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Stock Market / Finance in Asia

  • Fitch maintains Korea’s AA- credit rating

    SOUTH KOREA, 2017/10/15 Credit ratings firm Fitch Ratings has affirmed that Korea’s long-term foreign-currency issuer default rating (IDF) stands at AA- with a stable outlook. Fitch has rated Korea’s national credit rating as AA- since September 2012 and has maintained the grade for five years. AA- is the fourth highest level in Fitch’s rating tiers.
  • Bitcoin price soars above $5,000 to record high

    WORLD, 2017/10/14 The price of bitcoin has smashed through $5,000 to an all-time high. The cryptocurrency rose by additional than 8% to $5,243 having started the year at $966. Bitcoin has soared by additional than 750% in the completed year and is worth four times as much as an ounce of gold. But the price has been volatile. The digital currency plunged below $3,000 in mid-September next the Chinese authorities announced a crackdown. Beijing ordered cryptocurrency exchanges to stop trading and block new registrations, due to fears that increasing numbers of consumers piling into the bitcoin market could prompt wider financial problems.
  • Warnings grow louder over cryptocurrency as valuations soar

    WORLD, 2017/10/09 Joe Kennedy, patriarch of the Kennedy clan, said he knew it was time to exit the stock market next a shoeshine boy gave him stock tips. If everyone thinks it’s time to buy, it’s time to sell, reasoned Kennedy. Again came the great crash of 1929 to prove him right. Perhaps some of that thinking could be applied today to the digital currency bonanza. In recent months, warning voices have grown louder as the digital assets known as cryptocurrencies have attained record valuations. The price of bitcoin, the majority famous cryptocurrency, has soared this year, from $969 to additional than $5,000 in September; rival Ethereum began the year at $8 and has traded as high as $400 – while new coins or tokens are issued weekly, often attached to tech startups as a way to raise venture capital.
  • Stocks May Open Lower Amid Geopolitical Concerns

    UNITED STATES, 2017/09/26 Next ending the previous session modestly lower, stocks may see further downside in early trading on Friday. The major index futures are currently pointing to a lower open for the markets, with the Dow futures down by 38 points. Geopolitical concerns may weigh on Wall Street amid an escalating war of words between North Korean leader Kim Jong Un and President Donald Trump. In a statement circulated by national news agency KCNA, Kim described Trump's threat to " totally destroy" North Korea as "mentally deranged behavior."
  • Japan policymakers soften fiscal pledges as election prospects loom

    JAPAN, 2017/09/23 Senior Japanese policymakers on Friday said they may need to adjust calculations underlying the country's plans to trim spending, an indication the government could look to water down previous pledges to improve fiscal prudence. The statements are a nod to recent reports premier Shinzo Abe will delay the timing for conference fiscal reform goals to allow the scope to boost spending on education.
  • Growing risk of 'debt trap' if interest rates stay low

    WORLD, 2017/09/23 A new warning has been issued about the growing risk of a “deficit trap” if interest rates around the world remain near zero, which has encouraged borrowing by households, businesses and governments. The Bank for International Settlements – known as the central bankers’ bank – highlighted the vulnerability of consumer, business and government finances to interest rate increases in its 174-page quarterly statement. Claudio Borio, the chief of the monetary and economic department, described this as “a defining question for the world economy”.
  • Five reasons why global stock markets are surging

    WORLD, 2017/09/23    
  • Global appeal for Dubai's first FinTech accelerator

    INDIA, 2017/09/08 FinTech Hive at DIFC, the region’s initial FinTech accelerator launched by Dubai International Financial Centre before this year, has received over 100 applications from additional than 32 nations for its inaugural programme. The majority of applications have come from the UAE, the UK, the US, India, Nigeria and Singapore, and cover a range of concepts inclunding large data and analytics, the blockchain, payments, P2P and crowdfunding, roboadvisors, and mobility, a statement said. FinTech Hive at DIFC receives over 100 applications from more than 32 countries for inaugural programme
  • BRICS countries considering own cryptocurrency as settlement mechanism

    CHINA, 2017/09/07 The BRICS Finance Committee is discussing a joint virtual currency for the five country bloc of developing economies, according to the Russian Direct Investment Fund (RDIF) chief Kirill Dmitriev. During the BRICS Summit in Xiamen, Dmitriev told journalists that Brazil, Russia, India, China and South Africa could develop its own alternative to other payment tools. "While there is a focus on settlements in national currencies, cryptocurrencies are as well being discussed as one of the possible settlement mechanisms," Dmitriev explained.
  • Thai Economy Expands Most Since 2013

    THAILAND, 2017/08/22 The Thai economy expanded at the fastest pace in additional than four years in the second quarter, largely driven by world request. Gross domestic product expanded 3.7 % on a yearly basis, following the 3.3 % increase in the previous quarter, the National Economic and Social Development Board said Monday. This was the fastest increase since the initial quarter of 2013, at the same time as GDP climbed 5.2 %. Quarter-on-quarter, economic increase held steady at 1.3 % in the second quarter. On the spending side, private final consumption spending grew 3.0 %, compared to 3.2 % in the initial quarter.