[ WALL Street’s main indexes were set for a higher open on Friday as robust quarterly results from Alphabet and Microsoft lifted growth stocks, while fresh evidence of progress on the inflation front rekindled hopes of an interest rate cut this year. Alphabet jumped 11.7% in premarket trading after the Google-parent announced its first-ever dividend, … Read more
[ BANGKOK: The Bank of Thailand (BOT) has intervened in currency markets at times to ease any excessive moves in the baht while the current policy rate is robust and conducive to economic recovery, central bank officials said on Wednesday. Although volatility was high, it was not unusual and the baht was moving in line … Read more
[ WALL Street’s main indexes eyed a higher open on Thursday as chip stocks rebounded, while investors awaited commentary from Federal Reserve officials to ascertain the outlook for interest-rate cuts. Micron Technology rose 1.6% after a report that the memory-chip maker is set to get more than $6 billion in grants from the U.S. Commerce … Read more
[ SHANGHAI/SINGAPORE: China’s central bank on Monday left a key policy interest rate unchanged as widely expected when rolling over maturing medium-term loans, and drained some cash from the banking system through the bond instrument. WHY IT’S IMPORTANT Keeping the medium-term lending facility (MLF) rate steady underscores the central bank’s intention to maintain currency stability … Read more
[ LONDON: The dollar and bond yields rose on Friday after much stronger than expected growth in March U.S. payrolls sent investors scurrying to review their bets on when the Federal Reserve will cut interest rates. The U.S. Labor Department reported that nonfarm payrolls increased by 303,000 in March, far ahead of a forecast rise … Read more
[ WASHINGTON: U.S. prices increased moderately in February and the cost of services outside housing slowed considerably, keeping a June interest rate cut from the Federal Reserve on the table. The personal consumption expenditures (PCE) price index rose 0.3% last month, the Commerce Department’s Bureau of Economic Analysis said on Friday. Data for January was … Read more
[ HONG KONG: The Hong Kong Monetary Authority (HKMA) left its base rate charged through the overnight discount window unchanged at 5.75% on Thursday, tracking a move by the U.S. Federal Reserve to keep rates steady. Federal Reserve Chair Jerome Powell said on Wednesday recent high inflation readings had not changed the underlying “story” of … Read more
[ WALL Street’s main stock indexes were on track to a higher opening on Thursday as investors kept bets of interest-rate cuts in the coming months alive despite slightly hotter-than-expected inflation data. A Labor Department report showed the Producer Price Index (PPI) rose 0.6% month-on-month in February, compared with a 0.3% increase expected by economists … Read more
[ TOKYO: Japan’s core inflation stayed above the central bank’s 2% target in December but slowed for a second straight month, data showed on Friday, reinforcing expectations it will be in no hurry to phase out its massive monetary stimulus. The data, which matched median market forecasts, highlights receding inflationary pressure from raw material imports … Read more
[ KUALA LUMPUR: The ringgit closed higher against the US dollar on Monday, eking out a marginal gain after recent losses as funds flowed back into emerging markets. At 6 pm, the ringgit climbed to 4.6495/6535 versus the greenback from Friday’s close of 4.6525/6580. MIDF Research said the ringgit and other regional currencies would benefit … Read more
