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...
Hong Kong stocks lost 283 points or 1.2 to 23,929 in Friday morning trade, marking their second straight session of decline as all sectors retreated. Sentiment remained weak following a drop on Wall Street overnight, as traders cautiously digested the latest U.S. economic data amid concerns over President Trump's tariffs. Meanwhile, uncertainty over the timing and scale of Beijing's latest plan to boost consumption prompted investors to move away from riskier assets. Among the early laggards were CK Asset Holdings (-5.7%), KE Holdings (-3.7%), Innovent Biologics (-3.6%), and Semiconductor...
The Nikkei 225 Index gained 0.5% to surpass 37,900, while the broader Topix Index rose 0.4% to 2,807 in post-holiday trade on Friday. Japanese stocks advanced as they caught up with global market gains, following the US Federal Reserve's signal of two interest rate cuts this year. Fed Chair Jerome Powell also reassured markets that tariff-driven inflation is likely "transitory." Both the Nikkei and Topix are on track to climb over 2% and 3%, respectively, for the week. In economic data, Japan's core inflation slowed to 3% in February from 3.2% in January but still exceeded forecasts of...
Asia-Pacific markets opened mixed, as Wall Street losses and uncertainty around the U.S. economy continued to weigh on equities. Australia's S&P/ASX 200 traded 0.12% higher. Japan's Nikkei 225 rose 0.34% while the Topix added 0.27%. South Korea's Kospi slipped 0.16% while the small-cap Kosdaq dipped 0.86%. Hong Kong's Hang Seng index futures were at 24,065 also weaker than the HSI's last close of 24,219.95. Japan's headline inflation rose 3.7% year on year in February, easing from a two-year high of 4% seen in January. U.S. stock futures traded around the flatline after an attempt...
The S&P 500 ticked lower on Thursday as uncertainty around the U.S. economy continued to weigh on equities, thwarting the market's attempts at recovery from a monthlong rout. The broad market index pulled back 0.2%, while the Nasdaq Composite slid 0.3%, as Apple shares sank about 0.5%. The Dow Jones Industrial Average hovered around the flatline. Shares of Alphabet saw declines, weighing on the market. Meta Platforms and Nvidia, however, were outliers among the "Magnificent Seven" stocks, each rising almost 1%. The moves comes a day after the latest Federal Reserve meeting, at which...
European markets closed lower on Thursday, as global economic uncertainty cast a shadow over monetary policy announcements from the Bank of England, Swiss National Bank and Sweden's Riksbank. After a muted start, the regional Stoxx 600 closed 0.43% lower, snapping a four-day winning streak. Shipping giant Hapag-Lloyd posts 2024 profit decline, flags ‘challenging' environment | view postUK wage growth steady at expected 5.9% ahead of BOE decision | view postChina's central bank follows U.S. Fed in keeping rates steady as tariff threats pressure yuan | view postNorway's $1.8 trillion...
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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