ECONOMY & MARKETS

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A man wearing a protective mask, amid the coronavirus disease (COVID-19) outbreak, walks past an electronic board displaying graphs (top) of Nikkei index outside a brokerage in Tokyo

Asia Shares Edge Higher As Dollar Eases

Asian shares crept higher as the dollar eased, with markets turning calmer after a record interest rate hike from the European Central Bank and hawkish comments from the U.S.
A view shows oil terminal Kozmino near Nakhodka

Oil Prices Near Eight-month Lows On Demand Concerns

Oil prices edged higher on Thursday, but remained near eight-month lows, as China's extension of COVID-19 lockdown measures exacerbated concerns a slowdown in global economic activity would hit fuel demand.
Federal Reserve Board Chair Jerome Powell speaks during a news conference, in Washington

Futures Head Lower Ahead Of Powell's Speech

U.S. stock index futures slipped on Thursday after a broad market rebound in the previous session, with investors looking ahead to Federal Reserve Chair Jerome Powell's speech for clues on monetary policy tightening plans.
Hang Seng Stock index in Hong Kong

Asian Stocks Extend Rally Despite Growing China COVID Concerns

Asian stocks rode a global rally on Thursday, making broad gains as oil prices steadied at lower levels not seen since before Russia's invasion of Ukraine, though China was an exception as weak data signalled more pressure on the COVID-hit economy.
Two women walk next to the Reserve Bank of Australia headquarters in central Sydney

Australia's Central Bank Opens Door To Slower Rate Hikes

Australia's top central banker opened the door on Thursday to slowing the bank's policy tightening after five rate increases in as many months, sparking a rally in bonds as markets scaled back bets on further aggressive moves.
Illustration picture of Japanese yen and U.S. dollar banknotes

Dollar Resumes Climb In Asia As Powell Speech, ECB Loom

The dollar resumed its rise in Asia on Thursday after falling back from a two-decade high overnight, as investors pondered the path of global monetary policy ahead of a European Central Bank rate decision and comments from Federal Reserve Chair Jerome Powell later in the day.
A Bank of America building is seen in Los Angeles

Ambac's $2.7 Billion Mortgage Case Against Bank Of America Heads To Trial

The trial in Ambac Financial Group Inc's $2.7 billion case against Bank of America is expected to begin in New York state court on Wednesday, 12 years after the bond insurer sued over troubled mortgage-backed securities issued before the 2008 financial crisis.Starting in 2004, Ambac insured securities backed by 375,000 home loans from the bank's Countrywide unit.

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