Economic news

Big Hit Entertainment, the management label of hugely popular South Korean K-Pop band BTS, announced on Monday that it would price its upcoming initial public offering (IPO) at 135,000 Won ($114.99) per share. The company stated that its IPO price would be South Korea’s largest listing in three years. “Big Hit is classified as a […]

On Saturday, Nissan Motor Corporation (7201.T) announced that it plans to release new automotive units in the growing Chinese market over the next five years. The Japanese multinational automobile manufacturer said that the move could help the struggling company return to making profit. “The recovery in the Chinese market has been very remarkable, and our […]

The dollar stood near a two-month high against a basket of currencies on Monday as doubts about economic recovery remained ahead of the release of economic data and political developments in the United States. The dollar index was little changed at 94.530. It hit a two-month high of 94.745 last week and reported its biggest […]

Oil prices slid on Monday as rising coronavirus cases offset hopes for a smooth fuel demand recovery, with main crude benchmarks on course for their first monthly drops in several months following last week’s fall.  Brent crude slid 0.6%, or 23 cents, at $41.69 per barrel after a 2.9% fall last week. U.S. West Texas […]

Gold futures lost 0.05%, trading at $1,865.30 per ounce at 12:09 PM ET (4:09 AM GMT). Meanwhile, the U.S. Dollar also traded lower with stocks gaining in Asia on Monday. Apart from the debate between Trump and Biden, investors are also looking if the U.S. Congress will reach an agreement on its latest stimulus package, with House […]

European stock markets traded slightly higher earlier on Monday, boosted by positive Chinese market data. However, gains were regarded as tentative due to the reemergence of COVID-19 cases in the region, further conveying signs of economic weakness. DAX futures in Germany gained 0.5% at 2:05 AM ET (0605 GMT), while CAC futures in France rose […]

On Monday, Hong Kong-listed shares of Semiconductor Manufacturing International Corp recorded more than a 7% drop. The decline followed after the United States implemented export-related restrictions on China’s largest chip provider over military concerns.   After a 6.7% drop, SMIC’s shares recorded a 7.9% decline to HK$12.12 ($2.21). This came to be the company’s worst […]

Chinese shares lifted Asian share markets on Monday. However, market sentiment was dampened ahead of a U.S. Presidential debate and as an upsurge in new coronavirus infections dragged investors’ optimism for global recovery. While MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.5% gain, it still placed near a two-month low seen last […]

The dollar steadied below its recent two-month highs on Friday and risk currencies recovered weekly losses, while equity markets were boosted by hopes that U.S. fiscal stimulus talks would resume. The dollar is on course for its best week since early April, supported by risk aversion that urged investors to quit their sell positions amid […]

Economists at the Commonwealth Bank of Australia said that it expects the Reserve Bank of Australia to hold interest rates at a record low of 0.25% at its Oct. 6 board meeting, contrary to calls for a cut from two major rivals. Financial markets are betting on a 60% chance of a cash rate cut […]