Logo of the London Stock Exchange. The euro rose against the dollar but was down versus sterling. Oil prices rebounded meanwhile, after slumping Friday to the lowest levels in more than one year. Bitcoin extended its slide, dropping under US$4,000 to US$3,541.02 - the lowest level for 14 months. "Italian stocks have been the outperformer in Europe ... on reports that the government may consider reducing its deficit target in a bid to avert a disciplinary procedure in Brussels and a backlash in the markets," noted Craig Erlam, senior market analyst at Oanda trading group. "The pound is also a little higher ... after (British Prime Minister) Theresa May overcame the first, and smallest, hurdle to her Brexit deal getting over the line." May convened her cabinet and updated Britain's parliament on the newly-agreed Brexit deal Monday, as she begins the tricky task of selling the plan to her sceptical country. In Rome, Italy's populist government appears open to reducing its draft budget … [Read more...] about European stock markets rally on Brexit deal, Italy budget hopes
Asian stock market news
TOKYO: Most Asian markets edged higher on Wednesday (Aug 23) after a global equities rally driven by optimism over a US tax reform plan, but President Donald Trump's comments about terminating the North American Free Trade Agreement capped gains. Markets have bounced back after struggling in recent weeks due to the continuing standoff between the US and North Korea. (Photo: AFP/Behrouz Mehri) Markets have chalked up a comeback after struggling in recent weeks due to the continuing standoff between the US and North Korea, which has been compounded by Thursday's terror attack in Barcelona. The US president's woes have fuelled speculation he will struggle to push through his market-friendly economy-boosting policies that fanned a global market rally in the months after his November election. Despite ongoing … [Read more...] about Asian stock markets tick up on US tax plan hopes
Asian stock markets mostly fell on Wednesday (May 18) after a two-day rally and strong US data that fuelled talk of an interest rate rise, while Tokyo swung back and forth following a better-than-forecast economic growth reading. HONG KONG: Asian stock markets mostly fell on Wednesday (May 18) after a two-day rally and strong US data that fuelled talk of an interest rate rise, while Tokyo swung back and forth following a better-than-forecast economic growth reading. The world's number three economy expanded 0.4 per cent in the first three months of the year, or a 1.7 per cent annualised rate, boosted by a pick-up in consumer spending. The country's benchmark Nikkei stock index spent much of the day in positive territory. But the upbeat GDP figure was offset by fears it could allow the Bank of Japan to delay any fresh stimulus. Stimulus bets "may be drying up a little", Masahiro Ichikawa, a senior strategist at Sumitomo Mitsui Asset Management Co. in Tokyo,told Bloomberg News. "If the … [Read more...] about Asian stocks chase Wall St down, Japan GDP beats forecasts
The launch of the new benchmark index on Monday feels like the start of a merger between the country's two main exchanges. The new combined VNX Allshare aims to restructure Vietnam's stock exchanges as it seeks to upgrade the country’s stocks status from “frontier" to “emerging”. With the mission of reflecting the price movements of all stocks on the market, the index is expected to prime the pump to get more offerings and trading going in Vietnam and draw mutual guidelines and regulations to match competition from other Southeast Asian bourses. By launching the index, the government intends to attract more overseas investors. In the first half of this year, foreign traders poured $722 million into Vietnamese stocks, three times higher than the same period in 2015. “The birth of the VNX Allshare is a milestone for Vietnam’s security market,” said Vu Bang, chairman of the State Securities Commission. The VNX Allshare, the country's third … [Read more...] about VNX Allshare: Is new index a boon for Vietnam’s stock market?
Vietnam is hoping that falling inflation and rising global risk appetites will spur sustained interest in the country's small stock market, a frontier where many pioneers have been burned. Cheap valuations and optimism that Vietnam is getting on top of deep economic problems have attracted share-buyers this year. The country has been one of the world's top performing equity markets so far in 2012. The benchmark index for the main bourse, the Ho Chi Minh City Stock Exchange, was up 20.5 percent through Wednesday. The big question, though, is sustained performance. the market needs to be broader and deeper to move well away from being an adventuresome roller-coaster ride. Vietnam's stocks, once a hot frontier market for investors, never fully recovered after the index plunged 66 percent in 2008, during the global financial crisis. The index rebounded 57 percent the next year, but in 2010 -- a strong year for most Asian markets -- Vietnamese shares dropped 2 percent. Then it tumbled 27 … [Read more...] about Vietnam’s volatile stock market draws money, needs depth