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Nikkei nosedives more than 500 points on plunges in global stocks

TOKYO, Japan - The bulletin board of a brokerage in Tokyo shows the Nikkei index plunged 590.89 points as Tokyo stocks nosedived on Feb. 28 in tandem with a general fall in world stocks following a sell-off in the Shanghai stock market the previous day. The 225-issue Nikkei Stock Average shed more than 700 points at one point, more than the loss registered immediately after the Sept. 11, 2001 attacks on the United States, and closed 515.80 points, or 2.85 percent, lower at 17,604.12.

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AUSTRALIA-SYDNEY-CASH RATE-LIFT

(221101) -- SYDNEY, Nov. 1, 2022 (Xinhua) -- This photo taken on Nov. 1, 2022 shows a branch of St. George Bank in Sydney, Australia. Australia's central bank announced on Tuesday a back-to-back interest rate hike for seven months in a row, by 25 basis points to 2.85 percent in a bid to rein in the country's "too high" inflation. (Xinhua/Bai Xuefei)

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AUSTRALIA-SYDNEY-CASH RATE-LIFT

(221101) -- SYDNEY, Nov. 1, 2022 (Xinhua) -- This photo taken on Nov. 1, 2022 shows a branch of National Australia Bank in Sydney, Australia. Australia's central bank announced on Tuesday a back-to-back interest rate hike for seven months in a row, by 25 basis points to 2.85 percent in a bid to rein in the country's "too high" inflation. (Xinhua/Bai Xuefei)

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AUSTRALIA-SYDNEY-CASH RATE-LIFT

(221101) -- SYDNEY, Nov. 1, 2022 (Xinhua) -- This photo taken on Nov. 1, 2022 shows the Reserve Bank of Australia in Sydney, Australia. Australia's central bank announced on Tuesday a back-to-back interest rate hike for seven months in a row, by 25 basis points to 2.85 percent in a bid to rein in the country's "too high" inflation. (Xinhua/Bai Xuefei)

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AUSTRALIA-SYDNEY-CASH RATE-LIFT

(221101) -- SYDNEY, Nov. 1, 2022 (Xinhua) -- This photo taken on Nov. 1, 2022 shows the Reserve Bank of Australia in Sydney, Australia. Australia's central bank announced on Tuesday a back-to-back interest rate hike for seven months in a row, by 25 basis points to 2.85 percent in a bid to rein in the country's "too high" inflation. (Xinhua/Bai Xuefei)

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Australia lifts cash rate to 2.85 pct amid 32-year-high inflation

STORY: Australia lifts cash rate to 2.85 pct amid 32-year-high inflation DATELINE: Nov. 2, 2022 LENGTH: 00:00:57 LOCATION: SYDNEY, Australia CATEGORY: ECONOMY SHOTLIST: 1. shot of the Sydney Opera House 2. shot of the street 3. shot of the Reserve Bank of Australia 4. various of the Exchange Square 5. various of banks and people in Sydney STORYLINE: Australia's central bank announced on Tuesday a back-to-back interest rate hike for seven months in a row, by 25 basis points to 2.85 percent in a bid to rein in the country's "too high" inflation. Philip Lowe, governor of the Reserve Bank of Australia, noted in a statement that over the year to September, the CPI inflation rate of Australia was 7.3 percent, the highest it has been in more than three decades. The central bank's move to increase interest rates materially since May "has been necessary to establish a more sustainable balance of demand and supply in the Australian economy to help return inflation to target," said the governor. As a further rise

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Indonesia sets economic growth at 5.3 percent, inflation at 3.3 percent in 2023

STORY: Indonesia sets economic growth at 5.3 percent, inflation at 3.3 percent in 2023 DATELINE: Aug. 17, 2022 LENGTH: 00:03:03 LOCATION: Jakarta CATEGORY: ECONOMY SHOTLIST: (Courtesy of BPMI) 1. group shots of parliament 2. group shots of speech 3. SOUNDBITE (Bahasa Indonesia): JOKO WIDODO, Indonesian President STORYLINE: Indonesia has set its economic growth target at 5.3 percent and inflation rate at 3.3 percent next year, said President Joko Widodo on Tuesday. The growth figure is based on economic dynamics, the development agenda, and future challenges, Widodo added. SOUNDBITE (Bahasa Indonesia): JOKO WIDODO, Indonesian President "By scrutinizing state expenditure and optimizing state revenue, the 2023 budget deficit is set at 2.85 percent of the GDP or 40.5 billion USD. The 2023 budget deficit is the first year we return to the deficit of a maximum of 3 percent of the GDP." "We will try our best to maintain the sustainability of strengthening the national economy," Widodo said at an annual meet

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A glimpse of China's economic performance in Q1

STORY: A glimpse of China's economic performance in Q1 DATELINE: April 18, 2022 LENGTH: 00:01:02 LOCATION: Beijing CATEGORY: ECONOMY SHOTLIST: 1. various of views of China STORYLINE: China's economy got off to a steady start in the first quarter of 2022 despite an increasingly complex international environment and resurgences of COVID-19 cases at home. The country's gross domestic product grew 4.8 percent year on year to 27.02 trillion yuan (about 4.24 trillion U.S. dollars) in the first three months, picking up pace from a 4-percent increase in the fourth quarter last year, data from the National Bureau of Statistics (NBS) showed Monday. A breakdown of Monday's data shows that value-added industrial output posted a stable 6.5-percent increase from a year ago in the first quarter, and fixed-asset investment jumped 9.3 percent. Retail sales of consumer goods went up 3.3 percent. The surveyed urban unemployment rate stood at 5.5 percent in January-March, with 2.85 million new urban jobs created in this pe

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Nikkei nosedives more than 500 points on plunges in global stock

TOKYO, Japan - The bulletin board of a brokerage in Tokyo shows the Nikkei index plunged 590.89 points as Tokyo stocks nosedived on Feb. 28 in tandem with a general fall in world stocks following a sell-off in the Shanghai stock market the previous day. The 225-issue Nikkei Stock Average shed more than 700 points at one point, more than the loss registered immediately after the Sept. 11, 2001 attacks on the United States, and closed 515.80 points, or 2.85 percent, lower at 17,604.12. (Kyodo)