Hong Kong stocks edged up 47 points, or 0.2%, at the start of November trading, reaching 25,949. This increase helped the market recover after three consecutive sessions of losses. The gains were primarily driven by financial and property stocks, supported by strengthening US futures after Wall Street posted weekly and monthly gains. Sentiment also improved after the White House announced that China would lift rare earth export controls and end investigations into US semiconductor companies in a new trade deal. Economically, Hong Kong reported 3.8% year-on-year growth in the third quarter,...
Oil prices were steady on Friday and poised for a weekly increase amid an improving outlook for demand in the U.S. and China. Concerns over supply disruptions in Russia also lent support. Brent futures dipped 3 cents to $76.45 a barrel by 0414 GMT while U.S. West Texas Intermediate crude edged down 4 cents to $72.44. Both indexes have gained over 2% this week - the largest weekly advances since early January. Brent would be marking a second week of gains after three weeks of declines. WTI is set to have its first week of gains after four weeks of declines. Global oil demand has averaged...
Gold price (XAU/USD) attracts some sellers in the vicinity of the $2,950 level during the Asian session on Friday and moves away from the all-time peak touched the previous day. The intraday downtick could be attributed to some profit-taking amid slightly overbought conditions on the daily chart. The downside, however, remains cushioned in the wake of worries that US President Donald Trump's tariff plans could trigger a global trade war. This might continue to act as a tailwind for the safe-haven bullion. Furthermore, expectations that Trump's protectionist policies would reignite inflation...
ilver price (XAG/USD) remains under pressure after gaining in the previous session, trading around $32.90 per troy ounce during Asian trading hours on Friday. Safe-haven metals like Silver face selling pressure as risk-on sentiment strengthens following US President Donald Trump's announcement of potential progress in trade negotiations with China. Trump's remarks helped ease market concerns over tariffs, and he expressed expectations that Chinese President Xi Jinping might visit, while also discussing matters related to TikTok. However, Silver found some support amid lingering trade and...
GBP/USD edged lower after hitting a two-month high of 1.2674 on Friday, trading around 1.2670 at the time of writing during the Asian session. However, the pair gained ground as the US Dollar (USD) struggled amid weak jobless claims data and mixed signals from the Federal Reserve (Fed). US Initial Jobless Claims for the week ending February 14 increased to 219,000, surpassing the expected 215,000. Continuing Jobless Claims also rose slightly to 1.869 million, just under the forecast of 1.87 million. Additionally, the GBP/USD pair saw gains amid improved market sentiment after US President...
Oil prices extended gains on Friday, headed for a weekly increase, as falling inventories of U.S. gasoline and distillate raised expectations of solid demand while concerns over supply disruptions in Russia lent support. Brent futures climbed 16 cents, or 0.2%, to $76.64 a barrel by 0123 GMT. U.S. West Texas Intermediate crude edged up 17 cents, or 0.2%, to $72.65. Both benchmarks were set for a weekly gain of about 3%. U.S. crude oil stockpiles rose while gasoline and distillate inventories fell last week as seasonal maintenance at refineries led to lower processing, the Energy...