South Korea’s Hyundai Motor Co said on Tuesday it had finalized a $5 billion electric vehicle (EV) battery joint venture in the U.S., as it reported first-quarter net profit had more than doubled, exceeding expectations. Hyundai and partner SK On, a battery unit of SK Innovation Co Ltd, will set up a new battery manufacturing […]
Singapore’s key consumer price gauge rose 5% in March, slightly lower than forecast, official data showed on Monday. The core inflation rate – which excludes private road transport and accommodation costs – rose 5% year-on-year in March, lower than the 5.5% rise seen in February. A Reuters poll of economists had forecast a 5.1% increase […]
Gold prices moved little on Friday, but stuck to key levels as a string of weak economic readings brewed concerns over slowing growth and fed into haven demand for the yellow metal. While gold prices were pressured by some strength in the dollar this week, softer-than-expected manufacturing and employment readings weighed on the greenback in […]
Most Asian stock markets retreated on Thursday, tracking a weak lead-in from Wall Street as fears of rising interest rates and slowing economic growth kept traders wary of risk-driven assets. China’s Shanghai Shenzhen CSI 300 and Shanghai Composite indexes were among the worst performers for the day, down about 0.6% and 0.7%, respectively. Chinese markets […]
Gold prices fell slightly in Asian trade on Wednesday, but hovered around key levels as markets awaited more cues on U.S. monetary policy from a string of upcoming Federal Reserve speakers and reports. The yellow metal retook the $2,000 level on Tuesday as the dollar and U.S. Treasury yields cooled after a recent recovery rally. […]
The U.S. dollar slipped lower in early European trade Tuesday, handing back some of the overnight gains as healthy Chinese growth data boosted risk sentiment. At 02:05 ET (06:05 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% lower at 101.707, after rising 0.5% overnight. China’s post-COVID […]
Asian stocks flat, Chinese markets rise on recovery hopes Most Asian stocks moved little on Monday tracking hawkish comments from Federal Reserve officials, while Chinese markets outperformed as the People’s Bank maintained medium-term lending rates ahead of a swathe of economic readings. China’s Shanghai Shenzhen CSI 300 and Shanghai Composite indexes rose about 0.8% each […]
Gold prices rose for a fourth straight session on Friday following more signs that U.S. inflation was easing, while persistent fears of a 2023 recession also underpinned safe haven demand for the yellow metal. Data on Thursday showed that U.S. producer price index inflation grew at a slower pace in March, coming a day after […]
Gold prices rose past key levels on Wednesday, boosted by safe haven buying after Minneapolis Federal Reserve President Neel Kashkari flagged a potential recession this year, with focus also turning to more U.S. economic cues due later in the day. Kashkari said that rising interest rates and a slowdown in lending after the collapse of […]
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