asia stocks currencies up
Last Updated : GMT 03:09:26
Arab Today, arab today
Arab Today, arab today

As China fuels reform hope

Asia stocks, currencies up

Arab Today, arab today

Arab Today, arab today Asia stocks, currencies up

China's economic planners say they will combat local government debt
Hong Kong - Arab Today

Hopes that China will implement fresh economic reforms lifted emerging-market currencies Tuesday and oil and metals prices saw a rare uptick, while most Asian stock markets extended the previous day's gains.

After a secretive policy meeting that ended Monday, China's economic planners said they would combat local government debt and push on with changes in the housing sector to try to shore up growth.

They also said they would "strengthen structural reforms" and monetary policy should be more flexible, state news agency Xinhua reported.

The announcement is the latest from Beijing after it promised last year to let the market play a bigger role in the world's number two economy and implement reforms of bloated state-owned enterprises.

It also follows other moves to kickstart slowing growth, including six interest rate cuts since November last year.
"We've had easing on multiple fronts in China and we are starting to see the green shoots of recovery there," Nader Naeimi, Sydney-based head of dynamic markets at AMP Capital Investors, told Bloomberg News.

"We should see China's economy turn the corner in 2016 and the US dollar peaking, which will have a powerful positive impact on commodities and related sectors."

Currencies of countries that rely on trade with China climbed against the dollar. The Australian dollar rose 0.5 percent, Indonesia's rupiah surged one percent, the Thai baht was 0.1 percent higher and the Singapore dollar added 0.2 percent. The South Korean won, Canadian dollar and Taiwan dollar also advanced.

- Toshiba hits Tokyo -

The US dollar bought 121.22 yen compared with 123 yen last week. The euro continues to hold its own despite uncertainty in Spain after a general election left no party with a clear majority.

The possibility of Chinese stimulus measures also lifted commodities, with copper rising 1.1 percent and iron ore surging more than three percent.
Oil, which has slumped more than 60 percent since summer 2014, edged up after Brent hit an 11-year low Monday. Brent gained 0.7 percent Tuesday and US benchmark West Texas Intermediate was 0.4 percent up.

However, most analysts expect prices to remain subdued by a global supply glut, tepid demand, OPEC's refusal to cut production and a strong dollar.

Regional stock markets fluctuated through the morning but mostly rebounded in the afternoon. Shanghai added 0.3 percent by the close, Hong Kong edged up 0.1 percent in the afternoon and Seoul ended 0.6 percent higher.

However, Tokyo closed down 0.2 percent, with Toshiba slumping 12.3 percent -- extending a more than nine percent loss Monday -- after it said late Monday it would book a record $4.5 billion loss in the year to March and slash thousands of jobs.

The loss and layoffs are tied to a huge restructuring announced in the wake of revelations this year that company executives systematically pressured underlings to inflate profits to hide poor results.

- Key figures around 0710 GMT -

Tokyo - Nikkei 225: DOWN 0.2 percent at 18,886.70 (close)

Shanghai - composite: UP 0.3 percent at 3,651.77 (close)

Hong Kong - Hang Seng: UP 0.1 percent at 21,816.91

Euro/dollar: DOWN to $1.0914 from $1.0915 late Monday

Dollar/yen: UP to 121.22 yen from 121.21 yen

New York - Dow: UP 0.7 percent at 17,251.62 (close)

London - FTSE 100: DOWN 0.3 percent at 6,034.84 (close)
Source: AFP

arabstoday
arabstoday

GMT 03:33 2017 Friday ,24 November

Singapore growth beats forecasts

GMT 14:21 2017 Thursday ,23 November

Many' Fed members favor near-term rate hike

GMT 12:59 2017 Thursday ,23 November

'Many' Fed members favor near-term rate

GMT 10:06 2017 Wednesday ,22 November

New Palestinian city rises

GMT 10:16 2017 Tuesday ,21 November

Amsterdam, Paris to host key EU agencies

GMT 14:28 2017 Monday ,20 November

US industry gears up to save NAFTA

GMT 02:56 2017 Saturday ,18 November

Moody's raises India rating, citing reforms

GMT 01:26 2017 Saturday ,18 November

Reports underline proliferation of weapons
Arab Today, arab today
Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

asia stocks currencies up asia stocks currencies up

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

asia stocks currencies up asia stocks currencies up

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today PNG police start removing refugees

GMT 03:00 2017 Friday ,24 November

PNG police start removing refugees
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria congress to go ahead

GMT 02:24 2017 Friday ,24 November

Syria congress to go ahead
Arab Today, arab today IS media offline for a day

GMT 02:10 2017 Friday ,24 November

IS media offline for a day
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Human form of 'mad cow' disease

GMT 00:11 2017 Friday ,24 November

Human form of 'mad cow' disease
Arab Today, arab today British woman jailed in Iran to appear

GMT 03:19 2017 Friday ,24 November

British woman jailed in Iran to appear
Arab Today, arab today 'Trash islands' off Central America indicate

GMT 20:19 2017 Friday ,24 November

'Trash islands' off Central America indicate
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mitsubishi Materials units falsified product

GMT 03:24 2017 Friday ,24 November

Mitsubishi Materials units falsified product
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Solaf happy for participating in “Hotline”

GMT 07:56 2017 Wednesday ,22 November

Solaf happy for participating in “Hotline”
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead

GMT 08:03 2017 Tuesday ,21 November

Abeer Sabry reveals reason of “The Flood” success

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 09:12 2017 Thursday ,23 November

4 in 10 cancers due to modifiable risk

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday