OPEC+ sticks with planned oil production hike, supply concerns linger

OPEC + has been slowly returning the nearly 10 million barrels per day it agreed to pull from the market in April 2020. Mazen Mahdi | Afp | Getty Images A group of some of the world’s most powerful oil producers on Thursday agreed to stick to a planned output increase in August, defying calls … Read more

China PMI data, stocks, currencies, oil

SINGAPORE – Chinese markets rose on Thursday as government data showed factory activity grew in June, but most other Asia-Pacific indexes fell. Mainland China’s markets traded higher. The Shanghai Composite advanced 0.37%, and the Shenzhen Component gained 1%. The Hang Seng index in Hong Kong was up 0.13%. Shares of artificial intelligence software company SenseTime … Read more

Asia markets: Stocks, earnings currencies, oil

SINGAPORE – Shares in the Asia-Pacific region were mixed on Tuesday as investors weigh economic concerns. Hong Kong’s Hang Seng index fell 0.86%, while the Hang Seng Tech index slipped 1.67%. Technology investor Prosus NV will sell some of its stake in Tencent to fund a stock buyback of itself and parent Naspers, the Dutch … Read more

Goldman says buy the pullback in oil and other commodities

Commodities’ blistering rally has cooled in recent weeks as recession fears hit the outlook for future demand, and Goldman Sachs believes the pullback is a buying opportunity. Jeff Currie, Goldman’s global head of commodities research, told “Squawk Box” on Monday that the setup across the energy sector is “incredibly bullish.” “At the core of our … Read more

Dan Yergin on oil prices falling despite tight supply, Russia tensions

Energy expert Dan Yergin said there are two reasons why oil prices have dropped in the past month despite a market that is still tight: the Fed and Russia’s war in Ukraine. Oil prices had been increasing since last year, spiking to highs after Russia launched an unprovoked war on Ukraine. But since the end … Read more

Currencies, oil, Wall Street, stock debut

SINGAPORE – Shares in the Asia-Pacific region were higher on Friday as investors weigh recession fears. Hong Kong’s Hang Seng index jumped 1% in early trade, with the Hang Seng Tech index rising 1.7%. Logistics company GoGoX climbed as high as 22.90 Hong Kong dollars ($ 2.92) in its stock market debut in the city. … Read more

Russia’s ruble is at strongest level in 7 years despite sanctions

Russian one ruble coin and Russian flag displayed on a screen are seen in this multiple exposure illustration photo taken in Krakow, Poland on March 8, 2022. Jakub Porzycki | Nurphoto | Getty Images Russia’s ruble hit 52.3 to the dollar on Wednesday, an increase of roughly 1.3% on the previous day and its strongest … Read more

recession fears, oil prices, currencies

SINGAPORE – Shares in the Asia-Pacific were higher on Thursday as investors continued to monitor recession concerns. Hong Kong’s Hang Seng index jumped 1.15% in early trade, with the Hang Seng Tech index rising nearly 2%. Mainland Chinese markets traded higher. The Shanghai Composite was up 0.16%, and the Shenzhen Component was 0.64% higher. The … Read more

European markets open to close, earnings, data, central banks

LONDON – European stocks are expected to open in negative territory on Wednesday, giving up gains made in the previous session amid more positive global sentiment. The UK’s FTSE index is expected to open 45 points lower at 7,103, Germany’s DAX 112 points lower at 13,180, France’s CAC 40 down 56 points at 5,906, and … Read more

Australia RBA meeting minutes, oil and currencies

SINGAPORE – Asia-Pacific markets were mostly buoyant in early trade on Tuesday while bitcoin continued to rise after a recent rebound. Meanwhile, Australia’s central bank is poised to release meeting minutes in the morning. Japan’s Nikkei 225 was 1.19% higher in early trade while the Topix rose by 1.2%. The Kospi in South Korea was … Read more