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 Index climbed 0.9% to around 46,570 while the broader Topix Index advanced 0.8% to 3,185 on Friday, with Japanese equities hitting fresh all-time highs as investors awaited the Bank of Japan's policy decision, where rates are expected to remain unchanged. Still, markets are pricing in a possible 25 basis point hike in October amid signs of resilience in the economy. Investors also assessed data showing Japan's core inflation rose 2.7% in August, easing for the third straight month to the lowest since November 2024. Japanese stocks also mirrored Wall Street's rally, with the...
Asian stocks were on the cusp of an intraday record high after US and global equity benchmarks hit fresh peaks, as the Federal Reserve's interest-rate cut bolstered sentiment. Stocks in Japan and Australia opened higher while South Korea was flat. The S&P 500, Nasdaq 100, Dow Jones Industrial Average and Russell 2000 small-cap index all closed together at fresh highs for the first time since November 2021. An MSCI index of global stocks also closed at a record in a sign of robust risk appetite. The yen was steady after Japan's...
All three major Wall Street indexes closed at record highs on Thursday (September 19) after the Federal Reserve continued easing interest rates and indicated the possibility of further rate cuts this year. The S&P 500 rose 0.5% and the Nasdaq 100 jumped 0.9%, both extending their record highs from the previous session, while the Dow Jones Industrial Average rose 123 points. Investors welcomed the Fed's quarter-point rate cut and the prospect of two additional cuts, interpreting the move as a shift toward supporting growth rather than strictly controlling inflation. Technology stocks...
European stocks closed sharply higher on Thursday (September 18th) thanks to strong support from major technology companies, as investors assessed policy decisions from major central banks and their impact on global interest rates. The Federal Reserve cut interest rates by 25 basis points, as expected, and issued a median projection of two more rate cuts this year, although upward revisions to core inflation expectations and higher growth dampened speculation of further cuts next year. Meanwhile, the Bank of England kept interest rates unchanged, as expected, but slowed the pace of its...
Stocks in the US were mostly higher on Thursday, with the S&P 500 rising 0.5% and the Nasdaq adding 0.8% while the Dow Jones traded around the flatline as traders digested the Fed's first interest rate cut of the year and better-than-expected jobless claims. The Fed signaled an additional 50bps of cuts this year, followed by another 25bps reduction in 2026. Volatility followed the decision and Chair Powell's press conference, where he framed the move as a "risk management" cut and cautioned that there are no risk-free paths. Meanwhile, initial jobless claims fell much more than expected...
The Hang Seng tumbled 363 points or 1.4% to close at 26,545 on Thursday, reversing early gains as sentiment turned sour amid a sharp drop in mainland markets. Pressure mounted after the PBoC today signaled no urgency to ease monetary policy, leaving its seven-day reverse repo rate unchanged at 1.4%. This fueled bets that Beijing may delay fresh stimulus until next year. In the US, the Fed lowered its benchmark rate as expected, with Chair Powell calling it a "risk management cut" while projecting two more reductions this year, another in 2026, one in 2027, and none in 2028. Profit-taking...
The STOXX 50 jumped 0.7% and the STOXX 600 was up 0.5% on Thursday, as trackers digest the latest Fed decision. The central bank cut the fed funds rate by 25bps as expected and signalled 50bps of additional cuts until the end of the year. However, Chair Powell emphasized that the move should not be seen as the start of a new easing cycle. Meanwhile, the Bank of England is set to leave borrowing costs when it announces the monetary policy decision later in the day. On the corporate front, SAP (2.3%), ASML Holding (2%), Linde (1.8%), Siemens (1.3%) and Schneider Electric (2.2%) booked strong...
Japan stocks were higher after the close on Thursday, as gains in the Real Estate, Banking and Textile sectors led shares higher. At the close in Tokyo, the Nikkei 225 added 1.20% to hit a new all time high. The best performers of the session on the Nikkei 225 were Resonac Holdings Corp (TYO:4004), which rose 11.65% or 540.00 points to trade at 5,175.00 at the close. Meanwhile, SUMCO Corp. (TYO:3436) added 7.39% or 104.50 points to end at 1,518.00 and Mitsui Mining and Smelting Co. (TYO:5706) was up 5.93% or 605.00 points to 10,810.00 in late trade. The worst performers of the session...
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....