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HONG KONG, China (AFP) – Asian markets rallied Friday following a healthy performance on Wall Street, with investors largely pricing in more interest rate hikes aimed at taming runaway inflation. The more confident mood was reflected in a dip in the dollar, which has surged in recent weeks to multi-decade highs against its major peers owing to the Federal Reserve’s hawkish tilt to tighter monetary policy. The greenback’s softness came even after Fed chief Jerome […]
HONG KONG, China (AFP) – Stock markets resumed their downward trend Wednesday, with traders fearing the Federal Reserve’s determination to beat inflation with higher interest rates will tip the world’s top economy into recession. After bouncing from their June lows, global equities are once again taking a hiding from worried investors after Fed chief Jerome Powell warned last week the bank would need to tighten policy much more to succeed in its battle against prices. […]
HONG KONG, China (AFP) – Markets drifted in Asia on Wednesday, with investors trying to navigate an uncertain economic landscape as central banks hike interest rates to fight runaway inflation, in turn fuelling fears of a possible recession. But while officials at the Federal Reserve and its peers are expected to keep tightening monetary policy for the rest of the year, talk is building that they will be able to ease up in 2023 — […]
TOKYO, Japan (AFP) — Tokyo stocks opened higher Wednesday on gains on Wall Street and a cheaper yen, while investors await US-China summit talks amid speculation about a possible trade deal. The benchmark Nikkei 225 index, which has closed higher for the past three days, added 0.51 percent or 111.66 points to 22,064.06 in early trade while the broader Topix index was up 0.34 percent or 5.60 points at 1,649.76. “The Tokyo market, encouraged by […]
HONG KONG, China (AFP) — Technology and energy firms were the biggest losers as Asian markets tumbled on Wednesday, extending a retreat across Europe and New York. A global equity rally has hit the buffers this week as the US probe into Russia’s alleged election meddling sows uncertainty, Britain struggles to reach a Brexit deal with the European Union and traders remain cautious about Washington’s ability to push through tax cuts. A key drag for […]
HONG KONG, China (AFP) — Asian markets struggled on Tuesday while the safe-haven yen and gold held gains as traders fret over North Korea’s nuclear test at the weekend, which prompted warnings of US military action. The US ambassador to the United Nations Nikki Haley told an emergency Security Council meeting that Pyongyang was “begging for war” and called for the “strongest possible measures” against Kim Jong-Un’s regime. Also, US President Donald Trump and his […]
HONG KONG, China (AFP) — Asian traders moved cautiously Monday with turmoil in the White House fueling concerns about Donald Trump’s economic agenda, as a central bankers’ summit comes into view later in the week. While tensions over North Korea have eased, the deadly terror attack in Barcelona on Thursday is keeping focus on geopolitical issues. United States dealers provided a negative lead for their Asian counterparts, with all three main New York indexes ending […]
QUEZON City, Philippines (Eagle News) — Agriculture Secretary Emmanuel “Manny” Piñol threatened to file charges of economic sabotage against traders who hoard rice. “The moment I sense that there is an attempt on the part of rice traders to create a rice shortage I will recommend to the President the creation of a task force that would open up and inspect all warehouses all over the country and those found hoarding rice should be charged with […]
