Stocks advanced in Asia on Monday, with Tokyo’s benchmark up 2.2 percent after the ruling Liberal Democrats won a stronger than expected majority in an election Sunday. Shares rose in all regional markets except Hong Kong. The regional gains followed further milestones on Wall Street, where the three major indexes set records. The S&P 500…
Wall Street Rally, Japan Election Drive Asian Shares Higher
November 1, 2021
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World Shares Retreat, Chilled by Decline on Wall Street
October 28, 2021
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Shares slipped Thursday in Europe and Asia after a retreat on Wall Street pulled the S&P 500 and the Dow Jones Industrial Average back from their latest record highs. Shares fell in London, Frankfurt, Tokyo, and Shanghai but rose in Paris. A steady flow of corporate report cards continues Thursday with industrial bellwether Caterpillar and…
Hong Kong’s Zero-COVID Policy Threatens Financial Hub Status: Finance Industry Group
October 25, 2021
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Asia’s largest financial lobby group is mounting pressure on Hong Kong’s government to rethink its zero-COVID policy and ease travel restrictions for international travelers, warning that the city’s status as a financial hub is at risk. The Asia Securities Industry and Financial Markets Association (ASIFMA) wrote an open letter (pdf) to Hong Kong’s Financial Secretary…
Hong Kong Banks to Disclose Related Property of Clients Charged Under Security Law
HONG KONG—Banks in Hong Kong are advised to disclose related property of clients who are found in breach of the city’s “national security law”, according to the latest guidelines from its banking association. The advice was introduced in an Oct. 22 update of the Hong Kong Association of Banks’ (HKAB) frequently asked questions in relation…
Stocks Stall, Oil Cools, Evergrande and Lira Fall
October 21, 2021
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LONDON—World stocks slipped on Thursday as the upbeat mood that carried the Dow Jones and bitcoin to records a day earlier ran out of steam, while a pause in the oil rally stalled rising global bond yields. Turkey’s lira was backsliding towards record lows with the central bank expected to chop its interest rates again…
Shares Gain on Earnings Optimism
October 20, 2021
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LONDON/TOKYO—Shares from Asia to Europe gained on Wednesday on rising optimism about the global economy and corporate earnings, while government bond yields rose and the yen fell to its lowest in four years against the dollar. The regional Euro STOXX 600 traded up 0.1 percent after opening in negative territory, amid a somewhat mixed picture…
World Shares Mostly Lower as Chinese Growth Data Disappoints
October 18, 2021
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World shares were mostly lower on Monday after China reported its economy grew at a meager 4.9 percent annual pace in July-September. Germany’s DAX declined 0.5 percent to 15,506.11 and the CAC 40 in Paris gave up 0.8 percent to 6,676.21. Britain’s FTSE 100 lost 0.2 percent to 7,216.79. The future for the Dow industrials…
Hong Kong Audit Watchdog Investigating Evergrande and PwC
HONG KONG—Hong Kong’s audit regulator said on Friday it was investigating China Evergrande Group’s 2020 accounts and their audit by PwC because it had concerns about the adequacy of reporting on whether it could continue operating as a going concern. Cash-strapped Evergrande has been scrambling to divest some assets to repay creditors knocking on its…
World Shares Mixed as Investors Await US Inflation Figures
October 13, 2021
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World shares were mixed on Wednesday as investors awaited the release of U.S. inflation data and upcoming corporate earnings. Stocks fell in Paris, London, Tokyo, and Sydney but rose in Shanghai and Frankfurt. Prices for oil and other energy have surged recently along with costs of other commodities. Shortages of semiconductors have meanwhile slowed output…
Evergrande Misses Third Round of Bond Coupon Payments, Intensifying Contagion Fears
October 12, 2021
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HONG KONG—China Evergrande Group on Tuesday missed its third round of bond payments in three weeks, intensifying market fears over contagion involving other property developers as a wall of debt payment obligations come due in the near-term. Some bondholders said they did not receive coupon payments totalling $148 million on Evergrande’s April 2022, April 2023,…
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