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Asia Pacific Business News
Indian shares rise, helped by funds injected into banking
AP - Saturday, May 17MUMBAI, India - The Bombay Stock Exchange's 30-stock Sensitive Index, or Sensex, rose 81.40 points, or 0.5 percent to close at 17,434.94. On the rival National Stock Exchange, the 50-stock S&P CNX Nifty gained 42.45 points, or 0.8 percent, to end at 5157.70. The markets came slightly off early highs after India's inflation rate rose to 7.83 percent on year in the week ending May 3, staying above the central bank's comfort level of 5.5 percent for the 11th straight week. Participants expect the Sensex to keep tracking global markets during the next week, but trade above the 17,000 level. "The markets were positive right through the day, even discounting higher inflation. More »
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Pakistani shares close weaker after S&P downgrade
Reuters - Saturday, May 17KARACHI, May 16 - Pakistani shares ended nearly two percent lower on Friday following a cut in the sovereign credit rating by Standard & Poor's the previous day, dealers said. More »
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South Korea joins race for Turkmen gas
Reuters - Saturday, May 17ASHGABAT, May 16 - South Korea, dependant on energy imports, told Turkmenistan on Friday it wanted to step up cooperation with Asia's top gas producer in developing its fields and building new pipelines. More »
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Graphic Taiwan media stoke quake sympathy for China
Reuters - Saturday, May 17TAIPEI, May 16 - Taiwan, normally hostile to China, is experiencing a rare moment of sympathy for its earthquake-hit neighbour, fed by an unrelenting stream of shocking photos and footage of quake victims in local media. More »
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Sumitomo Mitsui fiscal year profit grows 4.6 percent on improved lending business
AP - Saturday, May 17TOKYO - Sumitomo Mitsui Financial Group Inc. said Friday its profit rose 4.6 percent in the fiscal year through March, buoyed by improved lending, government bond sales and consolidation of a leasing unit. More »
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China tallies losses, costs from quake as authorities strive to minimize disruptions
AP - Saturday, May 17SHANGHAI, China - Cracked dams and buckled roads, collapsed buildings and toppled factories _ China has begun tallying losses from the calamitous earthquake that struck earlier this week, with estimates ranging to over US$20 billion. More »
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Pakistani rupee rallies, but negative factors build
Reuters - Saturday, May 17On Tuesday Gilani refused to accept the resignations until his party leader, Asif Ali Zardari, had a chance to make a final effort to settle differences with Sharif over how and when to reinstate judges who were dismissed under emergency rule by President Pervez Musharraf last November. (Reporting by Sahar Ahmed; Editing by Simon Cameron-Moore and Alan Raybould) - KARACHI, May 16 - The Pakistan rupee firmed on Friday as dealers said there was increased supply of U.S. dollars, but trading remained thin. More »
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Chinese stocks edge lower as quake-zone utilities fall on profit-taking
AP - Saturday, May 17SHANGHAI, China - Chinese stocks fell Friday as investors sold electric utilities and steel companies following recent gains. More »
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SKorea, New Zealand to seek free trade pact
AP - Saturday, May 17SEOUL, South Korea - Leaders of South Korea and New Zealand have agreed to seek a free trade agreement. More »
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Japan stocks edge lower, ending winning streak
AP - Saturday, May 17TOKYO - Tokyo stocks edged lower Friday after a four-day winning streak as investors sold recent gainers such as precision equipment and electronics makers. More »
- Japan uses copyright conviction to crack down on student who allegedly spread computer virusAP -Saturday, May 17
- Taiwan dollar up sharply on funds, exportersReuters -Saturday, May 17
- Japan stocks edge lower after 4-day winning streak; Nikkei drops 0.2 percentAP -Saturday, May 17
- CORRECTED - CORRECTED-S.Korea bonds lose early gains on foreign salesReuters -Friday, May 16
- Dollar falls versus yen following strong GDP data from JapanAP -Friday, May 16
- S.Korea April import price growth near 10-yr highReuters -Friday, May 16
- Oil rises in Asia after overnight options expiry plays havoc with pricesAP -Friday, May 16
- NZ dollar hangs on to gains, debt softerReuters -Friday, May 16
- US urges SKorea quickly to open beef marketAFP -Friday, May 16
- Shareholder activist David Webb quits Hong Kong stock exchange boardAP -Friday, May 16
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