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 closed almost flat at 23,202 on Wednesday, following modest gains in the prior session, as strength in tech and financials were offset by weakness in property and consumers. Traders awaited President Trump's announcement on new reciprocal tariffs later today. The new duties are set to take effect immediately, the White House said, while a separate 25% tariff on auto imports will be enforced from April 3. On the geopolitical front, China conducted a second day of military drills around Taiwan on Wednesday, rattling market sentiment. At the same time, upbeat manufacturing data...
European markets opened lower Wednesday as global traders brace themselves for a raft of fresh trade tariffs due to be announced by U.S. President Donald Trump's administration. After rebounding Tuesday, the regional Stoxx 600 index was back in the red early Wednesday, down 0.23% shortly after the open. Most sectors notched declines, though travel and oil and gas stocks posted slight gains. Investors are concerned that the White House could be erring toward more punitive import duties after Trump said earlier this week that his "reciprocal tariffs" plan will target "all countries" when...
The Nikkei 225 fell 0.3% to around 35,520, while the broader Topix Index dropped 0.9% to 2,637 on Wednesday, extending this week's selloff as investors geared up for the implementation of US President Donald Trump's reciprocal tariffs. Trump is also set to impose levies on car imports, affecting a key export industry in Japan. Data earlier this week showed that business sentiment in Japan weakened for the first quarter amid mounting concerns over the potential effects of US tariffs on Japan's export-driven economy. Investors now await household spending data on Friday for further economic...
Hong Kong stocks fell 52 points or 0.2% to 23,161 in early deals on Wednesday, reversing a modest gain in the previous session amid losses in most sectors. Investors took a cautious stance ahead low as US futures drifted lower. Uncertainty also grew over China's policy stimulus, raising concerns about whether it would be timely and sufficient to counter escalating trade pressures. Goldman Sachs analysts warned that China's manufacturing activity could face pressures in the coming months due to additional trade barriers. Locally, Hong Kong's retail sales plunged 15.0% yoy in February,...
Asia-Pacific markets opened slightly higher Wednesday as investors brace for U.S. President Donald Trump to roll out fresh tariffs this week. Japan's Nikkei 225 rose 0.06%, while the Topix declined 0.3%. South Korea's Kospi added 0.14% and the small-cap Kosdaq inched up 0.12%. Australia's S&P/ASX 200 traded 0.63% higher. Hong Kong's Hang Seng index futures last traded at 23,150, lower than the HSI's Tuesday close of 23,206.64. U.S. stock futures moved higher as Wall Street awaits the expected rollout of President Donald Trump's tariffs on Wednesday. Overnight in the U.S., the three...
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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