Asia Shares Hit 4-Month Low on Risk of Endless Trade War
2019-05-23 05:34:55 UTC
SYDNEY (Reuters) - Asian shares broke support and caved to a four-month low on Thursday, as concerns grew that the Sino-U.S. trade conflict was fast morphing into a prolonged technology cold war between the world’s two largest economies.
Late Wednesday, Reuters reported the U.S. administration was considering Huawei-like sanctions on Chinese video surveillance firm Hikvision over the country’s treatment of its Uighur Muslim minority, according to a person briefed on the matter.
After the United States placed Huawei Technologies on a trade blacklist last week, British chip designer ARM has halted relations with Huawei in order to comp...
Brexit: The Irish border has become a sticking point
2018-10-15 16:25:14 UTC
LUXEMBOURG (AP) — Britain and the European were still both refusing to blink Monday over the question of the Irish border in Brexit talks — only two days ahead of a summit once seen as the moment when they would have to reach deal on Britain’s divorce from the bloc.
A flurry of diplomatic meetings over the weekend had raised hopes for a Brexit agreement, but they were derailed by the issue that has dogged the talks for months — how to ensure that no hard border is created between the EU’s Ireland and Britain’s Northern Ireland once Brexit happens on March 29.
The EU has proposed a “backstop” solution that would keep Northern Ireland ...
Dow Jones Worst Day Since 2011
2018-02-06 03:58:21 UTC
TOKYO (AP) — Shares tumbled in Asia on Tuesday after a wild day for U.S. markets that resulted in the biggest drop in the Dow Jones industrial average in six and a half years.
Japan’s Nikkei 225 index dropped as much as 5.6 percent in early trading Tuesday. By midday it was down 5.3 percent at 21,487.87. Hong Kong’s Hang Seng index lost 4.4 percent to 30,819.25 and Australia’s benchmark S&P ASX 200 had skidded 2.9 percent to 5,852.20. South Korea’s Kospi declined 2.9 percent to 2,418.79 and the Shanghai Composite index was off 2.2 percent at 3,412.37.
All other regional markets were lower.
The losses in Asia tracked the Dow’s 1,17...
Dollar Slides to 3-year Low as Euro Gains
2018-01-24 07:28:05 UTC
SINGAPORE (Reuters) - The dollar slid to three-year lows against a basket of major peers on Wednesday.
The euro climbed to as high as $1.2335 EUR=, its strongest level since December 2014, and was last up 0.2 percent at $1.2318.
Euro zone consumer confidence jumped much more than expected in January, data from the European Commission showed on Tuesday, helping to support the common currency.
Investors are also focusing on the European Central Bank’s meeting on Thursday for clues on the outlook for monetary policy.
The euro has rallied this year, boosted by growing optimism that a strengthening economy would prompt the ECB to si...
Bitcoin extended its sharp tumble of the past 24 hours
2018-01-17 17:16:08 UTC
(Reuters) - Bitcoin extended its sharp tumble of the past 24 hours, skidding more than 20 percent on Wednesday in a rapid downturn in fortunes as investors were spooked by fears regulators might clamp down on an asset whose value has skyrocketed in the past year.
Bitcoin, which skyrocketed nearly 2,000 percent last year and hovered near a peak of $20,000 (14,499.06 pounds), slipped below $10,000 on the Luxembourg-based Bitstamp exchange on Wednesday, adding to a 20 percent slump over the last three days.
South Korea, Japan and China have all made noises about a regulatory swoop, and officials in France and the United States have vowe...
Down 35 percent: Bitcoin tumbled below $13,000
2017-12-22 07:47:50 UTC
TOKYO (Reuters) - Cryptocurrency bitcoin tumbled below $13,000 briefly on the Bitstamp exchange BTC=BTSP on Friday, down roughly 35 percent from its record top near $20,000 set at the start of the week.
It was last down 7 percent at $14,499 BTC=BTSP but fell as much as 14.7 percent earlier in the Asian day.
The cryptocurrency, which was at about $1,000 at the year’s start, had surged to a record high of $19,666 on Sunday in the lead up to exchange giant CME Group’s (CME.O) launch of its bitcoin futures. It has since lost about a third of its value.
“Keep in mind that bitcoin has gone up a lot this year, so a correction is always l...
Bitcoin loses 20 percent of its value in less than 24 hours
2017-11-30 20:57:52 UTC
LONDON (Reuters) - Bitcoin slid to as low as $9,000 in volatile trade on Thursday, having lost more than a fifth of its value since hitting an all-time high of $11,395 on Wednesday.
The cryptocurrency fell as much as 8 percent on Thursday on the Luxembourg-based Bitstamp exchange to hit $9,000 exactly, marking a fall of well over $2,000 in under 24 hours. It then edged back up to trade at around $9,400 in the hour that followed, still down roughly 4 percent on the day. (<a
href="http://pdf.reuters.com/pdfnews/pdfnews.asp?i=43059c3bf0e37541&u=2017-11-30T025232Z_GFXEDBU15BKAE_1_RTRGFXG_BASEIMAGE.PNG"><i><strong>Graphic: Bitcoin searches ...
Bitcoin tops an all-time high above $10,000
2017-11-29 06:11:39 UTC
NEW YORK (Reuters) - Red-hot bitcoin soared through an all-time high above $10,000 on Wednesday, taking its gains to more than 900 percent so far this year, the most of any asset class.
Despite widespread scepticism of many veteran bankers and fund managers, it is being propelled by a continued influx of retail buyers as well as promises of bitcoin futures opening the door to institutional investors, analysts said.Created in 2009, bitcoin tracks the ideas set out in a whitepaper by an individual or group of individuals called Satoshi Nakamoto, whose true identity has yet to be revealed. It promises lower transaction fees than traditiona...
Strong German Growth Data Lifts Euro
2017-11-14 22:08:49 UTC
NEW YORK (Reuters) - The euro was set for its strongest session in more than four months on Tuesday, boosted by strong economic growth in Germany, but world stocks fell for the fourth straight day as oil prices fell and investors worried about U.S. tax reform.
U.S. Treasury two-year note yields climbed to a nine-year peak while long-dated debt yields fell, flattening the yield curve flattened for a second straight day, while investors braced for a Federal Reserve December rate hike.
In Germany, a 0.8-percent third-quarter growth reading beat forecasts and showed the economy expanding at annualized rates of more than 3 percent.
Bitcoin surged to a record high of more than $6,000
2017-10-20 20:12:57 UTC
NEW YORK (Reuters) - Bitcoin surged to a record high of more than $6,000 on Friday, pushing its market capitalization to $100 billion at one point, as investors continued to bet on an asset that has a limited supply and has paved the way for a whole slew of crypto-currencies.
The original virtual currency has gained over 500 percent this year, more than any other tradable asset class. Bitcoin though is very volatile - posting gains and losses as high as 26 percent and 16 percent respectively on any given day.
On Friday, bitcoin hit a record peak $6,000.10 BTC=BTSP on the BitStamp platform, and was last at $5,964.24, up 4.7 percent on...
North Korea Missile Test Jolts Investors: U.S. Stocks Drop
2017-08-29 14:07:59 UTC
(Reuters) - The Dow fell more than 100 points at the open on Tuesday as North Korea’s missile test over Japan prompted President Donald Trump to warn that “all options are on the table”, triggering a flight to safety among investors.
The missile, tested early on Tuesday, flew over Japan and landed in the Pacific about 735 miles off the northern region of Hokkaido, a rare occasion when North Korea fired projectiles over mainland Japan.
“Threatening and destabilizing actions only increase the North Korean regime’s isolation in the region and among all nations of the world. All options are on the table,” Trump said in a statement.
Hottest Tech startups don't need venture capital money
2017-07-24 07:00:59 UTC
NEW YORK (Reuters) - U.S. venture capital firms lining up for a slice of the burgeoning digital currency market are grappling with a novel challenge - some of the hottest tech startups that sell the coins just don't need their money.
Only a few years ago, digital currency entrepreneurs, like other Silicon Valley peers, had to line up to pitch their ideas to venture capitalists, who controlled their destiny as virtually the only source of funding.
So-called initial coin offerings (ICOs), where new tech companies using blockchain technology can raise millions quickly by creating and selling digital "tokens," with no regulatory oversigh...
Solid European economic outlook kept euro strong against dollar
2017-07-21 04:12:59 UTC
TOKYO (Reuters) - Concerns about Trump's inability to push the US economy and strong global growth are weakening the dollar.
The euro held near two-year highs against the dollar on Friday after the head of the European Central Bank said tapering of its stimulus will be on the table this autumn, while a solid global economic outlook kept Asian share prices near decade highs.
While ECB President Mario Draghi set no date for changes to the bond-buying plan, investors took his comments on Thursday as confirming their expectations that the discussions would lead to monetary tightening next year.
"Although bond markets didn't take his c...
US Dollar falls to lowest level in 2017
2017-07-17 21:08:40 UTC
NEW YORK (Reuters) - The U.S. dollar hit its lowest level against a basket of major currencies in 10 months on Monday and the Australian dollar hit a more than two-year high on strong Chinese economic data and doubts that the Federal Reserve would raise interest rates again this year.
China's second-quarter gross domestic product topped forecasts with a rise of 6.9 percent on the year, while retail sales and industrial output from the world's second-largest economy were both strong.
The data boosted the Australian dollar given the country's trade relationship with China, analysts said. The Aussie shot to a more than two-year high of ...
US auto industry has been bracing for a downturn
2017-07-03 16:51:23 UTC
The U.S. auto industry has been bracing for a downturn after hitting a record 17.55 million new vehicles sold in 2016. A glut of nearly new used vehicles poses competition for new vehicle sales and automakers have relied increasingly on high consumer discounts and loosened lending terms.
Major automakers on Monday posted better-than-expected U.S. new vehicle sales figures for June, led by the major Japanese automakers whose stronger figures offset drops at U.S. automakers.
Automakers' shares rose as early tallies of industry figures showed sales either flat or up marginally, compared with Wall Street expectations for a fourth straigh...
Should I buy euros now or later?
2017-06-09 23:19:33 UTC
LONDON — The UK currency has experienced significant volatility in the fallout from the General Election.
The Conservatives failed to secure a majority in the contentious vote, leaving the nation grappling with the result of a hung parliament.
Sterling is buying €1.14 after dropping sharply overnight to €1.13. It still has a climb ahead to reach yesterday's high of €1.16 but the currency has shown some signs of recovery.
The result of a hung parliament has rattled the market due to the significant uncertainty which now lies in the days to come.
Investors were forecasting a majority government, which prompted expectations of ...
Trudeau vows to stand up for Canadian interests against Trump
2017-04-25 17:13:52 UTC
OTTAWA — Prime Minister Justin Trudeau vowed to stand up for Canadian interests on Tuesday after the U.S. imposed new tariffs on softwood lumber and trade tensions between the two countries escalated, sending the Canadian dollar to a 14-month low.
While the currency fell, shares in Canadian lumber companies rose as the level of the new tariffs came in at the low end of what investors were expecting.
The United States will impose preliminary anti-subsidy duties averaging 20 percent on imports of Canadian softwood lumber, Commerce Secretary Wilbur Ross said on Monday, escalating a long-running trade dispute between the two neighbors.
Global Stocks Slide, Treasuries and Yen Up
2017-04-11 05:04:09 UTC
Asian stocks fell in choppy trade on Tuesday as the political tinderbox in the Middle East and the Korean Peninsula added to uncertainty over the looming French vote, pushing edgy investors into safer assets such as the yen and Treasuries.
Oil continued its steady climb on supply concerns in the wake of U.S. missile strikes on a Syrian air base last week, and a shutdown at a Libyan oilfield.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS swung between gains and losses and was last down 0.4 percent.
"Most Asian markets could be seen with moderate changes this morning amid a mixed trend," said Jingyi Pan, m...
US dollar struggles near a four-month low against the yen
2017-03-22 03:58:12 UTC
By Shinichi Saoshiro |
TOKYO — The dollar struggled near a four-month low against the yen on Wednesday as a bout of investor risk aversion hit U.S. stocks and sent U.S. Treasury yields sharply lower, eroding the greenback's interest rate allure.
The U.S. currency was off 0.1 percent at 111.670 yen after plumbing 111.430, its lowest since Nov. 28.
The dollar also nursed large losses against the euro. On Wednesday, the common currency was a touch weaker at $1.0794 after surging 0.6 percent overnight to $1.0819, its highest since Feb. 2.
"A key factor behind the latest currency developments was the big drop in U.S. equities. The ...
Euro marks strongest gain against dollar in one month
2017-03-13 01:51:24 UTC
The euro edged up near a one-month high against the dollar in Asian trading on Monday, after some European Central Bank policymakers raised the possibility of hiking interest rates before bond purchases end.
The euro was up 0.1 percent at $1.0691 EUR=, after rising as high as $1.0699 on Friday, its highest level since Feb. 9.
Some members of the ECB's Governing Council discussed the possibility of higher interest rates at last week's policy meeting, but talk on the issue was brief and did not receive broad support, said two sources familiar with the discussion.
Euro's gains were limited on expectations that the U.S. Federal Reserv...
Euro jumps to three- week high against the dollar
2017-03-10 19:44:15 UTC
The euro jumped to a three-week high against the dollar on Friday after a report that the European Central Bank had discussed the possibility of raising interest rates before the end of its quantitative easing program.
Sources told Reuters some ECB policymakers had suggested hiking rates from their current record lows before the end of QE stimulus, but that the discussion was brief, and there was not broad support for the idea.
The euro rose as high as $1.0677 EUR= against the dollar, its strongest since Feb. 16. It was last at $1.0666, up 0.85 percent.
"I have no idea whether the reports are correct or not but it shows where we a...
Dollar continues under pressure amid Trump protectionism
2017-01-24 06:44:36 UTC
Dollar struggles, pressured by worries over Trump protectionism.
The dollar wallowed near seven-week lows in Asian trade on Tuesday, pressured by concerns about the impact of U.S President Donald Trump's protectionist trade stance.
The dollar index, which tracks the greenback against a basket of six major peers, slipped 0.1 percent to 100.040 .DXY, after falling to 99.899 on Monday, its lowest since Dec. 8.
The dollar was up 0.1 percent at 112.84 yen JPY= but notched a low of 112.52 earlier in the session, its weakest since Nov. 30, and well below its overnight high of 114.45.
Trump formally withdrew the United States from the ...
Asia stocks, dollar slip amid U.S. election tension
2016-11-03 04:50:54 UTC
Asia shares joined the U.S. dollar on the defensive on Thursday as the nail-biting U.S. presidential race saw the S&P 500 suffer its longest losing streak in five years as investors sailed to safer harbors.
Tensions were aggravated by media reports that some agents at the FBI had wanted to press ahead with an investigation of the Clinton Foundation, but senior officials at the agency and at the Justice Department did not think much of the evidence.
Dealers said Asian markets were reacting with caution to the reports, but there was some precautionary selling of dollars.
The U.S. currency slipped 0.5 percent to 102.75 yen JPY=, whil...
Asia stocks shaky as FBI review of Clinton emails rattles markets
2016-10-31 07:18:13 UTC
SINGAPORE (Reuters) - Most Asian stocks struggled higher on Monday but investors were rattled by news that the FBI is planning to review more emails related to Democratic presidential candidate Hillary Clinton's private server, just a week before the election.
European markets also looked set for a shaky start, with financial spreadbetter CMC Markets expecting Britain's FTSE 100, France's CAC 40 and Germany's DAX <.GDAXI to all open down 0.1 percent.
Federal investigators have secured a warrant to examine newly discovered emails, a source familiar with the matter said on Sunday.
Clinton had opened a recent lead over her unpredicta...
Bank of England records no dissent over lowering bank capital buffer after Brexit vote
2016-07-12 08:50:19 UTC
No Bank of England policymakers objected to a decision to cut banks' capital requirements at a meeting in the wake of Britain's vote to leave the European Union, a record of their meeting showed on Tuesday.
Last week the BoE's Financial Policy Committee lowered a capital requirement for banks, reversing a decision made in March in an attempt to cushion the expected shock to Britain's economy from the referendum result.
"As the outlook evolved, the FPC stood ready to take any further actions deemed appropriate to support financial stability," the record said in language which echoed its half-yearly Financial Stability Report from July...