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 lost 154 points or 0.6% to close at 23,916 on Friday, marking the second straight session of losses amid broad-based sector declines. The benchmark dropped 1.5% for the week, reversing gains from the prior period as investors grew cautious ahead of U.S. President Trump's July 9 tariff deadline. Adding pressure, China's commerce ministry finalized its EU brandy investigation, imposing tariffs of up to 34.9% for five years starting July 5. Market participants also eyed key Chinese data due next week—including June CPI and PPI amid lingering deflation risks. U.S. markets were...
Europe's stock markets are in the red across the board at the open, with the regional Stoxx 600 index down 0.4%, the U.K.'s FTSE 100 down 0.32%, Germany's DAX down 0.29% and France's CAC 40 down 0.72%. French drinks sellers are taking an early hit, with Pernod Ricard down 3.3%, Remy Cointreau down 4.5% and luxury giant LVMH down 2.1%, as news breaks that China's commerce ministry has issued a final ruling on its probe into European Union brandy. The investigation ruled that the bloc has engaged in dumping of the spirit, according to a Google translation of a ministry relief. According to...
The Nikkei 225 edged up 0.06% to close at 39,811, while the broader Topix slipped 0.04% to 2,828 on Friday, with both indexes ending the session virtually flat as renewed concerns over US tariff policy dampened investor sentiment. Market caution intensified after President Donald Trump announced plans to begin issuing letters on trade matters, potentially setting unilateral tariff rates. Trump has previously threatened to raise tariffs on Japanese goods by up to 35%, citing dissatisfaction with Japan's limited imports of American rice and automobiles. On the domestic front, household...
The Hong Kong stock market experienced a low opening followed by an expanded decline. The Hang Seng Index opened down by 169 points or 0.7%, standing at 23,900 points, breaching the 24,000 mark once more. The latest data reflects a drop of 377 points or 1.57%, settling at 23,692 points. The state-owned enterprise index also saw a downturn of 129 points or 1.5%, reaching 8,518 points, while the technology index reported 5,129 points, marking a decline of 103 points or 1.98%. The main board witnessed transactions exceeding 89.7 billion Hong Kong dollars. At 10.50am, the Hang Seng Index was...
Asia-Pacific markets traded mixed Friday after Wall Street gained on a better-than-expected jobs report eased investors' concerns of a slowdown in the U.S. economy. Japan's Nikkei 225 benchmark was flat in choppy trade while the broader Topix index added 0.15%. In South Korea, the Kospi index fell 0.56% while the small-cap Kosdaq declined by 0.8%. Over in Australia, the S&P/ASX 200 moved up 0.21%. Futures for Hong Kong's Hang Seng index stood at 23,991, pointing to a lower open compared to the HSI's last close of 24,069.94. Overnight stateside, U.S. stocks rose with the broad-based...
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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