Wall street stocks fall

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 + 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

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