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...
Global gold prices remain near all-time highs amid escalating trade tensions between the United States and China, as well as market confidence that the Federal Reserve will cut interest rates again this year. This week alone, gold prices have risen nearly 5% and reached a record $4,218.29 per ounce on Wednesday. This increase is a continuation of the strong rally since mid-August. Expectations of interest rate cuts have made gold increasingly attractive because the precious metal does not yield interest, but its value tends to stabilize amid uncertainty. Fed Chairman Jerome Powell signaled...
Oil prices fell on Wednesday to a five-month low due to escalating US-China trade tensions and the International Energy Agency's (IEA) prediction of a supply surplus in 2026. Brent crude fell 48 cents, or 0.8%, to $61.91 per barrel. US West Texas Intermediate (WTI) crude fell 43 cents, or 0.7%, to $58.27. This was the lowest close for both benchmarks since May 7, for the second straight day. Bank of America said Brent could fall below $50 per barrel if US-China trade tensions escalate while OPEC+ production increases. The world's two largest oil consumers have renewed their trade war over...
Gold prices breached $4,200 per ounce for the first time on Wednesday, extending a record rally as rising interest rate cut bets and geopolitical jitters send investors flocking to the safe-haven metal. Spot gold rose 1.3% to $4,195.35 per ounce as of 1:57 p.m. ET (1757 GMT), after hitting an all-time high of $4,217.95 earlier. U.S. gold futures for December delivery settled up 0.9% to $4,201.60. "The metal has been on a tear, and it doesn't look like it wants to stop With U.S.-China trade tensions being reignited in the last few days, investors have even more reason to hedge their long...
Gold rose to a new record above $4,200 an ounce and silver surged, driven by escalating US-China tensions and speculation that the Federal Reserve will cut interest rates twice more this year. The price of gold bullion rose as much as 1.8% to a peak of $4,218.29 on Wednesday. Spot silver prices rose more than 3%, while the availability of the precious metal in the London market remains limited. Silver had a volatile day on Tuesday, when prices surged to an all-time high above $53.55 an ounce before falling sharply. US Treasury yields fell to their lowest level in months after Fed Chairman...
Oil prices plummeted on Wednesday (October 15th), holding near five-month lows for a second day, pressured by escalating US-China trade tensions and the International Energy Agency's (IEA) prediction of a supply surplus by 2026. Brent crude fell 23 cents, or 0.4%, to $62.16 a barrel at 11:11 a.m. EDT (15:11 GMT). U.S. West Texas Intermediate crude fell 14 cents, or 0.2%, to $58.56. Both benchmarks were heading for their lowest close since May 7 for the second straight day. Bank of America said Brent could fall below $50 a barrel if US-China trade tensions escalate while OPEC+ production...