Felix Ochieng

Asian Markets Traders

Asian Markets Mixed as China’s Industrial Output Misses Expectations

Shares in the Asia-Pacific were mostly higher on Monday as investors monitored market reaction to Chinese economic data. Mainland China markets were mixed. The Shanghai Composite fell slightly to end the day at 3,276.09 and the Shenzhen Component was up 0.33% at 12,460.22. Hong Kong’s Hang Seng index was 0.72% lower in the final hour …

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Wall Street

Wall Street Lower on Fears of Aggressive Fed Rate Hikes

Wall Street ended sharply lower on Thursday after U.S. consumer prices data came in hotter than expected and subsequent comments from a Federal Reserve official raised fears the U.S. central bank will hike rates aggressively to fight inflation. U.S. Labor Department data showed consumer prices surged 7.5% last month on a year-over-year basis, topping economists’ …

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Oil Price

Oil Prices Extend Gain by 0.5% After Jerome Powell Signalled Slower Raise on Rates.

Oil prices climbed on Wednesday, extending big gains in the previous session after the U.S. Federal Reserve chief signalled the central bank may raise rates more slowly than expected, which should support oil demand in the near term. Benchmarks Brent and WTI are trading at their highest levels since the super contagious omicron variant of …

Oil Prices Extend Gain by 0.5% After Jerome Powell Signalled Slower Raise on Rates. Read More »

Asian Markets Shenzhen

Asian Markets Mixed; Shenzhen Down 1.03%, Hang Seng Rises 0.13%.

Shares in Asia-Pacific were mixed on Friday as some major markets in the region, including Hong Kong and Singapore, closed early for Christmas Eve. Hong Kong’s Hang Seng index advanced 0.13% on the day to close at 23,223.76. Mainland Chinese stocks, on the other hand, closed lower. The Shanghai Composite fell 0.69% to 3,618.05 while …

Asian Markets Mixed; Shenzhen Down 1.03%, Hang Seng Rises 0.13%. Read More »

Oil Prices Brent WTI China

Oil Gains 0.4% Despite Growing Concerns on Europe Lockdowns, China Slowdown

Oil prices extended gains on Thursday on confidence that the omicron coronavirus variant would not dent global growth, even as some governments stepped up curbs to stop its rapid spread. U.S. West Texas Intermediate (WTI) crude oil futures rose 28 cents, or 0.4%, to $72.64 a barrel at 0201 GMT, adding to a 0.4% gain in …

Oil Gains 0.4% Despite Growing Concerns on Europe Lockdowns, China Slowdown Read More »

Global Markets Wall Street

Wall Street Ends Flat as Vaccine Optimism, Fed Tapering Lead Sentiments

Wall Street closed slightly higher on Wednesday with the three major indexes managing their third straight day of gains after test data showed the COVID-19 vaccine from Pfizer and BioNTech offered some protection against the new Omicron variant. Pfizer and BioNTech said their three-shot course of the vaccine was able to neutralize the Omicron variant …

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Kaisa Property Holdings Evergrande

China Property Fears Resurge as Kaisa Group Misses on Interest Payment, Plunges 15%

Fresh concerns have been raised about China’s property sector as Kaisa Group has become the latest developer to miss a payment to investors. The Shenzhen-based homebuilder Kaisa, which has guaranteed the wealth management product, said in a statement on Thursday it was facing unprecedented liquidity pressure due to a challenging property market and rating downgrades. …

China Property Fears Resurge as Kaisa Group Misses on Interest Payment, Plunges 15% Read More »

Wall Street Nasdaq S&P 500

Wall Street Rallies as S&P 500, Nasdaq Holds 7th Straight Record-high close.

Wall Street’s benchmark indices scored record closing highs on Friday and booked solid gains for the week following a strong U.S. jobs report and positive data for Pfizer’s experimental pill against COVID-19. The S&P 500 and the Nasdaq notched record-high closes for their seventh straight sessions, while the Dow Jones Industrial Average also closed at …

Wall Street Rallies as S&P 500, Nasdaq Holds 7th Straight Record-high close. Read More »

NSE EABL

NSE Commences Trading of EABL’s Kes.11 Billion Corporate Bond

The Nairobi Securities Exchange (NSE) on Monday announced the commencement of trading of the East African Breweries Plc Kes. 11 billion corporate bond. EABL targets to use funds from the Medium-Term Note to finance investments in expanding production, repay debts taken in the ordinary course of business refinance short-term borrowings and provide working capital. EABL …

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The AfDB

AfDB Forecasts East Africa’s Economic Growth to Rise to 4.1% in 2021.

East Africa’s economic growth is projected to rise to 4.1 per cent in 2021, up from 0.4 per cent in 2020, the African Development Bank (AfDB) said on Thursday. According to the East Africa Regional Economic Outlook 2021, the economic performance will be boosted by the ongoing global economic recovery. “However, the slow rollout of …

AfDB Forecasts East Africa’s Economic Growth to Rise to 4.1% in 2021. Read More »

Oil

Oil Prices Jump 0.1% Fueled by Growing Demand on Global Economic Recovery

Oil prices rose on Monday, extending multiweek gains, amid supply restraint from major producers and growing demand for fuels as economies try to recover from the coronavirus pandemic. Brent crude was up 81 cents, or 1%, at $83.20 a barrel by 0212 GMT, after gaining almost 4% last week. U.S. oil was up $1.15, or 1.5%, at $80.50 a barrel, …

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NSE Nairobi Securities Exchange

Market Report; 01 October 2021

The derivatives market of the Nairobi Securities Exchange (NSE) posted a decline in activity with 15 single stock features valued at Kes 297,900 traded during today’s trading session

Asian markets

Asian Markets Rise as Data Shows Factory Data Rose in SeptemberAs

Shares in Asia-Pacific were mixed on Thursday, as investors reacted to the release of Chinese factory activity data for September. Mainland Chinese stocks closed higher, with the Shanghai composite up 0.9% to 3,568.17 while the Shenzhen component jumped 1.634% to 14,309.01. Hong Kong’s Hang Seng index, on the other hand, fell 0.55% as of its final hour of trading. China’s …

Asian Markets Rise as Data Shows Factory Data Rose in SeptemberAs Read More »

Wall Street Dow Nasdaq

Wall Street Gains 0.1%, Investors Brace for Inflation, Tapering Impact

Wall Street ended firmer on Wednesday in a partial rebound from the previous day’s broad sell-off, with remarks from U.S. Federal Reserve Chairman Jerome Powell and the ongoing debt ceiling debate keeping a lid on gains. The S&P 500 index and the Dow Jones Industrial Average advanced, but the Nasdaq Composite closed lower as Treasury …

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Global Markets Wall Street

Wall Street Down Nearly 2% Amidst Piling Concerns on Treasury Yields and Inflation.

Wall Street stocks ended sharply lower on Tuesday in a broad sell-off driven by rising U.S. Treasury yields, deepening concerns over persistent inflation, and contentious debt ceiling negotiations in Washington. All three major U.S. stock indexes slid nearly 2% or more, with interest rate sensitive tech and tech-adjacent stocks weighing heaviest as investors lost their …

Wall Street Down Nearly 2% Amidst Piling Concerns on Treasury Yields and Inflation. Read More »