Oil prices rose slightly in trading on Tuesday (January 20) after better-than-expected Chinese economic data boosted demand optimism. Brent crude rose 19 cents (0.3%) to $64.13/barrel, while February WTI which expires today rose 25 cents (0.4%) to $59.69/barrel. The more active March WTI contract also edged higher to around $59.42/barrel. This strengthening was driven by news from China, the world's largest oil importer. The Chinese economy reportedly grew 5.0% through 2025, meeting the government's target. Refinery activity also increased, with refinery throughput rising 4.1% and crude oil...
The Hang Seng Index fell 393 points, or 1.5%, to 25,217 on Tuesday (December 16), closing at a nearly four-week low and extending the previous session's sharp decline as mainland Chinese stocks slumped further and traders grew nervous ahead of key US economic data this week. Meanwhile, China's economy showed more signs of slowing in November, with disappointing industrial output and retail sales. Property stocks led the decline amid concerns of a prolonged downturn, particularly after China Vanke said it would hold a second bondholder meeting after failing to secure approval to extend a...
European stocks are expected to open lower on Tuesday (December 16), reversing gains seen earlier in the week. Shortly after the opening bell, the pan-European Stoxx 600 index fell 0.2%, with most sectors and major bourses in negative territory. Developments in Russia-Ukraine peace negotiations remain in focus, after Ukrainian President Volodymyr Zelenskyy said over the weekend that Kyiv is willing to give up its NATO membership ambitions to secure a deal to end the war. Meanwhile, US President Donald Trump told reporters on Monday that after "long and very good talks" with European...
The Nikkei 225 index closed down 1.2% to 49,544.21 on Tuesday, dragged down by a defensive market mood ahead of tonight's US economic data release. Market participants tended to reduce risk, making selling easier to emerge despite the lack of major "bad news" from Japan. The wait-and-see sentiment grew stronger as the (slightly delayed) US jobs data was seen as potentially altering the direction of Fed interest rate expectations, while this week also featured a busy central bank calendar—including the Bank of Japan, which is widely expected to raise interest rates. This combination made...
Hong Kong shares dropped 371 points, or 1.4%, to 25,258 Tuesday morning's session, extending steep losses from the previous day as all sectors retreated. Risk appetite was burdened by declines in mainland markets after weak November data showed fragile industrial output and retail turnover amid soft external demand and shaky domestic conditions. Local equities neared their lowest in a week, following a negative lead from Wall Street, where AI and tech weakness persisted. Losses were partly offset by domestic data showing Hong Kong's manufacturing output rose for a fourth straight quarter in...
Asia-Pacific stock markets mostly opened lower on Tuesday, following Wall Street's overnight decline. Pressure stemmed from investors exiting artificial intelligence (AI) stocks in the United States. Oracle shares plunged more than 5%, Broadcom fell more than 2%, while Microsoft also posted losses. In the US, the S&P 500 index fell 0.16%, the Dow Jones Industrial Average fell slightly, and the tech-dominated Nasdaq Composite Index fell 0.59%. In Asia, market movements were mixed. Australia's S&P/ASX 200 Index opened up 0.14%. However, preliminary purchasing managers' index (PMI)...