Latest: Asia Stock Market News
Hong Kong bucked the trend across the region finding some minor gains but Sydney, Seoul and Taipei suffered as fears over global growth and inflation dominated
HSBC shares added 1.85% in morning trade, outperforming a flat local market. Top investor Ping An urged the bank to look at options such as spinning off its Asian business
Shares plunged, then recovered, after CCTV revised a report to make clear the individual involved was not billionaire Alibaba founder Jack Ma
Concerns of rising raw material costs and supply chain bottlenecks weighed on manufacturing companies across China, Taiwan and South Korea
Sources say the $732 million of Life Insurance Corporation shares held back for key investors have been oversubscribed
Tokyo, Seoul, Mumbai, Manila and Wellington all fell with traders preoccupied by this week’s critical Fed chiefs meeting
Improved profitability comes on the back of shrinking bad debts.
Reports of an agreement in the long-running US-China delisting row also buoyed investors with Hong Kong tech firms surging
JPMorgan has cut its yuan forecasts twice in a week, and analysts at Standard Chartered, HSBC and others have also turned bearish on the Chinese currency
E-commerce giants Alibaba, JD.com, and Meituan all closed up more than 15% while the Hang Seng Tech index climbed more than 10%.
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AF TV: Market Analysis
Markets: The Big Picture
With a market cap of$240 billion, chipmaker ASML is Europe’s most valuable tech company. Its market-leading position comes from its monopoly in Extreme Ultraviolet Lithography (EUV) machines which allow chipmakers to make smaller, faster and smarter semiconductors
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Oil & GasIndia Is Likely Exporting Refined Russian Oil to the WestIndia’s fast-rising Russian oil imports are being matched by its rising oil exports suggesting it may be reselling Russia’s oil to the West.
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MarketsApple Asks Suppliers in Taiwan to Meet China Label StandardsUS tech giant Apple told its Taiwan suppliers that products moving to China must be labelled to state that the island is a part of China and not an independent nation
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MarketsIndian-Owned Tech Firms See Sharp Growth in UKDespite a moribund British economy and heavy corporate tax, Indian-owned tech firms are growing in the UK.
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MarketsChina Becomes World’s Second-Biggest Bitcoin Mining HubThe Bitcoin mining ban in China last year had collapsed its crypto markets. Despite that, the country has reemerged as a major bitcoin mining hub, according to research by the UK's University of Cambridge.
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