Yen fall continues as global stocks rally
London
THE yen fell for the third straight day on Wednesday as a rally in global stock markets sapped demand for safe-haven assets, while the low-yielding euro also weakened as a recent unwinding of risky euro-funded carry trades took a breather.
Japan's Nikkei jumped 7.7 per cent, posting its biggest single-day gain in nearly seven years, after Prime Minister Shinzo Abe's comments raised hopes of more fiscal stimulus. That set the stage for a 2 per cent rally in European stocks with Wall Street also set for a rise.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Porsche posts Q1 profit drop on ramp-up costs
IBM plots US$730 million expansion of Canadian semiconductor site
Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early
Yeo Guat Kwang, John Chen retiring from corporate boards
US: Wall St opens higher
Air China orders homegrown C919s in challenge to jet duopoly