(Reuters) – Asian shares extended gains on Wednesday as Wall Street’s record close encouraged investors to take on more risk amid signs of a continuing U.S. economic recovery and globally accommodative monetary conditions. The dollar eased 0.2 percent .DXY against a basket of key currencieswhile copper and crude oil prices rose as did commodity-linked currencies, often linked to risk appetite. The …
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Gold firmed on Monday, bouncing from a one-week low hit on Friday, supported by physical buying in Asia, but robust US economic data dented bullion’s safe-haven appeal. Automatic spending cuts that kicked off in the United States on Friday, pushing spot gold to its lowest level in more than a week, also continued to weigh. “The broad theme might be …
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The yen was under pressure in Asian trading on Tuesday after pro-easing comments from the men nominated to take over as the Bank of Japan’s new leadership. Japan’s currency has been pushed down by expectations that the BoJ will adopt fresh credit easing measures to boost the world’s third-largest economy when its new leaders take up their posts in the …
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The continuing ascension of China in South Asia is not a recent world development. However, the increasing power that China asserts on South Asia is now catching a lot of attention. China has always played the appeasement game well and continues to do so today. It’s dominance over South Asia; especially South East Asia is noteworthy. China has always believed …
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The Hurun Report, compiled by British accountant and former Forbes Rich List researcher Rupert Hoogewerf, found that Asia had 608 dollar billionaires, compared with North America’s 440 and 324 in Europe. It is believed to be the first time Asia has been named as home of the largest proportion of super-rich on any global list. Nonetheless the US, which has …
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HONG KONG: Asian markets were mostly up on Wednesday, with Sydney hitting a near three-year high, but Tokyo sank on profit-taking and as the yen picked up strength against the euro and dollar. The Japanese currency picked up after a Group of Seven (G7) statement on Tuesday that said “excessive volatility” in exchange markets hurts financial stability, as they tried …
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Financial regulators across Asia are tightening oversight of how key interest rates are set and cracking down on signs of corruption, as a widening investigation into the banking industry world-wide unearths more evidence of systematic rate rigging. In Hong Kong, the Hong Kong Monetary Authority has stripped a banking-industry group of control and is phasing out some versions of the …
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Remarkable equity rallies in Japan and China in December have signalled a strong start to 2013. The FT’s Josh Noble talks to Tai Hui, chief strategist Asia for JP Morgan Asset Management about the prospects for Asian markets in the coming year.
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Asian and European banks registered as US swap dealers this week, joining Wall Street rivals in complying with new rules that aim to shed light on the opaque US$650 trillion derivatives market. Deutsche Bank, Commerzbank, Societe Generale, BNP Paribas and Nomura were among the swap dealers listed in the registry of the National Futures Association (NFA), a US regulator. But …
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SINGAPORE — Oil prices rebounded in Asian trade Thursday on bargain-hunting but escalating turmoil in debt-wracked Greece and Spain limited gains. New York’s main contract, light sweet crude for delivery in November was up 39 cents to $90.37 a barrel in morning trade after closing overnight below $90 a barrel for the first time since August 2. Brent North Sea crude …
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