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...
Hong Kong equities rose 75 points, or 0.3%, to 25,834 in Thursday morning deals, reversing a sharp drop the previous day as gains mainly from tech and consumer stocks lifted risk appetite. An extended rally on Wall Street overnight lent further support ahead of Friday's PCE index, the Fed's preferred inflation gauge, while markets priced in a potential 25bps rate cut next week amid softer labor market signals. Locally, economists expect Hong Kong's HIBOR to stay between 2-3% in the coming quarters, providing a stable backdrop for asset markets and the broader economy. Gains were capped,...
Asian stocks opened higher on Thursday, following gains in US markets. Positive sentiment stemmed from weak US jobs data, bolstering confidence that the Federal Reserve could cut interest rates at its meeting next week. The MSCI Asia stock index rose around 0.2%, while US stock index futures held steady after the S&P 500 rose 0.3% and the Nasdaq 100 gained 0.2% on Wednesday. In global financial markets, the US dollar index remained flat after previously falling 0.4%. US Treasury yields also fell, with the two-year yield hovering around 3.48% as expectations for an interest rate cut...
Japan's Nikkei index rose 0.7% to 50,211.09, driven primarily by shares of chip and industrial robot manufacturers. Renesas Electronics surged 7.1% and Fanuc rose 5.8%, providing a strong boost to the market, as the technology and robotics sectors are considered important drivers of the Japanese economy going forward. This rise occurred despite signs of a weakening labor market in the United States. Meanwhile, USD/JPY was hovering around 155.15, slightly weaker than its previous close of 155.52. Investors are now focused on Prime Minister Sanae Takaichi's policy moves and Japanese domestic...
US stocks extended their recovery as markets transitioned to looser Fed policy, with the Dow closing 0.9% higher, the S&P 500 gaining 0.4%, and the Nasdaq gaining 0.2%, as financial and defensive sectors outperformed due to a clear reweighting of near-term policy risks. ADP's surprise 32,000 decline in private payrolls pushed the chances of a Fed rate cut closer to certain. Wells Fargo and Citi each rose 3.5% as the prospect of looser policy reduced short-term funding costs and improved loan demand, while UnitedHealth jumped 4.7%. Marvel jumped 7.9% after raising its data center...
European stocks closed mixed on Wednesday (December 3) amid a series of corporate updates, as markets continued to gauge the euro's divergent interest rate outlook against that of the Fed and the ECB. The Eurozone STOXX 50 edged up 0.1% to 5,693, and the broader STOXX 600 gained 0.1% to 576. ECB President Lagarde noted that the bloc's inflation is expected to remain close to target, while Executive Board Member Lane warned of upside risks. Meanwhile, downbeat US jobs data reinforced speculation of a Fed rate cut next week. ASML jumped 2.6% after its ratings were upgraded by Bank of America...
Wall Street's main indexes opened lower on Wednesday, as investors assessed data pointing to a weak jobs market, while Microsoft fell after a report said the tech giant lowered its sales growth targets for certain artificial intelligence products. The Dow Jones Industrial Average fell 102.8 points, or 0.22%, at the open to 47,371.62. The S&P 500 fell 14.1 points, or 0.21%, at the open to 6,815.29, while the Nasdaq Composite dropped 98.1 points, or 0.42%, to 23,315.58 at the opening bell. Source : Reuters
The Hang Seng tumbled 334 points, or 1.3%, to end at 25,761 on Wednesday, snapping a two-day rise as all sectors fell. Sentiment soured after a private survey showed China's services activity grew the least in five months in November, adding to pressure from deepening financial woes at property giant Vanke. The property sector led losses, down 1.6%, after Fitch placed Vanke on "Rating Watch Negative" and downgraded its subsidiary's notes. Financials, tech, and consumer stocks also retreated amid fading hopes for new stimulus before year-end. Still, the downside was limited by a Reuters...
The Nikkei 225 Index rose 1.14% to close at 49,865 on Wednesday, recouping losses from earlier in the week and following gains on Wall Street amid expectations of further US Federal Reserve rate cuts. Risk appetite also improved as investors weighed the potential for a year-end rally in global equities. At home, caution persisted as markets assessed speculation that the Bank of Japan could raise rates this month. BOJ Governor Kazuo Ueda said the central bank would consider the pros and cons of a hike and act "as appropriate." Technology stocks led the advance, with strong gains from...
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....