Category: Asia
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Asia stocks slide as Deutsche sours mood, oil pulls back
t index of Asia-Pacific shares outside Japan .MIAPJ0000PUS lost 1 percent and was on track for a 0.9 percent drop for the week. But it is poised for a 1.7 percent gain in September, and a 9 percent jump in the third quarter. On Thursday, Wall Street lost about 1 percent as Deutsche Bank shares…
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End of an era: BlackBerry will stop making its own phones
It’s the end of an era for BlackBerry. The company, famous for making cellphones with physical keyboards that were once so popular people nicknamed them Crackberries, has decided to stop making its own devices. BlackBerry said on Wednesday that it will rely on partners to manufacture the phones, which will still have BlackBerry’s look and…
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China, U.S. still in talks on trade pact despite challenges: Chinese commerce official
China and the United States are still in frequent discussion about a bilateral trade pact, despite a challenging global trade environment, a Chinese commerce official said on Thursday. China is keen to maintain open markets for its goods as its economy grows at its slowest pace in 25 years, but it faces rising trade tensions…
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Asia stocks wary, dollar slips before Fed Chair Yellen’s speech
Asian stocks were largely steady on Friday, with modest losses in some markets and gains in others reflecting nervousness before a keenly anticipated speech by U.S. Federal Reserve Chair Janet Yellen. European markets are also heading for a flat start, with financial spreadbetter CMC Markets expecting Britain’s FTSE 100 .FTSE and Germany’s DAX .GDAXI to…
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Asia stocks hold gains before Yellen speech, dollar firm
Asian stocks edged higher on Thursday but clung to recent well-worn trading ranges while the dollar held firm against regional currencies ahead of a speech by Federal Reserve Chair Janet Yellen at a global central bankers’ meeting. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS edged 0.3 percent higher. It is down 1.6 percent…
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Asian stocks drop from one-year high, dollar rises on Fed rate comments
Asian shares pulled back from a one-year high and the dollar strengthened on Wednesday, after an influential Federal Reserve official said interest rates could rise as soon as September. European markets are poised for slight gains, with financial spreadbetter CMC Markets predicting Britain’s FTSE 100 .FTSE and France’s CAC 40 .FCHI will open up about…
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Asia:Investors cool on Hong Kong stock market link with ‘Wild West’ Shenzhen
A plan to connect the giant stock markets of Shenzhen and Hong Kong offers global investors tempting access to China’s fast-growing tech sector, but high valuations and a reputation for wild speculation are likely to keep many buyers at bay, money managers said on Wednesday. China’s cabinet approved the long-awaited scheme on Tuesday, marking one…
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Japan’s economic growth weaker than forecast
Japan’s economy grew at a weaker-than-expected rate in the second quarter despite an aggressive spending policy by the government. Gross domestic product grew at an annualised rate of 0.2% in the three months to June, below market forecasts for 0.7% and a marked slowdown from the 2% rate in the first quarter. The figures come…
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Delta Air Lines grounds flights
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Delta Air Lines said early Monday that all of its departing flights have been grounded by a global computer system outage. “Our systems are down everywhere,” it tweeted in response to disgruntled customers. Delta (DAL), the world’s second largest airline, said the problem is a power outage at its Atlanta hub, starting at about 2:30 a.m.…
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China: July service sector growth eases employment falls for first time in four months-Caixin PMI
Growth in China’s services sector cooled in July, with weaker expansions in activity and new work prompting companies to shed staff for first time in four months as they looked to cut costs, a private survey showed on Wednesday. The findings contrast with a more upbeat official survey on Monday, raising concerns that China is…