Category: Asia
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Asian stocks retreat, dollar holds near six-week high on hawkish Fed
Asian stocks retreated on Thursday, taking their cues from a subdued session on Wall Street, while the dollar retained gains made after the Federal Reserve’s hawkish policy statement. European markets looked more positive, with financial spreadbetters expecting Britain’s FTSE 100 .FTSE and Germany’s DAX .GDAXI to open 0.2 percent higher and France’s CAC 40 .FCHI…
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South Korea’s Daewoo Shipbuilding unlocks $2.6 billion bailout after bondholder approval
South Korea’s Daewoo Shipbuilding & Marine Engineering Co Ltd (042660.KS) has won near unanimous agreement from bondholders to swap their debt for equity, meeting a condition that unlocks a $2.6 billion bank bailout for the world’s biggest shipbuilder. Daewoo won approval from over 96 percent of bondholders at two meetings on Tuesday and three on…
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Asia stocks mixed, dollar subdued amid North Korea concerns
Asian stocks were mixed on Tuesday and the dollar gave up the gains it had made when the U.S. Treasury Secretary spoke in support of a stronger currency as escalating tensions around North Korea dragged sentiment lower. Financial spreadbetters predict a mixed start for European stocks, with Britain’s FTSE 100 .FTSE set to open 0.2…
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Asia:Japanese snack giant Calbee hit by potato shortage
Japanese potato crisp-maker Calbee and its main rival Koike-Ya are facing a major crunch in their supply chain. Both firms are said to be suspending sales or discontinuing several crisp brands after Japan suffered its worst potato harvest in at least 34 years. Typhoons and floods in Hokkaido, its main potato-growing region, last year caused…
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Asia stocks down, dollar posts gains on positive U.S. data
Asian shares fell on Friday as investors balanced positions on the last day of the quarter. The dollar rose on positive U.S. economic growth data and the euro was flat after overnight losses on figures suggesting slowing expansion in Europe. European shares were headed for a muted start, with financial spreadbetters expecting Britain’s FTSE 100…
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Oil looms large over Saudi king’s Asia tour
King Salman’s massive entourage has been stealing the show on his tour of Asia, but oil, money and geopolitics are driving the Saudi leader’s month-long journey. Asia’s growing economies are a big deal for Saudi Arabia, which is trying to wean itself off a dependence on oil. “As Saudi looks to the future, Asia of…
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Asian shares rise but mood cautious ahead of event-packed week
Asian shares rose on Monday, taking their cue from gains on Wall Street after strong U.S. job data, though the mood was cautious as oil prices plunged to 3 1/2-month lows on fresh worries of oversupply. A confluence of major events this week including an expected interest rate hike by the U.S. Federal Reserve, a…
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Asia:Toshiba Tec shares rise more than 6 percent on sale report
Shares in Toshiba Tec Corp (6588.T) rose more than 6 percent in early Monday trading after a report that Toshiba Corp (6502.T), the parent, is considering selling shares in the company. Toshiba Corp denied a Nikkei business daily report that it was looking to sell shares in Toshiba Tec, a maker of cash register systems,…
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China posts rare trade deficit in February as imports gallop
China produced a rare trade deficit in in February after imports galloped, official data showed Wednesday. Exports fell 1.3 percent from a year earlier in February against a Reuters analyst poll predicting a 12.3 percent rise, but imports soared 38.1 percent from a year ago, beating forecasts of a 20 percent jump. The numbers compared…
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China February service sector growth slows to four-month low: Caixin PMI
Activity in China’s services sector expanded at the slowest pace in four months in February, with new business still growing at a solid rate but increasing competition making it harder for companies to raise prices, a private survey showed. The findings echoed a similar softening in growth in China’s official services activity survey released on…