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...
Stocks in Hong Kong edged up 27 points, or 0.1%, to 26,186 in Wednesday morning trade, trying to reverse losses from the prior two sessions as most sectors advanced. Bargain hunting, particularly in property stocks, helped lift the market from its near two-week low. Investors were also encouraged by modest gains in China's markets after a drop in the previous session, following a press briefing by top financial regulators, including the PBoC governor, that offered no new support measures. However, overnight losses on Wall Street limited gains after remarks from Federal Reserve Chair Jerome...
Japanese indexes corrected on Wednesday, with the Nikkei 225 down 0.1% to ±45,450 and the Topix down 0.5% to 3,147, erasing the previous session's gains. Pressure came from Wall Street, which retreated from record highs after Fed Chairman Jerome Powell highlighted overpriced valuations and uncertainty about the direction of interest rate cuts amid a complex policy environment.Sentiment was also weighed down by doubts about the sustainability of the AI-driven rally that has been driving major US technology stocks. Investors in Japan tended to reduce risk ahead of the next round of global data...
Asia-Pacific markets fell Wednesday, tracking Wall Street declines after U.S. Federal Reserve Chair Jerome Powell said that "equity prices are fairly highly valued." Powell also signaled that the rate-cutting path wasn't clear and that the central bank faces a "challenging situation." Australia's ASX/S&P 200 lost 0.61%. Japan's benchmark Nikkei 225 slipped 0.33%, while the Topix lost 0.35%. South Korea's Kospi lost 0.11%, while the small-cap Kosdaq traded 0.39% lower. Hong Kong's Hang Seng Index was set to open higher, with its futures contract last traded at 26,188 against the...
A record-breaking US stock rally stalled on Tuesday, as investors weighed cautious comments from Federal Reserve officials and concerns about the sustainability of AI-driven commerce. The S&P 500 fell 0.5%, the Nasdaq 100 fell 0.7%, and the Dow Jones Industrial Average fell 88 points. Nvidia fell 2.8% after a Monday surge linked to its $100 billion OpenAI investment, as investors questioned the deal's structure and energy demand, while Oracle and Amazon fell 4.1% and 3.1%, respectively. On the positive side, Kenvue rose 1.7% after paring losses from Trump's criticism of Tylenol, and...
European stocks touched their highest in more than a week on Tuesday, lifted by a rally in luxury goods companies on higher U.S. spending and gains for wind energy stocks after a court ruled that Orsted could restart work on a U.S. offshore project. The pan-European STOXX 600 closed up 0.4%, after having touched its highest since September 16 earlier in the session. Most regional bourses also closed higher. Portugal stocks closed at their highest in more than three weeks after the country kept its budget surplus target for 2025, allowing it to continue reducing its debt ratio. Meanwhile,...
The Hang Seng dropped 185 points, or 0.7%, to close at 26,159 on Tuesday, its second straight decline and the lowest in nearly two weeks. Sentiment weakened as China's policy measures fell short of expectations following a press briefing by top financial regulators on Monday, including the PBoC governor. Locally, Hong Kong shut down ahead of Super Typhoon Ragasa, with most flights suspended until Thursday. In the U.S., three Fed officials signaled the need for caution on inflation, while markets awaited a speech from Chair Powell later today. Losses were partly limited by pledges from the...
European stocks edged higher on Tuesday, with the STOXX 50 and STOXX 600 both up 0.1%, supported by a tech-led rally on Wall Street and optimism over AI following news of a Nvidia–OpenAI partnership. Traders also awaited fresh PMI data from Europe's largest economies. France disappointed, with both services and manufacturing slipping into contraction territory. On the corporate front, LVMH (+0.5%), Siemens (+1%), Schneider Electric (+1.9%) and ABB (+0.7%) booked gains, while Orsted surged more than 7% after a US court ruling cleared the way to resume work on the Revolution Wind project off...
Hong Kong shares fell 195 points or 0.7% to 26,160 in early deals on Tuesday, marking a second day of losses as most sectors retreated. Sentiment weakened after PBoC Governor Pan Gongsheng's Monday briefing failed to deliver the easing measures investors had hoped for, with policymakers showing little urgency for major stimulus amid resilient exports and a stock market rally. In the U.S., futures were steady as Fed officials tempered bets for further cuts, noting inflation remains above target, though new Fed Governor Stephen Miran continued to advocate for deeper cuts. Losses were capped...
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....