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MANILA, Philippines (AFP) — The Philippine economy was one of Asia’s best performers in the first quarter of 2018, data showed Thursday, but the strong growth has fuelled speculation the central bank will be forced to lift interest rates. The 6.8 percent expansion, which tied it with China and was only eclipsed by Vietnam, was boosted by a surge in government spending under President Rodrigo Duterte. Philippine growth, which was four percentage points higher than […]
HONG KONG, China (AFP) — Asian markets went into reverse Wednesday, tracking fresh losses on Wall Street as investors fret about rising US Treasury yields and speculation that interest rates will rise four times this year. Technology firms were once again in the firing line in response to a plunge in Google parent Alphabet on costs worries, while Apple shares suffered a fifth straight loss because of concerns over the crucial smartphone sector. The yield […]
HONG KONG, China (AFP) — Asian markets mostly fell Monday with technology firms extending last week’s sharp losses, following another plunge in Apple as investors fret over the once-lucrative smartphone sector. News Saturday that North Korean leader Kim Jong Un had called a halt to nuclear tests and intercontinental missile launches — ahead of a planned summit with Donald Trump — was unable to provide enough support. With attention now turning to earnings from […]
KUALA LUMPUR, Malaysia (AFP) — Inflammatory stories masquerading as real news pose a particularly toxic threat in Asian countries with long-standing religious and ethnic divides, but promises by some regional leaders to tackle the problem carry equal menace. Borrowing from US President Donald Trump’s political playbook, government heads with an authoritarian streak are using the mantra of “fake news” to shield themselves from negative media coverage, and push legislation that critics say is aimed more […]
HONG KONG, China (AFP) — Asian markets enjoyed another day of gains Thursday as energy firms tracked a surge in oil prices, while fears over Syria and a possible China-US trade war eased. Fresh hopes that Donald Trump and North Korea’s leader Kim Jong Un will hold a historic summit within months also provided some much-needed optimism. Both main crude futures rallied almost three percent Wednesday on the back of data showing a drop in […]
HONG KONG, China (AFP) — Asian markets mostly rose on Tuesday following news that China’s economy grew more than expected in the first three months of the year, but trade and geopolitical tensions continue to dog sentiment. Investors in Hong Kong and China reversed initial losses to swing back to positive territory after data showed the world’s number two economy expanded in January-March at the same rate as the previous three months. The 6.8 percent […]
HONG KONG, China (AFP) — Asian markets mostly rose Friday as Donald Trump soothed concerns about military action in Syria while also sparking hopes the US could rejoin a massive Pacific-wide free-trade pact. The US president on Wednesday sent shudders across trading floors when he warned “missiles will be coming” to Syria in response to an alleged chemical attack by the Russia-backed regime, fuelling fears of a stand-off between the major powers. But he tempered […]
HONG KONG, China (AFP) — Asian stocks dropped sharply at the open Tuesday, following Wall Street lower as fears of a trade war between the United States and China battered market sentiment. Tokyo led the declines, with the benchmark Nikkei 225 index shedding 1.51 percent in early trade. China followed suit, with the main Shanghai Composite Index falling 1.05 percent. Seoul was down more than half a percentage point and Hong Kong was off one […]
HONG KONG, China (AFP) — Asian markets tumbled on Wednesday as news that Donald Trump had replaced his moderate secretary of state with a hawk fanned fears of instability in the White House and a more hardline approach to foreign affairs. News that Rex Tillerson had been sacked rattled US equities, which had been buoyed earlier Tuesday by a soft inflation report that tempered talk of a sharp rise in interest rates. The former […]
HONG KONG, China (AFP) — Asian markets turned negative again on Monday as the fallout from Donald Trump’s steel and aluminum tariffs continues to feed concerns of a global trade war. Equities went into a tailspin last week after the tycoon unveiled his plans for the controversial levies, and while US investors ended Friday on a slightly positive note, there is still the prospect of more volatility to come. Trump ramped up his rhetoric at […]
HONG KONG, China (AFP) — Steel and aluminum producers across Asia sank Friday on news of Donald Trump’s controversial tariffs, though some analysts said the long-term effects on the sector might not be as bad as thought. The president said Thursday he would slap levies of 25 percent on steel and 10 percent on aluminum imports, delivering an election campaign promise to put “America First” and protect US jobs from what he claims are […]
TOKYO, Japan (AFP) — Asian stock markets edged up in thin holiday trade on Monday, with investors buoyed by gains on Wall Street despite ongoing concern about volatility. Tokyo followed Wall Street’s narrowly positive close, with the benchmark Nikkei 225 index up 1.33 percent, or 288.76 points, to 22,009.01 at the break. The broader Topix index was up 1.58 percent, or 27.40 points, at 1,764.77. However, trading was generally subdued in the region as many […]
