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...
European markets edged higher at the open on Tuesday, as geopolitical tensions in the region boosted defense stocks. The pan-European Stoxx 600 was up around 0.18% shortly after the opening bell, with major bourses in mixed territory. Defense stocks, which hit a record high during Monday's session, continued their rally, with Renk Group gaining around 7% and German arms manufacturer up 3% in early deals. Geopolitical tensions between the U.S. and Europe are likely to remain in focus for European markets this week as U.S. officials prepare for talks with Russia to end the war in Ukraine,...
Hong Kong's stock market ended higher on Tuesday with the benchmark Hang Seng Index up 1.59 percent to close at 22,976.81 points. The Hang Seng China Enterprises Index jumped 1.82 percent to end at 8,475.40 points, and the Hang Seng Tech Index climbed 2.54 percent to close at 5,639.05 points. Source: CTX news
European futures hit record peaks on Tuesday as defence stocks soared on expectations of a spending bump, while Hong Kong shares were on the verge of three-year highs as investors cheered business leaders' meeting with President Xi Jinping. Australia's central bank began its rate cut cycle, as expected, and the Australian dollar found support at $0.6350 as a cut came with caution on further easing. S&P 500 futures were up 0.2% and European futures were up 0.1%. Japan's Nikkei rose 0.5% with bank and defence-related shares taking cues from Europe's rally. On Monday, the pan-European...
Hang Seng Index opened higher by 48 points at 22,664 before extending its rally, climbing as much as 418 points to reach an intraday high of 23,034. By late morning, the index was up 406 points, or 1.79%, at 23,022, with turnover on the main board totalling HK$1.168 billion. At 10.50am local time, the index was trading at 22,951.64, up 335.41 points or 1.48%. Technology stocks led the charge, with Tencent rising 2.3%, Alibaba surging 4.6%, Meituan gaining 1.6%, Xiaomi climbing 5.9%, JD.com up 1%, and Kuaishou advancing 4.1%. Financial stocks also supported the market's momentum, with HSBC...
Australia's central bank cuts interest rate for the first time in more than four yearsThe Reserve Bank of Australia on Tuesday cut benchmark interest rates for the first time in over four years, joining ranks with other major global central banks, as softening inflation allows room for easing policy. The RBA cut rates by 25 basis points to 4.10%. This marked the RBA's first easing since November 2020, when the central bank cut its key rate to a record low, as it battled a slowing economy during the pandemic. The central bank had held its policy rate steady at 4.35% since November 2023,...
The Hang Seng Index opened higher on Monday, gaining 48 points or 0.21% to reach 22,664. The China Enterprises Index rose by 20 points or 0.24% to 8,343, while the Technology Index climbed 19 points or 0.36% to 5,519. Technology stocks showed mixed performance. Tencent Holdings edged up 0.1%, while Alibaba fell by 0.1%. Meituan and JD.com both gained 0.7%, with Kuaishou Technology rising 0.1%. Xiaomi Corporation remained unchanged. Financial stocks exhibited varied results, with HSBC Holdings advancing 0.7%, while AIA Group and Hong Kong Exchanges and Clearing saw no movement. Ping An...
The Nikkei 225 Index gained 0.2%, surpassing 39,250, while the broader Topix Index added 0.15% to reach 2,770 on Tuesday, extending gains from the previous session as the yen halted its recent rally, easing pressure on domestic equities. On Monday, data revealed that Japan's economy grew by 0.7% quarter-on-quarter in the fourth quarter, up from 0.4% growth in the previous quarter and exceeding expectations of 0.3%. On an annualized basis, Japan's GDP expanded by 2.8% in Q4, in line with forecasts and accelerating from a 1.7% increase in Q3. However, investor sentiment remained cautious after...
Asia-Pacific markets were set to open mixed Tuesday, a day after Chinese President Xi Jinping signaled support to the country's private sector and urged businesses to "show their "talents." Australia's S&P/ASX 200 was down 0.43%, ahead of the Reserve Bank of Australia's policy decision. Reuters estimates a 25-basis-point rate cut to 4.1%. The Australian dollar had strengthened 0.05% to 635 against the dollar. Japan's benchmark Nikkei 225 started the day 0.28% higher, while the broader Topix index advanced 0.37%. South Korea's Kospi was marginally higher, while the small-cap Kosdaq...
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....