Consumer price inflation in Hong Kong advanced to its ten-month high in February mainly caused by the difference in the Lunar New Year's timing which occurred not in January, but in February this year, the Census and Statistics Department reported on Thursday. The consumer price index accelerated to 4.4% on the month following a 3% increase in January.
Retail trades of Canada increased 1% to $38.9 billion during January, reimbursing the decrease of December. Gains were discovered in 7 of 11 sectors, indicating 52% of the total retail sales. The climb was affected by gain in automobile sales by 2.8% in January, partially offsetting the 6.5% decrease in December. The biggest fall, for the three consecutive months, was
The total number of people applying for jobless benefits in the world's largest economy increased last week, however a trend gauge fell to the lowest level in a five-year period suggesting an improvement in the labour market, the Labor Department reported on Thursday. Initial unemployment claims added 2,000 to 336,000 as expected, while 4-week moving average for claims dropped by
U.S. existing home sales increased modestly below initial forecast in February reaching the highest level since November 2009, a data released by the National Association of Realtors reported on Thursday. The reports said that existing home sales moved up by 8.0% to 4.98 million in February from January's 4.94 million, while economists expected jump to 5.01 million.
Economic downturn in the 17-nation bloc has deepened in the month of March- even before unsuccessful bailout plan for Cyprus- as private sector economic activity declined, the Markit Economics reported on Thursday. The report showed that the Flash Eurozone Composite Purchasing Managers' Index dropped from February's 47.9 points to 46.5 recorded in March.
U.K. equities dropped for a fifth consecutive day for a longest streak of losses in 10 months as manufacturing in the Eurozone shrank, indicating that U.K.'s largest trading partner faces difficulties to rebound from economic recession. The FTSE 100 Index retreated 0.6%, or 55.79 points, to 6,392.90 at 16:53 in London. All but two sectors posted losses. Eurasian Natural Resources
German private sector output increased at the slowest rate so far in 2013 after it reached a 19-month high in January, when the weaker performance was caused mainly by slower expansion of service sector and contraction of manufacturing sector. The Markit Flash Germany Composite Output Index dropped from 53.3 in February to 51.0 points recorded in March.
Robusta coffee traded in London bounced back from a three-day losing streak amid speculations that the fall of its prices gone too far after a drought that might reduce output of the variety bothering the world's largest producer Vietnam. May Robusta coffee futures advanced 0.7% to $2,167 a ton earlier on Thursday London session, while May Arabica coffee futures dropped
Benchmark stock index of Asian shares increased mainly due to gains of Japanese shares as the Bank of Japan's new governor will announce new monetary stimulus program and after a report revealed that manufacturing output in China accelerated more than expected. The MSCI Asia Pacific Index added 0.4% to 134.91 on Thursday, while the gauge without Japan's share fell 0.2%.
Hong Kong stocks retreated on Thursday ahead of corporate earnings reports, while broker downgrades dragged down China's internet giant Tencent holdings. The Hang Seng Index dropped 0.1% to 22,225.88 points. Four out of nine groups in the gauge posted losses with tech shares declining the most. China Resources fell 5.3% for a biggest decrease on Hang Seng after the Chinese
The British Sterling advanced to its highest level in three weeks versus the U.S. Dollar after an improvement in February retail sales, it also rose against the Euro amid weaker demand for the shared currency after the German manufacturing contracted. The Pound added 0.6% to $1.5185 after hitting it three-week high at $1.5204, while it gained 0.8% to 84.97 pence
Spanish and Italian government bonds increased for a second session in a row on Thursday amid speculation that the Europeans Central Bank may stimulate the 17-nation bloc's weak economy after unfavorable Eurozone's output data. Italy's 10-year yields dropped 0.06 percentage points to 4.57% earlier on Thursday London session and the Spanish 10-year yields fell 10 basis points to 4.88%.
South Korea's Won traded near the lowest in six months after doubts that Europe's debt crisis would extend was countered by the Fed indicating signs of further bond- buying program, meanwhile, government bonds climbed. The Won was at 1,115.97 per greenback, after touching 1,119.95 yesterday, the weakest since September.
The shared currency dropped toward the lowest in four months versus the greenback as a report indicated manufacturing output and services in the region shrunk, signaling that the economy finds it difficult to recover from recession. The Euro slid 0.2% to $1.2905, while Japanese Yen advanced 0.6% to 95.46 per Dollar. The Eurozone economy has suffered decline for five quarters
Private sector output in France decreased at the steepest pace in four years in the month of March mainly due to a drop of business activity in service sector and as manufacturing production fell notably on the month, the Markit Economics reported on Thursday. The report showed that the Flash France Composite Output Index was 42.1 points in March after
Trade balance of Switzerland's economy declined by less than expected in the month of February despite a 2.5% drop in exports of Swiss watches mainly due to a weakened demand in Asia, the Federal Statistical Office reported on Thursday. The report said that the country's trade balance decreased to a seasonally adjusted 2.098 billion Francs from downwardly revised 2.126 billion Francs in
WTI plunged after its biggest two-week gain as German manufacturing shrunk unexpectedly and Cyprus's president developed a new plan of securing a financial bailout from the Eurozone. WTI for May settlement dropped 71 cents to $92.79 a barrel and the volume of contracts traded was 38% lower than the 100-day average. In addition, Brent for May delivery slid to $108.41
All industry activity in the Asia's second-largest economy decreased by 1.4% on a monthly basis in January after it moved up 1.6% the month before, the Ministry of Economy, Trade and Industry showed in a report on Thursday. The report said that tertiary industry activity dropped 1.1% in January offsetting a 1.1% gain in December, while construction industry activity rose
China's manufacturing sector improved above economists' expectations in the month of March with the manufacturing output index climbing from 50.8 points in February to 52.8 recorded in March, the Markit Economics revealed in its survey. The Markit/HSCC purchasing managers' index rose to 51.7 in March after it recorded 50.4 the month before, while it was forecast to jump to 50.8
Merchandise trade deficit in Japan declined to 777.5 billion Yen in February compared to a forecast of a shortfall to 855.9 billion Yen, staying in the red for the eighth time in a row, the Ministry of Finance reported on Thursday. The report said exports fell annually by 2.9% to 5.284 trillion Yen and imports moved up annually by 11.9%
British retail sales topped economist`s expectations by gaining 2.1% from January. According to forecasts, there was 0.4% rise expected. Year to year, sales increased 2.6%. The Pound strengthened 0.5% to $1.5178 versus the Dollar after data was released."There is still some hope that the economy has avoided a triple dip," said Vicky Redwood, an economist at Capital Economics Ltd. in
U.S. shares snapped losses earlier this week, as the Federal Reserve will continue asset purchasing to stimulate growth in the world's largest economy and Euro-area policy makers are working on a new finance plan for Cyprus. The Dow Jones Industrial Average added 0.4%, or 55.91 points, to 1,588.71. All but two groups in the index edged higher. Consumer services group
The New Zealand Dollar gained 0.4% to 82.62 per U.S. Dollar in the end of Sydney trading session on Thursday. The kiwi increased versus the major peers, as data indicated the fastest domestic economy growth rate last quarter in last three years. GDP expanded by 1.5% and exceeded analysts' estimation of a 0.9% expansion. Also, demand for the currency was
The South Korean Won was little changed at 1,116.30 per U.S. Dollar in the morning of Seoul trading session on Thursday. The currency was close to a 1,119.95 level, which is the weakest point since 27th of September. Markets wait for more detailed information on Cyprus issues and expect that the U.S. monetary policies will not be tightened yet.