NEW YORK (AFP) — Wall Street stocks were mixed early Monday as US markets sought to recover from last week’s rout amid worries over trade wars and slowing US growth. About 15 minutes into trading, the Dow Jones Industrial Average was down 0.2 percent at 24,331.19. The broad-based S&P 500 slipped 0.1 percent to 2,630.96, while the tech-rich Nasdaq Composite Index gained 0.5 percent to 7,002.90. Major US indices had fallen the most last week […]
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SoftBank aims to raise $23bn on Japan mobile unit IPO
TOKYO, Japan (AFP) — Telecoms giant and technology investor SoftBank Group aims to raise over $23 billion by listing its Japanese mobile unit next week in one of the biggest tech IPOs in years. In a statement, the group confirmed Monday it had formally decided to offer 1.76 billion shares, more than a one-third stake, in the SoftBank Corp mobile unit, with shares priced at 1,500 yen ($13) each. The offering includes 160 million shares […]
Tokyo stocks close lower on trade war fears
TOKYO, Japan (AFP) — Tokyo stocks closed sharply lower on Monday, taking a negative lead from New York where unease over the US-China trade war prompted a fresh sell-off late last week. The benchmark Nikkei 225 index lost 2.12 percent or 459.18 points to end at 21,219.50, while the broader Topix index was down 1.89 percent or 30.64 points at 1,589.81. On Friday, major US stock indices slumped more than two percent to conclude a […]
Asia markets tumble as dealers buffeted by negative issues
HONG KONG, China (AFP) — Asian markets sank Monday as investors juggle a number of negative issues that have fuelled worries about the global outlook. The China-US trade row, the Huawei crisis, signs of weakness in the Chinese and US economies, and Brexit are among the key matters depressing equities, though there was some upbeat news in OPEC’s decision to slash crude production. On Sunday, China summoned the US ambassador to protest at the arrest […]
EXCLUSIVE: Hong Kong traders “increasingly worried” over US-China trade issue, sees ASEAN as a top new market
OPEN FOR BUSINESS exclusive interview with Deputy director for Research of the Hong Kong Trade Development Council, Mr. Billy Wong, in Hong Kong (Eagle News) – Hong Kong’s traders are “increasingly worried” about the ongoing trade war between the United States and China, and are now looking for new markets for their goods. Deputy director for Research of the Hong Kong Trade Development Council, Mr. Billy Wong, told Eagle News Service’s Online program, “Open for Business” […]
Oil prices surge as OPEC agrees joint 1.2 mn bpd cut with partners
by Joseph SOTINEL / Jastinder KHERA Agence France Presse VIENNA, Austria (AFP) — OPEC members and 10 other oil producing nations, including Russia, agreed Friday to cut output by 1.2 million barrels a day in a bid to reverse falls in prices in recent months. Energy ministers reached the deal — which takes effect from January 1 but has already sent prices surging on oil markets — after two days of talks at OPEC […]
Downward pressure on oil prices may continue after OPEC, partners face test on oil cut deal
Saudi oil minister said he is “not confident” about chances of a deal on oil production cuts after a long day of negotiations at OPEC headquarters in Vienna. OPEC ministers resumed talks Friday before further discussions with 10 key partner countries, including Russia, later in the day to thrash out an agreement on production cuts. Amid sharp differences over which way to go, the oil market continued under pressure. In early trade Friday, the […]
Nissan to recall 150,000 cars due to improper checks
TOKYO, Japan (AFP) — Nissan Friday announced plans to recall approximately 150,000 vehicles owing to improper tests on new units, dealing a fresh blow to the Japanese car giant following the shock arrest of former chairman Carlos Ghosn. “Nissan has recently found several non-conformities that may have caused inaccurate pass/fail judgments during the inspection process,” the company said in a statement, adding it would “promptly” recall as many as 150,000 units in Japan. It confirmed […]
Tokyo stocks close higher on relief at US Fed report
TOKYO, Japan (AFP) — Tokyo stocks closed higher on Friday on a report that the US Federal Reserve could soon pause interest rate hikes, news that also boosted US markets. The benchmark Nikkei 225 index ended up 0.82 percent, or 177.06 points, at 21,678.68. Over the week, the index lost 3.01 percent. The broader Topix index gained 0.61 percent, or 9.85 points, to close at 1,620.45. Over the week, the index fell 2.82 percent. “Japanese […]
Asian markets tentatively higher at end of volatile week
HONG KONG, China (AFP) — Asian investors battled to finish a volatile week with some stability Friday as they weigh the outlook for China-US trade talks and uncertainty in oil markets while looking ahead to the release of key US jobs data. After the furious selling of the past two days, there was some optimism after a report said the Federal Reserve could slow down its pace of interest rate hikes next year, providing some […]
Japan to ban government use of Huawei, ZTE products: reports
Japan is to ban government use of telecoms products made by Chinese tech giants Huawei and ZTE on concerns about cybersecurity, reports said Friday. The government plans to revise internal procurement rules to exclude products made by Huawei and ZTE as early as on Monday, the mass circulation Yomiuri Shimbun. Jiji Press agency also reported the expected move. The ban comes after a US request to allies to avoid products made by the two companies […]
China furious at Huawei executive’s arrest in Canada
by Eva Xiao with Jacques Lemieux in Ottawa Agence France Presse BEIJING, China (AFP) — China reacted furiously Thursday after a top executive and daughter of the founder of Chinese telecom giant Huawei was arrested in Canada following a US extradition request, threatening to rattle a trade war truce with the United States. The detention of Meng Wanzhou, Huawei’s chief financial officer, comes after American authorities reportedly launched an investigation into suspected Iran sanctions […]
