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Wockhardt shares plunge 20 pc on USFDA import alert

Thu, 23 May 2013 16:26:11 -0400

MUMBAI - Shares of Wockhardt, one of the leading Indian pharmaceutical and biotechnology companies, witnessed a sharp fall of 20% to Rs. 1,315 ($23.61) on the Bombay Stock Exchange(BSE) on Thursday after the US FDA published an import alert on one of its three manufacturing facilities near Aurangabad. The import alert, 'detention without physical examination of drugs from firms which have ...

April sees Japan trade deficit jump to 879.9bn yen

Wed, 22 May 2013 16:52:11 -0400

TOKYO - Japan's trade deficit rose substantially more than expected in the month April to 879.9 billion yen ($8.6 billion), which is a 70% jump over the trade deficit during the corresponding month a year earlier, the Finance Ministry said Wednesday.. The deficit, for the tenth consecutive month, was wider than what many economists had forecast. A survey from the Nikkei business daily ...

China central bank switches to liquidity injection

Thu, 23 May 2013 06:50:02 -0400

The People's Bank of China (PBOC), the country's central bank, swung back to liquidity injection this week with 128 billion yuan ($20.9 billion) being pumped into the banking system through its regular open market operations. The PBOC move marked a turn-around in the central bank's open market operations last week when it drained 35 billion yuan from banks in the open market after hedging the ...

UPDATE 2-Venezuela 2012 oil and fuel exports rise crude output slips

Thu, 23 May 2013 15:43:39 -0400

CARACAS May 3 (Reuters) - Venezuela's oil and fuel exports rose slightly in 2012 over the previous year even as crude production and refinery output slipped, the oil minister said on Friday, as the OPEC nation relied on imports to meet part of local fuel ...

World markets roiled by Nikkeis 7.3-percent dip

Thu, 23 May 2013 14:53:21 -0400

LONDON/HONG KONG--Financial markets around the world were roiled Thursday after Japanese stocks suffered their biggest slide since the country was hit by a devastating tsunami more than two years ...

Japan’s Nikkei Index Falls 7.3 for Several Reasons Europe and U.S. Indexes Dip after Japanese Nosedive JPMorgan Voters Keep CEO Dimon

Thu, 23 May 2013 13:39:06 -0400

YahooFinance ) The Japanese stock market’s single-largest, one-day loss since the 2011 tsunami featured a 7.3 percent plunge yesterday that was blamed on lower-than-expected Chinese manufacturing figures for April, the Federal Reserve's lack of a clear message on continuing quantitative easing and spiking Japanese bond prices.Elsewhere in the Far East, markets generally pulled back. ...

Nikkei’s nosedive Blame it on optimism

Thu, 23 May 2013 12:32:39 -0400

Japan's growth spurt shows early benefits of Abe's policy gamble The last time Japan's benchmark index fell this sharply was in 2011, when Japan was hit by a devastating earthquake and tsunami, which sent the Nikkei tumbling 10.6 per cent. Before that, you have to go back all the way to 1987, when it fell 14.9 per cent.Thursday's decline follows numerous signs of rising ...

The Warning Signs Ahead of Nikkei Selloff

Thu, 23 May 2013 12:19:32 -0400

A perfect storm of yen strength, a spike in Japanese government bond yields and new evidence of weakness in China's economy sparked a major sell-off in Japan's equity markets on ...

Markets fall as Japan stocks slide

Thu, 23 May 2013 12:12:42 -0400

23 May 2013 Financial markets around the world have fallen after Japanese stocks suffered their biggest slide since the country was hit by a devastating tsunami more than two years ...

No ones particularly sure why the Nikkei dropped 7 overnight

Thu, 23 May 2013 12:05:26 -0400

Well that was fast. Japanese financial markets have experienced a stunning rise over the past six months, as a new government led by Prime Minister Shinzo Abe introduced policies of aggressive Keynesian stimulus paired with equally aggressive monetary easing by the Bank of Japan. The surest, steadiest bet on global financial markets in that time has been on rising Japanese stocks and a falling ...

Disappointing PMI weighs on A-shares

Thu, 23 May 2013 11:08:50 -0400

Stock markets on the Chinese mainland closed deep within negative territory Thursday after manufacturing activity in the world's second largest economy showed unexpected signs of weakness.The benchmark Shanghai Composite Index finished trading at 2,275.67 after shaving off 1.16 percent, or 26.73 points; while the Shenzhen Component Index dived 1.48 percent, or 139.38 points, to close at ...

Nation’s new rail operator taps debt market

Thu, 23 May 2013 11:08:50 -0400

The China Railway Corporation (CRC) offered 20 billion yuan ($3.26 billion) in five-year notes in the country's interbank bond market Thursday, the first such issuance since the railway operator took charge of the commercial duties once handled by the now-defunct Ministry of Railways (MOR) in March.With the issuer and its notes both bearing triple A credit ratings, the State-owned railway ...

Urbanization plans hit roadblock

Thu, 23 May 2013 11:08:49 -0400

China's plan to spend $6.5 trillion on urbanization to bolster the economy is running into snags, sources close to the government said, as top leaders fear another spending binge could push up local debt levels and inflate a property bubble.Premier Li Keqiang has rejected an urbanization proposal drafted by the National Development and Reform Commission (NDRC), seeking changes to put more ...

World stocks slump as Japans Nikkei loses 7

Thu, 23 May 2013 10:58:26 -0400

Financial markets around the world were roiled Thursday after Japanese stocks suffered their biggest slide since the country was hit by a devastating tsunami more than two years ago. Several reasons have been blamed for the 7.3 percent fall in the Nikkei index to 14,483.98, including a spike in Japanese government bond yields and unexpectedly weak Chinese manufacturing figures. Mixed messages ...

Asian markets fall Tokyo plunges more than 7

Thu, 23 May 2013 10:56:27 -0400

Asian markets fell on Thursday, with Tokyo plunging more than 7% as investors took profits after weak Chinese data and signs the US Federal Reserve could start tapering off its massive stimulus ...

Plunge in Japans Nikkei stock index sparks global sell-off

Thu, 23 May 2013 10:50:30 -0400

The Dow Jones industrial average shed 107.1 points, or 0.7%, to 15,200.07 shortly after the opening bell in New York. The broader Standard & Poor's 500 index tumbled 17.77 points, or 1.1%, to 1,637.58. The technology-heavy Nasdaq was off 33.37 points, or 1%, 3,429.93. Weak Chinese manufacturing data helped send ...

At the open TSX U.S. stocks slide as Nikkei plunge ignites fears

Thu, 23 May 2013 10:05:00 -0400

U.S. and Canadian stock markets opened with steep losses, as a breathtaking plunge in Japanese stocks overnight created concern that it could foreshadow a broader correction in global equity markets. A surprisingly weak economic report out of China, along with heightened worries that the U.S. Federal Reserve may soon start curtailing its massive bond-buying program, have given investors reason to ...

Nikkei Tanks 7 U.S. Stocks Struggle For Support

Thu, 23 May 2013 09:55:30 -0400

Ben Bernanke testifying in front of Congress followed by the Fed minutes. Many investors, I think, were wary of those two events given the recent rhetoric about QE tapering, and it appears big institutional players elected to take some profits before and during those events yesterday. World markets reacted overnight to the major reversal in U.S. markets yesterday and are down big this morning. ...

Japan stocks plunge 7

Thu, 23 May 2013 09:46:01 -0400

A global rally in stocks came to an abrupt halt Thursday as a 7% plunge on Japan's Nikkei index unnerved investors in Europe and set the tone for a weak opening on Wall ...

Gold Up 1.5 As Stocks Globally Fall After Nikkei Crashes 7.3

Thu, 23 May 2013 08:25:10 -0400

Today's AM fix was USD 1,386.00, EUR 1,074.92 and GBP 919.16 per ounce. Yesterday's AM fix was USD 1,385.25, EUR 1,071.43 and GBP 917.75 per ounce. Gold fell $10.20 or 0.74% yesterday to $1,367.60/oz and silver finished up 0.07%. Gold is up today while stock indices globally are sharply down after the Nikkei crashed 7.3%. The stock crash in Japan is leading to weakness in European ...

Nikkei dives 7 ends below 14500

Thu, 23 May 2013 08:23:47 -0400

Tokyo’s Nikkei stock index tumbled more than 7 percent Thursday to end a roller-coaster trading session below 14,500 as selling triggered by weak Chinese data outpaced sharp gains made earlier and snapped a four-session winning streak. The 225-issue average closed down 1,143.28 points, or 7.32 percent, from Wednesday at 14,483.98, marking its steepest point fall since April 17, 2000, after ...

UPDATE 1-Japan govt Nikkei plunge temporary wont derail Abenomics

Thu, 23 May 2013 07:52:14 -0400

Thu May 23, 2013 7:52am EDT * Japan government puts brave face on Nikkei plunge * Government, investors agree trigger was China data, recent rise * Top spokesman says no change to 'Abenomics' * Biggest slide since 2011 quake, tsunami (Adds government officials, market analysis) By Tetsushi Kajimoto TOKYO, May 23 (Reuters) - The biggest plunge in Japanese stock prices since a 2011 ...

Premarket Stock futures off lows after Nikkei plunge

Thu, 23 May 2013 07:42:32 -0400

Stock futures are suggesting significant losses when U.S. and Canadian markets open this morning, but not nearly to the same degree as what was seen overnight in Asia and so far this morning in Europe.Japan's Nikkei took a brutal fall overnight, losing more than 7 per cent in heavy volumes, as the value of the yen spiked as much as 2.3 per cent against the U.S. dollar. It was the biggest ...

Markets roiled by Nikkeis 7.3 percent slide

Thu, 23 May 2013 07:40:45 -0400

A man walks past an electronic stock indicator showing the Nikkei 225 index which nosedived 1,143.28 points, or 7.3 percent to close at 14,483.98 in Tokyo Thursday, May 23, 2013. Japanese stocks plummeted Thursday after a spike in government bond yields and unexpectedly weak Chinese manufacturing spooked investors sitting atop months of massive gains in share prices. (AP Photo/Shizuo ...

Global Markets Reel on Nikkeis 7.3 Slide

Thu, 23 May 2013 07:30:18 -0400

Japans Nikkei plunges 7.3

Thu, 23 May 2013 07:24:57 -0400

U.S. stocks tumbled Thursday after Bernanke spoke, Fed meeting minutes released U.S. stocks, which fell sharply Wednesday, were poised for more declines Thursday. Following a sharp sell-off in global markets, Dow Jones industrial average futures were 1% lower while the broader Standard &Poor's 500 futures fell 1.2%. The tech-laden Nasdaq composite index was down 1.1%.Those declines are ...

Currencies Dollar tumbles vs. yen as Japan stocks sink

Thu, 23 May 2013 07:14:29 -0400

LONDON (MarketWatch) -- The dollar slumped on Thursday, dropping closer to the 100-yen level, as Japanese stocks plunged on the back of disappointing Chinese data and fears the U.S. Federal Reserve could soon begin to reduce its bond ...

PRECIOUS-Gold rebounds on dollar shares slide after China data

Thu, 23 May 2013 07:05:14 -0400

LONDON, May 23 (Reuters) - Gold bounced back on Thursday from the previous session's losses as the dollar fell sharply and European shares dropped after weak Chinese factory activity added to concerns about a delayed recovery in the ...

Asian Stocks Tumble On Fed Talk China Growth Concerns

Thu, 23 May 2013 06:29:07 -0400

Asian stocks tumbled on Thursday after minutes of the Federal Reserve's April 30-May 1 meeting revealed "a number" of members favor tapering the central bank's $85-billion bond-buying program as early as the June meeting if the labor market continues to improve. Fed chief Ben Bernanke also hinted that an exit could be initiated in the "next few meetings" if the ...

Asian markets sell off

Thu, 23 May 2013 06:23:34 -0400

Singapore - Hawkish comments by US Federal Reserve Chairman Ben Bernanke and weakness in China's factory activity rocked Asian markets on Thursday, took the dollar to three-year highs, sent share markets lower, and hit the Japanese government bond market as yields rose to their highest in a ...

Asian stocks fall as markets eye possible Fed tapering

Thu, 23 May 2013 06:10:33 -0400

Asian markets were mostly down Thursday on signs the US Federal Reserve could soon start tapering off its massive stimulus measures, though Tokyo stocks rose after the yen fell against the dollar. Markets took their lead from Wall Street where stocks fell after Federal Reserve chief Ben Bernanke told Congress the Fed could scale back stimulus measures if economic conditions improved. However, ...

RPT-WRAPUP 1-Asian markets sell off on Bernanke remarks China PMI

Thu, 23 May 2013 06:05:18 -0400

Thu May 23, 2013 6:05am EDT * Asian shares down after China HSBC flash PMI, credit spreads wider * Nikkei plunges 7 percent, 11th worst daily drop * JGBs bounce after 10-year JGB yield hits year highs * Korean won worst hit as dollar rises broadly By Masayuki Kitano and Hideyuki Sano SINGAPORE, May 23 (Reuters) - Hawkish comments by U.S. Federal Reserve Chairman Ben Bernanke and weakness in ...

Japanese shares plunge Nikkei closes down 7.3

Thu, 23 May 2013 06:02:43 -0400

Japanese shares plunged in Thursday’s trade – with the Nikkei closing down 7.3 percent and the Topix ending down 6.9 percent, its biggest fall since March 2011. One of the main drivers of the losses was data from China showing that manufacturing activity fell in May. Markets were also spooked by concerns that the US Federal Reserve might downscale its bond purchases. The Nikkei and ...

Japans Nikkei index slumps over 7

Thu, 23 May 2013 05:21:07 -0400

Japanese stocks plummeted today after a spike in government bond yields and unexpectedly weak Chinese manufacturing spooked investors sitting on top of months of massive gains in share prices. The Nikkei 225 in Tokyo slumped by 7.3% to close at 14,483.98, its worst drop since the 2011 tsunami. Japan's 10-year government bond yield rose above 1% for the first time in a year, unnerving ...

Japan stocks plummet 7

Thu, 23 May 2013 05:15:56 -0400

Japanese stocks were also hurt by a strengthening in the yen, which makes exports more expensive overseas and erodes repatriated earnings. - ...

Japan stocks plunge on weak China data

Thu, 23 May 2013 05:05:00 -0400

A seven-month rally in Japanese stocks came to an abrupt halt Thursday as the benchmark Nikkei index plunged by 7.3%, with investors rattled by weak economic data from ...

Hang Seng ends 2.5pc lower

Thu, 23 May 2013 05:00:52 -0400

(37 mins ago) Hong Kong shares closed down 2.54 percent Thursday after weak Chinese data and signs the US Federal Reserve could soon start tapering off stimulus measures. The benchmark Hang Seng Index lost 591.4 points to 22,669.68 on turnover of HK$83.64 billion, AFP reports. Chinese shares closed down more than one percent after data showing manufacturing activity contracted in May for the ...

European markets dive following Nikkei slump

Thu, 23 May 2013 05:00:42 -0400

(1 hr 6 mins ago) Europe's main stock markets slumped at the start of trading today, with Frankfurt and Paris down more than 2 percent following a plunge in Tokyo. London's benchmark FTSE 100 index slumped 1.42 percent to 6,743.32 points, Frankfurt's DAX 30 crashed 2.11 percent to 8,351.19 points and in Paris the CAC 40 shed 2.24 percent to 3,953.32, AFP reports. Tokyo ended ...

Nikkei index futures fall below 14000 in after-hours trade

Thu, 23 May 2013 04:57:38 -0400

TOKYO | Thu May 23, 2013 4:57am EDT TOKYO May 23 (Reuters) - Japan's Nikkei index stock futures briefly dropped below 14,000 in after-hours trade, indicating possibly a further decline in the cash market on Friday after a 7.3-percent dive on Thursday. The index futures was last down 2.8 percent at 14,180. That compared with the benchmark Nikkei's close of 14,483.98 on ...

ASIA CREDIT CLOSE Nikkei rout adds push to credit sell-off

Thu, 23 May 2013 04:43:03 -0400

Thu May 23, 2013 4:43am EDT SINGAPORE, May 23 (IFR) - A sell-off in Asian credit gained momentum after the Japanese stock market suffered a steep drop this afternoon. Investment-grade credits were already some 2bp wider in the morning as investors digested the content of Fed chairman Ben Bernanke's testimony last night to the US Congress. However, after lunch a 7.5%-plus drop in the Nikkei ...

European stock markets slide after Nikkei plunges 7 - live

Thu, 23 May 2013 04:04:37 -0400

The Markit Composite PMI, which measures activity across the German economy, came in at 49.9, up from 49.2 in April (where a 50-point reading separates expansion from contraction) German manufacturing output rose slightly, but was balanced out by a small drop in services. And France's private sector kept shrinking, with a composite PMI of 44.3 -- a long way from that 50-point ...

Weak PMI data drags down Chinese shares

Thu, 23 May 2013 04:01:45 -0400

/enpproperty--> BEIJING - A weak reading of the HSBC Flash Manufacturing Purchasing Managers' Index (PMI) that suggested contraction in the manufacturing sector in May weighed on Chinese shares on Thursday, sinking stocks indexes by more than 1 percent. The benchmark Shanghai Composite Index lost 1.16 percent, or 26.74 points, to end at 2,275.67. The Shenzhen Component Index fell 1.48 ...

Perfect Storm Sparks Massive Nikkei Sell-Off

Thu, 23 May 2013 04:01:40 -0400

A perfect storm of yen strength, a spike in Japanese government bond yields and new evidence of weakness in China's economy were behind a major sell-off Thursday in Japan's equity markets, said experts. The ...

French shares decline tracking Nikkei loss

Thu, 23 May 2013 03:50:10 -0400

(31 mins ago) French share prices fell by 2.24 percent in initial trading on Thursday when confidence was hit by a fall of 7.32 percent on the Tokyo stock market. The Tokyo market had plunged in response to surprisingly weak figures for Chinese industrial activity, although sentiment had already been shaken by uncertainty over US monetary policy, AFP reports. The French CAC 40 index of leading ...

Nikkei dives 7pc on profit taking

Thu, 23 May 2013 03:49:57 -0400

(1 hr 11 mins ago) Tokyo share prices plunged more than seven percent Thursday on record volumes as investors rushed to take profit following weak Chinese data and after months of climbing. The Nikkei 225 index at the Tokyo Stock Exchange closed down 7.32 percent, or 1,143.28 points, to 14,483.98, while the Topix index of all first-section issues was down 6.87 percent, or 87.69 points, at ...

Nikkei falls over 7 | Sensex down over 300 pts | Live Blog

Thu, 23 May 2013 03:40:17 -0400

TOKYO: The Nikkei share average plunged 7.3 per cent on Thursday, its biggest one-day percentage drop in two years after weak Chinese factory data rattled investors, prompting them to take profits from a recent rally buoyed by massive Bank ...

Euro Credit Nikkei caranage heralds volatile session

Thu, 23 May 2013 03:40:01 -0400

European credit markets are opening sharply lower on the back of an extremely volatile overnight session in Asia. As of 0645GMT according to Tradeweb, the iTraxx Main index is 4bp wider at 91.5bp having tightened to another new S19 and 3yr plus generic low of 87bp on the close yesterday. The Crossover index is 17bp wider at 386bp having traded down to the S19 low of 367bp last night, a level that ...

Seoul shares drop 1.2 pct Nikkei China PMI spark investor jitters

Thu, 23 May 2013 03:28:47 -0400

Thu May 23, 2013 3:28am EDT * Chinese PMI, Nikkei tumble spark investor worries * Telcos find favour as investors seek high-dividend issues * Crude oil, chemicals issues lead falls SEOUL, May 23 (Reuters) - South Korean shares dropped 1.2 percent on Thursday after a slide in Japanese stocks and weak Chinese factory data hit investor sentiment, with chemical makers and energy-linked shares leading ...

Japan stocks dive as benchmark bond yield spikes

Thu, 23 May 2013 03:27:37 -0400

BANGKOK (AP) -- Japanese stocks plummeted Thursday after a spike in government bond yields and unexpectedly weak Chinese manufacturing spooked investors sitting atop months of massive gains in share prices. The Nikkei 225 in Tokyo nosedived 7.3 percent to close at ...

Asian markets sell-off on Fed and China

Thu, 23 May 2013 02:41:02 -0400

Thursday, May 23 07:18:29 Hawkish comments by U.S. Federal Reserve Chairman Ben Bernanke and weakness in China's factory activity rattled Asian markets today, sending stock prices down, the U.S. dollar to three-year highs, and Japanese government bond yields to their highest in a year. Stock and bond markets took their cue from the drop in U.S. equities and Treasuries after ...

Nikkei futures trade briefly halted cash Nikkei dives 6 pct

Thu, 23 May 2013 01:48:21 -0400

TOKYO | Thu May 23, 2013 1:48am EDT TOKYO May 23 (Reuters) - The Osaka Securities Exchange on Thursday briefly suspended trade in Nikkei futures due to a steep drop as investors took profits following a recent sharp rally, after weak Chinese factory activity rattled investors. The Nikkei share average slid as much as 6 percent to 14,682.05. The benchmark was last down 5.6 percent at ...

Nikkei slumps 3.7 pct on weak China data 10-yr JGB prices turn higher

Thu, 23 May 2013 01:40:33 -0400

Reset TOKYO (May 23): Japan's Nikkei stock average tumbled 3.7 percent on Thursday, in a dramatic turnaround from a 5-1/2-year high hit in morning trade and was on track for its biggest daily drop in two years, as weak Chinese factory activity data rattled investors. The sharp turnover in the Japanese stock market prompted investors to seek safety in government bonds, with the 10-year ...

Asian Markets Trade Lower On Economic Worries

Thu, 23 May 2013 00:44:02 -0400

economy following a weak manufacturing report from China. The overnight weak close on Wall Street amid doubts about further monetary stimulus from the U.S. Federal Reserve is also contributing to the weakness in the Asian region.The Australian stock market is trading sharply lower with investors pressing sales at several counters. Financial, consumer staples, industrial, mining and property ...

Nikkei slumps in afternoon trade

Thu, 23 May 2013 00:24:52 -0400

(8 mins ago) Tokyo shares plunged more than three percent in early Thursday afternoon trade as investors sold positions on weak Chinese data to lock in profits on recent rapid gains. The Nikkei 225 index at the Tokyo Stock Exchange lost 3.20 percent or 500.04 points to 15,127.22 at one point before narrowing its loss to 2.15 percent by 0400 GMT, AFP reports. The plunge came after HSBC said ...

Hang Seng slides by break

Thu, 23 May 2013 00:24:45 -0400

(8 mins ago) Hong Kong stocks were down 1.64 percent by the break on Thursday after Wall street fell on signs the US Federal Reserve could soon start tapering off its massive stimulus measures. The benchmark Hang Seng Index fell 381.34 points to 22,879.74 on turnover of HK$37.42 billion, AFP ...

Indian Shares To Follow Asian Markets Lower

Wed, 22 May 2013 23:15:46 -0400

markets lower on Thursday after Federal Reserve chief Ben indicated the central bank could slow down its pace of asset purchases going forward. Trading for the rest of the day would largely depend on the movement of the rupee, which fell for a fourth day to hit a fresh six-month low of 55.46 against the dollar yesterday. Benchmark indexes Sensex and the Nifty fell about 0.3 percent each on ...

Hong Kong shares extend losses after China flash PMI falls

Wed, 22 May 2013 22:21:59 -0400

HONG KONG | Wed May 22, 2013 10:21pm EDT HONG KONG May 23 (Reuters) - Hong Kong shares sank deeper into the red on Thursday and looked set for a third-straight loss after a preliminary private survey of May manufacturing activity in China came in at a seven-month low. Financial, materials and energy counters led the slide after China's HSBC flash purchasing managers' index (PMI) ...

US dollar rises on Bernankes comments

Wed, 22 May 2013 22:16:40 -0400

The US dollar rallied against major currencies Wednesday after Federal Reserve Chairman Ben Bernanke gave hints that the central bank may wind down its bond- purchasing pace at its next few meetings.The dollar temporarily retreated against its major counterparts as Bernanke said in testimony to Congress that the Fed's bond- buying program would remain in place for now. But it later pared ...

Wall Street sinks as Fed may taper earlier

Wed, 22 May 2013 22:16:38 -0400

US stocks reversed early gains into negative territory on Wednesday after Federal Reserve minutes from its most recent policymaking meeting showed the central bank may scale back its massive bond purchases in advance.The blue-chip Dow Jones Industrial Average shed 80.41 points, or 0.52 percent, to 15,307.17 points. The broader S&P 500 tumbled 13.81 points, or 0.83 percent, to 1,655.35 points. ...

Oil prices fall on ample supplies

Wed, 22 May 2013 22:16:35 -0400

Oil prices dropped on Wednesday as US crude stockpiles declined less than expected.The US crude supplies slipped 338,000 barrels to 394.6 million in last week, according to the Energy Information Agency, less than half as much as projected. Gasoline inventories increased 3.02 million barrels to 220.7 million, which were forecast to fall 300,000 barrels.Oil prices decline accelerated as the US ...

Gold falls on Bernankes mixed remarks

Wed, 22 May 2013 22:16:34 -0400

Gold futures on the COMEX division of the New York Mercantile Exchange fell Wednesday as the US Federal Reserve Chairman Ben Bernanke made mixed remarks before the Congress.The most active gold contract for June delivery fell 10.2 dollars, or 0.74 percent, to settle at 1,367.4 dollars per ounce.The US Fed Chairman Bernanke Wednesday said in his testimony to the Joint Economic Committee of the ...

Hang Seng Shanghai open lower

Wed, 22 May 2013 22:03:33 -0400

(14 mins ago) Stocks in Hong Kong opened 0.81 percent lower, reflecting falls on Wall Street after the US Federal Reserve hinted it could soon start to ease its policy of aggressive stimulus measures. The benchmark Hang Seng Index fell 189.05 points to 23,072.03 in the first minutes of trade. Stocks in Shanghai were down 0.44 percent in early trade ahead of the release of HSBC's ...

Positive start for Nikkei

Wed, 22 May 2013 22:02:58 -0400

(1 hr 7 mins ago) Stocks in Tokyo opened 0.72 percent higher after the yen fell against the US dollar on signals that the US Federal Reserve could soon scale back its aggressive stimulus measures. The benchmark Nikkei 225 index, which closed at its best level in more than five years yesterday, added 112.72 points to 15,739.98 at the ...

Asia Markets Tokyo stocks soar as Sydney Seoul retreat

Wed, 22 May 2013 21:57:49 -0400

HONG KONG (MarketWatch) -- Australian and South Korean stocks dropped Thursday on worries the Federal Reserve could downscale its bond purchases, while Japanese shares marched to fresh multiyear highs as several exporters got a lift from the weakened ...

PRECIOUS-Gold slips after Bernanke hints at slowing bond purchases

Wed, 22 May 2013 21:50:39 -0400

SINGAPORE, May 23 (Reuters) - Gold fell for a third straight session on Thursday after U.S. Federal Reserve Chairman Ben Bernanke hinted at reducing an $85 billion bond-buying programme that has increased the metal's appeal as a hedge against inflation. FUNDAMENTALS * Spot gold dropped 0.3 percent to $1,363.96 an ounce by 0018 GMT, holding near a two-year low of $1,321.35 reached in ...

Nikkei climbs 1.9 pct to new 5-12-year high Fast Retailing stars

Wed, 22 May 2013 21:34:24 -0400

* Bernanke remarks sees yen at 103 to dollar, aids exporters * Nikkei heads for fifth straight day of gain * Fast Retailing jumps as retail investors in hot pursuit By Dominic Lau TOKYO, May 23 (Reuters) - Japan's Nikkei average soared 1.9 percent to a 5-1/2-year high on Thursday, aided by exporters as the yen weakened against the dollar after the U.S. Federal Reserve chief suggested the ...

Hong Kong shares to open down 0.8 pct Chinese financials slide

Wed, 22 May 2013 21:25:10 -0400

HONG KONG | Wed May 22, 2013 9:25pm EDT HONG KONG May 23 (Reuters) - Hong Kong shares were poised for a weaker start on Thursday, with Chinese financials weak ahead of the HSBC China flash purchasing managers' index for May that could offer fresh clues on the world's second-largest economy. The Hang Seng Index was set to open down 0.8 percent at 23,066.7. The China Enterprises ...

Japan stocks rise on weaker yen banks drop

Wed, 22 May 2013 20:49:33 -0400

HONG KONG (MarketWatch) -- Japanese stocks on Thursday sidestepped concerns that the U.S. Federal Reserve may downscale its monetary stimulus to rise further toward multiyear highs, with a weakened yen giving several exporters a lift and offsetting losses in banks. The Nikkei Stock ...

Bernanke comments hit US stocks Australian dollar

Wed, 22 May 2013 19:52:40 -0400

United States Wall Street saw its biggest one day swing in six months and the Australian dollar dropped overnight as investors raised concerns that the US Federal Reserve will scale back its stimulus program shortly.Markets initially rose as Federal Reserve chairman Ben Bernankeaddressed Congress saying the quantitative easing program is providing significant benefits to the American economy ...

Nikkei set to pull back from 5-12-year highs on Bernanke remarks

Wed, 22 May 2013 19:17:40 -0400

TOKYO, May 23 (Reuters) - Japan's Nikkei average is expected to retreat from a 5-1/2-year high on Thursday after U.S. Federal Reserve chief Ben Bernanke suggested the central bank could scale back stimulus in coming months. The Nikkei is likely to trade between 15,550 and 15,700, strategists said, while Nikkei futures in Chicago closed at 15,640 on Wednesday, down 0.2 percent from the Osaka ...

PRECIOUS-Gold slides as Fed chief hints at reduced bond buying

Wed, 22 May 2013 16:02:10 -0400

* Spot gold slides after brief break over $1,400/oz * Sustained job gains could reduce Fed bond buying -Bernanke * U.S. dollar rallies vs basket of currencies after remarks (Rewrites throughout, updates prices, changes byline, dateline (prev London) By Carole Vaporean NEW YORK, May 22 (Reuters) - Gold turned sharply lower on Wednesday, as investors weighed U.S. Federal Reserve Chairman ...

REFILE-Panasonic to stop making silicon wafers at Oregon factory-Nikkei

Wed, 22 May 2013 14:50:16 -0400

Wed May 22, 2013 2:50pm EDT May 23 (Reuters) - Panasonic Corp will stop making silicon wafers, used in solar cells, at a factory in Oregon next month as it centralizes production at a plant in Malaysia, the Nikkei reported. Having shut down a plant in California last year, the company will have no processing facilities in the United States, the newspaper said. Panasonic makes silicon ingots at ...

Asian Markets Rally after Fed Reassurance on Bond-Buying

Wed, 22 May 2013 13:53:14 -0400

Asian markets rose in early trade, supported by a strong rally in Wall Street after comments from senior US Federal Reserve officials hinted that the Fed may not slow down its asset buying ...

Markets end winning streak

Wed, 22 May 2013 10:26:13 -0400

Stock markets in Shanghai and Shenzhen concluded a rollercoaster session on opposite sides of the fence Wednesday as indecision and sell-off pressures set in following recent rallies.The key Shanghai Composite Index retreated 0.12 percent, or 2.71 points, to close at 2,302.40; while the Shenzhen Component Index finished trading at 9,405.06 after adding 0.02 percent, or 1.52 points. Total turnover ...

Top banks on track to lend 900b yuan in May

Wed, 22 May 2013 10:26:13 -0400

China's four major banks issued new loans of 233 billion yuan ($37.98 billion) by May 21, 21st Century Business Herald reported Wednesday, citing industry sources, adding that total loans for the month could reach 900 billion yuan.Total loans issued by China's top four banks, including Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China and China ...