Asian stocks rise on US inflation cheer, positive data from Japan, China
Asian stocks rose on Thursday as more signs of cooling U.S. inflation ramped up hopes for interest rate cuts by the Federal Reserve, while a slew of positive economic indicators from the region also aided sentiment. Japanese and Chinese markets were the best performers in the region, after separate data prints showed Japan’s…
Oil prices rise on signs of big US inventory draw, inflation hopes
Oil prices rose in Asian trade on Wednesday, buoyed by industry data showing a bigger-than-expected draw in U.S. stockpiles, while soft inflation data also fueled hopes of deeper interest rate cuts. Sentiment towards oil markets was also on edge as traders awaited a retaliatory strike by Iran against Israel, which could happend as…
Gold prices dip as recession fears ease, set for weekly losses
Gold prices fell in Asian trade on Friday as positive U.S. labor data sparked a recovery in risk appetite and sapped some safe haven demand, putting the yellow metalon course for some weekly losses. Among industrial metals, copper prices also benefited from improved risk appetite, while positive inflation data from top importer China…
Yen slides after BOJ official says no rate hikes if markets volatile
The dollar was firmer on Wednesday, surging as much as 2% against the yen after Bank of Japan Deputy Governor Shinichi Uchida said the central bank won’t raise interest rates when financial markets are unstable. The yen was last down over 1.5% at 146.70 per dollar having touched session lows of 147.50 immediately…
US stocks slump as economic concerns mount; DJIA falls 1,000 points
U.S. stocks fell sharply Monday amid growing concerns over an economic slowdown, with technology stocks hit particularly hard. At 09:40 ET (13:40 GMT), the Dow Jones Industrial Average fell 1,070 points, or 2.7%, the S&P 500 dropped 188 points, or 3.5%, and the NASDAQ Composite slumped 810 points, or 4.8%. Slowdown fears batter…
Asian stocks: Japan tumbles as BOJ vows more rate hikes, China rebound stalls
Most Asian stocks were muted on Thursday as Japanese shares plummeted after the Bank of Japan flagged more interest rate hikes, while a rebound in Chinese markets stalled on more underwhelming business activity data. Regional markets took little support from an overnight rally on Wall Street, where signals on a September interest rate…
Democrats to hold Aug. 1-5 virtual vote on Harris presidential pick
Delegates to the Democratic National Convention will hold an Aug. 1-5 virtual vote to formally pick Vice President Kamala Harris as the party’s nominee for president in a Nov. 5 election, the Democratic National Committee (DNC) said on Tuesday. Harris was the only candidate to qualify for the Democratic presidential ballot, DNC leaders…
US accuses Venezuela of election manipulation, leaves door open to sanctions
The Biden administration said on Monday that electoral manipulation had stripped Venezuelan President Nicolas Maduro’s claim of reelection victory of “any credibility,” and Washington left the door open to fresh sanctions on the OPEC nation. Senior U.S. officials, briefing reporters on Sunday’s election, sharpened Washington’s response to the disputed vote, in which Venezuela’s…
Yen eases as Nikkei jumps, central bank meetings loom
The yen ticked lower on Monday after a week when it surged to its strongest in 12 weeks against the dollar, as a recovery in equity markets sapped demand for the currency as a safe haven. A flush out of long-held short yen positions also appeared to have run its course by the…
Singapore’s central bank keeps policy unchanged, as expected
SINGAPORE (Reuters) -Singapore’s central bank on Friday left its monetary policy settings unchanged for the fifth consecutive time, as expected, as growth picks up and ahead of an expected year-end moderation in inflation.The Monetary Authority of Singapore (MAS) said it expects the economy to strengthen over the rest of 2024, with growth coming…
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