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 shares jumped 450 points or 1.9% to 24,597 on Tuesday morning deals, marking the second session of strong gains as all sectors advanced. The Hang Seng Tech Index climbed 2.8%, with investors focusing on upcoming tech earnings, including Xiaomi Corp. later today. WuXi AppTec Co. surged near 9% to a 14-month top after announcing a cash dividend and share buyback plan. EV maker BYD Co. soared 2.5%, on plans to roll out new super-charging tech across China. Consumers, financials, and property also logged strong gains, buoyed by a "special action plan" from Beijing to spur domestic...
The Nikkei 225 Index rallied 1.3% to around 37,900 while the broader Topix Index jumped 1.2% to 2,780 on Tuesday, extending recent gains and tracking Wall Street higher as US retail sales data eased recession concerns. Japanese stocks also benefited from a weaker yen, which enhances the profit outlook for the country's export-driven industries and makes local assets more attractive to foreign investors. Meanwhile, investors are focused on the upcoming Bank of Japan policy decision this week, with expectations that the central bank will hold interest rates steady at 0.5% when its meeting...
Asia-Pacific markets rose on Tuesday, tracking gains on Wall Street, which ticked up after U.S. retail sales data appeared to ease recession concerns. Investors will be keeping a close watch on Japanese markets, as the Bank of Japan kicks off its two-day monetary policy meeting on Tuesday. The central bank is widely expected to hold interest rates steady at 0.5% when the meeting concludes on Wednesday. The BOJ's two-day meeting coincides with the U.S. Federal Reserve, with the latter also expected to keep interest rates unchanged. Japan's benchmark Nikkei 225 started the day 1.34% higher,...
Stocks rose on Monday, building on their comeback from a four-week rout on Wall Street exacerbated by President Donald Trump's chaotic tariff policy rollout and falling consumer confidence. The S&P 500 gained 0.64% to close at 5,675.12, while the Nasdaq Composite climbed 0.31% and ended at 17,808.66. The Dow Jones Industrial Average also advanced 353.44 points, or 0.85%, to end at 41,841.63. The 30-stock index was bolstered by gains in Walmart and International Business Machines.All three of the major averages posted back-to-back gains. "We're in a near-term counter-trend rally," Sam...
The S&P 500 rose on Monday as the benchmark tries to continue its comeback from correction territory following a four-week rout on Wall Street exacerbated by President Donald Trump's chaotic tariff policy rollout and falling consumer confidence. The broad market index gained 0.2%, while the Nasdaq Composite fell 0.3%. The Dow Jones Industrial Average advanced 237 points, or 0.6%, bolstered by gains in Walmart and International Business Machines Helping sentiment was the February retail sales report, as traders breathed a sigh of relief that the figures weren't worse. Retail sales...
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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