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 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 […]

Gold down as investors await Fed policy

Gold dropped on Thursday in Asia as investors continued to wait for signs on when the U.S. Federal Reserve would begin asset tapering. Gold futures inched down 0.05% to 11:34 PM ET (3:34 AM GMT). The yellow metal’s futures shed 0.6% on Wednesday, the largest one-day decline in a week. The Central Bank is expected […]

Dollar rises, investors raise doubts on Fed’s taper timeline

The dollar rose on Wednesday morning in Asia. Investors made small moves following doubts on the start of the United States’ Federal Reserve’s asset tapering this year. The U.S. Dollar Index that measures the greenback against other major currencies tallied an increase of 0.04% to 92.648 by 10:55 PM ET (2:55 AM GMT). The USD/JPY pair declined 0.03% to […]

Japan stocks rise for third straight day

Japanese stocks edged up for a third day, boosting the Nikkei 225  Stock Average to levels last reached during the country’s bubble economy over 30 years ago. Fanuc Corp. and KDDI Corp. were the chief contributors with a gain of as much as 1.1% in the Nikkei 225 during Tokyo’s morning trading. The blue-chip index […]

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 […]

Dollar rises as Fed taper timeline remains uncertain

The dollar extended its gain on Monday morning in Asia. Investors expressed doubts on the start of the United States’ Federal Reserve’s asset tapering due to the rising cases of COVID-19 infections globally. The U.S. Dollar Index that measures the greenback against other major currencies tallied an increase of 0.10% to 92.668 by 10:43 PM ET (2:43 […]

Oil up, nears $73 a barrel

Oil edged toward $73 a barrel on Friday, boosted by increasing indications of supply tightness in the U.S. due to Hurricane Ida and as the U.S.-China trade hopes gave riskier assets a lift. Around three-quarters of the entire U.S. Gulf’s offshore production, or about 1.4 million barrels per day, have remained offline since late August. […]

Japan exports seen to rise in August

Japan’s exports recorded a six-straight-month expansion in August. The growth was owed to a robust global demand for machinery goods and a contraction in a pandemic-hit economy last year. Exports were expected to climb to a six-month double-digit gain of 34.0%, based on a Reuters poll of analysts released on Friday.This was lower than a […]

Gold down but still above $1,800-mark over weak dollar

Gold dropped on Tuesday in Asia but stayed afloat atthe $1,800 mark amid a weakened dollar. Investors increased bets that the U.S. Federal Reserve would push back the start of asset tapering. Gold futures edged up 0.52% to $1,824.25 by 12:19 AM ET (4:19 AM GMT), following their climb to a two-and-a-half-month peak over a […]

Italy sees above 5.8% economic growth this year

Italy’s economy was expected to expand more than 5.8% this year with better-than-calculated deficit and debt ratios, according to Economy Minister Daniele Franco. Italy’s parliamentary budget watchdog (UPB) projected the economy to grow 5.8% in 2021. It was an improvement from April’s forecast of 4.5% growth this year and 4.8% in 2022. The country’s deficit-to-GDP […]

Oil down amid Saudi price slash, cloudy outlook

Oil prices fell on Monday in Asia amid Saudi Arabia’s crude price cut in the region and an uncertain fuel demand outlook. Brent oil futures shed plunged 1.06% to $71.84 by 11:50 PM ET (3:50 AM GMT). Crude oil West Texas Intermediate (WTI) futures plummeted 1.02% to $68.58, hovering below the $70 mark. Saudi Arabia’s […]

Asian shares on six-week peak

Asian shares hit six-week highs on Monday as the chances of extended low rates in the U.S. combined with talks of additional stimulus in China and Japan. A U.S. holiday set up thin conditions, but MSCI’s broadest index of Asia-Pacific shares outside Japan still gained 0.4% to the highest since late July. Japan’s Nikkei added […]

Dollar drops before U.S. jobs data release

The dollar fell to its lowest rate in almost a month on Friday morning in Asia. Investors are still waiting for the newest United States job report due today that will determine the timeline of the Federal Reserve’s asset tapering. The U.S. Dollar Index that measures the greenback against other major currencies tallied a crash of 0.04% […]

Gold up ahead of US jobs report

Gold rose on Friday in Asia, making small gains as the dollar continues to weaken. Investors now turn toward the latest US jobs report to look for clues on the US Federal Reserve’s timeline for asset tapering and interest rate hikes. Gold futures edged up 0.08% to $1,812.95 by 1:13 AM ET (5:13 AM GMT) […]

COVID-19 devastates Asia’s August factory activity

Asia’s factory activity slowed in August following a surge in COVID-19 cases that disrupted the supply chains across the region. The situation prompted fears that the declining industry may exacerbate economic troubles due to weak consumption. Manufacturing activity in Japan, South Korea, and Taiwan recorded relatively slow growth as productions continuously struggled with chip shortages […]

Gaming stocks drop after Beijing restrictions

Gaming stocks fell in China and Japan after Beijing reduced the amount of time children can spend playing online. China is the world’s largest gaming market. The Hang Seng Tech Index plunged 1.5%, pulled down by shares of Bilibili Inc. and NetEase Inc., which also fell in Hong Kong after losses in their American depositary […]

Gold up as dollar weakens, investors anticipate US data

Gold climbed up on Tuesday in Asia, boosted by a weakening dollar. Investors now turn to the latest US economic data, due later in the week, for clues on the US Federal Reserve’s timeline on asset tapering. Gold futures jumped 0.33% to $1,818.15 by 12:05 AM ET (4:05 AM GMT). The dollar, typically moving inversely […]

Oil fluctuates amid Ida onslaught

Oil stumbled from its gains on Monday, falling from an over three-week high reached earlier in the session. The black liquid declined as a powerful hurricane devastated the US Gulf coast, forcing the shutdown and evacuations of hundreds of offshore oil platforms. Brent edged up 0.4%, or 5 cents, at $72.75 a barrel by 0559 […]

Gold up after Fed’s dovish comments

Gold climbed up on Monday in Asia, lifted by US Fed Chairman Jerome Powell’s comment on Friday that put pressure on Treasury yields and the dollar. Gold futures jumped 0.29% to $1,824 by 9:15 PM ET (1:15 AM GMT). Powell spoke at the Jackson Hole symposium on Friday but did not specify when the Fed […]

India’s economy seen to expand at a record high in Q2

India’s economy is expected to mark a record-high expansion in the second quarter, owing to a weak base last year and a recovery in consumer expenditure. A Reuters poll of 41 economists conducted from August 20 to 25 showed an increase of 20.0% in  gross domestic product (GDP) from April to June period. This is […]

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 […]

Oil makes gains as FDA green lights vaccine

Oil prices climbed up on Tuesday following the US approval of a COVID-19 vaccine developed by Pfizer Inc. and BioNTech SE. The vaccine’s approval fanned investor hopes that increased fuel demand would follow a potential rise in the US vaccination rates. Brent crude oil futures rose 0.7%, or 46 cents, to $69.21 by 0648 GMT, […]

Thailand’s July exports top expectation

Thailand’s exports exceeded projections in July. However, shipments in August and September are seen to be hit by the country’s biggest COVID-19 surge, according to the commerce minister on Monday. Exports surged 20.27% in July from a year earlier after a 43.8% year-on-year rise in June. The growth was higher than economists’ expectation of a […]

Gold up, dampened by recovering dollar

Gold made a slight gain on Friday in Asia, as a recovering dollar somewhat took a bit of the luster from a recent rally in the safe-haven metal. Gold futures inched up 0.16% to $1,786.90 by 11:30 PM ET (3:20 AM GMT), and spot gold remained steady. The dollar index that keeps tally of the […]

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 […]

Japan exports continue to support fragile economic rebound

Japan’s exports recorded a double-digit expansion in five straight months mainly attributed to the shipments of automobiles to the United States. The country’s economy grew 1.3% in the second quarter due to strong exports and a surprising increase in private spending. Based on the data from the Ministry of Finance on Wednesday, exports climbed 37.0% […]

UK payrolls near pre-pandemic level, unemployment declines

The number of employees on British company payroll inched near its pre-pandemic level in July, while pay growth touched a record high despite some distortions caused by COVID-19 lockdowns. Based on the data released by the Office for National Statistics on Tuesday, payrolls climbed 182,000 to 28.9 million in July, just 201,000 short of the […]

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 […]

Strong exports to lift Taiwan’s 2021 economy

Taiwan will experience the fastest economic expansion in more than a decade in 2021, the statistics office said on Friday. The office revised its forecast following a recovery in exports of the tech-heavyweight island. Gross domestic product (GDP) was projected to climb 5.88% this year, the fastest since a 10.25% growth in 2010. The figure […]

Japan stocks higher after close, boosted by sectors’ gains

Japanese stocks were higher after Wednesday’s close, as gains made in the Paper & Pulp, Railway & Bus, and Real Estate sectors helped lift shares. At Tokyo’s close, the Nikkei 225 made a 0.65% gain. Among the Nikkei 225’s best performers of the session is Toho Zinc Co., Ltd., which went up 12.69% or 237.0 […]

Gold makes gains, held back by dollar, early tapering bets

Gold climbed up in Asia on Tuesday but stayed near multi-month lows. The yellow metal’s gains were capped by a strengthening dollar and increasing bets that the US Fed will begin asset tapering earlier than expected. Gold futures made a 0.68% gain to $1,738.25 by 12:05 AM ET (4:05 AM GMT), following their lowest since […]

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 […]

Indonesia launches website for smoother business permit process

Indonesia introduced on Monday what it considered an important milestone in reforms with a website that processes investment permits. The launch was aimed at doing business easier and quicker in the country. President Joko Widodo committed to solve issues in red tape, rigid labor laws, and poor infrastructure to compete with Vietnam and Thailand in […]

China-U.S. container shipping prices surge

Container shipping rates from China to the United States reached new highs above $20,000 per 40-foot box. The rise was owed to the growing retailer orders, which adds pressure to the global supply chain before the peak of the U.S. shopping season. The spot price per container on the China-U.S. East coast route jumped over 500% […]

Asian stocks down as investors anticipate latest US data

Stocks in Asia Pacific dropped on Friday, while US counterparts closed the previous session on a record due to strong earnings. Meanwhile, worries about surges in COVID-19 cases worldwide have somewhat eased. In Japan, the Nikkei 225 edged up 0.05% by 10:33 PM ET (2:33 AM GMT), while shares in Nintendo Co. Ltd. dropped after […]

Shares in China’s e-cigarette firms drop

Shares in Chinese vaping firms fell on Thursday. The loss was owed to a state media’s report on minors purchasing e-cigarettes, which resulted in calls for a tougher crackdown of the products. The country prohibits their sales to minors. Huabao International Holdings Ltd tallied an 18% crash, while China Boton Group Co Ltd shed 4%. […]

China’s July private services sector records acceleration

China’s service sector accelerated in July despite economic threats from the newest wave of COVID-19 outbreaks in the country. The Caixin services purchasing managers’ index (PMI) climbed 54.9 in July from June’s 50.3. It was at the highest peak since May 2021. A figure higher than the 50 mark suggests economic growth. The acceleration in […]

Asian stocks fall as Delta strain dampens investor mood

Asian stocks took a tumble on Tuesday morning, as a surge of the coronavirus’ Delta variant in the region’s major markets left a negative impact on investors’ risk sentiment. Japan’s Nikkei 225 went down 0.91% by 10:47 PM ET (2:47 AM GMT). Data released earlier in the day revealed a 0.1% year-on-year growth of the […]

Gold down ahead of US jobs report

Gold fell in Asia on Tuesday as investors continue to wait on the latest US jobs report. The data from the report could provide investors with insights on the Fed’s next policy move. Gold futures dropped 0.49% to $1,813.35 by 1:15 AM ET (5:15 AM GMT), but still managed to hover above the $1,800 mark. […]

Oil down amid virus concerns, sluggish manufacturing

Oil dropped in Asia on Tuesday as COVID-19 worries and declining manufacturing activity in the US and China clouded fuel demand outlook. Brent oil futures went down 0.11% to $72.81 by 12:47 AM ET (4:47 AM GMT), while WTI futures fell 0.10% to $71.19. Both futures have experienced an over 3% drop on Monday but […]

Oil down amid China’s sluggish recovery, OPEC+ supply boost

Oil dropped in Asia on Monday morning amid concerns over China’s slow economic recovery. China is the world’s second-largest oil consumer. Investors have also been looking ahead to the Organization of the Petroleum Exporting Countries and allies (OPEC+) boosting its oil production. Brent oil futures went down 1.05% to $74.62 by 1:12 AM ET (5:12 […]

Dollar drops, investors focus on key payrolls data

The dollar opened the trading week with a weak performance on Monday. It placed above a one-month low in tight trading ranges before the release of the United States’ employment data that could affect Federal Reserve policy. The Dollar Index that measures the greenback against other major currencies tallied a 0.1% crash to 92.102, marginally […]

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 […]

Heathrow urges Britain to open up travel after sluggish recovery

London’s Heathrow Airport called for Britain to allow vaccinated passengers to travel after trailing behind Europe in recovering from the coronavirus pandemic with losses amounting to $4 billion. The airport that used to be Europe’s busiest saw less than four million travelers in the first six months of 2021, a record that can be surpassed in […]

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 […]

Oil steady, above $71 amid tighter market outlook

Oil remained steady and held the bulk of a three-day advance, trading above $71 as confidence that the increasing demand will tighten the global market takes hold. West Texas Intermediate dropped 0.3% in early Asian trading, putting a stop to its over 8% rally in the previous three sessions. The previous sessions’ gains mean that […]

Gold down, hampered by strengthening dollar, investor risk appetite

Gold dropped on Thursday morning in Asia, hovering near a one-week low. A recovering dollar and investors’ increased risk appetite both factored in lessening the safe-haven asset’s appeal to investors. Gold futures dipped 0.20% to $1,799.00 by 1:21 AM ET (5:21 AM GMT) after dropping to its lowest level since July 12 in the last […]

Gold up as COVID-19 concerns mount

Gold rose on Tuesday morning in Asia as worries about the COVID-19 Delta variant outbreak in various countries gave the yellow metal’s value a lift. Gold futures climbed up 0.51% to $1,818.50 by 1:05 PM ET (5:05 AM GMT) following its one-week low of $1,794.06 in the last session. The dollar, typically moving inversely to […]

BOJ announces growth forecast cuts, climate scheme outline

The Bank of Japan announced on Friday a forecast cut in this year’s fiscal growth. However, the central bank remained firm the economy would moderately recover, signaling a lack of change in monetary policy. The BOJ said it sees economic expansion at 3.8% in the current fiscal year ending in March 2022, lower than the […]

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 […]

Singapore economy seen to recover after Q2 slump

Singapore’s economy recorded a contraction in the second quarter, following a bout in new COVID-19 outbreaks. However, economists anticipate a quick rebound as global growth picks up and inoculation rates increase. Alex Holmes, economist at Capital Economics, expects gross domestic product (GDP) growth to achieve the government’s estimate this year of 4%-6%. The economy contracted […]

Dollar rises as investors’ doubts on global economic rebound ease

The dollar rose on Monday morning in Asia, while risk currencies placed above recent lows against the dollar and the yen as investors’ concerns on a slow global economic rebound eased for now. The U.S. Dollar Index that measures the greenback against other major counterparts tallied a 0.03% increase to 92.148. The USD/JPY pair rose 0.01% to […]

Japan’s households, firms on saving spree as pandemic impact lingers

Japan’s currency hit a four-month record high in June, the central bank’s data showed on Friday, following a saving spree of households and companies uncertain of the country’s economic status amid lingering pandemic impact.  Japan is trailing behind other major economies in recovering from the COVID-19’s blow. The country’s weak consumption is expected to worsen […]

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 […]

Asian stocks continue to drop as China’s tech crackdown widens

Asian stocks traded weakly on Thursday hitting a six-week low as China’s tech crackdown forced investors to give up their companies. The country’s unexpected signal at monetary easing raised doubts on economic recovery strength. MSCI’s index of Asia shares outside Japan declined 1% to its lowest since late May. Meanwhile, Hang Seng recorded the biggest […]

Oil uncertain as Saudi-UAE output feud continues

Oil stood ambiguous on Wednesday morning in Asia, but stayed afloat the $73 mark, as the output feud between Saudi Arabia and the United Arab Emirates (UAE) continued. The disagreement between the two Arab countries has delayed the Organization of the Petroleum Exporting Countries and allies’ (OPEC+) plans to increase output as the global demand […]

Asian Stocks record poor performance following China’s tech company crackdown

Asian share markets performed poorly on Wednesday while a bout to avert risk ramped up bonds and the dollar. Investors prepare for the minutes from the Federal Reserve’s last meeting that could offer hints on a hawkish shift in the U.S. monetary policy. Dealers were eager to find the reason behind the sudden mood swing […]

Oil rises despite OPEC+ disharmony

Oil rose on Tuesday morning in Asia amid the Organization of the Petroleum Exporting Countries and allies’ (OPEC+) failure to reach a consensus to increase fuel output in August after days of deliberation. Brent oil futures inched up 0.38% to $77.45 by 10:19 PM ET (2:19 AM GMT) while WTI futures flew 2.06% to $76.72. […]

Dollar falls, U.S. job report eases interest rate hike concerns

The dollar fell on Monday morning as the latest U.S. employment report soothed worries on earlier-than-expected hike in U.S. interest rates. The U.S. Dollar Index, which measures the greenback against a basket of other counterparts, dropped 0.10% to 92.325. The USD/JPY pair notched up 0.09% to 111.15, with Japan’s services PMI for June at a […]

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 […]

Asian stocks decline as Covid variant fears rise

Asia Pacific stocks recorded poor performance on Monday morning as fears of a more contagious Delta COVID-19 variant grow while central banks consider stimulus measure removal. Japan’s Nikkei 225 experienced a drop of 0.15% while South Korea’s KOSPI traded 0.26% lower. Sydney Australia’s ASX 200 recorded a 0.17% drop while dealing with its latest Delta […]


China’s central bank stated on Friday that it would decrease payment fees—including for bank account services, yuan settlement, and electronic banking—for small firms starting on September 30. China has constantly stated its continued support for small businesses and would continue targeted tax and fee cuts this year on account of the COVID-19 pandemic. Interbank ATM […]

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, […]

U.K. recovery expected to increase inflation above 3% by end of year, says bank

The Bank of England anticipates Britain’s economic recuperation to send a 3% rise in inflation by the end of year before falling back in 2022 as post-Covid economic growth drops. Policymakers on Threadneedle Street’s monetary policy committee (MPC) said the Bank’s base rate should stay at 0.1% pending economic outlook certainty. The committee’s June report […]

Britain mulls vaccine passports to reopen international travel

Britain is now looking at easing travel restrictions by allowing entry to travelers who are vaccinated with COVID-19 vaccines twice, rehashing the vaccine passports proposal anew. Member countries of the European Union agreed last week to an easing of travel restrictions over summer that will allow fully vaccinated tourists to avoid tests or quarantines and […]

European shares hover near record high

European shares hovered near their record high on Wednesday, with financial and industrial stocks doing the heavy lifting. However, the main equity index held off record highs on concerns that the U.S. Federal Reserve could flag later in the day when it plans to start handing down its stimulus. The pan-European STOXX 600 gained 0.2%. […]

U.S. retail sales ease as spending swivels to services

The United States monitored a contraction in its retail sales in May, plunging more than what was expected as spending rotated to the services sector. This was owed mainly to rapid vaccine rollouts, which boosted the country’s travel and tourism sectors. Retail sales recorded a 1.3% decline in May, but they still posted an annualized […]

U.S. consumers set higher inflation, labor market outlook

Consumers in the United States were optimistic to see an economic expansion next year. More so, they had set higher forecasts for inflation, home prices, earnings, and employment in May, a monthly survey by the Federal Reserve of New York showed. A gauge of consumer confidence showed a 4% uptick, rising for seven consecutive months […]

Asian shares post mixed session as U.S. CPI breaches expectations

Asian share markets recorded a mixed performance during their early Friday trade. This followed after the United States rendered better-than-expected inflation data, with investors betting that the transitory nature of the pressure would keep the Federal Reserve’s monetary policy unchanged. Another wave of coronavirus infections might emerge in Japan with or without the Olympics, and […]

Asian shares advance on CPI-driven sentiment

Asian share markets made minimal earnings on Thursday. Investors were still cautious ahead of U.S. inflation figures, which could potentially drive the Federal Reserve to start an immediate talk about stimulus tapering.   MSCI’s broadest index of Asia-Pacific shares outside Japan secured 700.6 points, though still stagnant in the 698-712 point range it reached last […]

Asian shares gain as U.S. payrolls calm investors

Asian share markets were seen upbeat on Monday. Investors’ enthusiasm was supported by a rebound in U.S. payrolls, but the expansion came out mildly that it might still prompt the Federal Reserve to discuss the prospect of tapering. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.3% increase, on track to salvage three […]

Asian shares hit high grounds, gold rises

Asian share markets recorded an upbeat performance, while gold placed near a five-month through on Tuesday. The series of gains came ahead of European and U.S. data, which will render hints about the current status of the global economy. MSCI’s broadest index of Asia-Pacific shares outside Japan reached its strongest level in a month, securing […]

Asian factories gain tighter momentum, supply chain concerns drag outlook

Asia’s factory activity remained robust in May, and the expansion was owed mainly to an ongoing rebound in global demand. However, an increase in costs of raw materials and supply chain bottlenecks heavily dampened the region’s economic outlook. China and South Korea saw a minimal jump in their respective purchasing managers’ index (PMI). The readings […]

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 […]

Cryptocurrencies dip as bounce momentum recedes

Cryptocurrencies dipped on Thursday as their bounce momentum decelerated. However, the digital coins did not touch recent lows as investors’ outlook toward the digital assets remained positive, and that they are still capable of bouncing back from the previous week’s decline. Bitcoin lost 4% in Asia to about $37,600. Ether, the second-largest crypto, declined 7.5% […]

Asian shares advance as inflation worries ease

Wall Street’s overnight rally had sent Asian share markets to high grounds during their early Tuesday trade. Meanwhile, the dollar was seen near its four-month low as inflation-driven rate hikes dampened investors’ enthusiasm. After U.S. stocks’ minimal earnings, MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.81% to a two-week peak. Australian shares jumped […]

Bitcoin erases almost half of its all-time peak

Bitcoin, the world’s largest and most sought-after cryptoccurrency, dropped a total of 13% on Sunday. This followed after it encountered another selloff that erased nearly 50% of its all-time record high. Bitcoin was quoted $32,601 at 1800 GMT, shedding $4,899.54 during its closing session. Prior to this, it recorded a historic high of $64,895.22 on […]

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 […]

Asian shares advance on easing inflation fears

Asian share markets recorded a positive performance on Friday, putting the region on course for its weekly gain. Investors’ enthusiasm could be attributed to easing inflation fears and the prospect of an early tapering of stimulus by the Federal Reserve. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.6%, while Japan’s benchmark index Nikkei […]

Beijing’s market crackdown forecast causes China’s industrial commodities to slide

Thursday saw the tumbling of China’s main industrial commodities following the government’s announcement that it is stepping up measures to keep prices from soaring further on raw materials which are a threat to undermine the economic recovery of the country. The prices of iron ore and coking coal alongside other steel products like rebar and […]

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, […]

Oil climbs as U.S., Europe reopen economies

Oil prices rose on Tuesday as hopes for a strong fuel demand recovery after U.S. and European economic reopenings offset worries over increasing COVID-19 cases in Asia. Brent crude oil futures climbed 0.3%, or 19 cents, at $69.65 per barrel, while U.S. West Texas Intermediate crude rose 0.3%, or 18 cents, at $66.45 per barrel. […]

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 […]

Oil mixed in tight range, coronavirus restrictions weigh on sentiment

Oil prices were mixed, stuck in a tight range on Monday after the recovery of Colonial Pipeline’s operations eased worries over supply. However, new restrictions in Asia amid rising COVID-19 cases weighed on sentiment. Brent crude oil futures gained 3 cents to $68.74 per barrel, while U.S. West Texas Intermediate crude rose 0.1%, or 8 […]

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 […]

Asian shares recover on easing inflation fears

Asian share markets recovered on Friday, with Japanese shares performing the strongest. The jump could be attributed to investors’ enthusiasm over stocks that would highly benefit from a rebound across the globe. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.6% increase. Chinese blue chips hiked 0.1%, while Australian shares traded 0.7% higher. […]

Oil slides as U.S. gasoline stocks climb for a fifth week

Oil prices dropped on Thursday as U.S. gasoline stockpiles, the world’s biggest oil consumer, climbed for a fifth straight week. Still, a drawdown in crude inventories helped cap losses.  Brent crude oil futures were down 0.2%, or 16 cents, at $68.80 per barrel, while U.S. West Texas Intermediate crude futures lost 0.3%, or 20 cents, […]

Gold up ahead of U.S. job data release

Gold edged up in Asian trade on Thursday ahead of the release of U.S. non-farm payroll data, and the benchmark 10-year U.S. Treasury yield and the dollar also rose. Gold futures improved 0.27% to $1,789.15. The U.S. ADP Nonfarm Employment Change jumped to 742,000 in April, missing the expected growth figures. However, the growth was […]

U.S. service sector decelerates in April

The services industry of the United States posted a mild contraction in April. The deceleration could be attributed to shortages of inputs as the country’s large stimulus package and improving public environment boosted demand. The Institute for Supply Management’s non-manufacturing activity index was read at 62.7 in April. The reading placed lower than the 63.7 […]

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 […]

China posts upbeat factory activity; cost concerns pile

China’s manufacturing activity expanded in April, accelerating at the fastest pace in four months after the country saw an increase in demand. However, price hikes in raw materials and input costs dimmed the outlook. The Caixin/Markit Manufacturing Purchasing Managers’ Index was read at 51.9 in April. The reading reversed from an 11-month low of 50.6 […]

Dollar sits near multi-week lows on dovish Fed policy

The dollar hovered near nine-week lows on Thursday as a dovish outlook from the Federal Reserve and bold spending plans from the White House gave way for the global reflation trade.  President Joe Biden pushed for another $1.8 trillion in spending, risking expanding the U.S. budget and trade deficits, which could impact the dollar.  The […]

Nokia posts stronger-than-expected Q1 profit on higher 5g gear demand

Nokia posted a stronger-than-expected first-quarter revenue and profit as its 5g equipment’s demand peaked. Based on Refinitiv data, the Finnish telecom’s quarterly revenue improved 3% to 5.08 billion euros ($6.16 billion), surpassing a consensus figure of 4.72 billion. Since Lundmark’s takeover last year, the firm has streamlined its operation, slashed jobs, and made changes to […]

Dollar pins hopes on Fed, Biden to end month-long slump

The dollar rose on Wednesday as traders focused on the Fed’s policy statement and a speech by President Joe Biden later in the day, looking for hints at a recovery from a one-month slump. The dollar index traded at 91.004, recovering from a low of 90.679 hit on Monday, its lowest since March 3. The […]

HSBC profit soars 79% as inoculation programs fuel improved outlook

HSBC Holdings PLC released its quarterly profit figures on Tuesday, showing a stronger-than-expected output. The bank also released $400 million it had set aside to cover pandemic-induced bad loans, as successful inoculation programs in key markets sparked optimism for a brighter economic outlook. HSCB, Europe’s biggest bank by assets, posted profit before tax of $5.78 […]

SoKor’s Q1 GDP accelerates on upbeat investment, exports

South Korea posted a better-than-expected economic expansion in the first quarter. The jump extended the country’s export-driven recovery as the government maintained its support for struggling small businesses. The country’s gross domestic product (GDP) advanced a seasonally adjusted 1.6% in March as exports and facility investment jumped, the Bank of Korea said on Tuesday. The […]

U.S. stocks largely flat ahead of economic data and Fed meeting

U.S. stocks barely moved on Monday trade ahead of the report of key economic data and a Federal Reserve meeting this week. The Dow futures contract added 20 points or 0.1%. The S&P 500 Futures gained 4 points or 0.1%, lower. The Nasdaq Futures fell 44 points or 0.3%. This week, investors anticipate the corporate […]

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 […]

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% […]

Japan’s factory activity accelerates; virus measures weigh

Japan’s factory activity saw an expansion in April, growing at the fastest pace in more than three years. This came even after the possible reimplementation of coronavirus measures dampened the outlook for the world’s third-largest economy. The au Jibun Bank Flash Japan Manufacturing Purchasing Managers’ Index was seen at 53.3 in April. The seasonally adjusted […]

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 […]

Oil drops for second day as India’s COVID-19 surge to hit fuel demand

Oil prices dropped for a second day on Wednesday on worries that rising COVID-19 infections in India will lower fuel demand in the world’s third biggest oil importer. Brent crude futures for June lost 0.8%, or 52 cents, at $66.05 per barrel, following a 48-cent decline on Tuesday. U.S. West Texas Intermediate crude futures for […]

Asian shares decline on virus-driven concerns

Asian share markets and U.S. stock futures recorded a weak trading session on Wednesday. This followed after surging coronavirus cases in some countries dimmed the strength of global growth and dragged crude oil demand. MSCI’s broadest index of Asia-Pacific shares outside Japan tallied a 0.6% drop. Australian shares plunged 1.25%, while Chinese shares traded 0.46% […]

Dollar on defensive as yields drop from recent highs

The dollar hovered near a six-week low against its peers on Tuesday as the euro rallied amid an upbeat outlook for the region’s vaccination programme. The dollar had been losing traction as U.S. bond yields dropped below a 14-month high hit last month. The euro climbed to $1.2038 after hitting a six-week peak of $1.2048 […]

Mexican economy plunges deeper, outlook brightens

Mexico’s economy plunged yet again, marking another month of decline as it dropped more than 2% in March. While there was a contraction, analysts were still optimistic for a rebound in the coming months as the coronavirus crisis subsides and the United States’ relief package kicks in. The economy recorded a 2.1% contraction in March […]

Europe car sales up 63% in March

Car sales in Europe spiked in March, thriving despite virus constraints and making up for a dismal sales record last year. According to the European Automobile Manufacturers’ Association, new car registrations increased 63% for the month of March, erasing the early-year fall to leave sales up 0.9% for the quarter. ACEA furthered that March tends […]

Gold gains capped as better-than-expected U.S. economic data lift Treasury yields

Stronger-than-expected U.S. economic output capped gains of gold on Friday trade in Asia, with Treasury yields gaining from the positive data. Gold futures rose 0.19% to $1,763.45. The US dollar index futures surged on Friday, as it moves inversely to gold. Gold was poised to record its second consecutive weekly gain and end the week […]

Dollar steadies as strong data offsets lower yields

The dollar index was little changed on Thursday as traders balanced bullish data showing U.S. retail sales gained the most in 10 months in March, while U.S. Treasury yields continued their drop. Retail sales rose 9.8% last month, higher than analysts’ expectations for a 5.9% increase. However, the dollar’s strength slid as Treasury yields fell […]

U.S. import prices advance, inflation prospects heighten

Import prices in the United States advanced above expectations in March. The increase was mainly from upbeat petroleum prices and robust supply chains, indicating that the country’s inflation is gaining momentum as the economy reopens. After a 1.3% jump in February, import prices advanced higher with a 1.2% record in March. This marked the fifth […]

Oil climbs on upbeat China data, Mideast tension

Oil prices rose on Tuesday as data showed China’s consumer import growth rose and on Middle East tensions after the Yemen-based Houthi movement said it fired missiles on Saudi oil sites. Brent crude futures climbed 0.5%, or 31 cents, at $63.59 per barrel. U.S. West Intermediate crude oil futures rose 0.5%, or 28 cents, at […]

Rising U.S. Treasury yields and dollar push gold down

The firming dollar and the surging U.S. Treasury yields caused the gold to go down on Monday trade in Asia. Gold futures lowered 0.38% at $1738.25. Encouraging U.S. data released on Friday resulted in a big risk appetite among investors, turning away from the yellow metal. The producer price index for the month of March […]

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 […]

China’s factory gate prices accelerate on upbeat economic rebound

Factory gate prices in China accelerated above expectations in March, tallying the sharpest pace of growth since July 2018. The expansion was indicative of the country’s sustained economic recovery from the coronavirus pandemic.  China’s producer price index recorded a 4.4% increase, the National Bureau of Statistics said. The annualized reading came larger than the 3.5% […]

Gold slips as fed meeting minutes dissuade investors

Thursday’s trade session in Asia did not see gold luster as investors had a huge appetite for riskier assets. This as the Federal Reserve’s meeting showed sustained policy support which boosted hopes for the global economic recovery from the pandemic. Gold futures lost 0.9% at $1740.05. With the release of the Fed’s meeting minutes on […]

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 […]

US posts upbeat job openings in Feb
U.S. posts upbeat job openings in Feb

Job vacancies in the United States reached a two-year high in February while hiring accelerated as expedited coronavirus vaccine rollouts boosted domestic demand. More so, the country’s massive stimulus package heavily supported companies’ needs for more employees. Job openings, which gauge labor demand, jumped 268,000 to 7.4 million on the last day of February. The […]

Rising French Confidence lifts European stocks

Rising French consumer confidence pushed European stock markets to greater heights on Tuesday. Germany’s DAX was up 0.7%. France’s CAC 40 improved 0.8%. The U.K.’s FTSE index gained 0.7%. The upbeat performance in the European markets was due to French consumer confidence that soared in March. According to the INSEE stats agency, its monthly consumer […]

European stock futures tumble, as concerns of covid-19 cases surge weigh

The concern that the third wave of OCVID-19 cases will result in longer lockdowns in the European region feared investors, reflecting on Monday trade in European stock markets. Germany’s DAX future contract fell 0.6%. The FTSE 100 futures contract in the U.K. dropped 0.6% as well. On the lone bright spot was France’s CAC 40 […]

Oil prices recover ground on worries Suez blockage may take weeks to clear

Oil prices rose 1% on Friday on rising fears that the blockage in Suez Canal could take weeks to be cleared, which could squeeze refined products and crude supplies.  U.S. West Texas Intermediate crude climbed 1.1%, or 65 cents, at $59.21 per barrel after dropping 4.3% on Thursday.  Brent crude gained 0.9%, or 54 cents, […]

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 […]

Dollar extends four-month high as recovery outlooks diverge

The dollar hit a new four-month high against the euro on Thursday as the U.S. pandemic response outpaced Europe’s, with the latter hobbled by lockdowns and slow vaccine rollouts. The euro stood near a four-month low of $1.1809 hit in Asian trade. The dollar index lingered below a four-month peak of 92.617 hit overnight.  The […]

AstraZeneca posts 76% efficacy in latest U.S. trial

Based on the new analysis of its U.S. trial, AstraZeneca recorded a 76% efficacy rate, slightly lower in the previous efficacy outing reported this week which drew criticisms for using outdated data. Monday’s AstraZeneca data reported a 79% efficacy rate but excluded more recent COVID-19 cases, a case that saw U.S. health officials in outrage. […]

Asian shares fluctuate on China tech selloff

Asian share markets posted a turbulent trading session on Thursday. This followed after China saw a selloff in technology-related shares, with investors’ enthusiasm greatly affected by the country’s exclusion from U.S. bourses and a shortage in semiconductor supplies. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.1% increase. Shares in Hong Kong dropped […]

British inflation falls as clothing prices hit biggest annual drop since 2009

Figures released on Wednesday showed British inflation on a sudden drop in February as clothing prices hit their biggest annual drop since 2009, complemented by cheaper second-hand cars. A 0.4% decline was recorded in the month of February for the annual rate of consumer price inflation. This came from a 0.7% fall in January and […]

Japan posts upbeat factory activity as output, orders grow

Japan’s manufacturing activity greatly accelerated in March, a private survey showed on Wednesday. The expansion seen in the sector was mainly from the prospect of a global economic rebound as more and more countries roll out coronavirus vaccines. The au Jibun Bank Flash Japan Manufacturing Purchasing Managers’ Index (PMI) rendered a seasonally adjusted 5.2 reading […]

Dollar steadies ahead of Powell testimony

The dollar lingered below recent highs on Tuesday as traders looked to U.S. policymakers for hints on the prospect of rising yields. The New Zealand dollar plunged after the country’s housing reforms eased policy-tightening expectations. The Turkish lira steadied after a 7.5% drop on Monday after President Erdogan sacked a hawkish central bank chief. The […]

Rising dollar drags gold down as Treasury yields remain near highest level

With the dollar keeping afloat and ten-year yields remaining near their highest level in over one year, gold prices fell in Asian trade on Monday. Gold futures fell 0.09% at $1,740.15 while the dollar improved on Monday. Two, five, and seven-year debt auctions in the U.S. treasury later in the week are anticipated among investors. […]

Renesas fire drags shares of Japan’s big three car maker

Toyota Motor, Nissan Motor, and Honda Motor had seen their shares drop on Monday. The decline monitored by Japan’s three biggest automakers was mainly from a fire at one of Renesas Electronics semiconductor plant, raising concerns that this might lead to a global shortage of automotive chips. Shares of Japan’s big three carmakers traded 2% […]

Oil extends losses due to gloomy demand outlook

Oil prices dropped for a sixth straight day on Friday, down almost 9% for the week. This came as a fresh wave of coronavirus cases across Europe prompted lockdowns and dampened hopes for fuel demand recovery.  U.S. West Texas Intermediate crude dropped 0.07%, or 4 cents, at $59.96 per barrel. Brent crude fell 0.16%, or […]

Gold rises over growing expectations of higher inflation, policy decision caution cap gains

Gold prices flirted near their highest level in more than two weeks as the possibility of higher inflation loomed larger. The caution ahead of the up-and-coming US Federal Reserve policy decision, however, curbed further gains of the yellow metal. Gold futures added 0.22% at $1,734.75. For the fourth straight day, the dollar gained as the […]

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 […]

Euro zone ministers vow to extend fiscal support until 2022

Finance ministers of the euro zone were one to pledge continued fiscal support until 2022 in an effort to lift the common currency area to rise up from the coronavirus crisis. They also said that they would take care of the increasing debt only once the economic rebound starts. The eurogroup said the fiscal support […]

Oil falls as surge in stockpiles raise COVID-19 demand concerns

Oil prices dropped for a third consecutive day on Tuesday as a spike in U.S. crude stockpile raised demand fears after Germany and France planned to stop COVID-19 vaccinations. Brent crude dropped 0.7%, or 49 cents, at $68.39 per barrel following a 0.5% decline in the last session. U.S. crude fell 0.7%, or 47 cents, […]

World shares gain on recovery-driven hopes

Global share markets were seen upbeat, while U.S. bond yields placed near their 13-month peak on Monday. The series of gains came after U.S. President Joe Biden’s stimulus package was enacted last week, increasing investors’ optimism that the country’s economy will stage an impressive expansion. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.2%, […]

Asian shares gain on Biden’s stimulus; weak yields drive tech up

Asian share markets recorded an upbeat performance on Friday as U.S. President Joe Biden finally signed a $1.9 trillion stimulus bill into law. More so, markets’ strong sessions could partly be attributed to a decline in bond yields, greatly minimizing inflation-related concerns. MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.45% during its early […]

Asian shares advance on Dow’s historic record

Asian shares market advanced further, completely reversing from Thursday’s weak levels as an increase in U.S. consumer prices minimized concerns and sent the Dow Jones Industrial Average to record peaks. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.7% gain. South Korea’s Kospi came as the biggest advancer across the region, trading 1.7% […]

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 […]

Oil rises on expected pandemic recovery, potential drop in oil stocks

Oil prices climbed on Tuesday on expectations for a global economic recovery after the U.S. Senate passed a massive $1.9 trillion stimulus package. Prices were also supported by a probable drop in U.S. crude oil stockpile. However, a strong dollar and diminishing fears of a supply glut in Saudi Arabia following an attack on its […]

Gold bounces back from nine-month low

Gold regained its luster on Monday trade as it bounced back from the nine-month low outing during the previous session over a softer dollar. Gold futures edged up 0.38% at $1,704.89, after posting a nine-month low on Friday. The dollar was upbeat but lost against the currencies of major commodity exporters over increased investor bets […]

European stock futures mixed as major economies post upbeat figures

European stock markets were mixed starting the trading week as rising U.S. Treasury yields scare investors despite growing hopes for a global economic recovery. China also posted encouraging export figures for the first two months of 2021. CAC 40 futures in France improved 0.8% while Germany’s DAX futures contract dropped 0.3% and UK’s FTSE 100 […]

Brent spikes over $70 for first time since start of pandemic, Saudi facilities attacked

Brent crude futures rose above $70 per barrel on Monday for the first time since the onset of the coronavirus pandemic. The U.S. crude hit its strongest level in over two years after Saudi Arabian facilities were reported to be attacked. Brent crude futures for May contract rose to $71.38 per barrel in early Asain […]

Gold dips as rising U.S. Treasury yields fend off safe-haven investors

Thursday trade in Asia had seen gold dipping as rising U.S. Treasury yields fended off investors of the precious metal despite its rise from a nine-month low it posted the previous session. Gold futures declined 0.23% at $1,711.90, with the dollar racking up some gains on Thursday as it normally moves inversely to gold. Benchmark […]

Brazil GDP declines in 2020; coronavirus halts recovery

Brazil’s economy recorded a 4.1% contraction last year, data showed on Wednesday. The drop, which came to be the sharpest in decades, could be attributed to the coronavirus crisis as a second wave of virus restricted the economy’s recovery seen at the end of 2020. Data from statistics agency IBGE showed that Latin America’s largest […]

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 […]

Chinese services sector grows at slowest pace in ten months

A private sector survey showed on Wednesday China’s services sector expanding at its slowest pace in ten months, in February. The slow pace of the sector’s growth was due to job cuts as companies faced low demand and higher costs. The Caixin services purchasing managers’ index (PMI), posted a 51.5 reading, slightly lower than the […]

Dollar on defensive as traders rush for risk assets

The dollar fell to three-year lows against the pound as the prospect of extended easy monetary conditions worldwide lifted risk sentiment. The dollar index sat at 90.11, hovering near a six-week low of 89.941 hit overnight. The Aussie surged to a three-year high of $0.7945 before falling slightly to $0.7914. The kiwi climbed as high […]

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 […]

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 […]

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% […]

Jaguar cars to go all-electric by 2025

Jaguar Land Rover announced on Monday its luxury Jaguar bran will go all-electric by 2025 and the automaker will introduce e-models of its entire lineup by 2030, following other automakers’ bid in developing zero-emission vehicles. Tata Motors, owner of Jaguar Land Rover, also bared that the Land Rover brand will its first electric model in […]

Oil falls on second day as OPEC, IEA warning ends rally

Oil prices dropped for a second straight day on Friday after OPEC slashed its demand forecast and the International Energy Agency said the market is oversupplied.  Brent crude fell 0.8%, or 47 cents, at $60.67 per barrel after losing 0.5% in the last session. U.S. oil dropped 0.9%, or 53 cents, at $57.71 per barrel […]

UK housing market decelerates-  RICS

The expansion seen in Britain’s housing market receded sharply in January. This followed after the country reimplemented virus-related measures, and a soon-to-expire tax break for buyers dragged the market, a survey showed on Thursday. House price growth lost its momentum, placing lower than what was expected in a Reuters survey. More so, prices in London […]

Asian shares remain at highs on stimulus hopes

Asian share markets remained at highs on Thursday. This came after investors’ sentiment was heavily affected by an increase seen recently, with the prospect of a stimulus package supporting the session after the Federal Reserve went dovish for its outlook, and inflation in the United States rendered a positive reading. MSCI’s broadest index of Asia-Pacific […]

Dollar sits at two-week low amid risk sentiment boost

The dollar stood near two-week lows as safe demand dropped on Wednesday, with investors expecting a pandemic recovery this year, boosted by massive fiscal and monetary stimulus aids. The dollar index rose to 90.509 in Asian trade on Wednesday, following a two-day fall that pulled it to as low as 90.427. Traditionally a safe haven, […]

Asian shares advance on patchy Wall St. session

Asian share markets gained cautiously on Wednesday. The series of earnings followed after Wall Street’s strong session, with optimism about the global economy also supporting investors’ risk appetite. However, worries about the sustainability of a recent risk rally might restrict shares from advancing further. Australian shares jumped, with the S&P/ASX 200 gaining 0.5%. E-mini futures […]

German exports rise in December on solid U.S., China trade

Europe’s largest economy took heavy lifting from its exports as it had solid trade activities with the United States and China, with its upbeat December figures show recovery from the pandemic drag. Germany reported a 0.1% seasonally adjusted exports in December, following a 2.3% increase in November, according to the data released by the Federal […]

Asian shares, oil prices track Wall Street rally

Asian share markets saw an increase on Tuesday, while oil prices reached a 13-month high record on demand-driven optimism. The series of gains followed after Wall Street recorded a historic high, while an endorsement from Tesla Inc greatly supported Bitcoin. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.32%, easing from its 730.16 record […]

Dollar declines as investors doubt U.S. pandemic recovery

The dollar fell to its lowest in a week on Tuesday as traders began doubting the scale of a recent rally driven by hopes for a quick U.S. pandemic recovery. The dollar index fell 0.2% to 90.75 in Asian session, and slid to 90.963 for the first time since February.  The dollar has been in […]

Japan’s economic rebound likely dwindled in fourth quarter

According to a Reuters survey, Japan’s economic emergence from the coronavirus drag might have stalled in the fourth quarter. The prediction was rendered even after the country staged a brisk recovery from its sharpest recession earlier in 2020, indicating that households and companies were still grappling with the pandemic. With upbeat exports minimizing some of […]

Investors flock to $5 billion Alibaba bond deal despite regulatory woes

Alibaba Group Holding Ltd’s $5 billion U.S.-dollar bond offering was on demand for eight times the debt offered, emphasizing global investors’ faith in founder Jack Ma’s e-commerce giant despite a regulatory clampdown on his business empire. Pricing for the deal was fixed on Friday tighter than initially released by the company on Thursday, showing high […]

Qualcomm shares plunge on restricted chip supply

Shares of Qualcomm Inc dropped 7.6% during their after-hours trade on Wednesday. The decline was mainly from the company’s struggling sales growth as restrictions seen in semiconductor supply heavily dragged the sector. For the fiscal first quarter ended Dec. 27, the company’s sales reached $8.24 billion, with its adjusted profit advancing $2.17 per share. While […]

Tight China liquidity drags Asian shares; U.S. bond yields jump on stimulus hopes

Asian share markets recorded a subdued performance on Wednesday as tight liquidity conditions in China temporarily restricted buying. However, upbeat corporate earnings, stimulus-driven expectations, and easing retail-related disturbances greatly supported investors’ risk appetite. MSCI’s broadest index of Asia-Pacific shares outside Japan tallied a 0.2% decline, while Japan’s Nikkei plunged 0.4%. Both indexes reversed courses after […]

Dollar boosted by safe-haven bid after retail frenzy wounds risk sentiment

The safe-haven dollar found support on Monday with traders wary of the tension in Wall Street between retail and hedge fund investors. Doubts about the size of the Biden fiscal stimulus and slow vaccine rollouts also weighed on the market, with traders rushing for safer assets. Several Republican senators are urging Biden to downsize his […]

European shares soar as miners rally to lift silver

European shares soared on Monday trade, rebounding from its worst weekly decline since October propped by a rise in shares of miners after silver became an instant hit. The pan-European STOXX 600 index jumped 0.8%, with shares of miners including Fresnillo, Polymetal International, and Boliden AB helming early gains on the index. The recent frenzied […]

Asian shares advance on silver-driven sentiment

Asian share markets recorded an upbeat performance, while U.S. stock futures salvaged initial losses on Monday. The series of jumps could be attributed to retail investors’ found enthusiasm over precious metals, completely easing some struggling hedge funds. After plunging for four consecutive sessions, MSCI’s broadest index of Asia-Pacific shares outside Japan gained 1.4%. Japan’s benchmark […]

Apple’s revenue growth accelerates on strong iPhone sales

Apple Inc posted better-than-expected holiday quarter sales and profits on Wednesday. The strong earnings came mainly from a surge in sales as its new 5G iPhones tallied a 57% increase in China and pushed the company’s handset revenue to a new record. For the quarter ended Dec. 26, the company’s revenue soared 21% to $111.44 […]

S&P, Nasdaq post fresh record highs on optimism about Biden stimulus plan

The S&P 500 and Nasdaq posted fresh record highs on Thursday hovered by optimism about more pandemic relief from the Biden administration to lift the virus-hit economy. The Nasdaq Composite improved its best record, advancing 73.67 points, or 0.55%, to 13,530.92 after getting a big boost from soaring shares of megacap stocks such as Alphabet […]

Wall Street hits record high as Netflix soars, Biden inaugurated

Wall Street closed Wednesday trading on a high note, posting a new record high as Joe Biden was sworn in as the 46th U.S. president, while solid turnouts from Netflix mounted a rally in shares. Shares of Netflix spiked 16.85% after the world’s largest streaming service announced it would no longer be borrowing billions of […]

China to provide policy support for economic recovery: state planner official

China will lay out policy support for its economic recovery this year; also to avoid a fiscal cliff as small businesses continue to be dragged down by the COVID-19 crises. This development was affirmed by a senior official at the state planner on Tuesday. With an upbeat economic output in the final quarter of 2020, […]

Oil falls on rising coronavirus cases, U.S. stock draw caps losses

Oil prices fell for a second straight day on Thursday as rising global COVID-19 cases raised demand worries, despite a U.S. crude stock drawdown capping losses. Brent crude oil futures slid 0.1%, or 5 cents, at $56.01 per barrel. U.S. West Texas Intermediate crude futures was down 1 cent to $52.90 per barrel. U.S. crude […]

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 […]

Swiss economy could expand by 4% in 2021, 2022 SECO tells paper

Eric Scheidegger, chief of Economic Policy Directorate at The State Secretariat for Economic Affairs (SECO), affirmably concludes a 4% growth in the Swiss economy in the years 2021 and 2022, based on his statement released by newspaper NZZ am Sonntag.   Citing a “positive scenario”, Switzerland’s chief economist predicted the global economy to bounce bank […]

Investment deal to prop up European dealmaking in China

The investment deal between the Britain-less European Union and the world’s second-largest economy in China made last month is set to enforce European firms to secure assets in China in different sectors including insurance, healthcare, and automobile.   The EU-China Comprehensive Agreement on Investment (CAI), which took almost seven years to reach, is seen to […]

UK offers $6.2 billion support package to firms affected by new COVID-19 recession

In light of an expected new economic recession triggered by a surge in COVID-19 infections resulting in a third nationwide lockdown, the British government offered on Tuesday a 4.6 billion pound ($6.2 billion) support package for businesses. The third national lockdown was announced by Prime Minister Boris Johnson on Monday, citing the highly contagious new […]

U.S. factory activity reaches milestone peak; coronavirus weighs on supply chains

December had seen factory activity in the United States advance to a 2-1/2 year high. The expansion came amid the consistent drag of the coronavirus pandemic on the services sector, forcing people to resort to goods. However, surging infections restricted supply chains. The Institute for Supply Management’s index of national factory activity was read at […]

Dollar opens 2021 in the cellar with a hangover

The dollar opened 2021 by sliding on Monday as investors went on a sell-off in Asian trade, betting that the pandemic recovery will boost other currencies. The euro, which fell on New Year’s Eve profit-taking, gained 0.3% to $1.2252. The pound firmed at $1.3698, levels not seen since early 2018. The yuan surged 0.9% to […]

Stock futures plunge as Trump holds stimulus bill

While Treasuries advanced, majority of financial markets were seen subdued as U.S. stock futures and commodities reached low grounds on Friday. The mixed performance came after Donald Trump threatened not to legislate a long-awaited stimulus bill. S&P 500 e-minis plunged half a percent during their mid-day session in Asia. Meanwhile, European and British equity futures […]

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 […]