Oil headed for the biggest weekly loss since late June as traders positioned for a key OPEC+ decision on supply this weekend. Brent futures edged marginally higher on Friday, but were still trading below $65 a barrel and set for a weekly slump of about 8%. Prices have declined the past four days on the expectation OPEC+ will discuss fast-tracking more supply hikes. Meanwhile, efforts by the Trump administration to keep oil exports flowing from northern Iraq, as well as a US government shutdown, have added to the bearish sentiment. The OPEC+ meeting comes as...
Japanese stocks rose to end six days of declines as automakers and semiconductor-related names gained on a weaker yen. Banks also pushed the market higher as traders weighed the prospect of higher interest rates. The Topix index was up 0.9% at 2,726.74 by the close. The Nikkei gained 1.2% to 39,161.34. Toyota Motor contributed the most to the Topix's gains, rising 2.4%, while peer Honda Motor also advanced. Honda and Nissan Motor are looking to complete a merger agreement as early as June after negotiations began on Monday, and could merge by 2026, Japanese media reported, citing unnamed...
Shares in Hong Kong rose by 62 points or 0.3% to 19,783 during the Monday morning session, breaking a two-session losing streak amid strength mainly from the financials and property sectors. A solid rise in US futures uplifted sentiment after Washington avoided a year-end shutdown on Saturday and kicked off future spending decisions into Donald Trump's presidency. Locally, the city's annual inflation remained at 1.4% in November, unchanged for the second consecutive month and at its lowest level since May. The government indicated that overall inflation is expected to remain mild in the...
The Nikkei 225 rose 281 points, or 0.7%, to 38,976 in early trade on Monday, bouncing back from the previous session's losses amid a significant rise in U.S. futures as weaker U.S. inflation data revived hopes for potential policy easing next year. The broader Topix index rose 15 points, or about 0.6%, reversing losses in the previous session, buoyed by relief that Washington managed to avoid a government shutdown. At home, the Bank of Japan last week kept its key short-term interest rate at around 0.25%, in line with market expectations, as the central bank needed more time to assess...
Asian stocks rose after the Federal Reserve's preferred inflation gauge came in below expectations, rekindling bets of a rate cut. The dollar was steady. The MSCI Asia Pacific Index snapped a six-day slide, with indexes in Australia, Japan and South Korea up about 0.5%. Futures in Hong Kong pointed to gains. U.S. equity contracts rose after the S&P 500 Index rose 1.1% on Friday, as personal consumption spending rose at its slowest pace since May. Monday's gains will provide some relief to global markets after stocks suffered their worst weekly decline in more than three months as a...
The Hang Seng Index fell for a second day, down 0.2%, or 31.81, to 19,720.70 in Hong Kong. Alibaba Group Holding Ltd. contributed the most to the index's decline, dropping 3.4%. Kuaishou Technology was the biggest decliner, down 5.4%. For the day, 48 of 83 stocks fell, while 29 rose; three of four sectors fell, led by financials. Source: Bloomberg
European markets opened lower on Friday as investors monitored political turmoil in the US and monetary policy decisions from major economies. The United States was plunged into fresh political uncertainty late Thursday, after the failure of a Trump-backed spending bill that would have averted a government shutdown. Dozens of Republican lawmakers voted against a deal to fund the government for three months and suspend the US debt ceiling for two years, meaning a partial government shutdown will begin on Friday night. Elsewhere, China kept its key interest rate steady on Friday, in line...
The Nikkei 225 Index dropped 0.29% to close at 38,702, while the broader Topix Index fell 0.44% to 2,702 on Friday, marking the sixth consecutive session of losses as investors reacted to stronger-than-expected inflation data. Japan's headline inflation rate rose to a three-month high of 2.9% in November, up from 2.3% in October, while the core inflation rate increased to 2.7%, surpassing market expectations of 2.6%. These figures support a hawkish outlook for Bank of Japan (BOJ) monetary policy. However, the BOJ chose to keep rates unchanged at its December meeting, citing the need to...
Japanese shares are rising slightly on Friday as the yen's weakening on dovish signals from the Bank of Japan supported export-related sectors such as automakers, steel producers and shippers. The Topix Index rose 0.2% to 2,719.63 as of 9:30 a.m. Tokyo time The Nikkei advanced 0.2% to 38,880.21 Toyota Motor Corp. contributed the most to the Topix Index's gain, increasing 2.8%. Out of 2,126 stocks in the index, 1,195 rose and 775 fell, while 156 were unchanged. With key domestic and overseas monetary policy events out of the way, domestic demand-linked...
Gold (XAU/USD) is extending its decline on Wednesday for a second consecutive day as the US Dollar (USD) and US Treasury yields firm ahead of the release of the Federal Open Market Committee (FOMC)...
Oil extended declines after OPEC+ agreed to a bigger-than-expected production increase next month, raising concerns about oversupply just as US tariffs fan fears about the demand outlook.
Brent...
The Japanese Yen (JPY) weakened against its US counterpart and reversed part of Friday's recovery from the lowest level since July 23 following Bank of Japan (BOJ) Governor Kazuo Ueda's remarks....