By Rocky SwiftTOKYO (Reuters) -The Japanese operator of Uniqlo lowered its second-half underlying profit forecast by 10 billion yen ($68 million) on Thursday on expectations U.S. tariffs will hit the profitability of its fast-growing North American clothing business.The majority of Uniqlo products sold in the United States are produced in Southeast Asia where garment export hubs were hit with tari ...
By Terje SolsvikOSLO (Reuters) -Norway’s $1.7 trillion sovereign wealth fund will adhere to broad risk diversification in the face of turbulent markets and uphold its long-term investment strategy despite incurring huge losses so far this year, the government said on Thursday.U.S. President Donald Trump announced hefty tariffs on imports to the United States last week, only to pause many of the ...
Investing.com -- Morgan Stanley has cut exposure to Chinese technology stocks and turned to more defensive names, as rising trade tensions and macro uncertainty weigh on risk assets.In its latest China equity strategy update, the bank removed GDS Holdings (NASDAQ:GDS) and Meitu Inc (HK:1357) from its China/HK Focus List and downgraded the Information Technology sector to Equal Weight.In their pl ...
Investing.com -- Citigroup Inc (NYSE:C). is advising its affluent clients to exercise caution amidst the current extreme market volatility. The bank’s global wealth head, Andy Sieg, suggested that while the "peak shock" may have passed, it is not the right time to add to risky assets.The Wall Street bank’s advisers are recommending clients to refrain from buying the dip, a term used when inv ...