Economic news

June had seen China’s factory gate prices falling for five consecutive months. This could be attributed to the novel coronavirus crisis dragging industrial demand. However, improvements monitored in some parts of the sector indicate a gradual economic recovery. The producer price index (PPI) recorded a 3.0% decline in June from a year earlier, China’s National […]

Asian equity markets advanced as investors disregarded the implications of renewed virus lockdowns and emerging Sino-U.S. dispute. Instead, they focused on upcoming company earnings, hoping that global stimulus efforts will render positive outlooks. MSCI’s broadest of Asia-Pacific shares outside Japan jumped 0.6%, securing a 20-week high as Chinese stocks advanced further.  Japan’s benchmark index Nikkei […]

China saw its factory gate data for June perform better than expected on Thursday morning. However, persistent deflation indicated that the impact from the COVID-19 pandemic still continues to linger. The data, released by the National Bureau of Statistics (NBS), showed a 3% decrease in the Producer Price Index (PPI) year-on-year, compared to analysts’ forecast […]

Gold traded lower earlier on Thursday in Asia but still remained above the $1,800 mark for three consecutive days. Gold futures lost 0.04% to $1,819.95 per ounce at 10:22 PM ET (3:22 AM GMT), with the yellow metal holding on to gains from previous sessions. The safe-haven asset has managed to reach record levels since […]

Gold traded lower earlier on Wednesday in Asia even as the new COVID-19 cases continue to increase globally. However, gold prices still remained above the benchmark $1,800 level. Gold futures slipped by 0.18% to $1,806.6 per ounce at 12:48 AM ET (05:48 GMT). Stocks, which usually move inversely to gold, also traded lower. COVID-19 cases […]

British multinational investment bank HSBC saw its shares slump as low as 3% on Wednesday as the U.S. contemplates measures to sanction banks in the city, as well as de-pegging the Dollar from the Hong Kong Dollar. HSBC shares fell by 2.72% to HK$37.60 ($4.851) at 12:53 Am ET (05:53 GMT), after it saw a […]

On Wednesday, Bursa Malaysia (KLSE) suspended public trading for low-cost carrier AirAsia Group Berhad (AIRA.KL) after an Ernst & Young external auditor gave an opinion about the airline’s ability to continue as a standing concern. “The slump in air travel and poor financial performance indicate the existence of material uncertainties that may cast significant doubt […]

U.S. President Donald Trump’s administration said on Monday that the small business pandemic aid program worth $660 billion was as a “wild success.” The data showed that 51 Million jobs for America’s small businesses were saved. The Paycheck Protection Program (PPP), overseen by the Small Business Administration (SBA), was given to small businesses such as […]

Levi Strauss & Co (LEVI.N) expects that its business would lose footing in the second half of the year. The company deemed it possible even as its sales were seen recovering at its reopened stores, following virus-related lockdowns imposed by the government. The denim apparel maker also said that it would slash 700 jobs in […]

Asian shares performed unsteadily on Wednesday. This followed after an increase in new coronavirus cases in some parts of the world dampened investors’ optimism over a possible recovery in the economy. Meanwhile, oil prices eased on oversupply concerns. MSCI’s broadest index of Asia-Pacific shares outside Japan declined after recording its 4-1/2 month high last Tuesday. […]