Tag: business

Apple warning pummels markets worried about growth outlook

by Ben PERRY Agence France-Presse NEW YORK, United States (AFP) — Stock markets retreated Thursday as China’s slowing economy forced Apple to slash its revenue forecast, wiping around $75 billion from the company’s value and denting global investor sentiment. Apple late on Wednesday cut its revenue outlook for the latest quarter, citing steeper-than-expected “economic deceleration” in China and emerging markets, factors that have contributed to sharp falls across stock markets since late last year. Sentiment […]

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Tokyo’s Nikkei index closes down more than 2% in first trading day of 2019

TOKYO, Japan (AFP) –Tokyo’s key Nikkei index plunged more than two percent on Friday, hit by a surge in the yen and sell-offs on Wall Street amid worries over the US economy. In its first trading session of 2019, the benchmark Nikkei 225 lost 2.26 percent or 452.81 points to close at 19,561.96 as it was catching up with other markets after the New Year’s break. The broader Topix index lost 1.53 percent or 22.93 […]

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Hong Kong stocks suffer more losses

HONG KONG, China (AFP) — Hong Kong stocks fell again Thursday, extending the previous day’s losses as technology firms were hit by Apple’s decision to slash its revenue forecast for the December quarter citing slowing Chinese sales. The Hang Seng index slipped 0.26 percent, or 65.99 points, to close at 25,064.36. The benchmark Shanghai Composite Index was slightly lower, dipping 0.93 points to 2,464.36, while the Shenzhen Composite Index, which tracks stocks on China’s second exchange, […]

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Asia markets stage slight recovery but tech firms soured by Apple

HONG KONG, China (AFP) — Most Asian markets rose Thursday after the previous day’s sharp losses but technology firms fell after Apple slashed its revenue forecasts blaming slowing China sales. The yen pared early sharp gains from a flash crash, which saw the dollar briefly plunge to its lowest level since March after the Apple announcement, while the Australian dollar hit a 10-year low against the greenback. Investors trod cautiously as bargain-buyers capitalized on Wednesday’s […]

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Apple cuts outlook, sees ‘challenges’ in China, emerging markets

SAN FRANCISCO, United States (AFP) – Apple cut its revenue outlook for the latest quarter Wednesday, citing steeper-than-expected “economic deceleration” in China and emerging markets. The rare revenue warnings from Apple suggested weaker-than-anticipated sales of iPhones and other gadgetry, in part because of trade frictions between Washington and Beijing. Apple shares slid some 7.6 percent in after-hours trade on the news. The company slashed its revenue guidance for the first fiscal quarter of 2019, ended […]

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Brazil stocks hit record as Bolsonaro takes charge

by Rosa SULLEIRO Agence France-Presse SAO PAULO, Brazil (AFP) — Brazil’s stock market closed at a record high on Wednesday, one day after new President Jair Bolsonaro took office and in anticipation of economic reforms his government is expected to implement. The Ibovespa index in Sao Paulo’s stock market finished 3.56 percent up at 91,012 points. Markets were closed on Tuesday for the January 1 holiday. Hopes of a turnaround for Latin America’s biggest economy, […]

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Oil shares close higher, boosting US stocks

NEW YORK, United States (AFP) — Wall Street stocks finished modestly higher Wednesday as a rally in petroleum-linked shares offset the hit from weak Chinese economic data. After a choppy session that began with deep losses, the Dow Jones Industrial Average finished the session with a 0.1 percent gain at 23,346.24. The broad-based S&P 500 also edged up 0.1 percent to 2,510.03, while the tech-rich Nasdaq Composite Index rose 0.5 percent to 6,665.94. Markets began […]

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Jet Airways share slump after debt payment failure

MUMBAI, India (AFP) –Shares in India’s second-largest airline Jet Airways fell five percent Wednesday after the company admitted it had failed to meet debt payments to banks. The airline hit turbulence last year after failing to report its quarterly earnings or pay its staffers including pilots in August. Subsequently, chief executive Vinay Dube released the earnings and announced a cost cutting program amounting to 20 billion rupees ($280 million) over the next two years. “Payment […]

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Hong Kong leads Asia markets down as 2019 starts on sour note

HONG KONG, China (AFP) — Asian markets sank Wednesday, starting the new year by extending a slide that made 2018 the worst in a decade, with investors jolted by data reinforcing weakness in China’s economy. With a number of potential banana skins dotting the next 12 months — including the China-US trade row and Brexit — dealers are keeping to the sidelines as they look for signs of stability. Hong Kong led the losses, tumbling […]

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Oil price rollback posibleng ipatupad sa susunod na linggo

(Eagle News) — Panibagong bawas-presyo sa langis ang posibleng ipatupad ilang araw bago salubungin ang bagong taon. Bagaman walang trading sa world market noong Disyembre 24 at 25 dahil sa holiday season, malaki umano ang ibinaba ng presyo ng imported na langis sa kalakalan nitong Miyerkules. Umabot sa Php 2.43 sa kada litro ang nabawas sa presyo ng imported na diesel; Php 1.96 naman sa kada litro ng imported na gasolina; habang Php 2.44 ang […]

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Asian markets climb after bumper US session

TOKYO, Japan (AFP) — Japanese shares surged nearly four percent on Thursday, with investors heartened by Wall Street’s best performance in nine years after the White House said Fed Chair Jay Powell would not be fired. Asian markets followed Tokyo’s lead with most showing gains, giving some welcome relief from a lingering global market downturn. Singapore was up 1.4 percent in afternoon trade, Taiwan gained 1.7 percent and Bangkok rose 0.8 percent. Sydney closed up […]

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Tokyo’s Nikkei closes up more than 3.8% following NY rally

TOKYO, Japan (AFP) — Tokyo’s benchmark Nikkei index closed more than 3.8 percent higher on Thursday, with investors heartened by Wall Street’s best performance in nine years. The Nikkei 225 index soared 3.88 percent or 750.56 points to close at 20,077.62, while the broader Topix index was up 4.90 percent or 70.16 points at 1,501.63. The rallies came after the Nikkei index lost more than four percent this week amid rising doubts about the US […]

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