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Wall Street Drops as Fed, Omicron Causes Worry on Investors.

Wall Street’s major indexes closed lower on Friday, with the Nasdaq leading the declines as investors bet that a strong jobs report would not slow the Federal Reserve’s withdrawal of support all while they grappled with uncertainty around the Omicron coronavirus variant. After opening higher, Wall Street spent the rest of the session in the doldrums and an elevated volatility index highlighted investor anxiety. The Labor Department’s report, ahead of the session’s open, showed that...

Asian Markets Mixed, Chinese Tech Stocks in Hong Kong Drop

Asia-Pacific stocks were mixed on Friday, following days of turbulent trading this week as investors continue to monitor the situation surrounding the omicron Covid variant. Chinese tech stocks in Hong Kong plunged after ride-hailing giant Didi announced Friday that it will begin taking steps to delist from the New York Stock Exchange — less than six months after it made its debut stateside. The company also said in the statement that it will pursue a listing in Hong Kong. Shares...

Asian Pacific Stocks Mixed, Razer Shares Plunge in Hong Kong

Stocks in Asia-Pacific struggled for direction on Thursday, as concerns over the economic impact of the omicron Covid variant continue to weigh on investor sentiment. Hong Kong’s Hang Seng index rose 0.55% to close at 23,788.93, reversing earlier losses. Shares of Razer in the city, however, dropped 7.87% on the day. The company said a consortium has offered to take it private at 2.82 Hong Kong dollars each, about 5.62% higher than Razer’s Wednesday close. Mainland Chinese stocks closed in...

Oil Prices Edge Higher, as Investors Focus on OPEC+ Decision Oversupply Policy

Oil prices rose on Thursday, recouping the previous day’s losses, as investors adjusted positions ahead of an OPEC+ decision oversupply policy, but gains were capped amid fears the Omicron coronavirus variant will hurt fuel demand. Brent crude futures rose 85 cents, or 1.2%, to $69.72 by 0402 GMT, having eased 0.5% in the previous session. U.S. West Texas Intermediate (WTI) crude futures gained 85 cents, or 1.3%, to $66.42 a barrel, after a 0.9% drop...

Asia-Pacific Stocks Fall Amid Renewed Covid Uncertainty; Oil Drops 3%

Major Asia-Pacific markets fell in Tuesday trade as investors in the region continued to track developments surrounding the omicron variant. Major markets in the region fell after Moderna CEO Stephane Bancel told the Financial Times that he expects existing vaccines to be less effective against the new variant. Bancel told CNBC on Monday that it could take months to develop and ship an omicron specific vaccine. Hong Kong’s Hang Seng index was among the region’s biggest losers, falling about 1.8% as of...

Oil Prices Fall More than 2% after a Report Causes Doubt on the Effectiveness of Vaccines

Oil prices gave up gains on Tuesday, falling more than 2% along with broader financial markets after a media report cast doubt on the efficacy of COVID-19 vaccines against the Omicron coronavirus variant. The head of drugmaker Moderna told the Financial Times that COVID-19 vaccines are unlikely to be as effective against the Omicron variant of the coronavirus as they have been against the Delta variant. Both benchmarks tumbled more than $1 on the news. Brent...

Asian Markets Mostly Fall, Investors Watch Out for the Omicron Variant

Major markets in Asia-Pacific largely fell on Monday as investors continue to monitor developments surrounding the recently discovered omicron Covid variant. Hong Kong’s Hang Seng index slipped 0.95% to close at 23,852.24. Hong Kong-listed shares of Chinese tech giant Meituan lost 7% after the firm on Friday posted a loss of about 10 billion Chinese yuan ($1.56 billion) for the three months ended Sept. 30. Shares of Sun Entertainment Group in Hong Kong sank 30.97% after the South China Morning Post reported...

Oil Rebounds on Speculation that OPEC+ May Pause Output Increase

 Oil prices rebounded on Monday as investors looked for bargains after Friday’s slump and on speculation that OPEC+ may pause an output increase in response to the spread of Omicron, but the mood remained cautious with little known about the new variant. Brent crude futures climbed $3.11, or 4.3%, to $75.83 a barrel by 0355 GMT, after falling $9.50 on Friday. U.S. West Texas Intermediate (WTI) crude was up $3.47, or 5.1%, at $71.62 a...

Asia-Pacific Markets Slip Amid Renewed Covid Fears as New Variant Emerges

Shares in Asia-Pacific dropped on Friday, with stocks in Hong Kong and Japan leading losses regionally as fears of a new Covid variant weighed on investor sentiment. World Health Organization officials said Thursday they are monitoring a new variant with “a large number of mutations.” A special meeting is scheduled for Friday to discuss its implications for vaccines and treatments. Hong Kong’s Hang Seng index saw sharp losses on Friday, falling 2.67% to close at 24,080.52. The variant...

Oil Slumps, on Concerns of Surplus Supply in Q1, New Variant

Oil prices slid more than 2% on Friday on concerns that a global supply surplus could swell in the first quarter following a U.S.-led coordinated release of crude reserves among major consumers and as a new COVID-19 variant spooked investors. Brent crude futures extended declines for a third session, falling $1.69, or 2.1%, to $80.53 a barrel by 0327 GMT. U.S. West Texas Intermediate (WTI) crude was down $2.04, or 2.6%, at $76.35 a barrel....

Asia-Pacific Stocks Mixed; Bank of Korea Announces Rate Hike

Shares in Asia-Pacific were mixed on Thursday as investors reacted to the Bank of Korea’s rate decision. South Korea’s Kospi dipped 0.47% to close at 2,980.27 after the Bank of Korea raised its policy rate by 25 basis points to 1%, a move that was largely expected by analysts in a Reuters poll. Following the decision, the Korean won traded 1,189.89 per dollar, weaker than levels around 1,185 seen against the greenback yesterday. The South Korean central bank’s decision followed a similar...

Oil Prices Edge Lower, as Investors Wait for OPEC+ Response on U.S-led Crude Release

Oil prices ticked lower on Thursday with investors waiting to see how major producers respond to the emergency crude release by major consuming countries designed to cool the market, even as data pointed to healthy U.S. fuel demand. U.S. West Texas Intermediate (WTI) crude futures fell 9 cents, or 0.1%, to $78.30 a barrel at 0201 GMT, extending an 11 cent loss on Wednesday. Brent crude futures slipped 5 cents to $82.20 a barrel, after losing 6...

Asian Markets Mixed, New Zealand Dollar Falls after Central Bank Announces Rate Hike

Shares in Asia-Pacific were mixed on Wednesday, with Japanese stocks leading losses regionally. The Nikkei 225 in Japan fell 1.58% to close at 29,302.66 while the Topix index declined 1.16% to 2,019.12. Markets in Japan were closed on Tuesday for a holiday. South Korea’s Kospi dipped 0.1% on the day to 2,994.29. Hong Kong’s Hang Seng index rose 0.54% as of its final hour of trading. Mainland Chinese stocks finished the trading day mixed, with the Shanghai composite rising 0.1% to 3,592.70 and...

Oil Prices Edge Lower, as Investors Watch Out on Joint Reserve Release

Oil prices fell on Wednesday as the U.S.-led coordinated release of stocks from strategic reserves eased concerns over tightness in global supply, while investors took profits from the previous day’s rally ahead of the U.S. Thanksgiving holiday. U.S. West Texas Intermediate (WTI) crude futures fell 12 cents, or 0.2%, to $78.38 a barrel at 0122 GMT, reversing out of a 2.3% gain in the previous day. Brent crude futures slid 32 cents, or 0.4%, to $81.99 a...

Asian Markets Mixed, as Tech Shares Drop

Shares in Asia-Pacific were mixed on Tuesday as investors watched for market reaction to U.S. President Joe Biden picking Jerome Powell for a second term as Federal Reserve chair. Hong Kong’s Hang Seng index declined more than 1% as of its final hour of trading. Mainland Chinese stocks closed mixed, with the Shanghai composite up 0.2% to 3,589.09 while the Shenzhen component slipped 0.371% to 14,905.13. South Korea’s Kospi dipped 0.53% to close at 2,997.33, with shares of biopharmaceutical firm Celltrion plunging 6%. The S&P/ASX 200 in Australia closed 0.78%...

Oil Prices Lower, on Expected Deal to Tap Emergency Crude Reserves

Oil prices dropped on Tuesday, reversing gains in the previous session, on growing talk the United States, Japan and India will release crude reserves to tame prices despite the threat of demand faltering as Covid-19 cases flare-up in Europe. The U.S. Department of Energy is expected to announce a loan of oil from the Strategic Petroleum Reserve on Tuesday, and will be coordinated with other countries, a Biden administration source familiar with the situation said....

Asia-Pacific Stocks Mixed; JD.com, Netease Shares in Hong Kong Jump

Shares in Asia-Pacific were mixed on Monday as China kept its benchmark lending rate unchanged. The Hang Seng index in Hong Kong dipped 0.39%, closing at 24,951.34. Hong Kong-listed shares of JD.com and NetEase gained 1.93% and 3.02%, respectively, following a Friday announcement that the two stocks are set to be included in the benchmark Hang Seng index from Dec. 6. In mainland China, the Shanghai composite rose 0.61% to close at 3,582.08 while the Shenzhen component advanced 1.411% to 14,960.66. China on Monday kept the one-year...

Asian Markets Edge Lower, Hong Kong Shares Extend Losses

Asian markets were mainly lower on Friday as Hong Kong shares slumped, extending losses from the previous session as some of China’s biggest tech names remained under pressure. The benchmark Hang Seng index declined 1.07% to 25,049.97 while the tech-focused Hang Seng tech index dropped 0.26% to 6,457.97. Alibaba shares listed in Hong Kong dropped more than 10% after the technology behemoth missed revenue and earnings expectations for the September quarter, as slowing economic growth in China weighed on results....

Oil Rises as Investors Look Past Possible Reserve Releases

Oil prices rose on Friday, after wild swings the day before, on investor concerns that potential coordinated releases by the world’s major economies of their official crude reserves to try to lower prices may have less of an impact than expected. Brent crude was up 53 cents, or 0.7%, at $81.77 a barrel by 0437 GMT, after falling to a six-week low on Thursday before rebounding to close 1.2% higher. U.S. West Texas Intermediate (WTI)...

Asia-Pacific Markets Mixed as Hong Kong Tech Shares Sell off

 Asia-Pacific markets traded mixed on Thursday, following overnight losses on Wall Street, as shares in Japan, Hong Kong and the Chinese mainland struggled for gains. Hong Kong’s Hang Seng Index fell 1.29% to 25,319.72 while the Nasdaq-style technology board, Hang Seng tech index, sold off nearly 3%. Some of the major tech names listed in Hong Kong declined sharply: Alibaba was down 5.34%, Meituan fell 2.46%, JD was down 3.58%, Tencent declined 2.4% and Baidu fell 7.84%. In the previous Asian Trading session, Baidu reported third-quarter revenue above...

Oil Prices Decline as China Readies Release of Crude from Strategic Reserves

Oil prices fell on Thursday, adding to an overnight plunge as China said it was moving to release reserves following a Reuters report that the United States was asking big crude consumers to consider a coordinated release of stocks to lower prices. The bid by the U.S. administration to shock markets comes as inflationary pressures, partly driven by surging energy prices, starts to produce a political backlash, as the world fitfully recovers from the worst...

Asia-Pacific Stocks Fall as Shares of Japan’s Automakers Slip

Declines across Asia-Pacific stocks were seen by Wednesday’s close, with data showing Japan’s exports growth hit an eight-month low. Markets in the U.S., however, were lifted on the back of stronger-than-expected retail sales data. Australia and South Korea led losses in the region. In Australia, the S&P/ASX 200 fell 0.68% to close at 7,369.90. Financial stocks were lower, with the Commonwealth Bank of Australia leading losses as its shares plummeted more than 8%. News in the region may help...

Oil Edges Lower, as U.S. Gasoline Stock Draw Raises Prospect of SPR Release

Oil prices dropped on Wednesday after U.S. gasoline stocks fell more than expected last week, which could heighten pressure on the Biden administration to release oil from emergency reserves to cap soaring gasoline prices. U.S. West Texas Intermediate (WTI) crude futures fell 76 cents, or 0.9%, to $80.00 a barrel at 0211 GMT, extending a 12 cent loss from Tuesday. Brent crude futures fell 72 cents, or 0.9%, to $82.71, erasing a 38 cent gain...

Asian Markets Mixed, Investors React to Biden-Xi Talks

Shares in Asia-Pacific were mixed on Tuesday as investors reacted to a virtual meeting between U.S. President Joe Biden and Chinese President Xi Jinping. Hong Kong’s Hang Seng index closed 1.27% higher at 25,713.78. Shares of gaming hardware firm Razer in Hong Kong surged 11.46% after Reuters reported, citing sources, that executives at the firm are leading a consortium plan to value the company at up to 35 billion Hong Kong dollars (about $4.49 billion). Mainland Chinese stocks ended the trading day lower, with the Shanghai...

Oil Prices Edge Higher, on Tight Inventories

Oil rebounded from a weak start on Tuesday as worries over tight inventories underpinned prices, although optimism was limited by fears over demand following a pickup in COVID-19 cases in Europe. Brent futures added 96 cents, or 1.2%, to $83.01 a barrel, as of 0712 GMT. while U.S. West Texas Intermediate (WTI) crude climbed 80 cents, or 1%, to $81.68 a barrel. “At these oil prices, supply is going to grow but it might take...

Asia Pacific Socks Mixed, China Shares Trade Lower Despite economic Data Exceeding Expectations

Shares in Asia-Pacific were mixed on Monday as investors reacted to the latest Chinese economic data for October. Mainland Chinese stocks closed lower, with the Shanghai composite slipping 0.16% to 3,533.30 while the Shenzhen component dipped 0.469% to 14,636.39. Hong Kong’s Hang Seng index sat little changed, as of its final hour of trading. The losses in mainland China came despite Chinese economic data coming in better than expected. Data released Monday showed retail sales in China rose 4.9% year-on-year...

Oil Prices Slide as Supply Boost, Weaker Demand Fears Weigh

Crude oil prices skidded on Monday, under pressure from expectations of higher supplies and weakening demand. Brent crude futures fell 58 cents, or 0.7%, to $81.59 a barrel, as of 0151 GMT.  U.S. West Texas Intermediate (WTI) crude lost 58 cents, or 0.7%, to $80.21 a barrel. Both markets have dropped for the last three weeks, hit by a strengthening dollar and speculation that President Joe Biden’s administration might release oil from the U.S. Strategic Petroleum Reserve to cool prices. “The...

Asia-Pacific Stocks Rise; JD.com Shares in Hong Kong Surge

Shares in Asia-Pacific advanced on Friday as technology shares mostly rose, following overnight gains for their counterparts on Wall Street. Hong Kong-listed shares of JD.com soared nearly 5% following the Singles Day online shopping event, while Alibaba dropped 0.67%. Both companies set new sales records across their platforms on Singles Day. Meanwhile, Hong Kong-listed shares of Chinese chip maker Semiconductor Manufacturing International Corporation dropped 4.47% after the firm said a top executive and multiple board members resigned. The Hang Seng Tech index gained...

Oil Prices Edge Lower Backed by Higher Dollar in Volatile Week

Oil prices slipped on Friday, wiping out gains from the previous session, as the dollar continued to rise on bets the U.S. central bank will bring forward plans to raise rates to tame inflation. U.S. West Texas Intermediate (WTI) crude futures fell 58 cents, or 0.7%, to $81.01 a barrel at 0509 GMT, reversing Thursday’s 25 cent gain. Brent crude futures dropped 65 cents, or 0.8%, to $82.22 a barrel. “The greenback may hold its...

Asian Markets Mixed, Evergrande Group shares surge

Asia-Pacific stocks were mixed on Thursday after data released overnight showed U.S. consumer inflation spiked in October. Shares of China Evergrande Group listed in Hong Kong surged 6.75%, following a report from Chinese media outlet Cailianshe that several bondholders received coupon payments from the debt-ridden developer. Other real estate stocks in Hong Kong also rose, with China Vanke gaining 6.73% while Country Garden advanced 5.39%. The Hang Seng Properties index gained 2.65% to 31,674.34. The stock gains followed reports...

Oil Prices Edge Lower, Fueled by Inflation Fears

 Oil prices slumped on Thursday, hit by a surge in the dollar after U.S. President Joe Biden said his administration was looking for ways to reduce energy costs amid a broader surge in inflation. Brent and U.S. crude futures dropped sharply at the end of the session as traders sold out of riskier assets, including stocks and commodities, driven by expectations that central bankers will take steps to curb rising prices. Consumer inflation data on...

Asian Markets Mixed, Investors React to Chinese Inflation Data

 Shares in Asia-Pacific were mixed on Wednesday as investors reacted to the release of Chinese inflation data for October. Hong Kong’s Hang Seng index gained 0.74% to close at 24,996.14. Shares of Chinese real estate firm Fantasia Holdings in Hong Kong plunged 36.61% after returning to trade. Fantasia — whose Hong Kong-listed stock was suspended for more than a month — failed to repay a $206 million bond that matured in early October. Other real estate shares listed...

Oil Climbs on Surprise U.S. Crude Stocks Decline

Oil prices rose on Wednesday, extending strong gains in the previous session, after industry data showed U.S. crude stocks unexpectedly fell last week just as near term travel demand picked up with pandemic curbs easing. U.S. West Texas Intermediate (WTI) crude futures rose 23 cents, or 0.3%, to $84.38 a barrel at 0132 GMT, adding to a 2.7% gain on Tuesday. Brent crude futures jumped 36 cents, or 0.4%, to $85.14 a barrel, after rising 1.6% on Tuesday....

Asian Pacific Stocks Mixed, Investors React to China’s Trade Data

Shares in Asia-Pacific were mixed on Monday as investors reacted to China’s trade data released over the weekend. Mainland Chinese stocks recovered from earlier losses to close higher, with the Shanghai composite up 0.2% to 3,498.63 while the Shenzhen component climbed 0.32% to 14,508.86. Hong Kong’s Hang Seng index dipped around 0.4% as of its final hour of trading. South Korea’s Kospi closed 0.31% lower at 2,960.20. The Nikkei 225 in Japan slipped 0.35% to close at 29,507.05 while...

Oil Prices Rise More than 1% after Aramco Raises Crude Selling Price

Oil prices rose on Monday after Saudi Arabia’s state-owned oil producer Aramco raised the official selling price for its crude, suggesting demand remains strong at a time of tighter supplies. Brent crude was up by 90 cents or 1.1% at $83.64 a barrel, after dropping nearly 2% last week. U.S. oil gained 87 cents or 1.1% to $82.14, having declined almost 3% through Friday. Aramco late on Friday raised its December official selling price to...

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. It comes as rival developer Evergrande Group is still reeling under the weight of more than $300bn (£222bn) of debt....

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 a record. All three indexes posted weekly gains for their fifth straight weeks. The Labor Department report showed U.S. employment...

Asian Markets Mixed, Hong Kong Markets Decline 1.41% Leading Losses

Stocks in Asia-Pacific were mixed on Friday as shares in Hong Kong led to losses among the region’s major markets. Hong Kong’s Hang Seng index slipped 1.41% to finish the trading day at 24,870.51. Mainland Chinese stocks closed lower, with the Shanghai Composite down 1% to 3,491.57 while the Shenzhen component shed 0.637% to 14,462.62. Shares of Chinese property developers in Hong Kong fell. China Evergrande Group slipped 2.54% while China Vanke dropped 1.39% and Sunac China Holdings plunged 6.78%. The Hang Seng Properties index dipped...

Oil Gains Around 1% after OPEC+ Maintained Gradual Supply Plans

Oil prices rose around 1% on Friday, staging a partial recovery after OPEC+ producers rebuffed a U.S. call to raise supply and instead maintained plans for a gradual return of output halted by the pandemic. Brent crude rose 72 cents or 0.9% to $81.26 a barrel by around 0452 GMT, after falling nearly 2% on Thursday. U.S. oil gained 78 cents or 1.0% to $79.59 a barrel, having declined 2.5% in the previous session. OPEC+...

Asian Markets Rise Following Fed’s Decision to Start Tapering Pace of Bond Purchases

Shares in Asia-Pacific rose on Thursday following the U.S. Federal Reserve’s announcement that it will start tapering the pace of its bond purchases later in November. The Nikkei 225 in Japan closed 0.93% higher at 29,794.37 while the Topix index advanced 1.18% to 2,055.56. South Korea’s Kospi also climbed 0.25% on the day to 2,983.22. In mainland China, the Shanghai composite finished the trading day 0.81% higher at about 3,526.87 while the Shenzhen component jumped 1.305% to 14,555.27. Hong Kong’s Hang Seng index was up around 0.4%, as...

Oil Declines as Iran Nuclear Talks Set to Resume

Oil prices extended declines on Thursday after Iran and world powers agreed to resume nuclear talks this month that could lead to the removal of U.S. sanctions on Iranian oil, increasing global supplies. U.S. West Texas Intermediate crude slid for a third day to $80.18 a barrel by 0551 GMT, down 68 cents, or 0.8% after slipping under $80 earlier. Brent crude futures for January fell for a second session to $81.57 a barrel, down...

Asian Pacific Stocks Mixed, Shares of Kakao Pay surge in South Korea debut

Shares in Asia-Pacific were mixed on Wednesday as investors looked ahead to the end of the U.S. Federal Reserve’s two-day meeting for clues on tapering. In South Korea, the Kospi declined 1.25% to finish the trading day at 2,975.71. Shares of Kakao Pay surged in their Wednesday debut as they more than doubled from their issue price of 90,000 Korean won. By the Wednesday market close in South Korea, the stock had soared about 114% from its issue price. Kakao...

Oil Prices Edge Lower as Data Shows Unexpected Build in U.S Inventory

Oil prices fell on Wednesday as industry data pointed to a big build in crude oil and distillate stocks in the United States, the world’s largest oil consumer, and as pressure mounted on OPEC to increase supply. Brent crude futures fell 71 cents, or 0.9%, to $84.00 a barrel by 0450 GMT, after dropping to a session low of $83.27 earlier. U.S. West Texas Intermediate (WTI) crude futures tumbled $1.10, or 1.3%, to $82.81 a...

Asian Markets Mixed, Chinese Real Estate Stocks Slide Amid Renewed Fears

Shares in Asia-Pacific were mixed on Tuesday, as Hong Kong-listed shares of Chinese real estate firms fell amid renewed fears. By the market close in Hong Kong, China Evergrande Group’s stock fell 2.9% while China Vanke tanked by 4%, while Sunac China Holdings plunged 9.6%. The Hang Seng Properties index declined 0.99% to 30,203.36. The broader Hang Seng index in Hong Kong erased earlier gains and fell 0.22% to 25,099.67. On Monday, Moody’s downgraded developer Yango Group, warning the Chinese firm “may not...

Oil Prices Steady on Slow OPEC+ Output Increase

Oil prices were steady on Tuesday as key producer group OPEC undershot its expected pace of output increases last month, while the world’s top crude consumer China ramped up operating rates to meet a spike in diesel demand. Brent crude futures edged higher by 3 cents to $84.74 a barrel by 0507 GMT. while U.S. West Texas Intermediate (WTI) crude futures slipped by 7 cents, or 0.1%, to $83.98 a barrel. “Crude prices still seemed...

Asian Markets Mixed, Japan’s Nikkei 225 surges nearly 3%

 Shares in Asia-Pacific were mixed on Monday as investors reacted to economic data that showed a mixed picture of Chinese manufacturing activity in October. Japanese stocks led gains regionally as the Nikkei 225 jumped 2.61% to close at 29,647.08, with shares of Fast Retailing soaring 4.22%. The Topix index climbed 2.18% on the day to 2,044.72. Those gains came after the country’s ruling Liberal Democratic Party held on to its single-party majority in a Sunday parliamentary election. Hong Kong’s Hang Seng...

Oil Prices Edge Lower on China’s Fuel Reserves Release

 Oil prices dropped on Monday as China’s release of gasoline and diesel reserves eased concerns over tight global supply, while investors cashed in ahead of a Nov. 4 meeting of major crude producers that could increase future production targets. Brent crude futures dropped 29 cents, or 0.4%, to $83.43 a barrel by 0351 GMT, after gaining 6 cents on Friday. U.S. West Texas Intermediate (WTI) crude futures slid 40 cents, or 0.5%, to $83.17, having...

Asia – Pacific Markets Mixed; Trading on Razer Halted in Hong Kong Ahead of M&A Announcement.

Shares in Asia-Pacific were mixed on Friday as investors monitored stocks of Apple suppliers after the tech giant’s revenue miss. Mainland Chinese stocks closed higher as the Shanghai composite advanced 0.82% to 3,547.34 and the Shenzhen component gained 1.45% to 14,451.38. Hong Kong’s Hang Seng index shed 0.8%, as of its final hour of trading. Trading in the Hong Kong-listed shares of Razer was halted on Friday “pending the release of an announcement in relation to inside information of the...

Asia-Pacific Stocks Fall as Bank of Japan Holds Steady on Monetary Policy

Shares in Asia-Pacific were lower in Thursday trade as the Bank of Japan announced its decision to hold steady on monetary policy. The Nikkei 225 in Japan declined 1.05% while the Topix index shed 0.69%. Retail sales in Japan fell 0.6% in September from a year earlier, according to government data released Thursday. The Bank of Japan kept interest rate targets unchanged on Thursday and the central bank cut its real GDP growth outlook and consumer inflation forecasts for...

Oil Slumps to two-week low on U.S. inventory shock, COVID-19 case rise

Oil prices slumped to their lowest in two weeks after official figures showed a surprise jump in U.S. inventories of crude, and rising cases of COVID-19 in Europe, Russia, and some outbreaks of infections in China dented hopes for an economic recovery. Brent crude dropped $1.58, or 1.9%, to $83.00 a barrel by 0502 GMT, having hit a two-week low of $82.32 earlier and fallen by 2.1% in the previous session. U.S. oil fell $1.39,...

Asian Markets Edge Lower, Hong Kong Markets Lead Losses.

 Shares in Asia-Pacific were lower on Wednesday, with Chinese tech stocks in Hong Kong seeing big losses. Hong Kong-listed shares of Tencent dropped 2.99% on Wednesday while Alibaba fell 2.95% and Meituan plunged 5.09%. The Hang Seng Tech index slipped 3.19% to 6,441.62. The broader Hang Seng index in Hong Kong led losses among the region’s major markets, falling 1.57% to close at 25,628.74. Mainland Chinese stocks declined on the day, with the Shanghai composite shedding 0.98% to 3,562.31 and the Shenzhen component falling 1.095% to...

Oil Prices Decline by 0.8% Amidst Increase in U.S Fuel Stockpiles

Oil prices fell on Wednesday after industry data showed crude oil stockpiles rose more than expected and fuel inventories unexpectedly increased last week in the United States, the world’s largest oil consumer. Brent oil futures fell 69 cents, or 0.8%, to $85.71 a barrel by 0559 GMT after closing at the highest in seven years on Tuesday. West Texas Intermediate (WTI) futures declined 79 cents, or 0.9%, to $83.86 a barrel after gaining 1.1% in...

Asian Markets Mixed, Nikkei 225 Surges Nearly 2%

Stocks in Asia-Pacific were mixed on Tuesday after major indexes on Wall Street rose to record closing highs stateside. Japanese stocks led gains regionally as the Nikkei 225 jumped 1.77% to close at 29,106.01 while the Topix index gained 1.15% to 2,018.40. South Korea’s Kospi advanced 0.94%, closing at 3,049.08. South Korea’s gross domestic product grew 0.3% on a seasonally adjusted basis in the third quarter of 2021 as compared with the previous quarter, data showed Tuesday. That was lower than...

Oil Prices Edge Higher as Traders Await Stocks Data

Oil prices edged higher on Tuesday after trading down earlier, looking set to sustain a rally driven by strong demand in the United States, the world’s biggest consumer of crude and its products. Brent crude was up 13 cents or 0.2% at $86.12 a barrel by 0427 GMT, after gaining 0.5% on Monday. U.S. oil gained 5 cents or 0.1% to $83.81 a barrel, having finished unchanged the previous session after testing new highs. While...

Asian Pacific Stocks Mixed, HSBC Earnings Beat Expectations;

Shares in Asia-Pacific were mixed on Monday as investors reacted to the release of HSBC earnings. Hong Kong’s Hang Seng index closed little changed at 26,132.03. Hong Kong-listed shares of HSBC rose 0.43% after the bank on Monday reported a pre-tax profit in the third quarter of 2021 that bested expectations. Shares of embattled developer China Evergrande Group declined 0.74% by the Hong Kong market close after surging nearly 6% earlier. The firm announced Sunday it had resumed work on more than...

Oil Prices Edge Higher to Multi-year Highs on Tight Supply

Oil prices climbed on Monday, extending pre-weekend gains to hit multi-year highs as global supply remained tight amid solid fuel demand in the United States and elsewhere in the world as economies pick up from coronavirus pandemic-induced slumps. U.S. West Texas Intermediate (WTI) crude futures rose 87 cents, or 1.0%, to $84.63 a barrel at 0342 GMT, after gaining 1.5% on Friday. It touched its highest since October 2014 – $84.76 – earlier in the...

Asian Markets Mixed, Hong Kong Shares Surge

Asia-Pacific markets were mixed on Friday, as shares of China Evergrande Group surged in Hong Kong following media reports that the embattled developer is set to pay off a coupon payment on a dollar-denominated bond. Shares of Evergrande in Hong Kong surged 4.26% on Friday. Evergrande Property Services Group also saw its stock jump 1.7%. The Hang Seng Properties index advanced 1.4% to 31,928.03. The broader Hang Seng index in the city rose 0.42% on the day to 26,126.93. Mainland Chinese...

Oil Prices Edge Lower, Brent Crude at $84 ,its First Weekly Dip in Seven Weeks

Oil prices fell on Friday with Brent on track for its first weekly dip in seven weeks as demand for oil products in power generation cooled off amid easing coal and gas prices, while a forecast for a mild U.S. winter also weighed on the market. Brent crude futures dropped 48 cents, or 0.6%, to $84.13 a barrel at 0502 GMT, extending a $1.21 slump in the previous session. Brent touched a three-year high of...

Asian Markets Mixed, Japan’s Nikkei 225 Drop Nearly 2%

Stocks in Asia-Pacific were mixed on Thursday, as investors monitored shares of developer China Evergrande Group in Hong Kong. Evergrande shares dropped 12.54%, having returned to trade on Thursday after a halt that lasted more than two weeks. In Japan, the Nikkei 225 led losses among the region’s markets as it slipped 1.87% to close at 28,708.58 while the Topix index fell 1.32% to 2,000.81. South Korea’s Kospi edged 0.19% lower, closing at 3,007.33. The debt-laden firm announced in an...

Oil Prices Mixed, as U.S Demand Underpins Market Sentiments

Oil prices were mixed on Thursday, paring earlier gains, as some investors scooped up profits from the recent rally while solid demand in the United States and a switch to fuel oil from coal and gas amid surging prices underpinned the market sentiment. Brent crude futures fell 11 cents, or 0.1%, to $85.71 a barrel at 0355 GMT, reversing earlier gains that took the benchmark to the highest since October 2018. It rose 0.9% the...

Asian Pacific Stocks Mixed, China Maintains Benchmark Lending Rate

Shares in Asia-Pacific were mixed in Wednesday trade as China kept its benchmark lending rate unchanged. The Hang Seng index in Hong Kong rose 1.1% as of its final hour of trading, leading to gains among major markets in the region. Shares of Chinese tech firms listed in the city surged, with Tencent up 1.6% while Alibaba soared 6.92% and Meituan jumped 3.29%. The Hang Seng Tech index also gained 2.69%. Mainland Chinese stocks closed lower, with the Shanghai composite slipping 0.17% to...

Oil Slips, China Considers Intervention to Ease Coal Crunch

Oil prices slipped on Wednesday after the Chinese government stepped up efforts to tame record high coal prices and ensure coal mines operate at full capacity as Beijing moved to ease a power shortage. Brent crude futures dropped 43 cents, or 0.5%, to $84.65 a barrel at 0506 GMT, paring a 75-cent rise in the previous session, but still lingering close to multi-year highs. U.S. West Texas Intermediate (WTI) crude futures for November, which expires on Wednesday,...

Oil prices Edge Higher on China Energy Demand Concerns

Oil prices rose on Tuesday, recouping earlier losses, as falling temperatures in China, the world’s biggest energy consumer, revived concerns about its ability to meet heating demand needs amid power and coal shortages. Brent crude rose 24 cents, or 0.3%, to $84.57 a barrel by 0541 GMT after falling 0.6% on Monday. The contract is still up nearly 7% this month. U.S. West Texas Intermediate futures gained 35 cents, or 0.4%, to $82.79 a barrel,...

Oil Prices Climb to the highest since 2014 as Recovery from COVID-19 Boost Demand

Oil prices hit their highest in years on Monday as demand continues its recovery from the Covid-19 pandemic, boosted by more custom from power generators turning away from expensive gas and coal to fuel oil and diesel. Brent crude oil futures rose 87 cents, or 1%, to $85.73 a barrel by 0111 GMT, the highest price since October 2018. U.S. West Texas Intermediate (WTI) crude futures climbed $1.12, or 1.4%, to $83.40 a barrel, the highest since October 2014....

Asian Pacific Stocks Rise, Taiwan’s Taiex Leads Gains

Shares in Asia-Pacific rose on Friday following overnight gains on Wall Street with the S&P 500 jumping nearly 2%. The Taiex in Taiwan surged 2.4% on the day to 16,781.19, leading gains among the region’s major markets, as shares of Taiwan Semiconductor Manufacturing Company rose 4.71% following an earnings release a day earlier. TSMC on Thursday reported a net profit of 156.3 billion Taiwan dollars (around $5.57 billion) for the third quarter ended Sept. 30, above expectations of a...

Oil Extends Gains on Power Boost, Set for Multi-Week Gains

 Oil prices climbed on Friday, heading for gains of more than 2% for the week, on increasing signs of robust demand and tighter supplies over the next few months as rocketing gas and coal prices stoke a switch to oil products. Brent crude futures rose 62 cents, or 0.7%, to $84.62 a barrel at 0622 GMT, after picking up 82 cents in the previous session. Front-month prices are set to rise for the sixth straight...

Oil Edges Higher, on Expectations Natural Gas Prices May Drive Switch to Oil

Oil prices rose on Thursday, reversing previous losses, on expectations that high natural gas prices as winter approaches may drive a switch to oil to meet heating demand needs. Brent crude futures gained 28 cents, or 0.3%, to $83.46 a barrel at 0107 GMT after falling 0.3% on Wednesday. U.S. West Texas Intermediate (WTI) crude futures climbed 22 cents, or 0.3%, to $80.66 a barrel, after dropping 0.3% the previous day. “Investors bet that surging gas prices will encourage...

Nasdaq, S&P 500 Post Gains as JP Morgan Kicks off Earnings Season.

The S&P 500 and Nasdaq ended higher on Wednesday, led by gains in shares of big growth names like Amazon.com and Microsoft, but JPMorgan shares fell along with other bank shares and weighed on the market. The S&P 500 briefly added to gains following the release of minutes from the September Federal Reserve policy meeting. U.S. central bankers signalled they could start reducing crisis-era support for the economy in mid-November, though they remained divided over...

Asian Markets Edge Higher as Investors React to China’s Trade Data for September

Asian Pacific stocks closed higher as shares in mainland China edged higher on Wednesday as investors reacted to the release of Chinese trade data for September. The Shanghai Composite gained 0.42% to 3,561.76 while the Shenzhen component rose 1.54% to 14,353.08. China’s imports rose 17.6% from a year earlier in September, customs data showed Wednesday, missing expectations for a 20% expansion in a Reuters poll. Exports in September rose 28.1% from a year earlier in September, the data showed, exceeding...

Oil Edges Lower on Fears that Inflation may Affect Demand

Oil prices dropped on Wednesday, after a mixed finish in the previous session, amid worries that soaring coal and natural gas prices in China, India and Europe will stoke inflation and slow global growth, reducing demand. A strong U.S. dollar, trading near a one-year high, also weighed on oil prices, as it makes fuel more expensive for those holding other currencies. U.S. West Texas Intermediate (WTI) crude futures fell 71 cents, or 0.9%, to $79.93...

Asian Markets Edge Lower as Major Indexes Fall More than 1%

Shares in Asia-Pacific tumbled on Tuesday, with major indexes in China and South Korea falling at least 1%. The Hang Seng index in Hong Kong dropped 1.43% to close at 24,962.59. Shares of China Evergrande New Energy Vehicle, on the other hand, surged 4.56% after the firm vowed on Monday to start producing electric vehicles next year. The company is linked to debt-laden developer Evergrande, which has already missed multiple coupon payments for its bonds in recent weeks. Mainland...

Oil Prices Decline 0.3%, Amidst Global Energy Crisis

 Oil prices fell for the first time in four days on Tuesday, taking a breather, analysts said, after weeks of gains fuelled by a rebound in global demand that is contributing to energy shortages in economies from Europe to Asia. Brent crude was down 26 cents, or 0.3%, at $83.39 a barrel at 0211 GMT, after touching three-year highs on Monday on the way to a 1.5% advance. U.S. oil fell 33 cents, or 0.4%,...

Asian Pacific Stocks Mixed, Hang Seng Index Surges more than 7%

Shares in Asia-Pacific were mixed in Monday trade as stocks in Hong Kong led gains regionally. Hong Kong’s Hang Seng index rose 1.84%, as of its final hour of trading. Shares of Meituan in Hong Kong surged 7.27%. China’s market regulator on Friday said it had fined the company about 3.4 billion Chinese yuan ($527.71 million) after finding it guilty of monopolistic practices. Still, that was far smaller than the 18.23 billion yuan ($2.8 billion) fine that Alibaba had been slapped with...

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, the highest since late 2014. U.S. crude rose 4.6% through Friday. Prices have risen as more vaccinated populations are brought...

Oil Edges Lower Amidst Unexpected Rise in U.S Crude Inventories

Oil prices dropped for a second session Thursday, under pressure from an unexpected rise in U.S. crude stocks that raised concerns over demand after prices rallied to multi-year highs. U.S. crude dipped 0.34% to $77.17 a barrel, extending a fall from late on Wednesday after hitting a seven-year high of $79.78 earlier that day. Brent crude was steady at $81.04 per barrel, off its three-year high of $83.47 also hit on Wednesday. “Commercial stockpiles of...

Wall Street Closes Higher Backed by Growing Optimism Over U.S. Debt-Ceiling Deal

Wall Street ended higher on Wednesday as investors grew more optimistic that congressional Democrats and Republicans could reach a deal to avert a government debt default. Top U.S. Senate Republican Mitch McConnell said his party would support an extension of the federal debt ceiling into December. This would head off a historic default that would exact a heavy economic toll. “McConnell made some dovish comments about temporarily extending the debt ceiling,” said Jay Hatfield, founder...

Asian Markets Decline, Japan’s Nikkei 225 Falls

Shares in Asia-Pacific were mostly lower on Wednesday, with major indexes in Japan and South Korea leading losses regionally. Japan’s Nikkei 225 shed earlier gains, falling 1.05% to close at 27,528.87, while the Topix index dipped 0.3% on the day to 1,941.91. South Korea’s Kospi slipped 1.82%, closing at 2,908.31. Hong Kong’s Hang Seng index declined 0.6%, as of its final hour of trading. Shares in Australia also dipped, with the S&P/ASX 200 falling 0.58% to close at 7,206.50. In Southeast Asia,...

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