ASIA: A Hong Kong court is set to evaluate a winding-up petition for China Evergrande Group, a major Chinese property developer facing financial distress with over $300 billion in liabilities. The case, scheduled for January 29, involves offshore creditors seeking resolution, and its outcome may serve as a critical test for cross-border insolvency arrangements between […]
ASIA: The major Asian stock markets had a mixed day today: NIKKEI 225 increased 275.87 points or 0.77% to 36,026.94 Shanghai decreased 26.87 points or -0.92% to 2,883.36 Hang Seng increased 125.01 points or 0.78% to 16,077.24 ASX 200 increased 23.00 points or 0.30% to 7,578.40 Kospi increased 22.09 points or 0.89% to […]
ASIA: The Bank of Japan has decided to maintain its current monetary policy, keeping the short-term interest rate at -0.1% and leaving yield curve control parameters unchanged. The bank also adjusted its economic projections, lowering the inflation forecast for the fiscal year from April to 2.4% from 2.8%. Despite these changes, the statement provided […]
ASIA: China has announced a plan to boost its struggling economy by reducing the reserve ratio requirements for banks by 50 basis points, effective from February 5. This move, the first reduction in reserve requirements for the year, is expected to release 1 trillion yuan ($139.8 billion) in long-term capital. The decision was announced by […]
ASIA: The major Asian stock markets had a mixed day today: NIKKEI 225 decreased 291.09 points or -0.80% to 36,226.48 Shanghai increased 49.80 points or 1.80% to 2,820.77 Hang Seng increased 545.89 points or 3.56% to 15,899.87 ASX 200 increased 4.30 points or 0.06% to 7,519.20 Kospi decreased 8.92 points or -0.36% to 2,469.69 […]
ASIA: Chinese authorities are reportedly considering measures to stabilize the declining stock market, aiming to mobilize around 2 trillion yuan ($278.53 billion) from offshore accounts of state-owned enterprises. The funds would be used to create a stabilization fund, allowing the purchase of shares onshore through the Hong Kong exchange link. While Chinese stocks initially rose […]
ASIA: The major Asian stock markets had a mixed day today: NIKKEI 225 increased 583.68 points or 1.62% to 36,546.95 Shanghai decreased 75.94 points or -2.68% to 2,756.34 Hang Seng decreased 347.51 points or -2.27% to 14,961.18 ASX 200 increased 55.40 points or 0.75% to 7,476.60 Kospi decreased 8.39 points or -0.34% to 2,464.35 […]
ASIA: The major Asian stock markets had a mixed day today: NIKKEI 225 increased 497.10 points or 1.40% to 35,963.27 Shanghai decreased 13.50 points or -0.47% to 2,832.28 Hang Seng decreased 83.10 points or -0.54% to 15,308.69 ASX 200 increased 74.70 points or 1.02% to 7,421.20 Kospi increased 32.70 points or 1.34% to 2,472.74 […]
ASIA: The Bank of Japan is expected to maintain its ultra-loose monetary policy in the upcoming week. Governor Kazuo Ueda’s statements will be closely watched for hints on when the central bank plans to raise short-term interest rates from negative territory. Policymakers are inclined to wait a few more months to assess the broadening of […]
ASIA: In 2023, the Moscow Exchange reported that trading volume in Chinese yuan surpassed that of the U.S. dollar, marking a significant shift in currency dominance. This development is part of Moscow’s de-dollarization strategy in response to Western sanctions on its financial system. The increasing partnership between Moscow and Beijing, characterized as “no limits,” […]
