Economic news

On Monday, Japan’s outgoing finance minister, Taro Aso shared that he suggested the central bank slash its 2% inflation target. This came as the oil price slump from 2014 to 2015 took its toll on prices. Aso said the oil price slump was one of the factors behind the government’s reluctance to officially end deflation. […]

The dollar declined on Monday morning in Asia, but hovered near its peaks in recent weeks. The re-emergence of market concerns on China Evergrande Group’s debt crisis and the expected United States’ jobs report limited the safe-haven currency’s loss. The U.S. Dollar Index that measures the greenback against other major currencies nudged 0.04% lower to 94.052 by […]

Asian shares dropped on Monday amid worries over China’s property sector and inflation concerns. These uncertainties clouded upbeat U.S. data and positive news on new drugs that could help fight against COVID-19. Trading in shares of the overleveraged China Evergrande was put on hold when the property giant missed a key interest payment on its […]

Gold rose on Monday in Asia, reaching an almost two-week peak as the dollar weakened and offset bets that the U.S. Federal Reserve could start asset tapering soon. Gold futures added 0.15% to $1,761 by 10:21 PM ET (2:21 AM GMT) after climbing to $1,765.54, their highest level since September 23. The dollar, typically moving […]

Oil edged lower on Monday, ahead of an Organization of Petroleum Exporting Countries and allies (OPEC+) meeting that would discuss whether the recent rally in prices amid supply shocks and recovery from the pandemic will be sustained. Brent crude lost 0.2%, or 14 cents, at $79.14 per barrel by 0505 GMT. The benchmark contract climbed […]

The dollar was up in early European trade on Friday, on track for its best week since June.  The U.S. Dollar Index that measures the greenback against other major currencies climbed 0.1% to 94.315 by 2:55 AM ET (0755 GMT). The USD/JPY pair declined 0.1% to 111.16, and the EUR/USD pair dropped to 1.1579. The […]

China’s new home prices grew at the weakest rate since March 2020 in September.  The decline was due to a weak property market as a crackdown on speculation, including house purchase limits, persists. New home prices in 100 cities surged 0.14% in September, according to independent real estate research firm China Index Academy. It followed […]

Japan’s business climate strengthened for five consecutive quarters in September due to strong global demand. The headline index that measures big manufacturers’ sentiment stood at plus 18 in the third quarter. This was better than the plus 14 reading in the previous quarter, exceeding market forecasts of plus 13. Big non-manufacturers’ sentiment index rose to […]

Asia’s manufacturing activity remained generally sluggish in September. This was attributed to pandemic-driven plant shutdowns and China’s weak economic growth’s effect on the region. The official Purchasing Manager’s Index (PMI) showed an unexpected decline in China’s factory activity, owing to the country’s energy crisis. The private Caixin/Markit Manufacturing PMI showed better figures after a slump […]

Asian equities followed Wall Street’s sharp decline while bonds rallied on Friday as risk sentiment soured over a rising concern that the global inflation may continue even after global growth has peaked. In Japan, the Nikkei sank 1.86%, while the broader Topix dropped 1.95%. Australian stocks plummeted 2.05%, while the South Korean Kospi took a […]