Of all the cases of economic espionage charged by the DOJ's National Security Division since 2012, more than 80% of them implicated China.World Politicsread more
"Whilst there is a big dispute at the moment, I think there's also potential for resolution," UBS chairman Axel Weber says of the U.S.-China trade negotiations.Singapore Summitread more
Cryptocurrency fans will hope the futures contracts, which are federally regulated, can provide some much-needed legitimacy to bitcoin.Cryptocurrencyread more
Despite mixed fan and critic reactions to the final season of "Game of Thrones," the eight-season epic took home the top prize in the drama category at the Emmy Awards on...Entertainmentread more
There are alternative financial centers and investors can turn to Singapore, Tokyo or Shanghai if Hong Kong doesn't "shape up," says the founder and chairman of Citic Capital.Singapore Summitread more
The Kingdom and oil and gas industry have been slow to shore up defenses, raising red flags about the possibility of longer term fall-out in the region.Technologyread more
Tensions between South Korea and Japan may ultimately disrupt the high-end tech sectors, says Heenam Choi, CEO at South Korea's sovereign wealth fund.Singapore Summitread more
On Sunday, the 71st Primetime Emmy Awards honored the best comedies, dramas, limited and variety series from the last year.Entertainmentread more
U.S. President Donald Trump's national security advisor said on Sunday that White House Asia policy adviser Matt Pottinger would become his top deputy.Politicsread more
Removing Neumann is a difficult decision for Son, who has long believed in WeWork and Neumann's vision to quickly expand the company.Technologyread more
Datadog went public on Thursday and instantly hit a $10 billion valuation, becoming the fourth cloud software debut to reach that level this year.Technologyread more
Gold prices recouped losses to rise more than 1% on Wednesday as the dollar slid after U.S. Federal Reserve Chairman Jerome Powell fanned expectations of an interest rate cut, citing risks to the U.S. economy.
Powell said concerns about trade policy and a weak global economy "continue to weigh on the U.S. economic outlook" and the Fed intended to "act as appropriate" to sustain a decade-long expansion.
Spot gold rose 1.1% to $1,413.20 per ounce. Prices had dropped to $1,389.55 earlier in the session. U.S. gold futures for August delivery rose 1.1% to $1,415.40 per ounce.
"Powell's done enough to convince traders he is not closing the door but leaving it ajar with regards to rate cuts referencing a weaker economy, referencing business growth and stagnating economic growth," said Craig Erlam, senior market analyst with OANDA.
"This is as dovish as we could have potentially hoped for and the gold market has jumped straight on that. The dollar has come off and gold in tandem has rebounded higher."
Although expectations for a 50-basis-point rate cut at a Fed meeting later this month have evaporated after forecast-beating job gains were reported last week, investors still expect a 25-basis-point cut due to weak inflation and worries about growing business fallout from the U.S.-China trade war.
Powell's comments also prompted the dollar index to decline as much as 0.3% against a basket of other currencies, after rising to a three-week high in the previous session.
"We still think there are upside risks and dips towards $1,375 and below $1,375 are an opportunity to go long in gold," said Suki Cooper, precious metals analyst at Standard Chartered Bank.
"The macro factors are still supportive (of gold) but the near term headwinds are likely to come from weaker physical markets and any temporary bouts of dollar strength or a bounce in yields."
On the trade war front, U.S. and Chinese trade officials held "constructive" talks on trade by phone on Tuesday, White House economic adviser Larry Kudlow said on Tuesday.