DIRS.INFO The most relevant business & tech news

☆ Inside the chaos in Seoul after South Korea's president sprang 6 hours of martial law on his people
▼ + stars: | 2024-12-04 | by ( Matthew Loh | ) www.businessinsider.com time to read: +13 min

South Korea's president, Yoon Suk-yeol, shocked the nation on Tuesday evening by declaring martial law. AdvertisementThe last time martial law was declared in South Korea was in 1980, when a military dictatorship took over. 12 a.m. — Martial law forces reach the complexAs the National Assembly started to meet its quorum requirement, the first of the martial law forces arrived outside. Related stories12:48 a.m. — Lawmakers vote to lift martial lawLed by Woo, the National Assembly officially began the vote on reversing martial law. 4:40 a.m. — Martial law is lifted and troops withdrawYoon's martial law was officially rescinded by an emergency Cabinet meeting, and dispatched forces returned to their bases.

Persons: Yoon Suk, yeol, Yoon, — Yoon, Kim Hongmin, Kim, Han Dong, Han, Chris Jung, Yonhap, Lee Jae, Myung, mobilizes, Lee, Kim Hong, Woo Won, Woo, Park Jie, Park, Chung Sung, —, Lee Tae, Daniel Ceng, Ellen Kim, Yun, Donald Trump, Yoon's Organizations: Assembly, North Korean, Democratic Party, People Power Party, Getty, National Assembly, Lawmakers, Protesters, Police, —, South Korean, — Troops, Democratic Party's, REUTERS, Korean, Soldiers, South, Park, National, Center for Strategic, International Studies, CSIS Locations: Seoul, Republic of Korea, Korean, Hongdae, South Korea, Yeouido, South, Gwangju, South Korea's, —, Anadolu, Korea, YONHAP, Ukraine, Gwanghwamun

☆ Japan's Nikkei opens up 2% as Asia markets mostly climb ahead of a week of central bank decisions
▼ + stars: | 2024-10-07 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Asia-Pacific markets mostly climbed on Monday, led by Japan's Nikkei 225 gaining 2% as investors look ahead to a week of central bank decisions from around the region. Three central banks are set to release their interest rate decisions this week, namely the Bank of Korea, the Reserve Bank of New Zealand and the Reserve Bank of India. Economists polled by Reuters expect the BOK and RBNZ to cut rates, while the RBI will hold. The BOK on Friday is expected to lower its benchmark interest rate to 3.25% from 3.5%, while the RBNZ is expected to enact a 50-basis-point cut to 4.75% on Wednesday. Back in August, the RBNZ surprised economists after it lowered its policy rate to 5.25% from 5.5%.

Persons: BOK Organizations: Japan's Nikkei, Bank of, Reserve Bank of New, Reserve Bank of India, Reuters Locations: Seoul . Asia, Pacific, Bank of Korea, Reserve Bank of New Zealand

☆ Japan's Nikkei tumbles more than 2% as Asia-Pacific markets fall, tracking Wall Street sell-off
▼ + stars: | 2024-07-25 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets saw a sell off on Thursday, tracking losses on Wall Street as the S&P 500 and Nasdaq Composite saw their worst days since 2022. The broad market index lost 2.31%, closing at 5,427.13, while the tech-heavy Nasdaq slid 3.64% to end at 17,342.41. Meanwhile, Tesla shares declined 12.3% — their worst day since 2020 — on weaker-than-expected results and a 7% year-over-year drop in auto revenue. Over in Asia, investors will assess South Korea's advance second-quarter GDP numbers, which came in slightly below expectations. South Korea's GDP grew 2.3% year on year, lower than the 2.5% expected by economists polled by Reuters.

Persons: — Organizations: Nasdaq, Dow Jones, Tech, Nvidia, Meta, Reuters Locations: Seoul . Asia, Pacific, Asia

☆ Asia markets poised for a stronger start as Wall Street rebounds from Fed day sell-off
▼ + stars: | 2024-02-02 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

In a photo taken on November 4, 2019 a subway train crosses a rail bridge over the Han river, before the skyline of the Yeouido business district of Seoul. Asia-Pacific markets were set to rise early Friday in Asia, mirroring Wall Street's rebound from the sell-off earlier this week after Chairman Jerome Powell indicated the U.S. Federal Reserve was unlikely to cut rates in March. In Asia, investors will wrap up the week with January inflation figures out of South Korea and producer prices from Australia. South Korea's consumer price index grew 2.8% year on year, slightly below the 2.9% expected in a Reuters poll of economists.

Persons: Jerome Powell Organizations: U.S . Federal Locations: Seoul . Asia, Pacific, Asia, South Korea, Australia

In a photo taken on November 4, 2019 a subway train crosses a rail bridge over the Han river, before the skyline of the Yeouido business district of Seoul. Asia-Pacific markets largely rose on Tuesday, mirroring similar moves on Wall Street after a tech-fueled rally. Microsoft shares gained 2%, reaching a new 52-week high, after CEO Satya Nadella said former OpenAI chief Sam Altman will join the tech giant to lead a new AI research team. Chipmaker Nvidia also added 2.3%, closing at an all-time high for the stock ahead of its earnings report Tuesday. Investors in Asia will also assess South Korean producer prices for October, as well as New Zealand's October trade figures.

Persons: Satya Nadella, Sam Altman Organizations: Microsoft, Nvidia, Investors, South Locations: Seoul . Asia, Pacific, Asia, South Korean

☆ South Korea stocks lead Asia markets higher after short selling ban
▼ + stars: | 2023-11-06 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: 1 min

In a photo taken on November 4, 2019 a subway train crosses a rail bridge over the Han river, before the skyline of the Yeouido business district of Seoul. South Korea stocks surged on Monday after the country re-imposed a ban on short-selling, while most Asia-Pacific markets took heart from a soft U.S. jobs report that helped reduce interest rate expectations. Financial authorities in South Korea said short-selling will be banned until the end of June 2024. Short-selling is when a trader sells borrowed shares to buy back at a lower price and pocket the difference. Japan's business activity expanded in October but at its softest pace this year, according to a private survey.

Persons: nonfarm, Dow Organizations: Federal Reserve Locations: Seoul . South Korea, Asia, Pacific, South Korea

☆ China gives Ehang the first industry approval for fully autonomous, passenger-carrying air taxis
▼ + stars: | 2023-10-13 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

An EHang all-electric Vertical Takeoff and Landing (eVTOL) two-passenger multicopter aircraft, performs an unmanned display flight at a Korean government event at Yeouido island in Seoul on November 11, 2020. BEIJING — Self-driving air taxis are one step closer to reality in China. Guangzhou-based Ehang on Friday said it received an airworthiness "type certificate" from the Civil Aviation Administration of China for its fully autonomous drone, the EH216-S AAV, that carries two human passengers. The regulator is the equivalent of the Federal Aviation Administration in the U.S.U.S.-listed Ehang claims it's the first in the world to get such a certificate, which allows it to fly passenger-carrying autonomous electric vertical take-off and landing (eVTOL) aircraft in China. Ehang shares have nearly doubled in price this year, before trading was temporarily halted Monday "in anticipation of an upcoming announcement concerning a very significant development regarding its business operations."

Persons: it's, Huazhi Hu, Ehang Organizations: BEIJING —, Civil Aviation Administration, China, Federal Aviation Administration, U.S ., CNBC Locations: Seoul, BEIJING, China, Guangzhou, U.S . U.S, U.S, Europe, Southeast Asia

☆ Asia markets largely set to fall after Fed holds rates, but signals higher rates for longer
▼ + stars: | 2023-09-21 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

In a photo taken on November 4, 2019 a subway train crosses a rail bridge over the Han river, before the skyline of the Yeouido business district of Seoul. Asia-Pacific markets are set for a mixed open after the U.S. Federal Reserve held its benchmark policy rate, but said it will raise interest rates one more time this year, according to the central bank's projections. Projections showed the central bank expects to hike rates to a median of 5.6% by the end of 2023, up from the current range between 5.25% and 5.5%. The rate-setting Federal Open Market Committee projected two rate cuts in 2024, which is two fewer than its forecast in June. That would put the funds rate around 5.1%.

Organizations: U.S . Federal Reserve Locations: Seoul . Asia, Pacific

Search resuls for: "Yeouido"

8 mentions found