China, as part of a wider drive into progressive industries to boost its GDP growth, plans to combine over 40 entities to work on the giant $22 billion plane-engine project. Under the plan, the government of China along with companies like Aviation Industry Corp. would invest 35 billion yuan.
Tags: Asian stocks
Asian Markets to Gain on Fed Rate Cut Signal; Japan's Yen Remains on the Brink
Asian markets are poised for further gains after US markets' positive reaction to the Federal Reserve's signal that interest rates could be slashed by 75 basis points this year.
Global stocks soar on rising investor confidence
Global stocks rose further as increased investor confidence propelled buying support. Investor confidence has been strengthened after the announcement of European Central Bank's stimulus plans and encouraging US economic data.
China stocks decline, but trim losses
China's stocks fell for a second session, but managed to pare early losses on buying support from state-backed institutions. However, the buying support from state-backed funds renewed concerns that inflation is rising.
Dollar Rate Increases Following Positive Outlook in US Economy After Faltering Against Yen
G-20 summit has been concluded with no major surprising outcome. Lack of strong commitments has helped Yen to gain some value against US dollar. However, on Monday, US dollar has regained some value. The appreciation has been analyzed as an outcome of positive US data which in turn is the consequence of Fed rate hiking.
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Asian market hit a worst week starting the 2016 trading. Global market also slipped following the turbulence in China.
Asian stocks dropped on low trading volume as commodity producers followed fall in industrial metals and crude oil. Investors and institutions are in the wait and watch mode ahead of US Fed's meeting in December.
Taking positive cues from encouraging gains on Wall Street, Asian stocks with an exception to China moved up on Tuesday. Chinese stock market dropped following the jitters emerging from adverse developments in forms of corruption and illegal trading that dampened the market sentiment.
Forecasts about price swings in Yen against the euro are becoming stronger as investors bet that Bank of Japan (BoJ) will also make dovish rhetoric to match European Central Bank (ECB).
Asian stocks continued to slide for the second session following the renewed concerns over the moderating inflation and slump in factory output in the China's economy.
The lack of clarity about the US data and timing of interest rate hike have put further pressure on Asian stock markets. Several Asian stocks slipped into pressure on Friday trading ahead of the US data jobs report. Japan's Nikkei fell 1.7 percent for the week. The long holiday stretch for Chinese markets also resulted in sluggishness in the Asian market.
Asian stocks pulled back from a seven-year peak scaled on Tuesday as sentiment gave way to caution ahead of the Federal Reserve's policy two-day meeting scheduled to start later in the session.
Asian stocks rose on Thursday, extending the previous session's gains, while the dollar drew support from minutes of the Federal Reserve's last meeting showing the U.S. central bank was still on course to hike interest rates this year.
Asian stocks were mixed on Friday and the dollar rebounded as rising tensions in the Middle East clouded the investment outlook.
