05252016Wed
Last update: Wed, 25 May 2016 12am

Asia

Markets - Equity - Asia

China stocks post modest gains despite disappointing economic data SHANGHAI: China stocks rebounded on Monday after the securities regulator denied media reports it was cracking down on fundraising and mergers and acquisitions in certain sectors, helping to offset disappointing April economic data. The blue-chip CSI300 index rose 0.7 percent to 3,095.31 points, while the Shanghai Composite Index gained 0.8 percent to 2,850.86 points.The market had dropped for four weeks in a row amid increasing concerns that a recent pick-up in China's economic activity may be fizzling out.Confidence was also hit last week by media reports saying China would suspend additional fundraising and M&As in four industries, including online finance, gaming, film and virtual reality.But most stocks in those sectors rose on Monday after the securities regulator denied the report late on Friday and said it would continue to support M&As by qualified listed companies, with no change to existing policies.Although data released over the weekend showed that China's investment, ...

Markets - Equity - Asia

Tokyo stocks close higher after sales tax delay report TOKYO: Tokyo stocks closed higher Monday following a report that Japan's government may postpone a planned sales tax rise to avoid damaging the country's fragile economy.The benchmark Nikkei 225 index gained 0.33 percent, or 54.19 points, to close at 16,466.40, while the broader Topix index of all first-section shares ticked up 0.11 percent, or 1.46 points, to 1,321.65.Copyright AFP (Agence France-Presse), 2016 ...

Markets - Equity - Asia

Tokyo stocks jump by break after sales tax delay report TOKYO: Tokyo stocks rallied Monday morning, rebounding from last week's sell-off following a report the government is considering postponing a planned sales tax rise.Prime Minister Shinzo Abe wants to delay the consumption tax hike for a second time, judging that increasing the tariff could hurt the already fragile economy, the Nikkei business daily reported at the weekend."It's possible this news of a tax hike delay could entice foreigners to close their short positions," Yoshinori Ogawa, ...

Markets - Equity - Asia

Hong Kong, Shanghai stocks end morning on a high HONG KONG: Shares rose in Hong Kong and Shanghai Monday morning, in line with a regional rally driven strong spending data out of the United States, while another jump in oil prices lifted energy firms.The Hang Seng Index in Hong Kong added 1.22 percent, or 240.42 points, to 19,959.71 by the break.In Shanghai, the benchmark composite index added 0.23 percent, or 6.37 points, to 2,833.48 while the Shenzhen Composite Index, which tracks stocks on China's ...

Markets - Equity - Asia

Vietnam index drops but posts sixth straight weekly gain HANOI: Vietnam's benchmark VN Index ended down 0.21 percent on Friday for a straight second session of losses with most blue chips heading south led by food stocks.Dairy products maker Vinamilk, the country's top firm by market value, eased 0.69 percent, followed by food producer Masan Group, which dropped 2.08 percent.PetroVietnam Gas bucked the trend, rallying 2.86 percent after oil prices rose on Thursday with US crude hitting a six-month high, as investors weighed a ...

Markets - Equity - Asia

Sri Lankan shares hit over four-month closing high COLOMBO: Sri Lankan shares rose on Friday to hit its highest close in more than four months, led by gains in telecommunication and hotel stocks.However, the gains were capped on concerns that the government's move to increase the value added tax and impose new taxes, effective from May 2, would hit the bottom lines of companies. "Today the market is up on a positive feeling with the foreign inflow, but we feel it's temporary," said ...

Markets - Equity - Asia

Shanghai stocks up, Hong Kong down by the break HONG KONG: Hong Kong stocks sank almost one percent by the break Friday following a negative lead from Wall Street and Europe, while Shanghai was marginally higher ahead of the release of key Chinese economic data at the weekend.The Hang Seng Index in Hong Kong lost 0.95 percent, or 189.06 points, to 19,726.4But the benchmark Shanghai Composite Index edged up 1.15 points to 2,837.01 while the Shenzhen Composite Index, which tracks stocks on China's second ...