Gold prices have more room to rise and could go as high as $2,600 per ounce. Investors have been turning to gold and Treasurys after the collapse of Silicon Valley Bank and Credit Suisse’s struggles. Gold’s all-time high was $2,075 in August 2020, according to Refinitiv data. Investors have been flocking to gold and Treasurys ...

2 Hours Ago Healthcare and consumer cyclicals lead Hang Seng higher The Hang Seng index led gains in the Asia-Pacific region on Wednesday, powered by health-care and consumer cyclical stocks. Shares of Geely saw the biggest moves, up 7.16% after the automaker posted a 45.6% year on year gain in revenue for the whole of ...

4 Mins Ago There is adequate liquidity in India’s banking system, Kotak Mahindra Bank says There is “adequate” liquidity in India’s banking system and the Reserve Bank of India will continue to watch the sector closely, said Shanti Ekambaram, whole time director of Kotak Mahindra Bank. Her comments come after the recent collapse of regional ...

16 Mins Ago Credit Suisse says it will borrow up to about $54 billion from Swiss central bank Credit Suisse announced it will be borrowing up to 50 billion Swiss francs ($53.69 billion) from the Swiss National Bank under a covered loan facility and a short-term liquidity facility. The steps will “support Credit Suisse’s core ...

17 Mins Ago Oil prices rise following OPEC sees improved Chinese oil demand Oil prices rose more than a dollar after OPEC lifted its forecast for China’s oil demand growth in 2023. “China’s reopening, following the lifting of the strict zero-Covid policy, will add considerable momentum to global economic growth,” stated the oil report. Brent crude ...

55 Mins Ago Bank of Japan leaves policy unchanged in line with expectations Bank of Japan left its monetary policy unchanged, widely in line with expectations. The central bank kept its negative interest rate at -0.1% and reiterated its target to keep the yield on the 10-year Japanese Government Bond around 0%. “Japan’s economy, despite ...

Reserve Bank of Australia’s governor Philip Lowe said in a speech on Wednesday that the economy is nearing a point seen as fitting to hit the brakes on its hiking cycle. Lowe’s comments come after the central bank hiked its benchmark overnight cash rate by another 25 basis points to 3.60%, marking the highest that ...

Australia’s Prime Minister Anthony Albanese during the AFR Business Summit in Sydney on March 7, 2023. Brent Lewin | Bloomberg | Getty Images Australian Prime Minister Anthony Albanese said on Tuesday his government wants to diversify trade and foreign investment partners, as he prepares to lead a business delegation to India which he said shares ...

19 Mins Ago Japan factory activity slowed at the fastest pace in 2.5 years Japan’s factory activity slowed at the fastest pace in two and a half years in February, private surveys by au Jibun Bank showed. The manufacturing purchasing managers’ index fell to 47.7, down from 48.9 in January. This also marked the fourth ...

12 Mins Ago Japan retail sales jump 6.3% in January, beating expectations Japan’s retail sales surged 6.3% for January compared to the same period last year, beating economists expectations of 4%. Government data showed commercial sales in January 2023 totaled 45.7 trillion yen ($335 billion), a 3.2% increase over the same month last year. Wholesale ...