 500 and Dow Jones Industrial Average ended Friday in the red, with stocks turning lower in afternoon trading as tariff fears took over.
The 30-stock Dow lost 142.30 points, or 0.32%, ending at 44,342.19. The S&P 500 inched 0.01% lower to close the session at 6,296.79.The tech-heavy Nasdaq Composite added just 0.05% to settle at 20,895.66.
— Pia Singh