Breaking News, Latest Philippines Headlines, World, Entertainment, Politics, Weather & Video News
HONG KONG, China (AFP) – Equities and crude prices fell while the dollar held at multi-year highs Wednesday as recession fears mount, and traders grow increasingly concerned about tensions between Russia and the West. Investors are keeping a close eye on London, after new finance minister Kwasi Kwarteng’s tax-cutting last week sent shock waves through markets, pushing the pound to a record low and leading to dire warnings for Britain’s economy. While Asia saw small […]
NEW YORK, United States (AFP) – Wall Street stocks fell again Monday as recession fears brought volatility to financial markets, pushing the pound to an all-time low against the greenback and pressuring oil prices. After last week’s rout, US indices climbed early in the session before tumbling back into the red. Both the Dow and S&P 500 dropped more than one percent to finish at their lowest value of the year. The Dow also entered […]
Tokyo, Sydney, Seoul, Singapore, Jakarta and Wellington all rose, but Hong Kong, Shanghai and Manila sank HONG KONG, China (AFP) — Asian markets were mixed Tuesday with confidence at a premium as traders contemplate the prospect of more Federal Reserve interest rate hikes and a possible recession. Wall Street suffered another day in the red after Friday’s capitulation in response to a warning from US central bank boss Jerome Powell that more tightening was needed […]
LONDON, United Kingdom (AFP) – European stock markets climbed at the start of trading Friday, as traders focus on recession risks. London’s benchmark FTSE 100 index grew 0.3 percent to 7,486.82 points despite official data showing the UK economy contracted in the second quarter as inflation soars. In the eurozone, Frankfurt’s DAX index rose 0.1 percent to 13,712.79 points and the Paris CAC 40 gained 0.2 percent to 6,556.80. bcp/lth © Agence France-Presse
TOKYO, Japan (AFP) – Tokyo stocks opened higher Friday, rebounding following gains on Wall Street after US economic data showed inflation may be slowing. The benchmark Nikkei 225 index climbed 1.44 percent, or 401.72 points, to 28,221.05 in early trade, while the broader Topix index rose 1.07 percent, or 20.66 points, to 1,954.31. The dollar fetched 133.16 yen, against 133.05 yen in New York on Thursday. The Japanese market will likely develop “solid” gains on […]
LONDON, United Kingdom (AFP) — Stock markets largely rose and oil prices retreated Monday as investors mulled the prospect of recession in the United States and elsewhere and central banks seek to tame soaring inflation with aggressive interest rate hikes. The dollar, which had surged on Friday on the prospect of further large increases in US borrowing costs, fell back on profit-taking at the start of the new week. Speculation is growing that the […]
HONG KONG, China (AFP) — Asian equities mostly rose Friday as a drop in oil prices to pre-Ukraine war levels stirred hopes of a slowdown in inflation and central bank interest rate hikes, while focus turns to key US jobs data later in the day. However, while markets have enjoyed a broadly positive week, optimism remains at a premium as traders fret over issues including the conflict in Eastern Europe, China’s military drills around […]
HONG KONG, China (AFP) — Chinese e-commerce giant Alibaba led technology stocks lower in Hong Kong on Monday after US authorities put it on a watchlist that could see it delisted in New York if it does not comply with disclosure orders. The market heavyweight sank more than five percent in early trade, pushing it to its lowest level since May and dragging the Hang Seng Tech Index with it. The US securities watchdog on […]
SEOUL, South Korea (AFP) — Shares in the management agency of the K-pop supergroup BTS plummeted Wednesday in early trading in Seoul after the band announced they were taking an indefinite break. The seven members, credited with generating billions of dollars for the South Korean economy, dropped the bombshell during their streamed “FESTA” dinner, part of a celebration that marks their anniversary as a group. The news sent shares of the band’s label HYBE tumbling […]
HONG KONG, China (AFP) — Hong Kong stocks opened sharply lower Friday morning, extending a global sell-off after the European Central Bank painted a dim outlook for the region’s economy, while traders are awaiting a key reading on US consumer prices. The Hang Seng Index fell 1.58 percent, or 346.55 points, to 21,522.50. The Shanghai Composite Index shed 0.76 percent, or 24.77 points, to 3,214.18, while the Shenzhen Composite Index on China’s second exchange slipped […]
NEW YORK, United States (AFP) — US stocks lost more ground on Tuesday after President Joe Biden imposed a ban on imports of Russian petroleum, and more major firms announced they were shutting operations in Russia. Britain also announced it was phasing out energy purchases from Russia after the invasion of Ukraine, while oil giants Shell and BP, both based in Britain, said they would stop buying Russian oil and natural gas immediately. The […]
HONG KONG, China (AFP) — Equity markets plunged Monday, while oil prices soared to a near 14-year high and safe-haven gold broke $2,000 as investors grew increasingly fearful about the impact of the Ukraine war on the global economy. Trading floors were a sea of red, while experts warned of a period of stagflation with the spike in crude likely to light a fire under already high inflation. The commodity at one point rocketed […]
