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...
The Nikkei 225 rose 0.05% to close at 42,633 on Friday, while the broader Topix Index gained 0.58% to 3,101, snapping a three-day losing streak as investors digested fresh inflation data. Japan's core CPI increased 3.1% year-on-year in July 2025, easing from 3.3% in June but surpassing market expectations of 3%. The figure remained well above the Bank of Japan's 2% target, reinforcing bets on a rate hike later this year. Market sentiment was also shaped by caution ahead of US Federal Reserve Chair Jerome Powell's Jackson Hole speech, with investors wary he may push back against...
Hong Kong stocks increased 89 points or 0.3 to 25,191 in early trade on Friday, supported by gains across most sectors. The market rebounded from the prior session's losses despite overnight weakness on Wall Street, as investors cautiously awaited Fed Chair Powell's speech at Jackson Hole. Sentiment also improved on hopes of fresh stimulus from Beijing after China's economy slowed in July. Starting in September, the Chinese government will launch a one-year consumer loan subsidy program, covering 90% of interest costs, with local authorities funding the rest. Locally, Hong Kong's annual...
Japan's equities rose on Friday after data showed inflation in July eased, reinforcing expectations for a potential Bank of Japan rate hike in the coming months. The Nikkei opened slightly higher by 19.64 points to 42,629.81. Japan's inflation in July eased, with the core CPI, which does not count fresh food items, up 3.1% over the same month in the previous year after a 3.3% gain in June, data by Statistics of Japan showed on Friday. Including all items, the reading also moderated to 3.1% compared to 3.3% in June, and marked the lowest since November 2024. Elsewhere, US stocks and bonds...
Asia-Pacific markets traded mixed Friday as investors look to U.S. Federal Reserve Chair Jerome Powell's speech at the central bank's annual economic symposium, which could offer clues into the path of interest rates. South Korea's jumped 1.22% and the small-cap Kosdaq was 0.94% higher. Japan's benchmark Nikkei 225 slipped 0.1% at the open, while the Topix rose 0.44%. The country's core inflation rate cooled to 3.1% in July, coming down from 3.3% the month before. The figure — which strips out costs for fresh food — was higher than the 3% expected by economists polled by Reuters. Rice...
The S&P 500 closed 0.4% lower on Thursday, marking its fifth consecutive decline as investors looked ahead to Fed Chair Jerome Powell's speech at Jackson Hole. The Dow Jones slipped 153 points, while the Nasdaq 100 dropped 0.5% amid continued pressure on major tech stocks. Walmart dragged on sentiment, tumbling 4.5% after missing quarterly earnings expectations for the first time since 2022, despite lifting its full-year sales and profit outlook. Weakness across other retailers added to concerns about consumer resilience in the face of higher tariffs and uneven spending. On the data...
Stocks fell broadly on Thursday, with the S&P 500 down 0.4%, sliding for a fifth straight session as investors turned their focus to Fed Chair Powell's upcoming speech at Jackson Hole. The Dow Jones dropped 150 points, while the Nasdaq lost 0.5% amid ongoing weakness in big tech. Walmart weighed on markets after its shares slipped over 4% despite raising its full-year sales and profit outlook, as its quarterly earnings missed expectations for the first time since 2022. The disappointing results, combined with cautious signals from other major retailers, underscored consumer uncertainty...
European stocks closed lower, tracking the losses for government bonds in the Eurozone as markets assessed some clarity on trade between the EU and the US, fresh economic data, and their impact on rates. The STOXX 50 fell 0.3% to the 5,459, a second decline, while the STOXX 600 was flat near the five-month high yesterday of 559. The EU and the US moved closer to formalizing their trade deal that imposes 15% US tariffs on the EU, and specified that the pharmaceuticals, autos, and metals may face the 15% tariffs instead of the steeper Section 232 levies from the US. BMW, Mercedes Benz,...
US stocks were lower on Thursday, extending the poor momentum this week as markets assessed the outlook on rates and retailers' earnings for hints on the strength of the consumer. The three main equity indices were around 0.4% down, with the Nasdaq 100 set to drop sharply this week after a tech selloff. FOMC minutes showed that most members saw inflation risks as greater than labor market risks, while policymakers showed a degree of concerns that inflation expectations could become unanchored. Tech giants remained broadly under pressure as markets showed skepticism that AI services will...
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....