Asia Stocks Set for Mixed Open as US Rally Falters: Markets Wrap
Stocks in Asia slid following a sluggish US session, with investors seeking firm evidence of an earnings recovery before taking this month’s rally further.
Stocks in Asia slid following a sluggish US session, with investors seeking firm evidence of an earnings recovery before taking this month’s rally further.
PCCW Ltd., the telecommunications group controlled by Hong Kong tycoon Richard Li, is in advanced talks to sell a significant minority stake in its fiber business to China Merchants Group Ltd., according to people familiar with the matter.
Australia’s biggest banks plan to return more than A$5 billion ($3.3 billion) to shareholders just as fierce rivalry in the mortgage market shows few signs of easing.
The potential big foreign inflows into Indian bonds will help the rupee recover from near a record low, but the nation’s central bank is likely to limit the extent of gains, according to Fitch Ratings.
The bounceback in Chinese stocks from their multi-year lows risks running out of steam unless the nation’s tech giants can deliver on their earnings next week.
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