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...
Asia-Pacific markets traded higher Tuesday, fueled by a tech rally on Wall Street after Nvidia announced a partnership with OpenAI, driving investor optimism about the future of artificial intelligence. Australia's ASX/S&P 200 rose 0.17%. South Korea's Kospi climbed 0.69%, while the small-cap Kosdaq added 0.28% at the open. Hong Kong's Hang Seng Index was set to open higher, with its futures contract last traded at 26,396, against the index's previous close of 26,344.14. Hong Kong is bracing for a severe typhoon. The Hong Kong Observatory warned that conditions will begin to...
US stocks rallied on Monday (September 22nd) as Wall Street extended its record high, driven by optimism for megacap Big Tech companies. The S&P 500 rose 0.4%, the Nasdaq gained 0.5%, and the Dow Jones Industrial Average rose 66 points, with all three indexes closing at new highs. Nvidia jumped 4% after announcing an investment of up to $100 billion in OpenAI, lifting the S&P 500 and Nasdaq, while Oracle surged 6.3% following a leadership change and continued enthusiasm for AI. Apple shares rose 4.3%, supported by strong demand for the iPhone 17, and Tesla rose 1.9%, reaching a 2025...
European stocks closed slightly lower on Monday (September 22nd) after posting strong gains the previous week as markets continued to assess the global interest rate outlook and weighed lingering geopolitical risks. The Eurozone STOXX 50 fell 0.3% to 5,445, and the pan-European STOXX 600 fell 0.1% to 554. Automakers led the decline after Porsche cut its profit outlook for the year and delayed the launch of an electric car due to weak demand, pushing its shares down 7.2%. Volkswagen, Porsche's main shareholder, fell 7.1%, while Stellantis fell more than 2%. Meanwhile, BBVA underperformed in...
The Hang Seng dropped 201 points or 0.8% to close at 26,344 on Monday, reversing a flat finish in the prior session as U.S. futures fell sharply ahead of Fed speeches and a key U.S. inflation report this week. Caution also grew ahead of Hong Kong's August inflation data due later today, while the city braced for one of its strongest super typhoons in years. Hong Kong International Airport will suspend passenger flights for 36 hours from Tuesday evening, with the Airport Authority confirming preparations for the storm, named Ragasa. Losses were partly cushioned by the PBoC's decision to keep...
Both the STOXX 50 and the STOXX 600 were little changed on Monday, as traders began the week cautiously ahead of remarks from several Fed officials that could help shape the monetary outlook for the rest of the year. Investors also weighed President Trump's new visa measures, including a proposed $100,000 application fee for the widely used H-1B program—a move that would sharply raise costs for companies, particularly in the tech sector, that rely on skilled foreign workers. On the corporate front, telecoms, automakers, and banks were among the biggest decliners. VW shares fell about 4.3%,...
Japan stocks were higher after the close on Monday, as gains in the Real Estate, Banking and Textile sectors led shares higher. At the close in Tokyo, the Nikkei 225 gained 1.02% to hit a new all time high. The best performers of the session on the Nikkei 225 were Lasertec Corp (TYO:6920), which rose 10.48% or 2,010.00 points to trade at 21,195.00 at the close. Meanwhile, Taiyo Yuden Co., Ltd. (TYO:6976) added 9.63% or 303.00 points to end at 3,448.00 and Takashimaya Co., Ltd. (TYO:8233) was up 8.19% or 124.50 points to 1,644.50 in late trade. The worst performers of the session were...
The Hang Seng Index opened 85 points lower at 26,459 on Monday and extended its losses to 121 points, or 0.45%, reaching 26,423. The China Enterprises Index fell 41 points, or 0.44%, to 9,430, while the Technology Index declined by 14 points, or 0.23%, to 6,279. Total mainboard turnover stood at HK$41.2 billion. Technology stocks saw mixed performance, with Tencent dropping 0.2%, Meituan falling 1.6%, Xiaomi slipping 0.6%, and JD.com declining 1.7%. Kuaishou, which is currently under investigation by China's Cyberspace Administration, plunged 4.1%. Alibaba was one of the few gainers, rising...
Asia-Pacific markets traded higher Monday, tracking Wall Street's gains on Friday stateside, as investors awaited China's key lending rate decision that's due out today. China is expected to leave the loan prime rates unchanged, according to a Reuters poll. This came after the central bank kept a key interest rate steady after the U.S. Federal Reserve lowered its rates by 25 basis points. Japan's benchmark Nikkei 225 index rose 0.74% at the open, while the Topix index advanced 0.58%. South Korea's Kospi index added 0.71% in early trading, while the small-cap Kosdaq was 0.7%...
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....