02062016Sat
Last update: Sat, 06 Feb 2016 08pm

Asia

Markets - FXMM - Asia

AIA plunges on China capital controls report HONG KONG: Shares in insurance group AIA plunged nearly nine percent in early Hong Kong trade Wednesday after a report said China would clamp down on the purchase of overseas cover.Beijing wants to close a loophole in its capital controls aimed at stemming the outflow of its depreciating yuan currency, as the economy logs its slowest growth in 25 years.China limits the amount of money individuals can move out of the country to $50,000 per year, and the overseas purchase of insurance products on credit or debit cards has been a popular way to skirt the controls.Hong Kong, with its vibrant financial sector and plentiful supply of investment opportunities has been a major benefactor of the trade.Mainlanders splashed out $2.7 billion on insurance policies in the former British territory in the first nine months of 2015, regulators' figures show.But Bloomberg News, citing unnamed people familiar with the matter, reported Tuesday ...

Markets - FXMM - Asia

Oil price fall, weak China data fuel yen-buying in Asia TOKYO: The yen got a lift Tuesday while emerging currencies took a hit as a renewed fall in oil prices and weak China data clobbered market sentiment.Crude extended its losses in Asia as hopes for a deal among producers to cut output fizzled out. Data Monday showed China's official purchasing managers' index, which tracks activity in factories and workshops, fell to its lowest level since August 2012.A slowdown in China delivered a one-two punch, fuelling ...

Markets - FXMM - Asia

Yen loses further ground after surprise BoJ stimulus move TOKYO: The yen sank again Monday, extending losses after the Bank of Japan unveiled shock stimulus last week, while emerging currencies took a hit as weak China manufacturing figures stirred worries about the world's number two economy.Japan's central bank on Friday announced it would adopt a negative interest rate policy, meaning it would effectively start charging commercial lenders to park their cash with it.The move -- intended to ramp up lending in order to kickstart ...

Markets - FXMM - Asia

Sri Lankan rupee steady amid importer dollar demand, outflows COLOMBO: The Sri Lankan rupee ended steady on Thursday amid importer dollar demand and some foreign outflow from t-bonds, but banks were reluctant to trade below the 144.00 level desired by the central bank, dealers said."There was demand for dollars. We have also seen some foreign investors selling bonds," a dealer said asking not to be named. Another dealer said there was importer dollar demand and nobody was trading the spot rupee below 144.00.The spot ...

Markets - FXMM - Asia

Sri Lankan rupee steady amid importer dollar demand, outflows; stocks up COLOMBO: The Sri Lankan rupee was steady on Thursday amid importer dollar demand, as banks were reluctant to trade below the 144.00 level desired by the central bank, dealers said.Some foreign outflow from t-bonds was also seen in the market, dealers said."There is demand for dollars. We have also seen some foreign investors selling bonds," a dealer said asking not to be named. Another dealer said there was importer dollar demand and nobody was trading ...

Markets - FXMM - Asia

Yen dips ahead of Bank of Japan policy decision TOKYO: The yen edged lower against its major peers as markets focus the Bank of Japan's two-day policy meeting, which starts Thursday.Investors are also keeping tabs on the Friday morning release of inflation, industrial production and unemployment data for hints about the health of Japan's economy.There is growing speculation that the BoJ will be forced to ramp up its stimulus this year to light a fire under the world's number three economy, although few expect ...

Markets - FXMM - Asia

Sri Lankan rupee steady amid importer dollar demand, outflows COLOMBO: The Sri Lankan rupee closed unchanged on Wednesday amid importer dollar demand and foreign outflows from t-bonds, as banks were reluctant to trade below the 144.00 level desired by the central bank, dealers said."We saw foreign investors selling some bonds," a dealer said asking not to be named. Another dealer said there was importer dollar demand and nobody was trading the spot rupee below 144.00.The spot rupee ended flat at 144.00/20 per dollar.The rupee ...