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Most Asia Stocks Up but Tokyo Hit by Trump Worries

Tokyo tumbled more than one percent Thursday, while the dollar sank as investors were left deflated by a lack of economic detail from Donald Trump at his first post-election press conference.

Traders had hoped the real estate tycoon would flesh out some of his campaign promises such as tax cuts and infrastructure spending, but he gave very little away, fuelling uncertainty about his aspiration to boost the US economy.

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Stocks Dragged Down by Trump Comments

Stocks came off their highs on Wednesday as comments by U.S. President-elect Donald Trump  weighed on prices on early Wall Street, dragging European markets down with them.

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Trump Warns U.S. Firms Moving Jobs Offshore

President-elect Donald Trump on Wednesday attacked US companies who ship jobs offshore, singling out the pharmaceutical industry for high drug prices and for manufacturing overseas.

Trump said U.S. companies relocating production offshore are "getting away with murder" and warned their products will be hit with hefty taxes if imported into the United States.

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Mexican Peso Tumbles after Trump News Conference

Mexico's peso fell on Wednesday after U.S. President-elect Donald Trump vowed to make the country pay for a huge border wall and to tax companies that ship jobs abroad.

The Mexican currency shed 0.9 percent, trading at 22.20 pesos per dollar after hitting a historic low 22 pesos per greenback on Tuesday, according to private bank Citibanamex.

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Trump to Cede 'Complete' Control of Business to Sons

Donald Trump said Wednesday he had formally handed "complete and total" control of his business empire to his adult sons, Don Jr and Eric, in a bid to avoid conflicts of interest once he enters the White House. 

The 70-year-old Trump, who is the wealthiest man to become U.S. president, has been beset by accusations of conflict of interest ever since his electoral defeat of Democratic former secretary of state Hillary Clinton in November.

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Salameh: Lebanon Has Met International Financial Conditions

Central Bank Governor of Lebanon Riad Salameh declared on Wednesday that Lebanon has met all the international financial conditions, in terms of both the legislation and practice, the National News Agency reported.

During his participation in Iraq Banks Forum, Salameh indicated that BDL had always endeavored to maintain the best of ties with its Arab counterparts, especially with the Iraqi central bank, considering the importance of those relations in the exchange of banking techniques.

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Vietnam Arrests 7 Bankers for $21 Million Graft

Vietnamese police have arrested seven ex-bankers accused of approving illegal loans that led to $21 million in losses, state media reported Wednesday, the latest scandal to hit the country's financial sector.

Those arrested by anti-corruption police late Tuesday include former chairman Hoang Van Toan and CEO Tran Son Nam of TrustBank, the state-run Tuoi Tre newspaper said.

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Turkey Lira under New Pressure as Bank Measures Fail to Impress

Turkey's embattled lira on Wednesday took a new pounding on foreign exchange markets as emergency measures announced by the central bank failed to impress markets rattled by terror attacks and political instability.

The lira has lost almost 10 percent in value against the American dollar since the start of this year alone with President Recep Tayyip Erdogan's plan for a presidential system, currently debated by parliament, unnerving investors.

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UAE to Invest $163 Billion to Diversify Energy

The United Arab Emirates announced Tuesday plans to invest 600 billion dirhams ($163 billion) in projects to generate almost half the country's power needs from renewables.

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Egypt Inflation Quickens to Highest Level in Years

Egypt's annual inflation rate rose to 24.3 percent in December, official figures showed on Tuesday, two months after the government floated the pound sparking the biggest price hikes in years.

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