Updated throughout the day
September 14
Good evening everyone. Despite a small pop at the open, Chinese shares ended the session deep in the green today largely thanks to yesterday’s mixed data as well as the upcoming Fed decision. As always, China managed to drag down the rest of Asia again, though Hong Kong proved surprisingly resilient to its neighbor’s clutch:
- Hang Seng Index: +0.27%
- Hang Seng China Enterprises Index: +0.11%
- SHCOMP: -2.67%
- SZCOMP: -6.65%
- Nikkei 225: -1.63%
- TOPIX: -1.20%
- Straits Times Index: -0.32%
European markets meanwhile are doing much better with the FTSE 100 climbing 0.58%, the DAX jumping 0.26%, and CAC edging up 0.21%. Here’s what else you need to know:
Malaysia pumps $4.6b into stock market. The Malaysian government is spending 20 billion ringgit ($4.6 billion) on boosting shares and is cutting taxes for manufacturers. The ringgit lost 20% of its value against the dollar this year and a 9% fall in its stock market. BBC
Japan industrial production falls short of estimates. The land of the rising sun’s industrial output fell -0.8% last month, worse than the preceding month’s -0.6% reading and missing estimates of a -0.6% fall. Investing
Aussie PM challenged for leadership. Australian PM Tony Abbot has been challenged for his job by senior minister Malcolm Turnbull, who says the country needs a “new style of leadership”. BBC
UK’s second biggest party picks left-wing leader. Jeremy Corbyn has become the leader of the UK’s Labour Party. Initially a rank outsider, the socialist bagged 60% of the vote on a wave of grassroots support. Runner-up Andy Burnham, has been named shadow Home Secretary. Independent
Egypt forces kill Mexico tourists. Egyptian security forces killed at least 12 people after mistakenly opening fire on a caravan of tourist vehicles in the country’s Western Desert late Sunday night.10 others were injured. New York Times
Japan’s Mount Aso erupts. A volcano on Japan’s southern-most main island of Kyushu has erupted, sending up huge plumes of grey ash and smoke. Mount Aso is one of the most active peaks in Japan but is also a popular hiking spot. ABC
China factory output and fixed-asset investment data misses estimates. China’s been punching in some disappointing data lately and here’s the latest. The nation’s industrial production grew 6.1% from the year before in August, slightly better than July’s 6% climb but well below forecasts for a 6.6% rise. Fixed-asset investment meanwhile jumped 10.9% year-on-year in January to August, lower than January to July’s 11.2% climb and slower than what analysts had expected. Retail sales came in strong though, surging 10.8% from the year before and besting the 10.5% growth posted in July. Wall Street Journal
Germany initiates temporary border controls. The Interior Minister Thomas de Maiziere said migrants couldn’t choose their places of refuge and began enforcing border controls with Austria after 13,000 migrants arrived on Saturday. Germany is expecting 800,000 migrants this year. BBC
Oil field write-downs hit record. With oil prices plummeting, 66 oil and gas producers have written off nearly $60 billion of value from their drilling fields in June. Wall Street Journal (paywall)
Flavia Pennetta wins women’s grand slam. The Italian player snagged her first Grand Slam and announced her retirement. The No. 26 seed defeated Serena Williams in a stunning upset to advance to the finals. MarketWatch
Died: Moses Malone, NBA Hall of Famer. At the age of 60. Known as “Chairman of the Boards,” Malone was a three-time MVP winner. Wall Street Journal (paywall)
You won’t believe this:
Diamond smuggling take guts in Asia. A Chinese woman suspected of stealing a $300,000 diamond in Bangkok, Thailand has had the jewel surgically removed from her intestines. She is thought to have swallowed it in order to smuggle it out of the country. She is believed to have stolen the six-carat diamond from a jewellery fair by swapping it for a fake gemstone. BBC
The secret sex life of a feared al Qaeda operative. Anwar al-Awlaki, the American-born jihadist, preached strict Islam but the FBI caught him again and again patronizing prostitutes. After Osama bin Laden, he was one of the most feared al Qaeda leaders. New York Post
Photo: Aristocrats-hat