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...
European stock markets have opened sharply lower, with the Stoxx 600 index falling 0.42% and almost all sectors in the red led by travel, down 1.5%. Global sentiment has not been improved by the latest updates on U.S. tariffs, with high duties that Washington has imposed on China expected to remain in force and with negotiations with key U.S. trading partners looking set to rumble on beyond the initial July 9 deadline. The U.K.'s FTSE 100 initially dipped after closing at a record high on Wednesday, but was last fractionally above the flatline after figures showed the British economy...
Japan stocks were lower after the close on Thursday, as losses in the Paper & Pulp, Transport and Communication sectors led shares lower. At the close in Tokyo, the Nikkei 225 lost 0.68%. The best performers of the session on the Nikkei 225 were Sumitomo Dainippon Pharma Co Ltd (TYO:4506), which rose 16.95% or 150.00 points to trade at 1,035.00 at the close. Meanwhile, Mitsubishi Heavy Industries, Ltd. (TYO:7011) added 4.88% or 160.00 points to end at 3,436.00 and Japan Steel Works Ltd (TYO:5631) was up 4.45% or 322.00 points to 7,551.00 in late trade. The worst performers of the...
US President Donald Trump says he will unveil unilateral tariff rates within two weeks Hong Kong stocks fell on Thursday, following declines in the US, as investors contended with new trade threats from Washington and uncertainty over trends in interest rates. The Hang Seng Index dropped 0.8 per cent to 24,176.63 at 9.55am local time, wiping out Wednesday's gains following a preliminary US-China trade agreement. The Hang Seng Tech Index dropped 1.5 per cent. On the mainland, the CSI 300 Index lost 0.2 per cent and the Shanghai Composite Index retreated 0.1 per cent. Technology stocks...
Japan's Nikkei Stock Average is down 0.1% at 38386.45 as falls in electronics stocks offset gains in bank and heavy industry shares. Kioxia Holdings is down 2.9% and Lasertec is 0.7% lower, while Resona Holdings is 1.1% higher and Kawasaki Heavy Industries is up 1.8%. The broader market index Topix is 0.1% higher at 2792.76. USD/JPY is at 144.24, down from 145.22 as of Wednesday's Tokyo stock market close. Investors are closely watching any developments related to U.S. tariffs and the war in Ukraine. Source: Dow Jones Newswires
Asia-Pacific markets traded mixed as investors assessed U.S. President Donald Trump's declaration that a trade deal with China was "done." Chinese imports would invite 55% tariffs, Trump suggested. Commerce Secretary Howard Lutnick confirmed that tariffs on China will stay at that level. Japan's benchmark Nikkei 225 was down 0.10% while the broader Topix added 0.12%. South Korea's Kospi climbed 0.34%, and the small-cap Kosdaq was little changed. Australia's S&P/ASX 200 was up 0.25%. Futures for Hong Kong's Hang Seng index last traded at 24,252, pointing to a weaker open compared to...
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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