Asia Market Movers: Japan FX intervention flips yen from undervalued to overvalued, StanChart says

Thursday, 14 May, 2026 Central Banks Japan FX intervention flips yen from undervalued to overvalued, StanChart says Standard Chartered says suspected Japanese FX intervention totalling around $65 billion has shifted the yen from slightly undervalued to slightly overvalued, with authorities appearing to defend a 150 Central Banks PBOC is expected to set the USD/CNY reference rate at 6.7888– Reuters estimate The People’s Bank of China is due to set the daily USD/CNY reference rate at around 0115 GMT (2115 US Eastern time), a fixing that remains one of the most closely watched signals in Asian foreign exch Learn more Stock market update UBS and Morgan Stanley bullish on Chinese stocks amid AI and resilience story UBS and Morgan Stanley have turned positive on Chinese equities, citing earnings recovery, AI momentum and China's low sensitivity to oil price swings, as the Shanghai Composite climbs to an 11-year h News UK house prices fall at fastest pace since 2023 as Iran war hits sentiment The RICS UK house price balance fell to -34 in April from -25 in March, the weakest reading since November 2023, as Iran war fallout and rising mortgage rate expectations weighed on buyer sentiment. A Stocks Cisco after hours stock 20% price surge - here's why (cutting ~4000 jobs) Cisco is cutting circa 4,000 jobs in a restructuring costing up to $1 billion, freeing resources for AI, silicon and security investment after AI orders from hyperscalers surpassed its full-year targe Stock market update Morgan Stanley lifts S&P 500 target to 8,000 on earnings growth story Morgan Stanley raised its S&P 500 year-end target to 8,000 from 7,800, citing strong earnings growth driven by AI adoption, while warning that rate hikes remain the primary threat to its bullish c Commodities Hormuz closure drives OPEC to slash demand outlook as OPEC+ output falls 1.74 million bpd OPEC has cut its 2026 global oil demand growth forecast to 1.17 million bpd from 1.38 million bpd, citing the Iran war, while OPEC+ output fell 1.74 million bpd in April on the Hormuz closure. News ou Commodities UAE denies Netanyahu held secret meeting with Emirati president during Iran war The UAE has denied Israel PM Netanyahu visited the country for a secret meeting with its president during the Iran war, contradicting a claim by Netanyahu's office of an historic diplomatic breakthrou Learn more News Rubio wants to China to come to the rescue in Iran war Secretary of State Marco Rubio is pressing China to use its leverage against Iran over Tehran's actions in the Persian Gulf. In a Fox interview Rubio said he hopes to convince China to play a more act

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