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...
Major European bourses started the week in positive territory after President Trump announced a delay in the planned 50% tariff on the European Union, extending the deadline to July 9. The move came following a phone call with European Commission President Ursula von der Leyen, who stated that "Europe is ready to advance talks swiftly and decisively," but noted that "a good deal" would require time, "until July 9. Under the reciprocal tariff framework announced in April, the EU had been facing a 20% levy, which was temporarily reduced to 10% through the new deadline. Autos, banks,...
The Hang Seng Index started the day down by 95 points or 0.4%, closing at 23,505 points. The H-share index dropped by 33 points or 0.38%, settling at 8,550 points, while the tech index fell by 16 points or 0.32%, ending at 5,229 points. In the tech sector, Tencent saw a decrease of 0.5%, Alibaba dropped by 0.2%, Meituan fell by 0.5%, Xiaomi Group by 0.7%, JD.com by 0.8%, and Kuaishou by 0.5%. MINISO's performance faced a sharp decline of 14.7% following recent news. Among financial stocks, performances varied, with HSBC Holdings declining by 0.9%, AIA Group by 0.1%, China Ping An by 0.3%,...
Asia-Pacific markets traded mixed Friday as investors assess a slew of economic data from the region. Japan's benchmark Nikkei 225 rose 0.47% to close at 37,160.47 and the Topix climbed 0.68% to close at 2,735.52. South Korea's Kospi traded flat to close at 2,592.09 while the small-cap Kosdaq was down 0.24% to end the trading day at 715.98. Australia's benchmark S&P/ASX 200 was up 0.15% to close at 8,360.9. Hong Kong's Hang Seng index and mainland China's CSI 300 traded flat. The U.S. and China agreed to maintain communication following a call between Chinese Vice Foreign Minister Ma...
The Nikkei 225 Index rose 0.5% to around 37,350 while the broader Topix Index added 0.3% to 2,744 on Monday, extending gains from the previous session as market sentiment was buoyed by US President Donald Trump's decision to delay the implementation of 50% tariffs on the EU. A retreat in the safe-haven yen also supported Japanese shares by easing currency-related pressure on exporters. Meanwhile, investors continued to monitor the Bank of Japan's policy outlook, with expectations growing that the central bank will raise interest rates further in response to persistent inflation. Industrial...
US stocks slumped on Friday after Donald Trump escalated trade tensions by threatening tariffs on Apple and the European Union. The S&P 500 fell 0.6%, the Nasdaq 100 dropped 0.9% and the Dow dropped 256 points. Apple shares plunged 3%, pushing its valuation below $3 trillion, after Trump demanded that iPhones sold in the US be made domestically or face 25% tariffs. He also proposed a 50% tariff on all EU imports starting June 1 as trade talks stalled, renewing concerns about protectionist policies. Technology stocks led the decline, with names such as Micron, Qualcomm and Nvidia...
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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