BEIJING (AP) — Asian stock markets tumbled Thursday after the Federal Reserve added to recession fears by saying it wasn’t finished raising U.S. interest rates to cool inflation. Hong Kong’s benchmark lost 3.1%. Shanghai, Seoul and Sydney also followed Wall Street lower after the Fed on Wednesday raised its key rate to the highest level…
(Reuters) – Swiss dental implants maker Straumann on Wednesday raised its 2022 organic sales growth outlook, citing post-pandemic recovery momentum. The company, which specialises in tooth replacement and orthodontic solutions, expects its revenue to grow in the mid-teens percentage range organically, against its earlier forecast for low-double-digit percentage growth. Straumann’s third-quarter organic sales came in…
HONG KONG (AP) — Chinese regulators downplayed China’s real estate slump and slowing economic growth while Hong Kong’s top leader pitched Hong Kong as a unique link to the rest of China at a high-profile investment summit Wednesday. About 200 global financial executives gathered to network and discuss issues such as global risks and sustainable…
By Stella Qiu SYDNEY (Reuters) – Asian shares climbed on Wednesday, led by Chinese stocks on reopening hopes, while the dollar sagged as investors braced for the U.S. Federal Reserve’s policy decision later in the day, with many hoping for signs of a slowdown in future rate hikes. European markets looked set to extend the…
(Reuters) -Twitter Inc will charge $8 a month for its Blue service, which includes its sought-after “verified” badge, new boss Elon Musk said on Tuesday as he seeks to boost subscriptions and make the social media network less reliant on ads. “Twitter’s current lords & peasants system for who has or doesn’t have a blue…
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell sought Wednesday to strike a delicate balance at a moment when high inflation is bedeviling the nation’s economy and commanding a central role in the midterm elections. Powell suggested that the Fed may decide in coming months to slow its aggressive interest rate increases. Yet he also…
BEIJING (Reuters) – An official of China’s state planner said on Wednesday that the country’s foreign investment has increased steadily so far this year and that it will encourage more foreign investment in the manufacturing industry. Xia Qing was speaking at an APEC workshop on supply chains in Beijing. China’s foreign direct investment (FDI) rose…
By Stella Qiu SYDNEY (Reuters) – Asian shares wobbled in cautious trading on Wednesday while the dollar sagged slightly as investors braced for the U.S. Federal Reserve’s policy outcome later in the global day with many looking for any signs of a slowdown in future rate hikes. MSCI’s broadest index of Asia-Pacific shares outside Japan…
By Kevin Buckland TOKYO (Reuters) – The U.S. dollar slipped from near a one-week peak versus major peers on Wednesday, with traders on tenterhooks before a looming Federal Reserve rate decision that should also give clues on the future policy path. The yen outperformed, seeing a sudden burst of strength mid-morning Japan time, with traders…
By Leika Kihara TOKYO (Reuters) – Bank of Japan policymakers took note of growing inflationary pressure with one of them calling for the need to eventually communicate an exit strategy from ultra-loose monetary policy, minutes of their meeting in September showed on Wednesday. The BOJ maintained ultra-loose monetary policy at the Sept. 22 meeting and…
