Asian stocks edge higher after plunge on first trading day of 2016

SEOUL, South Korea – Most Asian stock markets inched higher Tuesday as China’s benchmark stabilized a day after plunging nearly 7 per cent.The Shanghai Composite Index wavered between gains and losses. It was last up 0.1 per cent at 3,299.99. Japan’s Nikkei 225 added 0.3 per cent to 18,514.33 while Australia’s S&P/ASX 200 slipped 0.9 per cent to 5,224.40.South Korea’s Kospi was up 0.7 per cent to 1,932.45 and Hong Kong’s Hang Seng gained 0.2 per cent to 21,371.44. Stocks in Southeast Asia were mixed.Global stocks started the new year on a grim note as poor manufacturing reports from China and the U.S. triggered fears about waning growth around the world. The steep fall on Monday prompted Chinese authorities to halt trading by using a new “circuit-breaker” mechanism for the first time.“Traders are not seeing clarity on the direction of growth. As we are all too familiar with, uncertainty is quite bad for the financial markets,” said Bernard Aw, market strategist at IG in Singapore.Tensions in the Middle East also unnerved investors. Saudi Arabia severed diplomatic relations over the weekend in a dispute over the Saudis’ execution of a Shiite cleric. Concerns about a potential threat to world oil supply pushed up prices of oil.Wall Street finished lower on Monday. The Dow Jones industrial average dropped 1.6 per cent lower to 17,148.94. The Standard & Poor’s 500 lost 1.5 per cent to 2,012.66. The Nasdaq composite fell 2.1 per cent to 4,903.09.Benchmark U.S. crude added 28 cents to $37.04 per barrel on the New York Mercantile Exchange. The contract fell 28 cents to close at $36.76 a barrel on Monday. Brent Crude, the international standard, added 26 cents to $37.48 per barrel in London.In currencies, the dollar rose to 119.54 yen from 119.43 yen in the previous trading session. The euro rose slightly to $1.0828 from $1.0826. Trader Gerard Farco works on the floor of the New York Stock Exchange, Monday, Jan. 4, 2016. U.S. stocks are opening 2016 on a grim note, dropping sharply after a plunge in China and declines in Europe. (AP Photo/Richard Drew) by Youkyung Lee, The Associated Press Posted Jan 4, 2016 8:17 am MDT Last Updated Jan 4, 2016 at 9:00 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Asian stocks edge higher after plunge on first trading day of 2016 sparked by China concerns read more

Second World War bomb destroyed in controlled explosion

first_imgBirmingham Police Commander Chris Johnson said earlier: “An initial assessment from Army bomb disposal suggests this is a large explosive device – that’s why an extensive cordon has been put in place for public safety.”We don’t take decisions like this lightly but public safety has to be our number one priority.”Hundreds of homes have been evacuated and we are working with our partners to provide emergency accommodation.”There have been some difficulties in accessing the device given the terrain and its position within a construction site – but all agencies involved are working as quickly as possible to bring the situation to a safe conclusion with brave military staff risking their safety to ensure that of the public.” Bomb disposal experts have carried out a controlled explosion on a Second World War device.The bomb was discovered by construction staff near Aston, Birmingham, on Monday morning and has been identified as a German shell weighing up to 500lb (227kg).The M6 between junctions 4 and 7 was temporarily closed as Army disposal experts carried out the controlled explosion, West Midlands Police said.The force added it is hopeful the motorway will reopen soon. Want the best of The Telegraph direct to your email and WhatsApp? Sign up to our free twice-daily  Front Page newsletter and new  audio briefings. Police closed the A38 Aston Expressway, and homes and businesses within a 500-metre cordon were also evacuated, after the alarm was raised at 9.45am on Monday.Dozens of people spent the night in a rest centre as hundreds of nearby homes were evacuated.The Red Cross said around 80 people were cared for overnight by volunteers.The A38 is expected to be closed for most of Tuesday, with 250 tonnes of sand brought in as part of the “major, delicate” operation. @OFFICIALWMAS pic.twitter.com/hbpGwdw5ym— Steve Wheaton (@stevewhe) May 16, 2017 The bomb that was found near Aston Expressway The bomb that was found near Aston ExpresswayCredit:West Midlands Policelast_img read more