Economic news

SEOUL- South Korea’s February consumer inflation was monitored to be on a slow note mainly from dwindling demand brought by the coronavirus contagion and fluctuating oil prices, official records disclosed on Tuesday. The slow inflation indicated that there is an immediate need for interest cuts in order to solve consumption and growth problems. According to […]

SINGAPORE- The euro stabilized against the greenback on Tuesday. The session placed euro close enough to its peak in two months on hopes that the monetary easing in the United States will intensively run compared to other measures implemented in Europe.   The euro traded $1.1185 in overnight session, the highest performance since early part […]

SEOUL- Oil prices soared for a second day on Tuesday as investors grew enthusiastic on expectations that central banks will implement financial stimulus to equalize the impact of coronavirus contagion. In line with this, markets grew upbeat on the hopes that OPEC will impose deeper output reduction. Brent crude LCOc1 increased up to $1.48 a […]

Apple Inc. will pay $500 million to resolve litigation that accused the company of deliberately slowing down older iPhones in each new model launch, as a way to encourage owners to buy the newer model or replacement to old iPhones. The preliminary class-action settlement was revealed on Friday and is set to be approved by […]

South Korea’s economy expanded by a little more than estimated during 2019’s final quarter, attributed to higher domestic demand and capital investment. Asia’s fourth largest economy grew by 1.3% on seasonal adjustment in the October-December period. The figure was higher than the 1.2% forecasted rise, as shown in the revised GDP of the Bank of […]

The Dow Jones Industrial Average climbed more than 5% on Monday, while Nasdaq and S&P 500 both recovered 4% after the previous week’s deep sell-off over the virus spread. After the indexes gained a few minutes before the market closed, the Dow closed at its biggest one-day gain since 2009, while the S&P 500 and […]

Australian Dollar rises after reserve bank cuts official cash rate, major central banks pledge to support economy The Australian Dollar rose on Tuesday after the Reserve Bank of Australia (RBA) slashed its official cash rate (OCR) by 0.50% to 25 basis points. The Australian Dollar rose by 0.2% to 0.6553 by 11:35 PM ET (03:35 […]

Wall Street shrugs off virus concerns as tech and financial markets surge Wall Street shrugged off virus concerns and started on a bullish Monday with tech and financial markets taking the lead. The S&P 500 index as well as the Dow Jones Industrial Average rose to its highest by 4.6% and 5.1% respectively. The Nasdaq […]

India’s housing market seen to face difficulties in 2020 Market experts have predicted India’s housing market to face difficulties in the year as sluggish demand and a dull market sentiment may overwhelm government measures to bolster the country’s economy. Housing prices rose to its weakest 5.7% on average in 2018 with an underperforming market from […]

Japanese stocks decline as global central bank action accelerates global equities Japanese stocks declined with U.S. futures surrendering gains on Tuesday after a wave of interest on central banks taking action to bolster the economy resulted in an acceleration of global equities. The Australian Dollar rose despite the country’s central bank slashing its benchmark rate […]