South Korea KOSPI dives almost 9pc as tech stocks selloff on Fed anxiety
South Korea’s stock benchmark dived almost 9 percent on Monday, tripping circuit breakers, after robust US jobs data fanned bets on a Federal Reserve rate hike this year and sparked…
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Hang Seng Index falls over 300 points at Monday open
Hong Kong stocks opened lower on Monday over concerns of the US Federal Reserve interest rate hike. The benchmark Hang Seng Index dropped 379 points, or 1.52 percent, to 24,582.…
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OPEC+ set for fourth oil quota hike since Hormuz closure, sources say
OPEC+ is set to agree on Sunday a fourth increase in oil output targets in as many months, three OPEC+ sources said, even though the US war with Iran is…
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South Korea vows tough measures against speculative won trading
South Korean’s financial authorities agreed to investigate and take stern action against speculative trading that has fueled sharp swings in the won against the US dollar, the ministry said in…
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China’s central bank extends gold buying spree for 19th month in May
China’s central bank increased up its gold reserves for a 19th month in May, data from the People’s Bank of China showed on Sunday.
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China’s forex reserves rise more than expected in May
China’s foreign exchange reserves rose more than expected in May, central bank data showed on Sunday, as the greenback regained broader momentum. The country’s foreign exchange reserves, the world’s largest,…
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SpaceX IPO bars investors from China and Hong Kong, Bloomberg News reports
SpaceX’s underwriters have barred investors in China and Hong Kong from participating in the company’s planned initial public offering, Bloomberg News reported on Friday, citing people familiar with the matter.…
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China to tighten oversight of private investment funds
China on Friday tightened oversight of the country’s 23 trillion yuan (US$3.40 trillion) private fund industry, in a bid to reduce financial risks and channel money into technology innovation and…
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China banks raise dollar deposit rates amid yuan strength, sources say
Several Chinese banks have raised dollar deposit rates in recent weeks, sources said, in a move some traders say is likely aimed at slowing the pace of yuan appreciation. At…
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S&P 500, Nasdaq slip at open after solid jobs data fuels hawkish Fed fears; chip stocks fall
The S&P 500 and the Nasdaq dropped at market open on Thursday as chip stocks eased after a sharp rally, while a strong jobs report reinforced expectations of tighter monetary…
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US posts another month of strong job gains in May; unemployment rate steady at 4.3 percent
The US economy posted another month of strong employment gains in May,confirming that the labor market was gaining traction after stumbling last year, and potentially giving the Federal Reserve more…
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Hong Kong’s FX reserves rise to US$446.5 billion in May
Hong Kong’s foreign currency reserves rose by US$4.4 billion to US$446.5 billion last month. It represents over five times the currency in circulation or about 38 percent of Hong Kong…
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China appoints Ding Xiangqun as head of financial regulator
China has appointed Ding Xiangqun as minister of the National Financial Regulatory Administration, an official statement showed on Friday. She was appointed as the regulator’s Communist Party committee chief late…
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Hong Kong can help Swedish, European firms expand into China: Chan
ong Kong can help Swedish and European enterprises expand into the Chinese market that is expanding and increasingly sophisticated, said Financial Secretary Paul Chan Mo-po. Speaking at the National Day…
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HK’s de facto c bank establishes tokenized bond expert group to drive adoption
Hong Kong’s de facto central bank has convened a tokenized bond expert group, bringing together industry representatives with relevant experience and interest in the city’s tokenized bond market development, to…
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Hang Seng Index loses the 25,000 point mark on Friday
Hong Kong stocks plunged below 25,000 points on Friday on renewed Middle East tensions. The benchmark Hang Seng Index declined by 291 points, or 1.2 percent to 24,961 points at…
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China and Hong Kong users unable to access SpaceX website, IPO documents
SpaceX’s website and IPO marketing documents were not accessible on Friday in Hong Kong and mainland China, a Reuters review showed, a step that threatens to curb participation by investors…
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Yen teeters near 160 level after fresh warning; dollar buoyed by Gulf tension
The Japanese yen tested the 160 barrier on Friday, drawing sharp pushback from officials, while the US dollar was on track for a weekly gain as tensions in the Middle…
Keep readingHang Seng Index nears 25,000 points at noon on Friday
Hong Kong stocks fell to near 25,000 points by noon on Friday. The benchmark Hang Seng Index dipped by 205 points or 0.8 percent, to 25,047 points at noon. The…
Keep readingSpaceX blocked from early US benchmark index entry as S&P reaffirms existing rules
S&P Global said on Thursday it was not changing the requirements for entry into its major indices, dealing a setback to Elon Musk’s SpaceX by effectively ruling out a swift…
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IMF urges Fed caution on inflation as Warsh prepares to chair first policy meeting
The International Monetary Fund on Thursday urged the Federal Reserve in its first policy meeting led by new Fed Chair Kevin Warsh to stay cautious on rates due to persistent…
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South Korea labour minister calls on tech firms to share excess AI profits with suppliers, staff
South Korea’s labour minister called on the country’s major tech firms to share the spoils of their massive windfall profits, warning that unprecedented chip-sector gains stemming from the AI boom…
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Japan May foreign reserves fall by US$77 billion after large interventions
Japan’s foreign reserves fell by US$77 billion in May, government data showed on Friday, as Tokyo resumed massive interventions to stem the yen’s slide, fuelling market speculation over how far…
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China’s international trade council criticizes proposed US tariffs
The China Council for the Promotion of International Trade (CCPIT) has said it opposes the United States’ latest proposed tariffs that followed an unfair trade practices probe, Chinese state broadcaster…
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China wind equipment maker Dajin Heavy slips in Hong Kong debut
Chinese wind power equipment maker Dajin Heavy Industry (1081) slipped 11.1 percent in its Hong Kong debut on Friday after an up to HK$6.64 billion (US$847.57 million) share sale.
Keep readingHang Seng Index dips in early trading on Friday
The Hang Seng Index fell in the early morning trading session on Friday. The benchmark Hang Seng Index dropped by 133 points, or 0.5 percent to 25,119 points. The Hang…
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Dow claims record closing high, S&P 500 advances; chip selloff weighs on Nasdaq
Wall Street advanced on Thursday as progress toward ending the Iran war buoyed investor sentiment, while disappointing results from Broadcom led a chip selloff that pulled the Nasdaq lower. The…
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EU delays bank risk capital framework by three years, awaiting US, standards
The European Commission will delay the introduction of a new market risk capital framework for banks for three years to see how the U.S. and Britain implement the same international…
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Standard Chartered’s crypto bull sticks to US$100,000 bitcoin call despite ‘painful’ week
Geoffrey Kendrick, one of the most vocal crypto advocates, is sticking with his call for bitcoin to hit US$100,000 by the end of the year despite a “painful” week, with…
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China backs talks on fair competition, subsidies, vice commerce minister says
China supports discussions on fair competition, including restricting industrial subsidies that distort market competition and enhancing policy transparency, Li Chenggang, China’s vice commerce minister and international trade representative, said.
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