Economy News

Asian Shares Struggle to Record Gains, Dollar Steadies

Asian shares struggled to muster gains on Tuesday, while the dollar inched higher but remained not far from its lowest level against the yen in more than three months.

May 20, 2014

Modi's Victory to Trigger Big Shares Sale, IPO May have to Wait

Narendra Modi's landslide election win is set to trigger billions of dollars in share sales by Indian companies riding market optimism, but big-ticket IPOs may have to wait until the new leader proves he can deliver on promised reforms.

May 20, 2014

Asian Shares Soft, China Slowdown Fears Resurface

Chinese shares led Asia markets down on Monday, as concerns about slower growth in the world's second-biggest economy checked risk appetite and took a large slice off Australian equities.

May 19, 2014

RBI Buying Dollars to Halt Rupee Gains - Traders

The Reserve Bank of India was spotted buying dollars via state-run banks starting around 58.47, which was the rupee's strongest level in 11 months, three traders said.

May 19, 2014

Rupee Sees Best Week in Eight Months; Hits 11-month High

The rupee strengthened to its highest level in 11 months on Friday and posted its best weekly gain in eight months as the Bharatiya Janata Party and its allies headed towards an overwhelming majority in the country's elections, sending shares to record highs.

May 17, 2014

S&P says India's Fiscal, Econ Reforms to Determine Credit Rating

The fiscal and economic reforms taken by India's new government in the next two to three months will have "significant implications" on India's sovereign credit rating, Standard & Poor's Ratings Services said on Friday.

May 17, 2014

Sensex Hits Record High above 25,000; BJP to Face Key Investor Tests

The BSE Sensex and Nifty surged to record highs while the rupee strengthened to an 11-month peak against the dollar on Friday as the opposition Bharatiya Janata Party led by Narendra Modi swept to a resounding majority in the world's largest election.

May 17, 2014

Stronger Yen Hits Japan Shares, Lower Yields Pressure Dollar

Asian shares were under pressure on Friday, with Japanese stocks skidding as the yen rose against the dollar, which has struggled in recent days on the back of lower U.S. Treasury yields.

May 16, 2014

State Banks to Seek Market Funds on Modi Growth Hopes

State banks plan to tap capital markets for billions of dollars after a new government takes office, executives and bankers say, betting on a revival in credit demand and giving them a chance to shore up battered balance sheets.

May 16, 2014

Rupee Hits Near 10-month High, Biggest Gain in Three Weeks

The rupee strengthened to its highest level in about 10 months on Thursday, while also posting its biggest single-day gain in nearly three weeks on the back of sustained dollar inflows into domestic shares ahead of election results.

May 15, 2014

Japan Q1 Growth Fastest in more than 2 years Before Tax Hike

Japan's economy grew in the January-March quarter at the fastest pace in more than two years as consumers rushed to spend before a sales-tax hike and business investment rose in a sign of confidence in the prospects for future growth.

May 15, 2014

Asian Shares Tread Water, Bonds Supported

Asian shares pared early losses on Thursday but held below the previous session's one-month highs, while expectations of credit easing by the European Central Bank knocked yields on U.S. and European bonds.

May 15, 2014

Asian Shares Edge up, Euro Pressured

Asian shares inched up on Wednesday, while the euro wobbled close to five-week lows on heightened speculation of more European Central Bank stimulus next month.

May 14, 2014

Asia Sidesteps Ukraine Woes, Vote Hopes Spur Indian Stocks

Asian shares and the dollar rose on Tuesday as tensions in Ukraine were eclipsed by a strong night on Wall Street, with Indian equities rallying hard on hopes an election victory for the business-friendly opposition party would spur a revival in the region's third-biggest economy.

May 13, 2014

SEBI 'Keeping Close Watch' after Shares Surge - Source

The Securities and Exchange Board of India (SEBI) is keeping a close watch on markets after shares rallied to record highs on speculation that exit polls would show the opposition Bharatiya Janata Party and its allies winning a majority in the election, a senior official with direct knowledge of the matter told Reuters.

May 13, 2014