HONG KONG, Oct 14, (APP/AFP) – Hong Kong stocks rallied Friday as the first rise in Chinese producer prices for more than four years helped recover some of the previous day’s sharp losses. The Hang Seng index added 0.58 percent, or 132.50 points, to 23,163.80 by the break. But the benchmark Shanghai Composite Index dropped […]
Business News
Hong Kong stocks end morning higher after China data
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HP announces job cuts as part of restructuring
NEW YORK, Oct 14 (APP/AFP): Electronics maker HP Inc on Thursday said it expected to cut 3,000 to 4,000 jobs over the next three years as part of a restructuring plan adopted earlier this week. The plan should generate gross annual savings of $200 to $300 million beginning in 2020 but will also result in […]
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Thai stock market jumps after king’s death
BANGKOK, Oct 14, (APP/AFP) – Thai stocks soared 3.5 percent at the open on Friday, despite the death of the revered King Bhumibol Adulyadej, with analysts saying the market had been heavily oversold this week. Shares had plunged this week as analysts warned the passing of the monarch, a rare symbol of unity in the […]
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Samsung sees further $3bn profit hit from Note 7 crisis
SEOUL, Oct 14, (APP/AFP) – Samsung on Friday said the crisis over its exploding Note 7 smartphones would cost another $3 billion-plus in lost profit over the next two quarters, but hoped expanded sales of its other flagship handset would help cushion the impact. The profit warning came two days after the South Korean electronics […]
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Samsung forecasts further $3 billion profit loss
SEOUL, Oct 14 (APP/AFP): Samsung on Friday estimated that the crisis over its exploding flagship Galaxy Note 7 smartphones would cost the company more that $3 billion in lost operating profit over the next two quarters. “The negative impact is estimated in the mid-2 trillion won ($2.2 billion) range for the fourth quarter of 2016 […]
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Tokyo stocks open higher
TOKYO, Oct 14, (APP/AFP): Tokyo stocks opened higher Friday after two days of losses, shrugging off worries over the world economy spawned by weak Chinese data. The benchmark Nikkei 225 index gained 0.32 percent, 53.92 points, to 16,828.16 in the fist few minutes of trading. The broader Topix index of all first-section issues was up […]