Oil prices stabilized on Thursday (February 12th), as the market reassigned a risk premium to US-Iran tensions despite US inventory data showing swelling domestic supplies. This movement confirms one thing: geopolitical headlines are still more "noise" than signals of a short-term surplus. As of 3:50 PM WIB, Brent was at $69.60/barrel (+0.29%) and WTI was at $64.83/barrel (+0.31%). The gains were moderate, but enough to keep prices near the psychological $70 level for Brent. From a geopolitical perspective, market focus is on the potential for escalation in the Middle East. Recent reports...
Stocks fell on Thursday as investors digested President Donald Trump's latest tariff threats while they pored over new U.S. inflation figures. The Dow Jones Industrial Average fell 254 points, or 0.6%. The S&P 500 fell 0.7%, and the Nasdaq Composite dropped 1.2%. Trump used his Truth Social platform to threaten a 200% tariff on all alcohol products coming from countries in the European Union in retaliation for the bloc's 50% tariff on whiskey. "This would be great for the Wine and Champagne business in the U.S.," he wrote. Concerns over U.S. trade policy have hurt stocks this...
Hong Kong stocks plunged for a fifth straight day on Thursday (March 13), as investor sentiment remained gloomy amid fears of a looming global trade war. The Hang Seng Index fell 0.58%, or 137.66 points, to 23,462.65. The Hang Seng China Enterprises Index also fell 0.48%, or 41.52 points, to 8,640.61. Trade tensions remained high after the Trump-led US administration said it would respond to the EU's retaliatory measures against the US's 25% steel and aluminium tariffs, SCMP reported on Thursday. The US economic policy, which has introduced a number of new tariffs since Donald Trump took...
The Hang Seng slumped 138 points, or 0.6%, to close at 23,463 on Thursday (3/13), extending losses for a second session amid a broad-based rout. The tech index fell 1.7%, dragged down by Semicon Manufacturing (-4.9%), Meituan (-2.2%), and Alibaba Hlds. (-2.5%). Sentiment weakened as the Trump administration raised trade barriers, prompting retaliation from the EU and Canada. China also vowed to take all necessary steps to protect its interests. Consumer and property stocks fell sharply, as doubts grew over China's ability to meet its 5% GDP growth target for 2025, unchanged from 2024,...
European markets are expected to open in mixed territory on Thursday, falling lower as President Donald Trump's tariffs disrupt global trade relations. The U.K.'s FTSE 100 is expected to open 8 points higher at 8,537, Germany's DAX is down 47 points at 22,611, France's CAC is down 2 points at 7,983 and Italy's FTSE MIB is down 32 points at 38,230, according to data from IG. Investors in Europe will be watching earnings from Hugo Boss, Hannover Re and Deliveroo, with no major data releases due later in the day. Thursday marks the second and final day of CNBC's CONVERGE LIVE event in...
Japan stocks were lower after the close on Thursday, as losses in the Shipbuilding, Manufacturing and Services sectors led shares lower. At the close in Tokyo, the Nikkei 225 declined 0.03%. The best performers of the session on the Nikkei 225 were Japan Steel Works Ltd (TYO:5631), which rose 6.15% or 344.00 points to trade at 5,933.00 at the close. Meanwhile, Advantest Corp. (TYO:6857) added 3.67% or 277.00 points to end at 7,830.00 and Denka Co Ltd (TYO:4061) was up 3.60% or 77.00 points to 2,213.00 in late trade. The worst performers of the session were Taiyo Yuden Co., Ltd....
The benchmark Hang Seng Index heads for the longest losing streak in two months amid tit-for-tat tariffs and countermeasures Hong Kong stocks fell for the fifth straight day on Thursday, marking the longest losing streak in two months, as investors worried about the global economy amid escalating trade-war risks. The Hang Seng Index declined 0.1 per cent to 23,572.63 as of 10.45am local time, adding to a loss of 3.2 per cent since March 6. The Tech Index retreated 1 per cent. On the mainland, the CSI 300 Index was little changed, while the Shanghai Composite Index lost 0.2 per...
The Nikkei 225 Index surged 1.2% to surpass 37,200, while the broader Topix Index gained 1% to 2,720 on Thursday, reaching their highest levels in a week. The rally mirrored Wall Street's rebound, driven by softer-than-expected US inflation data that eased market concerns about the economy. However, investor sentiment remained cautious as US President Donald Trump's steel and aluminum tariffs took effect on Wednesday, raising fears of a widening global trade war. In Japan, major firms agreed to significant wage hikes for the third consecutive year during annual spring labor negotiations,...
Asia-Pacific markets are primed to rise on Thursday after a soft inflation report in the U.S. helped two of the three benchmarks on Wall Street reverse course from two days of losses. The consumer price index — a broad-based measure of costs across the U.S. economy — increased 0.2% month-on-month in February, putting the annual inflation rate at 2.8%. Australia's S&P/ASX 20 started the day 0.20% higher, reversing course from losses in the previous two sessions. Over in Japan, the benchmark Nikkei 225 is set to open higher, with the futures contract in Chicago at 37,035 while its...
Gold rises in the early Asian trade. There's a broad commodities uptrend, driven by macro uncertainty, a weaker dollar, and persistent demand for "hard" assets, says Fawad Razaqzada, market analyst...
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....