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 climbed 226 points or 0.9% to end at 24,733 on Monday, snapping a four-session dip as all sectors gained. Traders looked ahead to developments on the U.S.-China trade truce, set to expire on August 12. Meanwhile, U.S. Treasury Secretary Bessent said Washington is optimistic about reaching a deal with China, following recent trade talks in Stockholm. Separately, China's top leaders pledged to support the economy and rein in "disorderly competition" during last week's Politburo meeting. Beijing also confirmed its fourth plenum will be held in October, likely focusing on the next...
European stock markets opened positively this week, with the Euro Stoxx 50 up 0.6% and the broader Stoxx 600 up 0.2%. This rebound follows a sharp selloff last week, when both indexes fell more than 3% amid concerns about the resilience of the US economy, fueled by unexpectedly weak employment data and renewed global growth concerns after President Trump announced new tariffs. Adding to the uncertainty, Trump's firing of the head of the Bank of England has raised concerns about the credibility of upcoming economic data. Looking ahead, investor attention will turn to several key events this...
Japanese stocks weakened after the close on Monday (August 4th), as weakness in the Paper & Pulp, Transportation, and Communications sectors led to declines. At the close of trading in Tokyo, the Nikkei 225 fell 1.22%. The best-performing stocks on the Nikkei 225 were Nintendo Co Ltd (TYO:7974), which rose 5.12%, or 645.00 points, to trade at 13,240.00. Meanwhile, Sumitomo Chemical Co., Ltd. (TYO:4005) rose 4.58%, or 16.80 points, to close at 383.80, and Hoya Corp (TYO:7741) rose 3.23%, or 565.00 points, to close at 18,065.00. The worst-performing stocks during the session were Yamaha...
Hong Kong stocks rose 98 points, or 0.4%, to 24,607 in early trading on Monday, ending a four-day losing streak amid gains led by the property and technology sectors. Sentiment improved after China's top leaders pledged to support the economy and tackle "irregular competition" at last week's Politburo meeting. Beijing also confirmed plans to hold its fourth plenary session in October, which will likely focus on the next five-year plan. A modest rebound in US stock futures added support, following Wall Street's sharp decline on Friday due to weak employment data. On tariffs, US Treasury...
The Nikkei 225 fell 2% to below 40,000 and the broader Topix index fell 1.8% to 2,895 on Monday (August 4), with both indexes hitting near two-week lows as Japanese stocks followed Wall Street's sharp decline. The sell-off followed US President Donald Trump's massive retaliatory tariffs of 10% to 41% on several trading partners, alongside a weaker-than-expected US jobs report that deepened economic concerns. Domestically, investors awaited the minutes of the Bank of Japan's latest policy meeting for clues on the timing of its next interest rate hike. Technology stocks led the decline, with...
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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