South African rand hits new Covid fear, variant

South African rand. RapidEye | iStock | Getty Images The South African rand fell sharply against the dollar on Friday after a new variant with many mutations was discovered in the country. The currency fell to as low as 16.2391 against the dollar during Asia’s opening hours on Friday and last traded about 1.6% weaker … 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

Turkey’s uncertainty leaves little appeal for investors, says strategist

Turkish President Recep Tayyip Erdogan (C) makes a gesture while giving a speech on stage, with on the basis of banknotes of the Turkish lira, during the annual evaluation meeting for the year 2019. Ankara, 16 January 2020. ADEM ALTAN | AFP The unpredictability of Turkey’s fiscal and monetary policy means investors should stay away … 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

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

The Turkish lira plunges to historic lows after Erdogan launched the sale

Turkish President Recep Tayyip Erdogan will attend a press conference in Budapest, Hungary, on November 7, 2019. Bernadett Szabo Reuters Turkey’s lira fell to another record low of 12.49 against the dollar on Tuesday, a level that was once unmanageable and far beyond what just last week was considered the “psychological” barrier of 11 against … Read more

The dollar hits a new high as Powell renames companies high-stakes Fed bets

US dollar bills are in a stack. Snap decision | Photographer’s Choice RF | Getty Images The dollar hit a new four-and-a-half-year high against the yen on Tuesday after Federal Reserve Chairman Jerome Powell was nominated for a second term, reinforcing the bid that US interest rates would rise next year and deviate from Japan. … 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

The dollar is shining, the euro is suffering, while Covid fears are flaring across Europe

US dollar banknotes are arranged for a photograph on September 7, 2017 in Hong Kong. studioƘST | Getty Images The US dollar, which is a haven, traded close to a 16-month high against the euro on Monday due to growing anxiety over the impact of rising Covid-19 infections in Europe, where Austria reintroduced a full … Read more