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Asia off to cautious start ahead of earnings, US data

Asia off to cautious start ahead of earnings, US data Senin, 12 April 2021 / 07:35 WIB Sumber: Anna Suci Perwitasari KONTAN.CO.ID - SYDNEY. Asian shares started cautiously on Monday as investors wait to see if U.S. earnings can justify sky-high valuations, while bond markets could be tested by what should be very strong readings for U.S. inflation and retail sales this week. MSCI s broadest index of Asia-Pacific shares outside Japan was off 0.05% in slow early trade. Tokyo s Nikkei edged up 0.1%, while South Korean stocks rose 0.2%. Investors were anxious to see how shares in Alibaba Group Holding Ltd fared after China slapped a record 18 billion yuan ($2.75 billion) fine on the e-commerce giant.

Singapore court approves winding up of oil trader Hin Leong-sources

Singapore court approves winding up of oil trader Hin Leong-sources Selasa, 09 Maret 2021 / 07:45 WIB Sumber: KONTAN.CO.ID -  SINGAPORE. Singapore s High Court on Monday approved an application to wind up collapsed oil trading firm Hin Leong Trading Pte Ltd, marking the end of what was once one of Asia s top oil traders, three sources familiar with the matter said. Hin Leong, owned by Singaporean tycoon Lim Oon Kuin and his children, racked up some $4 billion in debt and entered court restructuring nearly a year ago. The company had been seeking to restructure its debts after the oil price crash last year when Lim admitted in a court document to directing the firm not to disclose hundreds of millions of dollars in losses over several years.

Gold rebounds from 9-month trough on U S stimulus, lower bond yields

Gold rebounds from 9-month trough on U.S. stimulus, lower bond yields Senin, 08 Maret 2021 / 13:11 WIB Sumber: Anna Suci Perwitasari KONTAN.CO.ID - SINGAPORE. Gold rebounded on Monday from a nine-month low hit last week, as bond yields retreated and the passage of a massive U.S. stimulus package boosted bullion s appeal as a hedge against inflation.  Spot gold rose 0.4% to $1,707.81 per ounce, after hitting its lowest since June 8 at $1,686.40 on Friday. U.S. gold futures climbed 0.4% to $1,704.90. The market probably sold a bit too much last week on higher yields and yields seem to be plateauing a little bit right now, said Stephen Innes, chief global market strategist at financial services firm Axi.

China February exports post record surge from COVID-19-depressed 2020 levels

China February exports post record surge from COVID-19-depressed 2020 levels Minggu, 07 Maret 2021 / 11:50 WIB Sumber: Tendi Mahadi KONTAN.CO.ID - BEIJING. China’s February exports grew at a record annual pace from a year earlier when COVID-19 battered the world’s second-biggest economy, customs data showed on Sunday, while imports rose less sharply. Exports in dollar terms skyrocketed by 154.9% in February compared with a year earlier, while imports gained 17.3% that month, the most since October 2018. Customs data did not include data for January alone. In the January-February period, exports jumped 60.6% from a year earlier, when lockdowns to contain the pandemic paralysed the country’s economic activity. That exceeded the forecast of analysts in a Reuters poll for a 38.9% surge.

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