08272016Sat
Last update: Sat, 27 Aug 2016 06pm

Asia

Markets - FXMM - Asia

Yuan weakens even on stronger midpoint; inflows in focus HONG KONG: China's yuan weakened on Wednesday, on stronger prospects for a US interest rate rise this year and following the approval of a stock link between the Shenzhen and Hong Kong equity markets.The dollar edged off 7-week lows against the yen and euro on Wednesday after hawkish comments from Federal Reserve officials raised the prospect that US rates could rise as early as September. The global dollar index rose to 94.88 from the previous close of 94.791.In the biggest capital market reforms since last year's stock market crash, China approved the launch of a long-awaited scheme to allow stock trading between Hong Kong and Shenzhen, the world's second-busiest, and tech-heavy, exchange.Scotia bank analysts believe the new scheme could boost two-way cross-border portfolio flows and send both A-shares and Hong Kong equities higher.The People's Bank of China set the midpoint rate at 6.6056 per dollar prior to market open, firmer ...

Markets - FXMM - Asia

South Korean won, stocks fall on hawkish comments from Fed officials SEOUL: The South Korean won sharply fell on Wednesday, while shares edged down as markets became jittery after comments from Federal Reserve officials raised the prospects of a rate hike in the United States in September. The won was quoted at 1,108.3 to the dollar at the conclusion of onshore trade, down 1.5 percent from Tuesday's close at 1,092.2.The Korea Composite Stock Price Index (KOSPI) closed down 0.2 percent at 2,043.75 points.Offshore investors bought a ...

Markets - FXMM - Asia

Dollar halts slide on Fed rate hike talk TOKYO: The dollar halted its slide in Asia trade Wednesday after a senior US central banker said overnight that an interest rate raise could come as early as next month.William Dudley, the influential head of the Federal Reserve's New York branch, unexpectedly hinted that a rate hike was possible as early as September.Analysts said the comments from Dudley -- who remarked that Wall Street investors were too "complacent" about the prospect of higher borrowing costs ...

Markets - FXMM - Asia

Sri Lankan rupee steady as importer dollar demand offsets exporter sales COLOMBO: The Sri Lankan rupee ended steady on Tuesday as dollar sales by exporters were offset by importer demand for the U.S. currency, dealers said.The spot rupee ended at 145.50/55 per dollar, unchanged from Monday."Exporter (dollar) sales were there. But the rupee ended steady as a state bank bought dollars to cover some import bills including a petroleum one," a currency dealer said, asking not to be named.The spot rupee is usually managed by the ...

Markets - FXMM - Asia

China banks' net forex sales hit 4-month high in July BEIJING: Net foreign exchange sales by China's commercial banks hit the highest in four months in July, due partly to the impact from Britain's decision to leave the European Union, the foreign exchange regulator said on Tuesday. Commercial banks sold a net $31.7 billion worth of foreign exchange in July, up from $12.8 billion in June, the State Administration of Foreign Exchange (SAFE) said in a statement on its website.Earlier data showed the People's Bank ...

Markets - FXMM - Asia

Dollar slumps ahead of Fed meeting minutes TOKYO: The dollar slumped Tuesday as dealers awaited the release of minutes from the Federal Reserve's last meeting, while an overnight jump in oil prices lifted emerging Asian currencies.The US central bank is on Wednesday due to release minutes of its July 26-27 meeting, when it left key interest rates unchanged.But the Fed acknowledged an improved performance in the world's top economy, suggesting a rate hike may still be on the horizon this year.A rise ...

Markets - FXMM - Asia

Sri Lankan rupee ends steady in dull trade COLOMBO: The Sri Lankan rupee closed steady in dull trade on Monday as dollar sales by exporters were offset by importer demand for the greenback, dealers said.The spot rupee ended at 145.50/55 per dollar, compared with Friday's close of 145.50/52."The rupee ended steady in dull trade... There was no big importer demand or large (exporter) bills," a currency dealer said, asking not to be named.The spot rupee is usually managed by the central bank, and ...