China stocks fell sharply again on Thursday, fighting off fresh moves by regulators to restore confidence and raising questions about how much more firepower Beijing can bring to bear before a full-scale panic sets in.
China's stock markets closed sharply lower on Monday after a frantically volatile day of trading, despite surprise monetary easing moves by the central bank at the weekend.
China's Foreign Ministry said on Monday that the euro zone has the wisdom and ability to resolve the Greek debt crisis, after Athens failed to strike a deal with its lenders, taking it a step closer to a default that could force its exit from the euro zone.
One of China's biggest ever foreign policy successes will take concrete shape on Monday when delegates from 57 countries sign an agreement on the Asian Infrastructure Investment Bank (AIIB) in Beijing.
India's biggest airline IndiGo is set to file a prospectus next week for a domestic stock market listing, which is expected to raise as much as $400 million, according to three sources with knowledge of the matter.
China's central bank cut lending rates for the fourth time since November and trimmed the amount of cash that some banks must hold as reserves, stepping up efforts to support an economy that is headed for its poorest performance in a quarter century.
Alibaba Group Holding Ltd's financial affiliate launched on Thursday Internet bank MYbank, targeting the small- and medium-sized Chinese enterprises that have struggled to obtain credit from major financial institutions.
Oil prices were steady on Thursday as an unexpected build in U.S. gasoline inventories offset a higher than forecast draw in crude stocks.
The Bank of Japan said it expects factory output to fall for the first time in three quarters in April-June on weak Asian demand, underscoring the fragile nature of the economic recovery.
China will increase support for cross-border e-commerce as the world's second-largest economy shifts from manufacturing to higher-value services, the government said.
Prices of many foodstuffs are surging in India, despite a good start to monsoon rains - an unexpected boon for wholesalers, but a major headache for the central bank and a government hoping for its help to reboot the economy.
India is planning to issue sovereign bonds linked to the bullion price in an effort to divert some of the estimated 300 tonnes of annual demand for gold bars and coins, and reduce bullion imports that can push up the trade deficit.
Bank of Japan Governor Haruhiko Kuroda said the yen's current weakness was not inflicting severe pain on the economy, toning down an earlier warning to markets against pushing the currency too far down.
Asian shares rose for a third consecutive day on Friday even as China stocks tumbled into correction territory, while the Federal Reserve's cautious stance towards lifting interest rates kept the dollar on the back foot.
China's Ant Financial Services Group, e-commerce giant Alibaba Group Holding Ltd's (BABA.N) internet finance affiliate, closed a private placement valuing the unit at about $45 billion, a person familiar with the matter said Thursday.
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