Economic news

South Korean screen manufacturer, Samsung Display said on Tuesday that it would be halting all production of LCD panels in South Korea and China by the end of 2020. The company is doing this in order to produce more advanced screen panels, according to its spokesperson. The extension of tech giant Samsung Electronics Co Ltd […]

E-commerce giant Alibaba Group Holding Ltd said that they had plans to buy a minimum of 10% of Yunda Holding Co Ltd according to two sources with knowledge in the matter. Alibaba has been leaning on buying the stake from Yunda’s major shareholders, the source said. Yunda’s controlling shareholders are Nie Tengyun and Chen Liying, […]

Asian shares recorded a positive but cautious increase on Tuesday as figures from China indicated that the factory sector regained momentum. MSCI’s broadest index of Asia-Pacific shares acquired 1.1% and Japan’s benchmark index Nikkei added 1.0% after a tumultuous start. South Korea’s .KS11 finished its session with 2% gains. China’s official manufacturing purchasing manager’s index […]

U.S. shares advanced on Monday, with gains partly from healthcare stocks as investors sought securities which have diminished in value and are resistant from measures aimed at slowing coronavirus contagion. The S&P healthcare sector .SPXHC clocked in a total of 4.67% gains. The upbeat mood was partly attributed from Johnson & Johnson (JNJ.N) and Abbot […]

Thai Airways International Pcl (THAI.BK) may for all time diminish the quantity of airplane types it sends once the coronavirus pandemic, said a senior government official on Monday. Thai Airways is landing 69 of its 82 planes following a drop in traveler volume and course cancellations from the expanded border limitations forced by the outbreak, […]

The British luxury clothing retail company Ted Baker (TED.L) on Monday promoted Chief Financial Officer Rachel Osborne as the new Chief Executive Officer, in substitute to Lindsay Page who resigned a year ago. The British organization said that the search for a chairman administrator is advancing well and that Sharon Baylay will still lead as […]

Indonesian stocks plummeted to a level that resulted in a temporary trading halt as the number of infected cases by the coronavirus locally and globally increased significantly. The Jakarta Composite Index plunged by 5%, ending its 2-day gain streak and triggering a 30-minute trading halt. The benchmark had previously soared by 15% in the past […]

The Hong Kong Dollar outperformed the U.S. Dollar, propelling it into a record gain above 0.51% for March in 16 years. The HK Dollar is perceived to climb further in the coming months as local borrowing rates are predicted to stay higher than that of the U.S. and a low interbank liquidity pool in Honk […]

The Reserve Bank of New Zealand (RBNZ) disclosed its decision of utilizing more instruments to increase the liquidity of business sector and to aid market activities in order to minimize disruptions brought by the novel coronavirus. RBNZ released pronouncement which implements Open Market Operation (OMO). Implementation of such will be every Tuesday and is expected […]

Asian shares underperformed on Monday and oil prices sunk further as pessimism emerged that the worldwide shutdown and restrictions could last longer, impacting the global economy despite central banks’ necessary measures.   Japan’s benchmark index Nikkei declined by 2.7% and Shanghai blue chips lost 1.8%. MSCI’s broadest index of Asia-Pacific shares outside Japan inched down […]