The U.S. and China have restarted their trade talks, but signs are showing a deal could be even harder to reach now.Marketsread more
The speech comes as market participants are strongly anticipating a rate cut at the July 30-31 Federal Open Market Committee policy meeting.The Fedread more
Dimon is making his own bet on a digital coin that could transform the global payments landscape: JPM Coin.Financeread more
Stone, 66, a notorious Republican political operative who has described himself as a "dirty trickster," had previously been dressed down by the judge for his public remarks...Politicsread more
The Dow slipped from a record high set earlier in the day after President Trump cast doubt on the trade progress between China and the U.S.US Marketsread more
Facebook's David Marcus said at a Senate hearing Tuesday that U.S. sanctions could be at risk without financial services innovation.Technologyread more
Goldman Sachs' transition from the bank of choice for millionaires to a more inclusive, consumer friendly shop isn't cheap.Financeread more
"Look, this is a court that's ruled it's constitutional twice," Biden said. "We'll see. I'm not going to go down that route and speculate what's going to happen in a negative...2020 Electionsread more
KeyCorp says in a filing the fraud involves a "business customer" and was discovered "on or about" July 9.Banksread more
These are the stocks posting the largest moves midday.Market Insiderread more
The Trump administration "will take a look" after billionaire investor Peter Thiel said the FBI and CIA should see if Chinese intelligence has infiltrated Google.Technologyread more
Asian shares closed mostly lower in Wednesday trade, shrugging off the positive tone on Wall Street, as the dollar held firm in the wake of Turkey's currency crisis.
Greater China markets slid, with the Shanghai Composite falling 2.06 percent to close at 2,723.64, notching a third straight session of declines. The blue-chip CSI 300 index lost 2.38 percent for the day, with health care and consumer stocks among the worst-performing sectors.
Those declines came a day after the release of expectation-missing fixed asset investment and industrial output data on Tuesday.
Hong Kong's Hang Seng Index traded down 1.6 percent by 3:00 p.m. HK/SIN, with losses in tech and materials weighing on the index. Amid the broad declines, tech giant Tencent sank 3.16 percent by 3:02 p.m. HK/SIN, extending losses after Tuesday's news that it had pulled a video game from one of its platforms.
In Japan, the declined 0.68 percent, or 151.86 points, to close at 22,204.22 following the last session's near 500-point bounce. Most sectors finished the day lower, with the oil and coal products sector among the worst-performing, while financials and technology also recorded declines. Among heavyweights, SoftBank Group dropped 2.63 percent and Fast Retailing slipped 0.45 percent for the day,
Australian stocks firmed through the session, with the S&P/ASX 200 reversing early declines to end higher by 0.47 percent at 6,329. The heavily weighted financials sector, however, came under pressure, weighed down by Commonwealth Bank of Australia's 2.47 percent fall amid an ongoing financial sector inquiry in the country.
MSCI's index of shares in Asia Pacific excluding Japan was down 0.91 percent in Asia afternoon trade.
Markets in South Korea and India were closed on Wednesday.
The Turkish lira firmed during Wednesday Asia trade after firming some 8 percent in the last session. The currency traded at 6.2080 to the dollar at 3:00 p.m. HK/SIN, compared to the record low of 7.24 set earlier this week.
The lira's recent steep fall was triggered last week by increased U.S.-Turkey tensions over the detention of an American pastor in Turkey, but weakness in the currency also came against the backdrop of economic issues faced by the country.
Overnight moves in the currency came as Turkey's Finance Minister Berat Albayrak said Tuesday that the country would protect the lira, adding that he thought the currency would firm, Reuters said.
The "rebound in the lira [overnight] gave European banks and other emerging markets some respite. However, it is fair to say that the saga is not over," David Plank, head of Australian economics at ANZ, said in a note.
"The root cause of Turkey's problems — a very large external deficit denominated in foreign currency – remains unaddressed by authorities ... Investors will remain wary of possible contagion to the European banking system and will be keeping an eye on other countries with high levels of foreign-currency debt," he added.
Amid the negative sentiment in Asia, the dollar index, which tracks the greenback against six other currencies, held onto overnight gains to last trade at 96.761. The index earlier touched 96.874 — its highest level since June 2017. Against the yen, the dollar extended gains to trade at 111.21 at 2:58 p.m. HK/SIN.
Turkish President Recep Erdogan refused to back down on Tuesday, calling for Turkey to "produce enough for ourselves" in a speech in which he urged his people to boycott U.S. electronics. "If they have iPhone, there is Samsung on the other side. And we have our own telephone brands," he said.
Stocks stateside rose on Tuesday amid the general improvement in sentiment: The Dow Jones Industrial Average rose 0.45 percent, or 112.22 points, to close at 25,299.92 and the S&P 500 added 0.64 percent to end at 2,839.96, with both indexes gaining after four straight sessions of declines.
In individual movers, Hong Kong-listed shares of Wynn Macau lost 4.29 percent by 2:45 p.m. HK/SIN after Jefferies on Tuesday downgraded Wynn Resorts to hold, from buy. Other casino stocks in Hong Kong also fell, with Melco International Development falling 3.24 percent before the market close.
Meanwhile, Australian biotechnology company CSL bounced 6.39 percent after reporting full-year net profit rose 29 percent to $1.73 billion for the 12 months ending June 30. The company expected net profit for the 2019 financial year to grow between 10 percent and 14 percent compared to 2018.