NEW YORK/HONG KONG: China Evergrande Group, once China's top-selling property developer, inched closer to a key deadline where it risks a default on its bonds, but world markets were calmer as investors and analysts played down the threat of its troubles becoming the country's "Lehman moment."
While concerns about the spillover from a messy collapse roiled markets on Monday, U.S. stocks were flat on Tuesday. The U.S. dollar held relatively steady and the U.S.'s corporate bond market steadied.
"There's been a fair bit of concern about the possibility of contagion from the meltdown at Chinese property developer Evergrande," analysts at New York-based Bespoke wrote in a research note on Tuesday.Read More »
NEW YORK: Wall Street fell in a broad sell-off on Monday, with the S&P 500 and Nasdaq suffering their biggest daily percentage drops since May, as fear of contagion from potential collapse of China's Evergrande drove investors out of equities in a flight for safety.
The Nasdaq also hit its lowest level in about a month, but indexes pared losses just before the close to end well off their lows of the session. The Nasdaq was down more than 3% during the day.
Microsoft Corp, Alphabet Inc, Amazon.com Inc, Apple Inc, Facebook Inc and Tesla Inc were among the biggest drags on the Nasdaq and the S&P 500.
All 11 major S&P 500 sectors were lower, with economically sensitive groups like energy, which fell 3%, down the most. Defensive sectors including utilities were down the least.
InvestoRead More »
NEW YORK: World shares fell on Friday after a week of mixed economic data and fears over the stability of growth and Asian markets put the focus on the U.S. Federal Reserve's timeline for tapering asset purchases.
U.S. stocks ended sharply lower in a broad sell-off on Friday. All three major U.S. stock indexes lost ground, with the Nasdaq Composite Index weighed down as rising U.S. Treasury yields pressured market-leading growth stocks.
The 10-year U.S. Treasury note yield briefly touched 1.3855%, its highest level since July 14, while the dollar hit a three-week high.
MSCI's gauge of Read More »
Tuesday, 30 August 2016 SYDNEY: Asian shares bounced on Tuesday as doubts the Federal Reserve really would hike rates as soon as September undermined the dollar, while investors continued to count on more policy stimulus elsewhere in the world. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.4 percent, …Read More »
Friday, 12 August 2016 TOKYO: Asian stocks rose slightly in early Friday trade, taking a cue from Wall Street’s records overnight, before switching focus to a run of economic indicators from China. MSCI’s broadest index of Asia-Pacific shares outside Japan nudged up 0.1 percent. It was headed to gain 1.9 …Read More »
Tuesday, 1 August 2017 NEW YORK: Boeing Co said on Monday it set up an avionics group to make aircraft controls and electronics that compete with its own suppliers such as Rockwell Collins Inc, Honeywell International Inc and United Technologies Corp, whose shares fell. The world’s largest plane maker said …Read More »
Tuesday, 23 May 2017 NEW YORK: U.S. stocks rose on Monday, boosted by technology shares and by defense companies, which gained after the United States and Saudi Arabia signed a multi-billion dollar arms deal. Shares of General Dynamics, Raytheon, and Lockheed Martin all hit record highs early on but ended …Read More »
Monday, 17 April 2017 KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) is set to expand its liquefied natural gas (LNG) business in China, extending its reach to the country’s southern region while looking to expand the volume of supply to its existing buyers. In a media release yesterday, Petronas Vice President …Read More »
Friday, 3 March 2017 KUALA LUMPUR: Investors were quick to lock in gains early Friday after the FBM KLCI surged to a 10 month high the previous day, while the ringgit slipped against the US dollar again. At 10am, the KLCI was down 6.02 points or 0.35% to 1,709.65. …Read More »
Monday, 27 February 2017 HONG KONG: Asian stocks look set to edge lower for a second day on Monday as weak cues from U.S. share markets and declining European government bond yields on political worries push investors to take profits after a recent rally. Markets are holding in recent broad …Read More »