Asia stocks advance ahead of Bank of England policy decision

SEOUL, South Korea — Asian stock markets were higher Thursday ahead of the Bank of England’s upcoming announcement of its monetary policy decision.

KEEPING SCORE: After trading lower in the morning session, Japan’s Nikkei 225 finished 1.1 percent higher at 16,254.89. South Korea’s Kospi added 0.3 percent to 2,000.03 and Hong Kong’s Hang Seng index added 0.6 percent to 21,872.54. China’s Shanghai Composite Index edged up 0.1 percent to 2,982.43. Stocks in Taiwan, Singapore, Indonesia and other Southeast Asian markets were higher.

UK WATCH: Bank of England is widely expected to unveil stimulus measures including a rate cut when it announces its monetary policy decision later Thursday after Asian markets close. Some analysts also expect the bank will announce the creation of billions in new money as early indicators since the U.K. referendum to leave the European Union suggest that the economy is contracting at its sharpest rate since 2009. Analysts expected increased volatility in the foreign exchange market ahead of the decision.

ANALYST’S TAKE: “The question is, not so much, if the BoE will ease policy, but rather how the BoE will choose to deliver policy easing,” Mizuho Bank wrote in a daily commentary. If the bank’s decision falls short of market expectations, “there is a risk of markets being disappointed.”

WALL STREET: U.S. stocks edged higher on Wednesday as the big gains in the price of oil boosted energy companies. The Dow Jones industrial average broke a seven-day losing streak and added 0.2 percent to 18,355. The Standard & Poor’s 500 index gained 0.3 percent to 2,163.79. The Nasdaq composite rose 0.4 percent to 5,159.74.

OIL: Benchmark U.S. crude stayed flat at $40.83 per barrel in New York. The contract jumped $1.32, or 3.3 percent, to close at $40.83 on Wednesday after the U.S. government said stockpiles of gasoline shrank by more than 3 million barrels last week. Brent crude, which is used to price international oils, dropped 21 cents to $42.89 a barrel in London.

CURRENCIES: The dollar strengthened to 101.36 yen from 101.28 yen while the euro fell to $1.1134 from $1.1148.

source: business.inquirer.net

5 low-cost travel destinations

Who doesn’t want an affordable vacation?  Each year, more and more travelers are looking for places that give them a lot more bang for their buck. Finding places where your well-earned dollars are worth a lot more can really make your vacation truly more enjoyable and exciting.

Here are five countries where a dollar equates to a whole lot more when converted to the local currency:

Indonesia

Dollar exchange rate: USD 1.00 = IDR 13,201.11

A whopping exchange rate means that you really get a whole lot more for your hard-earned cash. From safaris to exotic accommodations and even fine dining at a relaxing rice paddy field, there’s a whole lot of fun experiences you can have with this much moolah.

Cambodia

Dollar exchange rate: USD 1.00 = KHR 4,008.02

Cambodia is a great place to get a lot bang for the money you earn. One dollar can net you enjoyable rides to the many Wat temples and sample a wide variety of the local cuisine and so much more. It’s a great place for sightseeing a lot of history.

South Korea

Dollar exchange rate: USD 1.00 = IDR 1,150.46

Who hasn’t wanted to experience the exciting atmosphere of trendy South Korea? Your dollars are worth a lot more in the country, from enjoying the spicy dishes to buying hip clothes and make-up. Make sure to pack some extra bags to carry your haul when flying back home.

Japan

Dollar exchange rate: USD 1.00 = JPY 108.23

With this great exchange rate, you can now enjoy both the quirky and calm sides of Japan without spending so much. Explore the cultural landscape of modern Japan, from the youthful streets of Shibuya to the electronic paradise that is Akihabara. You’ll be able to encounter many fun and amazing activities when you have the right amount of money in your pocket.

Philippines

Dollar exchange rate: USD 1.00 = PHP 46.15

This exchange rate opens your world to a multitude of fun beaches, exciting island-hopping adventures and a lot more. It’s the perfect escape for people who are looking for an affordable adventure in a tropical land without having to spend too much to enjoy themselves.

Have these dollar exchange rates made you feel like taking your very own inexpensive vacation? Take the time to indulge yourself in low-cost travel to these lands where you will definitely get a whole lot more for your hard-earned money.

Mango Tours is a provider of quality, affordable and convenient travel services that include low-priced airline tickets, customized Philippine and International Tour Packages, Cruises, Land Transfers, and more. Visit www.mangotours.com to know more about its latest promos and travel offers

source: lifestyle.inquirer.net