The Chinese currency Yuan depreciated to the lowest level in a week as China's aim to increase the money-market operations' frequency boosted demand for the greenback. The Yuan erased as much as 0.04% to 6.1975 per dollar. Meanwhile, the currency was trading at 6.2211 per dollar in Shanghai.
Chinese shares retreated after rallying to their eight-month high. The Shanghai Composite Index slid 0.7% to 2,312.23. The shares that slid the most were those of consumer staples group, whereas banks edged higher. Citic Bank advanced 3.1% to 4.68 yuan, while Singapore's Oversea-Chinese Banking Corp. soared 6.5% to 11.51 yuan.
Precious metals except for palladium advanced in quiet Monday's trading as US markets were closed for the Martin Luther King Jr. holiday. The commodity group prolonged its rally on expectations that the BoJ will ease its monetary policy further at its meeting on Tuesday. Gold rose on hopes for easing in Japan. However, the upswing was limited by potential fall in
Japanese shares dropped as the yen appreciated after BOJ doubled the target of inflation to 2% and aimed at launching open-ended asset buying, similar to the one in the U.S., the next year. The Nikkei 225 Stock Average dropped 0.4% to 10,702.48 after earlier rallying as much as 1% right after the BOJ's decision. Only three out of ten sectors
Oil was near the highest level in four months in New York after the Bank of Japan announced it will introduce further monetary stimulus. WTI for February settlement, expiring today, gained 14 cents to $95.70 a barrel, while the March contract rose 12 cents to $96.16. Brent for March delivery increased 39 cents, or 0.4%, to $112.10 a barrel.
Gold advanced to the highest level in one month as Japan's central bank set a 2% inflation goal and considered the Fed's style unlimited asset purchases in order to end deflation. Spot gold rose 0.3% to $1,694.25 an ounce and was at $1,693.90 as of 12:56 p.m. Singapore time, while gold for February settlement increased 0.4% to $1,693.10.
Most Asian stocks fell as Japan's central bank set a 2% inflation goal and delayed open-ended asset purchases till 2014. The MSCI Asia Pacific Index gained 0.3% to 132.64, with 5 stocks declining for every 4 that rose. Japan's Nikkei 225 Stock Average lost 0.8% after advancing 1% on the BOJ's announcement. South Korea's Kospi Index climbed 0.3%, whereas Australia's
The South Pacific currencies advanced versus the U.S. Dollar as the Bank of Japan declared it would introduce further monetary stimulus, boosting optimism for global growth. The Australian Dollar gained 0.2% to $1.0538 and traded at 94.14 yen from 94.23 yesterday. The New Zealand Dollar rose 0.5% to 84 U.S. cents and was at 75.03 yen from 74.91 a day
The Japanese Yen advanced from near 2 ½ year-low as the Bank of Japan announced it will do asset purchases from 2014. The Yen strengthened 0.4% to 89.23 per U.S. Dollar following a 0.6% decline earlier. It traded at 90.25 yesterday, the weakest level since June 23, 2010. Japan's currency gained 0.2% to 119.08 per Euro.
German equities climbed as Eurozone finance ministers meet today to discuss policies on resolving the debt crisis. The DAX index advanced 06% to 7,746.18 by 16:04 GMT. All groups in the index surged with the consumer services shares posting biggest gains. Deutsche Lufthansa rallied 3.5% after Credit Suisse Group AG increased the company's price target. The latter increase supported the
U.K. equities rose extending their gains for a third day as investors wait for the outcome of today's meeting of eurozone finance ministers and U.S. budget-ceiling agreement is awaited to be achieved in the nearest time. The FTSE 100 climbed 0.3%, or 20.84 points, to 6,175.25. All but two groups in the index advanced in the index. Admiral Group shares
Hong Kong blue chips fluctuated between gains and losses on Monday with the Hang Seng benchmark index staying close to its highest level in nineteen months. Hong Kong's gauge reached its highest since June 2011 on Friday amid report that indicated Chinese economy revived for the first time in two years. However, the Hang Seng index closed down 0.05% at
Japanese equities dropped, as the Yen appreciated against the greenback ahead of BOJ's decision on the monetary policy tomorrow. The Nikkei 225 slid from its 32-month high and erased as much as 1.5% to close at 10,747.74. All but one sector in the index inched lower. Oil and gas was the only group that posted gains, as it surged 1.57%.
U.S. blue chips advanced for a third week, as corporate earnings beat the estimates and rising hopes for Congress to agree on the debt-ceiling. However, the lawmakers still remained to different views on raising the debt-limit and reducing the government spending. The Dow Jones industrial Average advanced 1.2%, or 161.27 points, to 13,649.70. Both the Dow Jones and S&P indices
U.S. stocks climbed on Friday extending their gains for the third consecutive week amid higher-than-expected profits of General Electric Co. and Goldman Sachs Group Inc. and talks on the debt-ceiling took progress. The S&P 500 index advanced 1% to 1,485.98. All but one sector in the index edged higher with industrial shares rallying the most by 0.96%. Life Technologies Corp.
Most Asian shares retreated on speculation stocks might have advanced too far and too fast. The MSCI Asia Pacific Index fell 0.3% to 132.36 after adding less than 0.1%. Japan's Nikkei 225 Stock Average declined 1.5% as a BOJ's two-day policy meeting begins today. Australia's S&P/ASX 200 Index gained 0.1%, while South Korea's Kospi Index fell 0.1% and Singapore's Straits
Malaysia's Ringgit declined for the first time in 3 days ahead of a report this week that may indicate consumer prices advanced for the first time since August 2011. The Ringgit traded at 3.0140 per U.S. Dollar, with one-month implied volatility increasing 12 basis points, or 0.12 percentage point, to 5.18%. According to economists' projections, inflation increased to 1.4% in
The Philippine Peso fell amid speculation the nation's central bank will add more measures to manage capital flows. The Peso weakened 0.2% to 40.638 per U.S. Dollar, trimming a two-day gain, with one-month implied volatility held at 4%. The yields of 6.375% government bonds due January 2022 gained 8 basis points, or 0.08 percentage point, to 4.375%.
Australia's Dollar fell for a second successive day against the Yen before inflation data this week that might initiate further interest rate cuts, decreasing demand for the country's assets. The Aussie lost 0.6% to 94.15 yen and traded at $1.0511 after earlier fetching $1.0486 January, the lowest since January 8. The New Zealand Dollar lost 0.8% to 74.85 yen and
Japan's currency recovered from the lowest level in 2 ½ years as the Bank of Japan two-day policy meeting commenced. The Japanese yen has declined 5.9% versus the U.S. dollar in the previous month amid speculation the BOJ will add stimulus to prop up the nation's economy. The Yen gained 0.5% to 89.61 per greenback after earlier trading at 90.25,
Farm commodities apart from sugar finished the week in the green area amid escalated concerns over the US winter-wheat crops and coffee leaf rust in Central America. Strong US grains export data released on Thursday also supported grains. Wheat attained a three-week high on concerns over the US winter-wheat harvest. The US Climate Prediction Center expects dry weather to persist
Energy futures extended previous gains on upbeat Chinese figures. China's GDP expanded by annualized 7.9% in Q4 of 2012 versus expectations of a 7.8% growth. Moreover, the International Energy Agency raised its global demand forecast for 2013 by 240,000 barrels per day, citing robust China' demand. Crude oil edged up on bright demand outlook in China and a recent decline
Industrial metals were mixed on Friday amid dismal US data and positive China's numbers. China's GDP climbed by annualized 7.9% in Q4 of 2012 compared to forecasts of a 7.8% expansion. At the same time, US UoM consumer sentiment dropped to a seasonally adjusted 71.3 in December compared to estimates of an increase to 75.0. Aluminum dipped on an unexpected
Precious metals except for silver snapped a four-day winning streak on profit-taking after weak consumer sentiment data from the US. Meanwhile, market players are likely to remain focused on the BoJ meeting, the Eurozone finance ministers' meeting and the US debt ceiling talks due this week.Gold retreated as investors locked in gains after the previous rally. Weak US consumer sentiment