09292016Thu
Last update: Thu, 29 Sep 2016 03am

Asia

Markets - Equity - Asia

SGX sees Baltic buy helping to boost Asian freight derivatives SINGAPORE: Singapore Exchange Ltd (SGX) sees the potential to develop new freight derivatives centred on active Asian shipping routes and expand the use of freight derivatives with its acquisition of London's Baltic Exchange, a senior SGX official told Reuters. "We believe there are a number of opportunities that the Baltic Exchange and SGX can realise together, including the creation and adoption of new benchmarks of Asian shipping routes," Michael Syn, head of derivatives at SGX told Reuters.The Baltic's daily benchmark rates and indices are used to trade and settle freight contracts as well as for settling freight derivatives, or FFAs, that allow investors to take positions on freight rates in the future.On Monday, Baltic Exchange shareholders approved an 87 million pounds ($113 million) takeover by SGX, bringing together the companies from two global maritime hubs.The acquisition of the Baltic Exchange, which owns a trading platform for the multi-billion dollar freight ...

Markets - Equity - Asia

Tokyo shares sink by close as firms go ex-dividend TOKYO: Tokyo shares closed lower Wednesday as more than half the firms on the Topix index traded without the right to a September dividend payment.A strong yen also hit exporters, from Toyota to Uniqlo operator Fast Retailing, while energy shares were under pressure ahead of the start of a key OPEC oil cartel meeting.Tokyo's drop followed a global rally Tuesday as Hillary Clinton was judged to have won the first presidential debate with Republican rival ...

Markets - Equity - Asia

Oil stages tepid rebound as hopes ease for output deal SINGAPORE: Oil prices posted marginal gains in Asia Wednesday as an industry report showing a decline in US stockpiles was offset by worries about the chances of this week's key producers meeting ending with a deal to limit output.The American Petroleum Institute (API) said Tuesday US supplies fell by 752,000 barrels last week, fuelling hopes official figures later in the day will also show lower inventories in the world's top economy and oil consumer.However, there ...

Markets - Equity - Asia

Hong Kong stocks end higher after late rally HONG KONG: A late surge saw Hong Kong stocks end slightly higher Wednesday, having spent most of the day in negative territory, while Postal Savings Bank of China was slightly up on its debut after a $7.4 billion IPO.The Hang Seng Index added 0.20 percent, or 47.75 points, to 23,619.65.The benchmark Shanghai Composite Index slipped 0.34 percent, or 10.31 points, to 2,987.86 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, dipped ...

Markets - Equity - Asia

China stocks sag ahead of long holiday; HK follows Asian markets lower SHANGHAI: China stocks sagged on Wednesday in thin trading, as investors' risk appetite continued to wane ahead of the week-long National Day holiday that starts on Oct 1.Hong Kong shares followed Asian markets lower, giving back some of Tuesday's gain, that partly stemmed from assessments that Democrat Hillary Clinton won the first presidential debate. Many investors regard her rival, Republican candidate Donald Trump, as a potential source of uncertainty for the global economy given his ...

Markets - Equity - Asia

Asia stocks edge down on Europe bank woes, lower oil TOKYO: Asian stocks were lower on Wednesday, with European banking sector concerns and lower crude oil prices dulling investors' appetite for riskier assets.Spreadbetters expected Britain's FTSE, Germany's DAX and France's CAC to open slightly firmer, with Wall Street's gains overnight just barely offsetting negative views on stocks.Equities in Asia had gained on Tuesday from a perceived win by Democrat Hillary Clinton at the first presidential debate over Republican Donald Trump, who is seen as creating ...

Markets - Equity - Asia

Asian markets down, energy firms hit by oil deal woes HONG KONG: Tokyo stocks led a retreat in Asian markets Wednesday as the yen recovered, while regional energy firms struggled with crude prices on concerns about the chances of success at an upcoming producers meeting.The OPEC oil cartel and Russia are due to gather later Wednesday in Algeria to discuss a global oil glut and overproduction that has strangled prices for more than two years.However, hopes for a deal to limit output were scythed Tuesday ...