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Pound dives on increased no-deal Brexit prospect

The pound fell against the dollar and euro on Wednesday as Britain’s government moved to extend the suspension of parliament, increasing the likelihood of a no-deal Brexit. Meanwhile, global stocks had a mixed day, with Wall Street staging a late rally, shrugging off its fears for the slowing world economy. In London, British Prime Minister […]

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Tokyo stocks open modestly higher

Tokyo stocks opened slightly higher on Wednesday, as positive sentiment from China’s announcement of stimulus and bargain-hunting purchases offset the negative impact of losses on Wall Street. The benchmark Nikkei 225 index was up 0.20 percent or 41.11 points at 20,497.19 in early trade, while the broader Topix index was up 0.13 percent or 1.92 […]

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China’s yuan sinks to lowest in 11 years amid trade tension

China’s currency on Monday slid to its lowest point in more than 11 years as concerns over the US trade war and the potential for global recession weighed on markets. The onshore yuan fell to 7.1487 to the US dollar, its weakest point since early 2008, in Asian trading. Global economic tensions have intensified in […]

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Tokyo stocks open higher following Wall St climb

Tokyo stocks opened higher on Monday, tracking rallies on Wall Street with all eyes on key events this week including a major speech by the US Federal Reserve chief. The benchmark Nikkei 225 index was up 0.90 percent, or 182.81 points, at 20,601.62 in early trade, while the broader Topix index climbed 0.68 percent, or […]

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US-China trade deal in doubt, Trump says US ‘not ready’

President Donald Trump cast more doubt on chances for a trade deal with Beijing on Friday, signaling he might cancel talks set for September amid an intensifying US-China trade war. “We’ll see whether or not we keep our meeting in September,” Trump told reporters at the White House before heading out for fundraisers in New […]

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Global Easing Gathers Pace as New Zealand Shocks With Bigger Cut

The dovish turn sweeping the global economy gathered pace Wednesday as New Zealand shocked markets with a half-percentage point interest-rate cut, sending its currency tumbling. Reserve Bank Governor Adrian Orr and his policy committee slashed the official cash rate to a record low 1% as slowing economic growth prevents inflation from returning to the central […]

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Australia’s Trade Surplus Swells to Fresh Record as Imports Drop

Australia’s trade surplus rocketed to a fresh record in June as iron ore receipts pushed even higher and a falling international oil price lopped a chunk off imports. The windfall swelled to A$8 billion ($5.4 billion), a third higher than May’s upwardly revised A$6.2 billion, data from the Australian Bureau of Statistics showed Tuesday. Iron […]

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Hong Kong’s Stock Rout Enters 10th Day, Worst Streak Since 1984

Hong Kong stock investors headed for the exit as economic woes, street protests and China’s weak yuan intensified worries over potential outflows from the city. The MSCI Hong Kong Index pared an earlier drop to fall 0.8% as of the mid-day break, heading for a 10th straight decline a day after a general strike led […]