Post Tagged with: "money"

Market U-turn: US stocks skyrocket on rare spate of good news, with Dow gaining nearly 750 points

Market U-turn: US stocks skyrocket on rare spate of good news, with Dow gaining nearly 750 points

US stocks surged, the US dollar weakened and Treasuries tumbled with gold as investors got good news on the economy, Federal Reserve policy and trade tensions. The S&P 500 rallied 3.4 per cent, the Dow Jones Industrial Average roared higher by almost 750 points and the Nasdaq 100?s surge topped […]

Apple?s ?darkest day? sends a shudder through US markets, falling sharply amid fears for China economy

Apple?s ?darkest day? sends a shudder through US markets, falling sharply amid fears for China economy

US stocks suffered heavy losses on Thursday, a day after Apple reported a slowdown in iPhone sales over the holidays in China, a hugely important market for the company. The rare warning from Apple sent a shudder through markets and confirmed fears among investors that the world?s second-largest economy was […]

Apple-related stocks hammered in China, Hong Kong markets after US smartphone giant cuts revenue outlook

Apple-related stocks hammered in China, Hong Kong markets after US smartphone giant cuts revenue outlook

Hong Kong and Chinese stocks struggled for direction on Thursday, ending the session with marginal losses, as Apple suppliers were hammered after the smartphone giant slashed its revenue outlook based on weaker-than-expected iPhone sales in China. The Hang Seng Index closed down 0.35 per cent, or 87.74 points, at 25,042.61. […]

?Flash crash? rips through Asia?s currency markets, exacerbated by algorithmic programming that sends the yen soaring

?Flash crash? rips through Asia?s currency markets, exacerbated by algorithmic programming that sends the yen soaring

It took seven minutes for the yen to surge through levels that have held through almost a decade. Traders are still seeking to piece together what happened just before 9:30am in Sydney, when orders came to sell Australia?s dollar and Turkey?s lira against the yen. While some pointed to risk […]

Kaisa says its US$150 million Xi?an development project is at risk over dispute with local developer Xingzhengyuan

Kaisa says its US$150 million Xi?an development project is at risk over dispute with local developer Xingzhengyuan

faces losing its entire investment of almost US$150 million in a key urban redevelopment project, underscoring the vagaries in China?s property market. The Shenzhen-based home builder, which gained notoriety in 2015 when it became the first developer from the nation to default on US dollar debt, has invested more than […]

China National Tobacco, the world?s largest cigarette maker, plans Hong Kong IPO for international unit

China National Tobacco, the world?s largest cigarette maker, plans Hong Kong IPO for international unit

China National Tobacco, a state monopoly that is by far the biggest cigarette maker in the world, plans to list its international unit on the Hong Kong stock exchange even as pressure increases on the government to curb smoking. The unit, China Tobacco International, is primarily responsible for procuring overseas […]

China?s Zijin Mining to raise US$1.2 billion through share issue to fund takeover of Nevsun Resources

China?s Zijin Mining to raise US$1.2 billion through share issue to fund takeover of Nevsun Resources

Zijin Mining Group, China?s largest gold miner, said it plans to issue 8 billion yuan (US$1.16 billion) worth of shares in Shanghai to finance the purchase of a Canadian mining company, the biggest overseas acquisition since the company went public in Hong Kong in 2003. The miner said in a […]

The bicycle kingdom goes electric, and China?s biggest e-bike maker Yadea wants to make most of them

The bicycle kingdom goes electric, and China?s biggest e-bike maker Yadea wants to make most of them

Dong Jinggui, chairman of China?s largest electric scooter maker , envisions rebranding e-bike as glitzy and hi-tech by launching new models that would be priced five times more than existing products. The Hong Kong-listed company plans to unveil dozens of new electric bicycles in 2019, with some products priced at […]

High-rolling VIPs help Macau casinos pull in gaming revenues of US$37.6 billion in 2018

High-rolling VIPs help Macau casinos pull in gaming revenues of US$37.6 billion in 2018

Gambling revenue in Macau rose 14 per cent in 2018, the second consecutive year of gain as demand to wager in the Chinese territory continued to rebound from a prolonged slump. December was also the 29th straight month where revenue in China?s only legal gambling hub rose versus the same […]

Gold price rises above US$1,300 as investors rush for sanctuary amid the bloodbath in global stock markets

Gold price rises above US$1,300 as investors rush for sanctuary amid the bloodbath in global stock markets

Gold pierced the US$1,300 level to extend a new year rally. Investors flocked to the metal with global equities in retreat, signs of a slowdown stacking up, and the oldest of havens showing its mettle as exchange-traded funds draw in increased flows. Futures spiked as much as 0.4 per cent […]