The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of the short term rally, as investors began to reduce risk in large cap stocks. Among the index's contributors, Tencent was a major drag, with its shares falling by around 2.3%, putting pressure on the technology sector, which has recently been a driving force behind market gains. Weakness in large cap companies like this typically quickly impacts sentiment due to their significant weighting in...
1) US vs. Venezuela: "Tanker Blockade" Immediately Tenses Markets The US under President Donald Trump has increased pressure on Venezuela by ordering a blockade of sanctioned oil tankers (entering and leaving Venezuela). This has raised concerns that oil shipments could be disrupted, although the technical details of the "blockade" (how many vessels will be affected and how it will be implemented) remain a major question mark. From Venezuela's side, the response was strong and they rejected the threat. The market views this story as "short-term bullish" for oil because it increases supply...
A Russian missile strike on the eastern Ukrainian city of Balakliia killed three people, with three teenagers among the 10 wounded, Kharkiv regional officials said on Monday. The overnight attack damaged multi-storey residence blocks and destroyed scores of cars in the city centre, Oleh Synehubov, the governor of the region bordering Russia, said on the Telegram messaging app. A photograph provided by regional authorities showed the damaged facade of a multi-storey brick building with windows blown out, as flames burned on an upper floor and debris and broken tree branches littered the...
OPEC on Tuesday raised its forecast for global oil demand next year and trimmed its forecast for growth in supply from the United States and other producers outside the wider OPEC+ group, pointing to a tighter market outlook. World oil demand will rise by 1.38 million barrels per day in 2026, the Organization of the Petroleum Exporting Countries said in a monthly report, up 100,000 bpd from the previous forecast. This year's expectation was left unchanged. Oil supply from countries outside the Declaration of Cooperation - the formal name for OPEC+ - will rise by about 630,000 barrels per...
US President Donald Trump, in his speech on Monday night (August 11th), expressed his determination to "liberate" Washington, D.C., from crime, violence, and social problems that he said had been neglected for too long. Trump said he would deploy federal troops to restore security and order to the capital, while ensuring the city is once again safe and orderly for its citizens. In his speech, Trump also highlighted the growing problem of homelessness in the downtown area. He plans to relocate the homeless to alternative housing outside the core area of Washington, D.C., citing cleanliness,...