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...
Oil prices rose on Thursday (July 17), even as global trade tensions appeared to ease. Analysts cited low inventories and emerging Middle East risks as factors supporting the market. Brent crude futures rose 31 cents, or about 0.5%, to $68.83 per barrel at 12:03 GMT. US West Texas Intermediate crude rose 61 cents, or 0.9%, to $66.99. US President Donald Trump said letters notifying smaller countries about their US tariffs would be sent soon, and also mentioned the prospect of a deal with Beijing on drugs and a possible agreement with the European Union. "Near-term prices are expected to...
Gold prices weakened on Thursday, pressured by a stronger U.S. dollar, as investor concerns eased temporarily after President Donald Trump said he had no plans to fire Federal Reserve Chairman Jerome Powell. Spot gold fell 0.6% to $3,324.81 an ounce, as of 09:58 GMT. U.S. gold futures fell 0.9% to $3,330.40. The dollar index (.DXY), opened in a new tab, rose 0.3% against a basket of major currencies on Thursday, making dollar-denominated bullion more expensive for holders of other currencies. This came after a source told Reuters on Wednesday that Trump was open to the idea of firing...
Oil prices edged higher on Thursday (July 17th), driven by signs of easing trade tensions, stronger-than-expected economic data from the world's major oil consumers, and renewed risks in the Middle East. Brent crude futures rose 17 cents, or about 0.3%, to $68.67 a barrel at 08:56 GMT. U.S. West Texas Intermediate crude futures rose 31 cents, or 0.5%, to $66.69. "Oil sentiment has shifted away from the Middle East, and the reminder of Israel's incursion into Syria and drone attacks on oil infrastructure in Kurdistan is timely and once again adds a bit of tension to the proceedings," said...
Gold prices weakened on Thursday, pressured by a stronger U.S. dollar, as investor concerns eased temporarily after President Donald Trump said he had no plans to fire Federal Reserve Chairman Jerome Powell. Spot gold fell 0.5% to $3,330.21 an ounce, as of 08:27 GMT. U.S. gold futures fell 0.7% to $3,335.70. The dollar index (.DXY), opened in a new tab, rose 0.3% against a basket of major currencies on Thursday, making dollar-denominated bullion more expensive for holders of other currencies. This came after a source told Reuters on Wednesday that Trump was open to the idea of firing...
Silver price (XAG/USD) trades in a tight range around $38 during the Asian trading session on Wednesday. The white metal consolidates as investors await more cues regarding trade talks between the United States (US) and the European Union (EU). On Wednesday, US President Donald Trump stated that Washington could possibly has a deal with the EU, while expressing confidence that a trade pact with India is on the horizon. "We're very close to India, and we could possibly make a deal with EU, Trump said in an interview aired on Real America's Voice. Trump's comments came at a time when EU...