Economic news

The dollar steadied on Friday as a rise in U.S. bond yields and a weaker risk sentiment due to gloomy Chinese economic data halted a selldown of the greenback. Chinese retail sales fell against the market’s expectations, while industrial output failed to meet its forecast, showing a  bumpy recovery in the world’s second-biggest economy. Against […]

Oil prices rose on Friday, nearing their second week of gains amid growing confidence in fuel demand recovery. Brent crude gained 0.3%, or 14 cents, at $45.10 per barrel. U.S. West Texas Intermediate rose 0.3%, or 12 cents, at $42.36 per barrel. Prices were lifted this week by U.S. government data, which showed crude oil, […]

On Friday, Alphabet Inc.’s (GOOGL.O) Google announced that it would stop accommodating Hong Kong’s data request for its new national security law imposed by the Chinese government. The United States technology company stopped providing data since June 2020.   “As always, authorities outside the U.S. may seek data needed for criminal investigations through diplomatic procedures,” […]

On Friday, Epic Games said that it would file federal antitrust lawsuits against Apple (AAPL) and Google (GOOG.L) after Fortnite’s removal from app stores. The legal complaint was filed in the United States District Court for the Northern District of California. “Epic brings this suit to end Apple’s unfair and anti-competitive actions that Apple undertakes […]

July had seen China’s retail sales declining from a year ago. Meanwhile, the country’s industrial output placed below expectations amid signs of fragile recovery in the world’s second-largest economy. China’s industrial output recorded a 4.8% jump in July from a year earlier, data from the National Bureau of Statistics showed on Friday. Though it made […]

Asian shares were seen struggling on Friday. This followed after weak Chinese economic data and worries about a delay in U.S. fiscal stimulus dampened investors’ risk appetite. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.24% decline. Japan’s benchmark index Nikkei advanced 0.07%. Meanwhile, South Korean stocks dropped as new coronavirus infections in […]

Gold prices fell earlier on Thursday in Asia as investors eyed the surge in U.S. bond yields, a weakened Dollar, and a potential COVID-19 vaccine from Russia. Gold futures lost 0.08% to $1,947.50 per ounce at 11:19 PM ET (04:19 AM GMT), but still remained above the $1,900 mark. Bond yields surged and the Dollar […]

The S&P 500 index last traded inches below a record high on Wednesday, with the rally led by tech stocks and hopes for a swift economic recovery from the COVID-19 pandemic. The index rose by 1.37% to 3,379, cutting in close to February’s high of 3,386. Meanwhile, the Down Jones Industrial Average gained by 289 […]

Asian share markets recorded a well-ended session on Thursday, following Wall Street’s rally. This came after investors’ sentiment was bolstered by encouraging coronavirus figures and a surprising increase in U.S. inflation, prompting them to sell dollars and resort to tech stocks and gold. MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.2%. Moreover, gains […]

July had seen Australian employment advancing higher, surpassing analysts’ forecasts. However, the increase was still insufficient to neutralize the bloating numbers of job seekers as the country’s unemployment rate hit a 22-year peak. The land down under monitored its employment to have jumped by 114,700 new jobs, surpassing a 40,000 increase expected as large portions […]