08242016Wed
Last update: Wed, 24 Aug 2016 01pm

Asia

Markets - Equity - Asia

Thai stocks hit 16-month high after referendum 'yes' vote BANGKOK: Thailand's stock market index rose to a 16-month high on Monday after Thais voted in a referendum to accept a new military-backed constitution that would pave the way for an election next year.The vote should reduce political uncertainty in Southeast Asia's second-largest economy and encourage incoming foreign fund flows, analysts said.It will also give the military government space to push ahead with economic policies, they said."The outcome is our best case scenario and investors should react positively as it is clear that the election will happen next year," said Kasem Prunratanamala, head of research at CIMB Securities."Foreign investors had been waiting for the vote and may invest more now."At 0325 GMT, the benchmark Stock Exchange of Thailand index was on course to notch a fourth consecutive day of ascent, standing 1.3 percent higher after rising as much as 1.4 percent to 1,540.09, the highest since April 28, 2015.The gains ...

Markets - Equity - Asia

China stocks rise despite weak trade data; Hong Kong up SHANGHAI: China shares inched up on Monday morning, as a surge in coal stocks and sustained interest in property shares ignited by the Vanke drama offset the impact of worse-than expected trade data.Hong Kong equities rose to eight-month highs, as strong U.S. jobs data on Friday lifted risk appetites globally.Both China's blue-chip CSI300 index and the Shanghai Composite Index climbed 0.3 percent, reaching 3,214.64 points and 2,984.44 points, respectively.On the macro front, China's exports and ...

Markets - Equity - Asia

Asian stocks jump to 1-year highs as yield hunt spreads HONG KONG: Asian stocks rose to one-year highs and the Australian dollar climbed on Monday as investors' hunt for yield gathered momentum against a backdrop of a recovering U.S. economy and ultra-easy easy global monetary policy conditions.While the strong July U.S. payrolls data raised hopes the world's biggest economy may have conclusively turned a corner after some volatile readings this year, markets expect the Federal Reserve will only hike in 2017 given that other countries ...

Markets - Equity - Asia

Singapore's SGX urges Baltic Exchange shareholders to back bid for historic London firm LONDON/SINGAPORE: Singapore Exchange Ltd (SGX) plans to buy one of London's oldest institutions, the Baltic Exchange where shipping rates are published, and urged shareholders on Thursday to support a deal. As the global shipping industry struggles with the worst market conditions for decades, SGX offered shareholders in the privately-owned Baltic Exchange 160.41 pounds in cash per share, for a total 77.6 million pounds ($102 million).Founded in 1744 as a forum for chartering vessels, the Baltic ...

Markets - Equity - Asia

Tokyo's Nikkei ends flat ahead of US jobs data TOKYO: Tokyo's benchmark stock index ended flat on Friday in a lacklustre session ahead of key US jobs data, but Toyota surged after a forecast-beating earnings report.The Nikkei 225 edged down 0.44 points to 16,254.45 while the broader Topix index of all first-section shares shed 0.24 percent, or 3.09 points, to finish the day at 1,279.90.Copyright AFP (Agence France-Presse), 2016 ...

Markets - Equity - Asia

Tokyo stocks up, Toyota soars on earnings TOKYO: Toyota Motor surged Thursday after a forecast-beating earnings report, while Tokyo's key Nikkei index also rose as traders welcomed a Bank of England interest rate cut.The world's biggest automaker on Thursday reported a 552.5 billion yen ($5.4 billion) net profit in April-June, down 15 percent on-year but well ahead of estimates of 440.2 billion yen, Bloomberg News said.It firm blamed a sharp rally in the yen and falling North American sales for the decline, ...

Markets - Equity - Asia

Hong Kong stocks boosted by BoE move, US jobs in focus HONG KONG: Hong Kong shares ended the morning sharply higher following an interest rate cut by the Bank of England and a surprisingly robust stimulus, while investors await the release later in the day of US jobs data.The Hang Seng Index jumped 1.47 percent, or 321.31 points, to 22,153.54 by the break.But the benchmark Shanghai Composite Index edged down 0.10 percent, or 3.05 points, to 2,979.38 and the Shenzhen Composite Index, which tracks stocks on ...