01182017Wed
Last update: Wed, 18 Jan 2017 11pm

Asia

Markets - Equity - Asia

Weak banks break China stocks' 10-day winning streak SHANGHAI: China stocks snapped a 10-day winning streak on Wednesday as banks dragged major indexes lower after Agricultural Bank of China (AgBank) reported a drop in profit and a spike in bad loans as the economy slows.Profit-taking also contributed to the fall, while analysts warned of rising volatility ahead as more people piled into the market betting on a further rally.The banking index declined 2.8 percent after AgBank late on Tuesday kicked off earnings reports from the country's "Big Four" banks this week. Its fourth-quarter net profit was below expectations while bad loans hit a three-year high.The CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 0.8 percent, to 3,940.41, while the Shanghai Composite Index lost 0.8 percent, to 3,660.73 points.But small-cap stocks remained strong, with the Nasdaq-style board ChiNext rising 1.7 percent to close at a record high despite lofty valuations.Among the most active stocks in ...

Markets - Equity - Asia

Vietnam index hits 7-week low; energy blue chips lead HANOI: Vietnam's benchmark VN Index retreated 1.15 percent to close at its lowest since Feb. 4 on Wednesday, led by a tumble in PetroVietNam Gas, the country's biggest listed firm by market value.GAS shares plummeted 6.67 percent to 70,000 dong ($3.26), its lowest close since Jan. 8, as investors took advantage of a buy-back programme to offload shares amid a gloomy outlook on the global oil market.Petrovietnam Drilling & Well Services Corp, another subsidiary of ...

Markets - Equity - Asia

Nikkei edges up as investors seek dividends TOKYO: Japan's Nikkei share average edged up on Wednesday as investors loaded up on stocks before they go ex-dividend later this week, but gains were limited by concerns that the market was looking technically overbought after a long rally.The Nikkei benchmark rose 0.2 percent to 19,746.20 points after traversing positive and negative territory. It was an inch away from its 15-year high closing level of 19,754.36 hit on Monday.The broader Topix gained 0.3 percent to ...

Markets - Equity - Asia

Vietnam index down 1pc; PetroVietNam Gas leads fall HANOI: Vietnam's benchmark VN Index was down 0.96 percent at the break on Wednesday, on track for a third straight session of losses, led by PetroVietNam Gas , the country's top firm by market value.GAS shares fell 5.33 percent to 71,000 dong ($3.3). Analysts said funds offloaded the blue-chip on the first day of its 10-million share buy-back programme.The company's shares have fallen as much as 40 percent since November 2014 due to the global ...

Markets - Equity - Asia

Weak banks threaten to break China stocks' 10-day streak; Hong Kong mixed SHANGHAI: Banking heavyweights dragged China's stock markets lower on Wednesday, threatening to snap their 10-day winning streaking win, and analysts warned of rising volatility as more people piled into the market betting on a further rally."The market is a bit crazy now. Even migrant workers are beginning to open stock accounts," Shen Zhengyang, Shanghai-based analyst at Northeast Securities said, referring to farmers who come to cities to work, often for low pay."Volatility would naturally increase," ...

Markets - Equity - Asia

Asia stocks stall after Wall Street slips, dollar holds gains TOKYO: Asian stocks stalled on Wednesday following declines on Wall Street, while the dollar held on to modest gains after a rise in U.S. inflation.MSCI's broadest index of Asia-Pacific shares outside Japan was little changed by midday after a small bounce the previous day.South Korean and Australian shares were effectively flat. The volatile Shanghai Composite Index lost 1 percent.Japan's Nikkei, which has been hitting a succession of 15-year highs, fell 0.6 percent, to 19,608 points, ...

Markets - Equity - Asia

Taiwan stocks down on profit taking, fall in US shares TAIPEI: Taiwan stocks fell on Wednesday on profit-taking after a recent rally and declines in US shares overnight.As of 0234 GMT, the main TAIEX index was down 0.6 percent at 9677.66, after closing down 0.27 percent on Tuesday, breaking a five-session gain.Taiwan's central bank will hold its quarterly policy-making meeting after the market closes on Thursday, where it is widely expected to keep key interest rates unchanged, a Reuters poll showed.The electronics subindex was down ...