October, 2018

• 31 October

  US stocks rally to end painful month; dollar at 16-month high

  

  Bloomberg US stocks rallied on the final day of one of the worst months of the bull market, as earnings from Facebook jolted tech shares higher. The dollar added to a 16-month high. The S&P 500 Index headed for the first back-to-back gains of October, paring its steepest monthly drop since 2011 to 7 percent. Strong earnings that had largely ...

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• 31 October

  Traders see little hope in world’s worst stock market in October

  

  Bloomberg For South Korean stock investors, a rebound did little to revive optimism. Sentiment among fund managers remains decisively negative as the benchmark Kospi Index heads for the world’s biggest monthly slide after entering bear territory last week. The nation’s equity market has lost more than $300 billion in value in about a month, with the benchmark dipping below the ...

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• 31 October

  Oil poised for biggest monthly slide since 2016 on growth fears

  

  Bloomberg Oil’s set for its biggest monthly drop since 2016 as the specter of a slowdown in the global economy haunts the market while US inventories grow and producers relay mixed signals. Futures in New York are poised for an 8.8 percent drop in October, following two months of gains. A global equity rout and an escalating US-China trade war ...

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• 31 October

  India seeks $2bn from stake sale in largest coal miner

  Bloomberg India will sell as much as 9 percent in monopoly miner Coal India Ltd. in a public offer starting on Wednesday, according to a regulatory filing by the country’s coal ministry. The federal government, which owns 78.55 percent in the world’s largest coal producer, will sell a 3 percent stake, or 186.22 million shares, with an option to sell ...

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• 31 October

  Weaker China adds to risks of a synchronised global slowdown

  

  Bloomberg China’s manufacturing sector worsened in October as the trade war hit home, adding to risks the global economy may be edging towards a synchronised slowdown. China’s official factory gauge missed estimates with a reading of 50.2 and its exports sub-index slumped to the lowest reading since early 2016. In other data released on Wednesday, Industrial output for September in ...

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• 31 October

  Singapore tops luxury real estate ranking

  

  Bloomberg Guess which city managed to top a luxury real-estate ranking despite a slew of cooling measures to tame its property market? Yes, the tiny island nation of Singapore, nudging out Hong Kong. Luxury home prices rose 13 percent in the quarter ended September 30 from a year earlier, according to Knight Frank LLP’s Prime Global Cities Index. Gains were ...

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• 31 October

  India Inc. faces ‘trust deficit’ after lender default: S&P

  

  Bloomberg Borrowing conditions for Indian companies will likely remain tough for months as fallout from defaults at Infrastructure Leasing & Financial Services Ltd. continue to weigh on the nation’s debt market, according to S&P Global Ratings. “India’s financial markets are facing a trust deficit,” S&P credit analyst Geeta Chugh wrote in a note. “The disruption could put a strain on ...

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• 31 October

  Docomo to spend $8.8bn on 5G

  Bloomberg NTT Docomo Inc., Japan’s second-biggest mobile phone carrier by sales, plans to invest 1 trillion yen ($8.8 billion) on infrastructure over five years for 5G services that allow faster data transmission. The carrier also increased planned investment this year by 10 billion yen for offering “pre-commercial” 5G services at limited locations including airports, stadiums and Docomo premises by September ...

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• 31 October

  Samsung cuts capital spending

  

  Bloomberg Samsung Electronics Co. posted quarterly profit that topped analyst estimates on growth in its memory chip business, but signaled caution in semiconductors by announcing a cut in capital spending for the year. Net income rose to 13 trillion won ($11.4 billion) in the three months ended September, the Suwon, South Korea-based company said in a filing on Wednesday. That ...

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• 31 October

  Falling peso hits debt-laden Philippine companies

  

  Bloomberg The Philippines’ biggest companies face another year of significant repayments of US dollar debt after record amounts came due in 2018, even as a slumping peso makes it costlier to pay back. A total of $4.9 billion in dollar bonds and loans have matured or will still come due in 2018, more than four times the amount last year ...

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