Business Recorder

Yuan eases from 3-year peak as factory activity stalls

HONG KONG: China’s yuan paused its rally on Monday after climbing to a three-year peak against the dollar, as the latest official survey on factories showed activity stalled in May. The yuan was 0.03% lower at 6.7682 to the greenback, having gaine…

#MarketClosure

Business Recorder

US says it struck Iranian military sites, Tehran responds with air base attack

DUBAI: The US said it struck Iranian military sites at the weekend and Iran’s Revolutionary Guards said on Monday it had targeted a US base in response, the latest in a series of exchanges amid negotiations to end the three-month-old war. The stri…

#Tehran #IRGC #Drones

Business Recorder

South Korean shares hit record high on export surge, Nvidia optimism

SEOUL: Round-up of South Korean financial markets: South Korean shares rose sharply on Monday to record highs, driven by chip-led surge in exports and optimism over potential AI cooperation with Nvidia. The benchmark KOSPI climbed 389.34 points, o…

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Business Recorder

Bangladesh raises fuel prices again as global costs bite

DHAKA: Bangladesh has raised retail fuel prices for the second time in six weeks, increasing petrol and kerosene prices by 5 taka per litre in a move that could add to inflationary pressures in the import-dependent economy. The new rates, effectiv…

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Business Recorder

Australian dollar wait for Gulf deal, kiwi slips after big weekly gains

SYDNEY: The Australian dollar waited in the wings for a peace deal in the Gulf on Monday, tracking mostly sideways, while the kiwi slipped after a big week of gains as markets wagered on imminent rate hikes. The Aussie was steady at $0.7186, after…

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Business Recorder

China stocks dip to six-week low as techs drag, factory activity stalls

HONG KONG: China stocks weakened to the lowest in six weeks on Monday, dragged by tech sectors, after lukewarm factory data added to concerns about slowing growth momentum. The Shanghai Composite index lost as much as 0.6% to the lowest since Apri…

#China

Business Recorder

Japan’s Nikkei tops 67,000 for first time on AI boost; SoftBank becomes Japan’s most valuable firm

TOKYO: Japan’s Nikkei share average topped 67,000 for the first time on Monday, powered by AI-related shares, as startup investor SoftBank Group overtook Toyota Motor to become the country’s most valuable company. The Nikkei climbed 1.1% to enter …

#Japan

Business Recorder

Japanese bond yields rise with Middle East peace deal elusive

TOKYO: Japanese government bond yields rose off multi-week lows on Monday, as hopes for a peace deal in the Middle East faded with the US and Iran still divided over significant issues. Yields on 10-year JGB rose 3.5 basis points to 2.69%, after f…

#Japan #IranNegotiation

Business Recorder

London copper ticks higher as Iran uncertainties, China data limit gains

London copper ticked higher on Monday, supported by concerns over tightening supply and Goldman Sachs’ higher price forecast, though gains were capped by uncertainties over an Iran peace deal and slower factory activity in top consumer China. The …

#OilPrices #Tehran

Business Recorder

Philippine central bank weighs stronger response to combat inflation

MANILA: The Philippine central bank said on Monday it may consider a stronger monetary policy response if elevated inflation expectations become entrenched, vowing it “will take all necessary action” to ensure that inflation returns to its 3% targ…

#Economy