The US labour market showed signs of a steady slowdown in October, with job openings increasing moderately and layoffs declining, according to the latest Job Openings and Labor Turnover Survey (JOLTS) report released by the Bureau of Labor Statistics on Tuesday. Job openings, a key indicator of labour demand, rose by 372,000 to 7.744 million at the end of October. However, the September figures were revised downward to 7.372 million from the initially reported 7.443 million. Economists polled by Reuters had anticipated 7.475 million vacancies. Labour Market Dynamics While job openings increased, hires dropped by 269,000 to 5.313 million, and layoffs fell by 169,000 to 1.633 million. These figures suggest a gradual cooling of the labour market rather than a sharp contraction. Hurricanes and strikes also impacted October’s labour market data. Rebuilding efforts in storm-affected regions and the resolution of strikes at Boeing and another aerospace company are expected to contribute to a ...
Asia is entering its busiest week for earnings, with Chinese and Hong Kong-listed banks in the spotlight as investors look for signs of the potential impact from Beijing's stimulus measures.
A total of 544 firms from the MSCI Asia Pacific Index will report their earnings this week, including major players like the Industrial and Commercial Bank of China Ltd, according to Bloomberg data.
Investors will pay close attention to Chinese lenders' results, looking for any indications of increased credit demand, which could signal a recovery in consumer confidence. Chinese banks have faced challenges from slowing profit growth and narrowing interest margins, making their outlook critical for understanding the broader economic recovery.
In Hong Kong, HSBC Holdings Plc will also be closely watched after its recent corporate structure revamp, which has attracted investor interest.
This week’s earnings results are expected to provide key insights into the region’s economic health and the effectiveness of China's recent policy moves to stimulate growth.
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