Asian stocks advanced after China’s support for its equities market revived positive sentiment and as Jerome Powell said the Federal Reserve would “proceed carefully” on whether to raise interest rates again.
Base metals rose on the Shanghai Futures Exchange after China’s state-owned media said Beijing authorities are set to implement measures to bolster its stock and property markets.
Siam Cement Pcl, one of Thailand’s largest industrial conglomerates, scrapped a proposed initial public offering for its chemicals unit, citing unfavorable market conditions.
Australian retail sales rebounded surprisingly strongly in July, suggesting the nation’s heavily indebted households retain spending power even after the Reserve Bank’s 12 interest-rate increases.
China’s slump is battering its commodities sector, with profits from coal mining to metals production continuing to decline as the property crisis worsens and the economy slows.
China has made a number of pledges recently to revive the economy’s recovery and improve the business environment as concerns about the growth outlook continue to mount.
China is stepping up its efforts to revive the economy’s recovery and improve the business environment as concerns about the growth outlook continue to mount.
Super typhoon ‘Saola’ briefly weakened into a typhoon over the Philippine Sea, with the Southeast Asian nation’s weather bureau expecting it to make landfall Wednesday before heading to southern Taiwan.
Country Garden Holdings Co., teetering on the brink of default, will be the center of attention during a busy reporting week for Chinese property developers and banks as Asia’s earnings season approaches its final leg.
Chinese stocks jumped after authorities announced a slew of measures to woo back investors including a reduction of the stamp duty on stock trades and a slower pace of initial public offerings. The yuan also strengthened.
