VW Pledges to Double Down On EVs in China, Urges Extension of NEV Tax Breaks
A senior Volkswagen AG (OTC:VWAGY) China executive reiterated on Saturday the German automaker’s commitment to quickening the pace of electrification in the world’s second largest economy despite issues such as intensified competition and weak demand. VW plans to increase the number of charging posts...
Asian Stocks Fall As Rate Hike Jitters Mount, China Leads Losses
Most Asian stock markets retreated on Thursday, tracking a weak lead-in from Wall Street as fears of rising interest rates and slowing economic growth kept traders wary of risk-driven assets. China’s Shanghai Shenzhen CSI 300 and Shanghai Composite indexes were among the worst performers...
Asia FX Edges Higher, Korean Won Surges Even As BOK Holds
Most Asian currencies rose on Thursday, recovering a measure of recent losses as the dollar saw some profit taking, with the won appreciating sharply even as the Bank of Korea held interest rates after 18 months of hikes. The South Korean won rose 0.6%...
Asian Stocks Rise, Nikkei At 33-Year High On Debt Ceiling Optimism
Most Asian stocks rose on Monday as markets cheered a tentative deal between U.S. lawmakers to hike the debt ceiling and avert a default, with Japan’s Nikkei racing back to near 33-year highs on improved risk appetite. The Nikkei 225 was the best performer...
Silicon Valley Bank is Largest Failure Since 2008 Crisis, Billions Stranded
Startup-focused lender SVB Financial Group became the largest bank to fail since the 2008 financial crisis on Friday, in a sudden collapse that roiled global markets, left billions of dollars belonging to companies and investors stranded. California banking regulators closed the bank, which did...
ECB Likely To Stick To Big Rate Hike Despite Banking Turmoil, Source Says
European Central Bank policymakers are still leaning towards a half-percentage-point rate hike on Thursday, despite turmoil in the banking sector, as they expect inflation will remain too high in coming years, a source told Reuters. Investors had begun to doubt the ECB's commitment to...
Asian Stocks Hit By Tech Rout, More Fed Cues Awaited
Most Asian stock markets sank on Wednesday tracking overnight losses on Wall Street, with technology-heavy indexes losing the most as caution kicked in ahead of the minutes of the Federal Reserve’s February meeting. Japan’s Nikkei 225, the Taiwan Weighted index, and South Korea’s KOSPI...
Asian Stocks Slip On Weak Chinese Data, Fed jitters Persist
Most Asian stocks edged lower on Thursday as weaker-than-expected Chinese inflation data pointed to a sluggish economic recovery in the country, while fears of a more hawkish Federal Reserve continued to chip away at sentiment. China’s Shanghai Shenzhen CSI 300 and Shanghai Composite indexes...
Gold Prices Dip From $2,000, Banking Crisis in Focus
Gold prices retreated on Monday as traders locked in profits after a strong run of gains, but remained near key levels hit last week as fears of a global banking crisis kept safe haven demand high. Bullion prices surged to the over $2,000 last...
Gold Pushes Further Past $2,000 As Fed’s Kasha Kari Flags Recession
Gold prices rose past key levels on Wednesday, boosted by safe haven buying after Minneapolis Federal Reserve President Neel Kashkari flagged a potential recession this year, with focus also turning to more U.S. economic cues due later in the day. Kashkari said that rising...