07252016Mon
Last update: Mon, 25 Jul 2016 09am

Asia

Markets - FXMM - Asia

China's yuan slips, poised for 1pc monthly fall as central bank stands aside  SHANGHAI: The yuan fell against the dollar on Thursday, as mid-year corporate dollar demand for mergers and acquisition activities remained strong while the central bank appeared to have held off from intervening to support the currency via state banks.If the Chinese currency closes around the midday level, it would have weakened 1 percent for the month. In May, the yuan posted its second-biggest monthly fall on record.The People's Bank of China set the midpoint rate at 6.6312 per dollar prior to market open, only 0.02 percent firmer than the previous fix 6.6324.Spot yuan opened at 6.6450 per dollar and was changing hands at 6.6442 at midday, easing 0.09 percent from the previous close. The currency has dropped 2.3 percent against the dollar so far this year."Today the market was relatively calm," said a trader at a European bank in Shanghai. "Robust dollar demand drove the yuan softer."A trader from a ...

Markets - FXMM - Asia

Dollar edges up, sterling steadies after traumatic month TOKYO: The dollar took a breather in Asia on Thursday but remained near a 3-1/2-month high against a basket of currencies hit in the wake of Britain's stunning vote to exit from the European Union, while the battered sterling continued to struggle.The dollar index, which tracks the greenback against a basket of six major rivals, edged up 0.1 percent to 95.836 , on track for a monthly loss of 0.1 percent.While the U.S. currency mostly ...

Markets - FXMM - Asia

Emerging currencies up on stimulus hope, easing Brexit woes TOKYO: Investors' taste for risk picked up in Asian currency trading Thursday with the South Korean won and Malaysian ringgit rising on stimulus hopes and as fears about Britain's exit from the EU ease.The pound held on to most of its gains against the dollar after diving to 31-year low this week, as Britain's vote to quit the European Union sent a shiver across world financial markets.Speculation that authorities will announce monetary easing measures to ...

Markets - FXMM - Asia

Dollar edges down, sterling steadies after traumatic month TOKYO: The dollar took a breather in Asia on Thursday but remained near a 3-1/2-month high against a basket of currencies hit in the wake of Britain's stunning vote to exit from the European Union, while recently battered sterling crawled higher.The dollar index, which tracks the greenback against a basket of six major rivals, edged down 0.1 percent to 95.642 , on track for a monthly loss of 0.2 percent.It rose as high as 96.705 ...

Markets - FXMM - Asia

Oil prices fall as supply outlook improves SINGAPORE: Oil prices fell in early trade on Thursday, with Brent futures struggling to defend $50 per barrel as fears over strike outages in Norway faded and as Nigeria's production improved.International Brent crude oil futures were trading at $50.10 per barrel at 0126 GMT, down 51 cents, or 1 percent, from their last settlement. U.S. West Texas Intermediate (WTI) crude futures were down 38 cents, or 0.76 percent, at $49.50 a barrel.Traders said the lower ...

Markets - FXMM - Asia

South Korea won, stocks join global rally, recover losses from Brexit SEOUL: The South Korean won and shares rallied early on Thursday, clawing back more of the losses incurred in the Brexit vote fallout as a rise in US stocks and global oil prices broadly boosted riskier assets.The won stood at 1,152.5 as of 0212 GMT, up 0.7 percent compared with Wednesday's close of 1,160.2.The Korea Composite Stock Price Index (KOSPI) was up 0.4 percent at 1,964.62 points."Foreigners coming back in for local equities and exporters ...

Markets - FXMM - Asia

South Korean stocks, won rise on renewed risk demand SEOUL: South Korean shares and the won climbed on Wednesday as global markets calmed down after the shock Brexit vote, renewing investors' demands for riskier assets. The Korea Composite Stock Price Index (KOSPI) closed up 1.0 percent at 1,956.36 points, marking three consecutive days of gains. At one point, the index was up 1.5 percent.Offshore investors ended a three-day streak of net selling, purchasing 58.5 billion won ($50.43 million) worth of KOSPI shares for the ...