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August, 25, 2016

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Business > Global Markets
Fading expectations of a U.S. interest rate rise this year hit the U.S. dollar and boosted stocks in Asia on Monday, although Shanghai equities took a hammering from weak Chinese manufacturing data.
 
Oil prices edged up in Asia on Monday as the U.S. dollar weakened while bargain-buyers moved in following a recent sell-off but analysts warned a global supply glut and weak demand will temper gains.
 
The U.S. dollar tumbled against the New Taiwan dollar Monday, shedding NT$0.286 to close at NT$31.640, its lowest level in a year, as funds from abroad poured into the region, dealers said.
 
Emerging market currencies jumped against the dollar on Monday as weak U.S. growth data torpedoed speculation of an interest rate hike this year.
 
Shares in Taiwan rose more than 1 percent Monday to close back above the 9,000-point mark as fading expectations of an immediate interest rate hike by the U.S. Federal Reserve led more investors to put money into the market, dealers said.
 
China slams higher European steel tariffs as unjustified
Beijing has criticized new European tariffs on Chinese steel as "unjustifiable" protectionism coming just weeks after commerce ministers from G-20 nations pledged to promote free trade.
 
World oil prices descended this week to their lowest levels for more than three months, rocked by renewed worries about a global supply glut and increased production.
 
European stocks and the U.S. dollar slid Thursday after the Federal Reserve held interest rates and indicated it would take a slow, measured approach to any hikes.
 
Oil prices edged up in Asia Thursday after slumping for five-straight sessions to a three-month low after a surprise jump in U.S. stockpiles built on increasing worries about a global supply glut.
 
European and Japanese shares rallied Wednesday after Tokyo launched a massive stimulus package, with sentiment buoyed also by accelerating British economic growth and upbeat company results.
 
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