Fuel Price Hike Attracts Buyers to Buoyant Market
Indonesia’s benchmark stock index edged upward on Monday with investors relieved by a likely to decision by the parliament to endorse a fuel-price rise. The Jakarta Composite Index gained 13.76 points, or 0.3 percent, to close at 4,774.50, extending its 3.3 percent gain on Friday. Gainers outnumbered decliners, 152 to 109, on Monday. More than more »
Rigged-Benchmark Probes Proliferate from Singapore to UK
The probe of Libor manipulation is proving to be the tip of the iceberg as inquiries into assets from derivatives to foreign exchange show that if there’s a chance to rig benchmark rates in world markets, someone is usually willing to try. Singapore’s monetary authority last week censured 20 banks for attempting to fix interest more »
Asian Markets Mixed Ahead of US Fed Meeting
Hong Kong. Asian markets were mixed Monday even as a weak batch of US economic data provided hope the Federal Reserve would put off announcing any winding down of its vast stimulus scheme at the end of a policy meeting this week. Traders were upbeat despite a soft lead from Wall Street while the dollar more »
Singapore Censures 20 Banks on Traders’ Bids to Manipulate Rates
Singapore’s monetary authority censured banks for trying to rig benchmark interest rates and ordered them to set aside as much as S$12 billion ($9.6 billion) at zero interest pending steps to improve internal controls. ING Groep NV (INGA), Royal Bank of Scotland Group Plc (RBS) and UBS AG (UBSN) were among 20 banks at which more »
JCI Has Biggest 1-Day Gain in Year
Indonesian stocks posted their biggest single-day gain in more than a year on Friday, following a strong jump in Asian markets and positive sentiment from the decision on Thursday by Indonesia’s monetary policy regulator to raise the cost of borrowing. The Jakarta Composite Index gained 153.08 points, or 3.3 percent, to close at 4,760.74. The more »
Asian Markets Rebound After Sell-Off
Hong Kong. Asian markets rebounded on Friday after the previous day’s huge sell-off, with dealers picking up bargains in Tokyo, helped by a Wall Street rally and upbeat US data. The dollar slipped after enjoying a bright start, however, which in turn pared early gains for Japan’s Nikkei index, with fears over a possible end more »
Honda to Recall Over 380,000 Cars in Japan
Tokyo. Honda Motor will recall more than 380,000 cars in Japan due to a problem with the drive shaft, the government said on Thursday. The recall will cover a total of 384,614 units across five models, including N BOX, manufactured between December 2011 and May this year, Japan’s transport ministry said after Honda submitted its more »
Asian Markets Slump on Fears Over US Fed Stimulus
Hong Kong. Asian markets dived Thursday, with Tokyo’s Nikkei losing more than six percent, while the dollar hit 10-week lows against the yen on expectations that central banks’ monetary easing measures will end soon. Dealers in emerging economies also ran for cover, with the US Federal Reserve in focus amid fears it will soon start more »
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