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Spread the love ASIA: China’s factories slowed their output growth in April and retail sales significantly missed expectations as officials warned of new problems affecting the recovery in the world’s second-largest economy. Factory output grew 9.8% in April from a year ago, in line with forecasts but slower than the 14.1% surge in March, National Bureau of Statistics data showed on Monday. Retail sales, meanwhile, rose 17.7%, much weaker than a forecast 24.9% uptick and the 34.2% surge in March. In the factory sector, motor vehicle production growth fell sharply to 6.8% from 69.8%, due i...

Central bank officials are also scheduled to make comments, including Fed Vice Chairman Richard Clarida who speaks next Monday. Stocks have been volatile. The rally on Thursday and Friday was unable to reverse the week's heavy losses. The defensive consumer staples, financials and materials were on track for a positive week among major sectors. The worst performers were consumer discretionary, off about 3.7% for the week, and tech, which was down 2.2%. Technology shares were among the best performers in Friday's rally, up about 2.1%. Energy was the best performer, up more than 3%. "Watch it w...

Advertisement The second wave of the COVID-19 pandemic which struck India between the end of February and beginning of March continues unabated. The alarming rate at which it has spiraled out of control especially in the last four weeks has left citizens helpless, and also exposed the under-preparedness of authorities to deal with this unprecedented health crisis. While daily COVID-19 cases started to rise steadily since end of February, it was in the first week of April that India surpassed the first wave peak of 97,654 daily cases (on September 16 last year). Since then, the country has wit...

Spread the love ASIA: China has “indefinitely” suspended key economic dialogue with Australia, the latest in a growing diplomatic rift between both countries. The relations between two countries have been on the decline since Australia called for a probe into the origins of the virus and banned Huawei from building its 5G network. In a statement on Thursday, a Chinese government commission accused Australia of having a “Cold War mindset”. Last year, China imposed sanctions on Australian goods like wine and beef. Growth in India’s dominant services sector eased to a three-month low i...

Share: US Federal Reserve officials poured cold water on Treasury Secretary Yellen’s comments. US macroeconomic figures may have missed expectations but indicated continued growth. EUR/USD struggling to retain the 1.2000 level, bearish once below 1.1980. The EUR/USD pair trades around the 1.2000 level, posting modest daily losses. The shared currency was the worst performer, as an upbeat market’s mood put some pressure on the greenback against other rivals. Stocks edged higher in Europe and America,  as despite missing expectations, US data kept pointing to substantial economic progres...