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...
European stocks had a mixed session on Monday as traders monitored corporate updates and a meeting between regional leaders and U.S. President Donald Trump to discuss Ukraine. The pan-European Stoxx 600 index provisionally closed fractionally above the flatline. Health-care stocks led gains, up 1.4%, as Novo Nordisk shares climbed 6.6%.The Danish pharmaceutical giant's blockbuster weight-loss drug Wegovy won regulatory approval in the United States to treat a serious liver disease. European leaders, including German Chancellor Friedrich Merz, French President Emmanuel Macron and British...
US stocks traded with little movement on Monday as the market awaited new catalysts this week and incoming clues regarding the Federal Reserve's monetary policy outlook. The S&P 500, Nasdaq 100, and Dow Jones were all relatively flat and remained near record highs reached last week. Minutes from this week's FOMC meeting and Jackson Hole Symposium are likely to provide clues regarding the direction of interest rates.Equities have been supported by bets on multiple rate cuts by the Fed this year, fueled by concerns about a weaker labor market and expectations of disinflation following a...
The Hang Seng Index fell 93 points, or 0.4%, to close at 25,177 on Monday (August 18th), reversing early gains as property and financial stocks dragged the index down. Sentiment worsened due to rising debt repayment risks in Hong Kong's property sector, with bond maturities expected to surge to nearly 70% next year amid weak sales. US index futures also weakened as President Trump plans to announce tariffs on semiconductor imports in the coming weeks. Caution prevailed ahead of the Fed's Jackson Hole symposium, where Chairman Powell is expected to outline the economic outlook and policy...
European stocks traded steady as investors awaited a meeting between US President Donald Trump and his Ukrainian counterpart. Novo Nordisk A/S advanced on another US approval for its weight-loss drug. The Stoxx Europe 600 Index was little changed at 8:12 a.m. in London. Danish drugmaker Novo Nordisk gained as much as 5% after its blockbuster Wegovy received Food and Drug Administration approval to treat a serious form of liver disease. Utilities and healthcare sectors outperformed, while banks and miners were the biggest laggards. Ukrainian President Volodymyr...
Japan's Nikkei share average extended its gains from last week to end at a record high on Monday, as a weaker yen pushed automakers' stocks higher. The Nikkei rose 0.77% to 43,714.31 and the broader Topix rose 0.43% to 3,120.96. Both closed at record levels for the second straight session. Japanese shares rallied this month on renewed optimism over the domestic corporate outlook and economic growth as the impact of U.S. tariffs became clearer. "Domestic equities kept the momentum from last week. There was an expectation that foreign investors would continue buying Japanese stocks," said...
The Nikkei 225 Index rose 0.3% to above 43,500, while the Topix Index gained 0.5% to 3,122 on Monday, with both benchmarks reaching new all-time highs on the back of solid economic and corporate results. Data released Friday showed Japan's economy grew faster than expected in the second quarter, supported mainly by net exports despite pressures from US tariffs. Corporate earnings have also been broadly robust this season, further boosting investor confidence. On the global front, markets are watching the upcoming meeting in Washington between US President Donald Trump and Ukrainian...
The Hang Seng Index opened 23 points higher, or 0.09%, at 25,293 on 18th August. The China Enterprises Index rose by 18 points, or 0.2%, to 9,057, while the Technology Index increased by 22 points, or 0.4%, to 5,565. Technology stocks showed mixed results. Tencent gained 0.3%, Alibaba rose 0.1%, while Meituan remained unchanged. Xiaomi Group dropped 0.1%, JD.com surged 1.6%, and Kuaishou fell 0.6%. Financial stocks exhibited varied movements. HSBC Holdings declined 0.4%, AIA Group fell 0.6%, Ping An Insurance rose 0.6%, and the Hong Kong Exchanges and Clearing Limited gained...
Asia-Pacific markets traded mixed Monday , after the U.S.-Russia summit concluded without a ceasefire. Japan's Nikkei 225 benchmark rose 0.62%, while the broader Topix index added 0.42%. In South Korea, the Kospi index fell 1.06%, while the small-cap Kosdaq was down 1.44%. Australia's S&P/ASX 200 started the day flat. Futures for Hong Kong's Hang Seng index stood at 25,214, pointing to a stronger open compared with the HSI's last close of 25,270.07. U.S. equity futures ticked up in early Asia hours on hopes for rate cuts by the U.S. Federal Reserve, which fueled a winning week on...
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....