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October, 1, 2016

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Business > Asia > Asian Market
Oil prices tumbled in Asia Friday as doubts emerged over the long-term success of a surprise OPEC agreement to cut output and stabilize the oversupplied market.
 
Rejecting TPP a risk to national security: Kerry
Secretary of State John Kerry urged Congress on Wednesday to adopt a landmark 12-nation Asia-Pacific trade deal, arguing that rejection would badly damage U.S. credibility and national security.
 
ADB expects developing Asia to remain on course
Developing economies in Asia are holding steady and will grow at the earlier forecast rate of 5.7 percent this year and next, buoyed by resilience in the region's two largest economies, China and India, the Asian Development Bank said Tuesday.
 
Singapore court grants reprieve to Hanjin
Singapore's High Court has granted a temporary reprieve to troubled South Korean giant Hanjin, allowing its ships to sail into the city-state without fear of being impounded as it struggles to settle a US$5.37-billion debt.
 
South Korean stocks led most Asian markets lower Friday after the North conducted another nuclear test, while trading was also hit by worries over global central bank policy easing.
 
Vietnam and Thailand strike rice deal with the Philippines
Thailand and Vietnam have won deals to supply a total of 250,000 tons of rice to the Philippines after the two countries reduced their selling prices to suit Manila's budget.
 
Asian markets down in global retreat
Most Asian markets tumbled for a second day Wednesday, extending a global retreat, with Tokyo taking a hit from a strong yen after Japan's economy-boosting stimulus program fell flat with investors.
 
Most Asia markets rose Tuesday but Tokyo sank on a strong yen as traders await central bank meetings in Japan and the United States this week.
 
Asian markets mostly rose Thursday following a fresh Wall Street record as traders are pumped up by strong corporate results and expectations of fresh stimulus.
 
Developing Asian economies to grow 5.6% in 2016: ADB
The Asian Development Bank said Monday it had cut its 2016 growth projection for developing economies in Asia and the Pacific to 5.6 percent, down from its earlier forecast of 5.7 percent, but added that the economies' performance will remain solid and help offset softness from the U.S. economy and near-term market shocks from Britain's vote to exit from the European Union.
 
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