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Japanese stocks rose, with the Nikkei 225 (NKY) Stock Average rising the most in two weeks, after a North Korean rocket launch failed and Fast Retailing Co. forecast record profit. Shares pared gains as slower growth in China tempered optimism from a surge in new lending.
Fanuc Corp., which provides robotics for mainland factories, pared gains to 2.8 percent after the China gross domestic product report. Canon Inc., a camera maker that gets 27 percent of its sales in the Americas, advanced 1.3 percent after the U.S. Federal Reserve signaled interest rates will remain low. Fast Retailing Co. (9983), Asia’s biggest clothier, jumped 8.6 percent.
“It’s better to have it fail than succeed,” said Masahiko Ejiri, a senior fund manager in Tokyo at Mizuho Asset Management Co., which oversees $39 billion, speaking of North Korea’s unsuccessful rocket launch. “Even if they do build a nuclear weapon, it doesn’t matter if they can’t make it fly.”
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Times of Oman
Egyptian Finance Minister Amr El-Garhy said on Monday he expects a financing agreement with a consortium of global banks will be renewed for another year with the aim to boost foreign reserves while
Maybank Islamic Bhd has emerged as the Best Global Islamic Financial Institution, its first ever, at the Global Finance Awards 2017.
It was also recognised as the Best Global Sukuk Bank an
New Straits Times
China’s major share indexes fell on Monday as a surprisingly strong central bank economic growth projection failed to spur buying while tech stocks slumped after disappointing profit forecasts.
Pakistan's first international bond in a year is likely to be well received by investors, despite deepening concerns about the country's macroeconomic stability and deteriorating political risk profi
Nikkei Asian Review