Economic news

Asia stocks were mostly down on Tuesday, tracking a decline on Wall Street following U.S. President Joe Biden’s nomination of Fed Chair Jerome Powell for a second term. Powell’s nomination bolstered expectations that the U.S. will taper its stimulus soon. MSCI’s gauge of Asia Pacific stocks outside Japan plunged 0.49%, while Hong Kong’s Hang Seng […]

Oil prices stooped on Monday, bowing under pressure from expectations of higher supplies and dwindling demand. Brent crude futures shed 0.7%, or 58 cents, to $81.59 per barrel by 0151 GMT, while the U.S. West Texas Intermediate (WTI) crude likewise lost 0.7%, or 58 cents, to $80.21 per barrel. Both benchmark contracts have declined in […]

Japan’s economy dwindled faster than anticipated in the third quarter as disruptions in global supply affected exports and business spending plans even as new coronavirus cases dampened consumer mood. Despite the expectations of many analysts that Japan’s economy would recover in the current quarter as pandemic restrictions are lifted, worsening global production bottlenecks remain a […]

China saw its coal output jump to its highest level since at least March 2015 in October. This came as the country authorized a slew of coal mine expansions to reduce prices and improve supply. According to the National Bureau of Statistics’ data on Monday, China produced 357.09 million tonnes of coal last month. This was […]

The dollar declined on Monday morning in Asia. The latest inflation numbers mostly lifted the safe-haven currency during last week’s trading sessions. Investors’ prospects of an earlier-than-expected interest rate hike from the U.S. Federal Reserve have also been fuelled by strong inflation figures. The U.S. Dollar Index that measures the greenback against other major currencies nudged 0.13% […]

Malaysia’s economy recorded a higher-than-expected 4.5% contraction in the third quarter. However, the Bank Negara Malaysia (BNM) expects a quick recovery following the lifting of some COVID-19 pandemic restrictions that allowed economic activity resumption. The latest economic data failed to meet analysts’ expectations of only 1.3% year-on-year drop. The BNM, with its optimistic outlook, said […]

The dollar continued its gains on Friday morning in Asia, on track for its best week in five months. Investors are expecting that the United States’ Federal Reserve will begin its interest rate hike sooner than expected following last Wednesday’s strong inflation data.  The U.S. Dollar Index that measures the greenback other major currencies tallied an increase […]

Oil dipped on Friday in Asia, relinquishing the previous session’s advances. The dollar’s strength fueled bets that the U.S. Federal Reserve will increase interest rates sooner than expected in response to soaring inflation. Brent oil futures dropped 0.81% to $82.20 by 11:16 PM ET (4:16 AM GMT), while the U.S. West Texas Intermediate futures edged […]

An expanding COVID-19 cluster in China’s Dalian has prompted national authorities to restrict outbound travel, cut offline school classes, and close some cultural sites in the port city in an effort to contain the outbreak. On Thursday, Dalian recorded 52 locally transmitted infections with confirmed symptoms, more than twice of Wednesday’s 21 new cases. The […]

House price inflation in the United Kingdom surged in October due to a scarcity of sellers, based on a survey released on Thursday. The Royal Institution of Chartered Surveyors (RICS) said more price hikes were expected. The RICS revealed that a net balance 70% of its members reported a hike in house prices in October. […]