Economic news

SYDNEY- Asian shares recuperated from previous underperformance and managed to go back on track for three-week high as investor sentiment increased on Chinese efforts to minimize the impact of coronavirus contagion. However, Japanese stocks sunk down on risks brought by recession. Trading activity will ease as U.S. stocks and bond markets will temporarily stop operating […]

South Korea pledges emergency measures as virus outbreak in China affects economy Two of South Korea’s chiefs of economic policy pledged on Friday that they would deploy emergency measures to minimize the impact of the novel coronavirus on the country’s economy. Finance Minister Hong Nam-ki and Bank of Korea Governor Lee-Ju-yeol made the remarks at […]

Honda to resume auto production in China plants on February 21 Honda Motor Co. said on Friday that it is planning to resume operations in its auto-manufacturing plant in Wuhan, China on February 21. The planned operations schedule was delayed a week ago. Honda, currently Japan’s third-largest manufacturer of automobiles and auto parts, said that […]

Asian shares gained on Friday on course for its second straight week, as governments make provisions to dampen the effect of the coronavirus outbreak. MSCI’s index of Asia-Pacific shares outside Japan inched up 0.3%, lifted by gains in South Korea and Hong Kong. On the week, it was up 1.94%. Japan’s Nikkei lost 0.55%, hurt […]

The British government, particularly its financial sector, is hounded by a chain of threats after exiting the European bloc at the end of January. The finance minister’s subtle resignation is the latest addition to the British market’s compounding problems. Exchequer Chancellor Sajid Javid resigned on Thursday, with British Prime Minister Boris Johnson appointing Rishi Sunak […]

Japan’s policymakers prepare for a decline in GDP growth and the virus’ impact on consumption and production, warning of poor economic outlook. Executive Director Eiji Maeda of the Bank of Japan warned that weak export demands and low consumption may have hurt 2019’s final quarter GDP. Economy Minister Yasutoshi Nishimura said that the virus outbreak […]

Oil prices remained steady on Friday but are more likely to rake in more gains mainly from expectations that major oil manufacturers will implement larger oil reduction to aid demand slump in China, the world’s second-biggest oil importer. Brent crude futures LCOc1 lost 9 cents to $56.25 per barrel at exactly 0224 GMT. Such followed […]

TOKYO-The Japanese yen rose against the dollar on Friday as resurfacing concerns about the impact of the novel coronavirus aided safe-haven currencies’ performance. The yen held tight at 109.81 per dollar in Asian trading board on Friday, continuing its 0.25% gain from previous session. The euro continued to trade negatively hitting its multi-year of low […]

Global equity markets reached new highs as China reported the lowest new cases in two weeks. Investors hope for a shift in the market as Chinese medical adviser says virus can be contained in a few months. Total confirmed cases rose to 44,653, with 2,015 new cases reported, the lowest since Jan. 30. The report […]

Chinese stocks drop as Hubei virus cases reports double up Chinese stocks dropped amid a surge in the number of new people infected by the coronavirus were reported in the Hubei province.   Seen as the province at the center of the epidemic, Hubei raised the death toll to an additional 242 as well as […]