Chinese firms from carmakers to miners are ramping up their overseas spending, adding to pressure on the yuan amid an accompanying exodus of foreign capital. Chinese non-financial companies invested almost $129 billion outside the country in the first 11 months of this year, according to government dataBloomberg Terminal released Thursday. That puts outflows for 2024…
Stocks headed for the basement Wednesday as Wall Street traders pouted over the more cautious tone emanating from the US Federal Reserve. After fulfilling all expectations by cutting rates another quarter point, Fed Chair Jerome Powell made clear the central bank sees its mission now as one where it doesn’t need to be as quick…
SYDNEY/LONDON, Dec 16 (Reuters) – Shares around the world nudged lower on Monday on soft economic numbers from China and Europe and as surging bond yields challenged equity valuations, kicking off a week packed with central bank meetings and major economic data. Figures from China showed retail sales rose just 3.0% in November, compared with…
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South Korea’s currency and its stock market will take center stage on Monday, as investors respond to a weekend vote to impeach President Yoon Suk Yeol following his attempt to impose martial law. The Korean won will be the main focus for traders, after its heavy losses during the country’s recent political chaos. The currency…
China’s central bank expanded its gold reserves in November, ending a six-month pause in purchases after prices for the precious metal rose to a record. Bullion held by the People’s Bank of China climbed by 160,000 fine troy ounces last month to 72.96 million fine troy ounces, according to official data released on Saturday. The…
I’m Katia Dmitrieva, Asia economics correspondent in Hong Kong. Today we’re looking at the fallout from events in South Korea and calls for President Yoon Suk Yeol to resign. Send us feedback and tips to ecodaily@bloomberg.net or get in touch on X via @economics. And if you aren’t yet signed up to receive this newsletter,…
Salesforce Inc. reported quarterly revenue that topped analysts’ estimates, boosting investor hopes that the company’s much-hyped strategy for artificial intelligence products will lift financial results. The shares gained about 10% in extended trading. Sales increased 8.3% to $9.44 billion in the period ended Oct. 31, the company said Tuesday in a statementBloomberg Terminal. Analysts, on…
15 June 2022, Baden-Wuerttemberg, Rottweil: US dollar bills lie on a table in an office. Photo: … [+] Silas Stein/dpa (Photo by Silas Stein/picture alliance via Getty Images) dpa/picture alliance via Getty Images By any reasonable measure, President-elect Donald Trump was right when he said over the weekend that “there is no chance that the…
Asian stock markets posted uneven performances on Thursday, with gains in Tokyo and Seoul offset by declines in Hong Kong and Shanghai. The regional divergence reflects investor caution following a technology-led slump on Wall Street, where key indexes fell ahead of the Thanksgiving holiday. Japan‘s Nikkei 225 rose 0.6 percent to 38,349.06, buoyed by optimism…