26 Nov 2019
Canadian convenience store operator Alimentation Couche-Tard Inc sweetened an approach for Caltex Australia with a A$8.61 billion ($5.8 billion) offer, a day after Caltex said it could carve out some of its convenience shop sites.
25 Nov 2019
Australian Home Affairs Minister Peter Dutton said Westpac Banking Corp must pay the price for giving "a free pass to pedophiles" as the corporate watchdog began investigating the lender over millions of breaches of money laundering laws.
19 Nov 2019
New Zealand's a2 Milk Company raised its operating profit margin forecast on Tuesday on the back of higher marketing spending, sending its shares to a two-month high.
15 Nov 2019
Australia cleared a dairy producer part-owned by the Chinese government to buy local infant formula maker Bellamy's Australia Ltd for A$1.43 billion (£766.08 million), but imposed several conditions amid a potential backlash.
07 Nov 2019
Amazon Inc's Australia unit has signed up Zip Co Ltd to offer its buy now, pay later (BNPL) service on the U.S. giant's local retail website, sending shares in Zip soaring by more than 20%.
31 Oct 2019
Oct 31 A profit miss from Australia's
fourth-largest lender pulled its peers and the country's
benchmark index lower on Thursday, despite gains in markets
across the rest of Asia after the U.S. Federal Reserve cut
interest rates.
30 Oct 2019
* Domestic data shows slowing consumer price inflation
(Updates to close)
29 Oct 2019
Oct 29 Australian shares closed higher on
Tuesday, extending its winning streak to seven sessions as
investors banked on Beijing and Washington finalising a
first-stage trade deal next month.
25 Oct 2019
* South Korea's won set for 4th week of gains
* Rupiah likely to post weekly gain on cabinet boost
* Singapore industrial production beats expectations
(Adds text, updates prices)
By Nikhil Nainan
Oct 25 Most Asian currencies managed minor gains
against the dollar on Friday, but investors refrained from big
bets while awaiting developments in the Brexit drama and
Sino-U.S. trade talks as well as next week's Federal Reserve
meeting.
Economic data from many nations in all corners of the world
have signalled slowing global growth, and the Federal Reserve is
expected to cut rates again next week.
Sentiment towards most Asian currencies has improved in the
past two weeks, a Reuters poll showed, with many regional
currencies set to post weekly gains against the dollar. But much
of the improvement is rooted in belief there will be at least a
partial resolution of the Sino-U.S. trade war.
The yuan was little changed on Friday, but on
track for a third week of gains.
The Korean won was weaker on Friday but is set to
strengthen 0.6% against the dollar over the week - running its
streak of winning weeks to four.
Data on Thursday showed growth slowed more than expected in
the third quarter, though exports - the most important driver -
showed some signs of recovery.
Singapore industrial production in September beat
expectations, rising for the first time in five months. The
local dollar was flat.
The rupiah eked out gains against the dollar, a day
after Indonesia's central bank cut its benchmark rate
by 25 basis points. It was the fourth straight cut
since July.
The currency has strengthened 0.7% this week, more than
erasing losses from last week, as investors hope Indonesia's new
cabinet will be able to push ahead major reforms.
Some analysts see only one more cut in the near term , with
HSBC saying Bank Indonesia should maintain a prudent monetary
policy given the "fickle nature of portfolio flows."
BofA Merrill Lynch, in a note, said "monetary policy
transmission remains a problem, despite the central bank
continuing to describe the pass-through as 'effective'."
The Thai baht strengthened 0.2%, the most in the
region.
CURRENCIES VS U.S. DOLLAR
Change on the day at 0509 GMT
Currency Latest bid Previous day Pct Move
Japan yen 108.640 108.61 -0.03
Sing dlr 1.364 1.3633 +0.00
Taiwan dlr 30.573 30.586 +0.04
Korean won 1174.600 1172.9 -0.14
Baht 30.210 30.27 +0.20
Peso 51.280 51.29 +0.02
Rupiah 14045.000 14054 +0.06
Rupee 70.990 71.01 +0.03
Ringgit 4.186 4.183 -0.07
Yuan 7.072 7.0695 -0.04
Change so far in 2019
Currency Latest bid End 2018 Pct Move
Japan yen 108.640 109.56 +0.85
Sing dlr 1.364 1.3627 -0.06
Taiwan dlr 30.573 30.733 +0.52
Korean won 1174.600 1115.70 -5.01
Baht 30.210 32.55 +7.75
Peso 51.280 52.47 +2.32
Rupiah 14045.000 14375 +2.35
Rupee 70.990 69.77 -1.72
Ringgit 4.186 4.1300 -1.34
Yuan 7.072 6.8730 -2.82
(Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by
Richard Borsuk)
24 Oct 2019
* South Korea Q3 GDP slips, exports show some signs of
recovery
* Indonesia's c.bank likely to cut rates by 25 basis points
* Worst may be over for Asia export slowdown - BofA Merrill
Lynch
(Adds text, updates prices)
By Nikhil Nainan
Oct 24 Most Asian currencies edged up on
Thursday ahead of central bank policy meetings and in the
absence of new signals or developments in the Sino-U.S. trade
war and the Brexit saga.
Indonesia's central bank is widely expected to cut its
benchmark rate for a fourth time since July as it seeks to spur
growth for an economy likely to slow in 2019.
The rupiah was flat ahead of the decision. The
currency has benefited this week from Indonesia's new cabinet
that many hope would push through major reforms to boost
investment and growth.
OCBC, in a note, said Bank Indonesia may supplement the rate
cut with soft rhetoric, and, if so, would "serve as reminders
that the Asian macro outlook remains weighed down, even if it
may not be dislocating lower."
The U.S.-China trade war and political uncertainty elsewhere
has dented global economic growth, and has seen central banks
adopt more policy-easing measures.
Trade-reliant economies in Asia have been especially
impacted. Economic growth in South Korea slowed more than
expected in the third quarter, though exports - the most
important driver - showed some signs of recovery.
The won was among the best performing currencies
on Thursday, advancing 0.1%.
The country's central bank has left the door open to further
policy easing.
"Looser fiscal and monetary policy should help the economy
to regain some momentum in the quarters ahead," Capital
Economics said in a note.
Taiwan's dollar also strengthened.
For the overall region, "it seems likely that the worst of
the export slowdown is behind us, providing marginal support to
Asia FX if the data improves into next year," BofA Merrill Lynch
Global Research said in a note.
The Indian rupee, the Singapore dollar and
Chinese yuan were flat.
The Malaysian ringgit gained 0.1%. The government
is working to resolve a spat with India that has resulted in
calls to boycott Malaysian palm oil, a key export product.
On Wednesday, both Malaysia and Singapore said consumer
prices in September rose more slowly than expected.
The Philippines peso weakened 0.2% to 51.080 a
dollar.
CURRENCIES VS U.S. DOLLAR
Change on the day at 0541 GMT
Currency Latest bid Previous day Pct Move
Japan yen 108.590 108.68 +0.08
Sing dlr 1.362 1.3620 +0.00
Taiwan dlr 30.565 30.611 +0.15
Korean won 1171.600 1172.4 +0.07
Baht 30.280 30.29 +0.03
Peso 51.080 51 -0.16
Rupiah 14025.000 14025 +0.00
Rupee 70.913 70.91 -0.00
Ringgit 4.183 4.186 +0.07
Yuan 7.067 7.0667 +0.00
Change so far in 2019
Currency Latest bid End 2018 Pct Move
Japan yen 108.590 109.56 +0.89
Sing dlr 1.362 1.3627 +0.05
Taiwan dlr 30.565 30.733 +0.55
Korean won 1171.600 1115.70 -4.77
Baht 30.280 32.55 +7.50
Peso 51.080 52.47 +2.72
Rupiah 14025.000 14375 +2.50
Rupee 70.913 69.77 -1.61
Ringgit 4.183 4.1300 -1.27
Yuan 7.067 6.8730 -2.74
(Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by
Richard Borsuk)