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Asia shares ease after run of gains; oil lifted by OPEC cut extension hopes

A pedestrian stands to look at an electronic board showing the stock market indices of various countries outside a brokerage in Tokyo, Japan, February 26, 2016. REUTERS/Yuya Shino

Asian stock markets took a breather on Friday from their recent surge as investors booked profits, while the dollar inched up after Thursday’s slide and optimism over possible renewed supply cuts by OPEC lifted oil prices. Financial spreadbetter CMC Markets expects Britain’s FTSE 100 to start the day flat, Germany’s DAX .GDAXI to be slightly higher and France’s CAC 40 ...

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Exports prop up Japan fourth quarter GDP growth, U.S. protectionist risks loom

People walk on a street at Tokyo's Ginza shopping district, Japan, February 12, 2017. REUTERS/Toru Hanai

Japan’s economy grew for a fourth straight quarter in the final three months of last year as a weaker yen supported exports, but tepid private consumption and the risks of rising U.S. protectionism cast doubts over a sustainable recovery. Data on Monday showed the world’s third-largest economy grew an annualized 1.0 percent in October-December, roughly in line with the 1.1 ...

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Toshiba prepares to unveil nuclear hole, other perils threaten

The logo of Toshiba Corp is seen behind trees at its headquarters in Tokyo, Japan October 1, 2015.  REUTERS/Toru Hanai

Toshiba Corp (6502.T) will on Tuesday detail a writedown of close to $6 billion after bruising cost overruns at its U.S. nuclear arm, turning investor attention to the Japanese group’s efforts to fix that and other balance sheet headaches. The TVs-to-construction conglomerate warned of a potential multi-billion dollar nuclear writedown in December, a year after a $1.3 billion accounting scandal. ...

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Forget demonetization. India’s central bank is worried about inflation


Economists may be have fretted over how demonetization would hit India’s economic growth, but the subcontinent’s central bank is focused more on its old foe, inflation. The Reserve Bank of India on Wednesday kept interest rates on hold at its policy meeting on Wednesday. That surprised the market, which had leaned heavily toward expecting a cut, in part because the ...

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China Jan FX reserves fall more than expected to $2.998 trillion, near 6-year low


China’s foreign exchange reserves unexpectedly fell below the closely watched $3 trillion level in January for the first time in nearly six years, even as authorities tried to curb outflows by tightening capital controls. Reserves fell by $12.3 billion in January to $2.998 trillion, compared with a drop of $41 billion drops in December. Economists polled by Reuters had forecast ...

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Cloudy skies ahead for Asia’s premium airlines amid strong dollar, oil


As Asia’s premium airlines enter earnings season, their prospects are looking dire amid a double whammy of a strong greenback and higher oil prices. “It’s very rare to see the U.S. dollar (USD) and oil move in the same direction. Both hit airlines’ earnings; fuel is 30 to 40 percent of costs and 70 to 80 percent of total costs ...

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Citigroup gets bond settlement agent license in China

A Citibank ATM is seen in Los Angeles, California, March 10, 2015.  REUTERS/Lucy Nicholson

Citigroup Inc’s (C.N) China unit said on Tuesday that it had received the so-called “Type A” bond settlement agent license from China’s central bank, allowing it to add to its offering of sales, trading, and research in the fixed-income business. Citigroup is the first U.S.-based bank to be granted the Type A license to act as a bond settlement agent ...

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Asia shares lag Wall St. gains, dollar in doldrums

A woman walks past electronic board showing stock prices and Japanese Yen's exchange rate outside a brokerage at a business district in Tokyo, Japan, January 23, 2017.  REUTERS/Kim Kyung-Hoon

Asian shares crept up on Monday as Wall Street gathered momentum into a busy week of earnings with more than 100 major companies due to report, while the dollar was again hobbled by a lack of progress on U.S. fiscal stimulus. E-mini futures for the S&P 500 ESc1 were barely changed and spread betters pointed to a steady start for ...

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China’s C919 jet expects first flight within first half of 2017: state media

The first C919 passenger jet made by the Commercial Aircraft Corp of China (Comac) is pulled out during a news conference next to a Chinese national flag at the company's factory in Shanghai, November 2, 2015. REUTERS/China Daily

China’s C919 passenger jet expects to make its maiden flight within the first half of this year as it has completed almost all major tests, state media reported on Monday, in a boost for Beijing’s ambitions to compete with global aircraft makers. The People’s Daily newspaper said the plane had started preparation for its much-delayed first flight and had nearly ...

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India’s business confidence dips to one-year low on demonetization drive


Business confidence in India has slipped to a one-year low due to the demonetization drive introduced by Prime Minister Narendra Modi in November, according to a survey conducted by the Federation of Indian Chambers of Commerce and Industry (FICCI). The survey, conducted between December 2016 and January 2017, showed the country’s Overall Business Confidence Index (OBCI) slipped to 58.2, compared ...

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