Aust Dollar Soars Past US71c

The Australian dollar has rallied on the back of a broad greenback selloff triggered by weaker-than-expected US economic data. At 7.00am (AEDT) on Thursday, the local unit was trading at US71.80c, up from US70.21c on Wednesday. The currency climbed to a one-month high of US71.88c earlier in the session. The US service sector expanded in January but at a slower pace than the previous month, causing the greenback to fall against most major...

Oil Rises on Dollar Tumble, Ignoring Highest Supplies Since 1930

Oil rose as the falling dollar countered any concerns in the market over a steep gain in U.S. crude inventories to more than 500 million barrels for the first time since 1930. Commodities rallied as the Bloomberg Dollar Index, which tracks the currency against major peers, fell as much as 1.9 percent. Oil futures briefly retreated after the Energy Information Administration reported that U.S. crude stockpiles climbed 7.79 million barrels...

Asian Stocks Swing as Rebound in Crude Offsets Declines in Japan

Asian stocks fluctuated, with Japanese equities erasing gains from the Bank of Japan’s latest stimulus, as a strengthening yen offset a rally in crude oil. The MSCI Asia Pacific Index rose less than 0.1 percent to 119.87 as of 9:20 a.m. in Tokyo, after falling as much as 0.1 percent earlier. The Standard & Poor’s 500 Index advanced on Wednesday as commodity producers rallied with oil. The yen traded at 118.05 per dollar after strengthening...

Japanese Stocks Slide, Almost Erasing BOJ Gains, After Yen Jumps

Stocks fell in Tokyo, with the benchmark Topix index close to erasing its gains from the Bank of Japan’s latest stimulus, as exporters declined after the yen jumped against the dollar. The Topix lost 0.9 percent to 1,394.05 as of 9:10 a.m. in the Japanese capital after tumbling 3.2 percent on Wednesday. The measure briefly dropped below its closing level on Jan. 28, the day before the central bank surprised investors by saying it would...

Hong Kong stocks fall more than 2 pct; energy, insurance sectors weak

Hong Kong shares tumbled more than 2 percent on Wednesday led by energy firms as oil prices declined and insurance heavyweights, after Beijing imposed limits on purchases of insurance products in the city by mainlanders using bank cards. The Hang Seng Index fell 2.3 percent, to 18,991.59, while the China Enterprises Index lost 2.5 percent, to 7,858.31 points. In its latest move to curb outflows, China was putting a limit on purchases...