China opens OTC equity board to foreign investors

SHANGHAI, June 22 — China will open its national over-the-counter (OTC) equity market to foreign investors, the operator said today, in the country’s latest move to deregulate its capital market. So far, foreigners under the Qualified Foreign…

Asian bonds sell off in May as investors hunt for better yield


BENGALURU: Asian bond markets witnessed a second consecutive month of outflows in May and will likely come under more pressure as major central banks tighten their monetary policies this year. Data from central banks and bond market associations showed foreign investors sold a total of $3.8 billion in India, Indonesia, Thailand, South Korea and Malaysian bonds in the last month. “The recent monetary policy decisions by major central banks such as the ECB announcing to end its bond buying programme soon, and the more hawkish view by the U.S. FedRead More

Euro-area growth unexpectedly gathers pace as risks persist

LONDON, June 22 — Economic momentum in the euro area unexpectedly picked up in June, suggesting the 19-nation bloc is starting to recover from a temporary soft patch just as risks to the outlook increase. Private-sector growth also gathered pace…

Asian shares flirt with six-month lows as signs of tariff effects appear

TOKYO, June 22 — Asian shares were under pressure today on signs US trade battles with China and many other countries are starting to chip away at corporate profits, with oil prices choppy ahead of major producers meeting to discuss raising…

Global stocks fall with US dollar; oil slips before Opec

NEW YORK, June 22 — Stocks around the world fell yesterday and the US dollar slipped from a peak as investors flocked to bonds on worries about a US-China trade war. A weaker-than-expected US economic indicator also hit confidence. Oil futures…

RAM: New Sabah regime to maintain supportive stance at state, federal levels

KUCHING: RAM Ratings sees common goals and policy alignments between Sabah’s new coalition state government and the Federal Government. Given the state’s polarised and fragmented political landscape, no single party in Sabah had been eligible to form the state government following last month’s general election. However, a new state government was formalised after the defection […]

BOJ’s Funo urges continued easing as inflation still weak

SENDAI, June 21 — Bank of Japan board member Yukitoshi Funo said today that the central bank needs to patiently continue its strong monetary easing under the current policy, as slowing inflation keeps the BOJ’s 2 per cent price target a distant…

Asian currencies hit by stronger US dollar, Indonesian rupiah slumps

SINGAPORE, June 21 — All emerging Asian currencies weakened against a firming US dollar today, as comments by the US Federal Reserve chairman on the pace of rate hikes and a pick-up in US yields fuelled the greenback. Treasury yields rose…

Shell sells US$1.3 billion of oil and gas assets in Norway, Malaysia

LONDON/ OSLO: Royal Dutch Shell (RDSa.L) announced the sale on Wednesday of oil and gas assets in Norway and Malaysia for over US$1.3 billion, bringing it closer to a target of US$30 billion in disposals by year-end. The Anglo-Dutch company agreed to sell to OKEA, a Norwegian producer backed by private equity firm Seacrest Capital, […]

Asian shares subdued amid lull in trade spat, oil eases into Opec

SYDNEY, June 21 — Asian shares were subdued today as a lull in the Sino-US trade tussle helped calm nerves enough for the Nasdaq to reach a record high, while tensions in the oil market grew ahead of an Opec meeting that may expand crude supply….