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A screen in Hana Bank's trading room in central Seoul shows the Kospi closing at 2,612.45 points on Thursday, down 4.77 points, or 0.18 percent, from the previous trading day. [NEWS1] Stocks ended lower Thursday over the gloomy outlook on inflation and concerns over aggressive monetary tightening. The won fell against the dollar. The Kospi lost 4.77 points, or 0.18 percent, to close at 2,612.45. Trading volume was light at 583.60 million shares worth 8.48 trillion won ($6.69 billion), with decliners outpacing gainers 422 to 395. Institutional investors sold a net 155.8 billion won, while retail and foreign investors bought a net 95.6 billion won and 37.8 billion won worth of shares each. The index opened higher, tracking overnight gains on Wall Street, as the U.S. Federal Reserve's minutes of the early May meeting indicated some flexibility in its rate hike plans. But the market turned lower, after the Bank of Korea (BOK) raised the base interest rate by a quarter … [Read more...] about Stocks end lower over gloomy outlook on inflation

- A + A BENGALURU (May 26): Most emerging market stocks in Asia eked out gains on Thursday (May 26) on signs that the US Federal Reserve (Fed) could pause policy tightening later in the year, while regional currencies took a hit from concerns over slowing growth in China. Shares in Singapore led the region's markets higher with a gain of 0.8%, while stocks in Taiwan and India lost 0.8% and 0.6% respectively, and were the biggest losers. Minutes from the Fed's meeting this month showed the faith that the policymakers had in the strength of the US economy, helping lift the mood on Wall Street overnight. But the sentiment was more cautious in Asia which faces risks of capital outflows due to interest rate hikes by global central banks to tame decades-high inflation. The region's currencies were broadly lower, with the Chinese yuan weakening the most with a 0.7% slide as investors digested comments from Chinese Premier Li Keqiang's in a rare nationwide meeting. … [Read more...] about Most Asian stocks rise after Fed minutes; China growth woes hit currencies

A banker watches news on the Russia-Ukraine war at a bank in central Seoul on March 31. [YONHAP] Foreign investors net sold more than 7 trillion won ($5.6 billion) of Korean stocks in the first quarter. LG Energy Solution, with its record-setting initial public offering that went public in January, was the most sold stock by foreign investors in January through March. As the market continues to stay sluggish this year, analysts have lowered their projections on the Kospi in an indication that it may be difficult for the benchmark index to once again reach 3,000 points within the year. Foreign investors net sold 7.57 trillion won Korean stocks in the first quarter. They net sold 5.5 trillion won Kospi stocks, and 1.8 trillion won of secondary Kosdaq stocks. The total market capitalization for Kospi stocks owned by foreign investors was down to 31.61 percent as of last month, the lowest since 31.54 percent recorded in January 2016. They net sold 2.95 trillion won of battery … [Read more...] about Foreign investors offload over 7 trillion won of Korean stocks in Q1

- A + A SHANGHAI (May 26): China stocks ended higher on Thursday (May 26) after struggling to find direction for most parts of the session as investors fretted over signs of a slowdown but took comfort in comments from Chinese Premier Li Keqiang on stabilising the ailing economy. The blue-chip CSI 300 Index closed 0.3% higher at 3,993.04 after losing as much as 1.1% in morning trade, while the Shanghai Composite Index gained 0.5% to 3,123.11 points. The Hang Seng Index fell 0.3% to 20,116.20 and the China Enterprises Index lost 0.3% to 6,877.21 points. "We should strive to ensure reasonable economic growth in the second quarter, lower the unemployment rate as soon as possible, and keep economic operations within a reasonable range," the official Xinhua news agency quoted the premier as saying on Wednesday. "First, he mostly delivered a sombre message on how bad the economy has deteriorated," said Jason Hsu, the founder and chief investment officer of Rayliant … [Read more...] about China stocks gain as Premier Li urges local bodies to stabilise growth

- A + A TOKYO (May 26): The dollar hovered near a one-month low on Thursday as minutes from the Federal Reserve's May meeting confirmed the potential for a pause in rate hikes after likely further increases in June and July. The dollar index - which measures the currency against six major peers - edged 0.1% higher to 102.15 as a decline in Asian equities fostered demand for safe havens like the greenback. However, the index has mostly been consolidating around 102 after a short-lived bounce to 102.45 immediately following Wednesday's release of the minutes. Analysts said there was nothing to suggest a further ramp up of the Federal Open Market Committee's already hawkish stance. Wall Street rallied overnight on that outlook, while long-term Treasury yields held steady. Atlanta Fed President Raphael Bostic had already suggested earlier this week that a pause might be the best course of action in September to monitor the effects on the economy following two more … [Read more...] about Dollar near one-month low as Fed minutes point to rates pause

DAVOS, Switzerland — German Chancellor Olaf Scholz expressed hopes Friday for global cooperation on climate change, hunger and war, while dozens of climate activists demonstrated in the Swiss town of Davos as a meeting of global elites ended with many words but little concrete action to solve the world’s most pressing crises. The German leader ratcheted up his criticism of Moscow’s military onslaught in Ukraine during a speech on the last day of the World Economic Forum’s annual meeting. He said Russian President Vladimir Putin “wants to return to a world order in which the strongest dictate what is right, in which freedom, sovereignty and self-determination are not.” Voicing hopes for countries to work together on shared crises, Scholz said today’s world is no longer bipolar as it was during the Cold War era — when United States and the Soviet Union dominated geopolitics. “If some want to take us back to the past of nationalism, imperialism and war, our answer is ‘not with us.’ … [Read more...] about Davos: Germany seeks “multipolar” world amid climate protest

Carlton House Terrace overlooks The Mall and St James’ Park in London. The Hinduja brothers now occupy Nos 13-16 in the eastern terrace. (Photo: Danish Khan) In 2006, the Hinduja brothers bought 13-16 Carlton House Terrace for £58 million. They spent another £50 million on renovating the 67,000 sq. ft home which was formally opened in 2011. Over 300 people were invited to the housewarming party, but it was a few more years before the Hindujas moved in completely. The family was reluctant to leave their more modest 25,000 sq. ft abode - just opposite Carlton House Terrace - where they had lived for over 30 years. The four brothers Srichand, Gopichand, Prakash and Ashok who control the Hinduja Group do believe in lucky charms. But now the 25-bedroom property, which comprises four interconnected six-storey Georgian Houses, designed by architect John Nash with its classical cornices, French polished timber, and ceiling roses is where they host the high and the mighty. It is easy … [Read more...] about Hinduja brothers’ new London home has a historical link to Buckingham Palace

Abdul Aziz Kozgar, 66, at the 102-year-old Arq-I-Gulab Waan shop in downtown Srinagar. (Photo: Irfan Amin Malik) The downtown area of Srinagar city houses a rose water shop that is more than a century old. Locally known as Arq-I-Gulab Waan, it is the only surviving rose water distillery in Kashmir Valley, situated only a few steps from the famous Khanqah-e-Moula shrine. The smell of roses fills the air in Fateh Kadal locality as the shop owner Abdul Aziz Kozgar, 66, sells several litres of rose water daily in unlabelled plastic containers that aren't pre-filled or stamped. The light grey-bearded Kozgar does not talk much, and mostly remains busy with his customers. “A litre of traditionally-made rosewater is sold just for Rs 45, due to which it has attracted young and old customers,” says Kozgar unsmilingly. Apart from locals, a good number of foreign tourists have been visiting this historical shop which carries 500 years of Kashmir’s legacy. Inside the wood-and-brick … [Read more...] about This 102-year-old shop in Kashmir is still making rose water the traditional way, with Koshur gulab

A 17-year-old male could face vehicular manslaughter charges after he allegedly crashed a Lamborghini into a woman’s car in Los Angeles, nearly instantly killing her, police announced Wednesday, according to the Los Angeles Times. Monique Munoz, 32, died at the scene of the crash after the black Lamborghini SUV collided with the four-door Lexus she was driving on Feb. 17, nearly splitting Munoz’s vehicle in half, the Los Angeles Times reported Wednesday. The teenage son of a wealthy Los Angeles entrepreneur could face manslaughter charges in connection with a high-speed crash that claimed Monique Munoz’s life in West L.A. last month, police confirmed Wednesday. https://t.co/Bqx1sDfBDR — Los Angeles Times (@latimes) March 11, 2021 “It hurts me so much her not being here, ’cause she was not only my daughter, she was my best friend,” Cardova, Munoz’s mother, told CBS LA . “She was tiny but mighty.” “Who gives a kid a Lamborghini?” Isaac Cardona, … [Read more...] about ‘He Killed My Daughter’: Police Arrest 17-Year-Old On Suspicion Of Manslaughter After He Crashes Lamborghini

Elon Musk’s audacious bid appears to threaten the stranglehold that left-liberal politicians and intelligentsia have had over both American mainstream and social media for years now. (Illustration by Suneesh K.) It was probably inevitable that Elon Musk’s $44-billion bid to buy social media platform Twitter would turn intensely political. After all, ever since the 2016 US presidential election, the right wing and conservatives have been accusing the company of a leftist/Democratic Party bias. Musk, who calls himself a “free speech absolutist”, too has made it clear several times that he thinks Twitter’s censorship and intervention laws are skewed. Events have moved fast in the month since Musk made his offer of purchase, and he has been facing attacks coming from all directions. Within days of the Twitter board accepting Musk’s offer, the Joe Biden administration announced the creation of a “ Disinformation Governance Board ”. To many people, this did not seem to be a … [Read more...] about What’s US politics got to do with Elon Musk’s $44 billion Twitter offer?