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

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

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. studioØST | 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

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

Rate betting controls foreign exchange markets when the dollar is shining; euro, Aussie sag

The new £ 1 pound coin is seen alongside US dollar banknotes and euro banknotes on April 4, 2017 in Bath, England. Matt Cardy | Getty Images The US dollar hit a new high since March 2017 against the yen and traded close to a 16-month high against a basket of large peers on Wednesday … Read more

China’s economic data for October are announced ahead

SINGAPORE – Shares in the Asia-Pacific region rose in trading on Monday morning as investors look forward to Chinese economic data expected later in the day. Nikkei 225 in Japan rose 0.61% in early trading as shares in conglomerate SoftBank Group jumped 2%. The Topix index rose 0.65%. Preliminary estimates released on Monday showed that … Read more