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...
Gold rose to around $3,300 on Wednesday, nearing a two-week high and building on a more than 2% gain from the last session, supported by geopolitical risks and persistent weakness in the US dollar. Reports that Israel is planning a strike on Iranian nuclear sites have raised concerns that the Middle East conflict could escalate, as such an attack might provoke retaliation from Iran. Adding to geopolitical concerns, President Trump said Russia and Ukraine would begin ceasefire talks immediately, but he appeared to signal that he would step back from mediating the three-year...
Oil prices jumped more than 1% on Wednesday after reports Israel is preparing a strike on Iranian nuclear facilities, raising fears that a conflict could upset supply availability in the key Middle East producing region. Brent futures for July rose 97 cents, or 1.5%, to $66.35 a barrel by 0330 GMT. U.S. West Texas Intermediate crude futures for July climbed 96 cents, or 1.6%, to $62.99. The June WTI contract expired on Tuesday at $62.56. New intelligence obtained by the United States suggests that Israel is preparing to strike Iranian nuclear facilities, CNN reported on Tuesday, citing...
The Australian Dollar (AUD) edges higher against the US Dollar (USD) on Wednesday, rebounding after falling more than 0.50% in the previous session. The AUD/USD pair gains ground as the US Dollar extends its decline, pressured by cautious remarks from Federal Reserve (Fed) officials regarding the economic outlook and business sentiment. Speaking at a panel discussion hosted by the Federal Reserve Bank of Atlanta, San Francisco Fed President Mary C. Daly and Cleveland Fed President Beth Hammack expressed growing concerns about the US economy. While key economic indicators remain solid, both...
The US Dollar Index (DXY), which tracks the US Dollar (USD) against a basket of six major currencies, is extending its losses for the third successive session and trading lower at around 99.70 during the Asian hours on Wednesday. The Greenback depreciates, pressured by cautious remarks from Federal Reserve (Fed) officials regarding the economic outlook and business sentiment. San Francisco Fed President Mary C. Daly and Cleveland Fed President Beth Hammack stated growing concerns about the US economy. While key economic indicators remain robust, both officials pointed to deteriorating...
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $62.95 during the Asian trading hours on Wednesday. The WTI price surges after CNN reported that US intelligence suggests Israel is making preparations to possibly strike Iranian nuclear facilities. The United States (US) has obtained new intelligence suggesting that Israel is making preparations to strike Iranian nuclear facilities, even as US President Donald Trump has been pursuing a diplomatic deal with Tehran, multiple US officials familiar with the latest intelligence told CNN. It isn't clear that Israeli...