Hong Kong stocks closed flat on Thursday, halting their gains over the last two days, as financial blue chips extended their losses. The Hang Seng Index slipped 0.4% to22,682.57. Five out of nine groups in the benchmark index declined. Belle International, a footwear retailer, topped losses among all blue chip companies, as it slumped 3% to HK$14.94 and dragged down
The Swiss National Bank (SNB) spent nearly a third of the country's gross domestic product, 188 billion francs ($199 billion), in 2012 in order to enforce the currency cap to protect the economy, the bank showed in its Accountability Report on Thursday. The Swiss central bank's decision to maintain the floor of 1.20 francs per euro has helped the country
The Japanese central bank decided to maintain its monetary policy unchanged at a policy board meeting led by Gov. Masaaki Shirakawa on Thursday, leaving space for an aggressive monetary policy expected to be applied in order to boost the economy. The Bank of Japan will keep the loan rate in a range of 0.0%-0.1% with the size of the bank's
Factory production in Ireland went down in January following a modest improvement in December, the Central Statistics Office reported on Thursday. Year-on-year, manufacturing output at Irish factories dropped 3.1% reversing a 0.6% increase recorded the month before, while on a monthly basis, the production of factories decreased 1.9% in January following a 7.2% gain in December.
Unemployment of Greece declined in the month of December after recording its highest level the month before, a report released by the Hellenic Statistical Authority showed on Thursday. The unemployment rate went down from November's 26.6% to a seasonally adjusted 26.4% in the following month, while in December 2011 the jobless rate recorded 21.4%.
Standard and Poor's rating agency changed the rating outlook of Portuguese economy on Thursday as the country has better chances to get a support from the lenders in Europe. Portugal's long-term rating stayed unchanged at ‘BB' with the change of the economy's outlook from negative to stable. The country's economy is expected to shrink 1.5% in 2013.
Taiwan's export dropped notably in the month February mainly due to a steep decline of electronics, basic metals and chemical product shipment, a report released by the Ministry of Finance showed on Thursday. The export rate decreased by 15.8% in February, much more than was initially forecast at 8.1%, at the same time, imports fell 8.5% annually exceeding the expectations
Factory orders in Germany unexpectedly decreased in the month of January as the huge amount of debt in Europe weakened the demand for the shared currency, the Economy Ministry in Berlin showed in a report on Thursday. German factory orders dropped at the seasonally adjusted 1.9% in January compared to predictions of a 0.6% rise, following a 1.1% gain the
The Bank of England will face an important decision on Thursday when it has to choose whether to maintain the loan rate unchanged or loosen its monetary policy in order to stimulate the British economy. The poll released by Reuters showed a 40% chance of the bank's decision of more quantitative easing which pushed the Pound to its lowest level
Unemployment rate of Swiss economy stayed unchanged in line with economists' predictions at seasonally adjusted 3.1% in February, the State Secretariat for Economic Affair (SECO) reported on Thursday. Switzerland's jobless rate recorded the same level as in January, when it went up to 3.4%, while the total figure of registered unemployed people dropped by 2,157 to 146,001.
Iron ore price increased by 0.4% to $145.8 per dry ton Wednesday on the Steel Index in China. The price peaked at $158.9 on 20th of February and was the most expensive in more than one year period. However, investment banks Morgan Stanley and Deutsche bank say that price will face a bearish pressure, since the supply will drastically increase this year. According to estimations,
The Australian Dollar was higher by 0.2% to $1.0248 during Sydney trading session on Thursday. The currency rebounded after last week decline inspired by speculation that wider than expected trade deficit will not force the Reserve Bank to cut interest rates. The actual Australian trade deficit increased to 1.06 billion Australian Dollar in January.
U.S. shares continued their rally during Wednesday session, as the U.S. manufacturing sector data stayed steady and surprisingly strong gains in the U.S. private employment brought optimism back to the markets. The Dow Jones Industrial average added 0.41% to 14,311.6, extending its record-breaking run, the S&P 500 rose 0.24% to 1,543.41 and the Nasdaq Composite went up 0.01% to 3,224.6.
New orders for the U.S. manufactured goods declined notably in the month of January due to a substantial fall of transportation equipment orders, the Commerce Department reported on Wednesday. The report showed a 2.0% decrease of factory orders in the first month of 2013 following a 1.3% gain the month before, compared to a forecast of a 2.2% loss and
Employment in the U.S. private sector increased above economists' expectations in February, the Automatic Data Processing, Inc. reported on Wednesday. The report showed a gain of employment in private sector, which added 198,000 jobs in February after a January increase of 215,000 jobs, compared to estimated 173,000 jobs in addition to 192,000 initially forecasted for January.
The Japanese currency depreciated against the U.S. Dollar on Wednesday, touching the lowest level since May 2010, as a report released by the ADP Research Institute showed more workers were hired by U.S. companies than was initially forecasted. The Yen fell 0.7% to 93.92 per U.S. Dollar and might decline further to its lowest level in almost four years at
Natural gas futures traded on the New York Mercantile Exchange decreased, as a weather forecast showed that demand for the heating fuel might weaken after a winter storm brings temperatures down extremely. April natural gas futures dropped 1,4% to $3.479 per million British thermal units after reaching the highest level since January 23 at $3.529 on March 4.
The U.S. Dollar weakened for a second day versus most of its major counterparts, falling 0.1% to $1.3062 versus the Euro on 7:28 a.m. in London. In New York the Dollar depreciated 0.2% to $1.3052. The greenback decreased by 0.2% versus the Japanese Yen. The Dollar Index contracted 0.1% to 81.990.
WTI oil futures for April settlement were lower by 14 cents to $90.29 a barrel on the New York Mercantile Exchange during Singapore trading session on Thursday. Oil was traded close to a two-day low as data on the U.S. stockpiles increased five times more than analysts' estimation. Market prefers to sell oil, since it seems that demand is not likely to cover
The MSCI Emerging Markets Index dropped by 0.3% to 1,056.34 points by the mid-session in Hong Kong on Thursday. The index slipped from a two week-high leading by decrease in technology and consumer companies ahead of central bank meetings in Europe. Investors take a breath before news from Europe and Chinese trade data on Friday.
The Euro Stoxx 50 Index futures are higher by 0.1% to 2,682 points in very early London trading session on Thursday. European investors traded on the Fed comments that the U.S. economy grew and were waiting for central bank meetings in Europe. According to economists, the ECB will keep the key interest rate unchanged at 0.75% level.
U.S. equities edged higher on Wednesday, extending the Dow's highest level for a third consecutive day, as data showed firms added 198,000 workers the previous month, beating the analysts' estimates. In addition, Ben S. Bernanke, the Chairman of the Fed, said the nation's economy grew at a moderate pace on soaring consumer demand for houses and vehicles. The Dow Jones
The Dollar Index, constructed by Intercontinental Exchange Inc. to track the U.S. Dollar performance against the six U.S. partners, was higher by 0.2% to 82.472 points by midday in Tokyo on Thursday. Yesterday, the index reached 82.604 level, which is the highest point since 20th of August. The U.S. Dollar appreciates due to signs of improving domestic labour market and pressure to end monetary
The MSCI Asia Pacific Index was lower by 0.2% to 135.55 points by the midday in Tokyo on Tuesday trading session. The major region benchmark snapped last two-day gains, as Samsung announced investing to Sharp Corp. and Australia & New Zealand Banking Group said about plans to reduce jobs. However, the major Japanese stock index appreciated, as the Bank of