BOK raises interest rates to 1% due to inflation concerns

South Korea’s central bank on Thursday raised its benchmark interest rate by 25 basis points and returned to the 1% interest rate range after 20 months, while upgrading this year’s inflation target. In a largely expected move, the Bank of Korea implemented an interest rate hike as a result of the last monetary policy meeting … Read more

Japan’s Nikkei 225 drops nearly 3% as Asia-Pacific markets slide amid renewed Covid fears

SINGAPORE – Shares in the Asia-Pacific region fell in Friday trading, with Japanese stocks losing regionally as fears of a new Covid variant dampened investor sentiment. The Nikkei 225 in Japan fell 2.69% while the Topix index fell 2.09%. Shares in SoftBank Group fell about 5% after a Bloomberg report that Chinese regulators have asked … Read more

Mixed stocks in Asia and the Pacific; Bank of Korea announces rate hike

SINGAPORE – Shares in the Asia-Pacific region were mixed in trading on Thursday as investors reacted to the Bank of Korea’s interest rate decision. South Korea’s Kospi fell 0.39% after the Bank of Korea raised its key interest rate by 25 basis points to 1%, a move largely expected by analysts in a Reuters poll. … Read more

Japan is down almost 2%; New Zealand dollar falls

SINGAPORE – Shares in the Asia-Pacific region were mixed on Wednesday, with Japanese equities losing out regionally. The Nikkei 225 in Japan fell 1.58% to close at 29,302.66, while the Topix index fell 1.16% to 2,019.12. The markets in Japan were closed on Tuesday due to a public holiday. South Korea’s Kospi fell 0.1% on … Read more

Mark Mobius on weaker Turkish lira investing in emerging markets

Turkey may not be the only country facing a currency crisis given the prospect of higher interest rates in the US, the emerging market emerging investor Mark Mobius said on Tuesday. “Yes, of course it can,” Mobius told CNBC’s “Closing Bell” in response to a question about whether the sharp depreciation seen in the Turkish … Read more

Singapore releases third quarter GDP update 2021, economic data

Views of the Singapore skyline. Facebook Facebook logo Sign up for Facebook to connect with Suhaimi Abdullah Getty SINGAPORE – Singapore’s economy expanded at a faster pace in the third quarter than originally estimated, while the government expects 2021 growth to reach around 7%. Singapore’s economy grew 7.1% in the third quarter compared to a … Read more

Webtoon-based books to continue global webtoon fever

“True Beauty” (left) and “Tower of God” (Naver Webtoon) Naver Webtoon’s beloved webtoon series “True Beauty”, “Tower of God” and “Doom Breaker” will be released in book form in the fall of 2022, the company said in a press release on Monday. American imprint Webtoon Unscrolled, launched by Wattpad Webtoon Studios, will release the printed … Read more

Biden chooses Powell to head the US Fed for another term

SINGAPORE – Shares in the Asia-Pacific region were mostly lower in Tuesday trading as investors watched market reactions as US President Joe Biden elected Jerome Powell for another term as chairman of the Federal Reserve. Hong Kong’s Hang Seng index fell 0.9%, while shares in mainland China were mixed, with Shanghai composition rising slightly while … Read more

China keeps benchmark lending rates unchanged

SINGAPORE – Asia-Pacific equities were mixed in trading Monday morning as China kept its benchmark lending rate unchanged. On the Chinese mainland, the Shanghai composite rose 0.26%, while the Shenzhen component rose 0.42%. On Monday, China kept its one-year borrowing rate (LPR) unchanged at 3.85%. The five-year LPR was also kept stable at 4.65%. The … Read more