Tuesday, January 19, 2016
Last week's harrowing plunge in U.S. stocks -- fueled by economic fears about mainland China and plummeting oil prices -- left investors anxious and alarmed. Some wondered if it signaled an approaching recession in the United States.
European shares got off to a strong start to the week Monday, helped by a rebound in the wobbly Shanghai Composite index, though other markets in Asia were mostly lower.
Brent crude fell below US$28 a barrel in Asia on Monday for the first time in more than 12 years on fears about a worsening supply glut after Western sanctions on Iran were lifted, allowing Tehran to resume oil exports.
Emerging market currencies got a cautious boost on Monday after the People's Bank of China (PBOC) raised the yuan currency's daily reference rate against the U.S. dollar.
Sunday, January 17, 2016
The new Asian Infrastructure Investment Bank will boost investment in the region while contributing to "fairer" global economic governance, mainland leader Xi Jinping said Saturday at the formal opening ceremony in Beijing.
Saturday, January 16, 2016
Plunging global energy prices forced BHP Billiton to Friday book a US$7.2 billion pre-tax writedown against the value of its struggling onshore U.S. assets, as the mining giant works to reign in costs and reduce risk.
China's Shanghai stock index sank to its lowest level in more than one year on Friday, as renewed concerns about the world's second-largest economy led global benchmarks lower. The price of oil fell again, hovering slightly above US$30 per barrel.
Oil prices eased in Asia Friday, with the commodity sitting around 12-year lows as dealers prepare for the return of Iranian exports to the market while U.S. stockpiles increase.
Emerging currencies climbed Friday as investors moved into riskier assets following a rebound on key equity markets and as oil prices rallied from multi-year lows.
Friday, January 15, 2016
Expansion in the Asia-Pacific region's developing economies has plateaued and can no longer be relied upon to drive global growth, the United Nations said Thursday.