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Finance

Asian Shares Hit in September

SINGAPORE—Asian stock markets ended their worst quarter in years with more losses, as investors remained worried about the global economy and Europe’s debt woes.
China’s shares fell to their lowest levels in nearly 30 months as pessimism about the country’s economy and combined with tight liquidity ahead of China’s National Day holiday break that will close [...]

Read More » No commentOctober 2, 2011

Asian stocks fall as Europe anxieties flare again

BANGKOK (AP) — Asian shares were mostly lower Thursday as investors again began to doubt Europe’s ability to cauterize its worsening debt crisis.
Benchmark oil hovered above $81 a barrel while the dollar dropped against the euro but was steady against the yen.
Japan’s Nikkei 225 index shed 0.2 percent to 8,602.96 and Australia’s S&P/ASX 200 fell 1.2 [...]

Read More » No commentSeptember 29, 2011

Asian shares tumble as Europe fears deepen

Asian markets tumbled on Monday and the euro was further pressured by nagging uncertainty over the eurozone as leaders of the debt-troubled region struggle to find a plan to solve the crisis.
The week got off to a poor start as investors were left unimpressed by a commitment at the weekend from G20 finance chiefs that [...]

Read More » No commentSeptember 26, 2011

Asia stocks drop amid recession fears, debt crisis

BANGKOK (AP) — Asian stock markets fell Monday as investors grew increasingly convinced that Greece would default on its debts, an event that economists say has the potential to spark a global downturn.
Oil prices hovered below $80 per barrel while the dollar strengthened against the euro but was lower against the yen.
Japan’s Nikkei 225 index [...]

Read More » No commentSeptember 26, 2011

Asia Extends Slide

Asian stocks ended mostly lower in choppy trade Friday, extending losses amid a global market rout, but some markets came off lows as a Group of 20 nations statement gave a slight boost to sentiment.
“This type of move was inevitable. Traders are now facing up to fact that central banks could be coming to the [...]

Read More » No commentSeptember 24, 2011

Steps to Stem Won Swings Working ‘Well’: Bahk

South Korea pledged to combat “herd behavior” in financial markets as the won headed for its biggest weekly decline against the dollar since 2010.
“If there’s excessive movement in the exchange rate, the Korean government is willing to intervene to mitigate the pace,” Finance Minister Bahk Jae Wan said in an interview yesterday. The ministry said [...]

Read More » No commentSeptember 24, 2011

Temasek unit sells off partial holding

A unit of Singapore’s Temasek Holdings has sold off a 7.9% stake in telecom giant Shin Corp.
Shin, which rebranded earlier this year as In Touch, told the Stock Exchange of Thailand (SET) that Cedar Holdings had sold 60% of its stake to Thai investors and the rest to Thai NVDR Co. The sale resulted in [...]

Read More » No commentAugust 19, 2011

Chinese agency downgrades U.S. credit rating

Beijing (CNN) — Although the United States narrowly avoided an unprecedented default following congressional approval of a last-minute compromise plan to raise the debt ceiling, China’s leading credit rating agency Wednesday downgraded U.S. sovereign debt after putting it on negative watch last month.
The Dagong Global Credit Rating Company, which lowered the United States to A+ [...]

Read More » No commentAugust 3, 2011

Aide to Thaksin accused of graft

SEC says US liquor giant paid out millions
A senior politician in the Thaksin Shinawatra administration has been implicated in a multi-million-dollar bribery case involving the makers of Johnnie Walker whisky.
Liquor giant Diageo will pay US authorities more than $16 million to settle charges that it bribed officials in India, Thailand and South Korea, US officials [...]

Read More » No commentJuly 29, 2011

China rate hike fuels retreat in stock markets

LONDON (AP) — Another rate hike in China and a warning from a leading credit rating agency that Portugal may need another financial bailout sent stocks sharply lower on Wednesday.
Stocks were already lower when the People’s Bank of China announced it was raising its benchmark rate for one-year loans by 0.25 [...]

Read More » No commentJuly 6, 2011