Business

Asian markets mostly down as tariffs kick in

HONG KONG, China (AFP) — Most Asian markets fell on Monday as fresh Chinese and US tariffs on goods worth hundreds of billions of dollars kicked in, though Donald Trump reiterated that the two sides were still due to holds talks this month. Hong Kong was also being weighed by another weekend of violence, fuelling worries about possible Chinese intervention in the financial hub, while the unrest has also hit property firms and Macau’s casinos. […]

Global stocks boosted by China-US talk hopes

NEW YORK, United States (AFP) — Stocks floated higher on Thursday, lifted by positive sentiment surrounding the US-China trade war, while the pound steadied after a Brexit-fueled slump. China’s Commerce Ministry hinted Beijing could break the cycle of tit-for-tat retaliation in the trade war with the United States, while in Washington US President Donald Trump said the two sides continued to talk. Hope the countries could avoid catastrophe sent Wall Street higher for a second […]

Trade hope helps Asian markets bounce back from sell-off

HONG KONG, China (AFP) — Asian markets rose Tuesday, recovering from the previous day’s pounding, after Donald Trump said China-US trade talks would resume soon, though the president’s sharp changes in tone are keeping investors on edge. Regional equities tanked and the yuan plunged Monday in response to news at the weekend that Washington would hike tariffs on more than half-a-trillion dollars of Chinese imports after Beijing unveiled levies on tens of billions of US […]

China’s yuan sinks to weakest in 11 years amid trade tension

  SHANGHAI, China (AFP) — China’s currency slid on Monday to its weakest point in more than 11 years as concerns over the US trade war and the potential for global recession weighed on markets. The onshore yuan was around 7.1425 to the US dollar in late morning Asian trading, its weakest point since early 2008, but slightly off lows reached earlier in the day. Global economic tensions have intensified in recent days with the […]

Asian investors bide time ahead of much-anticipated Powell speech

HONG KONG, China (AFP) — Asian markets headed into the weekend on a cautious note Friday ahead of a key speech by Federal Reserve boss Jerome Powell, while the pound held the previous day’s rally fuelled by rekindled hopes for a soft Brexit. After a positive start to the week sparked by China-US trade hopes, investors have taken a wait-and-see approach ahead of Powell’s address, which will be parsed for an idea about the central […]

Cathay Pacific’s torrid week ends with shock CEO resignation

  by Jerome TAYLOR / Elaine YU Agence France Presse HONG KONG, China (AFP) — Cathay Pacific announced the shock resignation on Friday of its CEO Rupert Hogg, compounding a torrid week for the Hong Kong carrier after it was excoriated by Beijing because some staff supported pro-democracy protests. The 72-year-old airline has been left reeling after it became ensnared in the hardening of rhetoric from the communist mainland over ten weeks of anti-government protests […]

Global stocks choppy amid angst over trade war, bond yields

NEW YORK, United States (AFP) — European stock markets lost ground again Thursday as investors all but gave up hope that a US-China trade war could be nearing its end, while US equities staged a tentative rebound on some solid data. Fears over the stand-off between the world’s economic superpowers added to jitters over the state of global growth, and inflicted heavy losses on equities Wednesday, including the worst one-day fall this year on Wall […]

Global stocks rally as US delays key China tariffs

by J├╝rgen HECKER Agence France-Presse NW YORK, United States (AFP) — Global stock markets rallied on Tuesday and oil prices surged in a wave of relief after US President Donald Trump delayed tariffs on key consumer items from China, giving investors hope for some detente in the US-China trade war. The announcement caused a dramatic turnaround in equity markets, which had retreated earlier under the combined impact of tensions in Hong Kong, economic crisis in […]

Tokyo stocks open higher on Wall St gains

TOKYO, Japan (AFP) — Tokyo stocks opened higher on Wednesday, following rises on Wall Street, as concerns over the US-China trade row eased after President Donald Trump delayed tariffs on key Chinese goods. The benchmark Nikkei 225 index climbed 0.98 percent or 200.21 points to 20,655.65 in early trade while the broader Topix index was up 0.90 percent or 13.36 points at 1,499.93. “Japanese shares will be bought following the gains in US shares prompted […]

Asian markets sink as investors hit by perfect storm of crises

HONG KONG, China (AFP) — Markets retreated in Asia on Tuesday as uncertainty over the China-US trade talks was compounded by increasing tensions in Hong Kong and an economic crisis in Argentina. Investor confidence has been knocked this month by a perfect storm of negative issues, only slightly offset by hopes for further central bank easing measures as the global outlook dims. Comments from Donald Trump throwing next month’s planned trade talks into doubt, as […]

Cathay Pacific shares plunge after China warning on protests

  HONG KONG, China (AFP) — Shares in Hong Kong’s flagship carrier Cathay Pacific plunged more than four percent on Monday, after Beijing banned airline staff supporting Hong Kong protesters from flights going through the mainland. Cathay shares lost 4.37 percent to HK$9.85 by the break in Hong Kong, with the carrier’s parent company Swire Pacific Ltd. plunging 5.26 percent to HK$77.50. The nosedive comes as the airline is caught up in pro-democracy protests that […]