Asia markets trade higher after US stocks rally for a second day

A man walks past the Tokyo Stock Exchange (TSE), operated by Japan Exchange Group Inc. (JPX), in Tokyo, Japan, on Monday, Nov. 30, 2020. Toru Hanai | Bloomberg via Getty Images Shares in the Asia-Pacific traded higher on Wednesday after US stocks rallied for a second day. Hong Kong’s Hang Seng index jumped 4.4% before … Read more

UK’s tax cut pivot down to politics not economy, analysts say

LONDON — The UK government’s reversal on scrapping the top rate of income tax is down to political optics and will not reassure market skittishness over its economic plan, analysts told CNBC Monday. The tax cut, which Prime Minister Liz Truss was defending just hours before, would have abolished a 45% rate paid on annual … Read more

UK government abolishes plan to cut tax on high earners in major U-turn

“It is clear that the abolition of the 45p tax rate has become a distraction from our overriding mission to tackle the challenges facing our economy,” Finance Minister Kwasi Kwarteng said in a statement. Rob Pinney | Getty Images News | Getty Images LONDON — The UK government on Monday reversed a plan to scrap … Read more

Bitcoin slides as stocks fall deeper into bear market

Bitcoin continues to trade in a tight range of $18,000 to $25,000 mark, keeping investors on edge about where the price is going next. The crytpo market has been plagued with a number of issues from collapsed projects to bankruptcies. Nurphoto | Getty Images Bitcoin briefly topped $20,000 on Tuesday, hitting its highest level in … Read more

Asian stocks mixed after Wall Street slump; China PMI beats estimates

Factory activity in China expected to contract again China’s official manufacturing Purchasing Managers’ Index for September is expected to come in below the 50-point mark separating growth from contraction, according to a Reuters poll of analysts. Economists expect a figure of 49.6, slightly higher than August’s 49.4, which would mark the third consecutive month of … Read more

Asia markets rise, Hang Seng index up 2% after Wall Street rebound

EV maker Leapmotor’s shares plunge in Hong Kong debut Chinese electric vehicle maker Leapmotor’s shares tumbled more than 32% from its offer price of 48 Hong Kong dollars ($6.29) per share on its first day of trade in the city. Onewo, a subsidiary of property developer China Vanke, also started trading in Hong Kong. It … Read more

Stocks fall, Chinese yuan crosses 7.2 against the dollar

Consumer inflation in Japan could decline in 2023: BOJ meeting minutes Consumer inflation excluding fresh food is likely to rise this year, but the rate of increase will slow thereafter on energy prices, minutes from the Bank of Japan’s July meeting said. A few members also said inflation, excluding fresh food and energy, is unlikely … Read more

Britain’s lurch to Reaganomics gets thumbs down from markets

Truss has now put the country on an economic road completely at odds with most, if not all, major global economies. Hannah McKay | Reuters LONDON – New UK Prime Minister Liz Truss may have talked big on “trickle-down economics” during her campaign trail this summer, but no-one could have predicted the swathe of tax … Read more

Asia markets mostly fall, China stocks rise slightly

An electronic board displays stock information at the Australian Securities Exchange, operated by ASX Ltd., in Sydney, Australia, on Tuesday, Feb. 6, 2018. Brandon Thorne | Bloomberg via Getty Images Asia-Pacific shares mostly fell on Friday as investors continue to weigh the Federal Reserve’s aggressive stance. In Australia, the S&P/ASX 200 fell 1.56% on its … Read more

Fed hike, Bank of Japan, interest rates, currencies

Bank of Japan likely to maintain yield curve control for rest of 2022: DBS Substantial adjustments to the Bank of Japan’s policies are likely to happen only after the central bank’s leadership changes in mid-2023, DBS Group Research said in a note Tuesday. But the BOJ may consider some “policy fine-tuning,” such as widening the … Read more