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Lotte Chemical Shares Hit Four-Year Low as Losses Mount Amid Bleak Outlook

Lotte Chemical Titan Holding Bhd shares fell to their lowest level since April 2020 on Thursday, with investors reacting to widening quarterly losses and an uncertain future. The company’s stock dropped by as much as 4.5 sen, or nearly 5%, to 91.5 sen , giving it a market capitalisation of RM2.13 billion . The petrochemical company faces challenges as product spreads remain under pressure due to a global supply glut , primarily from new capacity expansions in China . Analysts at TA Securities noted that Lotte Chemical is likely to stay in the red “over the next few quarters” and maintained a 'sell' rating on the stock. The company has reported quarterly losses since 2QFY2022 and is expected to continue to report losses through this year. Analysts estimate that Lotte Chemical may not return to profitability for another two years , according to Bloomberg consensus data. A significant challenge for Lotte Chemical is the squeeze in spreads between naphtha costs and polymer sel
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BOJ Expected to Maintain Rates Amid Political and Economic Uncertainty

 

The Bank of Japan (BOJ) is expected to keep its benchmark interest rate unchanged at 0.25% during its upcoming meeting, as political uncertainty following Japan’s election and the upcoming US presidential election create elevated risks. Governor Kazuo Ueda and the BOJ board are likely to adopt a wait-and-see approach given the instability, according to economists surveyed by Bloomberg.

The recent Liberal Democratic Party (LDP) election loss and ongoing global uncertainties have reduced the likelihood of a rate hike this year. However, some experts still anticipate a possible move by January 2025, with 53% expecting action as early as December.

The yen's weakness, coupled with inflation staying above the BOJ’s 2% target, has led to speculation about potential rate increases to address imported inflation. However, political instability has raised the threshold for such a move in the near term.

The BOJ will also release its quarterly economic projections, with attention on whether the central bank will adjust its inflation outlook or maintain its current stance.

Despite uncertainty, Japan's inflation and wage growth have been aligned with the BOJ’s forecasts, keeping the possibility of a future rate hike on the table.

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