05312016Tue
Last update: Tue, 31 May 2016 09am

Asia

Markets - Equity - Asia

Revived US rate hike views weigh on Asian shares; oil up TOKYO/SINGAPORE: Asian shares weakened on Wednesday in the wake of accelerating U.S. inflation and comments from Federal Reserve officials that rekindled prospects of an interest rate rise as early as June.But Japanese shares erased losses after the world's third-largest economy posted surprisingly strong annualised 1.7 percent growth during the January-March quarter.MSCI's broadest index of Asia-Pacific shares outside Japan lost 0.8 percent.Japan's Nikkei climbed 0.6 percent as the yen gave up gains seen immediately following the GDP data to fall 0.2 percent to 109.33 per dollar."The yen strengthened a bit because growth was stronger than many had expected," said Ayako Sera, market strategist at Sumitomo Trust and Banking. "But looking at the details, there were still some concerning areas, including capital spending."Markets are now looking to Prime Minister Shinzo Abe's meeting with his coalition party leader, where he could discuss postponing a planned sales tax hike to support the flagging economy.China's ...

Markets - Equity - Asia

China, Hong Kong stocks fall as US rate hike fears revive SHANGHAI: Shares in China and Hong Kong shed over 1 percent on Wednesday after comments from Federal Reserve officials rekindled prospects of a U.S. interest rate rise as early as June.China's blue-chip CSI300 index fell 1.3 percent to 3,045.40 points by the midday break, while the Shanghai Composite Index lost 1.7 percent to 2,794.29 points, with both indexes heading toward a fresh two-month low.In Hong Kong, the Hang Seng index dropped 1.7 percent to 19,781.67, ...

Markets - Equity - Asia

Nikkei stock index flat after Japan GDP data TOKYO: Tokyo's benchmark share index closed marginally lower Wednesday, ending a two-day winning streak as better-than-expected Japanese GDP data cooled the chances of the central bank unleashing more stimulus.The Nikkei 225 at the Tokyo Stock Exchange was essentially flat, edging down 8.11 points to close at 16,644.69, while the broader Topix index of all first-section shares was up 0.19 percent, or 2.53 points, at 1,338.38.Copyright AFP (Agence France-Presse), 2016 ...

Markets - Equity - Asia

Hong Kong, Shanghai stocks slump by break HONG KONG: Hong Kong and Shanghai stocks ended the morning sharply lower Wednesday, in line with an Asia-wide sell-off following big losses on Wall Street.The Hang Seng Index in Hong Kong fell 1.68 percent, or 337.13 points, to 19,781.67 by the break.And the benchmark Shanghai Composite Index dropped 1.74 percent, or 49.39 points, to 2,794.29, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, tumbled 2.50 percent, or 45.31 points, to 1,769.37.Copyright ...

Markets - Equity - Asia

Asian markets down after Wall St losses, but Tokyo rallies HONG KONG: Asian stock markets mostly fell Wednesday following a two-day rally and strong US data that fuelled talk of an interest rate hike, but Tokyo extended its recent gains after a better-than-forecast economic growth reading.Japan said the world's number three economy expanded 0.4 percent in the first three months of the year, better than expected and boosted by a pick-up in consumer spending.The country's benchmark Nikkei stock index swung in and out of positive ...

Markets - Equity - Asia

Tokyo stocks up by break after growth data TOKYO: Tokyo stocks rose Wednesday morning after data showed Japan's economy expanded slightly more than expected in the first quarter to sidestep a recession.The world's number three economy grew 0.4 percent in January-March, preliminary figures from the Cabinet Office showed shortly before markets opened, beating forecasts."It's definitely stronger than I expected," Seiichiro Iwamoto, a senior fund manager at Mizuho Asset Management, told Bloomberg News."The environment abroad had deteriorated so it's no surprise that exports were ...

Markets - Equity - Asia

Sri Lankan shares fall on profit-taking; John Keells down COLOMBO: Sri Lankan shares edged down on Tuesday from its highest close in more than four months hit in the previous session, on profit-taking led by John Keells Holdings Plc as investors cautiously awaited March quarter earnings.Analysts also said investors were concerned that the government's move to increase the value added tax and impose new taxes, effective May 2, would hit the bottom line of many companies.The benchmark stock index ended down 0.56 percent, or ...