Monday, August 31, 2015   

Mixed performance in Asian markets
(02-05 16:57)

Asian markets were mixed on Wednesday, with a rally on Wall Street giving Tokyo the impetus to claw back some of its losses in the previous session.
However the dollar slipped against the yen as investors remain on edge about the global economy, following a series of disappointing economic data and the Federal Reserve's decision to reduce its stimulus program.
Tokyo's Nikkei, which slumped more than four percent on Tuesday, rose 1.23 percent or 171.91 points to 14,180.38. The index was boosted by a surge in Panasonic after the computer giant said it had swung back into profit.
Seoul rose 0.24 percent, or 4.47 points, to 1,891.32 but Sydney lost 0.53 percent, or 26.8 points, to close at 5,070.3. Hong Kong fell 0.60 percent, or 128.39 points, to 21,269.38 as it reversed initial gains.
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 from China and the United States, suggesting softness in the global economy.
But Wall Street's three main indices, 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 Friday of 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. --AFP
   
Other Business breaking news:
Greece swears in caretaker cabinet (08-28 23:00)
US stocks lower at the open (08-28 21:45)
UBS pays penalty for disregarding bans on a terrorist’s deals (08-28 21:20)
US personal incomes and spending rise at modest rate (08-28 21:03)
Oil prices drop to US$42.35 (08-28 20:50)
Bank of China and AgBank report marginal earnings growth (08-28 19:25)
UK reports 0.7pc second quarter growth (08-28 18:31)
Shanghai stocks rally 4.8pc at close, Hang Seng gives up gains (08-28 16:25)
Dow leaps 200 points at open (08-27 22:34)
US reports broad-based 3.7pc growth sparked by consumer spending and business investment (08-27 22:05)

More breaking news >>

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