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July, 1, 2016

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Business > Global Markets
The U.S. dollar held gains against the yen Wednesday after risk appetite among Asian investors jumped on the back of rising expectations of a rise in U.S. borrowing costs.
 
Oil prices edged towards US$50 a barrel in Asia Wednesday after a larger-than-expected dip in U.S. stockpiles resulting from wildfires that have disrupted oil production in Canada.
 
Swiss approve bank dissolution after BSI found linked to fraud
Swiss financial regulators approved Tuesday the dissolution of Lugano-based BSI Bank over its links to a corruption scandal engulfing Malaysia's Prime Minister Najib Razak.
 
Asian stock markets fell in thin trading Tuesday as falling oil prices deflated energy shares, while Singapore said it was kicking out a Swiss bank linked to Malaysia's 1MDB.
 
Emerging Asian currencies, from the Malaysian ringgit to the South Korean won, weakened Tuesday as falling oil prices and a drop on regional equity markets dampened demand for riskier units.
 
Oil extended losses in Asia Tuesday as a stronger U.S. dollar and progress in controlling wildfires in Canada's crude-producing Alberta province dampened prices.
 
Asian stock markets moved cautiously Monday as investors sat tight awaiting fresh news about a possible U.S. rate rise and after G-7 finance ministers pressed Japan not to weaken its currency.
 
Oil prices dipped in Asia Monday after Iran said it has no plans to join any output freeze by other major producers.
 
The yen picked up Monday after the G-7 wagged its finger at Japan over threats to weaken its currency, reminding Tokyo of previous commitments not to intervene in forex markets.
 
Global stock markets drifted higher on Friday as investors restored calm a day after worries about the U.S. Federal Reserve's rate hike signals prompted sell-offs.
 
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