• The Canadian Press

    Stock market today: Asian markets follow Wall Street swings after Fed keeps interest rates high

    HONG KONG (AP) — Asian markets wobbled in early Thursday trading after U.S. stocks swung to a mixed finish with the Federal Reserve delaying cuts to interest rates. U.S. futures surged and oil prices were higher. Tokyo’s Nikkei 225 index opened with a decline, then climbed 0.1% to 38,299.71. The Japanese yen surged as much as 2% in early Asia hours Thursday, driven by speculations of another round of yen-buying intervention by Japanese authorities and a weaker U.S. dollar following the Fed meeti

  • Reuters

    GLOBAL MARKETS-Asia stocks rise as Fed tamps down hike fears; yen leaps

    Asian stocks and U.S. futures rose on Thursday after the Federal Reserve downplayed risks of an interest rate hike, while the yen was bumpy after another burst of suspected intervention from Japan. Shortly after Fed Chair Jerome Powell had finished telling reporters the Fed may have to leave rates elevated, the yen surged against the dollar.

  • Reuters

    Papua New Guinea has 'human capital crisis', says World Bank

    The World Bank has urged the largest Pacific Island nation, Papua New Guinea, to address a "human capital crisis" and invest more in educating children, who suffer high rates of stunted growth and illiteracy, as a way to boost economic growth and security. An annual economic update for Papua New Guinea (PNG) released on Thursday shows economic growth was a modest 2.7% last year, half the previous year, because of delays in the reopening of the Porgera gold mine and lower liquefied natural gas production. To free PNG from dependence on the resources sector, the report urged more investment in people.