Aurelia Butler

(Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist.Asia kicks off the last week of the quarter on Monday, with markets badly bruised by the surge in U.S. bond yields following the Federal Reserve’s hawkish pause last week and investors looking to get through the week without any further whiplash.They will be hoping for some sort of bounce, even if it’s only of the dead cat variety, from the most turbulent week since the U.S. regional banking shock in March.This may hinge largely on whether the U.S. bond market regains its footing. Benchmark two- and 10-year Treasury yields are the highest since 2006-07, 10-year real yields have broken above 2%, and asset markets around the world are buckling under the higher-for-longer U.S. rate outlook.The dollar is strengthening as a result, and as emerging market investors are all too aware, the combination of high U.S. debt servicing costs and a strong dollar are rarely a welcome combination. Financial conditions across emerging markets are the tightest in 11 months, according to Goldman Sachs.In some ways, the global market sell-off after the Fed’s new rate projections were released on Wednesday was remarkable, and highlights the power of the U.S. central bank over all others.Yes, the Fed sent out a hawkish signal. But the Bank of England, Swiss National Bank and Bank of Japan last week were surprisingly dovish, the euro zone and Chinese central banks are also leaning dovish, Brazil’s is slashing rates, and many others have stopped hiking.On balance, the global policy picture is pretty dovish, with one notable exception. Yet markets still cratered.The MSCI Asia ex-Japan Index lost 2.3%, its biggest fall in five weeks, the MSCI World Index’s 2.67% slide was its steepest fall since March, the 10-year U.S. Treasury yield’s 12-basis point rise was its biggest weekly rise since July and it has now risen eight weeks out of the last 10.The MSCI Asia ex-Japan Index is on track for a 3% loss over the July-September period, its second quarterly loss in a row and seventh out of the last nine.The Asian economic and policy calendar on Monday is relatively light with a batch of indicators from Vietnam – including inflation, trade and third-quarter GDP – and Singapore inflation the main data points.The Bank of Thailand’s latest policy decision is on Wednesday, and activity really picks up on Friday with a heavy slew of data from across the region which spills into the weekend with China’s official and non-official purchasing managers index reports for September.Here are key developments that could provide more direction to markets on Monday:- Singapore inflation (September)- Vietnam inflation, trade, industrial production (September)- Vietnam GDP (Q3) (By Jamie McGeever; Editing by Lisa Shumaker) More

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By Katherine MastersNEW YORK (Reuters) – E-commerce giant Shein is sending more low-priced apparel and home goods to U.S. warehouses from China to speed up shipping times for shoppers, according to data from global trade analysis firm ImportGenius provided exclusively to Reuters. Shein, known for its $10 tops and $5 biker shorts, until recently has made many American purchasers face wait times of up to two weeks or more to receive their goods. This, say analysts, has put the fast-fashion e-tailer at a competitive disadvantage to bigger rivals such as Target, Walmart (NYSE:WMT) and Amazon.com (NASDAQ:AMZN), particularly during the holiday shopping season. Analysts told Reuters that Shein would likely continue to expand its bulk shipments to the U.S. in a bid to compete with established retailers on delivery times as it eyes an initial public offering.The import data seen by Reuters shows Shein’s efforts to narrow the speed gap with retailers such as Amazon, which has made a push to offer next-day or two-day shipping to shoppers who pay $139 per year for its Prime membership service. The move also marks a strategy shift for Shein, which has traditionally flown goods directly from China to shoppers. Shein lacks any physical stores in the U.S. According to the import data seen by Reuters, Shein’s ocean shipments of apparel have increased more than 2,000% in the last two years, soaring from 312,385 pounds (141,695 kg) imported in bulk on container ships in 2021 to over 6.8 million so far this year. Virtually all came from China, where Shein relies on a network of suppliers to produce its expansive assortment of low-priced merchandise.In 2022, Shein opened a warehouse in Whitestown, Indiana, where it generally stores that inventory to then be shipped to shoppers within four to seven business days.ANCHORS AWEIGH Shein had already launched a faster delivery option for goods stored in the U.S., called “QuickShip,” in 2022. The same year, the retailer’s bulk imports brought to the U.S. by ocean freight increased by nearly 790%, from over 312,000 pounds to more than 2.7 million, according to the ImportGenius data.Goods eligible for QuickShip are delivered significantly faster than Shein’s standard shipping times, which can range from nine to 14 days, according to estimates on its website.Facing long waits, shoppers will likely make “infrequent” purchases from Shein, particularly during the key holiday shopping season, analysts at UBS said on Tuesday. The ImportGenius data did not provide detailed descriptions for Shein products imported in bulk on container ships. Importing high-demand products in bulk helps Shein save money, a person familiar with Shein’s strategy said, as ocean shipping is significantly less costly than air freight.Shein still sends the majority of its merchandise by air in individually addressed packages – most of which enter the U.S. under the “de minimis” trade provision that exempts them from tariffs. A June report by a U.S. House of Representatives committee estimated that Shein and China-founded e-tailer Temu, owned by PDD Holdings, bring in nearly 600,000 packages a day under the exemption. Shein declined to comment on the estimate.Shipping goods by air directly from China is a strategy that helps the e-tailer avoid unsold inventory piling up in warehouses, according to Juozas Kaziukenas, founder of e-commerce analytics firm Marketplace Pulse. Prior to 2020, Shein imported no clothing by ocean freight, according to the ImportGenius data. Shein has said it plans to increase its U.S. storage space with an expansion of its Indiana facility and a new warehouse in Cherry Valley, California, expected to open within months. More