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 prices edged up on Tuesday (January 6), hitting a one-week peak and nearing a record high, with demand for safe havens driven by geopolitical tensions surrounding the US arrest of Venezuela's president and expectations of a US interest rate cut. Spot gold prices rose 0.3% to $4,461.09 an ounce, as of 11:35 GMT, after rising nearly 3% in the previous session. Bullion hit a record high of $4,549.71 on December 26, ending the year with a 64% gain, its best annual performance since 1979. US gold futures for February delivery rose 0.3% to $4,462.60. "Gold prices were supported by rising...
Oil prices edged higher in recent trading, continuing their gains after posting their biggest daily gain in a week. However, market direction remains mixed as market participants weigh two competing narratives: resurgent geopolitical risks versus lingering concerns about a global supply surplus. In European markets, Brent held steady around US$62 per barrel after strengthening by around 1.7% in the previous session. Attention remains focused on developments in Venezuela following the fall of Nicolás Maduro, including planned talks between industry leaders and Washington regarding the future...
Gold prices rose slightly on Tuesday (January 6) to a near one-week high, supported by safe-haven demand amid rising geopolitical tensions over the US arrest of Venezuelan President Nicolas Maduro and growing expectations of a US interest rate cut. Spot gold prices rose 0.1% to $4,452.60 an ounce, as of 0946 GMT, after rising nearly 3% in the previous session. Bullion hit a record high of $4,549.71 on December 26, ending the year with a 64% gain, its best annual performance since 1979. US gold futures for February delivery rose 0.3% to $4,462.60. "Gold prices were supported by rising...
Oil prices fell on Friday (January 2), the first trading day of 2026, after posting their biggest annual loss since 2020, as investors weighed oversupply concerns against geopolitical risks, including the war in Ukraine and Venezuelan exports. Brent crude futures closed down 10 cents at $60.75 a barrel, while U.S. West Texas Intermediate crude fell 10 cents to $57.32. Russia and Ukraine accused each other of attacks on civilians on New Year's Day despite talks led by U.S. President Donald Trump aimed at ending the nearly four-year war. Kyiv has stepped up attacks on Russian energy...
Gold and silver steadied at the beginning of the year after their best annual performances since 1979 as traders assessed the reweighting of a benchmark commodity index that starts next week. Bullion gained as much as 1.9% on Friday before paring most gains during US hours. Silver eased after earlier climbing as much as 4%. While traders have flagged the metals could do well this year on further US interest-rate cuts and dollar weakness, there's concern that a broad index rebalancing might pressure prices in the near term. Given the metals have rallied, passive tracking funds may sell some...