Category: Asia
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Asian shares scale ten-year peak, oil elevated on Iran unrest
Asian shares vaulted to 10-year highs on Thursday as solid economic data from the United States and Germany reinforced investors’ optimism, while oil prices hovered at a 2-1/2-year high with unrest in Iran stoking supply disruption concerns. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 0.3 percent, extending its gains so far this…
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China’s war on smog, risk, taking edge off Asia’s growth sprint
Growth in China’s manufacturing output slowed in October, threatening to chill activity across Asia, as tough steps to reduce air pollution forced factories to reduce production and a crackdown on financial risk-taking weighed on smaller firms. While business surveys on Wednesday suggested Asia’s export-driven expansion still has legs, the readings are starting to reflect signs…
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Asia shares mount 10-year top on strong economy, oil gains
Asian shares scaled a 10-year high on Wednesday on the back of solid economic growth globally, while oil prices extended a bull run on hopes that major producers will maintain their output cuts. European shares are expected to rise, with spread-betters looking at a higher opening of 0.4 percent in France’s CAC and 0.3 percent…
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Japan transport ministry raids two Nissan plants over improper checks
Japan’s transport ministry said on Wednesday it had carried out spot inspections at two plants producing Nissan Motor Co Ltd (7201.T) vehicles as part of a probe into final checks, days after irregularities forced the automaker to recall 1.2 million cars sold in Japan. The two inspections on Tuesday followed inspections at four more factories…
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Samsung scion Lee fights back tears as prosecutors seek 12 years’ jail
Samsung Electronics Vice Chairman Jay Y. Lee fought back tears and denied wrongdoing on Monday as prosecutors sought a 12-year jail term on charges that include bribing the former president to help cement control of the South Korean tech giant. Lee, the de facto leader of one of Asia’s largest conglomerates, has been in detention…
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Snapchat’s moment of truth is here
Snapchat has seen much of its market value disappear since going public in March. Now the situation could go from bad to worse. Snap(SNAP), the parent company of Snapchat, fell as much as 5% in early trading Monday to a new low as some company insiders finally get the chance to cash out. The stock…
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Asia shares advance as investors look to data for proof of ‘goldilocks’
Asian shares rose on Tuesday as investors looked to a barrage of economic data around the world to confirm recent signs the global economy is in fine fettle with inflation staying well contained. Spreadbetters expected a mostly stronger start for European shares, forecasting Britain’s FTSE to open 0.5 percent higher, Germany’s DAX to start up…
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Hyundai Motor profit slumps, warns China, U.S. sales malaise to persist
Hyundai Motor posted its smallest quarterly net profit in five years, falling dismally short of estimates, and warned the second half of 2017 would be challenging as political headwinds hit sales in China and slow U.S. demand continues. The South Korean firm – which together with affiliate Kia Motors is the world’s No.5 automaker –…
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Nintendo posts strong profits driven by new console
Japanese gaming giant Nintendo said it returned to profit in the first quarter due to strong demand for its Switch console. The company hoped the Switch would be a viable competitor against Sony’s PS4 and Microsoft’s Xbox One. Nintendo posted an operating profit of 16.21bn yen ($144.95 million; £111.39 million) for the first quarter. That’s…
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Nestle to open Japan factory for exotic Kit Kat demand
Nestle is to open its first factory in Japan in more than 25 years because of demand for exotic flavours of Kit Kat. While traditionally the wafer snack has been made using milk chocolate, dozens of different flavours are proving popular in Asia. Flavours like wasabi and green tea have helped Kit Kat sales in…