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...
The Hang Seng Index jumped 366 points, or 1.9%, to close at 20,066 on Friday, ending a two-day decline. The recovery followed a recent "cordial" conversation between U.S. President Trump and Chinese leader Xi Jinping, in which Trump expressed hope for a trade deal with China. The index jumped 2.5% for the week, marking its second straight gain after Chinese regulators urged insurers and mutual funds to buy more stocks to spur a rapid recovery in mainland stocks. A record close on Thursday in the S&P 500 also lifted sentiment, with Trump expecting lower interest rates as the Fed meets...
The Nikkei 225 index fell 0.07% to close at 39,932, while the broader Topix index fell 0.03% to 2,751 on Friday, ending a four-day winning streak after the Bank of Japan raised interest rates by 25 basis points to 0.5%, in line with expectations. The rate hike brought short-term borrowing costs to a 16-year high. The central bank also projected that inflation would hit its 2% target in the second half of its forecast period, signaling the possibility of further rate hikes. On the economic front, Japan's core inflation rate jumped to a 16-month high of 3% in December, strengthening the...
Hong Kong stocks jumped 336 points, or 1.7%, to 20,041 in early trade on Friday, snapping losses from the previous two sessions amid solid gains across sectors. For the week, the Hang Seng is on track for a second straight gain, up nearly 2.5% so far, boosted by Beijing's initiative to encourage insurers to buy more mainland-listed shares. The plan is expected to inject at least hundreds of billions of yuan in new capital each year from state-owned insurers. It also involves guiding mutual fund managers to increase the equity funds under their management. Overnight on Wall Street, the...
The Shanghai Composite rose 0.4% to top 3,240, while the Shenzhen Component rose 0.7% to 10,250 on Friday (24/1), extending gains from the previous session as Beijing unveiled new measures to boost stock market investment. China's top financial regulator urged medium- and long-term funds, such as insurance, pension, national social security and annuity funds, to increase their equity investments. Meanwhile, the People's Bank of China kept the interest rate on its one-year medium-term lending facility unchanged at 2% during its January decision. Chinese stocks have come under pressure...
Asia-Pacific markets rose on Friday, after the S&P 500 hit a record high on Thursday as U.S. President Donald Trump called for lower interest rates and cheaper oil. Japan's core inflation rate rose to a 16-month high of 3% in December, year-on-year, adding to the case for a rate hike from the Bank of Japan. The CPI announcement comes ahead of the Bank of Japan's monetary policy meeting later in the day. Market watchers expect the central bank to raise interest rates to their lowest level in 17 years The country's benchmark Nikkei 225 index started the day up 0.31%. South Korea's...
Japanese stocks rose for a fifth day ahead of a likely interest-rate hike by the Bank of Japan with strength among domestic demand-related sectors such as services, retail, food, and construction. Nikkei advanced 0.3% to 40,069.59 as of 9:20 a.m. Tokyo time The Topix Index rose 0.2% to 2,758.10 Nintendo Co. contributed the most to the Topix Index gain, increasing 2.2%. Out of 2,119 stocks in the index, 1,367 rose and 545 fell, while 207 were unchanged. Stocks are being supported by expectations of lower crude oil prices, easing concerns about inflation globally,...
The S&P 500 rose to record highs once again on Thursday after President Donald Trump called for lower interest rates and cheaper oil prices. The broad market index added 0.5%, notching an all-time intraday high for the second straight session. The Dow Jones industrial Average advanced 408 points, 0.9%, on pace for its fourth straight winning day. The Nasdaq Composite advanced 0.2%. Stocks took a modest leg up after Trump said Thursday in a virtual address to the World Economic Forum that he would "demand that interest rates drop immediately." The president also said he would ask Saudi...
U.S. President Donald Trump on Thursday continued to take aim at the European Union for what he claims is an unequal trade relationship. "From the standpoint of America, the EU treats us very, very unfairly, very badly," Trump said in a virtual address to the World Economic Forum in Davos, Switzerland. After his inauguration on Monday, Trump's second term has been a key topic of conversation at Davos this year — particularly given his threats of trade tariffs on the EU, China, Mexico, Canada and beyond. Echoing previous comments, Trump said in his Davos address: "They make it very...
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....