Chinese Tech Stocks Rise, Tencent Surges On Strong FY Results
Major Chinese technology stocks rose on Thursday, with shares of Tencent up sharply after the internet giant logged stronger-than-expected annual earnings, while less hawkish signals from the Federal Reserve also aided sentiment. Tencent Holdings Ltd (HK:0700) rose over 6% to HK$368.40 a share, and...
Asia FX Dips, Dollar Steadies As Fed Meeting Looms
Most Asian currencies retreated on Tuesday, while the dollar firmed slightly as markets hunkered down ahead of a Federal Reserve interest rate decision this week, while lingering fears of a banking crisis also weighed on sentiment. The South Korean won was the worst performer...
Dollar Edges Lower; Chinese Growth Data Boosts Risk Sentiment
The U.S. dollar slipped lower in early European trade Tuesday, handing back some of the overnight gains as healthy Chinese growth data boosted risk sentiment. At 02:05 ET (06:05 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies,...
Apple CEO Praises China’s innovation, Long History of Cooperation on Beijing Visit
Apple (NASDAQ:AAPL) CEO Tim Cook on Saturday used his first public remarks on his visit to China to praise the country for its rapid innovation and its long ties with the U.S. iPhone maker, according to local media reports. Apple CEO Tim Cook on...
Asia FX Firms, Dollar Slumps as SVB Turmoil Clouds Rate Hike Outlook
Most Asian currencies rose on Monday, while the dollar tumbled to near three-week lows as a potential banking crisis in the U.S. saw markets drastically alter their expectations for more interest rate hikes by the Federal Reserve this year. Most regional currencies also sharply...
Gold Prices Surge As U.S. Bank Woes Taper Rate Hike Expectations
Gold prices hit a one-month high on Monday, recovering sharply from recent losses as markets bet that a burgeoning banking crisis in the U.S. will push the Federal Reserve into softening its hawkish rhetoric in the coming days. The dollar fell sharply against a...
Oil Prices Rise On Weak Dollar As Markets Price in Less Hawkish Fed
Oil prices rose slightly on Monday as a brewing banking crisis in the U.S. spurred expectations that the Federal Reserve will soften its hawkish rhetoric in the coming months, although caution still persisted over a potential economic fallout. Oil markets benefited from weakness in...
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...
European Stocks Lower; Banking Sector Slumps After Swiss Consolidation
European stock markets traded sharply lower Monday, with the banking sector hard hit in the wake of the deal to consolidate the two Swiss banking giants, UBS and Credit Suisse . At 05:00 ET (09:00 GMT), the DAX index in Germany traded 0.7% lower,...
Asia FX Dips, Dollar Steadies As Fed Meeting Looms
Most Asian currencies retreated on Tuesday, while the dollar firmed slightly as markets hunkered down ahead of a Federal Reserve interest rate decision this week, while lingering fears of a banking crisis also weighed on sentiment. The South Korean won was the worst performer...