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...
European equity markets were poised to open little changed on Thursday as investors awaited the European Central Bank's latest monetary policy decision. The ECB is widely expected to implement another 25 basis point rate cut, with traders also focusing on its quarterly growth and inflation projections. The Swiss National Bank is also anticipated to announce another rate cut. Meanwhile, the latest US inflation data came in line with expectations, setting the stage for the Federal Reserve to reduce borrowing costs further next week. In premarket trade, Euro Stoxx 50 and Stoxx 600 futures...
Hong Kong stocks rose 61 points, or 0.3%, to 20,214 in early trade on Thursday, snapping losses from the previous two sessions. The gains followed the Nasdaq's overnight rise to a record high, with soft U.S. inflation in November strengthening bets for a Fed rate cut later this month. Meanwhile, U.S. President-elect Donald Trump has invited Chinese President Xi Jinping to attend his inauguration in Washington next month, CBS News said. Traders were keeping an eye on China's two-day Central Economic Work Conference that is expected to set policy for next year, following a stimulus signal from...
Asia-Pacific opened higher Wednesday, following gains on Wall Street that saw the Nasdaq Composite surge to record highs after November's inflation report met expectations. Traders in Asia assessed jobs data from Australia, which showed the country's unemployment rate dropped to 3.9% in November from 4.1% the month prior. A poll of economists from Reuters had expected the rate to rise to 4.2%. Australia's S&P/ASX 200 was trading 0.1% higher. Japan's Nikkei 225 climbed 1.7% at market open, while the Topix gained 1.3%. South Korea's Kospi index opened up 1%, while the small-cap Kosdaq...
The Nikkei 225 index edged up 0.01% to close at 39,372 on Wednesday, ending almost flat after weak signals from Wall Street overnight, as investors braced for a key US inflation report. Market sentiment was also affected by mixed economic data from Japan. The Reuters Tankan index turned negative in December, while the BSI manufacturing sentiment reading showed improvement in the fourth quarter. Additionally, data revealed that Japanese producer prices rose at the fastest pace in 16 months in November. Notable performers were index heavyweights Kawasaki Heavy (+10.3%), IHI Corp (6.3%) and...
The S&P 500 gained 0.9% on Wednesday, moving closer to its all-time highs, while the Nasdaq 100 surged 1.7%, reaching a new record. This rally followed November's inflation report, which aligned with economists' expectations and bolstered hopes for a likely Federal Reserve rate cut at its upcoming meeting. However, the Dow Jones lost 104 points, weighed down by a 5.6% slide in UnitedHealth shares. Tech stocks spearheaded the rally, pushing the sector's year-to-date gains beyond 24%, with significant contributions from communication services and consumer discretionary stocks. The...
Stocks in Europe closed higher Wednesday, with the STOXX 50 adding 0.2% and the STOXX 600 rising 0.3%, after inflation in the US came in line with expectations, reinforcing bets the Fed will deliver another 25bps rate cut in the fed funds rate next week. In addition, traders await the ECB monetary policy decision tomorrow, expecting a fourth rate cut and clues on next year's rate policy. Meanwhile, a batch of corporate updates prevented further gains. Inditex shares tumbled 6.5% following weaker-than-expected third-quarter sales results. SAP was also under pressure, falling about 0.6%. In...
The Hang Seng Index fell for the second day, dropping 0.8%, or 156.23 to 20,155.05 in Hong Kong. Meituan contributed the most to the index decline, decreasing 2.8%. Hang Lung Properties Ltd. had the largest drop, falling 3.7%. Today, 55 of 83 shares fell, while 26 rose; 3 of 4 sectors were lower, led by commerce and industry stocks. Source : Bloomberg
The Nikkei 225 index edged up 0.01% to close at 39,372 on Wednesday, ending almost flat after weak signals from Wall Street overnight, as investors braced for a key U.S. inflation report. Market sentiment was also affected by mixed economic data from Japan. The Reuters Tankan index turned negative in December, while the BSI manufacturing sentiment reading showed improvement in the fourth quarter. Additionally, data revealed that Japanese producer prices rose at the fastest pace in 16 months in November. Notable performances were seen by index heavyweights Kawasaki Heavy (+10.3%), IHI Corp...
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....