Singapore

Hang Seng, Shanghai Composite, Covid, oil

SINGAPORE — Greater China stock indexes led losses as Covid concerns resurge, while Asia-Pacific markets traded lower on Wednesday. Oil futures rose after plunging overnight. Hong Kong’s Hang Seng index slipped 1.37%, with heavyweights HSBC and CNOOC falling 3.93% and 5.58%, respectively. mainland China markets also declined. The Shanghai Composite shed 1.34%, and the Shenzhen …

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Hiking interest rates the wrong solution to inflation problem: Analyst

Raising interest rates to tame demand — and therefore inflation — is not the right solution, as high prices have been driven mainly by supply chain shocks, one analyst said. Global manufacturers and suppliers have been unable to produce and deliver goods to consumers efficiencies during the Covid lockdowns. And more recently, imposed sanctions on …

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Asia-Pacific markets are mixed as investors searching for direction

SINGAPORE — Australian stocks rose more than 1% while Hong Kong and South Korean markets were lower on Monday ahead of Australia and Malaysia central bank decisions this week. The S&P/ASX 200 advanced 1.11% to end the session at 6,612.6, with banking and retail stocks in the green. Japan and mainland China markets were also …

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Crypto hedge fund Three Arrows files for Chapter 15 bankruptcy

Crypto hedge fund Three Arrows Capital (3AC) is seeking protection from creditors in the United States under Chapter 15 of the US Bankruptcy Code, which allows foreign debtors to shield US assets, according to a court filing on Friday. Singapore-based 3AC is one of the biggest consequence of the latest so-called “crypto winter” to date. …

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