Business

Tokyo’s Nikkei closes up over 2.5% on UK election, trade talks

TOKYO, Japan (AFP) — Tokyo’s benchmark Nikkei stock index jumped more than 2.5 percent Friday, boosted by hopes for a US-China trade deal, and a big election win for Britain’s ruling Conservative Party that paves the way for Brexit. The Nikkei 225 index rallied 2.55 percent, or 598.29 points, to close at 24,023.10, the highest since early October last year. Over the week, it gained 2.9 percent. The broader Topix index was up 1.59 percent, […]

Asian markets struggle for traction as trade concerns fester

HONG KONG, China (AFP) — Asian markets were mixed Wednesday as investors grow nervous at the lack of news on China-US trade talks, with Washington yet to cancel tariffs on a swathe of Chinese goods planned for the weekend. With negotiators still trying to hammer out a mini agreement, the mood on trading floors remains upbeat. Most observers have been confident the two sides will eventually reach a deal, feeding a global equities rally for […]

Tokyo stocks open flat as US tariff deadline nears

TOKYO, Japan (AFP) — Tokyo stocks opened flat on Wednesday as investors waited for news on China-US trade talks, less than a week before Washington is due to impose fresh tariffs on Chinese goods. The benchmark Nikkei 225 index was up just 0.07 percent or 16.46 points at 23,426.65 in early trade, while the broader Topix index was down 0.05 percent or 0.80 points at 1,719.97. “Japanese shares are seen range-bound, with eyes on US-China […]

Saudi Aramco raises $25.6 billion in biggest-ever IPO

by Anuj Chopra with Luc Olinga in New York RIYADH, Saudi Arabia (AFP) — Saudi Aramco on Thursday priced its long-awaited IPO at the high end of the target range, raising $25.6 billion and giving the energy giant a valuation of $1.7 trillion in the world’s biggest stock sale. Aramco priced its initial public offering at 32 riyals ($8.53) per share, surpassing the $25 billion raised by Chinese retail giant Alibaba when it debuted on […]

Tokyo stocks open lower on faded hopes for US-China deal

TOKYO, Japan (AFP) — Tokyo stocks opened lower on Wednesday, dragged down by diminished hopes for an imminent US-China trade deal, and a stronger yen. The benchmark Nikkei 225 index fell 0.75 percent or 176.04 points to 23,203.77 in early trade while the broader Topix index was down 0.59 percent or 10.06 points at 1,696.67. Optimism that Beijing and Washington would eventually hammer out a partial agreement as part of a wider deal had supported […]

Asian markets rattled by fresh trade concerns

HONG KONG, China (AFP) — Asian markets tumbled on Tuesday as global trade uncertainty returned to the fore after the United States reimposed tariffs on Argentina and Brazil, threatened steep levies against France and warned China of new measures if ongoing talks are not successful. Optimism that Beijing and Washington will eventually hammer out a partial agreement as part of a wider deal has provided support to equities for weeks, helping Wall Street to numerous […]

Aramco says, IPO oversubscribed for individual investors

RIYADH, Saudi Arabia (AFP) — Saudi oil giant Aramco said on Friday that applications from private investors for its planned stock market offering had been oversubscribed. The much-delayed initial public offering, first announced in 2016, is a cornerstone of Saudi Crown Prince Mohammed bin Salman’s ambitious plan to diversify the Gulf state’s oil-reliant economy. The IPO could exceed the world’s biggest to date — the $25 billion float of Chinese retail giant Alibaba in 2014. […]

Asian markets rally following China data, eyes on trade talks

HONG KONG, China (AFP) — Asian markets rose Monday as investors cheered data showing a surprise jump in Chinese factory activity, while oil prices bounced from last week’s sharp losses after Iraq said top producers could announce a cut in output this week. But while the week started on a positive note, worries about the trade talks were revived by China’s Global Times newspaper saying Beijing wanted all US tariffs rolled back as part of […]

Hong Kong Airlines delays salaries as protests hit tourism

HONG KONG, China (AFP) — Low-cost carrier Hong Kong Airlines said Friday it will delay salary payments to some staff, warning its business has been “severely affected” by the political unrest in the city. Nearly six months of protests in the international finance hub have dealt with its tourism sector a massive blow, and airlines serving the city have struggled. “Hong Kong Airlines’ business is severely affected by the social unrest in Hong Kong and […]

Asian markets lifted by growing trade optimism

HONG KONG, China (AFP) — Rising expectations that China and the United States will soon reach an interim trade deal provided fresh impetus to Asian markets on Wednesday, with Donald Trump saying the talks were “in the final throes”. However, observers said that while the broad consensus is that the two will tie up something soon, there is an underlying unease at the lack of detail that is brewing uncertainty. “We’re getting to the point […]

Tesla suffers broken glass mishap during chaotic launch

LOS ANGELES, United States (AFP) — The big reveal of Tesla’s electric pick-up went embarrassingly wrong when the supposedly impact-proof windows smashed, leaving a flustered Elon Musk to flounder through the rest of his presentation in front of a badly damaged vehicle. The Tesla co-founder unveiled the all-electric battery-powered Tesla Cybertruck in California on Thursday, daring staff to hit the vehicle with sledgehammers and showing a video of it withstanding bullets shot from a 9mm […]

Asia markets plunge on trade fears after US passes HK rights bill

HONG KONG, China (AFP) — Hong Kong led losses as Asian markets tanked on Thursday after US lawmakers passed a bill supporting the city’s civil rights, sparking fears it could derail delicate China-US trade talks. Investors already nervous about the progress of negotiations were sent running for the hills after both houses of Congress overwhelmingly agreed to the bill and sent it to be signed off by Donald Trump. The Hong Kong Human Rights and […]