The Hang Seng Index opened 1.5% higher, climbing 256.71 to 17,148.54, as stocks gain for the third straight day in Hong Kong. Alibaba Group Holding Ltd. contributed the most to the index gain, increasing 2.2%. Semiconductor Manufacturing International Corp. had the largest increase, rising 8.2%. In early trading, 76 of 82 shares rose, while 3…
China’s consumer prices rose at a faster-than-expected rate in July, while producer deflation persisted, as Beijing ramps up support for its frail consumer sector in the face of a sputtering economic recovery. The data comes in the wake of shrinking manufacturing activity and raised concerns about the outlook for exports at a time of soft…
The dollar retreated in Asian trading Friday as risk appetite improved in the region following strong gains on Wall Street overnight. The yen fluctuated between gains and losses. USD/JPY was little changed at 147.18, paring an earlier 0.4% advance; the pair has been whipsawed this week, falling as low as 141.70 as yen-carry positions were unwound…
The yen was choppy on Thursday after a sharp drop in the previous session in a volatile week that has left sentiment fragile as investors weigh the unwinding of popular carry trades and ponder the rate path Japan’s central bank is likely to take. The yen was last slightly stronger at 146.09 per dollar, having…
Australia’s central bank is “vigilant” over upside risks to inflation and won’t hesitate to raise interest rates further if needed, Governor Michele Bullock said, reinforcing her hawkish rhetoric from earlier this week. “I know this is not what people want to hear,” Bullock said Thursday in a speech in her hometown of Armidale in northern New South Wales. “But…
Gold rose following a five-day drop — the longest run of declines in almost six months — as traders took their cues from wider markets after a bumpy ride, with the US dollar and Treasury yields both weakening. Bullion for immediate delivery climbed toward $2,395 an ounce after shedding almost 3% in the losing streak. With Asian…
