Asian stocks recoup early losses

Note: This section contains information in English only.
Source: Marketwatch
On Thursday Asia equities erased most of losses linked with European debt crisis, as investors faced optimistic company valuations. Hong Kong's Hang Seng Index outweighted early losses, however, still traded down 0.9 whereas China's Shanghai Composite index closed flat. Korea's Kospi added 0.2%, Australia's S&P/ASX 200 index gained 0.5% and Japan's Nikkei Stock Average advanced 0.3%.

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Thu, 17 Nov 2011 08:09:34 GMT

Fitch Ratings warns US from contamination risk

According to Fitch, US banks are strongly exposed to Europe default if region's crisis accumulates and expands beyond Greece, Italy, Ireland Portugal, and Spain (GIIPS). If the solution for Eurozone debt turmoil is not well timed and properly solved, then financial outlook for US banking industry might worsen, said Fitch. Currently six biggest US banks hold $50 bn in risky assets linked to GIIPS.

Wed, 16 Nov 2011 16:45:06 GMT

China refutes allegations about undervalued yuan

At recent APEC summit US president has accused China of undervaluing its currency to be more price competitive. China's Ministry of Commerce refuted these allegations as being unjustified. Many analysts claimed yuan is adequately priced and exchange rate of China's currency is not a cause for trade imbalance between US and China.

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