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...
Japanese stocks started the week on a positive note but quickly gave up most of their early gains as investors assessed the impact of the Bank of Japan's latest monetary policy decision. On Friday, the BOJ raised interest rates by 25 basis points to 0.5%, marking the highest short-term borrowing costs in 16 years. The central bank also projected inflation to reach its 2% target in the second half of its forecast period, suggesting the possibility of more rate hikes ahead. Investor sentiment soured further following news that US President Donald Trump had imposed tariffs and sanctions on...
The Hang Seng Index jumped 366 points, or 1.9%, to close at 20,066 on Friday, ending a two-day decline. The recovery followed a recent "cordial" conversation between U.S. President Trump and Chinese leader Xi Jinping, in which Trump expressed hope for a trade deal with China. The index jumped 2.5% for the week, marking its second straight gain after Chinese regulators urged insurers and mutual funds to buy more stocks to spur a rapid recovery in mainland stocks. A record close on Thursday in the S&P 500 also lifted sentiment, with Trump expecting lower interest rates as the Fed meets...
The Nikkei 225 index fell 0.07% to close at 39,932, while the broader Topix index fell 0.03% to 2,751 on Friday, ending a four-day winning streak after the Bank of Japan raised interest rates by 25 basis points to 0.5%, in line with expectations. The rate hike brought short-term borrowing costs to a 16-year high. The central bank also projected that inflation would hit its 2% target in the second half of its forecast period, signaling the possibility of further rate hikes. On the economic front, Japan's core inflation rate jumped to a 16-month high of 3% in December, strengthening the...
Hong Kong stocks jumped 336 points, or 1.7%, to 20,041 in early trade on Friday, snapping losses from the previous two sessions amid solid gains across sectors. For the week, the Hang Seng is on track for a second straight gain, up nearly 2.5% so far, boosted by Beijing's initiative to encourage insurers to buy more mainland-listed shares. The plan is expected to inject at least hundreds of billions of yuan in new capital each year from state-owned insurers. It also involves guiding mutual fund managers to increase the equity funds under their management. Overnight on Wall Street, the...
The Shanghai Composite rose 0.4% to top 3,240, while the Shenzhen Component rose 0.7% to 10,250 on Friday (24/1), extending gains from the previous session as Beijing unveiled new measures to boost stock market investment. China's top financial regulator urged medium- and long-term funds, such as insurance, pension, national social security and annuity funds, to increase their equity investments. Meanwhile, the People's Bank of China kept the interest rate on its one-year medium-term lending facility unchanged at 2% during its January decision. Chinese stocks have come under pressure...
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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