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 opened slightly higher in early trade on Friday as a volatile week for shares nears its end and concerns about a trade war between the U.S. and China persist. The pan-European Stoxx 600 opened up 0.4%, with the U.K.'s FTSE 100 inching up by 0.5%, while Germany's Dax and France's CAC 40 were higher by 0.4% at 8.10 am London time. All sectors of the stock market, except energy, were trading in positive territory. It has been a choppy week for European, and global, markets as investors have been reacting to the frequent developments in global trade policy that were set...
(Hong Kong) The Hang Seng Index started weak, down by 124 points or 0.6%, standing at 20,557 points. Concurrently, the mainland enterprises index dropped by 30 points or 0.39%, reaching 7,638 points, while the technology index saw a decline of 25 points or 0.53%, settling at 4,787 points. Tech stocks faced a downturn with Tencent falling by 1%, Alibaba by 1.7%, Meituan by 0.3%, Xiaomi Group by 0.7%, and Kuaishou by 0.4%.In the financial sector, there was a softness observed with HSBC Holdings declining by 2.1%, Prudential by 1.3%, China Ping An by 1.5%, and Hong Kong Exchanges by 0.2%. The...
Japanese stocks tumbled on Friday, tracking sharp losses on Wall Street as trade tensions between the U.S. and China reignited market volatility. The Nikkei 225 plunged 5% to fall below 33,000, while the broader Topix Index sank 4.7% to 2,420, erasing much of the previous session's gains. The downturn followed confirmation from the White House that cumulative tariffs on Chinese imports have climbed to 145%, deepening fears of a prolonged trade war. Uncertainty also lingers around the outcome of ongoing negotiations, despite President Trump's 90-day tariff reprieve meant to create space for...
Markets in Asia tumbled during morning trading Friday, a day after U.S. markets retreated in the wake of a White House announcement saying tariffs on Chinese exports to the United States would rise to 145 percent, up from 125 percent. Japan's Nikkei 225 and Topix indexes dropped by more than 4 percent. South Korea's Kospi and Australia's ASX 200 fell by almost 2 percent, while Taiwan's bourse kicked off the day with a fall of under 1 percent before logging a tiny gain of under 0.5 percent. Hong Kong's Hang Seng Index and China's Shanghai composite index netted losses of under 1 percent in...
U.S. stocks plunged on Thursday, reversing some of the previous day's historic rally as fresh concerns over escalating trade tensions between the U.S. and China rattled investor confidence. President Trump's announcement of a 90-day tariff pause for some countries had sparked optimism, but confirmation that total tariffs on Chinese goods had jumped to 145% reignited market concerns. The S&P 500 and Nasdaq fell 3.5% and 4.3%, respectively, while the Dow plunged 1,015 points. Tech giants such as Apple (-4.2%), Tesla (-7.3%), Nvidia (-5.9%), and MetaTrader (-6.7%) led the losses, as...
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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