Asia stocks crumble: Shanghai topples more than 5%, Nikkei declines nearly 4%

Asia markets fell sharply on Thursday, with the stock indexes in Shanghai and Shenzhen both tumbling more than 5 percent. In the Greater China region, the Hang Seng index was down by 3.88 percent in afternoon trade. Over on the mainland, the Shanghai composite fell 5.22 percent to close at 2,583.46 and the Shenzhen composite plunged 6.445 percent to end at 1,293.90. The fall in the Shanghai index was its worst day since February 2016, according to Chinese financial services firm Wind Information


Asia markets fell sharply on Thursday, with the stock indexes in Shanghai and Shenzhen both tumbling more than 5 percent. In the Greater China region, the Hang Seng index was down by 3.88 percent in afternoon trade. Over on the mainland, the Shanghai composite fell 5.22 percent to close at 2,583.46 and the Shenzhen composite plunged 6.445 percent to end at 1,293.90. The fall in the Shanghai index was its worst day since February 2016, according to Chinese financial services firm Wind Information
Asia stocks crumble: Shanghai topples more than 5%, Nikkei declines nearly 4% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: eustance huang
Keywords: news, cnbc, companies, shenzhen, day, fell, dropped, asia, shanghai, close, nearly, markets, nikkei, topples, end, stocks, index, crumble, composite, declines


Asia stocks crumble: Shanghai topples more than 5%, Nikkei declines nearly 4%

Asia markets fell sharply on Thursday, with the stock indexes in Shanghai and Shenzhen both tumbling more than 5 percent.

In the Greater China region, the Hang Seng index was down by 3.88 percent in afternoon trade. Over on the mainland, the Shanghai composite fell 5.22 percent to close at 2,583.46 and the Shenzhen composite plunged 6.445 percent to end at 1,293.90.

The fall in the Shanghai index was its worst day since February 2016, according to Chinese financial services firm Wind Information.

In Taiwan, the tech-heavy Taiex dropped by 6.31 percent to close at 9,806.11, with shares of lens maker and Apple supplier Largan Precision plunging 9.89 percent.

Japan’s markets also faltered. The Nikkei 225 dropped by 3.89 percent to close at 22,590.86 while the Topix index declined by 3.52 percent to end the trading day at 1,701.86, with major sectors down.


Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: eustance huang
Keywords: news, cnbc, companies, shenzhen, day, fell, dropped, asia, shanghai, close, nearly, markets, nikkei, topples, end, stocks, index, crumble, composite, declines


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US judge declines to block iPhone imports, dealing a blow to Qualcomm in legal fight with Apple

A U.S. trade judge on Friday declined to block the importation of Apple iPhones with chips from Intel, handing a major defeat to Qualcomm in its high-stakes legal dispute with the iPhone maker. A U.S. International Trade Commission judge said Apple’s phones infringed one Qualcomm patent related to power management technology but denied the chipmaker’s request for a ban on the import of some iPhones into the United States. The agency judge said “public interest factors” weighed against granting Q


A U.S. trade judge on Friday declined to block the importation of Apple iPhones with chips from Intel, handing a major defeat to Qualcomm in its high-stakes legal dispute with the iPhone maker. A U.S. International Trade Commission judge said Apple’s phones infringed one Qualcomm patent related to power management technology but denied the chipmaker’s request for a ban on the import of some iPhones into the United States. The agency judge said “public interest factors” weighed against granting Q
US judge declines to block iPhone imports, dealing a blow to Qualcomm in legal fight with Apple Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-28  Authors: justin sullivan, getty images
Keywords: news, cnbc, companies, weighed, iphone, judge, trade, intel, fight, declines, request, iphones, blow, block, apple, technology, dealing, legal, imports, qualcomm, united


US judge declines to block iPhone imports, dealing a blow to Qualcomm in legal fight with Apple

A U.S. trade judge on Friday declined to block the importation of Apple iPhones with chips from Intel, handing a major defeat to Qualcomm in its high-stakes legal dispute with the iPhone maker.

A U.S. International Trade Commission judge said Apple’s phones infringed one Qualcomm patent related to power management technology but denied the chipmaker’s request for a ban on the import of some iPhones into the United States.

The agency judge said “public interest factors” weighed against granting Qualcomm’s request for a ban.

Representatives of Apple, Qualcomm, and Intel did not immediately respond to requests for comment.


Company: cnbc, Activity: cnbc, Date: 2018-09-28  Authors: justin sullivan, getty images
Keywords: news, cnbc, companies, weighed, iphone, judge, trade, intel, fight, declines, request, iphones, blow, block, apple, technology, dealing, legal, imports, qualcomm, united


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Asia markets down after Fed Chair Powell spurs Wall Street declines

The Nikkei 225 in Japan ended the trading day lower by 0.99 percent at 23,796.74, with most sectors closing lower. In the Greater China region, Hong Kong’s Hang Seng index was lower by 0.3 percent as of 3:15 p.m. HK/SIN. The Hong Kong stock exchange saw another highly anticipated listing on Thursday with the public debut of investment bank China Renaissance. The shares, which had an offer price of 31.80 Hong Kong dollars ($4.07) per share, remained lower at HK$26.45 per share in the afternoon. T


The Nikkei 225 in Japan ended the trading day lower by 0.99 percent at 23,796.74, with most sectors closing lower. In the Greater China region, Hong Kong’s Hang Seng index was lower by 0.3 percent as of 3:15 p.m. HK/SIN. The Hong Kong stock exchange saw another highly anticipated listing on Thursday with the public debut of investment bank China Renaissance. The shares, which had an offer price of 31.80 Hong Kong dollars ($4.07) per share, remained lower at HK$26.45 per share in the afternoon. T
Asia markets down after Fed Chair Powell spurs Wall Street declines Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-27  Authors: eustance huang
Keywords: news, cnbc, companies, shares, wall, spurs, share, composite, trend, declines, close, markets, chair, lower, asia, bank, hong, kong, powell, fed, china, street


Asia markets down after Fed Chair Powell spurs Wall Street declines

Asia markets were largely negative on Thursday, on the back of U.S. Federal Reserve Chairman Jerome Powell’s comments on inflation after the central bank decided to increase interest rates.

The Nikkei 225 in Japan ended the trading day lower by 0.99 percent at 23,796.74, with most sectors closing lower.

Down Under, the ASX 200 slipped by 0.18 percent to close at 6,181.2, with shares of Commonwealth Bank of Australia lower by 0.14 percent.

In the Greater China region, Hong Kong’s Hang Seng index was lower by 0.3 percent as of 3:15 p.m. HK/SIN. The Hong Kong stock exchange saw another highly anticipated listing on Thursday with the public debut of investment bank China Renaissance. The shares, which had an offer price of 31.80 Hong Kong dollars ($4.07) per share, remained lower at HK$26.45 per share in the afternoon.

The Shanghai composite fell by 0.54 percent to close at 2,791.78 while the Shenzhen composite slid by 1.26 percent to 1,429.61.

In South Korea, the Kospi bucked the overall trend to close higher by 0.7 percent at 2,355.43, with shares of industry heavyweight Samsung Electronics advancing by 0.21 percent.


Company: cnbc, Activity: cnbc, Date: 2018-09-27  Authors: eustance huang
Keywords: news, cnbc, companies, shares, wall, spurs, share, composite, trend, declines, close, markets, chair, lower, asia, bank, hong, kong, powell, fed, china, street


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Danger Signal: Too many global currency values are falling

A review of the values of 143 global currencies indicates that so far this year, more than 80 percent have fallen in value. Big economies like China are experiencing a 5 percent currency value decline while the Euro is off by 3 percent. The reason for these declines would appear to be the differing monetary policies of the United States and most of the rest of the world. The United States is experiencing solid economic growth and some signs of inflation. This has led the Federal Reserve to raise


A review of the values of 143 global currencies indicates that so far this year, more than 80 percent have fallen in value. Big economies like China are experiencing a 5 percent currency value decline while the Euro is off by 3 percent. The reason for these declines would appear to be the differing monetary policies of the United States and most of the rest of the world. The United States is experiencing solid economic growth and some signs of inflation. This has led the Federal Reserve to raise
Danger Signal: Too many global currency values are falling Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-20  Authors: richard x bove, eitan abramovich, afp, getty images
Keywords: news, cnbc, companies, values, signal, falling, currency, value, states, united, danger, global, months, declines, world, appear, 13, 15, experiencing


Danger Signal: Too many global currency values are falling

A review of the values of 143 global currencies indicates that so far this year, more than 80 percent have fallen in value.

Another eleven appear to be pegged to the dollar and 13 have risen in value. Of the 13 that have increased in value, only six are up more than 1 percent versus the dollar.

There have been outsized declines in countries like Venezuela (down 99 percent), Argentina (53 percent) and Turkey (38 percent). However, Brazil is down 20 percent, Russia 15 percent, India 11 percent, Sweden 10 percent, and the Philippines 8 percent. Big economies like China are experiencing a 5 percent currency value decline while the Euro is off by 3 percent.

The reason for these declines would appear to be the differing monetary policies of the United States and most of the rest of the world. The United States is experiencing solid economic growth and some signs of inflation. This has led the Federal Reserve to raise interest rates seven times in the past 22 months and it has nurtured the expectation that there will be 5 more increases in the next 15 months.


Company: cnbc, Activity: cnbc, Date: 2018-09-20  Authors: richard x bove, eitan abramovich, afp, getty images
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US judge declines to release accused Russian agent Butina pending trial

A U.S. judge on Monday refused to release accused Russian agent Maria Butina from jail pending trial, deciding that she remains a serious flight risk. U.S. District Judge Tanya Chutkan sided with prosecutors, who opposed a bid by Butina’s lawyers during a status hearing in the case to have her released ahead of her trial on charges of acting as an agent of the Russian government and conspiring to take actions on behalf of Russia. She has pleaded not guilty. The judge took the action even though


A U.S. judge on Monday refused to release accused Russian agent Maria Butina from jail pending trial, deciding that she remains a serious flight risk. U.S. District Judge Tanya Chutkan sided with prosecutors, who opposed a bid by Butina’s lawyers during a status hearing in the case to have her released ahead of her trial on charges of acting as an agent of the Russian government and conspiring to take actions on behalf of Russia. She has pleaded not guilty. The judge took the action even though
US judge declines to release accused Russian agent Butina pending trial Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-10  Authors: str, afp, getty images
Keywords: news, cnbc, companies, special, status, judge, declines, tanya, butina, pending, release, accused, sided, trial, prosecutors, took, agent, russian


US judge declines to release accused Russian agent Butina pending trial

A U.S. judge on Monday refused to release accused Russian agent Maria Butina from jail pending trial, deciding that she remains a serious flight risk.

U.S. District Judge Tanya Chutkan sided with prosecutors, who opposed a bid by Butina’s lawyers during a status hearing in the case to have her released ahead of her trial on charges of acting as an agent of the Russian government and conspiring to take actions on behalf of Russia. She has pleaded not guilty.

The judge took the action even though prosecutors admitted late on Friday that they were mistaken in their previous allegation that she had offered sex in exchange for a job at a special interest organization.


Company: cnbc, Activity: cnbc, Date: 2018-09-10  Authors: str, afp, getty images
Keywords: news, cnbc, companies, special, status, judge, declines, tanya, butina, pending, release, accused, sided, trial, prosecutors, took, agent, russian


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Asia markets post morning declines as trade concerns weigh

U.S. markets were closed on Monday for Labor Day. Another concern for Asia will be the state of emerging market currencies as the space continues to suffer weakness. On Monday, Indonesia’s rupiah fell to its weakest level in more than 20 years and the country’s central bank reportedly said it would intervene in foreign exchange and bond markets. The U.S. dollar index, which tracks the greenback against a basket of currencies, was at 95.143 as of 8:06 a.m. HK/SIN, holding largely firm from its le


U.S. markets were closed on Monday for Labor Day. Another concern for Asia will be the state of emerging market currencies as the space continues to suffer weakness. On Monday, Indonesia’s rupiah fell to its weakest level in more than 20 years and the country’s central bank reportedly said it would intervene in foreign exchange and bond markets. The U.S. dollar index, which tracks the greenback against a basket of currencies, was at 95.143 as of 8:06 a.m. HK/SIN, holding largely firm from its le
Asia markets post morning declines as trade concerns weigh Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-04  Authors: eustance huang
Keywords: news, cnbc, companies, level, concerns, dollar, futures, yen, morning, fell, index, suffer, week, trade, declines, asia, markets, weigh, post


Asia markets post morning declines as trade concerns weigh

One of the major economic focal points of the week is Canada’s expected resumption of negotiations with the U.S. on the future of NAFTA after the two nations failed to come to an agreement last week. U.S. markets were closed on Monday for Labor Day.

As for Asia’s largest economy, a survey released yesterday appeared to show that China is beginning to suffer some ill effects from its trade war against Washington: The Caixin/Markit Purchasing Manager’s Index (PMI) came in at 50.6, its lowest level since June 2017, as export sales fell for the fifth consecutive month.

Another concern for Asia will be the state of emerging market currencies as the space continues to suffer weakness. On Monday, Indonesia’s rupiah fell to its weakest level in more than 20 years and the country’s central bank reportedly said it would intervene in foreign exchange and bond markets.

The U.S. dollar index, which tracks the greenback against a basket of currencies, was at 95.143 as of 8:06 a.m. HK/SIN, holding largely firm from its levels yesterday.

The Japanese yen trade made a gain of 0.14 percent against the dollar at 111.92 yen while the Australian dollar weakened to around $0.7196 as of 8:18 a.m. HK/SIN.

In the oil markets, the global benchmark Brent crude futures were lower by 0.13 percent at $78.05 a barrel while U.S. crude futures were up by 0.32 percent at $70.02 a barrel.

Here is a look at the day ahead:


Company: cnbc, Activity: cnbc, Date: 2018-09-04  Authors: eustance huang
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Gold declines as rising global trade tensions buoy dollar

Spot gold was down 0.2 percent at $1,199.56 an ounce at 0255 GMT, while U.S. gold futures were down 0.2 percent at $1,204.30 an ounce. “Gold prices are down on the strong dollar, as the trade between the U.S and Canada has not been settled and (U.S. President Donald) Trump is pushing for another round of tariffs on China. All this is bad news for gold,” said Ji Ming, chief analyst at Shandong Gold Group. “If the tariffs are imposed this week, then gold might go down further to around $1,180 leve


Spot gold was down 0.2 percent at $1,199.56 an ounce at 0255 GMT, while U.S. gold futures were down 0.2 percent at $1,204.30 an ounce. “Gold prices are down on the strong dollar, as the trade between the U.S and Canada has not been settled and (U.S. President Donald) Trump is pushing for another round of tariffs on China. All this is bad news for gold,” said Ji Ming, chief analyst at Shandong Gold Group. “If the tariffs are imposed this week, then gold might go down further to around $1,180 leve
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Keywords: news, cnbc, companies, ounce, range, global, dollar, tensions, 02, gold, rising, trade, declines, buoy, tariffs, china, week, prices


Gold declines as rising global trade tensions buoy dollar

Gold fell on Monday, with prices dropping below the $1,200 technical level, as the dollar strengthened on worries over the potential for more tariffs between the United States and China as part of their trade war.

Spot gold was down 0.2 percent at $1,199.56 an ounce at 0255 GMT, while U.S. gold futures were down 0.2 percent at $1,204.30 an ounce.

“Gold prices are down on the strong dollar, as the trade between the U.S and Canada has not been settled and (U.S. President Donald) Trump is pushing for another round of tariffs on China. All this is bad news for gold,” said Ji Ming, chief analyst at Shandong Gold Group.

Trump has told his aides he is ready to impose tariffs on an additional $200 billion worth of imports from China as soon as a public comment period on the plan ends on Thursday.

Trump said on Saturday there was no need to keep Canada in the North American Free Trade Agreement and warned Congress that he would terminate the trilateral trade pact altogether.

“If the tariffs are imposed this week, then gold might go down further to around $1,180 levels. But, that is a good range to get in as a lot of physical investors are interested in buying at these prices,” Ming said.

Spot gold targets $1,185 per ounce, as it has broken a support at $1,200 again, according to Reuters technical analyst Wang Tao.

Gold prices have fallen about 8 percent so far this year amid rising U.S. interest rates, international trade disputes and the Turkish currency crisis, with investors parking their money in the U.S. dollar.

The dollar index, which measures the greenback against a basket of currencies, was up 0.1 percent at 95.204.

“In the near term, we see gold trading in a narrow range of $1190-1210, with move out of this range on either side would see further downside or upside risk,” said John Sharma, an economist at National Australia Bank.

Meanwhile, there is some indication that the bearish sentiment in the market has started to shift as there was a reduction in net short positions in the COMEX gold contracts in the week to Aug. 28, a first time in more than a month.

However, liquidations continued in SPDR Gold, the world’s largest gold-backed exchange-traded fund. Holdings have fallen over 13 percent since a peak in late April.

Spot silver fell 0.2 percent to $14.47 an ounce, after earlier falling to its lowest in more than two weeks at $14.37.

Platinum rose 0.6 percent to $787.40 an ounce, while palladium was down 0.5 percent to $976.60, after hitting a 10-week high on Friday at $984.97.


Company: cnbc, Activity: cnbc, Date: 2018-09-03
Keywords: news, cnbc, companies, ounce, range, global, dollar, tensions, 02, gold, rising, trade, declines, buoy, tariffs, china, week, prices


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Asian shares decline, with tech trading lower after Wall Street losses

Losses in Asia came on the back of declines in markets stateside: The Dow Jones Industrial Average lost 137.51 points and closed 0.54 percent lower at 25,162.41. The Nasdaq Composite dropped 1.23 percent and the S&P 500 finished the session lower by 0.76 percent. Tech shares in the U.S. were pressured following disappointing quarterly earnings from Tencent. Tencent on Wednesday announced profit for the quarter ending in June dipped 2 percent to 17.87 billion yuan ($2.59 billion) from one year ag


Losses in Asia came on the back of declines in markets stateside: The Dow Jones Industrial Average lost 137.51 points and closed 0.54 percent lower at 25,162.41. The Nasdaq Composite dropped 1.23 percent and the S&P 500 finished the session lower by 0.76 percent. Tech shares in the U.S. were pressured following disappointing quarterly earnings from Tencent. Tencent on Wednesday announced profit for the quarter ending in June dipped 2 percent to 17.87 billion yuan ($2.59 billion) from one year ag
Asian shares decline, with tech trading lower after Wall Street losses Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-16  Authors: eustance huang, cheang ming
Keywords: news, cnbc, companies, declines, yuan, street, dollar, trading, asian, overnight, following, losses, tech, wall, decline, billion, shares, markets, dropped, energy, lower


Asian shares decline, with tech trading lower after Wall Street losses

Elsewhere, the ASX 200 saw a relatively smaller drop of 0.68 percent, with the energy and material subindexes leading the way following a fall in commodity prices overnight. Major mining players such as Rio Tinto and BHP all seeing declines around 3 percent. In the energy space, Woodside Petroleum saw a slight dip of 0.61 percent while other names sustained larger declines, most notably Origin Energy which slid 6.49 percent.

Losses in Asia came on the back of declines in markets stateside: The Dow Jones Industrial Average lost 137.51 points and closed 0.54 percent lower at 25,162.41. The Nasdaq Composite dropped 1.23 percent and the S&P 500 finished the session lower by 0.76 percent.

Tech shares in the U.S. were pressured following disappointing quarterly earnings from Tencent. The sector, which has the largest weighting in the S&P 500, fell more than 1 percent following the disappointing announcement from the Chinese tech giant, with companies like Facebook and Alibaba all recording losses.

Tencent on Wednesday announced profit for the quarter ending in June dipped 2 percent to 17.87 billion yuan ($2.59 billion) from one year ago, coming in below the Thomson Reuters forecast of 19.67 billion yuan. That was also the first decline in profit for the company in almost 13 years.

Tencent shares had stumbled in the last session, dropping 3.61 percent in Hong Kong as its gaming business came under greater regulatory scrutiny. The tech giant’s U.S.-listed shares dropped 6.67 percent on Wednesday.

Emerging markets performed poorly overnight, with the iShares MSCI Emerging Markets ETF (EEM) falling more than 2.9 percent and moving into bear-market territory, referring to a drop of more than 20 percent from recent highs.

Concerns related to Turkey’s currency crisis were also in the background after the country’s currency dropped to a record low earlier this week. The lira held on to overnight gains to trade at 5.9517 to the dollar at 8:05 a.m. HK/SIN, strengthening after Turkey cut offshore banks’ access to its currency.

The dollar index, which tracks the dollar against a basket of currencies, was mostly steady overnight. The index was last at 96.729 after touching a 13-month high of 96.984 in the last session.

Meanwhile, the offshore yuan traded at 6.9448 at 8:03 a.m. HK/SIN after earlier weakening to trade at the 6.95 handle.

In Southeast Asia, Indonesia’s central bank on Wednesday raised interest rates by 25 basis points to 5.5 percent. Bank Indonesia has cumulatively increased rates by 125 bps so far this year.


Company: cnbc, Activity: cnbc, Date: 2018-08-16  Authors: eustance huang, cheang ming
Keywords: news, cnbc, companies, declines, yuan, street, dollar, trading, asian, overnight, following, losses, tech, wall, decline, billion, shares, markets, dropped, energy, lower


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Asian markets edge lower, with Hang Seng leading declines; Turkish lira steadies

Australian stocks firmed through the morning, with the S&P/ASX 200 reversing early declines to drift higher by 0.05 percent. The Shanghai Composite was around 0.7 percent lower, with most major insurers, such as Ping An Insurance Group, trading more than 1 percent lower. That was a common story across most sectors, with Tencent extending losses, last trading lower by 3.3 percent. The drop in the tech giant came amid Tuesday’s news that it had pulled a video game from one of its platforms. The Tu


Australian stocks firmed through the morning, with the S&P/ASX 200 reversing early declines to drift higher by 0.05 percent. The Shanghai Composite was around 0.7 percent lower, with most major insurers, such as Ping An Insurance Group, trading more than 1 percent lower. That was a common story across most sectors, with Tencent extending losses, last trading lower by 3.3 percent. The drop in the tech giant came amid Tuesday’s news that it had pulled a video game from one of its platforms. The Tu
Asian markets edge lower, with Hang Seng leading declines; Turkish lira steadies Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-15  Authors: cheang ming
Keywords: news, cnbc, companies, seng, dollar, lower, amid, markets, turkeys, declines, turkish, lira, currency, steadies, week, leading, came, hang, sentiment, edge


Asian markets edge lower, with Hang Seng leading declines; Turkish lira steadies

Australian stocks firmed through the morning, with the S&P/ASX 200 reversing early declines to drift higher by 0.05 percent. The heavily weighted financials sector, however, remained in negative territory, weighed down by Commonwealth Bank of Australia’s 3.37 percent fall amid an ongoing financial sector inquiry in the country.

Greater China markets all took a slight dip in early hours trade. The Shanghai Composite was around 0.7 percent lower, with most major insurers, such as Ping An Insurance Group, trading more than 1 percent lower.

Hong Kong’s Hang Seng Index traded close to 1.2 percent lower. That was a common story across most sectors, with Tencent extending losses, last trading lower by 3.3 percent. The drop in the tech giant came amid Tuesday’s news that it had pulled a video game from one of its platforms.

Markets in South Korea and India were closed on Wednesday.

The Turkish lira strengthened from a record low touched earlier this week, causing investor sentiment to firm overnight.

The lira was relatively stable at 6.3754 to the dollar at 9:54 a.m. HK/SIN, mostly holding onto overnight gains after firming some 8 percent in the last session.

The lira’s recent steep fall, which saw it plunge to an all-time low of 7.24 earlier this week, was triggered by increased U.S.-Turkey tensions over the detention of an American pastor in Turkey, but weakness in the currency also came against the backdrop of economic issues faced by the country.

Overnight moves in the currency came as Turkey’s Finance Minister Berat Albayrak said Tuesday that the country would protect the lira, adding that he thought the currency would firm, Reuters said.

The “rebound in the lira gave European banks and other emerging markets some respite. However, it is fair to say that the saga is not over,” David Plank, head of Australian economics at ANZ, said in a note.

“The root cause of Turkey’s problems — a very large external deficit denominated in foreign currency – remains unaddressed by authorities … Investors will remain wary of possible contagion to the European banking system and will be keeping an eye on other countries with high levels of foreign-currency debt,” he added.

Amid the improvement in market sentiment, Turkish President Recep Erdogan refused to back down, calling for Turkey to “produce enough for ourselves” in a speech in which he urged his people to boycott U.S. electronics. “If they have iPhone, there is Samsung on the other side. And we have our own telephone brands,” he said.

Stocks stateside rose on Tuesday amid the general improvement in sentiment: The Dow Jones Industrial Average rose 0.45 percent, or 112.22 points, to close at 25,299.92 and the S&P 500 added 0.64 percent to end at 2,839.96, with both indexes gaining after four straight sessions of declines.

The dollar index, which tracks the greenback against six other currencies, last stood at 96.732, just below a 13-month peak of 96.794 on Tuesday. Against the yen, the dollar extended gains to trade at 111.33 at 9:55 a.m. HK/SIN.

On the earnings front, Tencent and China Unicom are among the corporates reporting results.


Company: cnbc, Activity: cnbc, Date: 2018-08-15  Authors: cheang ming
Keywords: news, cnbc, companies, seng, dollar, lower, amid, markets, turkeys, declines, turkish, lira, currency, steadies, week, leading, came, hang, sentiment, edge


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Ten experts debate bitcoin’s recent declines and the future of cryptocurrency

“What you’re seeing now is a bit of panic selling” Brian Kelly said on CNBC’s “Power Lunch” on Tuesday. Bullish experts liken bitcoin to early Internet companies like Intel or Microsoft. These companies took a while to find their footing before having success. Bearish experts, on the other hand, fear bitcoin and other cryptocurrencies are part of a speculative bubble. Here is what 10 experts have to say about bitcoin.


“What you’re seeing now is a bit of panic selling” Brian Kelly said on CNBC’s “Power Lunch” on Tuesday. Bullish experts liken bitcoin to early Internet companies like Intel or Microsoft. These companies took a while to find their footing before having success. Bearish experts, on the other hand, fear bitcoin and other cryptocurrencies are part of a speculative bubble. Here is what 10 experts have to say about bitcoin.
Ten experts debate bitcoin’s recent declines and the future of cryptocurrency Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-15  Authors: thomas catenacci
Keywords: news, cnbc, companies, companies, speculative, youre, recent, cryptocurrency, bitcoin, timebullish, bitcoins, declines, weve, debate, took, selling, experts, success, future


Ten experts debate bitcoin's recent declines and the future of cryptocurrency

Bitcoin’s price was above $8,000 at the end of July. Now, in the middle of August, the cryptocurrency is down to around $6,500.

“What you’re seeing now is a bit of panic selling” Brian Kelly said on CNBC’s “Power Lunch” on Tuesday. “To me, it’s one of the better entry points that we’ve had in a long time.”

Bullish experts liken bitcoin to early Internet companies like Intel or Microsoft. These companies took a while to find their footing before having success. Bearish experts, on the other hand, fear bitcoin and other cryptocurrencies are part of a speculative bubble.

Here is what 10 experts have to say about bitcoin.


Company: cnbc, Activity: cnbc, Date: 2018-08-15  Authors: thomas catenacci
Keywords: news, cnbc, companies, companies, speculative, youre, recent, cryptocurrency, bitcoin, timebullish, bitcoins, declines, weve, debate, took, selling, experts, success, future


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