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...
The Australian dollar (AUD) strengthened against the US dollar (USD) this morning after the latest inflation data from the TD Securities–Melbourne Institute (TD-MI) showed a higher-than-expected surge in consumer prices. The monthly inflation index rose 0.4% in September, reversing from a 0.3% decline in the previous month. Annually, inflation now stands at 3%, slightly above the upper end of the Reserve Bank of Australia's (RBA) target range of 2–3%. This rise in inflation has fueled speculation that the RBA may reconsider its cautious stance on interest rates. Although the RBA held its...
The USD/JPY pair climbs to near 149.65 during the early Asian session on Monday. The Japanese Yen (JPY) faces some selling pressure against the Greenback after a ruling-party vote for Sanae Takaichi to become Japan's next Prime Minister. Reuters reported on Sunday that Japan's ruling party elected Sanae Takaichi as its new leader on Saturday, positioning the 64-year-old to become Japan's first female Prime Minister. A vote in parliament to replace outgoing Prime Minister Shigeru Ishiba is scheduled for October 15. Takaichi is favoured as the ruling coalition has the largest number of...
Gold prices hit a new record early this week, hitting $3,920 per ounce on Monday, October 6, 2025, before a slight correction. This surge fueled investor concerns over the ongoing US government shutdown. This uncertainty prompted a massive outflow of funds into safe-haven assets like gold. The shutdown also caused the postponement of US employment data, which was scheduled for release last Friday, further clouding the picture of the US economy. With crucial data withheld, investors grew wary, and precious metals became a prime choice for hedging. So far this year, gold has risen nearly 50%...
OPEC+ is once again playing it cautiously. For the second consecutive month, the world's largest oil producer group only increased supply by 137,000 barrels per day—a figure significantly lower than market expectations. Although Saudi Arabia and Russia initially disagreed, this decision indicates they are still trying to maintain a balance between maintaining prices and regaining market share. But the move comes at a less than ideal time. The global oil market is becoming oversupplied, with oil reserves continuing to grow and global demand predicted to slow. According to the International...
Oil headed for the biggest weekly loss since late June as traders positioned for a key OPEC+ decision on supply this weekend. Brent futures edged marginally higher on Friday, but were still trading below $65 a barrel and set for a weekly slump of about 8%. Prices have declined the past four days on the expectation OPEC+ will discuss fast-tracking more supply hikes. Meanwhile, efforts by the Trump administration to keep oil exports flowing from northern Iraq, as well as a US government shutdown, have added to the bearish sentiment. The OPEC+ meeting comes as...