08242016Wed
Last update: Wed, 24 Aug 2016 09pm

Asia

Markets - Equity - Asia

SE Asia Stocks: Philippine index closes at record high BANGKOK: The Philippine index closed at a record high for the second time in two weeks on Wednesday as foreign inflows boosted select large caps while other Southeast Asian stock markets slipped after the World Bank cut global growth forecasts.The development lender predicted the global economy would grow 3 percent this year despite benefits from lower oil prices, on disappointing economic prospects in the euro zone, Japan and some major emerging economies.The World Bank, in its twice-yearly Global Economic Prospects report in June, had predicted that the global economy would grow 3.4 percent in 2015. World GDP growth will reach 3.3 percent in 2016, it said, below its forecast 3.5 percent growth.The Philippine composite index ended the day up 1.2 percent at 7,490.88, surpassing its previous record closing high of 7,402.72 hit on Jan. 9.Buying by foreign investors sent shares of Metropolitan Bank & Trust Co to their highest level ...

Markets - Equity - Asia

Hong Kong stocks end 0.43pc lower HONG KONG: Hong Kong fell 0.43 percent, in line with a regional sell-off following another day of losses on Wall Street as oil prices continued to tumble.The benchmark Hang Seng Index slipped 103.37 points to end at 24,112.60 on turnover of HK$86.08 billion (US$11.10 billion).A morning rally that tracked gains in Shanghai dissipated in the afternoon as the price of oil resumed its falls towards new six-year lows.Both crude contracts suffered renewed declines after two ...

Markets - Equity - Asia

China stocks falter as investors sell manufacturing shares SHANGHAI: China stocks closed down on Wednesday, reversing earlier gains as investors sold off shares in manufacturing, in light trading volumes, as a long stock market rally shows signs of losing steam.The financial and bank sub-indexes closed slightly up but most other industries fell, with some manufacturing subindexes dropping by nearly 5 percent.The CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 0.3 percent, to 3,502.42, while the Shanghai Composite Index lost ...

Markets - Equity - Asia

South Korean won touches 10-week high on yen strength; shares fall SEOUL: The South Korean won climbed to a 10-week high versus the dollar on Wednesday, tracking gains in the Japanese yen after a collapse in commodity prices sent jittery investors rishing to find safe havens.A stronger yen allows investors more flexibility in betting on a higher won because it reduces the prospect of intervention by South Korean financial authorities to keep the currency competitive with that of Japan.The won was quoted at 1,082.2 to the ...

Markets - Equity - Asia

Tokyo stocks drop 1.71pc by close TOKYO: Tokyo stocks lost 1.71 percent on Wednesday, dragged down by a stronger yen and after a fall on Wall Street as oil prices head towards six-year lows.The Nikkei 225 index at the Tokyo Stock Exchange shed 291.75 points to finish at 16,795.96, while the Topix index of all first-section shares was off 1.22 percent, or 16.71 points, at 1,357.98.Copyright AFP (Agence France-Presse), 2015 ...

Markets - Equity - Asia

China shares inch up, bolstered by banking stocks SHANGHAI: China stocks edged higher at midday on Wednesday, with strong gains for banking shares outweighing falls for manufacturing counters.The CSI300 index rose 0.4 percent, to 3,527.32 points at the end of the morning session. The Shanghai Composite Index was also up 0.4 percent, to 3,247.35 points.In Hong Kong, the Hang Seng index added 0.2 percent, to 24,271.10 points. The Hong Kong China Enterprises Index gained 0.6 percent, to 12,133.50.The mainland bank index rose nearly ...

Markets - Equity - Asia

Hong Kong stocks up 0.23pc by break HONG KONG: Hong Kong shares ended the morning session 0.23 percent higher Wednesday, brushing off losses on Wall Street to track gains in Shanghai.The benchmark index added 55.13 points to 24,271.10 by the break on turnover of HK$46.73 billion (US$6.03 billion).Copyright AFP (Agence France-Presse), 2015 ...