02092016Tue
Last update: Tue, 09 Feb 2016 08am

Asia

Markets - Equity - Asia

Indian shares edge up; metal, bank stocks in focus MUMBAI: Indian shares trade flat on Monday as metal firms such as Tata Steel and lenders rallied after the country set minimum import prices for steel products to help a heavily indebted sector struggling to compete against shipments from abroad. India set the floor prices for imports on Friday, the first time it has taken such a step in over 15 years, to deter countries such as China from undercutting local mills.The measures also lifted lenders such as State Bank of India given that steel companies owe large debts to the banking sector.But overall sentiment remained fragile, with investors saying global factors would likely impact local shares until the government unveils its 2016/17 budget on Feb. 29."The news is marginally, more specifically sentimentally, positive for steel as well as bank stocks," said Vinod Nair, head of research at Geojit BNP Paribas Financial Services."We would adopt a wait-and-watch strategy as the ...

Markets - Equity - Asia

Tokyo stocks rise as weaker yen buoys market TOKYO: Tokyo stocks cast off early losses to finish higher Monday, buoyed by a weaker yen and upbeat economic data.The Japanese market sank one percent after the opening bell, tracking a fall on Wall Street as relatively strong US jobs data sparked speculation that the Federal Reserve could decide to raise rates again as soon as March.But the weakening of the yen -- a plus for exporters' profitability -- pushed markets higher, with the benchmark ...

Markets - Equity - Asia

Japan boosted as dollar strengthens, oil rises HONG KONG: Japanese stocks rallied as the dollar strengthened in holiday-thinned trade Monday, with most markets across Asia closed for the Lunar New Year holiday.A report Friday, showing that the US jobless rate had fallen to an eight-year low and wage growth had picked up, fuelled speculation of another US interest rate rise next month despite the recent chaos on global stock exchanges.Crude climbed almost one percent after major exporter Saudi Arabia said its oil ...

Markets - Equity - Asia

Nikkei falls for 4th day as strong yen hits; US jobs in focus TOKYO: Japan's Nikkei share average fell for a fourth day on Friday on concerns that a stronger yen may squeeze exporters' earnings, while investors awaited US jobs data for clues on the Federal Reserve's policy outlook. The Nikkei dropped 1.3 percent to 16,819.59 points, the lowest closing level since Jan. 26. For the week, the benchmark index declined 4 percent. Bucking the weakness, Sharp Corp soared on buyout hopes as Foxconn Chief Executive Officer Terry ...

Markets - Equity - Asia

SE Asia Stocks-Higher; Indonesia hits near 6 month high on Q4 GDP data BANGKOK: Southeast Asian stock markets rose on Friday, with Indonesia rallying to a near six-month high after fourth-quarter economic growth beat forecasts and key regional indexes notching up strong gains ahead of holidays.All share markets in Southeast Asia, except Thailand, will be closed on Monday for the Lunar New Year holiday. Singapore and Malaysia will remain closed through Tuesday and Vietnam for the rest of the week.Indonesia outperformed as foreigners bought large caps, taking the ...

Markets - Equity - Asia

Vietnam shares rise 0.5pc, volume hits over 9 month low HANOI: Vietnam's benchmark VN Index rose for a third straight session and closed 0.48 percent higher in thin trade on Friday, the last trading session before the Lunar New Year, or Tet.Banks led gains with four of the country's six listed lenders advancing. Top lender by market value, Vietcombank , edged up 0.25 percent, while BIDV rose 1.23 percent.As many as 61.85 million shares changed hands, the lowest since April 24, 2015, Thomson Reuters data ...

Markets - Equity - Asia

Indian shares rise but on track to end the week lower MUMBAI: Indian shares rose nearly 1 percent on Friday as state-owned lenders such as State Bank of India recovered from recent sharp losses, but indexes were still headed for a fourth weekly loss in five highlighting fragility in sentiment.The NSE index was down 1.3 percent for the week after a fall in crude prices hit sentiment and after the central bank kept interest rates unchanged on Tuesday. But traders said they looked forward to a ...