Евгения Корнейчук

Evgeniya is an expert working with VIP clients. She helps traders master different market tools. Eugene knows what assets will bring the highest profit to the trader in a short time.
Evgeniya teaches traders to set orders and open profitable trades. She also gives practical recommendations on how to minimize expenses.
Evgeniya Korneychuk has been consulting clients for over ten years.

Oil up amid growing demand, crippled supply

Oil prices climbed up on Thursday, sustaining their strong overnight gains amid a growing fuel demand. Crude stocks were also in decline as output remained handicapped in the hurricane-ravaged U.S. Gulf of Mexico. The market was also boosted by a broader return to risk assets as concerns over a potential default by China’s Evergrande Group […]

Stocks find relief amid Evergrande fiasco

Stocks found respite on Wednesday after the embattled Evergrande Group announced that it would be able to pay a coupon on one of its bonds. The property giant’s statement eased some jitters, but investors are still cautious due to the U.S. Fed’s looming policy decision. China dropped on its first day of trade following a […]

IMF, World Bank call for more COVID-19 vaccine for poor countries

International Monetary Fund Managing Director Kristalina Georgieva, together with other multilateral-organization leaders, asked nations with high COVID-19 inoculation rates to increase their efforts in providing doses to low-and middle-income countries. Georgieva and the heads of the World Bank Group, World Health Organization, and World Trade Organization expressed concern that the goal to vaccinate at least […]

Oil drops but retains Wednesday gains

Oil fell on Thursday in Asia but has kept most of its Wednesday gains following a larger-than-expected draw in U.S. crude oil stocks that gave the commodity a lift. Brent oil futures crept down 0.01% to $75.45 by 10:37 PM ET (2:37 AM GMT), while West Texas Intermediate (WTI) futures shed 0.04% to $72.58. Both […]

Canada inflation rate hikes ahead of election

Canada’s annual inflation rate went up to an 18-year high in August, propelled by broad upward price pressures. The inflation hike was shown by data released on Wednesday, days ahead of the country’s federal election that could spell the ouster of Canadian PM Justine Trudeau’s Liberals. The rate climbed up to 4.1% in August, the […]

Indonesia posts strong exports, trade surplus

Exports in Indonesia touched a record high of $21.42 billion in August. Data from the statistics bureau showed that an increase in commodity shipments drove the country’s highest monthly trade surplus in record. Shipments in August climbed 64.1% from a year earlier, exceeding analysts’ forecast of a 36.90% gain. Sales in Indonesia’s top commodities like […]

Higher material costs aggravate Japan’s wholesale inflation

Wholesale inflation in Japan lingered close to its 13-year high in August. A strong global demand caused a continuous increase in raw material imports, which may force companies to raise prices for household consumers. However, analysts expected a minimal price increase following COVID-19 lockdowns’ blow on domestic demand. The corporate goods price index (CGPI) that […]

Turkey posts weak factory output, high account deficit in July

Turkey recorded a year-on-year increase of 8.7% in its industrial output in July. However, it hugely missed forecasts after a strong rebound in recent months. Latest data also showed the country’s higher-than-expected account deficit. According to the Turkish Statistical Institute, industrial output declined 4.2% month-on-month in July on a calendar and seasonally adjusted basis. The […]

Asian shares dip amid U.S., China reports

Asian shares went off with a poor start on Monday, facing a week packed with major U.S. and China economic data. Japan’s Nikkei stopped just short of a height last attained in 1990. Hopes for renewed stimulus from a new prime minister boosted the Nikkei by 4.3% during the previous week, while Topix reached the […]

Oil up as U.S. recovers from Ida

Oil gained for a second session on Monday as worries over closed production in the U.S., the world’s top oil producer, supported the market along with expectations for higher demand. US production was halted as Hurricane Ida hit the country. Brent crude rose 0.9%, or 67 cents, to $73.59 a barrel. U.S. West Texas Intermediate […]

Aussie stocks climb higher at trade’s close

Australian stocks edged higher today following Friday’s close, as gains in the metals and mining and materials and resources sectors sent shares higher. The S&P/ASX 200 experienced a 0.50% increase at the close in Sydney. Among the session’s top performers on the S&P/ASX 200 is Nickel Mines Ltd, which climbed up 8.54% or 0.085 points […]

Gold down amid uncertain Fed tapering timeline

Gold dropped in Asia on Friday and was set to end the week on a down note. The safe-haven asset declined as the dollar regained its strength and uncertainty over the U.S. Federal Reserve’s timeline for asset tapering continued to grow. Gold futures inched down 0.03% to $1,799.45 by 12:27 AM ET (4:27 AM GMT), […]

Strong foreign demand lifts Germany’s July industrial orders

Germany’s industrial orders surprisingly increased in July based on official data released on Monday. Its latest figure touched a post-reunification high, indicating a strong start to the second half. The Federal Statistics Office posted a seasonally adjusted 3.4% gain in orders for goods ‘Made in Germany’. It was better than analysts’ projection of a 1.0% […]

Dollar hovers near one-month low on weak U.S. jobs report

The dollar performed well during the start of the trading week in Asia. However, it lingered close to a one-month low following investors’ stalled expectations on the United States’ Federal Reserve’s asset tapering timeline. The U.S. Dollar Index that measures the greenback against other major currencies nudged 0.14% higher to 92.165 by 10:51 PM ET (2:51 AM […]

Gold down as investors await US jobs report

Gold dropped on Thursday in Asia as investors await the latest US jobs report. There were very little movements as investors look to the report for clues about the US Federal Reserve’s plan regarding asset tapering, with preceding employment data missing expectations. Gold futures fell 0.13% to $1,813.65 by 12:29 AM ET (4:29 AM GMT). […]

Euro stocks soar, boosted by sector gains

European stocks climbed higher on Thursday, boosted by travel companies and automakers. However, gains were capped across the board by doubts over the monetary policy outlook and indications of slowing global growth. The pan-European STOXX 600 index inched up 0.2% even as Asian shares edged down amid worries over China’s economy following a run of […]

COVID-19 disrupts Brazil’s economic rebound

Brazil saw an economic contraction in the three months to June following the coronavirus pandemic’s blow on demand, according to government statistics agency IBGE. Brazil’s gross domestic product dropped 0.1%, missing economists’ median forecast growth of 0.2%. The figure was also a sharp decline from the first quarter’s 1.2% expansion. COVID-19 restrictions in major cities […]

Australia home costs surge in August

Home prices in Australia climbed in August, touching the fastest annual rate since 1989. The growth was attributed to COVID-19 restrictions that hit supply, making houses unffordable for many. National home prices increased 1.5% based on the data released by property consultant CoreLogic on Wednesday. It soared 20.8% due to a pandemic-driven move to work […]

Gold dips as investors wait for US data

Gold edged down on Wednesday in Asia as investors kept a wary stance as they waited for the latest US jobs report. Data from the report could provide insight into the US Federal Reserve’s timeline for asset tapering and interest rate hikes. Gold futures dipped 0.06% to $1,817.05 by 12:31 AM ET (4:31 AM GTM). […]

Oil down amid renewed virus fears

Oil prices dropped on Thursday for the first time in a week. Concerns over demand recovery were brought back by renewed restrictions that have been imposed to tackle COVID-19 infections. Brent crude edged down 0.6%, or 45 cents, at $71.80 a barrel by 0222 GMT, after climbing up 1.7% on Wednesday. US oil dropped 0.8%, […]

Gold down, investors cautious, ahead of Fed symposium

Gold fell on Thursday in Asia, with investors treading lightly ahead of a US Fed symposium that could give clues on the timeline for asset tapering. Gold futures edged down 0.10% to $1,789.15 by 12:16 AM ET (4:16 AM GMT). The yellow metal’s futures dropped 0.7% in the previous session, the largest one-day decline in […]

Asian shares up in tandem with commodities

Asia Pacific stocks made gains on Wednesday, heading strongly into the session due to a rally in commodities and after US counterparts recorded a strong end to the last session. Japan’s Nikkei 225 climbed up 0.36% by 9:45 PM ET (1:44 AM GMT). South Korea’s KOSPI made a 0.23% increase, with the Bank of Korea […]

BOJ cautions of economic risks as COVID-19 lingers

Bank of Japan board member Toyoaki Nakamura had cautioned the country about the latest surge in COVID-19 infections’ impact to the economy. However, he expressed optimism that demand would pick up once consumers felt comfortable enough to start spending. Japan will recover once the pandemic’s blow to economy diminishes and as a strong global demand, […]

Germany’s economy recovers in Q2

Germany’s economy improved more than anticipated in the second quarter. The development was driven by the lifting of COVID-19 restrictions that encouraged consumers to tap into record savings accumulated during the winter shutdown and the government’s massive debt-financed stimulus program. Gross domestic product jumped an adjusted 1.6% on the quarter after a revised 2% contraction […]

Euro stocks extend recovery

European stocks sustained their recovery on Tuesday following the full US approval of a COVID-19 vaccine. The vaccine’s approval lifted Wall Street to record highs, while the latest data showed a stronger-than-expected economic recovery in Germany. The pan-European STOXX 600 index went up 0.3% by 0711 GMT after the previous week’s selloff knocked it lower […]

Dollar drops, riskier currencies posts gains

The dollar weakened on Monday morning in Asia, though it placed near the highest level in more than nine months. The Australian dollar stayed near multi-month lows due to lingering concerns on the COVID-19’s impact to economic recovery. The U.S. Dollar Index that measures the greenback against other major currencies dropped 0.17% to 93.352 by 10:27 PM […]

Oil up as investors begin bargain-hunt

Oil rose in Asia on Monday, reversing its course from last week’s seven-day losing streak. Investors were preoccupied with bargain hunting, but questions remain on how the continually increasing numbers of COVID-19 cases globally will affect fuel demand. Brent oil futures soared 1.30% to $65.59 by 10:58 PM ET (2:58 AM GMT), after reaching their […]

Dollar rises on investor risk aversion

The dollar posted gains in Asian trade on Monday, hovering close to a nine-and-a-half month high. The lingering COVID-19 pandemic woes provided the safe-haven asset a steady boost. The U.S. Dollar Index that measures the greenback against other major currencies tallied a 0.01% increase to 93.602 by 10:33 PM ET (10:33 AM GMT). The USD/JPY pair climbed 0.01% to […]

Sri Lanka first to raise interest rates in Asia

The Central Bank of Sri Lanka (CBSL) raised its interest rates to combat inflationary pressures and high imports that contributed to the rupee’s 8% devaluation this year. It was the first central bank in Asia to do so. The CBSL increased the existing deposit facility rate and lending facility rate by 50 basis points each, […]

Asian shares veer away from year lows, NZ maintains rates

Asian shares crept away from near year-to-date lows on Wednesday despite Wall Street’s overnight declines. Meanwhile, New Zealand’s central bank beat expectations by not increasing interest rates as the country went into lockdown due to cases of the coronavirus’ Delta variant. The New Zealand dollar hit a nine-month low of $0.6868 after the Reserve Bank […]

New Zealand stalls rate hike over COVID-19 concerns

The central bank of New Zealand postponed its planned rate hikes on Wednesday. This came as policymakers shifted their focus in the wake of newly imposed lockdowns due to a surge in COVID-19 infections. However, the bank remains in anticipation of a raise before the end of the year. The Reserve Bank of New Zealand […]

Dollar weakens, NZD climbs on delayed rate hikes

The dollar performed weakly on Wednesday morning in Asia. Meanwhile, the New Zealand dollar (NZD) recorded gains following the latest policy statement of the Reserve Bank of New Zealand (RBNZ). The U.S. Dollar Index that measures the greenback against other major currencies dropped 0.08% to 93.073 by 11:51 PM ET (3:51 AM GMT). The USD/JPY pair climbed 0.05% to 109.62. […]

RBA ready to act should pandemic slow economic recovery

As Australia grapples with COVID-19 restrictions to curb a new surge in a more contagious Delta variant, the Reserve Bank of Australia (RBA) assured to evaluate its bond-buying program considering the nation’s economic factors and health situation. The central bank maintained its bullish sentiments made two weeks ago with a planned tapering of bond purchases. […]

Dollar, safe-haven currencies rise as recovery optimism dims

The dollar nudged higher on Tuesday morning in Asia. Factors including poor economic data from China, the lingering COVID-19 Delta variant, and the current political instability in Afghanistan all contributed to dampen the market’s risk appetite, which boosted the safe-haven dollar. The U.S. Dollar Index that measures the greenback against other major currencies climbed 0.05% to 92.668 […]

Asian shares drop amid virus fears, Afghanistan unrest

Asian shares went down in early trade on Tuesday amid mounting concerns over the surge in the number of coronavirus infections due to the Delta variant. The turmoil in Afghanistan has also overshadowed the overnight strength on Wall Street. The continued increase of novel variants of the COVID-19 and its effect on the global economy […]

Japan’s economy recovers in Q2

Japans’ economy beat recovery expectations in the second quarter after a decline at the start of the year. The development indicated the country’s consumption and capital expenditure’s recuperation from the COVID-19 pandemic blow. Preliminary gross domestic product (GDP) data on Monday showed an annualized 1.3% growth in April-June after a 3.7% drop in the previous […]

China’s factory output, retail sales miss forecasts

China’s factory output and retail sales fell short of expectations after sharply slowing in July. This was owed to the latest surge of COVID-19 outbreaks and floods that grappled business operations and disrupted the economy’s recovery. The country’s industrial production jumped 6.4% year-on-year in July based on the data from the National Bureau of Statistics […]

Dollar weakens, investors look for hints on Fed taper’s timeline

The dollar performed poorly on Friday morning in Asia but hovered close to a four-month high. Meanwhile, investors remain in anticipation of the United States’ Federal Reserve’s timeline for its asset tapering and interest rate hikes. The U.S. Dollar Index that measures the greenback against other major currencies tallied a 0.08% crash to 92.968 by 11:27 PM […]

Economists cut Japan’s economic growth forecast in Q3

Japan’s economy is seen to expand slower than expected in the third quarter as a spike in new coronavirus infections continues to disrupt the country’s economic rebound. Based on the Aug. 2-11 poll of around 40 economists conducted by Reuters, the economy was projected to grow an annualized 2.7% in the July-September quarter. This was […]

Dollar falls, slow inflation soothes pressure on Fed taper

The dollar dropped in early European trade on Thursday. This came after hints of slowing inflation in the United States eased pressure on the Federal Reserve to start its massive bond-buying program. The Dollar Index that measures the greenback against other major currencies dropped around 0.1% to 92.898. The USD/JPY pair remained at 110.41, while […]

Oil rebounds from three-week low, kept in check by virus concerns

Oil went up by more than 1% on Tuesday, recovering from its losses earlier in the previous session where it hit a three-week low. However, the black liquid’s gains are likely to be hampered by concerns over the increasing number of COVID-19 cases and fears that China’s restrictions will affect fuel demand. Brent crude gained […]

Australia’s business confidence drops as Delta variant surges

Australia’s business sentiments fell in July as the COVID-19 Delta variant infections resulted in stricter stay-at-home orders. Virus leaks also triggered emergency lockdowns in other major cities. National Australia Bank (NAB) on Tuesday said business confidence dropped to minus-8 points from plus-11 in June. The conditions index that measures hiring, sales, and profits declined to 11 […]

UK home prices increase in July

British home prices accelerated in July after a drop in June. This came after pandemic-driven demand for larger homes weakened the impact of a reduced tax break for buyers, mortgage lender Halifax said on Friday. House prices in July nudged 0.4% higher, compared with a monthly fall of 0.6% in June. In annual terms, prices […]

Gold up as dollar inches down, investors await US data

Gold went up in Asia on Wednesday, boosted by a weakening dollar. Meanwhile, investors continue to wait for the release of the latest US jobs data. Gold futures crept up 0.09% to $1,815.80 by 12:49 AM ET (4:49 AM GMT). The dollar, typically moving inversely to gold, dipped on Wednesday and approached recent lows. Going […]

Gold drops as investors await US jobs report

Gold took a dip on Monday morning in Asia even as the dollar remained near a one-month low. Investors are also paying close attention to the status of the US labor market as they wait for the country’s latest job report. Gold futures fell 0.27% to $1,812.35 by 1:31 PM ET (5:31 AM GMT), rolling […]

Rising costs, Delta variant devastate Asian factory activity

Asia’s factories hit a snag in July following a rise in input costs and a surge in coronavirus cases that disrupted a strong global demand. This development highlighted the region’s weak recovery from the pandemic. China’s Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) dropped to 50.3 in July from June’s 51.3, touching the lowest level in […]

Dollar falls on Fed’s dovish stance

The dollar placed around a two-week low after dropping on Thursday in Asian trade. It was dragged down by the Federal Reserve Chairman Jerome Powell’s remark of an unlikely interest rate hikes. The U.S. Dollar Index that measures the greenback against other major currencies tallied a 0.17% crash to 92.157. This came after three consecutive declines during […]

Dollar rises ahead of Fed’s new policy

The dollar rose in Asian trade on Wednesday driven by a tech crackdown in China and caution before the Federal Reserve’s latest policy decision. However, the greenback remained below recent peaks. The U.S. Dollar Index that measures the greenback against other major currencies edged up 0.06% to 92.493. The USD/JPY pair climbed 0.03% to 109.80. The AUD/USD pair fell 0.09% to […]

Oil rises, still kept in check by virus threat

Oil rose in Asia on Wednesday as a draw in US crude supplies boosted expectations that demand will overcome supply growth. However, rising numbers of coronavirus cases worldwide have dampened oil’s gains. Brent oil futures climbed up 0.65% to $74 by 11:26 PM ET (3:26 AM GMT) following a 2-cent dip in its first decline […]

Car chip shortage to end in 2022, smartphones seen to be hit next

Automotive industry executives said the global semiconductor shortage could last until the second quarter of 2022. However, smartphone production is seen to be hit next, indicative of a possible shortage in supply of appliances and industrial equipment. Chief economist Iris Pang of ING Greater China shared the automotive sector has been hit the hardest this […]

South Korea shows biggest economic growth in ten years

South Korea’s economy grew faster on an annual basis in the second quarter, achieving its fastest year-on-year growth in a decade driven by strong export demand and investment. The country’s economy is projected to have grown at its fastest pace since the fourth quarter of 2010 despite a slowdown from a solid rise at the […]

U.S., China’s demand fuels Japan’s exports

Hopes were up for an economic recovery in Japan following a surge in exports in June fuelled by the United States’ demand for cars and China’s chip-making equipment needs. Japan saw a 48.6% export growth in June from a year earlier, the country’s double-digit gain for four straight months despite its problems with global chip […]

Stocks tumble as new virus outbreaks cast shadow on global economic recovery

Asian stocks fell on Tuesday as investor outlook continued to darken amid increasing concerns over the COVID-19 delta variant. Fears of the virus’ negative impact on the global economic recovery sent riskier assets on a steep downward trend. MSCI’s gauge of Asia Pacific stocks outside of Japan experienced losses of almost 1%, while Australia’s S&P/ASX […]

Japan stocks dip as trade closes

Japan stocks saw a decrease after the close on Friday, as losses in the Paper & Pulp, Railway & Bus and Real Estate sectors took the shares in a downward curve. Nikkei 225 plummeted 0.98% at the close in Tokyo. The Japanese index’s top performers of the session were Chiyoda Corp., which flew 7.09% or […]

Gold dips, approaches fourth weekly gain after Powell boost

Gold dipped on Friday morning in Asia even as it headed toward a fourth consecutive weekly gain. The safe-haven asset was boosted by Federal Reserve Chairman Jerome Powell’s pronouncement that any inflation will be transitory and that the central bank would continue to support the economy. Gold futures slipped 0.5% to $1,828.10 by 12:20 AM […]

Oil’s worst week looms amid OPEC+ worries, virus concerns

Oil is set for its largest weekly decline since mid-March as the rising number of COVID-19 cases in various parts of the world, coupled with a murky prospect that the Organization of Petroleum Exporting Countries and allies (OPEC+) would reach a deal to boost supplies, cast uncertainty on the short-term outlook. Futures in New York […]

World Bank trims Thailand’s 2021 economic growth outlook

The World Bank on Thursday projected Thailand’s 2021 economic growth at 2.2%, lower than the 3.4% initially forecasted. The projection cut was attributed to the country’s weak tourism and a third wave of COVID-19 infections. The World Bank said it expects Thailand’s economy to return to its pre-pandemic levels in 2022, following a slow and […]

Looser lockdowns, global vaccination accelerate China’s export growth

China’s export recorded faster-than-expected growth in June fuelled by a strong global demand as pandemic restrictions eased and vaccination rollouts accelerated worldwide. However, a customs official on Tuesday warned of a slowdown in trade growth in the second half of 2021 following a surge of the Delta virus variant in some countries. Exports in dollar […]

Asian shares rebound ahead of Fed’s Powell’s testimony

Asian shares experienced a relief rally on Monday as Wall Street saw record highs and China eased up policies. These developments helped soothe apprehensions on global growth, although several possible pitfalls remain looming ahead of the week. In the United States, data on inflation could potentially cause worries ahead of Federal Reserve Chair Jerome Powell’s […]

Greenback hits near three-month high, Fed minutes released

The dollar notched up near its three-month high against other major currencies on Thursday following confirmation of the central bank’s move toward tapering its asset purchases as soon as this year. The decision was established after minutes of the Federal Reserve’s June policy meeting was posted yesterday. The dollar index, which tracks the greenback against […]

Japan’s ruling party considers campaign promise of cash stimulus plan as election nears

Japan’s Liberal Democratic Party plans to dispense a cash payout of 100,000 yen ($901.55) to its low-income citizens in its bid to resolve the growing pandemic-driven social gap. The party’s research council chief, Hakubun Shimomura, said one of the party’s campaign promises would be a government proposition to include cash payout in a new economic […]

Gold up, investors tread lightly ahead of US employment data

Gold saw a rise in Asia on Friday morning, but investors were still avoiding high stake gambles as they await the release of critical US employment data that could affect the US Federal Reserve’s recent hawkish stance on monetary policy. Gold futures went up 0.18% to $1,780 by 9:50 PM ET (1:50 AM GMT), after […]

UK bans Binance as crypto crackdown continues

The Financial Conduct Authority (FCA), UK’s financial regulator, stated that Binance, one of the world’s premier cryptocurrency exchanges, can no longer conduct any further regulated activity in the region even as it issued a warning to consumers regarding the platform, which is already being increasingly scrutinized in other countries as well. In a notice issued […]

U.S. unemployment claims dipping faster in States causing federal benefit end

Continuing claims for US unemployment insurance have plunged more rapidly in recent weeks resulting in terminating the federal benefits in summer compared to states with persisting $300 supplement every week until the fall. A Reuters analysis of weekly federal unemployment data showed that from the week ending May 1 through the week ending June 12, […]

China’s Bitmain halts sales of cryptocurrency mining machines following Beijing’s cryptomining ban

Bitmain, China’s largest manufacturer of cryptocurrency mining machines has stated it is discontinuing selling its products in the spot market in order to lessen selling pressure in pursuance of Beijing’s ban on bitcoin mining. The manufacturer also stated that it is searching overseas for “quality” power supplies along with its clients in different countries including […]

UK sees highest increase in house prices in six years

British home prices accelerated 0.8% from mid-May to early June, touching their sharpest level of growth since 2015. The expansion was owed mainly to a shortage of available housing, property website Rightmove reported on Monday. The figure stood lower than the 1.8% drop recorded a month ago, pointing to a minimal decline.  Nonetheless, the reading […]

Asian shares gain; on track for weekly loss on hawkish Fed

Asian share markets reached high grounds on Friday, but the upswing was viewed fleeting as they head towards a week of losses. The dollar also peaked as investors assess the Federal Reserve’s decision of implementing rate hikes in 2023. After four subdued sessions, MSCI’s broadest index of Asia-Pacific shares outside Japan jumped 0.01%. Hong Kong’s […]

UK posts sustained manufacturing rebound, upbeat investment

 British manufacturers have boosted their hiring and investment as the country emerges from the coronavirus pandemic. The series of increase seen in the manufacturing sector could be attributed to an increase in new orders, an industry survey showed on Monday. Trade body, Make UK, and Accountants BDO reported an expansion in their manufacturing output, the […]

Bitcoin declines on Musk’s tweet; still on track for weekly gain

Bitcoin had crashed more than 3% on Friday as Tesla head Elon Musk had tweeted yet again about the cryptocurrency. While this brought in speculations about the company’s investment withdrawal, the virtual coin is still on track for its strongest weekly earning in about a month as it tries to recover from a drop seen […]

Taiwan seals $15.2 billion fresh funding to cushion COVID-19 impact

A total of T$420 billion ($15.20 billion) in fresh stimulus spending was approved by Taiwan’s parliament on Monday in a bid to lift the country’s economy after the COVID-19 pandemic drag. A surge in coronavirus cases has prompted Taiwan to reinstate restrictions, limiting personal gatherings and shutting entertainment venues while it tries to accelerate its […]

ECB Anticipated To Extend Elevated Pace of Bond-Buying

Economists and investors highly expect the European Central Bank to keep its emergency bond-buying current level despite a zooming economic recovery underway. HSBC Holdings Plc, UBS Group AG, and ABN Amro Bank NV are among the financial institutions that expect the Governing Council to extend its current stimulus settings on June 10. Economists surveyed before […]

Gold dips over rising dollar, US Treasury yields as U.S. inflation data underway

The safe-haven gold dipped on Friday trade in Asia as the dollar and U.S. yields rose, pressuring gold. This as investors await crucial U.S. inflation data to be released later in the day. Gold futures lowered 0.08% to $1,894.10 by 11:52 PM ET. It came from breaching the $1,900 mark during the previous session. The […]

Gold Dips From Over-Four-Month High As Investors Await U.S. Data

Gold fell on Thursday trade in Asia, coming from its highest level in four months in the previous trade session as investors await key U.S. economic data due later in the day. Gold futures slipped 0.04% to $1,900.50 by 1:35 AM ET. The greenback, which usually moves inversely to gold, gained on Thursday and the […]

Wall St. opens strong in light of high oil prices lifting energy stocks

Monday saw the Wall Street’s main indexes open higher with high oil prices lifting energy stocks. Meanwhile, investors are set to receive key inflation readings within the week. Chevron Corp, Occidental Petroleum Corp, and Schlumberger, each saw a rise between 0.7% and 1.1% in premarket trading as oil prices solidified into more than $1 per […]

Gold hovers near 4-month high as bullish trend hints emerge

Gold hovered near its four-month high on Monday trade in Asia as bullish trend hints surface. Gold futures gained 0.39% to $1,884.05, after hitting $1.890.13, their highest level since Jan. 8, during the previous week. The dollar, which usually moves inversely to gold, was also unusually up with gold on Monday, albeit staying near its […]

Asian shares cautious ahead of U.S. inflation reading

Asian share markets started cautiously during their Monday trade. This came after investors waited for U.S. inflation figures due this week, which will then determine the Federal Reserve’s next stance for its monetary and policy rates. MSCI’s broadest index of Asia-Pacific shares outside Japan made minimal movements, while Japan’s benchmark index Nikkei gained 0.1%. South […]

Supply constraints might restrict Germany’s economic recovery

Supply bottlenecks in the supply of raw materials could possibly cap Germany’s economic recovery from the coronavirus crisis. The prediction remained probable as two-thirds of the country’s overall sectors reported limitations, private data showed. 40% of industry groups reported severe short-term supply bottlenecks, a report from the German Economic Institute revealed. The country’s car, plastics, […]

AT&T to form standalone media business

AT&T is set to build its own global entertainment and media business, combining its content from HBO, Warner Bros studios, and Discovery. David Zaslav, Chief Executive of Discovery will spearhead the proposed new business, which will comprise one of Hollywood’s most powerful studios, including the Harry Potter and Batman franchises, news network CNN, sports programming […]

Gold Hits Three-and-a-Half Month High Over softer Dollar, Inflation Concerns

Gold shone on Tuesday trade in Asia as the dollar softened and rising inflation continued to press worries on investors. Gold futures gained 0.02% to $1,868.05. This was the yellow metal’s highest level in more than three months (since February 1, 2021). The dollar, which usually moves inversely to gold, fell near multi-month lows. Investors […]

Japan’s economy falls sharply on coronavirus-ravaged consumption

Japan’s economy plunged more than what was expected in the first quarter, bringing in concerns for its major trading partners’ economic emergence. This could be attributed to surging coronavirus infections and dwindling vaccinations that heavily damaged the country’s consumption. The world’s third-largest economy recorded a 5.1% annualized drop from January to March. This came larger […]

British firms ramp up search for new staff but foreign workers missing – survey

Businesses in the United Kingdom boosted their search for new workers as pubs, restaurants and other hospitality and travel firms reopen on Monday. Adzuna’s survey revealed on Monday that the lack of foreign workers is aggravating a shortage of applicants, with over 10 jobs on offer for every job-seeker in some cities. Job posting on […]

China’s industrial output decelerates, retail sales place below expectations

China saw a deceleration in its industrial output in April. Meanwhile, retail sales came lower than what was expected by analysts, underscoring more pressures that might cap consumption’s momentum towards recovery.  The country’s industrial production recorded a 9.8% year-on-year increase in April, data from the National Bureau of Statistics showed on Monday. The figure placed […]

Mixed China data leave Asian shares stagnant

China’s lower-than-expected retail sales and strong industrial output drove Asian share markets flatly. Meanwhile, more evidence of global inflation pressures sent gold to a three-month high. MSCI’s broadest index of Asia-Pacific shares outside Japan erased 0.2% gains, deviating far from its four-month high seen last week. Japan’s Nikkei plunged 0.7% to reach its lowest level […]

U.K. economy posts stronger-than-expected growth in March, gears up for recovery

Official data released by the Office for National Statistics on Wednesday showed Britain’s economy surpassing the growth forecast as it posted a 2.1% expansion in March. The retail sector led the growth, along with the construction sector, and the reopening of schools in the U.K. In the first quarter of 2021, when the U.K. was […]

Commerzbank posts better-than-expected Q1 profit, upgrades revenue outlook

Commerzbank upgraded its revenue outlook for the entire year as it posted a higher-than-expected first-quarter profit. This was after the German lender slashed jobs and decreased its operations. Commerzbank posted on Wednesday a net profit of 133 million euros in the first three months of the year, compared to a loss of 291 million euros […]

Asian shares reach low grounds on inflation-driven selloff

Asian share markets recorded two consecutive sessions of losses to reach one-month lows on Wednesday. The drop came after an increase in commodity prices and growing inflationary pressure fueled the prospect of rate hikes and surging bond yields. MSCI’s broadest index of Asia-Pacific shares outside Japan plunged 0.5%. The index dropped lower after a 1.6% […]

Ether breaches $4,000 level, other cryptos steady

Ether reached greater heights on Monday after breaching the $4,000 level. Ether’s new record high today is the crypto’s new peak for the third time in a row. The surge is riding on growing optimism that Ether and other cryptocurrencies will be used on a wider scale. On the Binance exchange, Ether was last up […]

Copper sees historic peak on demand hopes, tighter supply

Copper prices reached an all-time high record in both London and Shanghai markets on Monday. The jump came after investors’ enthusiasm was fueled by improving demand amid tightening supply. Three-month copper on the London Metal Exchange advanced to a record peak of $10,660.50 per tonne during its early session. It then eased to $10,657 per […]

Global shares advance on U.S. jobs data

Global share markets were on course for their first gain in three weeks amid a surge in commodity prices. Investors’ enthusiasm was mainly from a key U.S. labor report, which will then provide hints on when the Federal Reserve will ease its monetary stimulus. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.4% […]

European stock futures mixed

The persisting concern of rising coronavirus cases in India and optimism for global growth as major economies reopen resulted in a mixed trading performance among European stock markets. Germany’s DAX futures contract lowered 0.2%. CAC 40 futures in France also dropped 0.2%. On the bright side, the FTSE 100 futures contract in the U.K. improved […]

Gold shines over downbeat dollar

Gold shone on Monday in Asian trade as the dollar had a silent day for the first trading session of the month while investors await more U.S. economic data this week. Gold futures edged up 0.36% to $1,774. The greenback, moving inversely proportional to the yellow metal, had silent gains on Monday. U.S. consumer spending […]

Dollar steadies as traders await U.S. data for policy hints

The dollar held onto a recent bounce on Monday as investors started the week cautious, awaiting central bank meetings and U.S. economic data to look for hints at global inflation and policy shifts. The dollar index traded at 91.242. It fell 2% in April on upbeat global recovery prospects, which lifted trade-exposed currencies. The dollar […]

Oil falls as India COVID-19 crisis takes toll on fuel sales

Oil prices dropped on Monday as a worsening second COVID-19 wave in India cut off oil demand recovery in the country. This offset optimism about a strong demand rebound in developed countries in the second half of 2021.  Brent crude futures for July contract lost 0.2%, or 15 cents, at $66.61 per barrel. U.S. West […]

European stock futures go down; French Q1 GDP up

European stock markets slightly edged down on Friday as investors digest discouraging Chinese growth data and ahead of key economic data figures and first-quarter earnings season. Germany’s DAX futures contract was 0.1% lower on early Friday trade. The U.K.’s FTSE 100 futures inched down 0.2%. The CAC 40 futures in France were unchanged. The European […]

Dollar drops on bets U.S. tapering remains distant

The dollar fell on Monday amid speculation that Fed Chairman Jerome Powell will shun talk of tapering bond purchases at a policy meeting later this week.  The euro climbed to a near two-month high against the dollar ahead of the release of German business sentiment data, which is expected to boost the economic outlook for […]

Asian shares jump on strong China rally

Asian share markets recorded an upbeat performance on Monday. The jump followed after China shares tallied a three-week high record, with positive economic signs fuelling investors’ sentiment. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.3% to reach its strongest level since March 18. The index continued its upswing after performing strongly for two […]

Dollar falls into narrow range ahead of Fed meeting

The dollar fell in Asian trade on Monday, stuck in a narrow trading range as traders await a U.S. Federal Reserve meeting next week. The dollar index fell 0.17% to 91.170. Against the Japanese yen, the dollar fell 0.06% to 107.90. The Chinese yuan gained 0.07% to 6.4958, while the pound was up 0.19% to […]

UK retail sales rise before lockdown easing

Retail sales in Britain soared in March as consumers prepared for a partial lifting of virus-related restrictions, based on the official data which also reflected record peacetime government borrowing. A 5.4% increase in sales volume in March from February was reflected in the official data released by the Office for National Statistics. Clothing stores led […]

Global economy to expand; job growth to struggle

The global economy is expected to emerge from the coronavirus drag this year, accelerating at a pace last seen in the 1970s as most major economies stage a strong rebound. After the global economy suffered from its sharpest recession, analysts predicted that it will expand 5.9% this year. The forecast came larger than the 5.3% […]

Asian shares track global equity rally

Asian share markets were seen upbeat on Thursday, advancing further in global markets after a strong selloff earlier this week. Meanwhile, oil prices withdrew from high grounds as an increase in coronavirus infections in some parts of the world dampened investors’ enthusiasm. MSCI’s broadest index of Asia-Pacific shares jumped 0.4%, salvaging a 0.9% decline seen […]

Australia retail sales expand in March

Retail sales in Australia breached forecasts in March. The expansion came after an increase in housing prices heavily supported consumer confidence. More so, the reopening of state borders enabled cashed-up households to engage in travel activities again. On a monthly basis, retail sales recorded 1.4% in March. The figure from the Australian Bureau of Statistics […]

Oil prices climb on weaker dollar, U.S. stocks drawdown

Oil prices climbed on Tuesday as a weaker dollar boosted commodities and on hopes that U.S. crude stockpiles dropped, but a surge in COVID-19 cases in Asia capped gains. U.S. West Texas Intermediate crude futures for May, which expires on Tuesday gained 0.8%, or 53 cents, at $63/91 per barrel. The more active June contract […]

China, U.S. figures underpin global shares

Global share markets placed below their historic peaks on Friday. This followed after economic figures from the United States and China boosted investors’ optimism for a brisk economic rebound. Financial markets in Asia performed steadily after China released its first-quarter gross domestic product. While the country’s reading failed to breach expectations, its retail sales still […]

Bank of Korea keeps rate steady as resurging virus cases threaten recovery

In an effort to sustain its economic recovery from the pandemic amid resurging coronavirus cases, the Bank of Korea maintained its current record-low interest rate. The Bank of Korea held on to its 0.5% seven-day repurchase rate on Thursday, a move that was anticipated by many analysts. South Korea’s economic outlook as of now remains […]

European stocks rise as positive corporate earnings show up

Positive corporate earnings ruled in the markets on Thursday, pushing European stocks higher. Germany’s DAX inched up 0.4%. The FTSE 100 in the UK and the CAC 40 in France improved 0.4% and 0.2%, respectively. European stocks were riding on the surging global shares in recent weeks brought about by the hopes that successful vaccination […]

World stocks post highest levels amid easing bond yields

Global stock markets reached their highest levels on Wednesday as released data weakened U.S. inflation concerns resulting in easing bond yields. Majority of Asia-Pacific indexes tallied new record highs, with Hong Kong’s Hang Seng index as the leading gainer in the region with a 1.4 increase. MSCI’s broadest index of Asia-Pacific shares outside Japan improved […]

Chinese exports, imports buoyant in March, analysts say

Improved global demand and a good base effect are likely to have kept Chinese exports buoyant in March, while higher oil prices will have lifted its imports, according to an analyst poll.  Chinese trade surplus is expected to be at $52.05 billion in March, following a surplus of $103.25 billion in the first two months […]

European stock futures mixed as Germany posts mixed data

Friday’s trade session saw mixed European stock markets as Germany posted mixed economic data and more signs of a global economic recovery. Dragging other assets down is the region’s slow inoculation programs. Germany’s DAX futures contract inched down 0.2%. On the winning side, the FTSE 100 futures contract in the U.K. and the CAC 40 […]

Global stocks hover near peaks on dwindling U.S. inflation fears

Global share markets placed near their record peaks on Friday as receding inflation concerns in the United States fueled investors’ enthusiasm. This, in turn, heavily dragged bond yields and sent Wall Street to high grounds. MSCI’s broadest index of global stocks tallied a record peak during its early Asian session. Shares across Asia were seen […]

Gold dips as global economic recovery hopes grow

Wednesday’s trade session in Asia saw gold prices plunge as encouraging data boosted optimism for a faster global economic recovery from the pandemic. Gold futures lost 0.20% to $1,739.45 despite US Treasury yields setback and the greenback falling to a two-week low. JOLTs job openings in the U.S. reported a two-year high of 7.367 million […]

Dollar at multi-week lows as U.S. yields fall on reduced Fed tightening bets

The dollar eased to a two-week low against its peers on Wednesday after U.S. bond yields dropped as traders took back hopes that the U.S. Federal Reserve will tighten its policy earlier than planned.  The dollar index dropped to a two-week low of 92.246, sliding further from a five-month high of 93.439 hit on March […]

Asian shares reach high grounds on vaccine hopes

An index of Asian shares tallied a three-week peak on Wednesday as investors eyed the upcoming earnings season for additional signs of a global economic rebound. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.3%, marking its second consecutive day of gains. Japan’s benchmark Nikkei traded higher, while Australian shares recorded a 0.6% increase. […]

Oil climbs on hopes OPEC+ will maintain supply cuts

Oil prices climbed on Wednesday, paring losses sustained overnight ahead of an OPEC+meeting, with traders betting that producers will extend their supply curbs into May.  Brent crude futures gained 0.2%, or 15 cents, at $64.29 per barrel after sliding 1.3% on Tuesday. U.S. West Texas Intermediate crude futures rose 0.3%, or 15 cents, at$60.70 per […]

Oil prices fall as investors switch focus from Suez Canal blockage to OPEC+ meeting

Oil prices dropped on Tuesday as shipping traffic resumed in the Suez Canal after days of blockage. The market turned its focus on an upcoming OPEC+ meeting this week where producers are expected to discuss extending supply curbs amid fresh coronavirus lockdowns. Brent crude fell 0.2%, or 15 cents, at $64.83 per barrel following a […]

European stock futures rise despite persistent pandemic recovery doubts

European stock markets were on an upbeat performance on Friday, boosted by Wall Street’s late gains overnight. However, pandemic recovery doubts still lurk in the markets as the third wave of coronavirus cases hit the European region and concerns over slow vaccine rollouts. Germany’s DAX futures contract was up 0.1%. France’s CAC 40 futures improved […]

U.S. equities, vaccine hopes send Asian shares up

Asian share markets had seen an upbeat trading session on Friday. Gains across the region were mainly from a jump in U.S. equities as bright economic expectations, coronavirus vaccine rollouts, and inflation heavily supported investors’ enthusiasm. During Asia’s early trade, futures for Australia’s S&P/ASX 200 tallied a 0.30% increase. MSCI’s index across the globe traded […]

Coronavirus pandemic drags Uruguay’s economy in 2020

Uruguay’s economy had recorded a 5.9% contraction last year as it grappled with the coronavirus drag, the country’s central bank said on Wednesday.   In the fourth quarter of 2020, gross domestic product (GDP) declined 2.9%. This was brought about by the government’s implementation of health protocols and virus restrictions in a bid to combat […]

Dollar boosted by safe-haven demand as fears over European lockdowns, U.S. taxes cap risk sentiment

The safe-haven dollar was on course for a four-month high on Wednesday as worries over a third COVID-19 wave in Europe, possible U.S. tax hikes, and rising tensions between China and the West capped risk appetite. The dollar index climbed to a two-week high of 92.436 in Asian trade. It hovered right below a four-month […]

Japan’s consumer price drop eases on upbeat fuel prices

Japan’s annual consumer price drop eased for two consecutive months ended February. This followed after an increase in fuel prices minimized some contraction pressures brought about by the coronavirus-driven decline in household spending. The country’s core consumer prices recorded an annualized 0.4% contraction in February, government data showed on Thursday. The figure came parallel with […]

UN body improves global economic growth forecast to 4.7%

The United Nations Conference on Trade and Development (UNCTD) report released on Thursday noted an improved global economic growth forecast to 4.7% from the previous 4.35%. The report also highlighted a stronger-than-expected economic growth in the United States. According to the UNCTD report, U.S. consumer spending was anticipated to be bolstered by developing COVID-19 inoculation […]

Dollar firms as traders look to Fed for guidance

The dollar firmed against major peers on Wednesday as investors looked to the U.S. Federal Reserve’s policy meeting for hints on rate hikes and rising bond yields. The dollar strengthened by 0.1% to 109.085 against the yen, lingering near nine-month highs reached this week. The euro was flat against the dollar after dropping in the […]

Moderna rises 2.3% as firm starts COVID-19 vaccine trial in kids

Shares of Moderna went up 2.3% on Tuesday after the vaccine producer reported it had started its VOCID-19 vaccine trial in children aged between six months and 12 years old. The vaccine trial will be highly indicative of the efficacy of Moderna’s developed COVId-19 immunization for kids. The vaccine, named mRNA-1273, will be given in […]

Dollar firms amid U.S. yield surge

The dollar firmed on Monday after recovering from a one-week low last week, boosted by a surge in Treasury yields to more than one-year highs as inflation worries linger. The greenback gained 0.1% to 109.125 against the Japanese yen, while the euro was mostly flat at $1.19485 after climbing last week, its first time in […]

Brent falls, but hovers near $70 on demand optimism support

Brent crude prices fell on Friday but lingered near $70 per barrel as major producers’ output cuts tightened supply. Optimism about demand recovery in the second half of the year also supported prices. Brent crude futures for May contract fell 0.2%, or 17 cents, at $69.46 per barrel, while U.S. West Texas Intermediate crude for […]

Dollar hits one-week lows due to weak inflation data

The dollar fell near one-week lows on Thursday after weak U.S. consumer prices data and a drop in Treasury yields prompted a sell-off in the market.  The dollar index was flat at 91.79 after hitting a one-week low of 91.75 in Asian trade as data showed that U.S. core consumer price growth briefly slowed in […]

Oil falls for third day ahead of U.S. stockpile EIA data

Oil prices dropped for a third consecutive day on Wednesday as traders took profits while awaiting U.S. stockpile data due later in the day for hints on price prospects. Brent crude for May contract fell 0.8%, or 56 cents, at $66.96 per barrel. U.S. West Texas Intermediate crude for April delivery dropped 0.7%, or 45 […]

Adidas sees strong rebound sales for 2021

Germany’s sportswear brand Adidas forecast a strong rebound in 2021 sales, with its Asian and Latin American stores doing the heavy lifting as it braces for costs associated with divesting the Reebok brand. Adidas is set to present its five-year strategy on Wednesday, which includes the sales outlook for 2021. The company’s sales for the […]

Gold weakens over firm dollar

Gold was edged down by strengthening dollar on Wednesday trade in Asia. This as rising U.S. yields supported the greenback rally, shunning investors away from the precious metal. Gold futures slipped 0.31% at $1,711.55, though remaining above the $1,700 mark. The yellow metal’s fall was the rise for dollar on Wednesday as the two assets […]

Asian shares recover from low levels as bonds, China markets steady

Asian share markets recovered from a two-month low on Wednesday. Investors’ upbeat sentiment was mainly from a decline in bond yields, with Chinese shares also performing well after a wild upswing brought about by policy tightening worries. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.4%, recovering from its two-month low record seen the […]

U.S. wholesale inventories climb in January

U.S. wholesale inventories posted upbeat figures in January supported by strengthening demand. This boosts hopes for faster economic growth in the U.S. Data released by the Commerce Department showed a 1.3% increase in wholesale inventories. Stocks at wholesalers improved 0.6% in December. The component of wholesale inventories that goes into the calculation of gross domestic […]

Dollar hits multi-month highs against peers over yields, recovery expectations

The dollar traded near a 3 ½-month high against its peers on Tuesday as higher bond yields and hopes for faster U.S. economic recovery boosted the greenback. The dollar index gained 0.1% to 92.469, its strongest since November, building on a 0.5% rise on Monday. Against the yen, the dollar climbed to 109.235, its strongest […]

U.S., UK suspend tariffs, pledge to solve aircraft subsidy dispute

The United States concurred with the four-month suspension of its retaliatory tariffs imposed on some British products including Scotch whisky over a long-standing aircraft subsidy dispute. Both parties vowed to use the time to solve the issue. The Trump administration had imposed tariffs on various European Union food, wine, and spirits, including on Scotch whisky. […]

Hyundai slashes Q4 sales projection after electric car recall

After a massive global recall of electric vehicles, Hyundai Motor Co was left with no choice but to trim down its fourth-quarter sales projection. But reports said LG Chem Ltd would shoulder the bulk of the expenditures. Hyundai reported on Thursday it was slashing its fourth-quarter operating profit by 300 billion won ($265 million) or […]

Yen hits low ground; Asian shares drop on surging bond yields

The Japanese yen recorded a seven-month low against the dollar on Thursday. This came after investors’ vaccine-, and stimulus-driven sentiment greatly supported the greenback and benchmark Treasury yields. The dollar performed positively, with its index hitting a 0.28% increase. In turn, the yen reached a low record of 107. 06. The decline came to be […]

Oil rebounds as U.S. House passes massive coronavirus bill

Oil prices recovered over $1 on Monday after the U.S. House of Representatives passed a massive economic package, but a decline in Chinese factory activity growth in February capped gains. Brent crude futures for May contract were up 1.7%, or $1.07, at $65.49 per barrel. The April contract expired on Friday.  U.S. West Texas Intermediate […]

China’s factory activity growth dwindles: Caixin PMI

February had seen China’s factory activity growing at the slowest pace in nine months. The restricted expansion was mainly from the country’s subdued output as the manufacturing sector struggles with weak overseas demand and surging coronavirus cases.   The Caixin/Markit Manufacturing Purchasing Managers’ index (PMI) was read at 50.9 last month. The figure came to […]

Japan posts upbeat factory output in January; retail sales plunge

January had seen Japan’s industrial output advance for the first time in three months. The expansion was mainly from an increase in global demand, indicating that the country’s economy has established a slight rebound from the coronavirus pandemic. Official data released on Friday showed that Japan’s factory output expanded 4.2% in January. The record was […]

Asian shares perform turbulently on pressing bond rout

Asian share markets had recorded a subdued performance, hitting a one-month low on Friday. This could be attributed to a decline in global bond markets, greatly affecting yields. In addition to this, investors’ sentiment was hurt by the prospect of distressed selling as heavy losses mounted. MSCI’s broadest index of Asia-Pacific shares outside Japan plunged […]

Upbeat exports, solid construction activity lift German economy in Q4

Germany bounced back better than expected in the fourth quarter of 2020, as the Federal Statistics Office on Wednesday showed a 0.3% economic growth amid the coronavirus pandemic. After the country surpassed the 0.1% growth estimate, the Federal Statistics Office moved up its 2020 full-year GDP estimate to -4.9% from -5.0%. Europe’s biggest economy contracted […]

Benchmark yield plunges on Fed’s dovish tone

The benchmark 10-year U.S. Treasury yield was seen subdued on Tuesday. This came after Federal Reserve Chairman Jerome Powell said that the economy of the United States still needed support from the central bank. The 10-year note dropped 1.4 basis point, hitting a 1.3551% record during its afternoon trading. Prior to that, it touched a […]

Asian shares see turbulent start on inflation concerns

Asian share markets started their Wednesday session turbulently. The series of declines, which came after a wild fluctuation in U.S. and European overnight trading, could be attributed to surging interest rates and rich equity valuations.  Asia’s early performance sent Australia’s S&P/ASX 200 0.5% lower. South Korea’s KOSPI declined 0.4%, while Japan’s Nikkei recorded a 0.9% […]

HSBC resets dividends target, uncorks revised strategy focused on wealth management in Asia

HSBC Holding PLC reported on Tuesday it scrapped its long-term probability target and introduced a revised strategy focusing on wealth management in Asia, following a whopping 34% decline in the bank’s annual profits due to the pandemic crisis. HSBC’s long-term probability target of having 10 to 12% returns on tangible equity is replaced with a […]

Bitcoin falls below $50,000

Despite the weakening dollar, Bitcoin fell below $50,000 on Tuesday as investors started to fear the rising valuation of the cryptocurrency. Bitcoin declined more than 10% on Tuesday trade, suffering from its biggest daily drop in a month after closing at $48,575.The cryptocurrency’s losses mounted to 16% from its highest level reached on Sunday. However, […]

SoKor posts strong exports from Feb. 1 to 20

South Korea recorded a 16.7% annualized increase in exports from February 1 to 20, data from customs agency showed on Monday. The expansion, which indicates a trade-driven rebound, came faster than the 10.5% jump monitored during the first 20 days of January. Exports’ growth could partly be attributed to an increase in major trading items, […]

Dollar falls after employment data sours recovery hopes

The dollar paused on Friday following its largest loss in ten days as disappointing U.S. employment data weighed on hopes for a speedy U.S. pandemic recovery. The greenback continues its role as a safe haven, falling alongside U.S. stocks overnight as an unexpected increase in unemployment claims bruises the economic outlook.  The dollar index traded […]

Asian shares ease on upbeat bond yields, subdued U.S. figures

Asian share markets retreated from their all-time record peaks on Friday. The series of declines followed after longer-dated bond yields advanced and U.S. economic figures plunged, greatly dragging investors’ hopes for a rapid economic rebound from the coronavirus crisis. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.1% lower, easing from its 745.89 record […]

Dollar boosted by hopes for U.S. pandemic recovery

The dollar held its ground on Thursday following back-to-back gains in two weeks as upbeat data lifted hopes for a faster U.S. pandemic recovery relative to its peers. Investors expect a bigger boost from Biden’s planned $1.9 trillion coronavirus stimulus aid, with the president meeting with top labor leaders to ramp up support. The dollar […]

Gold bounces back, but hover near two-month lows over rising dollar, economic recovery optimism

After a five-day slump, gold goes back to the winning track on Thursday in Asia, but its closing price just hovered near to its lowest level in over two months. The modest bounce-back was due to the strengthening dollar and growing optimism for a global economic recovery from the pandemic holding off demand for the […]

Dollar hits multi-month high against yen as U.S. yields climb on inflation bets

The dollar rose on Wednesday, reaching a four-month high against the Japanese yen as U.S. bond yields rose amid hopes for economic recovery and faster inflation.  The dollar index bounced to 90.681, back from a three-week low of 90.117 hit on Tuesday. A rise in U.S. bond yields also supported the dollar, with the 10-year […]

Japan sees upbeat exports, machine orders on recovering global demand

An expansion monitored in Chinese demand and manufacturers’ enthusiastic mood boosted Japan’s exports in January. The growth heavily indicates that exports are now on their way to recovery after suffering from the coronavirus drag last year. Data from the Ministry of Finance showed that the country’s exports recorded an annualized 6.4% increase in January. While […]

Asian shares’ upbeat performance supports global bull run

Asian share markets were seen upbeat on Tuesday. The series of gains had sent global equities up to secure their 12th session of earnings. The strong upswing followed after investors’ sentiment was fueled by coronavirus vaccines, with rollouts expected to stage a brisk economic recovery. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.62% […]

Brexit effects supply woes for small UK manufacturers: Survey

More than half of about 300 small British manufacturers surveyed in January lamented over the price hikes and disruption woes in the supply chain caused by the new customs checks set in place as part of the post-Brexit trade restrictions. In the survey conducted by the South West Manufacturing Advisory Service (SWMAS) in January that […]

Dollar on course for weekly loss on weak U.S. jobs data

The dollar was on course for its first losing week after two weeks of gains as weak U.S. jobs data dented investor’s hopes for a quicker pandemic recovery. The dollar was on the defensive on Friday, hovering near two-week lows due to weaker-than-expected U.S. unemployment claims. It added to worries that the dollar’s previous rally […]

Oil climbs on U.S. crude stocks drawdown

Oil prices climbed in Asian trade on Wednesday after reaching their highest levels in nearly a year in the last session. Prices were boosted by a surprise decline in U.S. crude stocks and an OPEC+ estimate of a global oil market deficit this year.  U.S. West Texas Intermediate crude futures rose 0.4%, or 24 cents, […]

Global shares see vaccine-, stimulus-driven gains

Asian share markets and U.S. stock futures performed positively on Wednesday. The series of gains followed after coronavirus vaccine programs accelerated, and governments across the globe planned on ramping up spending in a bid to salvage their virus-battered economies. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.51% increase, while Australian shares jumped […]

GameStop shares plunge, sliver spree halted as retail investors reach impact limit

GameStop shares plummeted on Tuesday and a silver buying spree led by small investors was halted as retail-driven mania showed signs of easing off. GameStop shares in Frankfurt tumbled 30% from Monday’s close at 143 euros ($172.72) in early trade on Tuesday, following a $225 level in U.S. markets. It dropped 23% to $173 in […]

Dollar sits near seven-week peak, boosted by euro selloff

The dollar sat near a seven-week high on Tuesday, supported by an overnight euro selloff after COVID-19 restrictions hit consumer spending in Europe. The euro fell the most in 2 ½ weeks on Monday after German retail sales dropped more than anticipated in December. The dollar rose even as stocks rallied, defying a recent trend […]

Asian shares rally on outlook-driven sentiment

Asian share markets rallied on Thursday. The series of gains could be attributed to investors’ enthusiasm over stimulus packages and global economic recovery, with much of their focus now deviated from GameStop and silver. MSCI’s broadest index of Asia-Pacific shares outside Japan saw a 1.25% increase during its mid-morning trade. Hong Kong’s Hang Seng index […]

Asian shares recover; short selling presses

Asian share markets made a strong rebound on Friday. However, they are still on course for their biggest decline in months as a liquidity squeeze in China and Wall Street’s short selling dampened investors’ sentiment. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.9% increase. While the index jumped, it is still heading […]

Asian shares ease; Microsoft’s rally boosts tech

Asian share markets recorded a weak performance on Wednesday. Investors’ subdued sentiment could be attributed to the Federal Reserve’s plans regarding its monetary policy. Meanwhile, futures for U.S. tech shares advanced on Microsoft’s hefty gains. MSCI’s broadest index of Asia-Pacific shares outside Japan saw a 0.2% gain, with investors withdrawing from resource shares on stretched […]

Japan’s lower house to pass controversial third extra budget for 2021

The lower house of parliament of Japan is anticipated to pass on Tuesday the proposed third extra budget for this year. This is despite criticisms that the extra budget is focused on government tourism instead of prioritizing the health sector trying to contain the rise in COVID-19 cases. The 19-trillion-yen ($183 billion) extra budget was […]

British retail sales post weak December growth

Britain’s retail sales data released on Friday showed weak growth in December as British retail outlets and shops resumed business operations coming off a four-week lockdown in November to help curb coronavirus spread. Meanwhile, public borrowing this financial year soared, hitting a new record high. Retail sales volumes posted a 0.3% increase in December, missing […]

Dollar falls as hopes for U.S. stimulus boost sentiment

The dollar fell on Wednesday and the euro held on to gains as the sentiment improved amid big spending talk from U.S. Treasury Secretary nominee Janet Yellen. The euro rose from support around $1.2050, gaining nearly 0.4% overnight to hit $1.2145. It held near that level in Asian trade. The risk-sensitive Aussie and kiwi rose […]

China sees upbeat fourth-quarter GDP on sustained recovery

China had seen an economic expansion in the fourth quarter, recording a 6.5% jump from a year earlier, data from the National Bureau of Statistics showed on Monday. The growth in the country’s gross domestic product came faster than the 6.1% forecast predicted by economists in a Reuters survey. More so, the figure placed higher […]

Oil mixed as Chinese virus cases, lockdowns raise demand worries

Oil prices were mixed on Friday as high Chinese import data, which boosted sentiment earlier, met difficulties with several Chinese cities put on lockdowns due to rising coronavirus cases. Brent crude futures lost 3 cents to $56.69 per barrel following a 0.6% gain on Thursday. U.S. West Texas Intermediate crude rose 12 cents to $53.69 […]

Asian shares advance on stimulus-driven sentiment

Asian share markets recorded an upbeat performance on Friday. The series of gains came after investors’ sentiment was fuelled by the prospect of a massive stimulus package under President-elect Joe Biden’s administration. Meanwhile, oil prices advanced as China released strong trade figures. In Asia, Australia’s S&P/ASX 200 traded 0.2% higher, while Japan’s benchmark index recorded […]

Japan machinery orders advance, coronavirus takes toll on outlook

Japan had seen its core machinery orders advance for two consecutive months ended November, data showed on Thursday. However, an increased number of coronavirus cases monitored in Tokyo and 10 other areas might affect business appetite for capital spending. Core orders recorded a 1.5% increase in November month-on-month, completely reversing from a 6.2% drop expected […]

Bonds crash on stimulus-driven hopes

U.S. Treasuries were seen subdued on Thursday. This followed after investors’ sentiment was dampened by a report that President-elect Joe Biden will announce a stimulus package as massive as $2 trillion. Japanese shares, on the other hand, reached a three-decade high in anticipation that the global economy will soon recover. The yield on benchmark 10-year […]

Bank of Canada micro rate cut chances float amid virus restrictions

Financial markets peek on a higher probability of a near-to-zero interest rate cut to be imposed by the Bank of Canada as stiffing economic restrictions continue to overshadow hopes for a rebound in economic activity later this year. After being trimmed by 150 basis points last March, posting its record-low of 0.25%, interest rates set […]

Philippines’ e-wallet Gcash rakes in over $175 million in new capital

Globe Telecom Inc., the largest mobile network operator in the Philippines, said its fintech (financial technology) arm Gcash has successfully acquired more than $175 million in capital from Bow Wave Capital Management, a New York-based private equity fund. With this additional capital acquisition, Gcash’s valuation has also increased, nearing $1 billion, as disclosed by its […]

U.S. holds off French tariff to probe global taxes

The United States declared Thursday its cancelation of tariffs on French cosmetics, handbags, and other imports that it imposed in July last year. The indefinite suspension of French tariffs starting Wednesday would take effect to make room for 10 investigations into similar taxes in India, Italy, Britain, and other countries. The U.S. Trade Representative’s office […]

Dollar nears multi-year lows as Democrats win Senate

The dollar sat near a three-year low on Thursday after Democrats won the U.S. Senate, paving the way for a bigger stimulus package under President-elect Joe Biden. Currency markets barely budged amid the chaos in Washington as supporters of outgoing President Trump swarmed U.S. Capitol. The dollar index climbed 0.1% to 89.444 in Asian trade […]

Asian shares advance as Democrat party secures Senate

Bonds recorded a subdued performance, while Asian share markets advanced on Thursday. This came after investors’ sentiment was fuelled by the prospect of massive borrowing and spending as Democrats secured both houses of the United States Congress. MSCI’s broadest index of Asia-Pacific shares outside Japan placed near a record peak with a 0.5% increase. The […]

Brent climbs to highest since February as Saudi Arabia joins production cut

Brent oil prices climbed on Wednesday to their highest level since February after Saudi Arabia agreed to increase output cuts than initially expected at the organization’s meeting. In the United States, crude inventories dropped last week, according to industry data.  Brent crude futures gained 0.6% to $53.94 per barrel, its highest since end-February of 2020. […]

UK lockdown triggers biggest annual drop in car sales since World War 2

Britain’s new car sales had a nearly 30% drop, its biggest fall since World War Two, as  COVID-19 restrictions forced the sector to cease operations temporarily, the trade industry reported on Wednesday. Initial data from the Society of Motor Manufacturers and Traders (SMMT) revealed that car demand was at 1.63 million cars in 2020. During […]

Global shares plunge on possible Democrat domination in U.S. Senate

Global share markets recorded a subdued performance, while bond yields advanced on Wednesday. This came after investors’ sentiment was affected by the possibility of Democrats dominating the U.S. Senate, raising fears of higher taxes and tighter regulations on big tech firms. MSCI’s broadest index of Asia-Pacific shares outside Japan shed initial gains to trade 0.2% […]

Asian business confidence accelerates, pandemic presses

A Thomson Reuters/INSEAD survey gauged Asian firms’ confidence at its highest level this year in the fourth quarter. The upbeat reading followed after business activity accelerated across the region and as Western countries started their inoculation ahead of Asia. The Thomson Reuters/INSEAD Asian Business Sentiment Index was read at 63, placing higher than the 53 […]

Dollar climbs on rattled markets over virus mutation

The dollar firmed on Tuesday but was well below recent highs as a new coronavirus strain in Britain caused tension in currency markets. The pound and the kiwi both slid 0.5% in Asian trade. The Aussie was down 0.4% and the euro 0.2% to trade at $1.2228. The pound sat at $1.3308, 2 cents higher […]

US Congress scores deal on $900 Billion Pandemic Relief Package

Senate Majority Leader Mitch McConnell, House Speaker Nancy Pelosi, and Senate Democratic leader Chuck Schumer announced on Sunday that the US Congress finally secured a deal on a $900 billion spending package to boost the country’s economy amid the unwavering coronavirus spread. While the legislative text was still being prepared, the Congress was expected to […]

Dollar sinks on stimulus progress, pound boosted by Brexit hopes

The dollar hovered near 2 ½-year lows on Wednesday as progress on a big U.S. government spending bill and COVID-19 relief boosted risk appetite, reducing demand for safe assets. The dollar traded at $1.21630 per euro, close to the 1 ½-year low of $1.2177 hit on Monday. It fell 0.2% to 103.44 against the yen […]

Oil gains on vaccine hopes, tanker blast in Saudi Arabia

Oil prices climbed on Monday with the Brent surpassing the $50 level, lifted by hopes that a COVID-19 vaccine rollout will boost global fuel demand. Still, a tanker blast in Saudi Arabia unnerved the market. Brent oil futures for February delivery gained 0.8%, or 38 cents, at $50.35 per barrel. U.S. West Texas Intermediate oil […]

Bank of England eases restrictions on bank dividends and bonuses

The Bank of England announced on Thursday it can resume paying dividends and bonuses, lifting its COVID-19 curb on these payouts imposed earlier this year.  The move is seen as a good sign that the bank is well-capitalized anew, displaying resiliency to any further backlash from the coronavirus pandemic. Earlier in March, the BoE ordered […]

Japan’s wholesale prices contract, auto demand brings optimism

Japan’s wholesale prices recorded a 2.2% decline in November year-on-year. The drop came to be the sharpest decline in six months, indicating that the coronavirus drag is still in the air and is restraining the economy under deflationary pressure. According to data released by the Bank of Japan, the corporate goods price index (CGPI) came […]

Asian shares reach new highs on vaccine hopes

Asian share markets recorded a new milestone peak, while U.S. stock futures performed positively on Wednesday. The series of gains could be attributed to investors’ upbeat sentiment brought by encouraging news about a coronavirus vaccine and efforts to roll out more fiscal stimulus. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.51%, hitting an […]

Pound investors hold out hope for last-ditch post-Brexit trade deal

Investors on the pound clung to hopes for a last-ditch Brexit trade deal in the meeting between EU Commission President Ursula von der Leyen and Britain’s Prime Minister Boris Johnson. The demand for the safe-haven currency boosted the dollar as U.S. coronavirus cases rose.  The pound held on to the $1.3353 level in early Asian […]

Dollar hovers near two-and-half year low, investors eye Brexit talks

The dollar was on the defensive on Monday as lower U.S. jobs data strengthened expectations for a new economic package. Investors on the pound eyed trade talks between the European Union and the United Kingdom. The dollar index steadied at 90.726 after sinking to a 2 ½-year low of 90.471 on Friday. The euro bought […]

Oil falls as rising coronavirus cases prompt more restrictions

Oil prices dropped on Monday as rising global coronavirus cases prompted new lockdowns, including South California, the world’s top consumer. Brent oil futures fell 0.4%, or 20 cents, at $49.05 per barrel. U.S. West Texas Intermediate crude futures slid 0.4%, or 20 cents, at $46.06 per barrel. Both contracts rose for a fifth straight week […]

Asian shares reach milestone peak on brighter stimulus hopes

The possibility of a massive stimulus package in the United States had sent Asian share markets up to their record peaks. Meanwhile, optimism that a coronavirus vaccine will greatly support the global economy boosted investors’ confidence. MSCI’s broadest index of Asia-Pacific shares outside Japan had seen a 0.6% increase, placing above its historic jump last […]

Asian shares mixed, U.S. dollar hits low grounds

Asian share markets recorded a mixed session on Thursday, tracking Wall Street’s choppy performance after the United States saw weak employment figures. Meanwhile, the U.S. dollar placed near 2-1/2 year lows on investors’ vaccine-driven optimism. Japan’s benchmark index Nikkei was flat, while South Korea’s KOSPI and Australia’s benchmark index hiked about 0.4%. Chinese shares started […]

S&P 500 reaches new level as investors await fiscal package

The S&P 500 hit new records on Wednesday and the Nasdaq Composite Index dropped as investors considered progressive vaccine developments plus a brewing fiscal stimulus package to address the declining private jobs report. The S&P 500 was up 0.18% at 3,669.01 while the Nasdaq Composite Index dropped 0.05% to 12,349.37, dragged by a 2.7% slide […]

Dollar slips, yuan falls as investors hope for Fed support

The dollar hovered near a 2-½-year low on Wednesday as traders waited for more U.S. stimulus aid, while risk currencies held onto gains as sentiment improved. The dollar index slid to 91.19, near its weakest level since April 2018. The euro and the kiwi steadied after rising overnight. A lower-than-expected U.S. manufacturing activity data and […]

US manufacturing activity softens, COVID-19 resurgence hits workers

US manufacturing activity slowed in November as a resurging coronavirus spread hit the nation, forcing workers to stay at home and shutting down factories temporarily. The Institute for Supply Management’s index of national factory activity fell to a 57.5 reading in November from a 59.3 previous outing, the highest since November 2018. The manufacturing activity […]

Dollar falls in quiet trade, on course for weekly loss

The dollar slips in thin trade on Friday, on course for weekly losses as investors favored risk assets. The improving risk sentiment was the result of upbeat COVID-19 vaccine news and hopes for a smooth Biden transition.  The dollar index lost 0.12% to 91.92 after dropping to a near three-month low of 91.84 overnight. It […]

China’s industrial profits accelerate the most in three years

China’s industrial firms had expanded as their profits accelerated for six consecutive months ended October. This also came to be the fastest pace of growth since 2017, indicating a firm rebound in the manufacturing sector after it was ravaged by the coronavirus crisis. On an annual basis, profits of China’s industrial firms climbed 28.2% to […]

S&P 500, Dow ease from historic highs on weak jobless data

The S&P 500 index had recorded a subdued session on Wednesday. The decline could be attributed to the United States’ ever-increasing unemployment rate amid the reimplementation of new lockdowns in a bid to control the coronavirus crisis. The Dow Jones Industrial Average dropped 0.56%, while the S&P 500 recorded a 0.7% loss. The Nasdaq composite […]

Global shares climb on vaccine progress, Biden presidency

Global share markets reached a milestone peak on Wednesday. The series of increase came after the Dow Jones Industrial Average breached a historic 30,000 jump overnight, with investors’ confidence greatly supported by a dramatically improved global outlook. MSCI’S broadest index of Asia-Pacific shares outside Japan had seen a 0.45% increase. Meanwhile, Japan’s benchmark index Nikkei […]

Euro zone business activity contracts but vaccine hopes keep market optimism afloat

Euro zone business activity fell sharply in November as reinstated virus-related restrictions forced a number of firms in the bloc’s service industry to cease operations temporarily. However, market optimism remains alive and kicking as news of possible vaccines fill the news reports recently – as expressed by economists in a survey. The euro zone economy […]

Asian shares advance on vaccine optimism

Asian shares recorded an upbeat session on Monday, with a broad regional index hitting a milestone peak brought by a breakthrough in the development of coronavirus vaccine. However, the reimplementation of virus-related lockdowns and uncertainty over U.S. stimulus restricted gains. MSCI’s broadest index of Asia-Pacific shares outside Japan had seen a 0.56% increase, surpassing its […]

Oil drops as rise in U.S. crude stockpiles offset worries for supply glut

Oil prices slid on Wednesday after a bigger-than-expected rise in U.S crude inventories offset worries for weak fuel demand and a possible supply glut. However, hopes that OPEC+ will maintain its output cuts in January capped losses. Brent crude futures for January contract fell 0.3%, or 14 cents, at $43.61 per barrel, following a 0.2% […]

Yen recovers as winter drags vaccine hopes

The safe-haven Japanese yen recorded a one-week peak, while a strong U.S. dollar rose above commodity currencies on Wednesday. The series of increase came as newly implemented restrictions across the United States and Europe dampened investors’ vaccine-driven sentiment. The yen, currently quoted at 104.04 per dollar, salvaged nearly two-thirds of the losses it made last […]

World shares decline on weak U.S. retail sales

Global share markets recorded a subdued session on Wednesday. This followed after weak retail sales in the United States heightened concerns that surging COVID-19 cases would restrict the global economy from staging a brisk recovery.   In Asia, U.S. S&P futures recorded a 0.3% plunge on Wednesday. This came after the S&P 500 declined 0.48% […]

Chinese fourth-quarter economic growth will accelerate, says bureau spokesman

China’s fourth-quarter economic growth will rise from the third quarter, according to the spokesman of the National Statistics Bureau, Fu Linghui. In a press conference on Monday, Fu said that consumption prospects are improving and the services industry is showing signs of good recovery momentum. Data on Monday also showed that Chinese industrial production rose […]

Dollar falls, pound rises as traders focus on Brexit talks

The dollar fell against its peers on Monday, while the euro and the pound rose on signs that Britain and the EU could make progress in the trade talks. The dollar index slid to 92.565 in Asian trade. The British pound climbed to 1.3226 against the dollar and stood at 89.61 pence per euro. Against […]

Lockdown measures drag German economy in November: ministry

While Germany’s economy sustained its momentum until October, it was seen expanding at a slower pace since August, the Economy Ministry said on Friday. In addition to this, the ministry emphasized that virus-related lockdown measures greatly affected the economy in November. Despite the economy’s weak growth, the ministry believed that its expansion would not stop […]

Wall Street plunges as virus concerns reemerge

Wall Street had seen a dampened performance on Thursday. This could be attributed to an increase in coronavirus infections in the United States, with investors adjusting their confidence in line with the expected rollout of a vaccine. Unofficial records showed that all of Wall Street’s major indexes plunged. The Dow Jones dropped 1.08%, while the […]

Asian shares decline on surging COVID-19 cases

Asian share markets recorded a subdued session on Friday. This followed after surging coronavirus cases triggered a series of selloffs in the United States and Europe, with investors fearing that the virus might bring in more economic ramification. MSCI’s broadest index of Asia-Pacific shares outside Japan was dragged by weak shares across the region, tallying […]

Dollar maintains momentum on vaccine hopes

The dollar recorded an upbeat performance on Thursday. This was mainly from investors’ move of adjusting their expectations about a coronavirus vaccine. While the recent breakthrough capped the performance of risk assets, it maintained enough confidence to support the greenback against safe havens. The dollar index placed just below a one-week peak reached overnight. Against […]

Novo Nordisk acquires Emisphere Technologies in a deal worth $1.8 billion

On Friday, Novo Nordisk (NVO) reported that it had agreed to a $1.8 billion acquisition deal of Emisphere Technologies (EMIS). The Danish multinational pharmaceutical company said that it aims to broaden its market sales by using pill technology.  “We have been making injection drugs for a hundred years, but we just have to admit that […]

1Malaysia Development Berhad still in debt worth $7.8 billion after five years

The 1Malaysia Development Berhad (1MDB) reported that it still had an estimated 32.3 billion Ringgit ($7.80 billion) in outstanding debt as of September 2020. In 2015, Malaysia’s former Prime Minister Najib Razak was accused of getting 2.67 billion cash from 1MDB to transfer the funds in his personal bank accounts. The former prime minister was […]

China’s Central Bank: Ant Group’s IPO suspension is to protect the interest of consumers and investors

A senior central bank official stated on Friday that China’s decision to halt Ant Group’s planned initial public offering (IPO) was based on careful consideration of safeguarding the interests of financial consumers and investors. The financial services company said that it hoped to raise $37 billion from the market by launching the world’s largest IPO, […]

Lufthansa needs more cash fund due to restructuring costs in the fourth quarter

On Thursday, Lufthansa (LHAG.DE) announced that it would need more cash funds in the fourth quarter due to further restructuring measures as the airline company struggles to cope with the coronavirus crisis’s effects. Germany’s flagship airline reported a net loss worth 2 billion Euros ($2.4 billion) in the third quarter, compared to its net revenue […]

U.S. factory orders rise by 1.1% amid the coronavirus outbreak

On Tuesday, the United States Commerce Department announced that factory orders climbed by 1.1% after it went up by 0.6% three months ago. The government agency said that factory orders went up in light of increased demand for primary metals, computers, and electronic products as well as motor vehicles and fabricated metal products. However, factory […]

U.S. cruise industry to extend the suspension of operations until the end of the year

On Tuesday, the United States cruise industry announced that it would extend U.S. cruise operations’ suspension until December 31. The Cruise Lines International Association (CLIA) stated that its members would utilize the remainder of the year to prepare for the implementation of various safety measures due to the coronavirus pandemic. The organization represents 95% of […]

Western Union expects a better 2021 after the coronavirus outbreak

Western Union Co (WU.N) reported that it expects an improved outlook next year as people adjust to the coronavirus crisis while expectations for an additional U.S. government stimulus package could help the country’s economy. “Generally, I would expect a better 2021 than we saw this year. At least here in the U.S., we should get […]

Thomson Reuter’s net profit rise during the third quarter

On Tuesday, Thomson Reuters Corp (TRI.TOTRI.N) posted its third-quarter net profit. The media company said that its revenue rose by 2% to $1.44 billion while its operating profit climbed by 21% to $318 Million. “I’m very pleased to report our markets and businesses continue to prove resilient in the face of a challenging broader macro-environment,” […]

Monte dei Paschi’s CEO asks 2 billion worth of funds to prevent breaching the firm’s capital requirements

On Monday, Banca Monte dei Paschi di Siena’s (BMPS.MI) Chief Executive Officer Guido Bastianini announced that the Italian bank needs 1.5 to 2.0 billion Euros ($1.7 to $2.3 billion) in cash to prevent breaching the firm’s capital requirements in the first quarter of 2021. In 2017, the commercial banking company received a rescue deal from […]

Chinese government halts Ant Group’s $37 billion stock market listing

On Tuesday, the Chinese government halted Ant Group Co’s $37 billion stock market listing due on Thursday. The financial technology company said that its shares sale would be the world’s largest Initial Public Offering (IPO). “Innovation and entrepreneurship should be encouraged, but at the same time, we need to strengthen supervision and include all financial […]

Activision expects higher sales forecast amid the lockdown period

On Thursday, Activision Blizzard Inc (ATVI.O) posted its annual adjusted sales forecast. The American video game publisher stated that it would gain strong sales for its upcoming videogame in the blockbuster “Call of Duty” franchise as demand from stay-at-home gamers continues to grow. According to NPD Group’s research, Activision gained $34 billion in videogame sales […]

Apple’s iPhone sales decline in the fourth quarter

On Thursday, Apple Inc (AAPL.O) reported its most significant quarterly drop in iPhone sales in two years. The American multinational technology company said that most of its consumers decided to put off buying new devices amid the coronavirus crisis. Apple’s shares went down by 5% in the afternoon trade, wiping $100 billion from its stock […]

Delta Airlines to reach a preliminary cost-cutting deal to prevent furloughs

On Thursday, Delta Air Lines Inc (DAL.N) and its pilot union announced that the airline had reached a preliminary cost-cutting deal that would prevent temporary layoffs until the next two years. Air Line Pilots Association’s unit Delta MEC stated that the agreement still needs approval from its 13,000 pilots. According to the union, the agreement […]

Airbus expects to reach its cash goal for the fourth-quarter earnings

On Thursday, Airbus (AIR.PA) announced that it expects to reach its target cash goal in the fourth quarter. The European multinational aerospace corporation said that it aims to give its investors a first glimpse of its future performance since the start of the coronavirus pandemic. Airbus added that the firm’s cash spending was halted during […]

Qatar to purchase Moderna’s potential coronavirus vaccine

On Sunday, Qatar reported that it signed an agreement with Moderna Inc. (MRNA) to purchase its potential COVID-19 vaccine once approved and released for global use. Qatar News Agency reported that there are no internationally approved vaccines yet. However, several vaccines would be in advanced trials including Pfizer Inc. (PFE), Johnson & Johnson (JNJ), and […]

Cenovus Energy acquires Husky Energy in an all-stock deal worth $2.9 billion

On Sunday, Cenovus Energy Inc. (CVE.TO) announced that it agreed to acquire its rival Husky Energy Inc. (HSE.TO) in an all-stock deal worth 3.8 billion CAD ($2.9 billion). The oil and natural gas company said that the move was made to establish Canada’s No. 3 oil and gas producer amid the coronavirus pandemic. “In one […]

Dollar steady as investors await U.S. stimulus, Brexit talks

The dollar steadied against most peers on Friday, but on course for weekly losses as investors await updates on the U.S. stimulus and post-Brexit trade talks.  The dollar index fell 0.03% in European trade, just above Wednesday’s seven-week low. It was down 0.7% for the week. The euro steadied at 1.1818 on the dollar, while […]

Japan’s consumer prices decline further as virus-led deflation lurks

Japan’s core consumer prices had seen two consecutive months of decline ended September. The plunge underscored a coronavirus-led contraction in demand, fuelling deflationary pressure in the world’s third-biggest economy. The country’s core consumer price index (CPI) recorded a 0.3% drop in September from a year ago, government data showed on Friday. However, the figure came […]

Asian shares plunge on stimulus-driven drag

Asian share markets and U.S. Treasury yields recorded weak sessions on Thursday. The series of declines followed after investors’ sentiment was dragged by a ruckus in U.S. stimulus talks and an upsurge of fresh COVID-19 infections across the world. MSCI’s broadest index of Asia-Pacific shares outside Japan had seen a 0.63% loss. Australian shares plunged […]

U.S. economic recovery challenges Fed’s latest scheme

The Federal Reserve’s latest scheme of keeping ultra-low interest rates and increasing tolerance for inflation were put under intensive pressure after the United States’ economy recovered well beyond expectations. The economy of the United States had recorded a “slight to modest” rebound. This followed after consumers bought properties and returned to their spending practices, a […]

Alibaba Group Holdings to acquire Sun Art Retail Group in a deal worth $3.6 billion

On Monday, Alibaba Group Holdings (BABA.N9988.HK) announced that it would invest $3.6 billion to purchase a controlling stake in Sun Art Retail Group Ltd (6808.HK). The e-commerce company said that the move was made to gain further ground in China’s retail market. “As the COVID-19 pandemic is accelerating the digitalisation of consumer lifestyles and enterprise […]

Gold prices slip amid COVID-19 resurgence, U.S. stimulus deadlock

Gold prices fell on Friday amid a spike in COVID-19 cases in Europe and the U.S., and the ongoing stalemate in the U.S. Congress over a COVID-19 package. Gold futures slipped by 0.03%, trading at $1,908.30 per ounce at 12:36 AM ET (4:36 AM GMT), losing gains made earlier. However, losses were limited with the […]

Global shares down amid COVID-19 resurgence, U.S. stimulus deadlock

Global shares slumped earlier on Thursday after the resurgence of COVID-19 cases in Europe and the standstill of a U.S. Treasury decision for a stimulus package before the November 3 presidential elections dampened market sentiment. The MSCI’s broadest index of Asia-Pacific shares outside Japan fell by 0.6%, while Japan’s Nikkei lost 0.5%. European shares along […]

Global regulators to meet next month to ease capital burden on banks

Regulators will meet on November to discuss steps on easing pressure on global banks that hold unnecessarily large levels of capital in every country they operate, the Financial Stability Board (FSB) said on Wednesday. Banks have complained of having to “ring fence” large amounts of capital and liquidity at every foreign branch due to local […]

Dollar holds gains on shaky market sentiment

The dollar held on to gains against most peers on Wednesday as doubts about a COVID-19 vaccine and lack of an agreement on a U.S. stimulus aid urged investors to a safe-haven bid. The euro and the pound are expected to fall as Europe and Britain battle a second wave of the coronavirus, reimposing economic […]

Maersk cuts 2,000 jobs to reduce production costs

On Tuesday, Maersk (MAERSKb.CO) announced its plans to cut 2,000 jobs in order to reduce its production costs. However, the world’s largest container shipping line said that the global travel demand was recovering faster than expected while Maersk lifted its earnings outlook “A.P. Moller – Maersk is on track to deliver a strong Q3 with […]

Walt Disney to reorganize its entertainment sector to boost its streaming services

On Monday, Walt Disney Co (DIS) announced that it would start reorganizing its media and entertainment sector to accelerate the growth of Disney+ and its other streaming services. “Managing content creation distinct from distribution will allow us to be more effective and nimble in making the content consumers want most, delivered in the way they […]

Mallinckrodt files for bankruptcy protection after U.S. opioid lawsuit

Pharmaceutical company Mallinckrodt Plc filed for Chapter 11 bankruptcy protection on Monday after the firm faced lawsuits alleging its involvement in the U.S. opioid epidemic and lost a court battle to avoid paying higher rebates to state Medicaid programs for its top-selling drug. The company listed both assets and liabilities in the range of $1 […]

Asian shares hit two-year peak on upbeat Chinese shares

Chinese shares’ strong performance drove Asian stock markets to a two-year high on Monday. This could be attributed to investors’ upbeat sentiment over a steady recovery in China. However, U.S. stimulus talks kept the dollar firm, while a central bank policy restricted the yuan. MSCI’s broadest index of Asia-Pacific shares outside Japan reached a 2-1/2-year […]

Oil prices slide after week-long gains amid Norwegian strike

Oil prices slid a few cents in early Friday trading after nearly a week of big gains, following a strike in Norway that resulted in a 25% cut in production. Brent crude futures fell 9 cents to $43.25 per barrel after climbing 3% on Thursday. U.S. West Texas Intermediate crude slid 5 cents to $41.14 […]

Costs rise for Norway’s oil and gas projects as COVID-19 hits

Major development of Norway’s offshore oil and gas projects have been obstructed, with rising costs and delayed startups as the COVID-19 pandemic makes its way into the region, the government and oil company Equinor said on Wednesday. Costs of projects soared by 13.2 billion Norwegian Crowns ($1.4 billion) after lockdowns stalled construction sites at several […]

Levi Strauss expands its retail footprint and forecast

On Tuesday, Levi Strauss & Co (LEVI.N) announced its plans to expand its retail footprint and forecast in light of the high demand for its online business sales. “While growth in our direct consumer business will outpace that of our wholesale channel, we continue to see opportunities to reach new consumers with new and expanded […]

Samsung’s revenue to reach 10.5 trillion Won in the third quarter of the year

On Wednesday, Samsung Electronics Co Ltd (005930.KS) stated that it would announce its preliminary operating profit and revenue from July to September 2020 tomorrow. The world’s biggest memory chip supplier said that the company’s profit climbed by 35% to 10.5 trillion Won (£7.04 billion). According to Refinitiv Smart Estimate, its analyst expected a 3% rise […]

Toyota and Panasonic to produce lithium-ion batteries for Japan hybrid cars

On Tuesday, Toyota Motor Corp (TYO:7203)  and Panasonic Corp (TYO: 6752) announced a joint company venture that would produce lithium-ion batteries for hybrid cars at a manufacturing plant located in Western Japan. The firms stated that battery production would start in 2022 to meet the growing demand for electric vehicles (EV). “The production line at […]

Fonterra sells its China dairy farms worth $368M to focus on the domestic market

On Monday, Fonterra (FCG.NZFSF.NZ) reported that it finally agreed to sell its dairy farms located in China for a total of 555 Million NZD ($367.97 Million). It added that it would continue to focus on its domestic market and reduce debt. “For the last eighteen months, we have been reviewing every part of the business […]

Global shares gain on Trump’s improving health

Global stock markets advanced on Monday backed by optimism that President Donald Trump’s health had recuperated, allowing him to be discharged from hospital later on Monday.  This had alleviated global shares from some of the political uncertainty that pressed during the previous session. In Asia, news about Trump’s improving health condition had sent S&P e-mini […]

Asian shares seen cautious, Tokyo hikes after system outage

Asian share markets made minimal changes on Friday. This could be attributed to investors’ subdued sentiment over an impasse in U.S. stimulus talks. Meanwhile, employment figures from the United States are expected to provide a clear economic view amid the coronavirus crisis.   MSCI’s broadest index of Asia-Pacific shares outside Japan was seen 0.11% lower. […]

Goldman Sachs to purchase General Motors’ credit card business worth $2.5 billion

On Thursday, Goldman Sachs Group Inc. (GS) announced that it would purchase General Motors Co’s (GM) credit card business for about $2.5 billion (£1.94 billion). The American multinational investment bank and financial services company said that it would continue to join the growing list of lenders amid the coronavirus pandemic. Goldman Sachs and GM’s credit […]

Oil steadies on hopes for U.S. stimulus agreement

Oil prices were steady in early trade on Thursday after U.S. lawmakers postponed a vote on a $2.2 trillion coronavirus stimulus aid in hopes of reaching a two-way deal, with rising infections weighing on fuel demand. U.S. West Texas Intermediate crude futures slid 1 cent to $40.21 per barrel after gaining 2.4% on Wednesday. Brent […]

H&M to close its 250 shops in 2021 to shift in online selling  

On Thursday, H&M (HM-B) announced its plans to close its 250 shops in 2021 as online shopping demand became very popular amid the coronavirus outbreak. Moreover, the world’s second-biggest fashion retailer reported a smaller than expected drop in its third-quarter profit. “Although the challenges are far from over, we believe that the worst is behind […]

Rolls-Royce plans to raise $6.5 billion to cope with a “worst-case scenario” amid the coronavirus crisis

On Thursday, Rolls-Royce Holdings (RR.L) said that it plans to raise 5 billion Pounds ($6.5 billion) to cope with a “worst-case scenario” as the weak global travel demand affected the company’s cash flow amid the coronavirus pandemic. The British multinational engineering company stated that 2 billion worth of funds came from its shareholders. “This is […]

Shell cuts 9,000 jobs to shift in low-carbon energy transmission as oil demand slumps

On Wednesday, Royal Dutch Shell (RDSA) announced that it plans to cut 9,000 jobs or roughly 10% of its workforce as part of a major corporate overhaul to keep pace with the global transition to clean energy as oil demand slumps amid the coronavirus pandemic. The British-Dutch multinational oil and gas company said that it […]

Toyota says its annual global sales could reach $5.5 Million in five years

On Tuesday, Toyota Motor Corporation (7203.T) reported that its annual global sales could reach $5.5 Million in 2025 due to its top-selling electric car units. The Japanese multinational automotive manufacturer announced its plan to sell electric-powered vehicles worth $5.5 Million by 2030. It includes hybrid and plug-in hybrid vehicles worth $4.5 Million and electric and […]

Global shares dip ahead of U.S. presidential debate, fiscal stimulus decision

European shares fell on Tuesday morning as investors awaited the first U.S. presidential debate as well as the conclusion for a fiscal stimulus package by U.S. Congress. In Europe, the broader Euro STOXX 600 fell 0.4%, erasing gains from an earlier session, with indexes in Frankfurt, Paris, and London falling by 0.4%-0.5% each. U.S shares […]

Virus crisis to restrain Asia’s growth at lowest since 1967

The coronavirus pandemic will likely drag Asian countries down to their lowest level of expansion in more than 50 years. Meanwhile, 38 million people are expected to succumb back to poverty, the World Bank warned on Monday.   The bank foresees a 0.9% growth for the region this year, its lowest rate since 1967. China’s […]

SMIC’s Hong Kong shares drop on export restrictions

On Monday, Hong Kong-listed shares of Semiconductor Manufacturing International Corp recorded more than a 7% drop. The decline followed after the United States implemented export-related restrictions on China’s largest chip provider over military concerns.   After a 6.7% drop, SMIC’s shares recorded a 7.9% decline to HK$12.12 ($2.21). This came to be the company’s worst […]

Gold breaks three-day loss streak as Dollar falls from highs

Gold broke its three-day loss streak, seeing a modest half-percent gain as the Dollar lost steam from its record highs on Thursday. The break in the safe-haven asset comes after a precipitous drop of more than $90, or nearly 5%, from Friday’s session highs of above $1,968. However, investors question whether the yellow metal’s turnaround […]

Euro drops to two-months low as COVID-19 fears lift dollar

The euro dropped to a two-month low on Wednesday as upbeat U.S. economic data and worries about a second coronavirus wave met tepid European indicators and lifted the dollar. Against the euro, the dollar rose up to $1.1671, its highest since end-July, after Germany’s private sector recovered less than expected in September amid weak local […]

Whitbread to cut 6,000 jobs due to the coronavirus pandemic

On Tuesday, Whitbread (WTB.L) announced plans to cut 6,000 jobs at its hotels and restaurants due to the weak global travel demand amid the coronavirus outbreak. Whitbread reported that its sales during the first half of its financial year were down by almost 80% due to the lockdown that forced the closure of its hotels […]

China releases new policies to support hydrogen vehicle sales

China, the world’s largest market for automobiles and new energy vehicles, released new policies to boost hydrogen fuel cell vehicles and improve the industry’s supply chain and technologies. While previous policies in support of NEV makers provided subsidies on sales, the new policies will require companies and local governments to create a more mature supply […]

Guolian Securities to buy Sinolink Securities

On Sunday, Guolian Securities Co. (1456.HK601456.SS) announced that it would buy Sinolink Securities Co. (600109.SS) through a stock swap. The securities brokerage company said that it would also purchase a 7.82% share from Sinolink’s biggest shareholder Yongjin Group. “The agreement of intent on share transfer was entered into between the Company and Guolian Securities Co. […]

Oil slips as U.S. Gulf production reopens after storm

Oil prices fell on Friday following three straight days of gains as producers took steps to reopen production in the U.S. Gulf and Saudi Arabian oil exports rose from record lows. Brent crude slid 6 cents to $43.24 per barrel, while U.S. oil futures fell 6 cents to $40.91 per barrel. Both contracts climbed sharply […]

Asian shares resist Wall Street decline; economy, election concerns drag gains

While there was a decline on Wall Street, Asian shares still advanced on Friday. However, shares were restricted from gaining further as worries about a dwindling economic rebound made investors cautious and prompted them to resort to safer assets. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.2% gain. The index is set […]

Dow retreats from gains as tech rally loses steam

The Dow retreated from a portion of gains made from a previous session on Wednesday after a rally in the tech sector showed signs of losing steam. The Dow Jones Industrial Average gained 0.47% (130 points), while the Nasdaq Composite lost 0.65%. The S&P 500 remained mostly unchanged. The gains in tech stocks slowed after […]

President Trump to receive a report on Oracle-TikTok deal

On Wednesday, U.S. President Donald Trump announced that he was not ready to approve a proposed deal from ByteDance that would make Oracle (ORCL.N) a technology provider for its popular video-sharing app TikTok. Trump said that he was waiting to receive a report from the U.S. Treasury Department about the proposed deal on September 17. […]

Zara’s Inditex regains profit after three months due to the coronavirus outbreak

Industria de Diseno Textil SA, the owner of Zara known as Inditex, reported on Wednesday that it regained its quarterly profit after the company’s sales plunged by 31% from May to July 2020.Inditex posted its second-quarter net profit worth 214 Million Euros ($253 Million), beating Refinitiv’s Smart Estimate Model (SME) forecast worth 96 Million Euros. The Spanish […]

Gold gains ahead of U.S. Fed policy decision

Gold prices rose earlier on Wednesday in Asia as investors awaited the results of the U.S. Federal Reserve policy meeting that would be announced later in the day. The meeting discussed whether the U.S. central bank would continue to keep interest rates low while easing inflation. Gold futures inched up by 0.11%, trading at $1,968 […]

Yen climbs to two-week high ahead of Fed policy decision

The dollar and the yen gained ground on Wednesday as traders held on to their positions ahead of a U.S. Federal Reserve policy decision. Meanwhile, the yuan held gains on a positive Chinese economic outlook.  The yen last stood at a two-week high of 105.26 on the dollar. The dollar rose against other majors after […]

Dollar falls, yuan gains on improved risk appetite

The dollar fell against risk currencies on Tuesday as hopes for a COVID-19 vaccine and big corporate deals lifted appetite for riskier assets. The yuan hiked to a 16-month high as overall Chinese data showed a steady economic recovery in the world’s second-largest economy, while the Aussie was lifted by the RBA’s policy minutes indicating […]

Gold prices gain as Dollar slump ahead central bank policy decision

Gold prices rose earlier on Tuesday in Asia after a rapidly descending Dollar saw record lows in a fortnight as investors awaited policy decisions from central banks. Gold futures rose by 0.61%, trading at a 12-day high of $1,975.75 per ounce at 12:30 AM ET (05:30 AM GMT). Meanwhile, Asian markets fell as investors wait […]

China’s industrial output expands, retail sales stimulate economy

August had seen China’s industrial output expanding at the fastest pace in eight months. Meanwhile, retail sales advanced for the first time this year, indicating that the country’s economic recovery is gaining momentum on demand’s emergence from the coronavirus drag. Industrial output growth accelerated 5.6% in August from a year earlier, data from the National […]

China’s new home prices advance higher, bolster economic rebound

August had seen China’s new home prices advancing faster than its usual monthly pace. This was mainly from signs of a rebound in consumer demand, supporting the emergence of the country’s economy from the coronavirus drag.   Average new home prices in 70 major cities advanced 0.6% in August from a month earlier. The jump […]

Amazon hires another 100,000 employees this year

On Monday, Amazon.com Inc. (AMZN.O) said that it would recruit another 100,000 workers to keep pace with the online shopping demand that jumped amid the coronavirus pandemic. The Seattle-based e-commerce company said that it would be the fourth hiring spree that was announced in the United States this year. According to Amazon, the positions were […]

Asian shares remain subdued as U.S. tech resumes decline

Asian share markets’ bearish mood persisted on Friday. The grim mood lurked after shares of leading technology firms in the United States dropped on emerging concerns about U.S. stimulus and as worries about their extended valuations pressed. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.2% drop. The index placed just above its […]

Nasdaq rebounds from record slump as tech stocks rally

Nasdaq rebounded on Wednesday, recovering from a record plunge after tech stocks from firms such as Apple Inc led the charge. The Dow Jones Industrial Average gained 2.40% (659 points). Meanwhile, the S&P500 gained 2.63%, while the Nasdaq Composite jumped up 3.1% after it had plummeted by a record 10%. The tech-heavy Nasdaq was boosted […]

UPS hires 100,000 seasonal workers for the holiday rush

On Wednesday, United Parcel Service Inc. (UPS.N) announced that it plans to hire more than 100,000 extra workers for the winter holiday season to help handle an increase in packages. The logistics company said that retailers are stretching out to avoid delivery network traffic due to the overwhelming amount of orders from online shopping. According […]

European stocks inches higher ahead of ECB meeting

European stock markets opened slightly higher earlier on Wednesday after news of a potential delay in a COVID-19 vaccine and a slump in U.S. tech stocks ahead of the European Central Bank’s (ECB) policy meeting on Thursday. Germany’s DAX futures rose 1.1%, while CAC futures in France gained 0.9%. FTSE futures in the United Kingdom […]

Global shares recover, attempt to disregard U.S. tech decline

Asian share markets and U.S. stock futures advanced on Tuesday. This followed after European markets made a minimal rebound, with investors weighing if high-flying U.S. technology-related shares could recuperate from their recent retreat. Japan’s benchmark index Nikkei recorded a 0.4% gain. This came after revised data confirmed that the country slid into its sharpest postwar […]

Losses Seen for Both Oil and Gold Before NFP

Oil is seeing signs of recovery after its mid-week tumble. The market is is yet again faced with a struggle in its attempt to keep an upside momentum, with some news factoring in with profit taking. The growth could have gone further, however, when a number of technical levels slipped, it spiralled down from there. […]

U.S. service sector seen slowing in August

The growth monitored in the services sector of the United States slowed in August. This followed after the effects of economic resumption and fiscal stimulus failed to maintain the growth’s momentum. The country’s non-manufacturing activity index placed 56.9 in August, according to the Institute for Supply Management. While it came lower than the 58.1 reading […]

Gold inches higher as Dollar weakens amid economic woes

Gold prices closed slightly higher on Thursday after it saw a steep slump during an earlier session as a weakening Dollar and a dampened global economic outlook added the shine to the yellow metal. Gold futures inched up by 0.19%, trading at $1,948.25 at 12:35 AM ET (05:35 AM GMT). Meanwhile, the Dollar fell by […]

S&P, Nasdaq reach historic highs on tech-driven rally

The S&P 500 and the Nasdaq both reached record highs on Tuesday. This could be attributed to a jump in technology-related stocks as Apple and Zoom Video greatly advanced. Meanwhile, upbeat economic data and stimulus talks in Washington bolstered investors’ sentiment. Tuesday marked Wall Street’s fifth month of gain as the S&P 500 hit its […]

Oil prices gain as investors shift to risk assets amid dollar slide

Oil prices gained in early trade on Tuesday, recovering overnight losses, as investors turned to risky assets and away from the safe-haven dollar, which fell to more than a two-year low. Brent crude futures rose 0.6%, or 27 cents, at $45.55 per barrel. U.S. West Texas Intermediate crude futures climbed 0.5%, or 21 cents, at […]

Dollar on course for fourth monthly drop, yen steadies as Suga runs for PM

The dollar is set to fall for the fourth straight month on Monday, its longest losing streak since 2017. The yen steadied after news that Prime Minister Shinzo Abe’s longtime lieutenant Yoshihide Suga joined the race to succeed him as Japan’s leader. The Japanese yen fell 0.2% to $105.55 in early morning trade. It rose […]

S&P, Dow advance on Fed’s inflation scheme, vaccine hopes

The S&P 500 and the Dow were seen upbeat, while the Nasdaq dropped on Thursday. This followed after investors’ sentiment was fuelled by the U.S. Federal Reserve’s new inflation scheme and its move to nurse employment in the United States. Meanwhile, encouraging medical findings to combat the coronavirus also supported the indexes. The S&P 500 […]

European shares slump as investors await dovish Fed speech

European shares traded lower earlier on Thursday, while the Dollar strengthened as investors eyed the Jackson Hole conference where U.S. Fed Chair Jerome Powell will deliver a key speech later in the day. The pan-European STOXX 600 fell by 0.1%, but still remained close to its two-week high. Meanwhile, Wall Street saw record highs on […]

Asian shares ease; greater flexibility expected from Feds

On Thursday, Asian shares had reached two-year peaks right after Wall Street’s record run with cheap cash driving up big-cap tech titans. While this is the case, China and the United States continue to stir tension as the session moved forward. An increase of 0.1% was seen in MSCI broadest index of Asia-Pacific shares outside […]

Dollar steady ahead of key speech from Fed

The dollar steadied against its peers on Wednesday ahead of a key speech from Fed Chairman Jerome Powell and U.S. data that are expected to report a slowdown in durable goods orders. The yuan hit a seven-month high after U.S. and Chinese officials reaffirmed their commitment to a Phase 1 trade deal, easing concerns about […]

Dollar falls as peers rise on U.S.-China phone call

The dollar fell, while the Aussie and the yuan rose after top U.S. and Chinese trade negotiators reported progress on the Phase 1 trade deal talks over a phone call. The news reassured investors that the trade relationship between the two countries will stay intact despite diplomatic tensions. The yen was up 0.2% to $106.17. […]

Oil prices mixed as storms threaten U.S. Gulf production

Crude oil prices were mixed on Tuesday as massive output cuts in the U.S. Gulf Coast due to Tropical Storms Marco and Laura weighed amid the pandemic. Brent crude oil futures rose 0.3%, or 14 cents, at $45.27 per barrel. U.S. West Texas Intermediate crude lost 0.1%, or 4 cents, at $42.58 per barrel. Energy […]

Gold prices fall on FDA approval for potential COVID-19 treatment

Gold prices fell once again earlier on Monday in Asia, continuing a consecutive second week of losses. Gold futures slipped by 0.36% to $1,940 per ounce at 12:25 AM ET (05:25 AM GMT). Meanwhile, stocks, which often moved inversely gold, gained in Asia on Monday. The U.S. Dollar remained steady at the start of the […]

Oil gains on its third week, supported by OPEC output cuts

Oil prices gained in early trade on Friday, nearing its third week of gains as it was supported by key producers’ compliance with the agreed output cuts amid concerns about fuel demand recovery during the pandemic. Brent crude futures climbed 0.4%, or 16 cents, at $44.07 per barrel. U.S. West Texas Intermediate crude futures were […]

Dollar rises from two-year low on Fed minutes

The dollar gained on Thursday, breaking away from a two-year low after minutes from last month’s Fed meeting prompted bears to buy the greenback in its biggest one-day gain since June.  The dollar index rose 1% to 92.90 in London trading. The jump following the release of the Fed minutes prompted for the dollar’s biggest […]

Gold prices fall as Dollar slowly recovers strength

Gold prices fell earlier on Thursday in Asia, retreating below the $2,000 mark once more as the U.S. Dollar slowly recovered from its record slump. Gold futures fell by 0.54%, trading at $1,959.70 per ounce at 12:30 AM ET (05:30 AM GMT). Investors retreated from the safe-haven asset after the Greenback gained slightly on Thursday’s […]

Qantas CEO says Australian state border closures affect the country’s recovery from the coronavirus outbreak

On Thursday, Qantas Airways Ltd.’s (QAN.AX) Chief Executive Officer Alan Joyce stated that Australia’s state border closures would severely affect the country’s recovery from its global travel losses due to the coronavirus pandemic. It also added that the closures would lead to a significant financial loss by the end of the year. The largest Australian […]

Dollar under pressure as doubts on U.S. economic recovery hover

The dollar stayed under pressure after falling to a 27-month low the previous session as doubts about U.S. economic recovery and the coronavirus fiscal aid weighed on the currency. The dollar hit new lows against its peers overnight as the Fed’s stimulus programmes weighed on it and lifted U.S. stock indexes to record peaks. The […]

Johnson & Johnson to acquire Momenta over $6.5 billion buyout deal

On Wednesday, Johnson & Johnson (JNJ.N) announced that it would acquire Momenta Pharmaceuticals Inc (MNTA.O) in a buyout deal worth $6.5 billion. The medical device company said that the acquisition deal would broaden its leadership in immune-mediated diseases and drive further growth. According to Johnson & Johnson, its company would have access to Momenta’s experimental […]

Oil slips, but keeps overnight gains as OPEC complies with output cuts

Oil prices slid on Tuesday but mostly kept overnight gains after OPEC+ said that producers are nearly fully complying with the agreed output cuts amid a collapse in fuel demand. Brent crude fell 0.5%, or 22 cents, at $45.15 per barrel. U.S. crude lost 0.5%, or 23 cents, at $42.66 per barrel.  OPEC+ producers’ compliance […]

Thai economy records historic decline in second quarter

The second quarter had seen Thailand’s economy recording its sharpest downturn in 22 years. This also came to be the economy’s largest quarterly drop as the coronavirus crisis and virus-related measures dragged tourism, exports, and domestic activity, projecting a dampened outlook. Southeast Asia’s second-largest economy declined 12.2% in the second quarter from a year ago. […]

Epic Games sues Apple and Google due to Fortnite’s removal from app stores

On Friday, Epic Games said that it would file federal antitrust lawsuits against Apple (AAPL) and Google (GOOG.L) after Fortnite’s removal from app stores. The legal complaint was filed in the United States District Court for the Northern District of California. “Epic brings this suit to end Apple’s unfair and anti-competitive actions that Apple undertakes […]

Gold prices down amid new COVID-19 vaccine hopes

Gold prices fell earlier on Thursday in Asia as investors eyed the surge in U.S. bond yields, a weakened Dollar, and a potential COVID-19 vaccine from Russia. Gold futures lost 0.08% to $1,947.50 per ounce at 11:19 PM ET (04:19 AM GMT), but still remained above the $1,900 mark. Bond yields surged and the Dollar […]

China asks the U.S. to create conditions for the Phase 1 deal implementation

Assistant Minister of Commerce Ren Hongbin announced on Thursday that China would ask the United States to stop taking restrictive and discriminatory action against Chinese companies. Hongbin also said that the U.S. should create conditions for the Phase 1 trade deal implementation. Senior U.S. and Chinese administrators were scheduled to review the Phase 1 deal […]

European airlines to cut recovery outlook amid the coronavirus pandemic

European airlines lowered their recovery outlook on Thursday due to prolonged travel restrictions and concerns about the second wave of the coronavirus outbreak. The International Air Transport Association (IATA) warned European states on imposing new travel restrictions due to new coronavirus cases. According to IATA, European passenger numbers were expected to decline by 60% this […]

President Trump to entirely ban Tiktok from U.S. app stores and advertisers

According to a White House document seen by Reuters on Wednesday, United States President Donald Trump would sign an executive order to permanently ban ByteDance’s short-video app TikTok from Google (GOOGL) and Apple (AAPL) app stores. “Prohibited transactions may include, for example, agreements to make the TikTok app available on app stores … purchasing advertising […]

Tencent beats second-quarter earnings estimates due to strong entertainment demand

On Wednesday, China’s gaming and social media giant Tencent Holdings Ltd (00700.HK) announced that its second-quarter net revenue was up by 37% worth 114.88 billion CNY. The multinational conglomerate holding company said that it managed to beat analysts’ expectations due to strong demand for in-home entertainment options and fast growth of its gaming business. “In […]

Dollar finds support over surge in U.S. bond yields

The Dollar found support on Wednesday as a surge in U.S. bond yields pushed the U.S. currency above the Japanese Yen, lifting hopes for a speedier economic recovery. The yield on U.S. debt saw a sharp gain in two months just ahead of a massive $38 billion auction scheduled for later in the day, improving […]

Gold prices fall below $1,900 amid rise in U.S. bond yields

Gold continued its two-day rout on Tuesday, falling sharply below the $1,900 mark after it plummeted more than 5% earlier in the week. Spot gold plunged as much as 2.1%, closing at $1,872.61 per ounce after trading at a high of $1,883.29 at 10:11 AM ET (0211 GMT). Meanwhile, gold futures also fell on the […]

Oil gains on U.S. coronavirus relief hopes, demand recovery

Crude oil rose on Tuesday as prices were supported by hopes for a U.S. coronavirus stimulus and a boost in Asian demand amid reopening economies. Brent crude rose 0.5%, or 22 cents, at $45.21 per barrel. U.S. West Texas Intermediate crude grew 0.8%, or 32 cents, at $42.26 per barrel. Prices gained a floor after […]

China auto sales grow in July, tally four-month win streak

July had seen China’s automobile sales advancing 16.4% from a year ago. This came to be the industry’s fourth consecutive month of gains as the world’s biggest vehicle market emerges from low levels brought by the coronavirus pandemic. Last month, sales advanced to 2.11 million vehicles. However, the record is still down 12.7% for the […]

Oil prices up as U.S. stimulus deal, Iraq output cut brings fresh hope

Oil prices rose earlier on Monday, recovering a portion of losses from last week’s session as the U.S. closed in on a stimulus deal. Iraq pledging to further cut its crude oil production also improved market sentiment. U.S. West Texas Intermediate (WTI) crude futures gained 1.2% (49 cents), trading at $41.71 per barrel at 08:10 […]

Goldman Sachs says that the approval of the coronavirus vaccine could upend markets

According to Goldman Sachs Group Inc.’s (GS) analysts, investors should consider the risk of a successful coronavirus vaccine that could upend markets by using different strategies including sell-off in bonds and rotation out of technology stocks into growth-linked cyclical stocks. “This kind of timeline could see a substantial boost to GDP [gross domestic product] relative […]

European stocks slip as markets await U.S. stimulus

European stocks edged lower on Thursday while investors were waiting for signs of agreement on the United States stimulus package. The pan-European STOXX 600 (SXXP) fell by 0.2% after the market’s opening while the German DAX traded flat by 27.9%. The Frankfurt Stock Exchange (FSE) was up by 0.2% as investors digested a new batch […]

Disney losses $5 billion amid the coronavirus pandemic

On Tuesday, Walt Disney Co (DIS.N) reported a quarterly loss worth $5 billion due to the coronavirus outbreak that has paralyzed its theme parks, live productions, cruise line, movie theaters, and sporting events worldwide. Disney’s shares initially dropped by 2% in after-hours trading but ended the extended session by 4.3% after the announcement of the […]

Dollar slides after U.S. political bout, bleak outlook cuts rally

A dollar boost stumbled on Tuesday as political debate over a U.S. coronavirus relief package and a bleak economic outlook weighed on the greenback.  After suffering its worst month in July, the dollar started August on a firm note as several investors began to cut down on short positions. The dollar index fell 0.2%. The […]

Asian shares advance on strong factory data

Asian shares recorded a well-ended session on Tuesday as upbeat manufacturing data and earnings in technology-related stocks outweighed worries brought by the coronavirus pandemic and global economy. MSCI’s broadest index of Asia-Pacific shares outside Japan tallied a 0.9% gain, while Chinese shares jumped 0.1%. Japan’s index Nikkei hiked more than 1% as Australian stocks advanced […]

Japan’s factory output recovers, unemployment rate drops on lockdown easing

June had seen Japan’s industrial output breaking its four-month slump. The recuperation could be attributed to a modest recovery seen in broader business and consumer activity after the world’s third-biggest economy suffered from the coronavirus pandemic. Japan’s factory output advanced 2.7% in June, official data showed on Friday. This followed after it plunged to its […]

Dollar sees record slump as U.S. recovery hopes lose steam

The Dollar fell to two-year lows on Friday, heading to its lowest decline in 10 years as concerns mounted over the economic recovery of the U.S. amid a second resurgence of the COVID-19 pandemic. The Dollar index plunged to 92.777, on course to post its biggest fall for the month in nearly a decade. The […]

Thailand’s finance ministry sees 2020 GDP to contract by 8.5%

Thailand’s finance ministry on Thursday cut back its 2020 economic forecast to a record 8.5% contraction in GDP. This is a substantial contrast from a 2.8% growth it expected in January as the COVID-19 situation continued to worsen. The ministry’s head of fiscal policy Lavaron Sangsnit also told a news conference that their forecast for […]

Oil climbs after U.S. stockpile drop prompts demand fears

Oil prices climbed on Wednesday after U.S. crude inventories fell against analysts’ expectations, prompting a boost in the market amid the coronavirus resurgence. Brent crude futures gained 0.3%, or 14 cents, at $43.36 per barrel. U.S. West Texas Intermediate crude futures rose 0.1%, or 2 cents, at $41.06 per barrel. U.S. crude oil stockpiles fell […]

Indian economy dims further, recovery still uncertain

The outlook for India’s struggling economy has darkened further on weak business activities and surging virus cases. This will likely prompt the Reserve Bank of India to lower interest rates again, a Reuters survey showed.   According to the July 20-28 survey of 60 economists, the Indian economy will contract this quarter and on the […]

Dollar slumps as markets focus on Fed, U.S. fiscal aid

The dollar fell again on Tuesday as the U.S. economy drops into stagnation, while investors await the latest outlook from the Federal Reserve and the passage of the U.S. coronavirus fiscal stimulus. The dollar’s decline lifted gold prices and the yen to its four-month high, while the euro stood below its 22-month peak and the […]

Australian employment rate drops on second wave of virus

Australia had seen its employment rate dropping 1.1% between mid-June and mid-July, weekly data showed on Tuesday. In addition to this, the southeastern state of Victoria recorded the sharpest plunge in employment as the state suffers from a fresh wave of virus cases. According to the Australian Bureau of Statistics (ABS), total payroll jobs declined […]

Samsung shares advance on Intel’s outsourcing scheme

Samsung Electronics’ shares joined TSMC, its competitor, as both extended gains on Tuesday. This was mainly from upbeat expectations that Intel Corp’s plan of outsourcing more chip producers would favor the chipmakers. Shares of Samsung Electronics recorded a 5.8% jump, soaring to the highest level in about five months. More so, the technology provider’s shares […]

U.S. economic forecast dims, job recovery may reverse

The reimplementation of virus-related lockdowns in some states dragged the U.S. economic outlook in the past month, according to economists in a Reuters poll who also warned that the monitored rebound in employment may reverse by the end of the year. On an annualized basis, the U.S. economy recorded a 33.8% decline last quarter. Though […]

Dollar trades lower as German confidence, EU stimulus plan boosts risk appetite

The Dollar traded lower earlier on Thursday in European markets after new hope of an economic recovery in Europe bolstered sentiment. The Dollar index fell by 0.1% to 954.808 at 3:10 AM ET (0710 GMT), gaining only slightly from the four-month low of 94.773. Against the Japanese Yen, the Greenback traded mostly flat at ¥107.09, […]

Flipkart acquires Walmart Indian stores

Flipkart Ltd announced on Thursday that it acquired a 100% stake in Walmart India Pvt Ltd that operates local cash-and-carry business. The electronics retail company had also launched its new digital marketplace called Flipkart Wholesale. “With the launch of Flipkart Wholesale, we will now extend our capabilities across technology, logistics, and finance to small businesses […]

U.S. home sales see record high; tight supply, virus crisis restrict growth

Backed by record-low mortgage rates, U.S. home sales reached its strongest record in June. However, the outlook for the housing market remained murky as low inventory and high unemployment rate pressed amid the virus crisis. Existing home sales advanced 20.7% to a seasonally adjusted annual rate of 4.72 million units in June. This came to […]

Waymo and Fiat Chrysler sign a partnership deal to develop self-driving cars

The self-driving car company Waymo LLC and Fiat Chrysler Automobiles NV (FCHA.MI) signed a partnership deal on Wednesday to fully develop self-driving cars, pickups, and SUVs. Waymo, an Alphabet Inc. (GOOGL.O) unit, and Fiat Chrysler said that they would work together to focus on developing robotic Ram ProMaster light commercial vehicles. They also stated that […]

Adevinta acquires eBay’s classified ads business unit in a $9.2 billion deal

On Tuesday, Ebay Inc. (EBAY.O) announced that it had reached a deal to sell off its classified ads business unit to Adevinta ASA (AD5B), a Norway-based classified ads publisher owned by Danish media company Schibsted (SBSTA.OL). The classified unit deal is valued at $9.2 billion that includes eBay getting $2.5 billion in cash and 540 […]

Euro steadies at four-month peak as market awaits EU summit

The euro steadied at four-month highs on the dollar after investors pinned hopes on the EU economic rescue fund as European leaders are expected to break a deadlock and agree on a deal. EU leaders had differing stands on the proposed 750 billion euro recovery fund to be raised on capital markets by the European […]

Oil drops as coronavirus resurgence threatens recovery

Oil prices fell on Monday on fears that a continued rise in coronavirus cases could stall fuel demand recovery.  Brent crude fell 0.2%, or 10 cents, at $43.04 per barrel. U.S. oil also lost 0.2%, or 6 cents, at $40.53 per barrel. The current tally of global coronavirus infections rose to 14 million with total […]

Renault’s sales down by 34.9% in the first half of the year

Renault SA (RENA.PA) announced on Monday that its global car sales fell by 34.9% in the first half of the year due to the impact of the coronavirus pandemic. However, the company said that it had seen some signs of recovery in June. The French automaker sold 1.26 Million vehicles this year compared with its […]

Japan’s export inactivity brings threat of longer economic slump at home and overseas

June had seen Japan’s exports recording a double-digit decline for four consecutive months. This suggests that the novel coronavirus pandemic tipped the world’s third-largest economy into its sharpest postwar slump, highlighting the possibility of a long and sharp global contraction. The country’s exports dropped 26.2% in June from a year ago, data from the Ministry […]

Falling shares result from U.S.-China tensions; China GDP growth eclipsed

On Thursday, the international market had seen a plummet in the value of Asian shares and U.S. stock futures. It is seen to be caused by worries of a falling-out between the United States and China as well as the hit that global economies had taken with the resurgence of COVID-19 infections. China’s unexpected economic […]

Gold falls slightly, losses limited amid COVID-19 surge and simmering U.S.-China relations

Gold prices were down slightly on Wednesday in Asia, losing gains made in a previous session. However, the safe haven asset’s losses remained limited as COVID-19 worries mounted on top of worsening U.S.-China relations. Gold futures slipped by 0.11% to $1,811.35 per ounce at 11:44 PM ET (4:44 AM GMT), still keeping above the $1,800 […]

Gold prices fall amid strengthening Dollar

Gold prices fell earlier on Tuesday in Asia as the Dollar strengthened, pulling traction away from the yellow metal. Gold futures fell by 0.85% to $1,798.65 per ounce at 1:12 AM ET (6:12 AM GMT), still remaining above the $1,800 level. Losses were limited as new outbreaks continued to be reported across the world. As […]

California closes businesses as coronavirus cases continue to rise

On Monday, California’s Governor Gavin Newsom ordered restrictions on bars, dine-in restaurants, gyms, and even ordinary offices across the state to shut down as coronavirus cases continue to climb which dims the economic growth of the United States as a whole. The affected businesses include all operations at bars and indoor activities at restaurants, wineries […]

Oil prices dip as investors expected oil supply easing at Wednesday’s OPEC meeting

Oil prices traded lower in Asia earlier on Monday, a few days before OPEC’s technical meeting scheduled on Wednesday. Investors are expecting that OPEC would further recommend the easing of its current supply cuts in a bid to reverse oil gains. Brent futures dipped by 0.74%, selling at $42.92 per barrel at 11:58 PM ET […]

Fed balance sheet sinks below $7 trillion, repo falls to zero

The U.S. Federal Reserve’s holdings of bonds and other securities fell on its fourth consecutive week, dropping below $7 trillion, while one key emergency liquidity measure slid to zero. The market took this as a sign that financial damages caused by the coronavirus pandemic have eased. The Fed’s total balance sheet size fell $88 billion […]

Britain’s retail warns of higher prices without EU trade deal

Britain’s retail industry encouraged UK and EU negotiators to arrive at a post-Brexit trade deal. This came after the retail industry stated that consumers will endure higher prices from next year if a tariff-free trade is not guaranteed. Thousands of jobs have been lost in the retail industry as shoppers avoided the high street due […]

Asian shares unsteady on virus surge, corporate earnings eyed

Asian shares performed unsteadily on Wednesday. This followed after an increase in new coronavirus cases in some parts of the world dampened investors’ optimism over a possible recovery in the economy. Meanwhile, oil prices eased on oversupply concerns. MSCI’s broadest index of Asia-Pacific shares outside Japan declined after recording its 4-1/2 month high last Tuesday. […]

Dollar firms as rising coronavirus cases weigh on recovery fears

The dollar firmed on Wednesday as a surge in new U.S. coronavirus cases and the reinstatement of lockdowns in several countries prompted a safe-haven bid. Risk sentiment also weakened after Federal Reserve officials stated that the rising coronavirus cases could impact economic growth. The yuan slid to 7.0228 against the dollar as most Asian currencies […]

French economy recovers faster than previously thought: central bank

The French economy is emerging from the inactivity brought by the coronavirus outbreak as fast or faster than what was predicted a month earlier, Bank of France Governor Francois Villeroy de Galhau said on Sunday. Last month, the Bank of France predicted that the European zone’s second-largest economy would record a 12% performance below normal […]

Australia’s Westpac to pay $5.5 Million for 8,000 workers because of staff underpayment

Australia’s second-largest lender, Westpac Banking Corp. (WBC.AX), announced on Friday that it would pay AUD 8 Million ($5.5 Million) including interest to around 8,000 employees who have underpaid their long service leave entitlements due to calculation errors. The company blamed the methodology used which failed to determine long service leave entitlements in situations where staff […]

Dollar steadies as U.S. coronavirus cases surge ahead of holiday

The dollar traded in a narrow range on Friday, lifted by safe-haven bid as the surge of new cases in the United States quelled risk appetite. The yuan steadied after China’s services sector rebounded and investors avoided bigger positions due to the diplomatic conflict between the U.S. and China over the Hong Kong security law. […]

McDonald’s halts U.S. resumption of dine-in services for 21 days

On Wednesday, McDonald’s Corp (MCD.N) said that it plans to pause the reopening of all dine-in services in its U.S. restaurants for the next 21 days as the coronavirus outbreak flares up in areas across the country. The fast-food chain had a 30% dip in global sales in the first two months of the current […]

Ryanair’s CEO warns to cut 3,500 jobs if pay cuts cannot be agreed

On Wednesday, Ryanair’s (RYA.I) Chief Executive Officer Michael Kevin O’Leary announced that around 3,500 jobs would be slashed at the airline unless it could agree on a series of pay cuts with staff. The warning came after the company resumed flights on almost 90% of its route network with just 40% of its usual July […]

Japan business confidence at lowest since 2009 due to virus crisis

Japanese manufacturers’ confidence dropped in the second quarter to levels not monitored since the global financial crisis of 2009. This highlighted the damage that the novel coronavirus crisis inflicted on the export-dependent economy. The headline index for big manufacturers’ sentiment was seen at -34 in June. This came to be the sharpest level the index […]

Asia stocks gain as China PMI lifts market mood

Asian shares gained on Tuesday after China’s manufacturing sector grew more than anticipated in June. The gain was a positive sign despite the global economic struggle amid the coronavirus pandemic. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.9%. Meanwhile, U.S. stock futures, the S&P 500 e-mini futures, were up 0.23%. Hong Kong stocks […]

Global housing markets suffer from virus-driven unemployment surge

The outlook for major global housing markets was monitored at a weak level. This could be attributed to pressing factors including unemployment surge, lockdown restrictions, and low immigration over the coming year, a Reuters survey showed. Fears of sustained housing inactivity increased in the June 9-24 global poll of more than 100 property market experts. […]

Oil falls due to U.S. crude stock build, virus fears

Oil prices fell again on Thursday, following the 5% drop from the last session, as a record build in U.S. crude stocks and a surge in new coronavirus cases are feared to weigh on fuel demand. Brent crude futures slid 0.7%, or 30 cents, to $40.01 per barrel. U.S. West Texas Intermediate crude futures were […]

Gold prices dip after White House clarifies trade deal mixup

Gold prices fell earlier on Tuesday in Asian trade, retreating from an earlier rally on the back of Washington’s comments on the U.S.-China trade deal. White House trade advisor Peter Navarro temporarily spurred worries from investors on Monday after he said that the trade deal with China was “over”. However, Navarro later added that his […]

SoftBank to sell $21 billion worth of T-Mobile stock

SoftBank Group Corp. (9984.T) announced on Monday that it would sell up to 198 Million shares of the U.S. wireless carrier T-Mobile U.S. Inc. (TMUS.O) worth $21 billion. The telecom company revealed a series of transactions to seek funds for a $41 billion share buyback and debt reduction plan. T-Mobile shares were down by 1.5% […]

Wirecard says missing funds most likely do not exist

On Monday, German payment service provider Wirecard (WDI) said that the 1.9 billion Euros ($2.1 billion), which were supposed to be held in two accounts, probably do not exist. “The Management Board of Wirecard assesses on the basis of further examination that there is a prevailing likelihood that the bank trust account balances in the […]

American Airlines to raise $3.5 billion in new financing

On Sunday, American Airlines Group Inc. (AAL) said that it is planning to raise as much as $3.5 billion from stock and notes offerings, as the ailing U.S. carrier grapples with the financial fallout of the travel restrictions caused by the coronavirus outbreak. According to the airline company, its revitalized funding would help boost its […]

The largest German airline Lufthansa gears up for bailout showdown with investors

Lufthansa’s Chief Executive Officer Carsten Spohr announced on Sunday that the company would seek to avoid grounding and insolvency before a showdown between the airline’s biggest shareholder and the German government over the terms of a 9 billion Euro bailout. Lufthansa’s (LHAG.DE) shares were down by 5.7% on Monday morning. The 79-year-old billionaire Heinz Hermann […]

U.S. President Donald Trump renews threat to cut ties with China


On Thursday, President Donald Trump renewed his threat to cut ties with China a day after the U.S. Trade Representative Robert E. Lighthizer told Congress that Trump did not see decoupling the U.S. and Chinese economies as a viable option. “It was not Ambassador Lighthizer’s fault (yesterday in Committee) in that perhaps I didn’t make […]

Bank Indonesia decides on third rate cut for 2020

Bank Indonesia on Thursday has decided to cut its benchmark rate for the third time this year with signals that it may ease further. The central bank of SouthEast Asia’s largest economy will cut the 7-day reverse repurchase rate by 25 basis points to 4.25%, marking it as the lowest since 2018. Governor Perry Warjiyo […]

S&P500 closes lower as investors eye new coronavirus cases

On Wednesday, S&P 500 closed lower due to the news about increasing coronavirus data and the prospect of a new round of economic lockdowns. Investors were divided on whether to take heart from signs of an economic recovery or fear the impact of the rising coronavirus outbreak. The S&P 500 and the Dow reversed earlier […]

Oil drops on fears of a second wave of coronavirus infections

Oil prices dropped on Monday as several countries reported new cases of infections, raising concerns of a second wave amid a recovery in fuel demand. Brent crude fell 2.4%, or 93 cents, at $37.80 per barrel. U.S. West Texas Intermediate crude lost 3.7%, or $1.33, at $34.93 per barrel.  After almost two months without fresh […]

Asian stocks slip over mounting second-wave COVID-19 fears

Asian stocks mostly traded low earlier on Monday after a surge of COVID-19 cases in several countries during the weekend brought about fears of a second wave. China’s Shanghai Composite increase by 0.01% at 10:33 PM ET (3:33 AM GMT), recovering gains lost in the previous session. Meanwhile, the Shenzhen Component was up by 0.35%, […]

Fed’s gloomy outlook prompts rush for dollar

The dollar steadied against risk currencies, while the yen hit a one-month peak on Thursday as the U.S. Federal Reserve reported a gloomy economic outlook. The Australian dollar fell from an 11-month high to $0.6966. The New Zealand dollar also broke its near-five-month high after falling 0.3% to $0.6516. The safe-haven yen rose to 106.90, […]

Gold rises amid lower interest rates and gloomy U.S. recovery predictions

Gold prices rose earlier on Thursday in Asia, continuing gains from the previous sessions after the U.S. Federal Reserve decided on Wednesday to keep the benchmark rate near zero. Gold futures gained 1.19% at $1,741.25 per ounce at 12:24 AM ET (05:24 GMT). However, investor sentiment were left sour after the Fed’s quarterly forecast saw […]

U.S. weekly unemployment claims subside, millions still jobless

The United States reported that business layoffs are subsiding. However, millions who lost their jobs due to the novel coronavirus pandemic still resort to unemployment benefits. This indicated that the labor market would take time to recuperate from the virus crisis even as firms resume accepting job applications. The weekly jobless claims report from the […]

Asian shares inch higher on growing economic optimism

Asian shares kept their momentum, extending their winning streak for nine consecutive sessions on Tuesday. Moreover, oil prices advanced as lockdown easing in many countries made investors enthusiastic over a relatively fast economic recuperation. MSCI’s broadest index of Asia-Pacific shares outside Japan has retained its performance, adding another strong session to its longest winning streak […]

Dollar falls, kiwi gains on price rally

The dollar rose against a basket of currencies in overnight trading but slid in London trading. This came after Friday’s data on U.S. employment prompted a rally. A recovery in U.S. employment data showed signs of a faster economic revival. However, the price rally paused in European trade as soon as the cautious sentiment kicked […]

German industrial production logs lowest record in April amid pandemic crisis

Germany took another step back to its road to economic recovery after it posted its lowest industrial production output in April amid the crisis of the coronavirus pandemic. Europe’s largest economy is up to another downhill trajectory after major companies in Germany were forced to scale back production, resulting in a 17.9% industrial output plunge […]

U.S. unemployment rate to advance by nearly 20% on virus-beaten jobs market

The U.S. unemployment rate is expected to soar by about 20% in May, surpassing the historic record monitored during World War Two.  The prediction is likely as millions of people suffer from joblessness, revealing the colossal damage of the novel coronavirus pandemic. Two separate records were released and according to Reuters, the unemployment rate soared […]

Gap reports nearly $1 billion first-quarter loss amid the virus outbreak

On Thursday, Gap Inc. (GPS.N) recorded its first-quarter loss of nearly $1 billion as the retail clothing company was forced to shut its stores due to the coronavirus pandemic. Gap’s shares were down by 8% after the extended session. According to IBES data from Refinitiv, analysts had forecast a loss of 67 cents per share […]

Euro firms as investors expect a boost in ECB stimulus

The euro hit multi-month highs against other currencies on Thursday as investors expected the European Central Bank to expand its bond-buying programme later in the day. The euro’s rally helped push the dollar’s index to 97.450, its lowest level in almost three months. This was on top of easing lockdowns worldwide that weakened the appetite […]

Mexico mining output to decline 17% in 2020: industry group

Mexican mining output has a high chance of dropping by about 17% in 2020 due to the disruptions brought by the novel coronavirus crisis. However, it is likely to recover in the first quarter of 2021, the head of the country’s mining chamber said on Wednesday. “Last year, the total value of mining production was […]

Australia renders stimulus package as pandemic drags construction sector

 Australia is set to launch its fourth economic stimulus package aimed at providing eligible residents the opportunity to renovate their homes. The scheme was announced by Prime Minister Scott Morrison on Thursday as the country attempts to salvage the virus-beaten construction sector. Eligible residents will receive a total amount of A$25,000 ($17,323) from the package […]

Global smartphone shipments projected to fall by 12% this year amid the coronavirus pandemic

The International Data Corporation (IDC) announced on Wednesday that worldwide smartphone shipments are expected to fall by 12% to 1.2 billion units this year because of low consumer spending due to economic crisis amid the coronavirus outbreak. “What started as a supply-side crisis has evolved into a global demand-side problem. Nationwide lockdowns and rising unemployment […]

Dollar plunges as investors turn to Asia currencies amid recovery hopes

The dollar dropped on most Asian currencies on Wednesday as investors gained appetite for risky assets amid government stimulus and economic recovery. The Australian dollar hit a five-month high of 0.6982 on the dollar. The commodity currency rose as investors favored the bullish sentiment amid easing lockdowns and rising commodity prices. The New Zealand dollar […]

TUI agrees for a compensation deal with Boeing, delays 737 MAX orders

Europe’s biggest travel company TUI Group (TUIT.L) stated on Wednesday that it has agreed for a compensation package with aircraft maker Boeing Co. (BA.N) to shield its finances from the impact of the coronavirus pandemic. The deal includes a slower delivery of Boeing’s grounded 737 MAX planes. The Germany-based company said in a statement that […]

Volkswagen AG will resume operations in Mexico on June 15

German automotive manufacturing company Volkswagen Group (VOWG) announced on Monday that it would gradually resume operations in the states of Puebla and Guanajuato on June 15. The company decided to pause its activities last March due to the coronavirus outbreak. Volkswagen would only allow 30% of its workforce in staggered shifts. According to United Auto […]

UK factories see sharp decline for May, but less than in April

British factory activity saw a sharp decline for the month of May, according to a survey conducted on Monday. However, the pace of the decline was much slower than that of April, when the COIVD-19 lockdown brought most of the economy to a near halt. The final IHS Markit/CIPS Manufacturing PMI for May was at […]

Australian economy likely to contract due to pandemic, dim outlook looms

Australia’s economy is likely to have contracted in the first quarter as the novel coronavirus crisis drags the land down under to its first recession in three decades. Fifteen economic analysts foresee that the A$ 2 trillion economy will decline by 0.3% in the three months ended March. This will come as the country’s first […]

Oil prices slip on weak U.S. fuel demand

Oil prices fell on Friday after U.S. inventory data reported weak fuel demand, while the U.S.-China tensions continued to weigh on the markets. Brent crude slid 0.7%, or 25 cents, at $35.04 per barrel. U.S. West Texas Intermediate crude dropped 1.6%, or 53 cents, at $33.18 per barrel. Both benchmarks are nearing their fifth-week gains. […]

Asian stocks fall as mounting U.S.-China tensions dampen risk sentiment

Asian stocks fell on Friday, closing at a sour note for May as escalating tensions between the U.S. and China dampened investor risk sentiment. U.S. President Donald Trump is set to reveal his response to Beijing’s national security laws at a press conference later in the day. China had approved the enactment of the laws […]

Costco’s revenue falls amid coronavirus pandemic

On Thursday, American multinational warehouse club operator Costco Wholesale Corp. (COST.O) reported a 7.5% decline in its third-quarter revenue. The retail company spent $300 Million on incremental wages and extra sanitation costs amid the coronavirus pandemic. The company’s shares fell by 2% in extended trading. Costco said that its quarterly profit was severely affected by […]

German inflation to recede in May, regional data shows

Germany is anticipating an inflation rate drop as the national preliminary inflation data is set to be released 1200 GMT. This reading surfaced after regional inflation figures showed inflation plunging in the month of May. Some German states including North Rhine-Westphalia yielded a tamed consumer price inflation, with a 0.5% year-on-year compared to 0.8% in […]

Dollar gains amid mounting U.S.-China tensions

The U.S. Dollar rose earlier on Wednesday in Asia as tensions grew between the U.S. and China over Beijing’s decision to implement national security laws in Hong Kong and Macau. The U.S. Dollar Index gained 0.26% to 99.168 by 12:06 AM ET (5:06 AM GMT). U.S. President Donald Trump promised a strong Washington reaction by […]

National Bank of Canada, Scotiabank surpass forecast despite profit decline

The National Bank of Canada and Scotiabank reported acceptable second-quarter results on Tuesday. Both banks surpassed analysts’ estimates even though their respective profits suffered from loan-loss provisions due to the novel coronavirus crisis. The National Bank of Canada reported a 32% drop in profit in the three months ended April 30. The decline followed as […]

Germany’s Lufthansa still in talks with the government over $9.81 billion bailout offer

Germany’s Economy Minister Peter Altmaier announced on Monday that the government is still negotiating with the European Commission over its rescue deal for German airline Lufthansa (LHAG.DE). He added that Berlin expects Brussels to approve the bailout. The €9 billion ($9.81 billion) bailout deal was one of the biggest aid packages by a single country […]

Dollar rises 0.3% on majors, lifted by U.S.-China conflict

The dollar gained on Friday as the U.S.-China conflict boosted market appetite for safe-haven currencies. The dollar index rose 0.3% to 99.7. U.S. President Donald Trump warned of a strong reaction if Beijing pursues its planned security legislation in Hong Kong. U.S.-China tensions intensified during the pandemic after Trump criticized China’s handling of the virus […]

SoftBank Group to sell 5% telco unit stake to raise $2.9 billion

SoftBank Group Corp. (SFTBY) announced on Thursday morning that it plans to sell 5% of its stake in SoftBank Corp., a separately listed Japanese wireless mobile company. The move would raise 310.2 billion Yen ($2.9 billion) through securities companies as a part of the $41 billion asset sale program. After the announcement, SoftBank Corp.’s share […]

Hong Kong pulls Asian shares down amid China’s new national security laws

Hong Kong shares fell on Friday as Beijing readies to impose a new security law after the pro-democracy protests in 2019. The decision could bring about more civil unrest, further building tensions between the U.S. and China. Hong Kong’s Hang Seng index slid 3.7% to a 7-week low, lowering the MSCI’s broadest index of Asia-Pacific […]

UK government is ready to support workers after Rolls-Royce job cuts announcement

A spokesman for Prime Minister Boris Johnson stated on Wednesday that the UK government would be ready to support Rolls-Royce’s (RR.L) employees after the British multinational engineering company announced that it would slash at least 9,000 jobs from its global workforce of 52,000. Rolls-Royce said that it plans to reorganize the company to cope with […]

Japan exports hit sharpest drop since 2009 as pandemic drags global demand

April records showed that Japan’s exports dropped the sharpest since the 2009 financial crisis. Exports declined as the coronavirus pandemic ravaged worldwide demand for cars, industrial materials, and other products, pushing the world’s third-biggest economy further into recession. Year-on-year records from the Ministry of Finance showed that the country’s exports declined 21.9% in April. The […]

Australian retail sales record a historic drop in April

Australian retail sales reversed sharply in April after a record hike the month before. The record-breaking drop followed as lockdown restrictions aimed at containing the spread of the coronavirus dragged demand for apparel, travel, and dining. The Australian Bureau of Statistics released on Wednesday its initial forecast, showing that the retail sector dropped a total […]

Dollar eases as vaccine trials lift risk appetite

The dollar bounced on Tuesday after the COVID-19 vaccine trial reported encouraging data, lifting market appetite for risky currencies. The euro surged against the dollar and the Swiss franc after Germany and France proposed for a 500 billion euro recovery fund for European regions hardest hit by the pandemic. Commodity currencies and risky assets also […]

Gold prices gain amid simmering U.S.-China trade tensions

Gold prices rose early Tuesday in Asia, taking back lost ground from the previous session. Gold futures gained 0.27% to $1,739.35 per ounce at 12:43 AM ET (5:43 AM GMT). Stocks, which often move in the opposite direction, also rallied on the same day. Investors flocked to the yellow metal amid rising trade tensions between […]

Thai economy contracts the sharpest, struggling months lurk

Thailand’s economy hit its sharpest downturn in eight years in the first quarter. Though it contracted by less than speculated, struggling months impend as the coronavirus crisis ravages tourism and domestic activity. Southeast Asia’s second-largest economy declined by 1.8% in the first quarter from a year earlier. This came to be the sharpest economic reversal […]

China’s factory deflation worsens on virus-beaten demand

China’s factory prices dropped at its worst level in four years. April records indicated frail industrial demand in the world’s second-biggest economy as the COVID-19 pandemic restricts economic growth. The producer price index (PPI) lost 3.1% from a year earlier, worse than the 1.5% decline in March and larger than the 2.6% forecast rendered by […]

Starbucks to reopen 150 branches across the UK to serve drive-thru coffees

The largest coffee house chain in the world, Starbucks Corp. (SBUX.O), announced on Monday that it would begin the “phased reopening” of 150 branches in the United Kingdom. With the easing of restrictions allowing more travel on roads, Starbucks will start reopening drive-thru locations and a handful of takeaway-only stores on May 14. The company […]

Asia shares climb as more countries ease restrictions

Asian shares gained on Monday as investors await more countries to re-open their economies despite a pick up in coronavirus cases. South Korea warned of a second wave of infections as cases grew to a one-month high, while new infections were reported in Germany. MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 1.1%. Japan’s […]

Oil falls due to oversupply, fears of second coronavirus wave

Oil prices dropped on Monday due to oversupply and a gloomy economic outlook caused by the coronavirus pandemic. This prompted some of the world’s top producers to cancel their supply cuts. Brent crude futures lost 0.9%, or 29 cents, at $30.68 per barrel. U.S. West Texas Intermediate crude futures dropped 0.7%, or 17 cents, at […]

Emirates to increase debt as worst months loom

Emirates, one of the world’s largest long-haul airlines, announced on Sunday its plan of increasing debtEmirates, one of the world’s largest long-haul airlines, announced on Sunday its plan of increasing debt to alleviate the damage caused by the COVID-19 pandemic. More so, it is likely to implement more intensive measures as struggling months impend. The […]

China slashes interest rates for SLF loans in April

China’s central bank reduced interest rates on its standing lending facility (SLF) in April. The scheme was to implement similar reductions made in other liquidity instruments aimed at salvaging the virus-beaten economy. The People’s Bank of China had slashed its SLF rates by 30 basis points, with overnight loans now at 3.05%, seven-day loans at […]

Asian stocks rally after NASDAQ enters positive territory

Asian shares ended on a week high during the previous session after NASDAQ entered positive territory for the first in the year. Japan’s Nikkei led the rally, gaining 2.07% at 10:53 PM ET (3:53 AM GMT) after the nation had granted “exceptional approval” to Gilead Sciences’ experimental drug Remdesivir. The potential treatment for COVID-19 patients […]

Nintendo surpasses Switch forecast; Animal Crossing tops demand

Japan’s Nintendo Co Ltd (7974.T) advanced with a 200% increase brought by surging demand in Switch games console. More so, Animal Crossing: New Horizons sold a record of 13.4 million units in its first six weeks, on track as the company’s fastest-selling game.   The Kyoto-based gaming company showed its operating profit soaring to 89.4 […]

Liberty and Telefonica agrees for a $38 billion deal to take on BT

Liberty Global Plc (LBTYA.O) and Telefonica SA (TEF.MC) made a deal on Thursday to combine their British businesses at $38 billion including debt. The joint venture will heighten the challenge for British Telecom pioneers in mobile and broadband. According to Telefonica’s Chief Executive Officer Jose Maria Alvarez-Pallete, the deal is an opportunity to signal investors […]

Dollar to dominate majors through pandemic: analysts

The safe-haven dollar will remain to dominate currency markets for three more months amid economic risks brought by the coronavirus pandemic. As the global economy nears a standstill, traders refrained from investing in risky currencies. While most majors suffered losses, the dollar has risen 3.5% this year.  However, the dollar could lose its dominant position […]

U.S. unemployment claims perpetually filed as COVID-19 hits economy

Americans, by the millions, have yet again filed for unemployment last week. This telegraphs further layoffs not only from the consumer industry, but with other branches of the economy as well. And despite the country’s apparent reopening, it is forecasted that the number will remain afloat. The lockdown compelled by the COVID-19 outbreak had placed […]

Ford projects in China cap sales growth in April as market recovers

American auto firm Ford Motor Co reported sales growth in its two China ventures in April. The sales cap signals the incipient recovery of the world’s largest car market after suffering from pandemic-driven lows. Chongqing Changan Automobile Co Ltd, Ford’s major joint venture in China, marked a 38.3% sales increase from the same period in […]

Dollar edges higher ahead of week’s event risk

The Dollar edged higher on Wednesday morning in Europe, with investors remaining cautious ahead of event risks for the week. This includes a U.K. central bank meeting and the release of key U.S. unemployment data scheduled for Thursday. The U.S. Dollar Index rose by 0.2% to 99.925 at 2:40 AM ET (0640 GMT). The British […]

Oil suffers as supply concerns emerge from increasing U.S. stocks

Oil underperformed on Wednesday, with a frail trading session ending oil prices’ high-streak records. Underperformance was brought by an unprecedented boost In U.S. inventories, bringing oversupply concerns amid a virus-driven slump in oil demand. U.S. West Texas Intermediate (WTI) crude CLc1 futures dropped 27 cents to $24.29 a barrel by 0436 GMT. It ended a […]

Oil prices decline on U.S.-China trade dispute

Oil prices underperformed in the early trading session on Monday. Weak trading activity was mainly from investors’ dampened sentiment that the oil dispute between the United States and China will hinder economic recuperation as countries gradually lift lockdown restrictions. U.S. West Texas Intermediate (WTI) crude CLc1 futures dropped as low as $18.32 a barrel. It […]

Australia to push for hydrogen projects with $190 million

The Australian government will invest A$300 million ($191 million) into hydrogen projects with the support of low-cost financing, according to the country’s energy minister on Monday. The investment comes in a bid to build the hydrogen industry by 2030. The move into hydrogen is seen as one of the few areas where both the conservative […]

UK to implement state-backed loans for small businesses

The UK government will be implementing a new loan scheme starting on Monday. The loans will allow small businesses such as salons, cafes, and florists to receive emergency funds in a bid to keep them afloat during the COVID-19 lockdown. Finance minister Rishi Sunak had announced about the loans on April 27 despite his stand […]

Daimler says profit s from Mercedes-Benz division to rise in 2020

Stuttgart-based car and trucks maker Daimler said that it expects the operating profit from its Mercedes-Benz unit to exceed that of the previous year. The announcement came even after the company had abandoned its outlook earlier in April. The company’s earnings for the first quarter before interest and taxes (EBIT) was €617 million ($669.45 million). […]

Gold prices rise as investors await U.S. Fed decision

Gold prices rose in Asia earlier on Wednesday, continuing its gains from the previous session. Gold futures gained 0.22% to $1,726 per ounce at 12:16 OM ET (5:16 AM GMT). The yellow metal previously rose by 0.10% in the previous session. The gains come as an anticipated Federal Reserve policy meeting bolstered investors’ risk appetite. […]

Australia’s first-quarter inflation worsens, prices may suffer in second quarter

Australian inflation surged to its most rapid pace in over five years, hitting a 5-1/2 year-high record, according to figures released on Wednesday. However, economic recovery seems fleeting as virus disruptions continue to press and energy prices fluctuate. The headline consumer price index (CPI) increased 0.3% in the first quarter, recording a 2.2% inflation rate […]

European stocks up amid positive earnings; Wirecard shares plunge

European stocks maintained two-week highs on Tuesday as strong earnings reports from companies inspired optimism. The positive news outshone that of the rout in oil prices and the plummeting shares of Germany’s Wirecard. The pan-European STOXX index gained 0.1% at 0722 GMT as several countries prepare to ease the pandemic-led lockdown measures. The index closed […]

L Brands sues Sycamore for cancelling Victoria’s Secret deal

L Brands Inc. (BRBY.L) sued Sycamore Partners on Thursday after cancelling the purchase of a $525 Million deal of controlling stake in lingerie retailer Victoria’s Secret.  It is the first major U.S. legal fight over an agreement termination because of the virus outbreak. Sycamore said in the filing that L Brands violated the agreement when […]

Asian shares rally on U.S. stimulus, oil recovery

Asian stock markets advanced on Thursday. The upbeat performance followed after crude prices recovered from underperformance and as the U.S. government pledged to provide more stimulus to nurse the virus-beaten economy. MSCI’s broadest index of Asia Pacific shares outside Japan soared by 0.5% at 460.43 points, regaining momentum after a two-week low. Australian S&P/ASX increased […]

Detroit automakers and UAW to discuss reopening of U.S. plants

The United Auto Works (UAW) said on Wednesday night that discussions with Detroit’s major automakers are still inching towards safely reopening U.S. production plants. Collectively known as Detroit’s Big Three, Ford Motors Co, General Motors Co, and Fiat Chrysler Automobiles NV had previously halted operations in March due to the COVID-19 outbreak reaching the United […]

Dollar rises against commodity currencies as investors rush to safety

The dollar rose against the currencies of oil producers on Thursday as a bounce in oil prices partly calmed investors amid a collapse in global demand. The euro steadied against the dollar and the pound ahead of an EU meeting on economic response to the crisis. It traded at 1.0810 against the dollar and 87.72 […]

Oil gains on second day as weak demand urges output cut

Oil gained on Thursday as producers slashed production to compensate for weak demand. Brent crude rose 1.6%, or 33 cents, at $20.70 per barrel. U.S. West Texas Intermediate futures climbed 2%, or 28 cents, at $14.06 per barrel. U.S. crude futures plunged to below minus $40 as storage space ran out. In the United States, […]

Australian retail sales advance, might prevent GDP decline

Australian retail sales soared to its highest level in March as the pandemic prompted people to purchase large volumes of food and other essentials. The increase might pull the economy from slipping to a sharp contraction in the first quarter. The Australian Bureau of Statistics on Wednesday showed its initial estimate of retail sales and […]

Trump to “look at” stopping Saudi oil imports, help domestic oil industry

U.S. President Donald Trump announced that his administration was considering halting crude oil shipments from Saudi Arabia to help the local drilling industry. At a daily news conference, Trump said that his administration will “look at” the suggestion raised by Republican lawmakers. U.S. crude oil futures slumped for the first time in history on Monday, […]

Jobs down at 6% in Australia amid virus outbreak

Millions of people have lost their jobs between mid-March and early April as Australia faces economic contraction on Tuesday amid the virus outbreak. A lot of businesses cease their operations, which indicate an increase in the natural rate of unemployment for the next few months. The Australian Bureau of Statistics (ABS) released figures that show […]

Dollar rises as oil plummets to record levels

The Dollar rose on Monday as investors saw the greenback as a safe haven after oil prices plummeted to record levels the day before. Crude WTI Futures slid into negative territory for the first time to -$37.63 during an earlier trading session. The U.S. Dollar Index that tracks the dollar against a basket of other […]

Dollar firms, investors cautious on economic re-opening

The dollar firmed on Monday while risky currencies fell, as governments worldwide prepare for an economic re-start. Major currencies were range-bound but the New Zealand, Canadian, and Australian dollars all fell 0.3%. Asian equities and U.S. stock futures also eased. The Australian dollar traded at $0.6344, while the New Zealand dollar stood at $0.6013. As […]

U.S. oil drops to lowest level since 1999

Crude oil futures declined on Monday while U.S. futures fell to its lowest level since 1999. This was on top of concerns about global oil demand and the filling of strategic reserves in the United States. The oil volume held in U.S. storage rose as refiners slowed down production due to weak demand. The May […]

Dollar falls as virus treatment hopes bolster risk appetite

The dollar fell on Friday after news of a successful trial for a potential COVID-19 treatment bolstered market outlook and risk appetite. The U.S. Dollar Index fell from its week-long high by 0.25% to 99.862 at 11:34 PM ET (4:34 AM GMT). The Japanese Yen rose against the dollar by 0.22% to $107.71. Meanwhile, the […]

Saudi Arabia deals with virus outbreak from position of strength


Despite having a strong financial condition with low debt obligations, the Kingdom of Saudi is still struggling from the current worldwide crisis according to its Finance Minister Mohammed Al-Jadaan on Friday. Al-Jadaan said the priorities of the Saudi government are aimed at establishing precautionary steps to secure the safety and well-being of its citizens and […]

Fed balance sheet rises to record $6.42 trillion

The Federal Reserve’s balance sheet rose to a record $6.42 trillion as the central bank soaked up on assets to prevent an economic collapse. Since March, the Fed has cut interest rates, released stimulus programs, and resumed bond purchases to keep credit flowing and support businesses and households. The central bank’s balance sheet rose $300 […]

Asian shares soar as plans to re-open U.S. economy aid weak China GDP

Asian stocks recorded a well-ended session on Friday. The upbeat performance was mainly from President Donald Trump’s decision of reopening the U.S. economy, completely supporting the frail gross domestic product of China. MSCI’s broadest index of Asia-Pacific shares outside Japan advanced with a 2.6% gain. This followed after the index hit a five-week high record. […]

Oil recovers as strategic reserves fill up

Oil gained on Thursday and U.S. crude recovered from nearing 20-year-lows on hopes that inventories will build up. This could leave oil producers no option but to further production cuts as demand weakened amid the crisis. Brent crude rose 2.5%, or 69 cents, at $28.38 per barrel. U.S. West Texas Intermediate was up 2.8%, or […]

Bankruptcy fears compel J.C. Penney to disregard interest debt payment


J.C. Penney Co Inc will skip a $12 Million interest payment on Wednesday, putting the struggling retailer towards a potential default. It was reported that the department store chain was close to filing bankruptcy protection to save money and to evaluate financial alternatives. The Chapter 11 bankruptcy protection could help J.C. Penney recapitalize its nearly […]

China’s home prices resume growth as COVID-19 impact eases

Home prices in China resumed its growth after stalling in February due to the pandemic. The resurgence implies pent-up demand as the effects of the outbreak steadily eased on property markets. China has recently lifted curfews and lockdowns as authorities slowly brought the COVID-19 pandemic under control. Average new home prices in 70 of China’s […]

U.S. opposition slows down major IMF liquidity help


The U.S. opposition wanted to stop the International Monetary Fund from using its strong tools to support other countries in fighting coronavirus on Wednesday. IMF proposed to create a new portion of Special Drawing Rights. The national bank will print new money, which was suggested by financial specialists and non-profit groups, to give as much […]

Japan’s Prime Minister will pay out more cash to aid pandemic hit economy

Japan’s Prime Minister Shinzo Abe faces financial pressure from his political partners on Wednesday. The prime minister was expected to disburse more cash to people to lessen financial crisis amid the virus outbreak. The government will distribute $1 trillion worth of stimulus package including cash payouts of 300,000 yen. This is only available for families […]

Indonesia central bank may retain policy rates until market recovers

Several analysts expect that Indonesia’s central bank is likely to retain its policy rates on Tuesday, as its currency and capital markets strive to gain momentum amid disruptions brought by the coronavirus pandemic. Fifteen out of 28 analysts who participated in the poll predicted that the bank would retain its 4.50% repurchase rate IDCBRR=ECI. Eleven […]

Dollar gains as investors rush for safe havens due to virus worries

The dollar rose on Wednesday as the market turned to safe-havens, reversing risk currency gains after investors hoped the crisis in Europe and New York was slowing down. The dollar gained against major currencies except for the safe-haven yen, a day after its steepest fall against a basket of currencies in almost two weeks. Safe-haven […]

Asian equities extends gains as COVID-19 cases slow down

Asian equity markets extended gains on Tuesday after the United States, Italy, and Spain reported a steady decline in COVID-19 cases over the weekend. South Korea’s KOSPI inched up by 0.95% at 10:23 PM ET (3:23 AM GMT) as Samsung Electronics exceeded expectations after announcing that their first-quarter profits reached near $5.2 billion. Japan’s Nikkei […]

Novel coronavirus drags India’s services sector down

India’s most advanced sector, the service sector that provides job opportunities and heavily contributes to economic growth, declined in March. Such inactivity was brought by insufficiency in export demand and new business due to the coronavirus contagion which had already caused worldwide disruptions. March records have it that the Nikkei/IHS Markit Services Purchasing Manager’s Index […]

Healthcare stocks resist bearish market

NEW YORK- Healthcare stocks ran bull as coronavirus pandemic boosted demand in the U.S. healthcare sector, home to businesses and firms necessary to combat the deadly novel coronavirus disease. Pharmaceuticals Inc gained 24% while Gilead Sciences Inc added 8%. Top advancers are pharmaceutical and biotechnology companies, including those that endeavored to produce COVID-19 vaccines and […]

Energy stocks shore up European shares as markets scramble amid crisis

European shares gained on Thursday, caused by a bounce in energy stocks as investors pin hope on a deal between Saudi Arabia and Russia regarding their oil price war. The pan-European STOXX 600 gained 0.3%. The energy sector .SXEP hiked 4.4%, with Royal Dutch Shell, BP, and Total SA contributing to the gain. However, the […]

Asian stocks fall as economy turbulence pile on market fears

Asian stock market underperformed on Thursday as piling economic turbulence led by the coronavirus pandemic continued to batter economies and governments around the world. Australia’s ASX 200 fell by 2.29% while Japan’s Nikkei slid by 0.74% at 10:14 PM ET (3:14 AM GMT). South Korea’s KOSPI inched up by a moderate 0.74%. Hong Kong’s Hang […]

Oil prices drop as U.S. inventory build-up, OPEC rift stresses market

Global crude oil prices fell on Wednesday, following their biggest successive quarterly and monthly losses, due to a largely expected rise in U.S. supply and a heightened conflict within OPEC. Oil prices have dropped close to their lowest since 2002 as the coronavirus crisis brought the global economy to a slowdown and weakened oil demand. […]

Dollar steadies as investors brace for global economic contraction

The dollar steadied on Wednesday, supported by its safe-haven status, as the world braced one of the biggest economic contractions for decades. It gained against the yen, pound, euro, Swiss franc, New Zealand and Australian dollars as the market lost appetite for cash due to the liquidity measures imposed by the U.S. Federal Reserve. The […]

Asian shares trade in green but COVID-19 caps gains

TOKYO- Asian shares gained on Wednesday, with Australian shares heavily contributing to the upbeat market activity. However, the margin of risk for equities remains wide as the novel coronavirus contagion brings constant disruptions to the world economy. MSCI’s broadest index of Asia-Pacific shares outside Japan increased up to 0.33%. Australian shares recovered from underperformance with […]

Gold prices slip as Russia suspends bullion purchase

Gold prices slip as Russia suspends bullion purchase Gold prices fell on Wednesday morning, stretching out losses from Tuesday as speculations grew of Russia planning on moving from a major bullion purchaser to a seller. Gold Futures had slid down by 0.13% to $1,594.45 per ounce at 09:40 PM ET (2:40 AM GMT). However, the […]

U.S. and Russia agree to talks, Oil prices rebound after 18-year lows

Oil prices strongly rebounded after United States President Donald Trump and Russian President Vladimir Putin finally decided to meet and talk about global energy markets on Tuesday. Oil markets have plunged to 18-year lows shortly after the coronavirus pandemic decreased fuel demands all around the world. Brent oil price LCOc1 jumped to 30 cents, at […]

Pandemic crisis to hit economic growth in Asia, China, World Bank says

Developing economies in East Asia and the Pacific, as well as China, are expected to suffer steep decline in growth due to the coronavirus pandemic, according to the World Bank on Monday. The bank announced that specific growth forecasts were difficult due to the uncertainty of the situation however, it says estimates are between 2.1% […]

Ted Baker appoints Rachel Osborne as the new chief executive officer

The British luxury clothing retail company Ted Baker (TED.L) on Monday promoted Chief Financial Officer Rachel Osborne as the new Chief Executive Officer, in substitute to Lindsay Page who resigned a year ago. The British organization said that the search for a chairman administrator is advancing well and that Sharon Baylay will still lead as […]

HK Dollar outperforms the Greenback, bolstered by high loan rates and low market liquidity

The Hong Kong Dollar outperformed the U.S. Dollar, propelling it into a record gain above 0.51% for March in 16 years. The HK Dollar is perceived to climb further in the coming months as local borrowing rates are predicted to stay higher than that of the U.S. and a low interbank liquidity pool in Honk […]

Chinese industrial firms report steepest decline in profits in a decade

China’s industrial firms’ profits sank to the lowest in a decade, with mining, manufacturing, and power sectors all suffering from steep declines due to the coronavirus impact. Profits in the first two months of the year fell 38.3% year-on-year, to 410.7 billion yuan ($58.15 billion), an even steeper fall from the 6.3% decline in December […]

Asian markets operate cautiously prior to US stimulus, jobs data

SINGAPORE- Asian share markets started regular sessions in an anxious tone on Thursday after advancing for two consecutive days.  Such performance was observed as investors await for the implementation of the $2 trillion stimulus package in the U.S. to minimize the impact of virus to the global economy. Japanese benchmark index Nikkei lost 2.2% while […]

Worldwide smartphone sales drop 14% in February due to COVID-19 contagion

SHANGHAI- A sharp 14% drop in smartphone sales was monitored last February as the novel coronavirus continues to reach larger scale, according to Counterpoint Research on Thursday. Such may be the start of other market declines as the virus spreads across the globe.  The fast-paced coronavirus contagion urged Apple Inc (AAPL.O) and other mobile phone […]

$2 trillion fiscal stimulus drives dollar lower

The dollar slid for the third straight day on Wednesday as the US’ proposed fiscal stimulus package eased markets driven by demand for cash.  US senate majority leader Mitch McConnell said that the $2 trillion (1.70 trillion pounds) will be voted on Wednesday. The Australian dollar rose above the 60-cent mark and extended its gains […]

Oil prices rally amid decline in crude supply

Oil prices rally amid decline in crude supply Oil prices maintained gains on Asian markets on Wednesday following the report of the American Petroleum Institute (API) on a decline in U.S. crude supply. International Brent Oil Futures went up by 3.46% to $28.09 by 10:12 PM ET (02:12 AM GMT) while U.S. Crude Oil WTI Futures […]

Gold prices maintain gains as Fed announces new measures

Gold prices continued its climb after the U.S. Federal Reserve announced on Monday new measures in a bid to shore up an economy affected by the coronavirus. In the unexpected announcement, the Central Bank said that it would be buying an infinite amount of Treasury and mortgage-backed securities in order to lower borrowing costs. In […]

Gold prices recover from losses as U.S. Dollar drops from record highs

Gold prices surged up in Asian markets on Monday morning amid a weakening U.S. Dollar, recovering the yellow metal from a streak of losses last week. Gold Futures had momentarily surpassed the $1,500 mark with an opening of $1,506.15 per ounce before it settled at $1,490.45 by 9:22 PM ET (1:22 GMT). Gold has once […]

Peru reduces interest rate to ease COVID-19 impact

Peru’s central bank decided to reduce 1.25% interest rate on Thursday from the initial 2.25%. Such scheme was aimed at relieving Peru’s economy from the drag brought by the novel coronavirus contagion. The said reduction immediately followed after reports disclosed the very first death from the coronavirus. Statistics continued to bloat with additional 89 cases […]

US crude gains after White House says plans to intervene Saudi-Russia dispute

U.S. crude oil prices climbed on Friday, stretching its gains after the 24% rise on Thursday after President Donald Trump said that he might step in the price war between Russia and Saudi Arabia. U.S. crude and global benchmark Brent crashed 40% in the last two weeks since the production cut agreed by the OPEC+ […]

Gold drops out of its $1,600 support as investors sell to cover losses

Gold fell off its key $1,600 gain on Thursday after investors had sold off their positions in the precious metal in a panicked rush to save themselves from losses on Wall Street.   Gold Futures in New York’s COMEX fell by 3.2% ($52.10) at $1,589.30 an ounce. In a session, intraday prices fell by a […]

Dollar continues its climb as panic grows over piling virus fears

The U.S. Dollar continued to climb against most major currencies on Thursday as a virus-driven impact on market volatility and tensing liquidity sent investors retreating to cash. The British Pound, against the Greenback drifted near its lowest since 1985. Meanwhile, the Aussie slumped to 17-year low and the Kiwi plummeted to an 11-year low as […]

U.S. Fed rolls out third emergency program to ensure liquidity in money market mutual funds

U.S. Fed rolls out third emergency program to ensure liquidity in money market mutual funds The U.S. Federal Reserve on Wednesday announced its third emergency fiscal package to be introduced in two days. The credit program will offer loans to banks that offer as collateral assets bought from money market mutual funds. The newly-established facility […]

Fed to roll out monetary easing to cushion economic damage of COVID-19

The Federal Reserve is planning to launch a massive rollout of monetary easing in the financial markets to combat the economic damage brought by the pandemic spread of the new coronavirus. Investors’ fears seemed to have deepened by this move. Market investors see the monetary easing move as an indicator of how tremendous the economic […]

Oil erases gains, LCOc1 approaches week of inactivity

TOKYO- Oil declined for three consecutive days on Friday. Such inactivity was brought by investors’ anxiety over slump in oil demand mainly from coronavirus contagion. In line, the Brent and US crude are both on track for their sharpest weekly decline.                 Brent crude LCOc1 shed 47 cents, equivalent to 1.4%, and was quoted at […]

Global shares suffer as worldwide contagion rattles stock markets

SINGAPORE- Global shares declined the sharpest on Friday, putting an end to years-long upbeat performance as novel coronavirus contagion disrupted trading activities and left investors uncovered. An estimated five-hundred billion dollars in liquidity from the US Federal Reserve and an assurance of giving more were inadequate to ease the tension that has erased $14 trillion […]

Global markets plummet as U.S. suspends travel from Europe

Global markets plummeted immediately after U.S. President Donald Trump said that the United States have suspended all travels from Europe, excluding Britain, in an attempt to limit the spread of the virus. S&P 500 futures dropped by 3% with Japan’s Nikkei and Australia’s S&P/ASX 200 going lower than 4%. The report of the virus spreading […]

Stock markets drop as U.S. virus response brings about investors skepticism

Asian markets and Wall Street futures fell on Wednesday after details of Washington’s stimulus package made to combat the impact of the virus raised skepticism among investors. Wall Street futures fell by 2.2% while in Asia, the MSCI’s broadest index outside of Japan dipped down 0.29%. Australian shares fell by 2.02% with Japan’s Nikkei slipping […]

Malaysia’s Silicon Valley sees misfortune as virus outbreak disrupts China suppliers

Malaysia’s Silicon Valley sees misfortune as virus outbreak disrupts China suppliers Tech firms in Malaysia’s one-time Silicon Valley of the East saw its fortune flip after the coronavirus outbreak disrupted supply lines from China. This came after Malaysia found profitable circumstances last year when customers sought refuge after fleeing from China that was hit by […]

Japanese and European stocks plunge as Italy implements lockdown

Italy has shut down all its ports and airports, disrupting financial markets and showing how the coronavirus has affected social and economic aspects globally. Major European stock markets plunged over 7%, Japanese indexes slipped 5%, and US markets lost more than 7% after Saudi Arabia started an oil price war with Russia, causing investors to […]

Japan commodity spending falls amid coronavirus spread

Weak private spending extended to its fourth month in Japan’s struggling economy after a sales tax hike and unusually warm winter kept people from spending. Adding the recent virus outbreak, firms latch on to measures to keep business up. Japan has implemented measures to soften the impact on production and exports caused by global health […]

U.S. Congress approves $8.3 billion bill to combat coronavirus

The U.S. Senate passed an $8.3-billion bill and sent it to President Donald Trump in an effort in aiding state and local governments to fight the spreading of the coronavirus. The bill, which was initially approved on Wednesday by the House of Representatives, is now expected to be signed into law where the funding would […]

U.S. House approves $8.3 billion bill to combat virus outbreak

The U.S. House of Representatives approved an $8.3 billion bill in an effort to contain the outbreak of the coronavirus and commence the developing of vaccines. The bill, which was passed on Wednesday, will be sent for final approval to the Senate where a vote is due Thursday. The bill was overwhelming in favor, voting […]

Home prices in Hong Kong plunge for two consecutive months in January

Private home prices in Hong Kong declined for the second consecutive month in January, with a 0.2% dip as coronavirus outbreak hounds the property and real estate sector that has not fully recuperated from the previous burden brought by the mass protest in 2019. In December, home prices by 1.6% while 4.7% difference in sales […]

Oil prices drop further; sets to hit sharpest fall in four years

SINGAPORE- Oil prices recorded six consecutive days of decline, its weakest weekly performance in more than four years. Such drop was heavily brought by the fast-paced spread of the novel coronavirus which sparked concerns that the possibility of pandemic may directly affect oil demand. Investors grew wary that the continuous spread of the disease which […]

South Korea keeps rates steady despite coronavirus risks

The Central Bank of South Korea kept its rates steady and unmoved on Thursday, killing hopes for monetary easing, despite the glaring coronavirus risks as it continues to spread in the country, threatening to hurt the fourth-largest economy in Asia. The base rate of the policy board of the Bank of Korea remained at 1.25%. […]

Hong Kong banks suffer poor asset quality, loan growth due to coronavirus risks

Banks in Hong Kong are faced with two quarters of slow loan growth and declining asset quality due to the coronavirus outbreak’s impact on consumer banking. The Asian financial hub, including HSBC and Standard Chartered, are experiencing low demand for mortgages, corporate loans, and credit card usage. Hong Kong has its biggest exposure to China […]

Hong Kong announces $15.4 billion relief package to boost economy

Hong Kong announces $15.4 billion relief package to boost economy Hong Kong Financial Secretary Paul Chan announced on Wednesday a HK$120 billion ($15.4 billion) relief package in an attempt to bolster the country’s economy amid the coronavirus outbreak and civil unrest. Chan’s annual budget featured a handout of HK$ 10,000 ($1,300) to each permanent resident […]

Thailand reports worse-than-expected January factory output, down by 4.6%

Thailand reports worse-than-expected January factory output, down by 4.6% Thailand reported its manufacturing production index (MPI) for January which dropped sharply for a ninth-straight month. The country’s PMI, which slid 4.59% lower from a year earlier, was a result of a decrease in the production of automobiles, sugar, and palm oil, according to the ministry […]

Oil recuperates but lurking nCoV anxiety restricts earnings

TOKYO- Oil recovered from underperformance as investors sought safety in bargains after crude prices lost 4% in previous trading session. However, lurking fears that larger coronavirus contagion could inflict more damage to economy restricts oil activity. Brent crude added 29 cents, equivalent to 0.5%, and last stood at $56.59 per barrel by 0212 GMT. The […]

Japan assails U.S. digital tax proposal during G20

Japan, represented by Finance Minister Taro Aso, assailed the tax reform proposal presented by the United States saying that it could compromise or disable global efforts to agree on new rules in imposing taxes on huge tech firms. The finance leaders of the Group of 20 (G20) major economies of the world are campaigning a […]

: EU leaders to lock horns over budget issues as Brexit leaves huge budget void

European Union leaders will have to figure by themselves the surfacing budget issues they now inevitably face as Britain formally left the bloc in January. The void is in the bloc’s 2021-2027 finances, with Britain plucking out a whopping 75 billion euro ($81 billion) budget from the EU. The coming seven-year budget plan covering the […]

New York Fed: U.S. shoppers suspect spending growth slowdown

The Federal Reserve Bank of New York said on Tuesday that American consumers are anticipating their household spending to inflate more slowly over the next twelve months. The median forecast yielded an overall 2.3% increase for household spending among U.S. citizens over the next financial year as of December. This is relatively lower from the […]

Thailand GDP growth lower than forecast, says central bank

Thailand’s economy will grow at a slower pace than previously predicted and lower than its potential, according to the Central bank’s minutes of the meeting. The Central Bank has already cut interest rates to record low due to the increasing risks of the virus outbreak, delayed government spending, and drought. The monetary policy committee opted […]

Japanese exports, core machinery orders decline amid coronavirus risks

Japanese machinery orders fell at the fastest pace since 2018, while exports declined for its 14th straight month as Japan’s economy struggled against the impact of the recent sales tax hike and the novel coronavirus outbreak. Exports declined by 2.6% in January compared to the previous year, smaller than a 6.9% decline predicted by analysts. […]

Oil advances but nCoV economic impact restricts gains

TOKYO- Oil prices recorded a well-ended session on Wednesday. However, it remained neutral as gains were restricted by the growing damage of the coronavirus contagion which originated from China.  In line with this, a decrease in new cases was recorded in Hubei, the center of the outbreak. Brent crude LCOc1 added 6 cents and last […]

South Korea president pledges steps for virus-hit economy, rate cut expectations boosts

South Korea president pledges steps for virus-hit economy, rate cut expectations boosts South Korea’s President Moon Jae-in said on Tuesday that the government would be making a full-scale push to soften the economic blow from the fast-spreading coronavirus. The comment increased expectations of further monetary easing. The outbreak of the virus disrupted world supply chains […]

Indonesia posts larger than expected trade deficit as declining export prices affects trade

Indonesia posts larger than expected trade deficit as declining export prices affects trade Indonesia’s trade gap widened sharply in January as falling metal prices weighed on exports. The data was posted on Monday from the country’s statistics bureau. Southeast Asia’s largest economy showed a trade deficit of $870 million in January compared to the expectations […]

Oil prices ease on weekly gain as hopes for OPEC+ emergency meeting fades

Oil prices eased after seeing its biggest weekly gain since September as hopes for an OPEC+ emergency conference on the coronavirus faded. Despite Saudi Arabia pushing for a meeting scheduled this month, OPEC+ are expected to hold the conference in March after Russia recoiled from the plan. Meanwhile China, Hong Kong, and Singapore have promised […]

Euro slips on weak economic growth, yen stable despite weak Japan GDP

The euro slipped on Monday as Europe’s economic growth weakened amid concerns raised by financial markets and policymakers on the coronavirus outbreak in China. The euro closed at $1.0817 on Friday, hitting a 33-month low. It went up $1.08385 on Monday’s early Asian trade. The German economy was stable in the fourth quarter due to […]

British consumers brace for inconvenient shopping sans clear post-Brexit trade deal

British shoppers will have to face a tougher market situation by getting relatively higher prices and reduced supply of goods if the Boris Johnson-led British government won’t be able to iron things out with the European Union on regulatory checks at ports in post-Brexit agreement, the British Retail Consortium (BRC) said on Monday. The United […]

Honda to resume auto production in China plants on February 21

Honda to resume auto production in China plants on February 21 Honda Motor Co. said on Friday that it is planning to resume operations in its auto-manufacturing plant in Wuhan, China on February 21. The planned operations schedule was delayed a week ago. Honda, currently Japan’s third-largest manufacturer of automobiles and auto parts, said that […]

Stocks climb as market appetite improves over lowest reported new virus cases

Global equity markets reached new highs as China reported the lowest new cases in two weeks. Investors hope for a shift in the market as Chinese medical adviser says virus can be contained in a few months. Total confirmed cases rose to 44,653, with 2,015 new cases reported, the lowest since Jan. 30. The report […]

Oil maintains momentum as virus concerns may lead to deeper output cuts

SEOUL- Oil prices continued to advance for three consecutive days. Such upbeat activity followed after market sentiment boosted on expectations that primary oil manufacturers will implement deeper output reduction to recuperate from slump in demand brought by coronavirus contagion in China, the world’s second-biggest oil importer. Brent crude LCOc1 added 17 cents, equivalent to 0.3%, […]

Samsung revs up, introduces 5G Galaxy S20 to counter rivals Apple, Huawei

Samsung Electronics introduces its latest smartphone innovation, flaunts a foldable phone with a 5G mobile network to intensify fierce competition with mobile companies, Apple and Huawei on Tuesday. Samsung is out to maintain its status as the biggest global phone company as it introduces its latest offering, Galaxy s20, a smartphone that sports a 5G […]

China GDP growth could decline by 1% amid coronavirus spread, says government researcher

The coronavirus outbreak in China could cut the country’s economic growth by 1% in 2020, said Zeng Gang, a Chinese government think tank senior member. The vice chair of the National Institute for Finance and Development cited the 2003 SARS epidemic where China’s growth dropped by 2%, in comparison to the Wuhan virus. “At present, […]

Asian shares recover, China factories set to reoperate

SYDNEY- Asian share markets performed positively on Tuesday, following Wall Street upbeat activity.  However, concerns still lurk about China factories’ decision of reopening as the novel coronavirus contagion spreads in a larger scope and death record continues to grow. Mainland China’s coronavirus death toll hit more than 1000 cases and surpassed the 800 victims of […]

Oil advances but investors remain cautious over China virus

SINGAPORE- Oil prices clocked in more than 1% on Tuesday as previous declines urged short position investors to take profit. However, market sentiment dwindled due to novel coronavirus that is responsible for the death of more than 1,000 individuals in China. Brent crude LCOc1 inched up 1.5%, equivalent to 79 cents, and was quoted at […]

Wall Street futures slip as coronavirus death toll exceeds 900

US stock futures slipped as the coronavirus outbreak in China reported a death toll higher than the SARS epidemic. Authorities prepare measures as millions return to work after the extended Lunar New Year holidays. Investors cautiously monitor virus concerns that has impacted global economy and pushed Wall Street lower. China reported 97 new additional deaths, […]

China’s inflation rate rises following Lunar New Year and virus outbreak

China’s inflation rate rises following Lunar New Year and virus outbreak China’s consumer prices increased at is fastest pace in more than eight years in January, according to official data released by the National Bureau of Statistics (NBS) on Monday. The consumer price index CPI) came in at 5.4% last month on-year which went higher […]

Wall Street stands on record highs as virus’ impact concerns subside

Wall Street stands on record highs as virus’ impact concerns subside Wall Street gained record highs on Thursday as traders cast aside piling concerns on the coronavirus spreading in China. The Nasdaq Composite climbed 0.67% while the S&P 500 went up 0.33%. Meanwhile, the Dow Jones Industrial Average was 0.3%, marking all 3 major averages […]

Philippine Central Bank Governor hints mid-year monetary easing

Benjamin Diokno, the top official of the Philippine’s central bank, bared that he was considering having the next monetary easing via an interest-rate cut “sometime in the middle of the year.” “With another rate cut yesterday, we still have a   lot of monetary space,” Diokno said. On   Thursday, the central bank cut its benchmark rate […]

Oil advances after Russia supports supply reduction on virus contagion

Oil prices soared on Friday after Russia sided with a recommendation for OPEC and other oil associates to further reduce oil outputs amid dwindling demand for crude as China struggles to combat coronavirus that has impacted global markets. Brent crude futures increased 34 cents, equivalent to 0.6%, to $55.27 per barrel at exactly 0250 GMT. […]

Dollar stands strong with support from domestic data and virus optimism

Dollar stands strong with support from domestic data and virus optimism The U.S. Dollar stood strong on Thursday after gaining support from firm domestic data and an optimistic viewpoint that the coronavirus’ impact on the economy would slow down. Amid reports of the virus infecting more than 28,018 people and raising the death toll to […]

Oil maintains upward momentum amid upbeat market sentiment over China virus

Oil futures advanced on Thursday continuing its positive performance the previous day. Such activity was brought by upbeat investor sentiment over the possible advances against the virus contagion in China, expecting that this will boost fuel demand in the world’s largest oil importer. Brent futures advanced by 98 cents, equivalent to 1.8%, to $56.26 per […]

Australia central bank weighs risks to extend rate cuts

The central bank of Australia is considering to lessen monetary policy and cut interest rates if unemployment rate increased and inflation stalled. Unemployment rate decreased to 5.1% in December while inflation rose in the final quarter of 2019, showing that lowering rates was not urgent. The Reserve Bank of Australia cut its cash rate thrice […]

Tesla surges 20%, gets boost from Panasonic’s quarterly profit increase

Tesla posted its one of the largest one-day gains, up by 20% on Monday trade after getting a lift from Panasonic’s quarterly profit report. The appointment of Elon Musk as the Chief Executive Officer made significant changes in the company’s quarterly profit performance, with Tesla rallying by more than 30% in its second quarterly profit […]

China’s industry reports first profit decline in 4 years

China’s industry reports first profit decline in 4 years China’s industrial firms on Monday posted their first annual decline in profits in four years in 2019. The decline has been attributed to the country’s slowest economic growth in almost 30 years and the prolonged trade war it had with the United States. Official data showed […]

Louis Vuitton opens new restaurant and flagship store in Japan

Louis Vuitton launched its new business venture by opening its Osaka-based store in Japan, featuring a restaurant and café named Le Café V and Sugalabo V as its new flagship store. The Louis Vuitton Maison Osaka Midosuji is a high-end eatery. Its menus were curated by chef Yosuke “Suga” Sugalabo, a well-known restaurant owner in […]

US stocks indexes rebound after Tuesday’s big drop

US stocks indexes rebound after Tuesday’s big drop US Stocks closed on a higher note on Wall Street Tuesday, recovering from a sharp drop in the market the day before. The rebound ended the 5-day losing streak of the Dow Jones Industrial Average which was impacted by investor concerns of the new China virus that […]

Australian employment rate outpaces forecasts, analysts throw in the towel on February rate cut

Australian employment rate outpaces forecasts, analysts throw in the towel on February rate cut Australian employment outpaced forecasts for a second month in December pushing the unemployment rate to a nine-month low – a much-needed statistic for analysts that speculated a near-term cut in interest rates. The Aussie Dollar climbed 0.47% to $0.6874 as the […]

Indonesia central bank to continue accommodative policy to boost monetary growth

Indonesia central bank to continue accommodative policy to boost monetary growth Indonesia’s central bank plans to maintain its accommodative monetary policy this year to support economic growth, said Bank Indonesia Governor Perry Warjiyo on Wednesday. “All Bank Indonesia’s policy instruments are focused on keeping and strengthening the economic growth momentum,” Warjiyo told a news conference. […]

Argentina swaps $1.66 billion Treasury bills to push back debt repayment

Argentinian economy ministry said that it exchanged 99.6 billion pesos ($1.66 billion) Treasury bills in a debt swap auction to postpone its repayment schedule amid an economic crisis. The ministry conducted an auction for two new peso-denominated bills to holders of five older instruments, with which the government has near-term repayments in February adding up […]

Oil prices rise as Libya shuts down crude production

Oil prices rise as Libya shuts down crude production Oil prices soar to its highest in more than a week on Monday after Libya began halting operations on two of its major production bases through military blockades, potentially reducing national output to a fraction.   Brent crude went up by 0.5% to $65.20 after having […]

China will boost purchase of US imports according to ‘market principles’

China will push negotiations with American companies in raising US importation of goods and products with consideration to market principles, said an official with state planner. Spokesperson for the Chinese National Development and Reform Commission (NDRC) Meng Wei said at a press con that the US has high quality supply of energy, agricultural products, financial […]

Oil price hikes as Libyan oilfields shutdown trickles production

Oil prices hiked as two major crude production in Libya shut down due to a military blockade, causing oil flow to slow down. Brent crude LCOc1 futures rose 1.25%, or 75 cents, at $65.60 by 0109 GMT, earlier rising to $66.00 a barrel, its highest since Jan. 9. West Texas Intermediate CLcl contract rose 1%, […]

China’s 2019 pork production hits 16-year low due to swine flu

BEIJING-China’s 2019 pork production sunk to 16 years of inactivity, data showed on Friday as the African swine influenza dispatched millions of pigs in world’s leading producer of pork. China tallied 42.44 million tonnes of pork last year, lower than the 21.3% record from 2018 and the lowest production for the last 16 years beginning […]

European car sales recover 21.4% in December

European car sales recovered for the fourth straight month, raised by higher demands of premium and volume cars, ACEA said. New car registrations climbed 21.4%, or 1,261,742 vehicles in the EU and EFTA countries in December, statistics showed. The rise was partially caused by a low base of comparison with December 2018, when anti-emission laws […]

Toyota to invest $394 million in air-taxi startup

Toyota to invest $394 million in air-taxi startup Japan-based Toyota Motor Corp is investing $394 million in Joby Aviation, a U.S.-based air-taxi startup. The startup has reportedly spent the last ten years designing an electric air-taxi prototype. Toyota is the lead investor in Joby’s Series C funding costing up to $590 million, according to Bloomberg. […]

China adds $58 billion into banking system as Lunar New Year draws near

China adds $58 billion into banking system as Lunar New Year draws near China added liquidity to the financial system on Wednesday in attempts to offset a money shortage ahead of the Lunar New Year holiday. Interest rates on the loans were left unchanged. The People’s Bank of China added 300 billion Yuan ($44 billion) […]

Oil inches down on concern that Sino-US trade pact may not stimulate demands

SINGAPORE-Oil prices retreated on Wednesday brought heavily by emerging concern that the ‘phase one’ of the Sino-US trade deal may not promote demands.  Such was from the decision of the US to retain rounds of tariffs on Chinese products.                 On a statement last Tuesday, US Treasury Secretary Steven Mnuchin said that the imposed tariffs […]

China’s December exports beat forecast as trade war eases

Chinese exports climbed 7.6% in December compared to a year earlier, as shown by customs data on Tuesday. The recovery in export demands was attributed to the preliminary trade deal agreed upon by China and United States, as further de-escalation of the longstanding tariff war is expected. The recovery was the first since July 2019 […]

Oil prices sink deeper as Mideast tensions ease

TOKYO-Oil prices continued its underperformance as the possibility of war in Middle East abated and investors focused on economic growth together with increase in US crude oil and output inventories. Brent crude oil LCOc1 decreased by 20 cents, equivalent to 0.3% at $65.17 by 0240 GMT. Such is expected to hit its first setback in […]

Asian shares recover as Mideast tension alleviates, oil soars

SINGAPORE- Asian stocks bounced from inactivity on Thursday and oil prices inched higher as the United States and Iran both signaled resolution rather than to pursue further conflict. US President Donald Trump released a sanction overnight as retaliation to Iran’s recent attack against US troops. Iran remained silent and had given no indications of further […]

Oil climbs as Iran launches strike on US troops, market uneasy

Oil prices peaked in months after Iran attacked American troops on US bases in Iraq on the early hours of Wednesday. The missile attack was Iran’s response to the killing of its major general Qasem Soleimani, sparking a growing conflict and sending oil supplies into turmoil. But oil prices cooled down after the initial heat […]

Trump declares threat on Iranian cultural sites, warns of US ‘major retaliation’

U.S. President Donald Trump declared threats of attacking Iran’s cultural sites as the U.S. warns of “major retaliation” once Iran strikes back after the killing of one of its major generals, Qasem Soleimani. In Trump’s interview with reporters on Air Force One, the U.S. President raised threats of sanctions on Iraq as the Iraqi Parliament […]

Oil prices hike up on Middle East crisis and trade optimism

NEW YORK- Oil value increased on Thursday brought by emerging tensions in the Middle East and upbeat signals of US-China trade relations. However, secured dollar performance capped price earnings. Brent crude futures LCOc1 acquired 25 cents, equivalent to $66.25 per barrel while US West Texas Intermediate (WTI) crude CLc1 raked in 12 cents or $61.18. […]

Tim Hortons president Alex Macedo to step down next year

Tim Hortons president Alex Macedo to step down next year Alex Macedo, president of coffee and breakfast chain Tim Hortons will be stepping down from his position after two years of the role, according to Restaurant Brands International Inc (RBII) on Friday. Macedo said in a regulatory filing that he will be leaving the company […]

Amazon caps biggest holiday season sales ever

The U.S. economic growth seems to be still alive and kicking (despite major setbacks highlighted by the trade dispute against China) as Amazon posts a record-breaking holiday season sales thus far. Amazon reported its top-sellers this holiday season included the Echo Dot, Fire TV Stick and Echo Show 5.  Amazon’s third-party products helped to its […]

China to trim import tariffs on some products next year

China is set to trim down import tariffs on some goods including frozen pork, avocado, and semiconductors beginning January 1, 2020, according to the finance ministry as China bids to beef up imports amid slow economic growth and a trade dispute with the United States. The temporary import tariffs are relatively lower than the most-favored-nation […]

Oil prices inch down but fast approaching Sino-US trade deal curbs losses

TOKYO- Oil was marginally lower on Monday but did not stray far from its latest three-month peak. Upbeat activity was brought by positive headlines on United States and China’s possibility of signing the trade pact soon as US President Donald Trump said that the pact would be signed “very shortly”.                 Brent crude oil declined […]

Oil prices maintain momentum, head for three-month high on trade deal progress

Oil prices retained its positive performance as it drew nearer to achieving its three-month peak on Friday with upbeat weekly rise. Such positive performance was mainly from cooling tensions between Washington and Beijing’s trade truce that previously impacted demand and dragged global economic growth. Brent futures LCOc1 clocked in 5 cents, equivalent to 0.08% to […]

Economists boost China outlook on easing trade tensions

Economists boost China outlook on easing trade tensions China’s economic growth will show at 5.9% in 2020, according to analysts and traders. The forecast comes as easing trade tensions and the prospect of lower bank borrowing costs had boosted confidence. This comes as an upgrade from the November’s forecast of 5.8%, before the U.S. and […]

Dollar rallies on Trump impeachment, Aussie follows trend on strong jobs record

SYDNEY-US greenback rode smoothly on US President Donald Trump’s impeachment headlines as Australian peer recuperated from sharp fall due to country’s unemployment percentage. The British pound GBP=D3 was pressed by reemerging issues of Brexit as it was last quoted $1.3083 after sharp turn of 2% in consecutive days. Greenback traders remained optimistic following a landslide […]

U.S. Dollar slips on Trump’s impeachment news

U.S. Dollar falls on Trump’s impeachment news The U.S. Dollar dropped on Thursday in Asia after the U.S. House of Representatives voted to impeach Republican U.S. President Donald Trump for abuse of power and obstruction of Congress. The U.S. Dollar index slipped 0.1% to 96.925 by 11:30 PM ET (03:30 GMT). Trump is the third […]

Amazon boycotts FedEx as delivery method for selected Prime shipments

Amazon.com Inc (AMZN.O) blocked sellers from using FedEx Corp in handling Prime shipments as the company prioritized rapid delivery deadlines this holiday season. FedEx representative stated that the scheme will only impact minimum number of sellers but “limits the options for those small businesses on some of the highest-demand shipping days in history.” Amazon and […]

EUR/USD pressured by trade uncertainty

The currency pair, EUR/USD is trading beneath 1.11; it is consolidating its gains. Such has happened as there is tension borne out of the uncertainty regarding the U.S. tariffs being planned to be placed on China. Pressure is also being felt as U.S. inflation is rearing its ugly head alongside the all-important Fed decision. While […]

Tighter election poll makes GBP/USD pair apprehensive, consolidates losses around 1.3150

At present, the GBP/USD is trading below 1.3150. It has consolidated its losses after British polls revealed that the Conservative are in the lead for UK elections. Here are the important figures: POUND RATESGBP/USD 1.31 50 1/ 51 1-0.00384 (-0.29%)EUR/GBP 0.84 24 3/ 25 40.00126 (0.15%)GBP/JPY 142.94 70 0/ 20 0-0.49850 (-0.35%) Technical Analysis of […]

Japanese stocks suffer from anxiety brought by US tariffs implementation

TOKYO-Japanese shares inched down on Tuesday brought by threats of US tariffs on Chinese imports despite developments and positive commentary from Washington and Beijing’s trade talks. The Nikkei index plummeted down 0.18% to 23,388.92 at exactly 0157 GMT, as industrial and consumer discretionary sectors topped the decliner board. Both Washington and Beijing remained diplomatic as […]

GBP/USD on 7-month highs; Tories on the lead

The GBP/USD pair stands strong, as it retraces from the new seven-month highs of 1.3180. This came after polls revealed the Conservatives’ lead. Cable had reportedly dropped last Friday in the middle of positive U.S. data. Bulls can be kept happy in light of October highs near 1.3013 being the target and highs marked in […]

EU finance ministers agree Facebook’s Libra too risky

EU finance ministers agreed that Facebook’s Libra and other private digital currencies should not be allowed in the European Union unless the risks they pose are finally addressed. This confirms EU’s tough criticism of Libra, which was announced in June and has since been the talk of global regulators due to its possible impact on […]

Nissan to halt operations for two days in US unit next month

Japanese automaker Nissan Motor Co announced a two-day operations halt for its US unit next month, as the automaker alleviates the drop in profitability in the US. Nissan’s overall profits fell sharply this current fiscal year, affected by dropping sales in US and China as well as a stronger yen in the foreign exchange market. […]

Caltex Australia elicits higher bid by working with Canadian suitor

MELBOURNE- Caltex Australia’s top executives disclosed on Thursday their plan of coordinating with a Canadian suitor in high hopes of acquiring larger takeover offer. Such followed after the petrol pump and convenience store operator rejected suitor’s A$8.61 billion offer. Caltex Australia dismissed a takeover proposal by Canadian convenience store operator Alimentation Couche-Tard Inc as it […]

Nintendo Switch to launch in China

Nintendo is launching Switch in China as it joins forces with Tencent. However, Switch will have a tough road ahead as it faces gaming mobile phones as its competition. On Wednesday, Nintendo, in partnership with Tencent, announced that the Switch will be available in China starting December 10 at 2,099 yuan ($297).  Nintendo Switch will […]

Nintendo to officially launch Switch gaming console in China

Japan’s Nintendo Co will officially launch its Switch gaming console in mainland China for the price of 2,099 yuan or $298. The launch is set on Dec. 10 in partnership with Tencent Holdings Ltd., a Chinese internet-based platform company and the world’s biggest gaming company. A few days ahead of the launch, pre-orders have begun […]

Nikkei underperforms due to concerns of extended trade dispute

TOKYO- Japan’s Nikkei recorded lowest data in two weeks on Wednesday as market anxiety pressed due to US President Donald Trump’s remarks, while firmer yen dampened investors’ appetite. The Nikkei 225 index shed a total of 1.24% to 23, 089.21 as it tailed under its 25-day moving average of 23,253. “In some ways, I like […]

Thai shippers cut 2019 export forecast to fall 2.5%-3.0%

Thai shippers cut 2019 export forecast to fall 2.5%-3.0% Thailand’s shipping association on Tuesday lowered its 2019 export forecast for the year’s fifth time. With a forecasting drop of 2.5% and 3.0%, the prediction was made due to global trade tensions and a strong local currency. In October, the association forecasted an export decline of […]

Japan stocks hit highest level in a month on positive Chinese data

TOKYO- Japanese shares soared on Monday with most gains in a month following data disclosure that China’s factory activity and domestic demand recuperated, relieving worries about the health of world’s second-largest economy.   At 0150 GMT, the Nikkei index hit 1.02% to 25,531.85, brought heavily by industrial and consumer discretionary sectors’ earnings. The index reached […]

Oil prices steady on quiet Thanksgiving trade and next week’s OPEC+ meet

Oil prices were steady on Friday, with the US Thanksgiving holiday coming. Meanwhile, investors anticipate the OPEC meeting set to be on the first week of December as possibilities of extending the production cut may arise. Brent crude LCOcl dropped 5 cents, at $63.82 a barrel by 0103 GMT. It initially dropped 0.3% on Thursday. […]

Peru speeds up $29 billion infrastructure spending

Peru is set to cut excessive regulation on the $29 billion fund for infrastructure that is aimed at reviving the economy and inducing public investment, according to Peru’s economy ministry. The move is dedicated to speed up the construction on 52 “large-scale, public service-oriented projects, whose completion will reduce the infrastructure gap, as well as […]

Britain’s business services down, weakest in 8 years

Profits from professional and business services firms in the UK fell the lowest since 2011 for a second quarter running as businesses are also cutting down on investments, according to the Confederation of British Industry (CBI). CBI surveys have consistently showed a pessimistic outlook of the British economy as businesses face political uncertainties caused by […]

Apollo Global raises offer to $6 billion in Tech Data private deal

Apollo Global Management raises its offer to $6 billion to take over Tech Data private, according to the US information technology equipment distributor. The offered deal is worth $5.14 billion excluding debt, higher than Apollo’s previous offer of $4.77 billion. Tech Data shareholders will now receive $145 per share, compared to the initial $130 per […]

HP Inc reports higher PC sales, beats profit estimates

HP Inc reported its quarterly earnings, beating analyst estimates. Higher sales in personal computers and workstations countered the low sales of its printer business. Revenue from HP’s personal systems unit rose 3.6%, or $10.43 billion in the fourth quarter, beating analyst estimates of $10.29 billion. HP is the second largest PC maker after Lenovo Group […]

Asian shares gain stable ground as mood favors trade

Asian shares gain stable ground as mood favors trade Asian shares gained stable ground on Monday as Investors placed hopes for some progress on the Sino-U.S trade dispute. U.S. national security adviser Robert O’Brien said On Saturday that an initial trade agreement with China is still possible by the end of the year. However, he […]

Energy, mining sectors boost Australian shares up; NZ plunges

Nov. 22 Australian shares recorded a well-ended session on Friday enforced by gains in energy and mining stocks. However, worries dragged financial sector down following Goldman Sachs’ decision of cutting its target price on Westpac. Such met a lawsuit over financial violation. The S&P/ASX 200 index inched higher with 0.6% at 6,709.80 while recording its […]


TOKYO, Nov 21 – Japanese stocks suffered in three consecutive weeks as reemerging concerns about Sino-US trade pact signing and recently passed US legislation on Hong Kong directly impacted market condition. Nikkei shares shed 1.2% to 22,872.03, recording its lowest point since Nov. 1.as it was potentially set to hit its worst drop in seven […]


Australian financial institution, Tyro Payments released a prospectus on Monday planning to raise A$252.7 million ($173.23 million) for domestic initial public offering (IPO). Tyro’s scheme will push through even though six listings were previously declined last October. This came after investors demand lower prices to arm against the probability of post-float losses. The firm expressed […]