Philippine financial markets were closed on Tuesday along with government offices and schools as heavy overnight rains flooded parts of the capital Manila and nearby provinces.Currency, stocks and bonds trading were suspended after the office of President Rodrigo Duterte halted work in government offices, BSP (Bangko Sentral ng Pilipinas) Governor Nestor Espenilla said.
Asian stocks rose with US equity-index futures and the dollar rebounded from its lowest in more than two years as hurricane Irma’s force waned and as the United Nations prepared to vote on tougher North Korean sanctions.Equities advanced in Tokyo, Seoul and Sydney as Treasuries fell. The dollar rose against major peers as Irma, while devastating, didn’t reach the feared Category 5 storm that some had expected and looks to have spared Miami.
The rally in Indonesian bank stocks may be nearing an end amid sluggish credit growth and tougher regulations for loan quality assessments.Equity analysts are now downgrading banking stocks after the Jakarta Finance Index rallied 21 percent this year – more than double that of the main gauge – as they expect nonperforming loans in the 527 billion dollars industry to creep up again.
Asian stocks climbed, led by South Korea’s benchmark gauge, as investors turned their focus away from Pyongyang.The MSCI Asia Pacific Index advanced 0.3 percent to 160.61 as of 5:01 p.m. in Hong Kong, with most regional benchmarks up. The Kospi rose 1.1 percent as the region’s best performer, while Japan’s Topix added 0.4 percent on the back of automakers and machinery companies.
The Platinum Group, whose wholesale fashion mall in Bangkok attracts about 15 million people yearly, expects booming Chinese tourism to support its retail shopping centre due to open next year.The firm is investing about 6 billion baht ($180 million) in the project and is banking on the deep pockets of Chinese visitors to woo retailers, according to President Chanchai Phansopha.
Asian stocks were higher after Wall Street equities rose as investors weighed a U.S. deal that ensures the funding of its government through mid-December against persistent geopolitical tensions. The yen stayed lower after an overnight drop.Most industry groups advanced, lifting the MSCI Asia Pacific Index. U.S.
Foreign investors, used to double-digit returns from Indonesian stocks, are suddenly deserting equities in favour of bonds following a sovereign rating upgrade and the central bank’s signal that it’s open to more interest rate cuts to spur growth.
The North Korean nuclear crisis dragged Asian markets further into the red on Wednesday as world powers struggled to agree how to deal with the isolated state, while doubts about further US interest rate hikes dragged the dollar.With few other catalysts to deflect attention from the face off with Pyongyang, investors continue to flock to safe-haven assets, sending gold to near one-year highs and the yen flying.UN Secretary General Antonio Guterres warned against "confrontational rhetoric
As Freeport-McMoRan celebrates an arrangement to end a multi-year dispute with Indonesia over the giant Grasberg mine, investors are fretting over the costs.Shares in Phoenix-based Freeport fell the most among mining peers on Tuesday after the company said it reached an “understanding” with the government of Indonesia that will allow it to continue to operate its flagship copper-and-gold asset through 2041.Under the terms of the deal, Freeport will divest an additional 41.64 percent of PTFI,
Asian stocks advanced after President Donald Trump’s measured response to North Korean missile launches and comments from Kim Jong Un suggested geopolitical tensions will ease off. The yen fell for a second day.Equity indexes in Japan, South Korea and Australia opened higher after U.S. stocks rebounded from losses initially sparked when Kim’s regime fired a missile over Japan.
Stock markets across Southeast Asia tumble as investor sentiment is hurt after North Korean fired a ballistic missile over Japan as investors are likely to turn to safe-haven assets like gold.At late morning, Malaysia’s FBM KLCI declined 10 points or 0.57% to 1,759.49.
