OPEC on Tuesday raised its forecast for global oil demand next year and trimmed its forecast for growth in supply from the United States and other producers outside the wider OPEC+ group, pointing to a tighter market outlook. World oil demand will rise by 1.38 million barrels per day in 2026, the Organization of the Petroleum Exporting Countries said in a monthly report, up 100,000 bpd from the previous forecast. This year's expectation was left unchanged. Oil supply from countries outside the Declaration of Cooperation - the formal name for OPEC+ - will rise by about 630,000 barrels per...
The Hang Seng closed 0.14% higher at 20,225 on Tuesday (1/28) in a half-day session ahead of the Lunar New Year celebrations. The index marked its third straight session of gains, largely supported by technology advances and consumer spending. Traders were closely following developments on Chinese startup DeepSeek's affordable AI model, as its emergence raised concerns about U.S. dominance in the tech sector. China Vanke Co. jumped 2.1% after overhauling its management, following assurances from Chinese authorities to support the troubled builder. Xiaomi Corp. ended at a record high, jumping...
Japanese stocks fell after the close on Tuesday (1/28), as losses in the Nonmetallic Minerals, Communications and Electrical/Machinery sectors led shares lower. At the close in Tokyo, the Nikkei 225 was down 1.43%. The best performers on the Nikkei 225 were Sumitomo Realty & Development Co. (TYO:8830), which rose 5.12% or 263.00 points to trade at 5,395.00 at the close. Meanwhile, Nintendo Co Ltd (TYO:7974) rose 4.67% or 457.00 points to close at 10,250.00 and Oriental Land Co Ltd (TYO:4661) gained 4.14% or 146.00 points to 3,675.00 in late trade. The worst performers on the session...
Shares in Hong Kong were little changed on Tuesday morning, hovering around 20,210 after gaining in the prior two sessions. Trading was notably sluggish, with markets set to close early as the Lunar New Year looms large. Meanwhile, US futures pulled back after a Monday sell-off on Wall Street fueled by mounting concerns over investment in the AI sector, following the emergence of Chinese startup DeepSeek. On the trade front, Hong Kong's export growth notched a 4-month high in December while imports fell for the first time in 10 months. For the week, the Hang Seng is on track to gain for...
The Nikkei 225 Index dropped 1.4% to around 39,000, while the broader Topix Index lost 0.6% to 2,740 on Tuesday, extending losses from the previous session. Chip-related stocks linked to the US AI value chain led the decline, following concerns that Chinese startup DeepSeek could challenge the dominance of US AI leaders. Local stocks also continued to be pressured by a hawkish stance from the Bank of Japan. On Friday, the central bank raised interest rates and revised its inflation forecasts higher, signaling the possibility of further rate hikes. Investors are now focused on upcoming...
The S&P 500 and Nasdaq Composite were down sharply Monday on concern about an artificial intelligence stock bubble popping because of the emergence of Chinese startup DeepSeek, which has possibly made a competitive AI model for a fraction of the billions Silicon Valley is spending. The Nasdaq Composite lost 3.07%, falling to 19,341.83, and the S&P 500 slid 1.46% to 6,012.28. The Dow Jones Industrial Averageadded 289.33 points, or 0.65%, to close at 44,713.58. Gains in Apple Johnson & Johnson and Travelers helped lift the 30-stock index. Last week, DeepSeek released R1, an...
U.S. President Donald Trump announced Monday evening on Truth Social that Israel and Iran have agreed to a "Complete and Total CEASEFIRE" following what he referred to as "THE 12 DAY...
Gold moved above $2600 on Monday during the Asian trading session. Currently, Gold is still struggling to capitalize on last week's modest recovery from a one-month low and is fluctuating.
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