02092016Tue
Last update: Tue, 09 Feb 2016 10pm

Asia

Markets - FXMM - Asia

Yen gains as China jitters spark flight to safety TOKYO: The yen jumped Thursday as worries about China's economy, a plunge in oil and equities prices, and geopolitical tensions sent panicked investors into safer assets.Global financial markets have been in turmoil since the start of the year, as a conflict between Iran and Saudi Arabia became the latest flashpoint in an already volatile Middle East.Investors fears were aggravated by North Korea's claim Wednesday that it completed a hydrogen bomb test and as another drop in oil prices pointed to a weakening global economy.On Thursday, Beijing's decision to lower the yuan's reference point against the dollar sparked frantic selling in Chinese stocks, with markets being suspended within 30 minutes after key indices tumbled more than seven percent.Authorities lowered the yuan's central rate against the greenback by 0.51 percent to 6.5646, the weakest since March 2011. Traders are growing increasingly concerned about a growth slowdown in the world's number two economy, ...

Markets - FXMM - Asia

Sri Lankan rupee recovers from record low on bank dlr sales COLOMBO: The Sri Lankan rupee recovered from a near record low on Wednesday as importer demand for the US currency was met through dollar sales by a private bank, dealers said.The dealers said expectations of a further fall in the rupee discouraged exporters from converting their dollar earnings.The rupee traded at 143.95/144.10 per dollar at 0618 GMT, 0.21 percent higher than Tuesday's close of 144.25/45, its near-record closing low. "The rupee is trading firmer as ...

Markets - FXMM - Asia

Dollar, yen add to gains amid trader caution NEW YORK: The dollar and yen both continued to strengthen Tuesday in a foreign exchange market dominated by caution over China's troubles and Middle East tensions.But Beijing's reported $20 billion intervention in capital markets following Monday's 7 percent stock plunge helped calm global financial markets.The US currency neared its highest level against the pound in 52 weeks, touching $1.4639 per pound before easing back slightly. The greenback pushed to $1.0750 per euro, and surged 0.4 ...

Markets - FXMM - Asia

Sri Lankan rupee steady; bank dollar sales prevent fall COLOMBO: The Sri Lankan rupee ended steady on Tuesday, hovering near its record low hit in the previous session, as dollar sales by a private bank offset importer demand for the US currency, dealers said. The dealers said expectations of a further fall in the rupee discouraged exporters from converting their dollar earnings. The rupee ended at 144.25/45 per dollar, nearly unchanged from previous session's record closing low of 144.30/40. "The importer (dollar) demand was ...

Markets - FXMM - Asia

China cuts yuan to weaker than 6.5 against dollar SHANGHAI: China cut the yuan's value against the greenback Monday, making it weaker than 6.5 for the first time in more than four-and-a-half years, with pressure mounting as the world's number two economy from a growth slowdown.The People's Bank of China (PBoC) says it is seeking to make the unit more market-oriented, and has succeeded in a long campaign to have the International Monetary Fund include the yuan in its Special Drawing Rights basket.Nonetheless Beijing ...

Markets - FXMM - Asia

China cuts yuan to weaker than 6.5 against dollar SHANGHAI: China cut the yuan's value against the greenback Monday, making it weaker than 6.5 for the first time in more than four-and-a-half years, with pressure mounting as the world's number two economy from a growth slowdown.The People's Bank of China (PBoC) says it is seeking to make the unit more market-oriented, and has succeeded in a long campaign to have the International Monetary Fund include the yuan in its Special Drawing Rights basket.Nonetheless Beijing ...

Markets - FXMM - Asia

Sri Lankan rupee edges down in dull trade COLOMBO: The Sri Lankan rupee ended slightly weaker in thin trade on Friday as many investors have still not returned from their holidays, dealers said. The rupee currency closed at 144.15/25 per dollar, edging down from Thursday's close of 144.10/20. "The market is illiquid. Just one or two small deals took place as most investors are still on holidays," said a currency dealer asking not to be named. The rupee hit a record low of ...