09292016Thu
Last update: Thu, 29 Sep 2016 06pm

Asia

Markets - Equity - Asia

Tokyo shares up by break as energy firms surge TOKYO: Energy firms soared in Tokyo Thursday, leading a Japanese stock market rally as oil prices were boosted by a surprise OPEC deal to cut crude production.The Organization of Petroleum Exporting Countries, meeting in Algiers, said they had reached an agreement to reduce oil output by 750,000 barrels, sending the commodity surging more than five percent.Japan Petroleum Exploration rocketed 9.65 percent on the news and energy explorer Inpex piled on 6.73 percent, while JX Holdings jumped 3.28 percent."OPEC's decision to curtail production wasn't expected," said Nobuyuki Fujimoto, a senior market analyst at SBI Securities."And now crude prices will likely head toward a range of $50 to $60 per barrel from $40 to $50 per barrel, which will ease global deflationary concerns," he told Bloomberg News.Tokyo's benchmark Nikkei 225 index climbed 1.42 percent, or 233.78 points, to 16,699.18 by the break, while the broader Topix index rose 0.93 percent, or 12.39 ...

Markets - Equity - Asia

Hong Kong, Shanghai stocks rally on OPEC deal HONG KONG: Hong Kong stocks rallied Thursday morning, boosted by a surge in energy firms after the OPEC oil cartel agreed a plan to cut production, sending crude prices soaring.The Hang Seng index climbed 0.48 percent, or 112.32 points, to 23,731.97 by the break. The benchmark Shanghai Composite Index added 0.56 percent, or 16.78 points, to 3,004.64 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, climbed 0.65 percent, or 12.78 points, ...

Markets - Equity - Asia

SGX sees Baltic buy helping to boost Asian freight derivatives SINGAPORE: Singapore Exchange Ltd (SGX) sees the potential to develop new freight derivatives centred on active Asian shipping routes and expand the use of freight derivatives with its acquisition of London's Baltic Exchange, a senior SGX official told Reuters. "We believe there are a number of opportunities that the Baltic Exchange and SGX can realise together, including the creation and adoption of new benchmarks of Asian shipping routes," Michael Syn, head of derivatives at SGX ...

Markets - Equity - Asia

Tokyo shares sink by close as firms go ex-dividend TOKYO: Tokyo shares closed lower Wednesday as more than half the firms on the Topix index traded without the right to a September dividend payment.A strong yen also hit exporters, from Toyota to Uniqlo operator Fast Retailing, while energy shares were under pressure ahead of the start of a key OPEC oil cartel meeting.Tokyo's drop followed a global rally Tuesday as Hillary Clinton was judged to have won the first presidential debate with Republican rival ...

Markets - Equity - Asia

Oil stages tepid rebound as hopes ease for output deal SINGAPORE: Oil prices posted marginal gains in Asia Wednesday as an industry report showing a decline in US stockpiles was offset by worries about the chances of this week's key producers meeting ending with a deal to limit output.The American Petroleum Institute (API) said Tuesday US supplies fell by 752,000 barrels last week, fuelling hopes official figures later in the day will also show lower inventories in the world's top economy and oil consumer.However, there ...

Markets - Equity - Asia

Hong Kong stocks end higher after late rally HONG KONG: A late surge saw Hong Kong stocks end slightly higher Wednesday, having spent most of the day in negative territory, while Postal Savings Bank of China was slightly up on its debut after a $7.4 billion IPO.The Hang Seng Index added 0.20 percent, or 47.75 points, to 23,619.65.The benchmark Shanghai Composite Index slipped 0.34 percent, or 10.31 points, to 2,987.86 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, dipped ...

Markets - Equity - Asia

China stocks sag ahead of long holiday; HK follows Asian markets lower SHANGHAI: China stocks sagged on Wednesday in thin trading, as investors' risk appetite continued to wane ahead of the week-long National Day holiday that starts on Oct 1.Hong Kong shares followed Asian markets lower, giving back some of Tuesday's gain, that partly stemmed from assessments that Democrat Hillary Clinton won the first presidential debate. Many investors regard her rival, Republican candidate Donald Trump, as a potential source of uncertainty for the global economy given his ...