Asia-Pacific News Australasia

  • *Wall Street expected to open down 1.7 percent. *Hong Kong shares lead Asia equity markets lower. Wall Street was expected to open almost 2 percent lower.

  • *Wall Street expected to open down 1.7 percent. *Hong Kong shares lead Asia equity markets lower. LONDON, Feb 11- The dollar hit a 16- month low against the yen on Thursday and headed for its worst week since the Lehman crisis as investors scrambled for relative safety, buying up gold and top-rated bonds and dumping stocks.

  • *2015 underlying earnings down 51 pct to $4.54 bln. MELBOURNE/ SYDNEY, Feb 11- Rio Tinto scrapped its generous payout policy in the face of a bleak outlook for the global economy after it slumped to a net loss for 2015 and posted its worst underlying earnings in 11 years. The macro outlook remains challenging, "Chief Executive Sam Walsh told reporters.

  • SYDNEY— Mining company Rio Tinto said Thursday it suffered a loss of $866 million in 2015 as deteriorating economic conditions around the world pressured prices of commodities such as iron ore and coal. The Australian mining giant on Thursday reported that 2015 revenue slumped to $34.8 billion from $47.6 billion the year before. Rio said it will reduce...

  • Hong Kong shares lead Asia equity markets lower. "In some ways it is reminiscent of 2008 with tightening credit markets, bank shares under pressure and worries central banks are powerless," said Shane Oliver, head of investment strategy at AMP Capital, though he suspects markets are overly pessimistic this time. The flight from risk told on most Asian shares, with...

  • *Hong Kong shares lead Asia equity markets lower. "In some ways it is reminiscent of 2008 with tightening credit markets, bank shares under pressure and worries central banks are powerless," said Shane Oliver, head of investment strategy at AMP Capital, though he suspects markets are being overly pessimistic this time. The flight from risk told on Asian shares, with...

  • *Japan on holiday, South Korea stocks resume with sharp loss. SYDNEY, Feb 11- Asian shares sputtered on Thursday as U.S. Federal Reserve Chair Janet Yellen's tone of guarded optimism led to an indecisive finish for Wall Street and further weakness for the dollar.

  • LONDON- Bank of England deputy governors, Jon Cunliffe and Andrew Bailey, to appear at Lords committee on euro zone financial system- 1130 GMT. SYDNEY- Reserve Bank of Australia Governor Glenn Stevens appears before the House of Representatives' Standing Committee on Economics in his twice yearly parliamentary testimony- 2230 GMT. WASHINGTON- Federal Reserve...

  • NEW DELHI, Feb 11- India, concerned at being sidelined from the U.S.-led Trans-Pacific Partnership, is stepping up efforts to reach agreement with an alternative trade bloc centred around China, and hopes to reach a deal this year. Prime Minister Narendra Modi has backed an export-focused' Make in India' drive as the path to prosperity for Asia's third-largest...

  • *China markets closed for Lunar New Year, to reopen Monday. LONDON, Feb 10- Copper slid to a two-week low on Wednesday, pressured by a stronger dollar as Federal Reserve Chair Janet Yellen pointed to the prospect for further gradual adjustments to monetary policy. She cited global risks such as falling stock prices and uncertainty over China, but said there was good...

  • SYDNEY— Australia's former prime minister and two other politicians were gifted designer watches by a Chinese businessman— but initially kept them only because they thought the 40,000 Australian dollar timepieces were fake, a newspaper reported Wednesday. Former Prime Minister Tony Abbott was leader of the then-opposition Liberal Party in 2013 when he...

  • LAUNCESTON, Australia, Feb 10-- When the going gets tough, the tough ask for tax relief. If you are looking for a sign that the end game of the commodity downturn is getting closer, witness the clamour for more support from Australia's embattled resources sector. "We are not looking for bailouts or subsidies but our entire sector needs certainty and support in the...

  • Global stocks turn higher ahead of Yellen testimony Wednesday, 10 Feb 2016 | 12:13 AM ET

    Stock benchmarks also fell in Southeast Asia, India and New Zealand. Markets are closed in China, Taiwan, Hong Kong and South Korea for Lunar New Year holidays. Hong Kong and Korea reopen on Thursday and China and Taiwan resume trading on Monday.

  • *H1 underlying NPAT A $375 mln vs A $336 mln expected by analysts. *H1 net loss A $449 mln vs A $308 mln net profit previous year. SYDNEY, Feb 10- A week after quitting a gas business hammered by depressed oil prices, Australia's AGL Energy fast-tracked on Wednesday a shift into another competitive market by buying a stake in U.S. solar battery maker Sunverge Energy.

  • *USDA projects record-large world wheat ending stocks. Most-active wheat futures at the Chicago Board of Trade traded as low at $4.55 a bushel, the lowest level since the summer of 2010, before closing down 1 cent at $4.57-1/ 2. Corn futures ended down 1-1/ 4 cents at $3.61 after the most-active contract touched its lowest price since Jan. 15.

  • Crop prospects are also improving in South America, which competes with the United States for export business, after weekend rains eased concerns about dryness in Argentina, the world's top exporter of soyoil and soymeal and the No. 3 soybean supplier. Traders will probably resume monitoring South American yields and demand once the USDA issues monthly crop...

  • The world will store unwanted oil for most of 2016 as declines in U.S. output take time and OPEC is unlikely to cut a deal with other producers to reduce ballooning output, the International Energy Agency said. The agency cut its forecast for 2016 oil demand growth, which now stands at 1.17 million barrels per day following a five-year high of 1.6 million in 2015,...

  • The world will store unwanted oil for most of 2016 as declines in U.S. output take time and OPEC is unlikely to cut a deal with other producers to reduce ballooning output, the International Energy Agency said. The agency cut its forecast for 2016 oil demand growth, which now stands at 1.17 million barrels per day following a five-year high of 1.6 million in 2015,...

  • *USDA supply/demand report due at 1700 GMT. PARIS/ SYDNEY, Feb 9- Chicago wheat edged higher on Tuesday, recovering from a one-month low as investors awaited monthly U.S. government grain forecasts, but Paris futures extended losses to new contract lows as export worries continued to weigh on European prices. But wheat remained under pressure from ample global...

  • The world will store unwanted oil for most of 2016 as declines in U.S. output take time and OPEC is unlikely to cut a deal with other producers to reduce ballooning output, the International Energy Agency said. The agency cut its forecast for 2016 oil demand growth, which now stands at 1.17 million barrels per day following a five-year high of 1.6 million in 2015,...