Economic news

Asian stocks were mixed earlier on Thursday as some indexes retreated from gains made in the previous session. Japan’s Nikkei slipped 0.10% at 11:30 PM ET (4:30 AM GMT). The country’s Minister of Finance reported a 21.9% plunge in exports for April year-on-year. Prime Minister Shinzo Abe is expected to come to a decision on […]

The first 20 days of May had seen a slump in South Korean exports. The country’s exports dropped a total of 20.3% from a year earlier as U.S.- and E.U.-bound shipments grew inactive, indicating that the coronavirus contagion dragged global demand. However, the numbers came out better than the 27.6% decline in April. More so, […]

April records showed that Japan’s exports dropped the sharpest since the 2009 financial crisis. Exports declined as the coronavirus pandemic ravaged worldwide demand for cars, industrial materials, and other products, pushing the world’s third-biggest economy further into recession. Year-on-year records from the Ministry of Finance showed that the country’s exports declined 21.9% in April. The […]

Asian stocks were mixed earlier on Wednesday, giving up its gains made on the previous day. Market sentiment remained so after several vaccine experts reported that U.S. biotech firm Moderna had not provided sufficient information on the efficacy of its potential COVID-19 vaccine. Stocks saw a boost on Tuesday after Moderna revealed on Monday that […]

Central banks may need to increase quantitative easing programs according to an analysis from JPMorgan Chase & Co. The investment firm’s report resonates with the conclusion by Goldman Sachs Group strategists of limiting bond yields.    The expected increase of this year’s $2.1 trillion supply could offset the $1.9 trillion demand to $200 billion, the […]

The euro firmed on Wednesday following France and Germany’s proposal for a common fund in Europe’s hardest-hit regions in the crisis, while the yen neared to a five-week low despite risk appetite. The euro rose 0.15% to 1.0940 against the dollar. It traded at 1.0615 per Swiss franc. It stood at 118.20 on the yen, […]

Wednesday morning saw gold climb after hopes arose in news of a possible vaccine for the coronavirus being expedited on Tuesday. However, vacccine experts were quick to rain on Moderna’s parade after the drug manufacturer announced of a potential cure for the virus with 45 trial participants getting an immune response. The experts’ report released […]

Oil prices fell on Wednesday as worries about the economic impact of the pandemic dwarfed demand recovery and output cuts. Brent crude futures for July contract dropped 0.3%, or 11 cents, at $34.54 per barrel. U.S. West Texas Intermediate crude futures for July delivery lost 0.4%, or 13 cents, at $31.83 per barrel. Oil prices […]

Australian retail sales reversed sharply in April after a record hike the month before. The record-breaking drop followed as lockdown restrictions aimed at containing the spread of the coronavirus dragged demand for apparel, travel, and dining. The Australian Bureau of Statistics released on Wednesday its initial forecast, showing that the retail sector dropped a total […]

Lenovo sales dropped sharply in the fourth quarter as disruptions brought by the coronavirus pandemic continue to ravage the economy. However, its latest profit reading managed to surpass expectations. The company’s net profit declined 64% to $43 million in the first quarter. The figure came out weak but still ahead of the $7.5 million sales […]