SEOUL (Reuters) – Most of the South Korean central bank’s board members cited concerns about the U.S. banking sector’s health as a major factor to keep interest rates steady at their April 11 meeting, minutes showed on Tuesday. While the collapse of U.S. lender Silicon Valley Bank had only limited direct impact on local markets,…
By Stella Qiu SYDNEY (Reuters) -Australia’s central bank on Tuesday stunned markets by raising its cash rate 25 basis points when traders had looked for an extended pause, saying inflation was way too high and warned that even further tightening may be needed to bring it to heel. The unambiguously hawkish policy stance sent the…
ISTANBUL (Reuters) – Growth in new orders and output helped Turkish factory activity expand at a faster pace in April, as the sector continued its recovery in the wake of massive earthquakes in early February. The Purchasing Managers’ Index (PMI) for manufacturing rose to 51.5 last month from 50.9 in March, staying above the 50-point…
By Lewis Jackson SYDNEY (Reuters) – Australia’s biggest landlords and developers played down concerns about inflated commercial property valuations at a conference on Tuesday, while acknowledging economic uncertainty was making investors and renters more cautious. Commercial real estate prices are a major concern for investors globally as public markets price the impact of a slowing…
MOSCOW (Reuters) – Activity in Russia’s manufacturing sector grew for the 12th month running in April, and new export orders ended a 14-month sequence of decline, while inflationary pressures regained momentum, a business survey showed on Tuesday. The S&P Global Purchasing Managers’ Index (PMI) for Russian manufacturing dropped in April to 52.6 from 53.2 in…
JOHANNESBURG (Reuters) – South Africa’s rand was marginally stronger in early trade on Tuesday, with market attention this week likely to hinge on local purchasing managers’ index (PMI) surveys and a U.S. Federal Reserve interest rate meeting. At 0550 GMT, the rand traded at 18.3725 against the dollar, around 0.1% stronger than its previous close….
By Eric Onstad, Siyi Liu and Mai Nguyen LONDON/BEIJING/HANOI (Reuters) -Lithium prices rebounded this week for the first time in five months after tumbling from record highs, but new supply of the key mineral for electric vehicle (EV) batteries coming on stream is likely to weigh on the market next year. A decision by world…
By Stefanno Sulaiman JAKARTA (Reuters) – Indonesia’s consumer price index rose 4.33% annually in April, government data showed on Tuesday, slowing from the previous month and reinforcing expectations for the central bank to leave interest rates unchanged in the coming months. Annual inflation was lower than the 4.97% pace recorded in March and slightly below…
By Leika Kihara (Reuters) -The International Monetary Fund (IMF) raised Asia’s economic forecast on Tuesday as China’s recovery underpinned growth, but warned of risks from persistent inflation and global market volatility driven by Western banking-sector woes. The reopening of China’s economy will be pivotal for the region with the spillover to Asia seen focused on…
By Jeff Mason, Trevor Hunnicutt and David Brunnstrom WASHINGTON (Reuters) -President Joe Biden told his counterpart Ferdinand Marcos Jr. on Monday that the U.S. commitment to the defense of its ally was “ironclad,” including in the South China Sea where Manila is under pressure from China. Marcos, on the first White House visit by a…
