Economic news

February had seen South Korea’s factory activity accelerating at its most rapid pace in almost 11 years, a private poll showed on Thursday. In turn, the impressive expansion in production and new orders greatly supported the recovery in the manufacturing-heavy economy. The IHS Markit purchasing managers’ index (PMI) placed at 55.3 in February, jumping from […]

The Aussie and other risk currencies rose against the dollar on Monday as a sell-off in global bonds last week due to fears about tightened monetary policy appeared to have eased. The pound drew support from bets of a speedy vaccine-led pandemic recovery, while the safe-haven yen hit a six-month low against the dollar. The […]

Oil prices recovered over $1 on Monday after the U.S. House of Representatives passed a massive economic package, but a decline in Chinese factory activity growth in February capped gains. Brent crude futures for May contract were up 1.7%, or $1.07, at $65.49 per barrel. The April contract expired on Friday.  U.S. West Texas Intermediate […]

February had seen China’s factory activity growing at the slowest pace in nine months. The restricted expansion was mainly from the country’s subdued output as the manufacturing sector struggles with weak overseas demand and surging coronavirus cases.   The Caixin/Markit Manufacturing Purchasing Managers’ index (PMI) was read at 50.9 last month. The figure came to […]

Asian share markets performed positively on Monday, recording some gains as bond markets eased from a wild upswing seen last week. Meanwhile, investors had found enthusiasm as a massive stimulus package in the United States fuelled rebound-driven economic hopes. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.1% increase. The rebound came after […]

In a bid to double its annual revenue in 2023, Twitter Inc. announced on Thursday it will introduce new features and products on a fast-paced track to rejuvenate its business after years of idleness. After the announcement, Twitter stock improved 3.9% to close at $74.71, following an all-time high of $80.75. The social media giant […]

Liu Shijin, a policy adviser to the People’s Bank of China suggested on Friday that China’s Gross Domestic Product (GDP) could grow by 8-9% this year as it continues to show signs of recovery from the coronavirus pandemic. The projected growth, however, does not imply that the world’s second-largest economy has gotten back to a […]

January had seen Japan’s industrial output advance for the first time in three months. The expansion was mainly from an increase in global demand, indicating that the country’s economy has established a slight rebound from the coronavirus pandemic. Official data released on Friday showed that Japan’s factory output expanded 4.2% in January. The record was […]

Asian share markets had recorded a subdued performance, hitting a one-month low on Friday. This could be attributed to a decline in global bond markets, greatly affecting yields. In addition to this, investors’ sentiment was hurt by the prospect of distressed selling as heavy losses mounted. MSCI’s broadest index of Asia-Pacific shares outside Japan plunged […]

The dollar held gains made on Thursday after bouncing from three-year lows overnight following a surge in U.S. bond yields.  The yen dropped to a new six-month low against the dollar. The Aussie and the Canadian dollars dropped from three-year highs.  The 10-year Treasury yield rose above 1.6% overnight for the first time in a […]