05262016Thu
Last update: Thu, 26 May 2016 11pm

Asia

Markets - Equity - Asia

Sri Lankan rupee forwards end weaker; IMF loan to help stabilise currency COLOMBO: Sri Lankan rupee forwards ended weaker on Tuesday on dollar demand from importers, but the currency was expected to stabilise in June after money from an IMF loan flows in, the country's finance minister said.Dealers also said pressure on the local currency was likely to ease on expected fund inflows following the loan deal with the International Monetary Fund and on a plan to raise $1.5 billion through the sale of a 10-year sovereign bond."Money (dollars from exporters) is coming in and you could see there is some sense of consolidation coming in. It's in 146 range June 1 or 2 as soon as the IMF money comes in," Finance Minister Ravi Karunanayake told Reuters.The dollar/rupee forwards, known as spot next, ended at 146.90/147.00 per dollar, weaker from Monday's close of 146.75/85.Dealers said one of the two state-run banks, through which the central bank usually directs the market, sold ...

Markets - Equity - Asia

Hong Kong shares rise in line with Asia, US rally HONG KONG: Hong Kong rose in line with an Asian rally Tuesday and following strong gains on Wall Street, as energy firms were boosted by a surge in oil prices.The Hang Seng Index added 1.18 percent, or 234.85 points, to 20,118.80. The benchmark Shanghai Composite Index slipped 0.25 percent, or 7.18 points, to 2,843.68 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, edged down 0.02 percent, or 0.35 points, to 1,814.68.Copyright ...

Markets - Equity - Asia

Tokyo stocks close higher after oil price surge TOKYO: Tokyo stocks closed higher on Tuesday as shares in top automakers Toyota and Nissan rose, while energy stocks jumped after oil prices surged to six-month highs.The gain follows a positive session on Wall Street, but many investors were taking a wait-and-see approach before Japan releases first-quarter economic growth data on Wednesday.A contraction in the preliminary figure could tip the world's number three economy into a recession."Investors still want more positive factors to buy aggressively," ...

Markets - Equity - Asia

Hong Kong stocks track Wall St to end morning higher HONG KONG: Hong Kong stocks ended the morning session higher Tuesday, taking a strong lead from Wall Street, with energy stocks boosted by another rally in oil prices.The Hang Seng Index in Hong Kong added 0.31 percent, or 61.14 points, to 19,945.09 by the break.But the benchmark Shanghai Composite Index fell 0.37 percent, or 10.42 points to 2,840.44 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, fell 0.22 percent, or 3.96 ...

Markets - Equity - Asia

Yen ticks up ahead of G7 finance ministers' meeting TOKYO: The yen edged up Tuesday ahead a G7 meeting where currencies will be high on the agenda following Japan's threat to intervene in forex markets to tame the surging unit.Finance ministers and central bankers from the Group of Seven countries hold a two-day meeting from Thursday in northern Japan, with US President Barack Obama and other G7 leaders attending a separate summit between Tokyo and Osaka next week.Competitive currency devaluations will be the most ...

Markets - Equity - Asia

Sri Lankan shares gain to over four-month closing high COLOMBO: Sri Lankan shares rose on Monday to its highest close in more than four months, led by gains in large caps while traffic woes caused by a heavy downpour dented the trading session.The benchmark stock index ended up 0.43 percent, or 28.56 points, at 6,708.40, its highest close since Jan. 8.However, the gains were also capped on concerns that the government's move to increase the value added tax and impose new taxes, effective from ...

Markets - Equity - Asia

Asia markets up, Japan boosted by tax delay report HONG KONG: Asian markets rallied Monday following last week's sharp losses, with Tokyo boosted by a report that Japan's prime minister plans to delay a planned sales tax increase.Investors in Tokyo cheered a report Saturday in the respected Nikkei business daily that Shinzo Abe had told officials he wants to put off the consumption tax rise to avoid damaging the already tottering economy. It is not known how long he intends to postpone it.The last ...