01192017Thu
Last update: Thu, 19 Jan 2017 01pm

Asia

Markets - Equity - Asia

Takata shares dive 17pc on bankruptcy restructuring report TOKYO: Takata shares plunged 17 percent Thursday on a report that two rival suitors are set to propose bankruptcy restructuring plans for the airbag maker at the centre of the biggest-ever auto safety recall.The stock fell by its maximum daily loss limit to close at 717 yen after trading had been suspended in the morning following the rescue plan report by Japan's Nikkei business newspaper.Sweden's Autoliv, the world's leading airbag manufacturer, and a consortium led by US autoparts firm Key Safety Systems, are both expected to present competing turnaround proposals as early as this week, the Nikkei said.A court-mediated overhaul is seen as likely to win support from Takata's customers, which include leading automakers such as Toyota, Honda, General Motors and BMW, after it recalled more than 100 million airbags globally, it added.Takata shares did not trade at the start Thursday as the Tokyo Stock Exchange suspended activity following the ...

Markets - Equity - Asia

Toshiba dives on fears of huge loss at nuclear unit TOKYO: Toshiba shares went into freefall Thursday, with the embattled stock down by nearly half since late December on concerns about huge losses at its nuclear power business in the United States.The Tokyo-listed shares dived 16 percent to end the day at 242.3 yen after Japanese media said the vast conglomerate could book losses of as much as 700 billion yen ($6.1 billion) in the US unit.The stock fell as much as 26 percent earlier ...

Markets - Equity - Asia

Tokyo stocks rally, Toshiba dives on huge loss reports TOKYO: Tokyo stocks closed higher Thursday as a weaker yen lifted exporters, but Toshiba plunged 16 percent on concerns about huge losses in its US nuclear power business.Takata shares also dived, tumbling 17 percent on a report that two suitors are set to propose a bankruptcy restructuring plan for the airbag maker at the centre of the biggest-ever auto safety recall.The dollar rose to 114.63 yen Thursday from the 113-yen range early Wednesday, a plus ...

Markets - Equity - Asia

Tokyo stocks close higher after yen rally stalls TOKYO: Tokyo stocks closed higher Wednesday, reversing early losses on bargain hunting and as the yen retreated from a rally against the dollar. The market got off to a weak start after US President-elect Donald Trump's comment that the dollar was too strong lifted the yen.But the currency's rally proved was short-lived. "Attempts to buy on dips helped (the Nikkei 225) reclaim a level above 18,900," said Yoshihiro Ito, chief strategist at Okasan Online Securities."The ...

Markets - Equity - Asia

Tokyo stocks down ahead of British PM's Brexit speech TOKYO: Tokyo shares fell Tuesday as investors awaited British Prime Minister Theresa May's speech outlining details about how the country will handle its exit from the European Union.The pound edged back slightly but was still struggling after reports that May was ready to leave the EU in a so-called "hard Brexit".Sterling traded at $1.2092 in Tokyo, compared with $1.2055 late Monday in London. The unit plunged to three-decade lows below $1.20 this week.US markets were ...

Markets - Equity - Asia

Tokyo stocks down as Takata dives on US deal TOKYO: Japanese shares tumbled Monday with Takata hammered as the firm's agreement to plead guilty to fraud and pay $1 billion to settle a deadly airbag scandal still left unanswered questions about its future.Shares in Takata had soared more than 16 percent Friday ahead of an expected announcement in the United States that traders hoped would bring the curtain down on the affair.But the volatile stock dropped 10.55 percent to 949 yen on Monday, hit ...

Markets - Equity - Asia

Hong Kong, Shanghai start week with losses HONG KONG: Shares in Hong Kong tumbled Monday following last week's rally, while mainland Chinese markets were hit by worries about a rise in fresh listings that could absorb investors' cash.Hong Kong's Hang Seng Index shed 0.96 percent, or 219.23 points, to close at 22,718.15.The benchmark Shanghai Composite Index lost 0.30 percent, or 9.33 points, to close at 3,103.43. The Shenzhen Composite Index, which tracks stocks on China's second exchange, plunged 3.62 percent, or 69.59 ...