Australia may be weighing allowing foreign airlines to offer domestic flights, but it isn't clear the skies down under are particularly attractive.» Read More
Australian flag carrier Qantas Airways faces rolling strikes by its engineers from next Monday as a pay dispute worsens, posing more headaches for an airline struggling with high fuel prices.
Asian stocks took a beating Thursday, after Wall Street closed at a three-month low, sparking fears of a pullback in export demand with oil prices remaining high and feeding a rally in safe-haven government bond prices. Japan shed 2.2 percent while Australia gave up 1.4 percent.
Asian markets staged a late rally Wednesday with Japan and South Korea closing in the black, as oil dipped for the fourth straight session, signaling lower costs for firms following a plan by top exporter Saudi Arabia to raise crude output.
Asian markets ended mixed Tuesday with the weaker U.S. dollar pushing exporters such as Canon to a weaker finish. But financial shares moved higher, helping to offsetting losses.
Australia's central bank concluded that interest rates were high enough to cool the economy and restrain inflation, at its June policy meeting, minutes showed on Tuesday, though the board stood ready to tighten further should demand not slow as expected.
Asian markets rallied Monday after muted U.S. consumer price data and softer oil prices helped ease concerns about inflation and higher interest rates in the world's top economy. Japan closed 2.7% higher.
Asian markets came off initial losses Friday in volatile trading, with gains in technology and export-related stocks offsetting weakness in financials and shippers. Japan, Australia and South Korea all closed stronger.
Domestic demand in Australia is cooling in the face of higher interest rates but coming stimulus from a trade boom means a tight monetary policy remains essential, the country's top central banker said on Friday.
Asian stocks sank deep into the red Thursday, with markets battered down by 2% on average. Japan, Australia and South Korea all closed sharply lower.
Australian employment fell in May for the first time in 19 months, an unexpected sign of softness in one of the strongest parts of the economy which should lessen the risk of another increase in interest rates.
Australian consumer sentiment slumped to 15-year lows in June as surging petrol and living costs pressured family finances, a survey showed on Wednesday, suggesting household spending could yet fall further.
Asian markets staged a late rebound as persistent worries about inflation kept investors cautious for most of the morning session. However stocks rallied in the afternoon with Japan climbing over 1 percent.
Shanghai stocks suffered the most severe losses in widespread stock declines in Asia Tuesday, as investors returned after a long weekend to a sea of red. Ongoing credit worries and concerns about the U.S. economy continued to keep investors wary.
Asian stocks came under selling pressure Monday, after Wall Street slumped on Friday, as oil spiked $11 and renewed fears of stagflation in the world's largest economy gripped the markets
Asian markets were firmer but off their highs Friday, lifted by energy firms following a jump in oil prices. Both Japanese and Australian markets gained over 1% .
Chinese metals trader Sinosteel has increased its voting stake in Midwest to 40 percent from one third, according to a regulatory filing on Friday, as it battles for control of the Australian iron ore prospector.
Chinese metals trader Sinosteel owns one-third of takeover target Midwest and has made a legal move to stop its rival Murchison Metals, from buying any more shares in the Australian iron ore prospector.
Australia's trade deficit shrank by far more than expected to its smallest in 14 months in April fuelling speculation that surging prices for coal and iron ore exports could make deficits a thing of the past.
Shares in Japan's Fast Retailing, operator of the Uniqlo chain of casual-clothing stores, leapt 11 percent on Wednesday, boosted by strong sales in May and a newspaper report that it is likely to post a better profit than analysts expect this year.xxx
Australia's economy grew by more than expected last quarter, helped by spending on infrastructure and defence, while the consumer held up surprisingly well in the face of high interest rates and surging living costs.