Asian Economy

The dollar received some support overnight from better-than-expected U.S. manufacturing data, which also showed a mitigation in price increases

In the case of India, this transition of employment has been relatively slow: the share of agricultural employment is higher and has been slower to fall than in many emerging economies

Sri Lanka's new president faces uphill battle to revive debt-ridden economy

The yen rose more than 0.5 per cent to an intraday high of 152.835 per dollar, its strongest in 2-1/2-months

MSCI's broadest index of Asia-Pacific shares outside Japan slid 0.1 per cent and was headed for its worst week in over a month with a 2.4 per cent loss

Markets have now fully priced in a quarter-point rate cut from the Fed in September, with a total easing of 68 basis points expected by the end of the year

China's 30-year government bond yield rose 2.5 basis points (bps) following the PBOC statement, while 10-year yields were up around two basis points

Consumption is among key factors the Bank of Japan (BOJ) is scrutinising to gauge the strength of Japan's economy and decide how soon to raise interest rates

US stocks on Friday ended lower after an early rally fizzled

The South Asian island nation defaulted on its foreign debt in May 2022 after its economy was driven to the brink by a severe fall in foreign exchange reserves

Late last week, partly in response to some policymakers' comments, global bonds retraced a rally that had followed an encouraging fall in US CPI data

The yen has depreciated by roughly 10% against the dollar so far this year despite the BOJ's decision in March to end eight years of negative rates

MSCI's broadest index of Asia-Pacific shares outside Japan climbed slightly and hit its highest since early 2023

Chinese shares see earlier gains, with bluechip stocks rising 1 per cent and Hong Kong's Hang Seng index increasing 1.2 per cent

Japan's Nikkei gained 1.3% and S&P 500 futures were steady after the cash index logged a 1 per cent rise overnight

Much of Asia is returning from a holiday that had closed markets on Wednesday, though Chinese bond, currency and stock markets remain shut through the rest of the week

Bilateral currency swaps can facilitate trade and investment and are a useful addition to the global financial safety net, Governor Pan Gongsheng told the annual gathering of the Boao Forum for Asia

However, that Sri Lanka and Bangladesh are veering towards the RCEP compounds an already complex situation for India

Rupee closed the day at 83.38 against the dollar as compared to previous close of 83.34 per dollar, which is also a previous closing low

To meet the goal of limiting global warming to 1.5 degrees Celsius (2.7 degrees Fahrenheit), nine major Asian economies must increase the share of electricity they get from renewable energy from the current 6% to at least 50% by 2030, according to a report by a German thinktank released Wednesday. Nearly a third of that renewable energy should come from wind and solar power, said the report by researchers of Berlin-based Agora Energiewende. A fifth would be hydropower and other clean sources and the remainder, fossil fuels. The study analysed energy plans of both developing nations like Indonesia and Vietnam, where demand for energy is growing rapidly, and wealthier places like Japan and South Korea, which have among the highest burdens of per capita greenhouse gas emissions. It did not include China, the world's biggest emitter of carbon, or India, another major contributor. A global temperature increase of 1.5C (2.7F) since pre-industrial times is considered a critical climate ...