Chinas service sector continued to expand but the pace of expansion eased since July on softening incoming new business, a monthly survey compiled by S&P Global showed on Wednesday. The headline Caixin services Purchasing Managers Index posted 51.6 in August, down from 52.1 in July and economists forecast of 51.9. The index has remained above...
The Antipodean currencies such as the Australia and the New Zealand dollars weakened against their major currencies in the Asian session on Wednesday, as Asian stock markets traded lower, following the sell-off on the Wall Street overnight, as markets in Australia, Japan, South Korea, Hong Kong, Singapore and Taiwan all tumbled. Weak commodity prices, concerns...
The U.S. trade deficit increased to its largest in over two years in the month of July, according to a report released by the Commerce Department on Wednesday. The Commerce Department said the trade deficit widened to $78.8 billion in July from a revised $73.0 billion in June. Economists had expected the trade deficit to...
For the third straight meeting, the Bank of Canada on Wednesday announced that is decided to lower interest rates by another quarter point. The Bank of Canada announced its widely expected decision to reduce its target for the overnight rate by 25 basis points to 4.25 percent, with the Bank Rate at 4.50 percent and...
A report released by the Labor Department showed a modest decrease by job openings in the U.S. in the month of July. The Labor Department said job openings edged to 7.67 million in July from a downwardly revised 7.91 million in June. Economists had expected jobless claims to dip to 8.10 million from the 8.18...
After reporting a steep drop by new orders for U.S. manufactured goods in the previous month, the Commerce Department released a report on Wednesday showing factory orders rebounded by slightly more than expected in the month of July. The Commerce Department said factory orders spiked by 5.0 percent in July after plunging by 3.3 percent...
Canadian stocks are up in positive territory Wednesday morning with investors reacting to the Bank of Canadas decision to reduce interest rates by 0.25 basis points for the third straight month. Healthcare, real estate and communications shares are among the prominent gainers. Several stocks from utilities and consumer discretionary sectors are also notably higher. Energy...
European stocks closed lower on Wednesday on weak global cues amid concerns about the outlook for growth after data showed continued contraction in U.S. factory activity, and cooling labor market. A downward revision in Eurozone composite PMI weighed as well. Investors fretted about weakening Chinese growth as well. Economic activity in the U.S. manufacturing sector...
The Switzerland market ended sharply lower on Wednesday, tracking weakness in global markets amid rising concerns about economic slowdown in the U.S. and China. The benchmark SMI ended down 172.02 points or 1.39% at 12,176.17. The index touched a low of 12,133.05 in the session. Richemont dropped 5.8%. Logitech International and Swatch Group lost 4.17%...
The Indonesia stock market bounced higher again on Wednesday, one day after ending the two-day winning streak in which it had advanced almost 70 points or 0.9 percent. The Jakarta Composite Index now sits just above the 7,670-point plateau although it may head south again on Thursday. The global forecast for the Asian markets suggests...