South Korean stocks led gains in Asia-Pacific markets on Tuesday after Wall Street rose overnight on expectations that the Federal Reserve could cut interest rates soon.
MAS also reprimanded the company's chief executive officer, Olivier Pascal Mivelaz, and chief operating officer, Steve Knabl,"for failing to discharge their duties and functions" in ensuring that Swiss-Asia Financial Services complied with MAS' AML/CFT requirements.The central bank said in a statement that recent data has shown that while inflation is easing, it has slowed more than previously expected, adding that it"remains high.
"The only rise in volumes over the past 18 months was the December quarter last year as extensive discounting from Black Friday sales boosted volumes," Dorber added.Japan's service sector activity expanded in April at its fastest pace since August, according to final figures from S&P Global.
He also denied to comment when asked for official confirmation that Japanese authorities had intervened in the currency. While Chinese consumers' spending intentions for the ongoing quarter shows that they plan to spend more money on luxury, the investment bank's analysts"remain cautious about the possibility of seeing improving trends."