Walmart Inc might finally have found the sweet spot in Japan's food market with a fast-growing venture ranked third in a nascent online grocery sector, as the brick-and-mortar stores it bought into two decades ago continue their search for profit. The barely year-old tie-up between the U.S. supermarket chain's Seiyu and local e-commerce firm Rakuten Inc clocked 30% sales growth for late October through December versus the same period a year earlier when Seiyu was going it alone, said Rakuten Seiyu NetSuper Chief Executive Tamae Takeda.

(Bloomberg) -- For all of Donald Trump’s complaints about the dollar’s strength, he may have himself to blame.One theory behind the greenback’s 2.5% climb so far this year has to do with the U.S. president’s soaring approval rating. While concerns about the coronavirus have certainly increased the demand for so-called safe haven assets like the dollar, there has also been a 70% correlation between Trump’s popularity and the U.S. dollar since his election, according to calculations from TD Securities.That relationship has come into sharper focus as Trump’s approval rating has shot to 46%, the highest in three years, according to Real Clear Politics. It mirrors a similar relationship noted by Wall Street analysts as well between equities and Trump’s rising odds of re-election, as measured by prediction markets.​The U.S. currency has been more closely tracking stocks rather than falling Treasury yields, which would typically drag down the dollar, said Mark McCormick, global head of FX strategy at TD Securities.“Regardless of how Trump feels about the dollar, he’s been good for the buck,” he wrote in a report. “It’s likely the case that U.S. risk assets, and by extension the USD, prefer the status quo to a progressive shift in the White House.”The Bloomberg Dollar Index rose 0.1% to the highest in more than four months during Asian trading Thursday.​The Trump campaign has floated the idea of another round of tax cuts and, if re-elected, he would likely pursue a sizable infrastructure package, McCormick said. Similarly, a more centralist candidate such as Michael Bloomberg, who has been rising in the polls, would be “unlikely to upset the apple cart.” A progressive like Bernie Sanders, on the other hand, could pose a significant risk, the strategist said.“Expect more two-way risks ahead,” McCormick said.(Disclaimer: Michael Bloomberg is seeking the Democratic presidential nomination. He is the founder and majority owner of Bloomberg LP, the parent company of Bloomberg News.)(Adds dollar move in sixth paragraph)\--With assistance from Felice Maranz and Ruth Carson.To contact the reporter on this story: Katherine Greifeld in New York at kgreifeld@bloomberg.netTo contact the editors responsible for this story: Jeremy Herron at jherron8@bloomberg.net, Jennifer Bissell-Linsk, Nick BakerFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

(Bloomberg) -- For all of Donald Trump’s complaints about the dollar’s strength, he may have himself to blame.One theory behind the greenback’s 2.5% climb so far this year has to do with the U.S. president’s soaring approval rating. While concerns about the coronavirus have certainly increased the demand for so-called safe haven assets like the dollar, there has also been a 70% correlation between Trump’s popularity and the U.S. dollar since his election, according to calculations from TD Securities.That relationship has come into sharper focus as Trump’s approval rating has shot to 46%, the highest in three years, according to Real Clear Politics. It mirrors a similar relationship noted by Wall Street analysts as well between equities and Trump’s rising odds of re-election, as measured by prediction markets.​The U.S. currency has been more closely tracking stocks rather than falling Treasury yields, which would typically drag down the dollar, said Mark McCormick, global head of FX strategy at TD Securities.“Regardless of how Trump feels about the dollar, he’s been good for the buck,” he wrote in a report. “It’s likely the case that U.S. risk assets, and by extension the USD, prefer the status quo to a progressive shift in the White House.”The Bloomberg Dollar Index rose 0.1% to the highest in more than four months during Asian trading Thursday.​The Trump campaign has floated the idea of another round of tax cuts and, if re-elected, he would likely pursue a sizable infrastructure package, McCormick said. Similarly, a more centralist candidate such as Michael Bloomberg, who has been rising in the polls, would be “unlikely to upset the apple cart.” A progressive like Bernie Sanders, on the other hand, could pose a significant risk, the strategist said.“Expect more two-way risks ahead,” McCormick said.(Disclaimer: Michael Bloomberg is seeking the Democratic presidential nomination. He is the founder and majority owner of Bloomberg LP, the parent company of Bloomberg News.)(Adds dollar move in sixth paragraph)\--With assistance from Felice Maranz and Ruth Carson.To contact the reporter on this story: Katherine Greifeld in New York at kgreifeld@bloomberg.netTo contact the editors responsible for this story: Jeremy Herron at jherron8@bloomberg.net, Jennifer Bissell-Linsk, Nick BakerFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

Walmart Inc might finally have found the sweet spot in Japan's food market with a fast-growing venture ranked third in a nascent online grocery sector, as the brick-and-mortar stores it bought into two decades ago continue their search for profit. The barely year-old tie-up between the U.S. supermarket chain's Seiyu and local e-commerce firm Rakuten Inc clocked 30% sales growth for late October through December versus the same period a year earlier when Seiyu was going it alone, said Rakuten Seiyu NetSuper Chief Executive Tamae Takeda.

Walmart Inc might finally have found the sweet spot in Japan's food market with a fast-growing venture ranked third in a nascent online grocery sector, as the brick-and-mortar stores it bought into two decades ago continue their search for profit. The barely year-old tie-up between the U.S. supermarket chain's Seiyu and local e-commerce firm Rakuten Inc clocked 30% sales growth for late October through December versus the same period a year earlier when Seiyu was going it alone, said Rakuten Seiyu NetSuper Chief Executive Tamae Takeda.

Electric vehicles have charged up investments around the world, but Australia is revelling in a slew of deals involving old-school petrol stations, with a bidding battle developing for one of its top fuel retailers, Caltex Australia. A shake-up in the structure of the fuel industry over the past decade, sparked by refinery closures and oil major retreats, has produced deals worth $33 billion including offers for Caltex, according to Refinitiv data. "Australia is a high-quality 'short'," said a banker involved in the tussle for Caltex, using the industry term for a market short on fuel and referring to Australia's stable demand.

Fuji Xerox Asia Pacific Pte Ltd announces the new addition of pink specialty dry ink for the production color printer Iridesse™ Production Press across the Asia Pacific region, to strengthen the printer's ability to handle printing needs in specialized colors.

In order to justify the effort of selecting individual stocks, it's worth striving to beat the returns from a market...

(Bloomberg) -- Indonesia’s central bank may be ready to cut interest rates again after a three-month pause as policy makers look to head off the impact of the coronavirus on Southeast Asia’s biggest economy.Bank Indonesia will probably lower its benchmark rate by 25 basis points to 4.75% Thursday, according to 19 of the 31 economists surveyed by Bloomberg. The rest see no change. The central bank, which reduced rates four times last year, has already flagged room for further easing.While Indonesia -- the world’s fourth most-populous nation -- is yet to record a single case of the deadly virus, officials are increasingly worried about the fallout from the epidemic. A shutdown of factories in China to contain the outbreak has disrupted supply chains, while travel curbs have hurt tourism across the region.“We expect a significant impact on Indonesia’s trade, tourism foreign exchange earnings and GDP growth from the global outbreak of the coronavirus,” said Satria Sambijantoro, an economist at PT Bahana Sekuritas in Jakarta. That’s likely to result in “front-loaded economic stimulus” from Bank Indonesia and the finance ministry, he said.Asia is stepping up efforts to blunt the impact of the coronavirus crisis with the Philippines, Thailand and Sri Lanka cutting interest rates in recent weeks, and others like Singapore planning significant fiscal stimulus.Here’s what to look out for in Thursday’s policy decision:Coronavirus FalloutThe government had been forecasting a pickup in growth this year to 5.3% but that’s now under threat because of the virus outbreak.Any action by the central bank will come on top of a fiscal boost the government is planning by accelerating spending, including on about $9.2 billion earmarked for villages and schools. Government revenue is under pressure though, dropping 4.6% in January from a year ago as corporate tax collection plunged 29%, Finance Minister Sri Mulyani Indrawati said Wednesday.The virus may also have an impact on inflation, which has so far remained subdued, coming in at 2.7% in January. Garlic prices surged almost 70% in Jakarta in just one week after shipments from China were disrupted. China accounts for about 80% of the world’s garlic supply, and Indonesia sources 90% of the root vegetable from there.Trade WorriesThe outlook for trade has deteriorated with a slump in exports in January set to continue. Indonesia is the world’s biggest exporter of coal and palm oil, and with China a major customer, the Trade Ministry has warned of a deeper hit to exports in the months ahead.A drop in exports would put strain on the current account deficit, a key concern for the central bank. The shortfall widened to 2.8% of gross domestic product in the fourth quarter from 2.6% in the previous three months.Stable CurrencyWhile the rupiah is up about 0.7% against the dollar since the start of the year, making it the best-performer in Asia, it has weakened in recent days. The central bank said Thursday it was intervening in the market to ease pressure on the currency stemming from worries over the virus.“The stability of the rupiah, despite external risks, should drive the central bank to prioritize economic growth, which is facing headwinds on multiple fronts,” said Mohamed Faiz Nagutha, an economist with Bank of America Securities in Singapore.“The central bank had also previously communicated that it stands ready to utilize its policy easing space at the ‘right timing’. Given the growing external risks and subdued domestic outlook, we believe the timing is right once again to commence monetary easing,” he said.(Updates with details on market intervention in 12th paragraph)\--With assistance from Tomoko Sato.To contact the reporter on this story: Karlis Salna in Jakarta at ksalna@bloomberg.netTo contact the editors responsible for this story: Nasreen Seria at nseria@bloomberg.net, Thomas Kutty AbrahamFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

(Bloomberg) -- Stocks came under pressure in Asia and U.S. equity futures retreated after Japan reported two deaths from the coronavirus and cases in South Korea jumped, spurring concerns about the spread of the disease outside China.Futures on the S&P 500 Index were down along with the offshore yuan after the Japanese report. The dollar rose against most Asian currencies, and held near the strongest against major counterparts since May 2017. Australia’s dollar reached its lowest against the greenback since the global financial crisis after a monthly jobs report underscored slack that may keep monetary policy easy. Treasuries edged up.Japan’s Topix earlier climbed as much as 1.2% after an overnight tumble in the yen boosted prospects for exporter earnings. The yen slumped past 111 per dollar with little immediate trigger; market participants ascribed a host of reasons, ranging from disappointing economic news to early positioning before the fiscal year-end next month. The currency Thursday took back a sliver of the biggest losses since August.While the number of new coronavirus cases in China continues to come down -- epicenter-province Hubei reported a steep drop Thursday, though that was tied at least in part to another change in methodology -- those outside are sparking alarm. Japan, which has come under criticism for insufficient efforts to contain the disease, said two people from a quarantined ship have died.“Over the next couple of months we are going to see very bad economic data coming out of China and the rest of the Asian markets,” Suresh Tantia, senior investment strategist at Credit Suisse, told Bloomberg TV in Singapore. “Analysts are likely to revise down the earnings estimates. So, after this rebound, we don’t see much value in Asian markets.”Elsewhere, oil gained as U.S. sanctions on Russia’s largest producer and conflict in Libya put the focus on supply threats.Here are some key events coming up:Earnings season rolls on, with results from Deere & Co. set for Friday.Indonesia is expected to cut interest rates on Thursday, following emerging-market peers that have already moved.Group of 20 finance ministers and central bank chiefs are scheduled to meet Feb. 22-23 in Riyadh, Saudi Arabia, and are expected to discuss efforts to support growth amid the coronavirus threat.These are the main moves in markets:StocksFutures on the S&P 500 Index were down 0.1% as of 1:22 p.m. in Hong Kong. The benchmark reached another record high Wednesday.Japan’s Topix index rose 0.3%. Hong Kong’s Hang Seng declined 0.6%.Shanghai Composite rose 1%.South Korea’s Kospi index fell 0.5%.Australia’s S&P/ASX 200 Index rose 0.3%.Euro Stoxx 50 futures fell 0.3%. CurrenciesThe yen was flat at 111.36 per dollar after sliding about 1.4% on Wednesday.The offshore yuan fell 0.3% to 7.0321 per dollar.The euro was at $1.0797, little changed.The Dollar Index was at 99.680, after reaching its highest since May 2017 Wednesday.BondsThe yield on 10-year Treasuries was at 1.56%, down one basis point.Australia’s 10-year yield slid four basis points to 1%.CommoditiesWest Texas Intermediate crude advanced 0.5% to $53.54 a barrel.Gold dipped 0.2% to $1,609.37 an ounce.\--With assistance from Cormac Mullen.To contact the reporter on this story: Adam Haigh in Sydney at ahaigh1@bloomberg.netTo contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Andreea PapucFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.