(RTTNews) - The Taiwan stock market has finished lower in two straight sessions, sliding more than 330 points or 1 percent along the way. The Taiwan Stock Exchange now sits just above the 33,110-point plateau and it's looking at another soft start again on Monday.
(RTTNews) - The Taiwan stock market has finished lower in two straight sessions, sliding more than 330 points or 1 percent along the way. The Taiwan Stock Exchange now sits just above the 33,110-point plateau and it's looking at another soft start again on Monday.
Australian fuel prices soared to a record last week as the impact of the Iran war spread, prompting policymakers to consider cuts to some road taxes and other measures to help households and firms. The average price of a liter of diesel jumped above A$2.82 ($1.93) last week, according to data from the Australian Institute of Petroleum , while petrol was almost A$2.40, both the highest in at least ...
Australian fuel prices soared to a record last week as the impact of the Iran war spread, prompting policymakers to consider cuts to some road taxes and other measures to help households and firms. The average price of a liter of diesel jumped above A$2.82 ($1.93) last week, according to data from the Australian Institute of Petroleum , while petrol was almost A$2.40, both the highest in at least 20 years. The average price in rural regions like the Northern Territory was even higher, a blow to farmers and long-distance transport firms. Fuel supply shortages are already surfacing, with several hundred gas stations reporting shortfalls in recent days. The crunch is also affecting the agriculture and mining sectors, though Prime Minister Anthony Albanese said over the weekend that supply is secure in the near-term. Australia’s Fuel Supply Secure in Near Term, Albanese Says Are Australia’s Low Fuel Reserves Cause for Concern?: Explainer Australian Ore Miner Fenix Warns Fuel Crunch Impacting Industry The government is considering various measures including reductions in road taxes, Treasurer Jim Chalmers said Monday. Leaders of the national and state-level governments are meeting to coordinate policies to maintain supplies, and to take steps to also bring down prices if possible. “This war in the Middle East is having extreme consequences for the global economy now and Australians are paying a hefty price for that,” Chalmers told reporters in Canberra. Some states have already announced they will make public transport free to help those who can’t afford to buy fuel, while the national government said last week it will underwrite the cost of imports.
World No 2 seals Miami Open final 6-4, 6-4 Sinner won in Indian Wells earlier in March Jiri Lehecka entered his first Masters 1000 final at the Miami Open in the best serving form of his life. He had won every service game in the tournament, a feat achieved by just eight men at this level before him. The ease with which he brushed aside all nine break points against him reflected his confidence. I...
World No 2 seals Miami Open final 6-4, 6-4 Sinner won in Indian Wells earlier in March Jiri Lehecka entered his first Masters 1000 final at the Miami Open in the best serving form of his life. He had won every service game in the tournament, a feat achieved by just eight men at this level before him. The ease with which he brushed aside all nine break points against him reflected his confidence. It took two return games for Jannik Sinner to viciously drag the Czech back down to earth. Ten minutes in, Sinner had already broken Lehecka’s unbreakable serve. As has usually been the case over the past few years, Sinner burst into the lead and refused to let it go. Continue reading...
The conflict in the Middle East has triggered a global energy crisis that serves as a “yellow warning” for Hong Kong, which so far has escaped the severe impact seen elsewhere, tycoon Michael Kadoorie has said. “At this point, I think we’re very lucky. Now we touched on the story of fuel. It may impact us. It does already send a warning light,” the CLP Group chairman said. “So you have your traffi...
The conflict in the Middle East has triggered a global energy crisis that serves as a “yellow warning” for Hong Kong, which so far has escaped the severe impact seen elsewhere, tycoon Michael Kadoorie has said. “At this point, I think we’re very lucky. Now we touched on the story of fuel. It may impact us. It does already send a warning light,” the CLP Group chairman said. “So you have your traffic lights red, yellow and green. Well, we’re yellow. We’re not at red, but we have to think ahead as...
China’s art market is showing tentative signs of recovery despite economic pressures, according to UBS, which cited rising participation from the next generation of wealthy families. “We have been seeing a rebound, with more trips for auctions and purchases [in China],” said Amy Lo Choi-wan, chairman of UBS Global Wealth Management Asia and CEO of UBS Hong Kong, in an interview with the South Chin...
China’s art market is showing tentative signs of recovery despite economic pressures, according to UBS, which cited rising participation from the next generation of wealthy families. “We have been seeing a rebound, with more trips for auctions and purchases [in China],” said Amy Lo Choi-wan, chairman of UBS Global Wealth Management Asia and CEO of UBS Hong Kong, in an interview with the South China Morning Post. “So I am optimistic.” Despite a prolonged property downturn and weak consumption,...
Last week, a friend and I chatted about our children’s favourite art pieces after happening upon an auction house’s exhibition in a building in the heart of Hong Kong’s business district. We both recalled stopping to look at Yayoi Kusama’s Mount Fuji prints. “I pass by the space twice every day,” my friend said. She told me that my son’s pick – a piece by Sam Francis – was a new installation, repl...
Last week, a friend and I chatted about our children’s favourite art pieces after happening upon an auction house’s exhibition in a building in the heart of Hong Kong’s business district. We both recalled stopping to look at Yayoi Kusama’s Mount Fuji prints. “I pass by the space twice every day,” my friend said. She told me that my son’s pick – a piece by Sam Francis – was a new installation, replacing what had been a display of handbags. How often do we pause to notice art, or enjoy life in...
India has moved to curb speculative bets against the rupee, taking one of its most forceful steps in over a decade as the cost of defending the currency rises. Late Friday, the Reserve Bank of India announced new rules capping the open positions banks can hold in the onshore currency market at $100 million at the end of each trading day. The change, effective April 10, forces lenders to shrink the...
India has moved to curb speculative bets against the rupee, taking one of its most forceful steps in over a decade as the cost of defending the currency rises. Late Friday, the Reserve Bank of India announced new rules capping the open positions banks can hold in the onshore currency market at $100 million at the end of each trading day. The change, effective April 10, forces lenders to shrink their books, limiting their ability to run large one-sided bets against the rupee. The urgency reflects deep concern about the rupee, which has slid to successive record lows following the Iran war. That is pushing the RBI to shift away from relying mainly on spot and forward market interventions — tools that have already contributed to a more than $30 billion drawdown in foreign-exchange reserves in the first three weeks of March, according to people familiar with the matter, to more direct measures targeting financial institutions. “The move signals clear discomfort with rupee weakness and reflects a shift from direct intervention to controlling market positioning, offering near-term stability but limited influence on longer-term fundamentals,” said Kunal Sodhani , head of treasury at Shinhan Bank in Mumbai. Lenders are seeking to delay the deadline to comply, warning that such a rapid unwind may trigger large losses, and urging that the rule apply only to new bets, people familiar with the matter told Bloomberg News. Pressure on the rupee has mounted since the Iran war broke out a month ago. The currency has fallen more than 4% over that period to 94.82 as of Friday, and is Asia’s worst performer this year. Uncertainty over the duration of the conflict has prompted global funds to pull more than $11 billion from Indian equities, while index-eligible bonds have seen record outflows of $1.6 billion in March. Part of the challenge for policymakers is where that pressure is coming from. While the rupee trades in Mumbai, price signals are increasingly determined overseas in hubs...
matejmo/iStock via Getty Images At a glance Performance The Fund returned 2.47% and the Russell 2500™ Value Index returned 3.15%. Contributors/detractors Stock selection in the information technology and industrials sectors detracted from relative performance, while stock selection in the materials and real estate sectors contributed. Outlook We remain confident in our disciplined value investment...
matejmo/iStock via Getty Images At a glance Performance The Fund returned 2.47% and the Russell 2500™ Value Index returned 3.15%. Contributors/detractors Stock selection in the information technology and industrials sectors detracted from relative performance, while stock selection in the materials and real estate sectors contributed. Outlook We remain confident in our disciplined value investment approach even as we see potential sources of market volatility. Investment environment • Stocks rose on positive earnings news and expectations for Federal Reserve (Fed) rate cuts. The Fed followed up a September rate cut with two 25 basis-point (bp) rate cuts, in October and December, respectively. • Given the protracted government shutdown, economic data was sparse except for company commentary and private investment surveys, which pointed to a slowly improving economic environment. • While investors paid more attention to fundamentals relative to earlier in the year, we continued to see pockets of outperformance by lower-quality stocks, as non-earners continued to outperform. Portfolio review Relative performance was hindered by our position in Bath & Body Works ( BBWI ). The specialty retailer reported disappointing revenue growth and reduced guidance, reflecting both cautious spending by its consumers as well as some operational issues that need to be addressed. Despite an inexpensive valuation, we have meaningfully reduced our holdings given our concerns over poor execution by company management, and because we believe the next iteration of the company's turnaround will take considerable time. Detractors in the industrials sector included Janus International Group ( JBI ), a manufacturer of industrial doors and storage units for the self-storage providers. Demand for self-storage space has remained anemic due to sluggish home sales and slower housing turnover. Against this backdrop, Janus International reported disappointing quarterly results. We added to the positio...