South Korean prosecutors are seeking a 50 million won ($45,000) fine for Samsung Electronics vice chairman Jay Y. Lee over an allegation of unlawful use of a prescription sedative, a source with knowledge of the matter said on Friday.
Japanese shares ended higher on Friday, as investors swooped on stocks related to the sell-off prompted by MSCI's reshuffle in the previous session, while a steady vaccine rollout whetted risk appetite on hopes of a swift economic recovery.
By Reuters Staff
2 Min Read
TOKYO, May 28 (Reuters) - Japanese shares ended higher on Friday, as investors swooped on stocks related to the sell-off prompted by MSCI’s reshuffle in the previous session, while a steady vaccine rollout whetted risk appetite on hopes of a swift economic recovery.
The Nikkei share average rose 2.10% to 29,149.41, closing above the 29,000 level for the first time since May 10, while the broader Topix gained 1.91% to 1,947.44.
The Nikkei posted a weekly gain of 2.94%, while the Topix closed the week 2.24% higher.
“The rise is too much today and the gains are not reflecting the fundamental strength of the Japanese markets,” Shuji Hosoi, senior strategist at Daiwa Securities, said.
By Reuters Staff
2 Min Read
TOKYO, May 25 (Reuters) - Japanese shares rose on Tuesday, as a strong finish on the Nasdaq overnight boosted heavyweight local technology stocks, although gains were capped by continued worries of a sluggish economic recovery because of slow vaccine rollouts in the country.
The Nikkei share average rose 0.58% to 28,528.58 by 0214 GMT, while the broader Topix edged up 0.23% to 1,917.42.
“High-priced stocks have lifted the Japanese market after a strong gain in the major U.S. indexes,” said Norihiro Fujito, chief investment strategist, Mitsubishi UFJ Morgan Stanley Securities.
“But, fundamentally, the market is weighed down on concerns on Japan’s slow response to the pandemic, which has caused a big gap between the economic sentiment in Japan against the U.S. and Europe. The pace of Japan’s vaccine rollouts is still incomparable with these countries.”
By Reuters Staff
4 Min Read
BEIJING, May 25 (Reuters) - China’s market regulator has begun an investigation into suspected anti-competitive practices by KE Holdings, the country’s biggest housing broker whose top backer is Tencent Holdings, two people who know of the matter said.
The investigation is the latest into China’s big so-called “platform” companies that match sellers and buyers, several of which have been accused by regulators of exploiting consumers.
KE Holdings, which operates housing platforms Lianjia and Beike in China, was warned last month by the State Administration for Market Regulation (SAMR), along with dozens of internet companies, against any abuse of market dominance and told to conduct self-inspections.