Markets

Stocks rally as North Korea fear abates; yen drops: markets wrap

Asian equities extended gains and the yen tumbled as the prospect of war between the U.S. and North Korea receded, buoying stocks from New York to Tokyo and diverting flows away from haven assets.Stock indexes from Tokyo to Hong Kong to Sydney climbed after the S&P 500 Index surged 1 percent. Measures of equity volatility tumbled in Japan and Hong Kong after the CBOE Volatility Index, known as the VIX, slumped 21 percent, paring some of last week’s surge.

15 August 2017
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Ho Chi Minh exchange malfunction affects stock market

A malfunction struck Vietnam’s main stock exchange on Tuesday, briefly halting trading in the morning session.The Ho Chi Minh City Stock Exchange experienced “some errors with distribution of market data,” the bourse said in an emailed statement.The glitch occurred five days after the start of derivatives trading in Vietnam.

15 August 2017
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HSBC is said to hire three goldman veterans for Asia equities

HSBC Holdings Plc has hired three executives from Goldman Sachs Group Inc. as it seeks to bolster its equities business in the Asia-Pacific region, people familiar with the matter said.Michael Chandler, formerly Goldman Sachs’s co-head of Asia-Pacific research sales, has joined HSBC as head of equity sales for the region, the people said, asking not to be named as they are not authorized to discuss personnel matters.

15 August 2017
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Singapore home sales rise 35% in July as new projects launched

Singapore home sales rose 35 percent in July, as more new projects were launched.Developers sold 1,108 units last month, compared with 820 in June, according to Urban Redevelopment Authority data released Tuesday. A total of 692 new units were offered, up from 159 in June, the data showed.Singapore’s leaders, determined to keep a lid on home prices in the city-state, have unleashed a series of cooling measures since 2009.

15 August 2017
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Partnership with Geely opens up more opportunities for Proton

Malaysian carmaker Proton Holdings Bhd, which has been in existence for more than 30 years, has come a long way and managed to capture a share in the local automotive market. It has made a significant progress in the designing and development cars that have met high safety ratings.

14 August 2017
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‘Annabelle’ conjures sales of $35 million to lead box office

“Annabelle: Creation,” the latest installment in a Warner Bros. horror series, opened as the top movie in North America with sales of $35 million over a slow weekend, easily beating two other new films in wide release.A prequel from “The Conjuring” series, “Annabelle: Creation” took in an estimated $35 million at U.S. and Canadian theaters, researcher ComScore Inc. said in an email Sunday.

14 August 2017
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Southeast Asia stocks show how it's time to break free: Gadfly

Southeast Asia is starting to look like something of a haven as tensions surrounding North Korea swirl.Last week, when Donald Trump threatened to unleash fire and fury on Pyongyang, export-oriented North Asia was hit the hardest, with the Kospi Index and Hong Kong's Hang Seng down 3.2 percent and 3.5 percent respectively over a three-day period. Reaction in Indonesia, Thailand and the Philippines was relatively muted.This response can't just be explained away by geopolitical risk.

14 August 2017
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Bitcoin surges past $4,000 as speed breakthrough to fuel spread

Bitcoin soared past $4,000 for the first time on growing optimism faster transaction times will hasten the spread of the cryptocurrency.The largest digital tender jumped to a peak of $4,125.17 on Monday, a gain of 15 percent since Friday, after a plan to quicken trade execution by moving some data off the main network was activated last week.

14 August 2017
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Philippine central bank head seeks calm as peso hits 11-year low

Bangko Sentral ng Pilipinas Governor Nestor Espenilla called for calm on Sunday after the peso fell to an almost 11-year low against the dollar last week, saying the currency isn’t expected to free fall given the nation’s strong economic fundamentals."The peso is market-determined. It’s natural for it to show volatility as it adjusts to market conditions and all the short-term uncertainties such as increased tension in North Korea,” Espenilla said in a phone message to reporters.

14 August 2017
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AEC implementation to impact ASEAN auto sector in three levels

The implementation of ASEAN Economic Community (AEC) should be expedited to address the challenges by introducing policies such as ASEAN Single Window (ASW) and Mutual Recognition Arrangement (MRA) that would integrate ASEAN as a single market.Frost & Sullivan senior director for mobility Dushyant Sinha said the implementation of AEC will impact the region's auto sector at three levels.

14 August 2017
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Taming of Asia's Most Volatile Currencies Is Creating New Danger

Policy makers in Indonesia and Malaysia have been so successful in quashing currency volatility that this is breeding a new danger: complacency.Traders are being deprived of the experience to cope when fluctuations inevitably return, according to PT Bank OCBC NISP in Jakarta.

14 August 2017
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Asian Stocks Sink Most This Year on U.S. - North Korea Rhetoric

Asian equities excluding Japan slid the most in eight months on Friday as the rhetoric between U.S. and North Korean leaders intensified.The MSCI Asia Pacific Index excluding Japan lost 1.6 percent to 155.61 as of 4:57 p.m. in Hong Kong, set for its longest losing streak since July 4, as five stocks declined for each one that advanced. Financial and technology shares dropped the most.

11 August 2017
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