Asia-Pacific News Australasia

  • *Nikkei sinks 2%, leading Asia- wide sharemarket falls. Much remains unknown about the virus that originated in China, but it is clear the ramifications of the world's second biggest economy in lockdown for a month or more are vast. Analysts have sharply downgraded their China and global growth forecasts, while policymakers from Asia, Europe and the United States...

  • China accounts for about 96% of cases and has instituted dire containment methods that have paralysed global supply chains. But most new infections are now being reported elsewhere, with news on Thursday of a jump in cases in South Korea accompanied by a warning that the virus may be spreading in California.. China reported 433 new infections.

  • WELLINGTON, Feb 27- The coronavirus outbreak could have a serious impact on New Zealand's economy in the short term, the country's finance minister said on Thursday, amid new data that showed businesses were feeling more pessimistic about their prospects. "It is clear that there is an immediate impact on the tourism industry, particularly given there are now...

  • SINGAPORE, Feb 27- Oil and Asian share markets slipped on Thursday, struggling to find a footing as the rapid global spread of the coronavirus left investors on edge and seeking safety in gold and bonds. Most new virus cases are now being reported outside China- the origin of the outbreak- with South Korea, Italy and Iran emerging as new epicentres.

  • Feb 26- L Brands Inc forecast a loss for the first quarter, days after it decided to sell a controlling stake in its struggling Victoria's Secret brand, and said on Wednesday that it took a $725 million impairment charge related to the struggling lingerie unit in the fourth quarter. To cut its losses, L Brands earlier this month said it would sell a 55% stake in...

  • PARIS/ LONDON Feb 26- Airlines rattled by the coronavirus rushed to cut costs on Wednesday, as warnings of a pandemic deepened concern about the scale of the impact on aviation and other front-line sectors. Austerity measures ordered by Germany's Lufthansa and Amsterdam- based KLM include unpaid staff leave and hiring freezes, while Virgin Australia dropped...

  • *Underlying FY earnings climb 18% to $10.37 billion. MELBOURNE/ BENGALURU, Feb 26- Rio Tinto warned on Wednesday that the coronavirus outbreak may create challenging conditions over the next six months, with more disruptions to global supply chains and potential delays to projects in Australia. However, 2020 looks uncertain with economic activity stalling in...

  • *Underlying FY earnings climb 18% to $10.37 billion. MELBOURNE/ BENGALURU, Feb 26- Rio Tinto warned on Wednesday that the coronavirus outbreak may create challenging conditions in the next six months, building on disruptions to global supply chains and potential delays to projects in Australia. However, 2020 looks uncertain with economic activity stalling in...

  • *To take A $50- A $75 mln hit from coronavirus impact in second half. SYDNEY, Feb 26- Virgin Australia said on Wednesday that it would reduce capacity, leading to the removal of seven planes from its fleet and possible pilot redundancies, and cautioned its bottom line would take a hit as the coronavirus outbreak erodes demand. On a bottom-line basis, Virgin Australia...

  • *To take A $50- A $75 mln hit from coronavirus impact in second half. SYDNEY, Feb 26- Virgin Australia said on Wednesday that it would reduce capacity, leading to the removal of seven planes from its fleet and possible pilot redundancies, and cautioned its bottom line would take a hit as the coronavirus outbreak erodes demand. On a bottom-line basis, Virgin Australia...

  • TOKYO, Feb 26- Asian shares fell on Wednesday as a U.S. warning to Americans to prepare for the possibility of a coronavirus pandemic drove another Wall Street tumble and pushed yields on safe-haven Treasuries to record lows. That led MSCI's broadest index of Asia-Pacific shares outside Japan down 0.6%. Oil prices recovered some recent losses in Asia, but there...

  • *Planes to be delivered in business year starting April 2022. SEATTLE/ TOKYO, Feb 25- Japan's ANA Holdings Inc will buy 15 Boeing Co 787 Dreamliners worth $5 billion at list prices, it said, the first commercial order announcement for the U.S. planemaker this year as it wrestles with the grounding of the smaller 737 MAX. The deal, which sees Japan's biggest carrier...

  • Feb 25- Australia's Healius Ltd on Tuesday said private equity firm Partners Group had offered to acquire the medical centre operator for A $2.12 billion. A filing earlier in the day showed Partners bought out China's Jangho Group Co Ltd's 15.9% majority stake in Healius. Jangho had previously offered to buyout Healius for A $1.7 billion or A $3.25 per share,...

  • *Planes to be delivered in business year starting April 2022. SEATTLE/ TOKYO, Feb 25- ANA Holdings Inc said it will buy 15 more Boeing Co 787 Dreamliners worth $5 billion at list prices, the first commercial order announcement for the U.S. planemaker this year as it wrestles with the grounding of the smaller 737 MAX. The first delivery will be in the business year...

  • SINGAPORE, Feb 25- Singapore Airlines Ltd has cut nearly 10% of its capacity, frozen recruitment for ground positions and deferred spending as it deals with lower demand due to the coronavirus outbreak, according to an internal memo seen by Reuters. "We will continue to be nimble and flexible in adjusting our capacity to match the changing demand patterns in the...

  • *Virus spread beyond China drives Fed rate repricing. That helped to stay a steep slide in Asian currencies that has accompanied the virus' recent rapid spread beyond China and allowed the pound and euro to drift slightly higher. "Overnight there was a bit of panic over the risk of the virus going global," said Bank of Singapore analyst Moh Siong Sim.

  • SYDNEY, Feb 25- Asian share markets found some stability on Tuesday after a wave of early selling petered out and Wall Street futures managed a solid bounce, allowing investors to take a breather from coronavirus fears. Some dealers cited a Wall Street Journal report on a possible vaccine as helping sentiment, though human tests of the drug are not due until the...

  • SYDNEY, Feb 25- Asian share markets were trying to stabilize on Tuesday after a wave of early selling petered out and Wall Street futures managed a solid bounce, allowing investors to take a break from coronavirus fears. Some dealers cited a Wall Street Journal report on a possible vaccine as helping sentiment, though human tests of the drug might not start until...

  • SYDNEY, Feb 25- Asian share markets were trying to stabilise on Tuesday after a wave of early selling petered out and Wall Street futures managed a solid bounce, allowing investors to take a break from coronavirus fears. Some dealers cited a Wall Street Journal report on a possible vaccine as helping sentiment, though human tests of the drug might not start until...

  • *Virus spread beyond China drives Fed rate repricing. World markets are in a tailspin as infections spread quickly beyond China. Supply chains around the world are jammed as China locks down to combat the virus and stocks have tumbled, bonds have jumped and expectations of rate hikes in the United States have vanished.