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 S&P 500 inched higher Wednesday, as traders looked for a market bottom after days of volatility, even as China and the European Union announced retaliatory tariffs on U.S. goods in the latest escalation of global trade tensions. The S&P 500 added 0.7%, while the Nasdaq Composite climbed 1.5%. The Dow Jones Industrial Average inched up 182 points, or 0.5%. China announced it will impose an 84% levy on U.S. goods starting Thursday. This comes after U.S. tariffs of 104% on Chinese imports took effect shortly after midnight. The EU also approved its first set of tariffs on the U.S....
The Hang Seng rose 137 points or 0.7% to close at 20,264 on Wednesday, snapping a two-day losing streak. The rebound came after early-session losses, driven by gains in tech, consumers, and property. Sentiment improved following Premier Li Qiang's remarks that Beijing is "fully capable of hedging against adverse external influences," including the newly imposed 104% U.S. import tariffs. A rally in mainland stocks also lifted the mood, as state-owned firms stepped in to support markets. Top Chinese brokerages pledged to stabilize share prices, and some listed companies launched stock buyback...
European stocks opened lower on Wednesday, with markets struggling to maintain the positive momentum of the previous session as the U.S.′ country-specific tariffs started taking effect. The pan-European Stoxx 600 index was 2.55% lower shortly after the opening bell, with all sectors and major bourses firmly in negative territory. Regional banking, mining and oil and gas indexes led the losses, plummeting 3%, 3.9% and 3.6% respectively. Among Europe's major indexes, the French CAC 40 crashed 2.6%, while Germany's DAX was 2.1% lower during early morning trade, and the FTSE 100 lost...
Japanese stocks fell sharply Wednesday as US tariffs officially took effect, triggering broad market losses. The Nikkei 225 dropped 3.93% to 31,714, while the Topix Index declined 3.4% to 2,349, reversing gains from the previous session and mirroring overnight losses on Wall Street. The new measures include a 24% tariff on Japanese goods and a 25% levy on auto exports to the US. President Trump confirmed Japan will send a delegation to negotiate, while Prime Minister Shigeru Ishiba said he urged Trump to reconsider the tariffs in a recent call. Financial and tech stocks led the selloff,...
The Hang Seng Index opened significantly lower this morning, down by 632 points or 3.14% settling at 19,494 points. Likewise, the National Index dropped by 232 points, or 3.13%, to stand at 7,198 points, while the Technology Index suffered a decline of 194 points, or 4.26%, now at 4,373 points. In the export sector this morning, Shenzhou International Group Holdings (2313) opened down 6.1%, while Intime Group (1382) remained flat at the opening. Crystal International Group (2232) saw a decrease of 5.6%. The shipping and port stocks also faced a downturn; China Merchants Port Holdings (0144)...
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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