Saturday, November 1, 2014   

Asian shares rebound after sell-off
(02-05 10:48)

Asian markets were mostly higher on Wednesday, with a rally on Wall Street giving Tokyo and Hong Kong some impetus to claw back some of the losses they suffered in the previous session.
However, the dollar slipped against the the yen as investors remain on edge about the global economy following a string of disappointing economic data and the Federal Reserve's decision to reduce its stimulus program, AFP reports.
Tokyo's Nikkei, which slumped more than four percent on Tuesday, rose 0.38 percent by the break -- boosted by a surge in computer giant Panasonic after it said it had swung back into profit.
Hong Kong added 0.80 percent and Seoul climbed 0.57 percent but Sydney eased 0.15 percent.
Shanghai was closed for a public holiday.
Markets around the world have been sent into a tailspin in recent days following worse than expected manufacturing activity data form China and the United States suggesting softness in the global economy.
But Wall Street's three main indexes, which each saw losses of more than two percent at the start of the week, rebounded slightly Tuesday on bargain buying and solid corporate results, including from fast food giant Yum Foods and fashion retailer Michael Kors.
The Dow rose 0.47 percent, the S&P 500 added 0.76 percent and the Nasdaq climbed 0.86 percent.
Eyes are now on the release on Friday of crucial US non-farm payrolls data, which will give investors a better handle on the state of the world's number two economy.
Last month's results showing the number of jobs created in December was less than half that expected jolted markets as it suggested the economy was not as strong as expected just as the Fed began tapering its bond-buying stimulus.   
Other Business breaking news:
German retail sales post biggest drop for 7 years (10-31 17:59)
Hang Seng finishes higher (10-31 17:22)
IAG airlines group logs improving Q3 profits (10-31 17:21)
European stocks rally at open (10-31 16:47)
Panasonic says half-year profit dives (10-31 15:53)
Nikkei soars to seven-year high (10-31 15:44)
Japan Airlines H1 net profit slips (10-31 15:43)
Sony says half-year loss balloons six-fold (10-31 15:42)
RBS sets aside 400m pounds for forex probes (10-31 15:41)
BoJ chief says at 'critical moment' for exiting deflation (10-31 15:40)

More breaking news >>

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