Роман Евдокимов

Roman is a specialist with comprehensive knowledge of economic disciplines and the theory of market mechanisms. He has worked with various indicators and factors affecting traders’ profit.

Roman conducts a detailed analysis of objects to invest in them.

Oil slips but still set for weekly gain

Oil prices dropped on Friday amid an increase in supplies in the U.S. Gulf of Mexico. However, both benchmark contracts are still poised to post weekly gains of around 4% as output recovery slowed down demand. Brent crude futures edged down 0.2%, or 17 cents, to $75.50 a barrel at 0359 GMT, losing most of […]

Australia’s employment weakens on shorter work hours

Employment in Australia declined in August following the COVID-19 lockdowns in Sydney and Melbourne, which prompted companies to lay off staff and cut hours. However, a significant drop in the number of individuals looking for work resulted in a fall in the unemployment rate. Based on the data released by the Australian Bureau of Statistics […]

Dollar declines, investors await Fed taper timeline

The dollar dropped on Thursday morning in Asia. Investors remain in anticipation of the United States’ Federal Reserve’s latest policy decision, which will be released next week and would provide hints on the start of asset tapering. The U.S. Dollar Index that measures the greenback against other major currencies tallied a 0.05% crash to 92.485 by 11:57 […]

Indonesia posts strong exports, trade surplus

Exports in Indonesia touched a record high of $21.42 billion in August. Data from the statistics bureau showed that an increase in commodity shipments drove the country’s highest monthly trade surplus in record. Shipments in August climbed 64.1% from a year earlier, exceeding analysts’ forecast of a 36.90% gain. Sales in Indonesia’s top commodities like […]

SoKor unemployment drops to record low

South Korea’s unemployment level hit record lows, indicating that the country’s recovery from the COVID-19 pandemic is still on track. However, a breakdown of the data showed that labor conditions in the key manufacturing sector remained weak. Statistics Korea’s data showed on Wednesday that the seasonally adjusted unemployment rate in August fell to 2.8%, the […]

Dollar declines, investors await U.S. inflation data

The dollar dropped on Tuesday morning in Asia. Investors now anticipate the latest United States inflation data for hints on the start of the Federal Reserve’s asset tapering. The U.S. Dollar Index that measures the greenback against other major currencies declined 0.06% to 92.597 by 10:21 PM ET (2:21 AM GMT). The USD/JPY pair gained 0.10% to 110.08. The AUD/USD pair […]

Asian shares dip amid U.S., China reports

Asian shares went off with a poor start on Monday, facing a week packed with major U.S. and China economic data. Japan’s Nikkei stopped just short of a height last attained in 1990. Hopes for renewed stimulus from a new prime minister boosted the Nikkei by 4.3% during the previous week, while Topix reached the […]

Factory prices in China expands at the fastest rate in 13 years

China’s factory gate inflation soared to a 13-year high in August despite Beijing’s efforts to lower commodity prices. The National Bureau of Statistics (NBS) reported a 9.5% increase in the producer price index (PPI) from a year earlier. The latest figure exceeded analysts’ forecast and July’s reading of both 9.0%. It was also the fastest […]

Asian stocks down as investors await Chinese data

Asia Pacific stocks were largely down on Tuesday morning as investors await Chinese trade data and Japanese shares continued their bullish run. China’s Shanghai Composite dipped 0.11% by 9:33 PM ET (1:45 AM GMT), while the Shenzhen Component remained flat at 14,565.60. Investors are anticipating trade data, including imports, exports, and the trade balance, due […]

Euro stocks soar, boosted by sector gains

European stocks climbed higher on Thursday, boosted by travel companies and automakers. However, gains were capped across the board by doubts over the monetary policy outlook and indications of slowing global growth. The pan-European STOXX 600 index inched up 0.2% even as Asian shares edged down amid worries over China’s economy following a run of […]

COVID-19 disrupts Brazil’s economic rebound

Brazil saw an economic contraction in the three months to June following the coronavirus pandemic’s blow on demand, according to government statistics agency IBGE. Brazil’s gross domestic product dropped 0.1%, missing economists’ median forecast growth of 0.2%. The figure was also a sharp decline from the first quarter’s 1.2% expansion. COVID-19 restrictions in major cities […]

Australia home costs surge in August

Home prices in Australia climbed in August, touching the fastest annual rate since 1989. The growth was attributed to COVID-19 restrictions that hit supply, making houses unffordable for many. National home prices increased 1.5% based on the data released by property consultant CoreLogic on Wednesday. It soared 20.8% due to a pandemic-driven move to work […]

Oil up ahead of OPEC+ meet

Oil climbed up on Wednesday in Asia ahead of an Organization of Petroleum Exporting Countries and allies (OPEC+) meeting. Investors are waiting for the oil group’s decision on whether to retain its supply plan while mulling over the rising numbers of COVID-19 cases in Asia and the recent hurricane’s damage in the Gulf of Mexico. […]

Oil sinks on hurricane-beaten Louisiana

Oil prices dropped on Tuesday following Hurricane Ida’s landfall on Louisiana. Ida’s touchdown on Louisiana raised concerns that power outages and flooding in the state will cut crude from refineries at the same time that global producers intend to increase production. Brent crude futures for October, set to expire on Tuesday, dipped 0.6%, or 46 […]

Japan’s retail sales sustain gain in July

Japan’s retail sales increased for five consecutive months and exceeded expectations in July. The consumer sector continues to bounce back, but a coronavirus resurgence raised uncertainties on the spending outlook. Retail sales climbed 2.4% from a year earlier, an increase from June’s 0.1% gain. The latest figure beat an economists’ median forecast of 2.1%. Retail […]

Dollar drops as Powell releases dovish stand on bond tapering

The dollar opened the trading week with a poor performance on Monday morning in Asia. This came after a dovish statement on bond tapering from the United States’ Federal Reserve Chairman Jerome Powell during the Jackson Hole symposium on Friday. The U.S. Dollar Index that measures the greenback against other major currencies declined 0.06% to 92.640 by […]

Asian shares up but investors wary of China

Asian shares went up on Monday as the dollar hit a two-week low. The rise followed US Fed Chairman Jerome Powell’s dovish tone at the Central Bank’s Jackson Hole symposium. However, investors are still cautious about prospects in China. MSCI’s broadest index of Asia-Pacific shares outside Japan jumped 0.45%, while Japan’s Nikkei climbed up 0.28%. […]

Gold down, investors cautious, ahead of Fed symposium

Gold fell on Thursday in Asia, with investors treading lightly ahead of a US Fed symposium that could give clues on the timeline for asset tapering. Gold futures edged down 0.10% to $1,789.15 by 12:16 AM ET (4:16 AM GMT). The yellow metal’s futures dropped 0.7% in the previous session, the largest one-day decline in […]

Dollar rises as Delta concerns ease

The dollar climbed on Wednesday morning in Asia but hovered near a one-week low. Investors withdrew from the greenback as COVID-19 fears that muddled prospects in economic rebound faded. The U.S. Dollar Index that measures the dollar against other major currencies nudged 0.16% higher to 93.045 by 11:12 PM ET (3:12 AM GMT).  The USD/JPY pair jumped 0.17% to […]

Euro stocks extend recovery

European stocks sustained their recovery on Tuesday following the full US approval of a COVID-19 vaccine. The vaccine’s approval lifted Wall Street to record highs, while the latest data showed a stronger-than-expected economic recovery in Germany. The pan-European STOXX 600 index went up 0.3% by 0711 GMT after the previous week’s selloff knocked it lower […]

Gold down but remains above $1,800 mark

Gold dropped on Tuesday in Asia but hovered above the $1,800 level. Hopes are also being kindled that the US Federal Reserve could prolong its planned asset tapering due to the continually rising numbers of COVID-19 cases. Gold futures plummeted 0.17% to $1,803.25 by 12:12 AM ET (4:12 AM GMT) after making about 1.4% gains […]

Dollar drops, riskier currencies posts gains

The dollar weakened on Monday morning in Asia, though it placed near the highest level in more than nine months. The Australian dollar stayed near multi-month lows due to lingering concerns on the COVID-19’s impact to economic recovery. The U.S. Dollar Index that measures the greenback against other major currencies dropped 0.17% to 93.352 by 10:27 PM […]

Oil up as investors begin bargain-hunt

Oil rose in Asia on Monday, reversing its course from last week’s seven-day losing streak. Investors were preoccupied with bargain hunting, but questions remain on how the continually increasing numbers of COVID-19 cases globally will affect fuel demand. Brent oil futures soared 1.30% to $65.59 by 10:58 PM ET (2:58 AM GMT), after reaching their […]

Oil up but still poised for 5% weekly loss

Oil prices stabilized on Friday, moving away from three-month lows, but were still poised for a weekly loss of over 5% as new lockdowns in countries battling the rising cases of COVID-19 Delta variant darkened fuel demand outlook. Broader investor risk aversion also weighed on oil, with the dollar climbing to a nine-month high amid […]

Economists expect growth in UK home prices

British home prices will continue to accelerate over the next few years. The growth will be attributed to low borrowing costs, supply shortages, and people’s demand for larger space, a Reuters poll of analysts showed. Economists expected house prices to climb 6.0% this year, 3.5% in 2022, and 3.0% in 2023, well beyond inflation projections. […]

Dollar climbs over hints on early Fed taper

The dollar touched a nine-month high versus other major currencies in early European trade on Thursday. This came as the Federal Reserve hinted on reducing its monetary support this year. The Dollar Index that measures the greenback against other counterparts jumped 0.4% to 93.460 at 2:55 AM ET (0755 GMT). It placed marginally lower than […]

Oil rises, gains dampened by demand outlook

Oil went up in Asia on Wednesday, even as the black liquid experienced its fifth day of decline. The fuel demand outlook remains dark, as restrictions put up to combat the rise in COVID-19 cases globally also keep transport usage levels low. Brent oil futures crept up 0.07% to $69.08 by 11:01 PM ET (3:01 […]

Asian shares veer away from year lows, NZ maintains rates

Asian shares crept away from near year-to-date lows on Wednesday despite Wall Street’s overnight declines. Meanwhile, New Zealand’s central bank beat expectations by not increasing interest rates as the country went into lockdown due to cases of the coronavirus’ Delta variant. The New Zealand dollar hit a nine-month low of $0.6868 after the Reserve Bank […]

China’s factory output, retail sales miss forecasts

China’s factory output and retail sales fell short of expectations after sharply slowing in July. This was owed to the latest surge of COVID-19 outbreaks and floods that grappled business operations and disrupted the economy’s recovery. The country’s industrial production jumped 6.4% year-on-year in July based on the data from the National Bureau of Statistics […]

Asian shares drop amid China’s sluggish economy

Asian shares fell on Monday, after a release of Chinese data showed sharp retardation in the engine of global growth. The country’s economic slowdown happened just as much of the world rush to curb the spread of the coronavirus’ Delta variant with vaccinations. Figures on July retail sales, industrial production, and urban investment have all […]

Oil sinks amid China’s economic slowdown

Oil went down by more than 1% on Monday, dropping for a third session after official data revealed a sluggish Chinese economy. The official data showed a slowdown in China’s refining throughput and economic activity, indicating that the recent COVID-19 outbreaks are hindering the country’s economy. Brent crude fell 1.1%, or 75 cents, to trade […]

Oil drops amid US call for output boost

Oil went down on Thursday in Asia after its two-day gain. The black liquid suffered a setback after the US, the top oil consumer globally, called for major producers to increase output. This bolstered supply concerns as economies ease COVID-19 restrictions. Brent crude futures fell 0.2%, or 17 cents, to $71.27 a barrel by 0650 […]

Gold falters as inflation moderates

Gold tumbled following its largest gain in three months, as softening US inflation darkened the outlook for when the US Federal Reserve may start easing stimulus. Data released on Wednesday showed US consumer prices went up at a slower pace last month than in June. This prompted a move higher for gold as worries over […]

Dollar rises amid talks on Fed asset taper

The dollar climbed on Wednesday morning in Asia. Investors now brace for United States’ inflation report with huge expectations that strong data would result in an earlier-than-expected asset tapering by the Federal Reserve. The U.S. Dollar Index that measures the greenback against other major currencies nudged 0.01% higher to 93.062 by 12: 28 AM ET (4:28 AM […]

Australia’s lockdowns hit consumer confidence

Australia’s consumer confidence fell this month. However, the decline was not as sharp as some had predicted, considering Australia’s two largest cities’ stay-at-home orders due to a surge in the COVID-19 Delta variant. Westpac Banking Corp. on Wednesday reported the sentiment index dropped 4.4% to 104.1 points in August, touching the lowest point in a […]

Asian stocks wobble amid virus concerns

Asian stocks went off with a weak start on Tuesday following a mostly soft performance on Wall Street. The region’s stocks have also been affected by mounting concerns over the spread of the COVID-19 Delta variant, which dampened sentiment and triggered declines in metals and oil prices.  MSCI’s broadest index of Asia-Pacific shares outside of […]

Oil rebounds from three-week low, kept in check by virus concerns

Oil went up by more than 1% on Tuesday, recovering from its losses earlier in the previous session where it hit a three-week low. However, the black liquid’s gains are likely to be hampered by concerns over the increasing number of COVID-19 cases and fears that China’s restrictions will affect fuel demand. Brent crude gained […]

Japan’s slow growth in bank lending alleviates cash crisis

Japan’s bank lending increased at the slowest annual rate in July. The reading indicated the gradual recovery of businesses from last year’s pandemic-driven cash shortage. The Bank of Japan on Tuesday showed a 1.0% jump in total bank lending in July from a year earlier. The figure was slower than a 1.4% mark in June, […]

China’s July factory price acceleration troubles businesses

China’s factory gate prices increased at a higher rate in July compared with the previous month, beating analyst predictions. The development added concerns on businesses already grappling with high raw material costs. Meanwhile, consumer inflation marginally slowed in the country. The producer price index (PPI) hit the May peak with a 9.0% growth from a […]

SG banks beat profit estimates, face slow growth

Singaporean lenders Oversea-Chinese Banking Corp (OCBC) and United Overseas Bank (UOB) have beaten profit estimates, boosted by core markets recovery. However, the banks’ sequential performance has slowed sharply, highlighting challenges to maintain growth. Singapore’s recovering economy has boosted the demand for mortgages and loans, improving prospects in the country’s banking sector. The country’s flourishing markets […]

Gold up as dollar inches down, investors await US data

Gold went up in Asia on Wednesday, boosted by a weakening dollar. Meanwhile, investors continue to wait for the release of the latest US jobs data. Gold futures crept up 0.09% to $1,815.80 by 12:49 AM ET (4:49 AM GMT). The dollar, typically moving inversely to gold, dipped on Wednesday and approached recent lows. Going […]

Indonesia’s GDP grows in Q2

Indonesia’s economic growth is seen to hit more than 6% in the second quarter. However, the resurgence of COVID-19 infections in June muddles the outlook in the succeeding quarters. The country’s gross domestic product (GDP) grew 6.57% in April-June on an annual basis, the first expansion in five years. The figure is also the fastest […]

Dollar rises after dropping over dovish sentiments

The dollar climbed on Friday in early European trade. However, the Federal Reserve’s dovish policy decision and some disappointing growth figures may result in a negative week for the greenback. The Dollar Index that measures the greenback against other major currencies jumped 0.1% to 91.998. It earlier dropped to a one-month low of 91.855 on […]

Oil approaches weekly gain amid investors’ confidence on demand resilience

Oil was set for its second weekly gain as investors wager the demand recovery will remain largely unaffected by the recent surge of COVID-19 cases. Futures in New York inched lower on Friday, but have gained around 2% in the week, boosted by a broader market rally and the dollar’s weakness. The recovery of key […]

Gold down but edges close to two-week high

Gold fell on Friday in Asia but remained near a two-week high. The safe-haven asset is poised to end the week with its largest gains since May 21, amid signs of the Fed’s unlikeliness to begin asset tapering and hike interest rates in the short term. Gold futures climbed down 0.12% to $1,829 by 11:50 […]

Japan stocks gain, boosted by sectors’ growth

Japanese stocks went up after Thursday’s close, as growth in the Paper & Pulp, Railway & Bus, and Real Estate sectors boosted shares. At Tokyo’s close, the Nikkei 225 jumped 0.73% The Japanese index’s best performers of the session were Advantest Corp., which flew 7.33% or 670.0 points to trade at 9810.0 at the close. […]

U.S. new home sales hit 14-month low in June

The United States saw its sales in single-family homes decline in June, touching a 14-month low. Meanwhile the preceding month’s sale was also lower than expected. This was owed mainly to a surge in property prices caused by expensive building materials. Data from the Commerce Department showed a 6.6% drop in new home sales to […]

Asian equities up as investors anticipate Fed meeting, US company earnings

Asian equities went up on Tuesday following the previous day’s year to date low, with traders keeping watch on the US where key companies would be reporting earnings and the Federal Reserve would meet to discuss policy within the week. MSCI’s broadest index of Asia-Pacific shares outside Japan climbed up 0.26% after hitting its lowest […]

Car chip shortage to end in 2022, smartphones seen to be hit next

Automotive industry executives said the global semiconductor shortage could last until the second quarter of 2022. However, smartphone production is seen to be hit next, indicative of a possible shortage in supply of appliances and industrial equipment. Chief economist Iris Pang of ING Greater China shared the automotive sector has been hit the hardest this […]

Oil steady, remains above $70 a barrel

Oil retained its two-day gain above $70 a barrel, boosted by a decrease in US fuel and distillate stockpiles and a broader market rally. West Texas Intermediate held steady in early Asian trading after an increase of over 4% on Wednesday. Gains in equities emboldened investors, spurring their appetite for risk despite global worries about […]

Asian stocks rise, boosted by US earnings

Asia Pacific stocks rose on Thursday morning, riding the impetus brought by positive US company earnings that alleviated worries about the global economic recovery from the COVID-19 pandemic. South Korea’s KOSPI went up 0.97% by 10:23 PM ET (2:23 AM GMT). Meanwhile, Hong Kong’s Hang Seng climbed up 1.74% as China’s Shanghai Composite and Shenzhen […]

Dollar climbs, takes a break from upward trend

The dollar climbed on Wednesday morning in Asia but slightly declined from multi-month peaks. The previous boost from risk aversion receded, while selling was weak ahead of the European Central Bank (ECB)’s new monetary policy that kept the euro pinned down. The U.S. Dollar Index that measures the greenback against other major currencies tallied a 0.07% […]

Australia sees decline in June retail sales

Retail sales in Australia fell in June due to lower demand driven by COVID-19 lockdowns and mobility restrictions, an indication that the economy slowed in the third quarter. Preliminary figures from the Australian Bureau of Statistics (ABS) on Wednesday showed retail’s biggest drop this year, with a decline of 1.8% from a month earlier. Victoria […]

Stocks tumble as new virus outbreaks cast shadow on global economic recovery

Asian stocks fell on Tuesday as investor outlook continued to darken amid increasing concerns over the COVID-19 delta variant. Fears of the virus’ negative impact on the global economic recovery sent riskier assets on a steep downward trend. MSCI’s gauge of Asia Pacific stocks outside of Japan experienced losses of almost 1%, while Australia’s S&P/ASX […]

Asian shares stumble as US inflation records high

Asian shares went down on Wednesday following the release of data that showed the biggest jump in US inflation in 13 years, which sparked some market expectations that the Federal Reserve could exit pandemic-era stimulus earlier than previously thought. However, US bond yields fell in Asian trade after a boost a day earlier due to […]

Gold up amid US’ higher-than-expected inflation

Gold was up on Wednesday morning in Asia, despite having its gains dampened by data released on Tuesday that showed US consumer prices rose to their highest in the last 13 years. Gold futures rose 0.21% to $1,813.65 by 1:16 AM ET (5:16 AM GMT) while the dollar, which normally moves inversely to gold, tumbled […]

Looser lockdowns, global vaccination accelerate China’s export growth

China’s export recorded faster-than-expected growth in June fuelled by a strong global demand as pandemic restrictions eased and vaccination rollouts accelerated worldwide. However, a customs official on Tuesday warned of a slowdown in trade growth in the second half of 2021 following a surge of the Delta virus variant in some countries. Exports in dollar […]

UK house prices surge, wealth gap widens

Middle-income and well-off households experienced windfall gains amid the coronavirus pandemic, data from the Resolution Foundation think tank showed on Monday. This was mainly attributed to a boom in Britain’s housing market and gains in global share prices. Despite experiencing the sharpest economic slump in more than 300 years in 2020, the average British household […]

Dollar climbs amid rising risk aversion, economic rebound woes

The dollar soared on Friday morning in Asia as doubts about global economic rebound continue to surface. Japanese yen and Swiss franc also climbed while Australian and New Zealand dollars placed near multi-month lows. The U.S. Dollar Index that measures the greenback against other major currencies rose 0.05% to 92.453 but recorded a drop from a three-month […]

Oil down amid Saudi-UAE continuing feud

Oil was down in Asia on Thursday morning for the third straight session as investors keep a close watch on the continuing dispute between Saudi Arabia and the United Arab Emirates (UAE) that has affected the world’s fuel supply. Brent oil futures plummeted 0.35% to $73.17 by 10:27 PM ET (2:27 AM GMT) while crude […]

NZ dollar up as bank signals rate hike in November

The New Zealand dollar was up on Tuesday following rate hike expectations in November, while Australian currency also crept up awaiting the central bank policy meeting today. The U.S. dollar and other major currencies were mostly steady. Investors are now on standby pending discussions in June’s Federal Reserve meeting after a surprised hawkish shift in […]

Oil drops as OPEC+ tension grips market

Oil prices dropped on Monday as investors and traders continued to wait on crucial talks by the Organization of the Petroleum Exporting Countries and its allies (OPEC+) following disagreements within the group that could end up with major producers raising volumes to grab market share. Brent crude’s four days of gains came to a halt […]

Asian stocks rise as vaccine boosts positive economic sentiment

Wednesday morning saw a rise in Asia Pacific stocks as the region continues to have a positive outlook driven by news of vaccines that can work against the new COVID-19 Delta strain built up investor sentiment. China’s Shanghai Composite crept up 0.16% by 10:40 PM ET (2:40 AM GMT) as the Shenzen Component went up […]

Dollar rose but below previous highs ahead of June’s US employment data

The dollar rose on Tuesday morning in Asia but placed below a two-month high as investors await the U.S. employment data that will dictate whether the U.S. Federal Reserve will withdraw its stimulus measures. The U.S. Dollar Index climbed 0.08% to 91.948. The USD/JPY pair fell 0.05% to 110.56. The AUD/USD pair was down 0.19% to […]

Asian shares gain as Fed calms markets

Asian share markets traded positively during their early Wednesday session, with investors’ sentiment heavily supported by the Federal Reserve’s reassuring comments on inflation and monetary policies. Japan’s benchmark index Nikkei took its 0.16% gain partly from the country’s economic readings. South Korean shares hiked 0.28%, while Hong Kong shares recorded a 0.78% jump. China’s Shanghai […]

Global shares recover from low grounds

Global share markets rallied further on Tuesday, with Asian equities recovering from a four-week low. The series of gains followed after concerns about near-term rate hikes in the United States was overshadowed by investors’ optimism for a rebound in the global economy. Asia’s upbeat trading session came after Wall Street’s overnight gains, with the Dow […]

European shares reach new record high, bond yields drop as inflation fears ease

U.S. and European shares advanced and bond yields dropped on Friday as investors were not bothered by rising U.S. consumer prices and even concerns of long-term inflation pressed on. The Euro STOXX 600 gained 0.3%, hitting a record high and was on course for a sixth straight day of gains. London shares advanced 0.6%, aided […]

Gold dips as investors digest soft U.S. jobs data

Gold dipped on Monday trade in Asia as investors saw a weaker-than-expected U.S. nonfarm payrolls data released last week which eased concerns that the Federal Reserve would tighten its present dovish monetary policy. Gold futures fell 0.12% to $1,889.75 by 12:04 PM ET. The dollar, which usually moves inversely to gold, soared on Monday while […]

Australia posts upbeat job ads in May

Australia’s job advertisements marked their 12th month of increase in May. The reading stood as the highest since 2008, underscoring strong labor demand that could resist lockdown measures in Victoria and the removal of some government support schemes. After a 4.9% increase in April, job advertisements advanced a total of 7.9% in May. The figure […]

European stocks steady in cautious trading ahead of U.S. jobs data

European stocks steadied on Friday trade as investors traded cautiously ahead of U.S. jobs data. Euro zone’s benchmark edged higher and is en route to its third weekly gain as investors’ hope for economic recovery blooms. The pan-European STOXX 600 index advanced 0.2% by 0709 GMT, placing near its record high hit earlier this week. […]

Australia’s economy goes back to pre-pandemic levels as consumers, businesses spend

Australia’s economy hits pre-pandemic levels as consumers and businesses spent lavishly, lifting the economy from the coronavirus drag, causing the country’s first recession in thirty years. The economy of the Land Down Under grew by 1.8% in the three months to March as indicated in the data released by the Australian Bureau of Statistics (ABS) […]

Gold retreats from five-month peak as investors digest positive U.S. economic data

Gold subdued on Wednesday in Asian trade after hitting a five-month peak during the previous session as investors digest positive U.S. economic data and an increase in bond yields. Gold futures edged down 0.32% to $1,898.95 by 12:43 AM, scaling back below the $1,900-mark. The dollar, which usually moves inversely to gold, advanced on Wednesday […]

Euro zone manufacturing activity expands at a record pace in May

Euro zone manufacturing activity was seen expanding at a record pace in May, a study suggested on Tuesday, indicating growth would have been even faster without supply bottlenecks that have led to an unprecedented rise in input costs. Europe’s economy has been badly hit by the coronavirus pandemic crisis in the past year, forcing the […]

ECB Anticipated To Extend Elevated Pace of Bond-Buying

Economists and investors highly expect the European Central Bank to keep its emergency bond-buying current level despite a zooming economic recovery underway. HSBC Holdings Plc, UBS Group AG, and ABN Amro Bank NV are among the financial institutions that expect the Governing Council to extend its current stimulus settings on June 10. Economists surveyed before […]

Gold dips over rising dollar, US Treasury yields as U.S. inflation data underway

The safe-haven gold dipped on Friday trade in Asia as the dollar and U.S. yields rose, pressuring gold. This as investors await crucial U.S. inflation data to be released later in the day. Gold futures lowered 0.08% to $1,894.10 by 11:52 PM ET. It came from breaching the $1,900 mark during the previous session. The […]

Japan’s unemployment rate exceeds forecast, prices fall as pandemic continues to hurt economy

In an interview regarding the rate of joblessness in Japan, Tom Learmouth, an economist at Capital Economics was quoted saying: “Job offers may have dipped again in May due to the third round of emergency declarations. That may further hold back the recovery in employment,” He then adds, “But further ahead we still expect both […]

Inflation bridles stocks, leads to tightening of monetary policy

On Thursday, world stocks were pinned down while investors patiently waited for data coming from the United States that would hopefully explain inflation. Alongside this, more pressure are seen all over as the scaling back of central banks’ giant stimulus packages are in the cards. European entities are caught in a losing trend with the […]

Asian shares ease, dollar sees one-week peak

Asian share markets eased from high grounds on Thursday as the prospect of stimulus withdrawal dampened Chinese shares’ early performance.  The dollar, on the other hand, saw an increase to hit a one-week high. MSCI’s broadest index of Asia-Pacific shares outside Japan plunged 0.5%, placing below its record peak of 696.76 on Wednesday. Chinese shares […]

Oil steady propped by demand optimism despite Iranian supply worries

On Wednesday, Oil prices had remained steady as it traded in a narrow range that is propped by optimism that the U.S. fuel demand and weak dollar would improved. Only, this comes with the prospect of a return of Iranian oil to markets that effectively puts pressure on prices. At 0839 GMT, Brent climbed 0.2% […]

Japan sees upbeat service prices as advertising, freight fees jump

Japan posted an increase in its service prices, jumping for two consecutive months ended April as advertising and freight fees advanced. Wednesday’s data indicated that the country’s economy was slowly recovering from the coronavirus pandemic’s initial drag. The services producer price index recorded an annualized expansion of 1.0% in April, data from the Bank of […]

Gold slides but still near its four-month high after fed speech

Gold slid on Tuesday trade in Asia, but it still hovered near its four-month high following the Federal Reserve’s statement about inflation concerns. Gold futures lowered 0.23% to $1,880.15 by 12:08 AM ET. The dollar, which usually moves inversely to gold, was also on the losing end, falling to a four-month low on Tuesday. U.S. […]

Wall St. opens strong in light of high oil prices lifting energy stocks

Monday saw the Wall Street’s main indexes open higher with high oil prices lifting energy stocks. Meanwhile, investors are set to receive key inflation readings within the week. Chevron Corp, Occidental Petroleum Corp, and Schlumberger, each saw a rise between 0.7% and 1.1% in premarket trading as oil prices solidified into more than $1 per […]

Gold hovers near 4-month high as bullish trend hints emerge

Gold hovered near its four-month high on Monday trade in Asia as bullish trend hints surface. Gold futures gained 0.39% to $1,884.05, after hitting $1.890.13, their highest level since Jan. 8, during the previous week. The dollar, which usually moves inversely to gold, was also unusually up with gold on Monday, albeit staying near its […]

Resurgence of COVID-19 infections weighs Oil down for third day, U.S. stockpiles

Thursday saw Oil prices fall following a slump in the previous session with U.S. stockpiles rising adding to worries that this would hit demand from the surge of COVID-19 cases within Asia and potentially, U.S. rate hikes. Brent crude is hit with its decline by 0.1% (6 cents), now priced at $66.60 per barrel (0141 […]

New Zealand lifts welfare benefit rates amid rapid economic rebound

New Zealand raised welfare benefit rates on Thursday and vowed to produce billions of dollars more to address rising inequality in its annual budget, as the country forecast smaller deficits and a rapid economic recovery from the coronavirus pandemic. New Zealand’s 2021 budget allocated big funds towards increasing the weekly benefit rates by up to […]

European stock markets dwindle as investors digest Fed Minutes

European stock markets opened Wednesday trade sharply lower as Wall Street was on a selloff overnight amid pressing concerns over inflation and future Federal Reserve policy. Germany’s DAX futures contract lowered 0.2%. CAC 40 futures in France dipped 1.2% and the FTSE 100 futures contract in the U.K. dropped 0.9%. Wall Street’s major indices lost […]

Asian shares, bitcoin decline on inflation concerns

Asian shares performed weakly as cryptocurrencies dropped lower on Wednesday. This came after investors’ risk appetite was dampened by inflation-driven uncertainties. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.3% drop. China’s CSI300 dropped 0.6%, while Japan’s benchmark index Nikkei shed 1.1%. Hong Kong and South Korean markets were closed for a holiday. […]

Dollar climbs on new Asia coronavirus restrictions

The dollar rose on Monday amid renewed worries over COVID-19 restrictions in Asia, but investors are betting the greenback to fall as the Fed maintains dovish rates. The dollar rose 0.3% against the Aussie and 0.4% against the kiwi as commodity prices fell over new COVID-19 outbreaks in Taiwan and Singapore. The greenback firmed at […]

Oil drops on rising India COVID-19 cases, U.S. pipeline restart

Oil prices dropped on Friday after easing nearly 3% on Thursday as COVID-19 cases remained high in major oil consumer India and as a U.S. key fuel pipeline resumed operations following a cyber attack. Brent crude oil futures fell 0.2%, or 10 cents, at $66.95 per barrel. U.S. West Texas Intermediate slid 0.1%, or 3 […]

Asian shares reach low grounds on inflation-driven selloff

Asian share markets recorded two consecutive sessions of losses to reach one-month lows on Wednesday. The drop came after an increase in commodity prices and growing inflationary pressure fueled the prospect of rate hikes and surging bond yields. MSCI’s broadest index of Asia-Pacific shares outside Japan plunged 0.5%. The index dropped lower after a 1.6% […]

Dollar falls against commodity currencies on extended sentiment

The dollar fell against commodity currencies on Tuesday on expectations for additional gains in the price of oil and metals. Against the loonie, the dollar stood at 1.2097, near its lowest in over three years. The dollar also fell to a near two-week trough against the Mexican peso. The Aussie climbed to $0.7836, close to […]

Oil slides on easing of pipeline outage concerns

Oil prices dropped on Tuesday as worries of prolonged outage in Colonial Pipeline, the United States’ biggest fuel pipeline system faded, while several U.S. Gulf Coast refiners slashed production. U.S. West Texas Intermediate crude futures were down 0.94%, or 61 cents, at $64.31 per barrel, following a 2-cent gain on Monday. Brent crude futures fell […]

Ether breaches $4,000 level, other cryptos steady

Ether reached greater heights on Monday after breaching the $4,000 level. Ether’s new record high today is the crypto’s new peak for the third time in a row. The surge is riding on growing optimism that Ether and other cryptocurrencies will be used on a wider scale. On the Binance exchange, Ether was last up […]

Japan posts weak service activity in April

Japan saw a contraction in its services sector activity in April as coronavirus-related measures heavily dragged the country’s businesses. However, the drop came to be the slowest since the pandemic started in 2020. The final au Jibun Bank Japan Services Purchasing Managers’ Index (PMI) recorded a seasonally adjusted reading of 49.5 in April. The figure […]

Global shares advance on U.S. jobs data

Global share markets were on course for their first gain in three weeks amid a surge in commodity prices. Investors’ enthusiasm was mainly from a key U.S. labor report, which will then provide hints on when the Federal Reserve will ease its monetary stimulus. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.4% […]

Oil rises on steep U.S. crude stocks drop

Oil prices climbed almost 1% on Wednesday, extending overnight gains after industry data showed U.S. crude inventories slid more than expected last week. The decline reinforced bullish views on fuel demand in the United States. U.S. West Texas Intermediate crude futures rose 0.9%, or 60 cents, at $66.29 per barrel, after rising to $66.45, its […]

Lyft posts sustained profit on cost cuts, upbeat demand

Lyft Inc posted better-than-expected profits on Tuesday. More so, it pledged to deliver dependable and seasonally adjusted profits in the third quarter as cost reduction allowed the company to earn more. For five consecutive days, Lyft’s shares declined a total of 11%. They regained momentum to trade 5.2% higher during their after-hours trading on Tuesday. […]

Dollar slides on lower manufacturing data; traders look to payrolls

The dollar fell on Tuesday, following a surprise slowdown in U.S. manufacturing growth that prompted traders to trim bets on a stronger U.S. economy lifting the dollar. With Asia trade muted, the dollar rose from overnight levels to sit at 109.14 against the yen and at $1.2054 per euro. The euro climbed 0.3% overnight, boosted […]

Asian shares gain on recovery hopes

Asian share markets recorded a positive performance on Tuesday. The series of gains could be attributed to signs of recovery from the COVID-19 crisis as major economies across the world resumed their economic activity.   MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.05%, tracking Wall Street’s overnight rally. Hong Kong’s Hang Seng index […]

Dollar steadies as traders await U.S. data for policy hints

The dollar held onto a recent bounce on Monday as investors started the week cautious, awaiting central bank meetings and U.S. economic data to look for hints at global inflation and policy shifts. The dollar index traded at 91.242. It fell 2% in April on upbeat global recovery prospects, which lifted trade-exposed currencies. The dollar […]

Oil falls as India COVID-19 crisis takes toll on fuel sales

Oil prices dropped on Monday as a worsening second COVID-19 wave in India cut off oil demand recovery in the country. This offset optimism about a strong demand rebound in developed countries in the second half of 2021.  Brent crude futures for July contract lost 0.2%, or 15 cents, at $66.61 per barrel. U.S. West […]

Asian shares see weak session ahead of U.S. figures

Asian share markets recorded a subdued performance during their early Monday trade. This followed after China and Japan compressed volumes, with investors also waiting for a set of data showing that the United States is recovering ahead of its peers. After a minimal decline on Friday, MSCI’s broadest index of Asia-Pacific shares outside Japan traded […]

Oil falls from six-week high as India crisis weighs on demand

Oil prices fell on Friday, taking a breather after hitting their highest level in six weeks as worries of wider lockdowns in India and Brazil offset a bullish outlook on summer fuel demand and pandemic recovery. Brent crude dropped 0.4%, or 29 cents, at $68.27 per barrel, the last trading day for the front-month June […]

European Stock Futures rise as Fed keeps rate steady

European stock markets were upbeat on Thursday’s session as the Federal Reserve announced it is keeping its monetary policy unchanged. Helping the stocks to rally is the continuous first-quarter earnings season. The CAC 40 futures contract in France was the biggest gainer with a 0.5% increase. The DAX futures contract in Germany added 0.1, and […]

Asian shares dwindle ahead of Fed meeting, corporate earnings

Asian share markets recorded a subdued performance, while U.S. stock futures traded steadily on Tuesday. Investors’ sentiment was downbeat ahead of a U.S. Federal Reserve meeting, while a decline in corporate earnings weighed on hopes for a brisk economic recovery across the globe. MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.14%. Australian shares […]

Japan’s services prices recover; COVID-19 measures dim outlook

Japan saw an increase in services prices in March as advertising and transportation fees advanced, data showed on Monday. The jump suggests that the country’s economy is faring better now than last year when the pandemic wrought disruptions. The services producer price index gauges how much charge companies ask each other for services and recorded […]

Asian shares jump on strong China rally

Asian share markets recorded an upbeat performance on Monday. The jump followed after China shares tallied a three-week high record, with positive economic signs fuelling investors’ sentiment. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.3% to reach its strongest level since March 18. The index continued its upswing after performing strongly for two […]

Dollar falls into narrow range ahead of Fed meeting

The dollar fell in Asian trade on Monday, stuck in a narrow trading range as traders await a U.S. Federal Reserve meeting next week. The dollar index fell 0.17% to 91.170. Against the Japanese yen, the dollar fell 0.06% to 107.90. The Chinese yuan gained 0.07% to 6.4958, while the pound was up 0.19% to […]

U.S. economy strengthens; coronavirus threat presses

The economy of the United States is expected to expand at its fastest annual pace in decades this year. It is also predicted to surpass most of its major peers as the country upgraded its economic outlook. However, an increase in coronavirus infections will likely press over the next three months, a Reuters survey showed. […]

Gold inches up as U.S. Treasury yields soften

Gold shone on Wednesday trade in Asia as U.S. Treasury yields softened. Gold futures edged up 0.22% to $1,782.40. The dollar, which usually moves inversely to gold, hovered near its seven-week low. Its peer, U.S. Treasury yields dropped 1.6%. The U.S. Federal Reserve and the European Central Bank, along with other central banks, are expected […]

U.K. inflation rate hikes to 0.7% in March fueled by clothing, fuel prices growth

As clothing and fuel prices rose, the British consumer price inflation rate moved up to 0.7% in March. The official figures for the recent period were slightly higher than the 0.4% inflation rate in the previous month. The official figures released on Wednesday also showed food prices lower than last year. British inflation is expected […]

European stock futures down ahead of ECB meeting

European stock futures lowered on the week’s trade opening ahead of the European central bank meeting. Germany’s DAX futures dipped 0.3%, CAC 40 futures in France fell 0.8%. The FTSE 100 futures in the U.K. were down 0.3%. In corporate news, CNH Industrial ended negotiations with Chinese company FAW Jiefang over the potential sale of […]

Oil falls as rising COVID-19 cases stoke demand concerns

Oil prices fell on Monday as a surge in coronavirus cases in India and other countries prompted worries that stricter measures to curb the pandemic will impact economic activity, along with crude demand. Brent crude futures dropped 0.3%, or 23 cents, at $66.54 per barrel, following a 6% gain last week. U.S. oil lost 0.2%, […]

China, U.S. figures underpin global shares

Global share markets placed below their historic peaks on Friday. This followed after economic figures from the United States and China boosted investors’ optimism for a brisk economic rebound. Financial markets in Asia performed steadily after China released its first-quarter gross domestic product. While the country’s reading failed to breach expectations, its retail sales still […]

European Stock Futures Mixed as U.S. Inflation Fears Ease

European stock markets traded mixed on Wednesday as U.S. inflation concerns eased due to falling bond yields. Coronavirus-related concerns, however, continue to weigh on markets, dragging other stocks down. Germany’s DAX futures contract gained 0.2%. the U.K.’s FTSE 100 futures contract improved 0.1%. CAC 40 futures in France lowered 0.6%. The consumer price index in […]

Japan’s weak machinery orders weigh on outlook

Machinery orders in Japan contracted to their lowest level in about a year in February. According to data, the decline undermined optimism for an increase in capital expenditure as this is necessary for the sector’s acceleration from the coronavirus drag. Data from the Cabinet Office showed that core orders dropped 8.5% in February from a […]

Corporate earnings, inflation data restrict Asian shares

Asian share markets traded cautiously on Tuesday. This followed after U.S. financial markets fluctuated as investors anticipated the start of corporate earnings season and the release of key inflation figures. MSCI’s broadest index of Asia-Pacific shares performed less than 0.1% during its early trade. Australia’s S&P/ASX 200 advanced 10 points. While the country’s major miners […]

Japan’s wholesale prices accelerate on upbeat commodity costs

Japan saw an increase in its wholesale prices, marking the first annualized jump in more than a year in March. Data released on Monday indicated that upbeat commodities reduced corporate margins, underscoring some inflationary pressures in the world’s third-largest economy. The corporate goods price index (CGPI) recorded a 1.0% jump in March from a year […]

Exports up, industrial output down in Germany amid virus curbs

Germany, the largest economy in Europe, showed mixed economic data on Friday with its exports rising in February and its industrial output suffering from another decline as the pandemic drag goes on. The Federal Statistics Office’s data noted a 0.9% increase in seasonally adjusted exports on the month of February, following a 1.6% upwardly revised […]

Oil drops after U.S. gasoline stocks surge against expectations

Oil prices dropped on Thursday after official data showed a large build in U.S. gasoline stocks, raising worries about crude demand falling in the United States when global supply is rising.  Brent crude fell 0.6%, or 36 cents, at $62.80 per barrel. U.S. oil dropped 0.6%, or 38 cents, at $59.39 per barrel.  U.S. crude […]

Toyota flashes new cars with advanced driving assist technology

Toyota Motor Corp flashed its new Lexus and Mirai car models in Japan on Thursday. These cars are tooled with the automaker’s newest advanced driver assistance that facilitates wireless software updates and safe driving features. Toyota’s Advanced Drive, its latest driving assist technology is a level 2 autonomous system that enables drivers to effortlessly perform […]

Oil plunges as Suez Canal container ship begins to move

Oil prices dropped over 2% on Monday after news that salvage crews have successfully moved the giant container ship that was stuck in the Suez Canal and has blocked global trade passage for almost a week. Brent oil fell 2.1%, or $1.38, at $63.19 per barrel. U.S. West Texas Intermediate lost 2.4%, or $1.48, at […]

Dollar rises on improving economic outlook

The dollar stood near multi-month highs against majors on Friday, boosted by optimism over upbeat U.S. economic data, COVID-19 vaccine rollouts, and rising Treasury yields. The dollar index traded at 92.769, near a four-month high. The dollar index was on course for a 0.9% weekly rise. The dollar slid to $1.1778 against the euro but […]

European stock futures mixed ahead of EU leaders meeting for COVID response

Thursday trade saw a mixed performance in the European stock markets as investors were cautious as they wait for the EU leaders’ meeting addressing the coronavirus crisis. Germany’s DAX futures contract was up 0.2%. On the losing end, France’s CAC 40 futures contract fell 0.2% and FTSE 100 futures contract in the U.K. lost 0.1%. […]

European stock futures drop as coronavirus recovery doubts zoom larger

European stock markets started flat on Wednesday trade as global economic recovery doubts weighed on markets. Germany’s DAX futures fell 0.1%. France’s CAC 40 futures dipped 0.4%. Joining the gloomy performance was the FTSE 100 futures with a 0.5% decline. The resurging number of coronavirus cases worldwide as highly contagious variants of the virus spread. […]

Dollar boosted by safe-haven demand as fears over European lockdowns, U.S. taxes cap risk sentiment

The safe-haven dollar was on course for a four-month high on Wednesday as worries over a third COVID-19 wave in Europe, possible U.S. tax hikes, and rising tensions between China and the West capped risk appetite. The dollar index climbed to a two-week high of 92.436 in Asian trade. It hovered right below a four-month […]

Turkish lira falls on central bank sacking, yen and dollar rise

The Turkish lira dropped towards a record low against the dollar after President Erdogan stunned investors by replacing the central bank governor with a critic of high interest rates. The yen climbed versus the euro, kiwi, and Aussie on speculation that Japanese investors buying lira for its high interest rates will close out their positions. […]

Dollar firms amid higher U.S. yields

The dollar firmed on Friday, boosted by higher Treasury yields and a decline in the stock markets. The rise came after the U.S. Federal Reserve dampened speculation for an early interest rate hike.  The dollar index briefly rose following a 0.5% climb on Thursday, the most in two weeks. The 10-year U.S. Treasury yields hit […]

Japan’s consumer price drop eases on upbeat fuel prices

Japan’s annual consumer price drop eased for two consecutive months ended February. This followed after an increase in fuel prices minimized some contraction pressures brought about by the coronavirus-driven decline in household spending. The country’s core consumer prices recorded an annualized 0.4% contraction in February, government data showed on Thursday. The figure came parallel with […]

Asian shares drop on surging yields, oil selloff

Asian share markets performed weakly on Friday as an increase in U.S. bond yields dampened investors’ enthusiasm toward technology stocks. Moreover, a selloff in crude heavily dragged oil prices to their lowest levels in months. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.5% drop. This came after Wall Street’s choppy trade sent […]

UN body improves global economic growth forecast to 4.7%

The United Nations Conference on Trade and Development (UNCTD) report released on Thursday noted an improved global economic growth forecast to 4.7% from the previous 4.35%. The report also highlighted a stronger-than-expected economic growth in the United States. According to the UNCTD report, U.S. consumer spending was anticipated to be bolstered by developing COVID-19 inoculation […]

Oil steadies as demand fears counter sudden U.S. crude stocks drop

Oil prices were mixed on Wednesday as doubts about demand in Europe offset hopes for U.S. refinery activity recovery as U.S. crude inventories unexpectedly declined last week. Brent crude futures slid 0.1%, or 7 cents, at $68.32 per barrel after initially rising by 23 cents. U.S. West Texas Intermediate crude futures climbed 4 cents to […]

Japan exports plunge on dwindling China, U.S. demand

Japan had seen its exports drop faster than what was expected in February as shipments bound to the United States and China weakened. The drop came to be a point of concern for the world’s third-largest economy as it tries to stage a rebound from the coronavirus crisis. Data from the Ministry of Finance showed […]

Dollar firms amid U.S. yield surge

The dollar firmed on Monday after recovering from a one-week low last week, boosted by a surge in Treasury yields to more than one-year highs as inflation worries linger. The greenback gained 0.1% to 109.125 against the Japanese yen, while the euro was mostly flat at $1.19485 after climbing last week, its first time in […]

Bitcoin eases after near $62,000 hit

“It’s becoming an asset that investors can no longer ignore,” said Mizuho Securities’ chief currency strategist Masafumi Yamamoto as Bitcoin remained in the zone following a $62,000 record-hit on Saturday and closed around $60,000 on Monday trade. The world’s largest cryptocurrency took a breather as it posted $58,956.90 in the Asian session, after Saturday’s record-breaking […]

Bank of Mexico claims U.S. stimulus package to lift Mexican economy, cause market problems

Mexico’s economy and exports will benefit from the Biden administration’s $1.9 trillion coronavirus relief package and at the same time, will pose challenges in the market, according to Bank of Mexico’s governor Alejandro Diaz de Leon. U.S. Ten-year yields jumped to 13-month highs on Friday, fueled by optimism brought by the U.S. coronavirus relief package […]

Lowering Treasury yields, dollar moves gold towards a seven-week best

Gold lowered on Friday in Asian trade but was all set to post its best figures in seven weeks over weakening U.S. Treasury yield and dollar. Gold futures rose 0.33% at $1,716.90. For the week, gold prices have improved 1.4%, capping their largest gains since January of this year. Despite the gains in today’s trade, […]

Brent falls, but hovers near $70 on demand optimism support

Brent crude prices fell on Friday but lingered near $70 per barrel as major producers’ output cuts tightened supply. Optimism about demand recovery in the second half of the year also supported prices. Brent crude futures for May contract fell 0.2%, or 17 cents, at $69.46 per barrel, while U.S. West Texas Intermediate crude for […]

Dollar hits one-week lows due to weak inflation data

The dollar fell near one-week lows on Thursday after weak U.S. consumer prices data and a drop in Treasury yields prompted a sell-off in the market.  The dollar index was flat at 91.79 after hitting a one-week low of 91.75 in Asian trade as data showed that U.S. core consumer price growth briefly slowed in […]

Oil climbs on economic outlook, fuel stocks drawdown

Crude oil prices rose on Thursday as vaccine rollouts boosted the economic outlook. U.S. fuel stockpile dropped, but gains were capped by a spike in crude oil stocks following a storm in Texas last month.  Brent crude oil futures for May delivery gained 0.8%, or 55 cents, at $68.45 per barrel. U.S. West Texas Intermediate […]

Gold bounces back as dollar, Treasury yields dragged by U.S. inflation data

After being down during the previous session on strengthening dollar, gold bounced back on Thursday trade in Asia as weaker-than-expected U.S. inflation data dragged Treasury yields and the greenback. Gold futures added 0.42% at $1,729 as the dollar, which moves inversely to gold, fell on Thursday. U.S. Treasury yields, along with the dollar, retreated as […]

Tesla shares reach historic intraday record in a year

Tesla, an electric vehicle company, saw its shares surge nearly 20% on Tuesday. The jump came after shares were deeply hurt by a selloff, recovering impressively as data showed an increase in China sales and as an analyst increased his rating on the stock. Shares of the company closed at $673.58, recording their sharpest daily […]

Dollar hits multi-month highs against peers over yields, recovery expectations

The dollar traded near a 3 ½-month high against its peers on Tuesday as higher bond yields and hopes for faster U.S. economic recovery boosted the greenback. The dollar index gained 0.1% to 92.469, its strongest since November, building on a 0.5% rise on Monday. Against the yen, the dollar climbed to 109.235, its strongest […]

Chinese exports, imports advance in Jan-Feb

Data from China’s customs agency showed that the country’s exports recorded an impressive 60.6% year-on-year jump from January to February. Imports also expanded, tallying a 22.2% growth from last year’s weak levels.                                                […]

Upbeat bond yields drag Asian shares; dollar yanks yen

Asian share markets were seen downbeat on Friday. The decline was mainly from an increase in U.S. Treasury yields, which greatly affected equity investors and boosted the dollar to a three-month peak. In turn, the Japanese yen hit a record of eight-month low. During Friday’s early trade, Australian shares recorded a 1% decline. Japan’s Nikkei […]

Hyundai slashes Q4 sales projection after electric car recall

After a massive global recall of electric vehicles, Hyundai Motor Co was left with no choice but to trim down its fourth-quarter sales projection. But reports said LG Chem Ltd would shoulder the bulk of the expenditures. Hyundai reported on Thursday it was slashing its fourth-quarter operating profit by 300 billion won ($265 million) or […]

Dollar hits seven-month high against yen ahead of Powell speech

The dollar climbed to a seven-month high against the yen on Thursday as a rise in U.S. Treasury yields provided support ahead of a speech by Fed Chair Jerome Powell. The dollar stood near a three-month high against the Swiss franc and held onto gains against most currencies as a calm Treasury market boosted sentiment. […]

Oil firms on prospect of OPEC+ extending output cuts

Oil climbed for a second day on Thursday as prospects that OPEC+ producers might decide to not raise output at a key meeting later in the day supported prices.  Brent crude futures rose 0.4%, or 27 cents, at $64.34 per barrel. U.S. West Texas Intermediate crude futures were up 0.3%, or 19 cents, at $61.47 […]

Asian shares rise, Aussie continues growth on recovery signs

With investors fending off concerns that stocks may have rallied too far too fast in 2020, Asian shares traded higher on Wednesday. This as investors shifted their focus on up and coming massive U.S. stimulus that will drive global economic recovery. MSCI’s broadest index of Asia-Pacific shares outside Japan improved 0.44%. Japan’s Nikkei stock index […]

Asian stocks recover on easing bond market

Asian share markets performed positively on Monday, recording some gains as bond markets eased from a wild upswing seen last week. Meanwhile, investors had found enthusiasm as a massive stimulus package in the United States fuelled rebound-driven economic hopes. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.1% increase. The rebound came after […]

Twitter to launch new features in a bid to double annual revenue in 2023

In a bid to double its annual revenue in 2023, Twitter Inc. announced on Thursday it will introduce new features and products on a fast-paced track to rejuvenate its business after years of idleness. After the announcement, Twitter stock improved 3.9% to close at $74.71, following an all-time high of $80.75. The social media giant […]

Asian shares see turbulent start on inflation concerns

Asian share markets started their Wednesday session turbulently. The series of declines, which came after a wild fluctuation in U.S. and European overnight trading, could be attributed to surging interest rates and rich equity valuations.  Asia’s early performance sent Australia’s S&P/ASX 200 0.5% lower. South Korea’s KOSPI declined 0.4%, while Japan’s Nikkei recorded a 0.9% […]

Oil climbs over $1 on slow return of U.S. output

Oil prices rose by over $1 on Tuesday as U.S. output slowly rebounded from a deep freeze in Texas that shut down crude production last week. U.S. shale oil producers said it could take up to two weeks to resume over 2 million bpd of crude output shut down by the extreme cold. Brent crude […]

U.S. yields drag Nasdaq, S&P 500; Disney supports Dow

The S&P 500 and the Nasdaq, two of Wall Street’s major indexes, closed negatively on Monday. The weak sessions were mainly from investors’ caution as a jump in U.S. Treasury yields and prospects of growing inflation brought in valuation concerns.    While both indexes closed their sessions weakly, the Dow Jones Industrial index recorded a […]

Dollar drops on improving risk sentiment

The dollar dropped to a near three-year low against the Aussie and the Pound as progress in containing COVID-19 cases lifted risk sentiment. The Aussie reached $0.7892, its strongest since March 2018, while the Kiwi hit $0.7315, its highest level since April 2018. Vaccine rollouts will reduce risks to the Australian economy over the year, […]

Oil climbs as U.S. output slowly resumes after deep freeze

Oil prices climbed on Monday as the slow rebound of U.S. crude production following a deep freeze raised worries about fuel demand recovery amid the coronavirus pandemic. Brent crude rose 1.2%, or 76 cents, at $61.67 per barrel following a 1% gain last week. U.S. oil gained 1.3%, or 74 cents, at $59.98 per barrel […]

SoKor posts strong exports from Feb. 1 to 20

South Korea recorded a 16.7% annualized increase in exports from February 1 to 20, data from customs agency showed on Monday. The expansion, which indicates a trade-driven rebound, came faster than the 10.5% jump monitored during the first 20 days of January. Exports’ growth could partly be attributed to an increase in major trading items, […]

Japan cuts economic growth projection as consumer spending hurt by extended state of emergency

The government of Japan slashed its economic growth projection in February as the country faces an extended state of emergency to curb the spread of the coronavirus, causing further blows to consumer spending. Economists suggest Japan’s economy will contract in the current quarter as reinstated coronavirus restrictions in Tokyo and some prefectures weigh on business […]

Oil prices fall as investors fear deep freeze impact on U.S. refineries

Oil prices fell over 1% on Friday, adding to declines sustained overnight, on fears that refineries won’t resume operations soon following a deep freeze in the U.S. South.  Brent crude futures dropped 1.4%, or 87 cents, at $63.06 per barrel. U.S. West Texas Intermediate crude futures lost 1.4%, or 82 cents, at $59.70 per barrel. […]

Climbing US yields overpower stocks rally

U.S. Treasury yields reached one-year highs on Wednesday at the expense of stock markets, gold, and the Japanese yen.  The stimulus-fuelled global recovery that will cause inflation to increase weighed on the markets causing investors to ease off. Benchmark ten-year U.S. Treasury yields soared 1.3330% in Asia, the highest since February 2020, although they later […]

Gold suffers loss for five straight days, doomed by surging US Treasury yields

Surging U.S. Treasury yields on Wednesday pushed the gold to extend its losing streak. Down for five days in a row, Gold is now at the precipice for the longest losing run in almost a year. Expectations for a recovering economy from the pandemic pushed U.S. Treasury yields to cap their one-year highs, causing subdued […]

Bitcoin breaches $50,000 mark as it gains more traction

 Bitcoin reached a historic high as it placed above the $50,000 mark on Tuesday. The latest increase then added steam to a rally brought by signs that the world’s most prominent cryptocurrency is gaining tighter market traction among mainstream investors and companies. Bitcoin was seen at $50,603, jumping 0.83% higher from its previous record of […]

Japan sees upbeat exports, machine orders on recovering global demand

An expansion monitored in Chinese demand and manufacturers’ enthusiastic mood boosted Japan’s exports in January. The growth heavily indicates that exports are now on their way to recovery after suffering from the coronavirus drag last year. Data from the Ministry of Finance showed that the country’s exports recorded an annualized 6.4% increase in January. While […]

Oil rises as cold front shuts U.S. oil wells, curbs refineries

Oil prices climbed on Tuesday as wells and refineries in Texas, the United States’ biggest crude producer, shut down due to a cold front. Prices also rose as Yemen’s Iran-aligned Houthi group confirmed it hit Saudi Arabian airports with drones, raising supply worries in the world’s biggest oil exporter.  Brent crude futures rose 0.6%, or […]

Dollar hovers near two-week lows as traders doubt U.S. recovery

The dollar started the week hovering near two-week troughs on Monday as investors questioned whether the U.S. pandemic recovery would be as fast as anticipated.  The dollar index traded at 90.427, near last week’s low of 90.249, its highest level since Jan. 27. The index hit a two-month high of 91.6 on Feb. 5 on […]

Japan’s economy grows on recovering exports, capex

Japan maintained its reemergence from the coronavirus drag in the fourth quarter. The country’s economy rendered a better-than-expected expansion as a rebound in overseas demand greatly supported exports and capital spending. The world’s third-largest economy recorded an annualized 12.7% expansion in the fourth quarter, government data showed on Monday. The figure came larger than the […]

Asian shares reach historic highs, oil jumps on Middle East tensions

Asian share markets reached their all-time high records on Monday. The series of gains came after vaccine rollouts across the globe and Washington’s stimulus package supported investors’ outlook for the global economy. Meanwhile, oil prices were seen upbeat as tensions emerged in the Middle East. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.4%. […]

Japan likely to suffer sharper economic downturn than expected: Reuters poll

After extending the state of emergency in the country to curb the spread of the coronavirus, Japan is seen to fall under a shaper economic downturn, a Reuters poll suggested. According to analysts, the staging of the Olympic Games in Japan would have little effect on its ailing economy due to construction spending and limited […]

China’s factory prices recover on improving demand

January had seen China’s factory prices advance for the first time in 12 months. The year-on-year jump came to be the most rapid pace of expansion the country had seen since May 2019, indicating that the world’s second-largest economy is gaining momentum towards recovery. The producer price index (PPI) recorded a 0.3% jump from a […]

Oil rises to 13-month highs on production cuts, hopes for demand recovery

Oil prices rose to their highest levels in 13 months on Tuesday as major producers’ output cuts and optimism over oil demand recovery boosted energy markets. Brent crude futures for April delivery rose 0.8%, or 48 cents, at $61.04 per barrel. U.S. West Texas Intermediate crude for March contract was up 0.8%, or 45 cents, […]

UK to EU exports fell 68% since Brexit trade deal: hauliers

International members at the Road Haulage Association (RHA) presented data reflecting a 68% drop in exports from the United Kingdom to the European Union. This is after the Brexit transition period that expired at the end of 2020 disrupted trade. However, the British government did not confirm the data and refuted that trade disruption at […]

Asian shares, oil advance on recovery-driven sentiment

Asian shares and oil prices saw an upbeat performance on Monday. The series of gains could be attributed to investors’ enthusiasm over the prospect of a $1.9 trillion coronavirus package, with expectations that this will be legislated within the month just as COVID-19 vaccines are being rolled out across the globe. MSCI’s broadest index of […]

Global shares hover near record peak as vaccine drive normalisation hopes

With vaccine distribution showing progress, hopes for faster normalisation in the global economy and earnings recovery weighed on global markets, with Asian shares leading the way and edging Wall Street on Friday trade. Global shares hovered near their record peak hit nearly two weeks ago with an index of the world’s major 50 markets, MSCI […]

Global shares reach high grounds on vaccine-driven hopes

Global share markets recorded a series of record peaks on Friday, with Asian shares tracking Wall Street’s hefty gains. This followed after investors grew enthusiastic over vaccine distribution, bringing in hopes for a rapid recovery of earnings and the global economy. MSCI’s broadest index of Asia-Pacific shares outside Japan tallied a 0.4% gain, while Japan’s […]

Global shares see vaccine-, stimulus-driven gains

Asian share markets and U.S. stock futures performed positively on Wednesday. The series of gains followed after coronavirus vaccine programs accelerated, and governments across the globe planned on ramping up spending in a bid to salvage their virus-battered economies. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.51% increase, while Australian shares jumped […]

China’s factory growth dwindles on surging COVID-19 cases

January had seen China’s factory activity advance at the slowest pace in five months. The contraction, which was from a surge of coronavirus infections across the country, still came parallel with the ongoing rebound in the world’s second-largest economy. The official manufacturing Purchasing Managers’ Index (PMI) rendered a 51.3 reading in January. The figure placed […]

GM eyes ending selling of gasoline, diesel-powered cars, SUVs, light trucks by 2035

In an attempt to shift from gasoline and diesel engines to being carbon neutral, the U.S.’ largest automaker, General Motors, announced on Thursday its goal of selling all its new cars, SUVs, and light pickup trucks with zero tailpipe emissions by 2035. Just several days after President Joe Biden stepped into the White House vowing […]

Asian shares recover; short selling presses

Asian share markets made a strong rebound on Friday. However, they are still on course for their biggest decline in months as a liquidity squeeze in China and Wall Street’s short selling dampened investors’ sentiment. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.9% increase. While the index jumped, it is still heading […]

Asian shares ease; Microsoft’s rally boosts tech

Asian share markets recorded a weak performance on Wednesday. Investors’ subdued sentiment could be attributed to the Federal Reserve’s plans regarding its monetary policy. Meanwhile, futures for U.S. tech shares advanced on Microsoft’s hefty gains. MSCI’s broadest index of Asia-Pacific shares outside Japan saw a 0.2% gain, with investors withdrawing from resource shares on stretched […]

Biden stimulus plan could lift U.S. output by 5% over three years: IMF

Initial estimates of the chief economist of the International Monetary Fund reported on Tuesday U.S. President Jo Biden’s stimulus package could help U.S. economic output expand by 5% over the next three years. A 1.25% addition to U.S. growth in 2021 is seen by the IMF as it looks into the measures included in Biden’s […]

China, New Zealand seal trade deal as Beijing aims for multilateral push

Supporting multilateralism and free trade pact, China and New Zealand scored a trade agreement on Tuesday. This trade pact opens the door for exports from the Pacific nation to the world’s second-largest economy. Trade Minister Damien O’Connor said the agreement expands an existing trade deal with China to ensure it remains fit for purpose for […]

Global green bond issuance reached milestone peak in 2020

Global green bond issuance touched a historic high of $269.5 billion by the end of last year. More so, it is expected to hit a new record peak of around $400-$450 billion in 2021, a report released by the Climate Bonds Initiative (CBI) showed on Monday. Considered as fixed-income securities, green bonds are dedicated to […]

Asian shares seen cautious on surging COVID-19 cases

Asian share markets were seen subdued on Monday. Investors’ downbeat sentiment could be attributed to an increase in coronavirus cases and as pessimism grew over the ability of vaccine makers to provide the pledged doses on time. MSCI’s broadest index of Asia-Pacific shares outside Japan was seen inactive. The index placed below its record peak […]

Oil slides as rising COVID-19 cases in China trigger lockdowns

Oil prices fell on Friday, dropping further from 11-month highs hit last week, weighed down by concerns that renewed COVID-19 lockdowns in China will affect fuel demand in the country. U.S. West Texas Intermediate crude futures eased 1%, or 53 cents, at $52.60 per barrel following an 18-cent fall on Thursday. Brent crude futures dropped […]

Blackrock to include Bitcoin as eligible investment to two funds

BlackRock Inc., a global investment manager and technology provider, is adding bitcoin futures as an eligible investment to two funds, according to a company filing. With this development, Bitcoin continues to expand its reach to the mainstream financial system. The U.S.-based asset manager said it could use bitcoin derivatives for its funds BlackRock Strategic Income […]

Dollar falls as hopes for U.S. stimulus boost sentiment

The dollar fell on Wednesday and the euro held on to gains as the sentiment improved amid big spending talk from U.S. Treasury Secretary nominee Janet Yellen. The euro rose from support around $1.2050, gaining nearly 0.4% overnight to hit $1.2145. It held near that level in Asian trade. The risk-sensitive Aussie and kiwi rose […]

Brent climbs as optimism over economy offsets demand fears

Brent crude futures rose on Tuesday as hopes that the government will support global economic recovery and oil demand offset worries about renewed lockdowns affecting fuel consumption. Brent crude futures for March delivery were up 0.3%, or 17 cents, at $54.92 per barrel following a 35-cent slip in the last session. U.S. West Texas Intermediate […]

British companies clamor for fresh $10.3 billion COVID-19 relief plan

British companies on Tuesday cried out for a fresh $10.3 billion worth COVID-19 relief package, saying that they can no longer wait until March to find out if the government included pandemic support for them. According to the Confederation of British Industry, firms now face crucial decisions about jobs and investment, hence the need to […]

Logitech raises annual outlook on upbeat quarterly profit

On Tuesday, Logitech International raised its year-on-year outlook as it also reported an upbeat quarterly operating income. The company increased its forecast mainly from a coronavirus-driven surge in demand as more people purchased work-from-home and gaming equipment. The computer peripherals and software maker raised its 2021 outlook for sales and profit for the third time. […]

Asian shares soar as China economy strengthens

Asian share markets recorded an upbeat performance on Tuesday. The series of gains could be attributed to an expansion seen in China’s economy, with investors hoping that this will bolster growth across the region even as the coronavirus crisis brought in contraction concerns. MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.98%, placing close […]

Asian shares salvage losses on upbeat Chinese figures

Asian share markets eased from declining on Monday as China’s economy expanded in the fourth quarter. The country’s economic rebound could be attributed to an increase in its factory output, completely outweighing disappointing reports about consumer spending in the United States.   MSCI’s broadest index of Asia-Pacific shares outside Japan salvaged losses to close its […]

Japan machinery orders advance, coronavirus takes toll on outlook

Japan had seen its core machinery orders advance for two consecutive months ended November, data showed on Thursday. However, an increased number of coronavirus cases monitored in Tokyo and 10 other areas might affect business appetite for capital spending. Core orders recorded a 1.5% increase in November month-on-month, completely reversing from a 6.2% drop expected […]

inflation, economy grow slowly: Fed

The Fed’s Beige Book, known as the Summary of Commentary on Current Economic Conditions, reported on Wednesday the U.S. economy is growing at a slow pace. The Beige Book said such yield was due to inflation rise coupled with job growth decline.   Based on anecdotal information collected by the Fed’s 12 reserve banks through […]

Oil rises over 1% after bigger-than-expected U.S. stock draw

Oil prices rose more than 1% on Wednesday, with U.S. crude climbing for a seventh straight day after U.S. inventories reported a bigger-than-expected drawdown and investors shrugged off a worsening coronavirus pandemic. U.S. West Texas Intermediate rose 1.3%, or 67 cents, at $53.88 per barrel following a 2% gain on Tuesday. Brent crude gained 1.4%, […]

Bank of Canada micro rate cut chances float amid virus restrictions

Financial markets peek on a higher probability of a near-to-zero interest rate cut to be imposed by the Bank of Canada as stiffing economic restrictions continue to overshadow hopes for a rebound in economic activity later this year. After being trimmed by 150 basis points last March, posting its record-low of 0.25%, interest rates set […]

Dollar firms as Treasury yield climbs, stimulating rebound

The dollar held onto its recent gains on Tuesday following a rise in U.S. Treasury yields, boosting demand for the safe-haven currency. The dollar has been among the largest losers in the last 10 months as the Fed’s over-dovish policy urged investors to a sell-off. It hit more than 1 ½-year lows against the euro […]

Wall Street closes lower on Washington ruckus, earnings season

Wall Street’s major indexes closed weakly on Monday. This came after investors withdrew some profits following a series of highs last week. In addition to this, the fast-approaching earnings season and developments in Washington contributed to the subdued performance. The Dow Jones Industrial Average recorded a 0.29% drop, while the S&P 500 traded 0.66% lower. […]

Oil drops on renewed coronavirus worries as China cases rise

Oil prices dropped on Monday on rising worries about global fuel demand amid strict lockdowns in Europe and China. Brent crude oil futures was down 0.8%, or 42 cents, at $55.67 per barrel after rising to $56.39 earlier, its highest level since the end-February 2020. Brent gained in the last four sessions. U.S. West Texas […]

Dollar takes breather as investors await jobs report

The dollar index held onto its biggest gain in over two months on Friday as a gain in U.S. yields prompted a sell-off. The greenback bounced from a three-year low after the dollar index fell almost 7% in 2020 and nearly 0.9% in the new year despite expectations for a U.S. economic package. Democrats won […]

Oil hovers near multi-month highs, boosted by Saudi supply cut pledge

Oil prices hovered near 11-month highs on Friday and were on course for a strong weekly gain as Saudi Arabia pledged to cut supply, boosting market sentiment. U.S. West Texas Intermediate crude futures climbed 0.3%, or 14 cents, at $50.97 per barrel. The benchmark ended 0.4% higher on Thursday after reaching its strongest level of […]

Asian shares surge, hitting new record highs on hopes for global recovery

Asian shares surged on Friday to hit new record highs, capped by Japan’s Nikkei posting a 30-year high. These Asian market gains overshadowed pressing economic concerns including persisting COVID-19 cases and political unrest in the United States as investors set sights on global economic recovery. Asian markets followed after Wall Street capped big gains on […]

Brent climbs to highest since February as Saudi Arabia joins production cut

Brent oil prices climbed on Wednesday to their highest level since February after Saudi Arabia agreed to increase output cuts than initially expected at the organization’s meeting. In the United States, crude inventories dropped last week, according to industry data.  Brent crude futures gained 0.6% to $53.94 per barrel, its highest since end-February of 2020. […]

Bitcoin surges anew, posts near Sunday record of $34,800

After recording an all-time high of $34,800 in Asia trade on Sunday, Bitcoin continued to post upbeat figures, hitting $33,365 in Asia on Monday trade. With sustained support from investors, Bitcoin is on its way to becoming a mainstream asset. Less than three weeks ago, Bitcoin posted its milestone of reaching $20,000 for the first […]

Asian shares reach high grounds; Nikkei falls on Tokyo’s virus measures

Asian share markets extended their rally on Monday. This followed after investors were seen enthusiastic over the prospect of a brisk economic recovery brought by coronavirus vaccines. However, impending reinforcements of virus restrictions in Tokyo dragged Japanese shares from their 30-year high record. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.8%, hitting its […]

Dollar firms on virus fears, pound swung by Brexit worries

The dollar firmed against its peers in holiday-thinned trading on Wednesday as worries about a quick-spreading new coronavirus strain in the UK boosted safe-haven demand. The pound fell for three straight days as the deadline for a post-Brexit trade deal nears. The dollar index climbed 0.1% to 90.561, extending its gain for the week to […]

S&P 500 crashes as stimulus buoys virus-beaten sentiment

The S&P 500 reached low grounds on Monday after it recovered from massive losses during the early session. The choppy trade was mainly from weak sentiment as investors weighed between a new coronavirus strain and the passage of a long-anticipated stimulus package. The tech-heavy Nasdaq recorded minimal losses, closing weakly together with the S&P 500. […]

China’s export rebound heightens demand for workers

Overseas demand from COVID-constrained consumers greatly supported China’s manufacturing sector as its activity breached forecasts this year. In addition to this, the recovery prompted factories to hire blue-collar workers in a bid to clear foreign orders. The country’s output of industrial robots jumped 22.2% as computer equipment advanced 10.1%. Meanwhile, integrated circuits recorded a 15.9% […]

Pound rises on Brexit deal hopes, dollar wobbly ahead of Fed meeting

The pound gained against the dollar and euro on hopes that the European Union and Britain will agree on a free trade deal after their decision to extend negotiations.  The dollar sat near a 2 ½-year low against its peers ahead of a U.S. Federal Reserve meeting ending on Wednesday. It stood at 103.995 on […]

ECB to introduce stimulus package anew

The European Central Bank will introduce a new stimulus package on Thursday to aid the bloc rise up from coronavirus pandemic recession. The stimulus package aims to support the EU’s path to economic recovery until a coronavirus vaccine is released to the public. Though details of the package remain to be completed, the package is […]

Dollar, pound wobble as investors eye Brussels, U.S. stimulus

The dollar took a pause from selling pressure on Wednesday as Nestor’s weighed risks ahead, including Brexit trade talks in Brussels, the U.S. Congress debating for an additional economic package, and an upcoming ECB meeting. The dollar index sat at 90.923,  a little above the 2 ½-year low hit on Friday. The pound steadied at […]

Japan’s virus-beaten household spending recovers in October

Japan had seen its household spending advanced in October, the first expansion in over a year, data showed on Tuesday. The growth indicates a mild recovery after the country’s economy was ravaged by the coronavirus crisis. Household spending jumped 1.9% in October year-on-year, placing weaker than the 2.5% increase predicted by analysts. While it failed […]

UK retail sales growth eases as Nov lockdown hits non-food sales

Growth in the U.K.’s retail sales softened in November as non-essential stores were forced to cease operations to comply with the four-week lockdown in England. However, online sales surged and were able to bring in the figures more than it did during the first lockdown in March, according to industry data released on Tuesday. Year-on-year […]

German industrial output grows on rising car sales

German industrial output posted larger-than-expected figures driven by surging car sales in October. This development is an indication that the export-oriented manufacturing sector sent Europe’s largest economy off to a hot start in the final quarter of 2020. German industrial output soared 3.2% on the month after an upwardly revised increase of 2.3% in the […]

China’s exports grow as demand for PPE, remote working tech jumps

November had seen China’s exports advanced at the fastest pace in almost three years. This came after the country recorded a historic surplus as the world demanded more products necessary to combat the coronavirus pandemic. November exports advanced 21.1% from a year ago, customs data showed on Monday. This came to be the most rapid […]

US service industry curbs to six-month in November: ISM survey

U.S. services sector activity eased, posting its slowest pace in six months in November as businesses were held to control resurging coronavirus infections.  The decline poses concerns about the economy’s recovery being stalled. The Institute for Supply Management (ISM) reported on Thursday a 55.9 reading of its non-manufacturing index in November. The reading was the […]

Equities soar as fiscal package hopes arise

World equity benchmarks soared, reaching near record highs and the dollar dipped anew to 2-1/2-year lows on Wednesday after investors weighed the possibility for more U.S. economic stimulus to address deteriorating American jobs figures. On Wall Street, the S&P 500 increased 6.55 points, or 0.18%, to 3,669; the Dow Jones Industrial Average went up 59.87 […]

Australia’s virus-beaten economy recovers in third quarter

In the third quarter, Australia’s economy had recorded a strong rebound from its coronavirus-driven downturn. This followed after spending advanced, with consumers seen returning to their purchasing practices. In addition to this, the country’s monetary policy will stay loose for a while, a central banker said. The economy down under grew 3.3% from July to […]

Asian shares hike as U.S. stimulus, vaccine support sentiment

Asian share markets recorded an upbeat performance on Wednesday. Despite a choppy trading session, shares across the region tracked Wall Street’s rally as vaccine optimism and hopes for more economic stimulus in the United States supported investors’ confidence. MSCI’s broadest index of Asia-Pacific shares outside Japan had seen a 0.27% increase. However, it failed to […]

Oil falls on surprise U.S. stock build, delayed OPEC+ meeting

Oil prices fell on Wednesday after a sudden rise in U.S. oil inventories and as OPEC+ delayed a meeting on output policy. Brent crude futures fell 0.9%, or 41 cents, at $47.01 per barrel. U.S. West Texas Intermediate crude dropped 1%, or 46 cents, at $44.09 per barrel. U.S. crude stockpile climbed by 4.1 million […]

Dollar under pressure as investors keep an eye on the Fed

The dollar was under pressure on Tuesday following its worst close since July as investors awaited more U.S. monetary easing. The Aussie and the kiwi recovered some of Monday’s losses, each climbing 0.2% in early Asian trade. The euro climbed 0.1% just below $1.20, while the pound held onto its gains against the dollar as […]

Asian shares place below highs; U.S. oil futures plunge deeper

Asian share markets were seen stagnant below their milestone peaks on Friday. This could be attributed to investors’ subdued sentiment as vaccine-driven hopes diminished, dragging down optimism that some of the region’s economies will recuperate faster than their Western peers. MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.11%, placing just below its all-time […]

Dollar stabilizes but likely to decline over the long term

The dollar was on the defensive on Thursday as downbeat U.S. economic data and optimism about coronavirus vaccines boosted risk sentiment for global commodities and emerging markets. The pound stood almost at a two-month high against the dollar as traders await the EU-Britain trade talks this week. The dollar index neared its lowest level in […]

Brexit trade deal absence would cut 2% off UK’s output: BOR

Failure of securing a free trade deal between the U.K. and the European Union would cost the U.K. a 2% economic output slash while driving up inflation, unemployment, and public borrowing, the Office for the Budget Responsibility warned on Wednesday. The OBR reiterated its previous forecasts after deciding the prospect of a “No trade deal […]

Risk currencies soar as Trump steps down from office; Yellen tops Biden’s options

Risk-sensitive currencies advanced on Tuesday. The jump was mainly from investors’ upbeat sentiment as U.S. President Donald Trump accepted President-elect Joe Biden’s White House transition. Moreover, Biden plans on giving former Federal Reserve Chair Janet Yellen the Treasury secretary position. The Australian dollar recorded a 0.4% increase, currently quoted at $0.7313. Meanwhile emerging market currencies […]

Tesla’s increase provides tighter traction for S&P 500

Tesla had recorded another day of gains on Thursday. Its shares had extended their rally just before it debuts in the S&P 500 index in December. In addition to this, the automobile manufacturer’s market value was seen nearing $500 billion, indicating the growing domination of mega-cap growth stocks within Wall Street’s most-watched index. The California-based […]

Dollar falls as virus fears ease expectations

The dollar fell on Thursday following five straight days of decline, while the yen held onto most of its recent gains. Investors worried about increasing COVID-19 deaths and started to bet on additional stimulus aid from the U.S. Federal Reserve. The dollar index stood at 92.549, falling 0.2% so far in the week. It is […]

Dollar falls on worries about second coronavirus wave, Biden transition

The dollar fell on Tuesday as a reimposition of coronavirus restrictions in several U.S. states and concerns about a smooth transition for President-elect Joe Biden offset optimism about a COVID-19 vaccine. The pound rose on news that the UK and the EU could reach a post-Brexit trade deal by next week. Moderna became the second […]

Cisco’s quarterly revenue drops below expectations, shares rise

Cisco Systems Inc’s first-quarter revenue dropped below expectations, the telecom equipment maker reported on Thursday. This followed after demand was supported by a large number of people in need of teleconferencing tools, networking equipment, and cybersecurity products for their work-from-home setup. The company’s revenue had seen a 9% decline to $11.93 billion in the quarter […]

Japan’s machinery orders plunge; project murky view for capital spending

September had seen Japan’s core machinery orders dropped for the first time in three months, with their momentum decelerating faster than what was expected. This brought in concerns that any pickup in business spending would not be effective in staging a brisk economic recovery. Core machinery orders recorded a 44% contraction in September. This followed […]

Nasdaq declines on weak technology stocks

Two of Wall Street’s major indexes dropped on Tuesday, with the S&P 500 recording a minimal decline and the Nasdaq plunging 1.4%. This came after investors withdrew from tech-related stocks, favoring virus-beaten sectors in hopes that a COVID-19 vaccine will fuel an economic rebound. The heavyweight technology and consumer discretionary sectors hit low grounds, while […]

Pony.ai gains $267 Million in latest fundraising to boost its popularity

On Friday, Pony.ai announced that it had raised $267 Million in the initial phase of its fundraising to increase its popularity in the United States and China. The autonomous vehicle technology company said that its total market value reached $5.3 billion. Pony.ai stated that the funding was led by Ontario Teachers’ Pension Plan Board’s Teacher […]

Technology stocks and healthcare sector rise due to divided US government

On Wednesday, technology stocks boosted the S&P 500 index (.SPX) while drugmakers and health insurers gained profit after Democrats failed to sweep the election in a “blue wave.” According to investors, the United States government would be divided while there would be significant reforms for these sectors and corporate tax hikes. The S&P healthcare sector […]

AstraZeneca to release a new pipeline of other medicines for the awaited coronavirus vaccine

On Thursday, AstraZeneca (AZN) announced progress in its pipeline of other medicines as it posted a mixed set of its third-quarter earnings results. The British-Swedish drugmaker said that its third-quarter product sales reached $6.52 billion compared to its company-compiled consensus of $6.50 billion. The result excluded payments from collaborations. However, the multinational pharmaceutical and biopharmaceutical […]

U.S. stock futures recover after Trump effectively declared victory while the election is still ongoing

On Wednesday, U.S. stock futures jumped higher than expected. At the same time, global equity markets rose after President Donald Trump stated that he would ask the United States Supreme Court to stop all vote counting and effectively declared victory in the presidential race that was still ongoing. Trump posted on Twitter that Democrats had […]

Subaru posts its profit outlook worth $1.05 billion

On Wednesday, Subaru Corp (7270.T) posted its operating profit forecast worth 110 billion yen ($1.05 billion). The Japanese transportation conglomerate said that U.S. vehicle sales rebounded more than expected after the coronavirus pandemic severely hit the automotive industry. “In North America, we are seeing a faster-than-expected recovery trend. In April, our inventory was in short […]

Inspire Brands officially announce its acquisition deal with Dunkin Brands

On Monday, Inspire Brands Inc. announced that it would finally acquire Dunkin’ Brands Group Inc. (DNKN.O) for $8.76 billion. The Atlanta-based holding company stated that its all-cash deal to take the ownership of Dunkin’ Donuts and Baskin-Robbins chains private would value the firm at $106.50 per share. “We are excited to bring meaningful value to […]

Lenovo beats quarterly revenue expectations

On Monday, Lenovo Group Limited (0992.HK) posted its quarterly profit and stated that the firm would continue to benefit from “new normal” remote working setups after the coronavirus pandemic. The Chinese multinational technology company reported a 53% increase in its net profit for the third quarter that ended in September to $310 Million. “Last quarter […]

Fiat Chrysler needs to pay $840 Million due to U.S. regulatory costs

On Monday, Fiat Chrysler Automobiles NV (FCA) reported that it would need to pay 722 Million Euros ($840 Million) to resolve the United States Department of Justice’s (DOJ) investigation regarding its vehicles’ excess diesel emissions. The world’s eighth-largest automaker said that it would also need to pay for regulatory penalties due to the higher fuel […]

Dollar steadies, euro nears four-week low after ECB’s announcement

The dollar steadied on Friday, while the euro sat near its four-week low on the greenback after the European Central Bank hinted at additional monetary easing by the end of the year. The euro’s fall overnight boosted the dollar index to a near four-week high. The ECB kept rates steady on Thursday but said that […]

Exxon and JERA to make LNG power stations in Vietnam

On Wednesday, Exxon Mobil Corp (XOM.N) announced that it partnered with Japan’s largest power generation company JERA. The American multinational oil and gas corporation said that it agreed to create a power station and import facilities for liquefied natural gas (LNG). Exxon said that the LNG would be used to fuel the Vietnamese city of […]

U.S. EPA allows Bayer to sell its Dicamba-based weed killer until 2025

On Tuesday, the United States Environmental Protection Agency (EPA) announced it would allow farmers to spray crops with weed killers made by Bayer AG (BAYGn.DE) and other companies. In June, the U.S. Courts of Appeals (COA) suspended Bayer’s operations. The court blocked Bayer’s company sales after the government agency discovered that its weed killers were […]

Rolls-Royce asks its shareholders for a rescue deal worth $2.6 billion to survive the coronavirus outbreak

On Tuesday, Rolls-Royce Holdings (RR) stated that it would seek 2 billion Pounds ($2.6 billion) from its shareholders in a “make-or-break” attempt to survive the coronavirus pandemic. The British multinational engineering company stated that the coronavirus outbreak severely affected its finances. The firm also added that its planes stopped flying due to the weak global […]

U.S. ITC postpones decision on SK Innovation’s secret trade theft case

On Monday, the United States International Trade Commission (ITC) announced that the decision would be delayed in SK Innovation’s (096770: KRX) secret trade theft case. The government agency said that the final decision would be announced on December 10, 2020. In 2019, Tesla and General Motors’ electric-vehicle battery (EVB) supplier LG Chemical (051910: KRX) filed […]

Dollar climbs against risk currencies on coronavirus spike, fading U.S. stimulus hopes

The dollar rose on Monday as rising coronavirus infections in the United States and Europe and a stalling in U.S. stimulus talks prompted a cautious mood in the market.  The United States and France reported their highest coronavirus cases for two straight days. Meanwhile, Italy implemented new curfews for bars and restaurants and Spain announced […]

Oil drops as spike in coronavirus case stirs demand worries

Oil extended losses from last week on Monday, dropping almost 2% as a spike in U.S. and European coronavirus cases raised worries over fuel demand, while higher supply hit sentiment. Brent crude fell 1.7%, or 70 cents, at $41.07 per barrel. U.S. West Texas Intermediate slid 1.7%, or 69 cents, at $39.16 per barrel. In […]

Dunkin Brands to potentially acquire Inspire Brands

On Sunday, Dunkin’ Brands Group Inc. (DNKN.O) announced that it held preliminary discussions with Inspire Brands for a potential acquisition agreement. The American fast-food restaurant company declined to reveal further details. “There is no certainty that any agreement will be reached,” Group’s Chief Communications Officer Karen Raskopf said. The New York Times reported that Dunkin’ […]

Eurozone economic activity contracts amid COVID-19 resurgence

Economic activity in the European continent contracted once more in October as the resurgence of COVID-19 cases across the region had many worried for recession in the Eurozone, according to a survey revealed on Friday. The reimplementation of lockdown measures had forced many businesses in the bloc’s dominant service industry to limit operations, with nearly […]

Oil prices slip as COVID-19 resurgence deteriorates fuel demand

Oil prices fell earlier on Thursday, continuing heavy losses from overnight as demand weakened with the resurgence of COVID-19 cases in North America and Europe. U.S. West Texas Intermediate (WTI) crude futures fell by 0.7% (27 cents), trading at $39.76 per barrel at 0127 GMT (9:27 PM ET), after it slumped by 4% on Wednesday. […]

Amazon to invest $100 Million in new warehouses located in Mexico

On Thursday, Amazon Inc. (AMZN.O) announced that it would invest $100 Million in opening new warehouses in Mexico. The American multinational technology company stated that it would include Amazon’s first shipping centers outside the city in order to provide faster deliveries. Amazon said that it would be called fulfillment centers. The first one would be […]

European stocks fall despite strong earnings report from Nestle, Ericsson

European shares saw losses for its third consecutive session on Wednesday, as weakening stocks from healthcare and construction sectors outweighed a strong earnings report from Nestle and Ericsson. The pan-European STOXX 600 fell by 1.0%, still remaining 16% shy of its all-time high as it continued to struggle out of its trading range since June. […]

Dollar hits one-month low on U.S. stimulus hopes, yuan rises

The dollar fell to a one-month low on Wednesday as optimistic investors about a U.S. stimulus before the election turned to risk currencies. The yuan surged to a two-year high on China’s strong economic recovery. U.S. President Donald Trump said that he was willing to accept a big stimulus deal despite opposition from Republicans. That […]

Tesla to hit its vehicle production goal this year

On Wednesday, Tesla Inc. (TSLA.O) posted its third-quarter results for 2020. According to market analysts, they’re interested in knowing whether Tesla’s Chief Executive Officer Elon Musk could achieve his ambitious year-end goal. The American electric vehicle and clean energy company announced that it would continue delivering half a million vehicles this year despite a global […]

Snap shares soar on higher-than-expected revenue, subscription

Shares of Snap Inc SNAP.N recorded a 23% gain on Tuesday. This followed after the company’s user growth and revenue surpassed expectations, with more people subscribing to Snapchat amid the coronavirus crisis. The company’s daily active users (DAUs), a metric that gauges user engagement and traction on a regular basis, advanced 18% year-on-year to 249 […]

Asian shares, yuan advance on stimulus-driven optimism

Asian share markets and U.S. stock futures advanced on Wednesday. This followed after U.S. stimulus talks bolstered market sentiment, prompting investors to resort to equities and withdraw from government debt. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.56% gain. Australian shares hiked 0.1%, while Chinese shares jumped 0.07%. Shares in Tokyo gained […]

Dollar struggles as U.S. stimulus deadline draws near

Earlier on Tuesday, the Dollar saw slight gains in Europe as traders kept a wary eye on the ongoing political discussions over a potential new U.S. stimulus package. The Dollar Index, which tracks the Greenback against a basket of six other currencies, inched up by 0.1% to 93.445 at 2:55 AM ET (0655 GMT). Against […]

Oil falls for fourth day on rising fears over second coronavirus wave

Oil prices fell for a fourth straight day on Tuesday on fears about a surge in new global coronavirus cases impacting fuel demand. Rising output from Libya also added to supply worries in the market.  Brent crude futures dropped 0.7%, or 30 cents, to $42.32 per barrel after sliding 31 cents on Monday. U.S. West […]

UBS’ third-quarter revenue increases due to its strong performance in the global markets

On Monday, UBS Group AG (UBSG.S) reported a 99% increase in its third-quarter revenue in light of a strong investment banking performance and an unexpected rise in wealth management profit. “Our third-quarter results continue to demonstrate that our strategy is differentiating us,” UBS’ Chief Executive Officer Sergio Ermotti stated in an interview. Ermotti’s net profit […]

Cathay Pacific cuts 18% of its workforce amid the coronavirus pandemic

On Tuesday, South China Morning Post reported that Cathay Pacific Airways Ltd. (0293.HK) would furlough 18% of its workforce or almost 6,000 jobs and axed its regional brand Cathay Dragon. Hong Kong’s flag carrier said that the job cuts were made to help weather the coronavirus outbreak. In June 2020, the airline stated that it […]

Dollar set for weekly gain on stalled economic recovery

The dollar is on course for its best week of the month on Friday as rising coronavirus cases and little progress in a U.S. stimulus package prompted investors to seek safer assets. The dollar index rose to a two-week high of 93.910 as Europe and Britain reimposed restrictions. The U.S. Midwest is also battling record […]

China’s economy sees quarterly expansion as spending returns

China’s economic rebound had gained momentum in the third quarter. This followed after consumers were seen returning to their spending practices and as trading partners resumed operations, shaking off the historic downturn seen earlier this year. On an annual basis, the world’s second-largest economy is expected to record a 5.2% expansion from July to September. […]

United Airlines to cut costs amid the coronavirus outbreak

On Wednesday, United Airlines Holdings Inc. (UAL) announced that it would cut costs by 59% in the third quarter amid the coronavirus pandemic. The Chicago-based airline holding company said that it lost $1.8 billion or $6.33 per share in the third quarter. United Airlines’ total revenue dropped to $2.49 billion from $11.38 billion last year. […]

Asian shares mixed as stimulus hopes dwindle, virus concerns press

Asian share markets recorded a mixed performance on Thursday. This followed after optimism over U.S. stimulus talks had weakened and as new coronavirus infections in some parts of Europe reached record highs, prompting investors to resort to safe-haven assets. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.1% decline. Australia’s S&P/ASX 200 advanced […]

Gold falls by 2% as U.S. stimulus negotiations stall

Gold prices fell more than 2% on Tuesday, losing support from its $1,900 perch after negotiations for a U.S. economic stimulus ran into difficulties. The stimulus package was intended to help millions of Americans who were financially hit by the COVID-19 pandemic. The yellow metal had hit three-week highs above the $1,939 mark on Monday […]

Oil steadies amid U.S. Gulf, Libyan production reopening

Oil prices steadied in early Tuesday trade, sitting on almost 3% of losses from the last session after production resumed in Norway and the U.S. Gulf and Libya reopened refineries in their largest oilfields. The output restart came as rising COVID-19 cases in the United States and Europe stirred worries about fuel demand growth.  OPEC […]

China’s  imports, exports hike on global economic resumption

September had seen China’s imports advancing at their most rapid pace this year. Meanwhile, the country’s exports rallied further as more trading partners lifted coronavirus-driven restrictions in a bid to support the world’s second-largest economy. Imports advanced 13.2% in September. The figure reversed from a 2.1% drop in August as it came higher than the […]

Asian shares buck Wall Street as China rally eases

Asian share markets failed to track Wall Street’s rally, recording a series of declines on Tuesday. This followed after China’s post-holiday rally eased, but the technology sector’s upbeat performance and renewed hopes for U.S stimulus are expected to maintain investors’ sentiment. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.09% drop. China had […]

Offshore energy firms evacuate as Hurricane Delta approaches

Oil and gas workers evacuated from offshore production facilities as Hurricane Delta made its way towards the Gulf of Mexico. Oil producers had halted 57 of its production facilities in the U.S. Gulf of Mexico by Tuesday Oil companies have repeatedly evacuated and returned its workers from and to the region during the storm season, […]

Norway oil strike escalation may threaten production in six fields

A strike among offshore oil workers in Norway’s Johan Sverdrup oilfield threatened overall production with a total output of 330,000 barrels of oil equivalent per day (boepd) due to wage disputes, the Norwegian Oil and Gas Association (NOG) said on Friday. Norway’s labor union Lederne said on Wednesday that it would escalate the action from […]

Oil falls as worsening pandemic threatens demand

Oil prices dropped almost 1% on Friday as an increase in crude production came amid a worsening pandemic. Rising coronavirus cases are feared to reimpose restrictions on movement and consumption that will heavily weigh on fuel demand. Brent crude fell 0.9% or 36 cents, at $40.57 per barrel following a 3% fall on Thursday. U.S. […]

World stocks fall as Donald Trump tests positive for COVID-19

U.S. stock futures and other world stocks fell on Friday as United States President Donald Trump and his wife Melania Trump tested positive for the coronavirus a couple of weeks before the elections.   “News that U.S. President Trump has tested positive for COVID-19 must be worrying at a personal level, as it would be […]

Renewed U.S. stimulus prospects improves market sentiment

The possibility of renewed U.S. stimulus improved global investor sentiment, steering markets to what is set to be an explosive fourth quarter on Thursday. However, an all-day outage in the Tokyo Stock Exchange gave the month a rocky start. Europe’s STOXX 600 index gained 0.7% ahead of PMI economic data, which is expected to show […]

Global shares advance on U.S. stimulus, strong figures

Global share markets gained on Thursday. This was mainly from investors’ upbeat sentiment over fresh stimulus in the United States. However, caution was seen ahead of the upcoming presidential poll, while technical difficulties in Japan restricted gains. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.3% gain as Australian shares advanced 1.4%. Futures […]

Oil falls as rising coronavirus cases cloud demand recovery

Oil prices slid on Monday as rising coronavirus cases offset hopes for a smooth fuel demand recovery, with main crude benchmarks on course for their first monthly drops in several months following last week’s fall.  Brent crude slid 0.6%, or 23 cents, at $41.69 per barrel after a 2.9% fall last week. U.S. West Texas […]

European stocks open higher; aided by positive Chinese data

European stock markets traded slightly higher earlier on Monday, boosted by positive Chinese market data. However, gains were regarded as tentative due to the reemergence of COVID-19 cases in the region, further conveying signs of economic weakness. DAX futures in Germany gained 0.5% at 2:05 AM ET (0605 GMT), while CAC futures in France rose […]

Commonwealth Bank of Australia forecasts central bank to keep policy rates steady

Economists at the Commonwealth Bank of Australia said that it expects the Reserve Bank of Australia to hold interest rates at a record low of 0.25% at its Oct. 6 board meeting, contrary to calls for a cut from two major rivals. Financial markets are betting on a 60% chance of a cash rate cut […]

Boohoo to review labor violations of its Leicester suppliers

On Friday, Boohoo (BOOH.L) stated that it would have an independent review of significant labor violations at its garment suppliers located in Leicester. The United Kingdom-based online fashion retailer company said that it would look into allegations about poor factory working conditions. According to the company, Boohoo’s independent review would be headed by senior lawyer […]

Asian shares rebound on tech rally, stimulus optimism

Asian share markets recovered on Friday. This could be attributed to a tech-driven rally on Wall Street backed by strong U.S. housing data.  Moreover, investors were seen salvaging losses after a broad regional index recorded its biggest daily decline in more than three months. MSCI’s broadest index of Asia-Pacific shares outside Japan jumped 0.4%. The […]

Global shares slide amid fading economic recovery hopes

Global shares fell while the Dollar continued its gains earlier on Thursday as investor remained wary of another potential economic hit due to the COVID-19 pandemic, ahead of German sentiment data and speeches from officials from various central banks. The infection rate in Europe has begun to rise sharply, with a number of countries including […]

Asian shares weaken on investors’ appetite for U.S. dollar

Asian share markets were seen subdued on Wednesday, while the U.S. dollar recorded a two-month peak. This followed after investors’ sentiment was dampened by persistent worries about the global economic recovery, prompting them to resort to safer assets. MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.3%, recording its first gain this week. Japan’s […]

KKR & Co to invest $755 Million in Reliance Industries’ retail arm

On Wednesday, KKR & Co Inc (KKR.N) announced that it would invest 5,550 Million Crore ($755 Million) in Reliance Industries Ltd (RELI.NS) and Reliance Retail Ventures Limited (RRVL). The American global investment company said that the investment would provide funds for Reliance worth $1.78 billion within a month. Reuters reported that the Mumbai based multinational […]

Intel to obtain U.S. licenses to supply products for Huawei

On Tuesday, Intel Corp. (INTC) announced that it obtained licenses from the United States government to continue supplying products for Huawei Technologies (SHE: 002502). The American multinational corporation and technology company said that it had sought approval from the U.S. authorities to supply Huawei to continue its new notebook project. The U.S. Department of Commerce […]

HSBC HK shares fall to lowest since 1995, StanChart drops on FinCEN leak

HSBC and Standard Chartered’s Hong Kong shares fell on Monday after news that they and other banks moved large sums of allegedly illegitimate funds for almost two decades despite the questionable origins of the money. Media reports were based on leaked suspicious activity reports (SARs) filed by banks and financial firms with the U.S. Department […]

SoKor’s 20-day exports recover from months-long decline

The first 20 days of September saw South Korean exports recovering from six consecutive months of decline. The rebound was mainly from increased microchip and automobile sales, boosting recovery optimism in the trade-dependent economy. From Sept. 1 to 20, exports advanced 3.6% from a year ago. Meanwhile, imports recorded a 6.8% drop on an annual […]

Ericsson agrees to acquire Cradlepoint in a deal worth $1.1 Billion

On Friday, Ericsson (ERICb.ST) announced that it has agreed to buy CradlePoint Inc. in an acquisition deal worth $1.1 Billion. The Swedish multinational networking and telecommunications company said that the deal would create valuable new revenue streams for its customers by supporting full 5G-enabled services. “The investment is key to Ericsson’s ongoing strategy of capturing […]

Global shares falter as Fed fails to maintain upbeat sentiment

Global shares were seen at lows, while the dollar jumped on Thursday. This followed after the Federal Reserve pledged to maintain ultra-low interest rates for a long time. However, it opted out from providing stimulus to salvage the virus-beaten U.S. economy. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.82% decline. The index […]

Spotify stock falls after Apple released its new services bundle

On Wednesday, Spotify Technology’s (SPOT) shares fell by 7% after Apple Inc. (AAPL) launched a new bundle plan for all its services that lowered the price of Apple Music subscriptions. The Swedish music streaming and media services provider said that the Apple One bundle favored its own Apple Music service. “Once again, Apple is using […]

European stocks mixed ahead of central bank meetings

European stock markets mostly held steady earlier on Tuesday as investors tread cautiously ahead of upcoming central bank meetings despite signs of economic recovery in China. Data released on Tuesday morning showed that China’s economy had continued to show progress in August, with retail sales increasing by 0.5% year-on-year and a 45.6% increase in industrial […]

Citigroup boosts risk and control investment after operational error worth $900 Million

Citigroup Inc.’s (C.N) Chief Financial Officer Mark Mason stated on Monday that the bank was accelerating investments in its risk and control functions after a high-profile operational error worth $900 Million. He added that the bank prepared incremental investments this year worth $1 billion to shore up Citigroup’s infrastructure and improve risk management and compliance. […]

China’s gaming company Tencent opens a Southeast Asia regional hub in Singapore

On Tuesday, Tencent Holdings Ltd. (0700.HK) announced that it would open a new office in Singapore. The Chinese multinational conglomerate company said that it would serve as its regional hub in Southeast Asia. Tencent added its Singaporean base to its offices including Malaysia, Indonesia, and Thailand after some of its apps were banned in India […]

Asian shares advance on upbeat data, investors await Fed

Asian share markets advanced, while the dollar shed gains on Thursday. This could be attributed to investors’ upbeat sentiment over strong industrial figures from China and encouraging developments in vaccine clinical trials. China’s blue-chip index was seen 0.4% higher. The jump followed after Chinese data showed that the country’s industrial output expanded for five straight […]

U.S. stocks on track to open higher on COVID-19 vaccine hopes

U.S. stocks are on track to open higher after the pharma sector reassured progress for a COVID-19 treatment. Dow Jones futures gained 0.8% (218 points) at 06:30 AM ET (10:30 GMT), while S&P 500 and Nasdaq futures gained 1.1% and 1.4% respectively. However, there has been criticism on biotech firm Gilead Sciences Inc after it […]

Citigroup’s Jane Fraser to be the first woman CEO of Wall Street bank

On Thursday, Citigroup Inc. (C.N) named Consumer Banking Head Jane Fraser as the bank’s next chief executive officer. She would be the first woman to lead a major Wall Street bank. “I’m often asked, ‘Can you have it all? Can you do it all?’ And I say, ‘Yes, you can, but you can’t do it […]

Oil slides as rise in stockpiles hint at bumpy demand recovery

Oil futures fell in early Thursday trade on worries about fuel demand after U.S. crude inventories climbed last week against analysts’ expectations and coronavirus cases continued to spike globally. Brent crude futures fell 0.3%, or 14 cents, at $40.65 per barrel following a 2.5% gain on Wednesday.  U.S. West Texas Intermediate crude futures slid 0.5%, […]

Dollar holds overnight gains as traders focus on ECB

The dollar held on to overnight gains on Tuesday as investors weighed whether a policy shift from the European Central Bank could hit the euro, while the pound fell due to Brexit uncertainty. The dollar rose 0.2% against its peers. Against the euro, the greenback rose to $1.1816. The Aussie climbed 0.1% to $0.7280, while […]

Oil mixed on demand concerns following U.S. holiday

Oil prices were mixed in early Tuesday trade over demand concerns and a surge in COVID-19 cases following the U.S. Labor Day long weekend, the peak U.S. driving season. 22 out of 50 U.S. states reported a spike in coronavirus cases on the holiday weekend, while India and Britain also posted higher cases. U.S. West […]

Asian shares drop on tech-driven plunge

Friday marked Asian share markets’ weakest performance in two weeks. The decline followed after Wall Street monitored a tech-driven drop. However, earnings in safer assets remained subdued as investors awaited if employment data from the United States would result in a larger selloff. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 1.6% decline. […]

Dollar holds overnight gains as traders trim bets, yuan rises on upbeat data

The dollar held on to overnight gains on Thursday as investors lowered bets against the U.S. currency and sold the euro. Meanwhile, the European Central Bank expressed concern on the single currency’s rise. The dollar index bounced nearly 1% above the 28-month low it hit on Tuesday. Several analysts expect the greenback to rise but […]

K-Pop boy band BTS to become multimillionaire shareholders with Big Hit’s IPO

On Thursday, Big Hit Entertainment announced that the members of hugely popular South Korean K-Pop band BTS were expected to become multimillionaire shareholders after receiving shares in their label. The South Korean entertainment company said that it started preparing for its initial public offering (IPO) that could raise to 962.6 billion Won ($811 Million). Big […]

Asian factories emerge from pandemic drag, China leads

August had seen Asian factories emerging from the disruptions brought by the coronavirus. This followed after encouraging signs in China fuelled optimism for a stronger rebound in global demand, relieving policymakers from the pressure of implementing necessary measures to avoid a deeper recession. China’s Caixin/Markit Manufacturing Purchasing Managers’ Index reached 53.1 in August. This came […]

Dollar falls on Fed rate outlook, Aussie looks to RBA meeting

The dollar dropped to multi-year lows against its peers on Tuesday as the U.S. Federal Reserve’s shift in policy framework fueled speculation that U.S. rates will remain lower for longer.  The Aussie stood at a two-year high against the dollar as traders awaited a Reserve Bank of Australia meeting later in the day. The yen […]

Oil rises on stimulus support despite large supplies

Oil prices rose on Monday with Brent futures on course for a fifth monthly gain as global stimulus measures supported prices despite the weak demand in a well-supplied market. Brent crude futures for November gained 0.6%, or 27 cents, at $46.08 per barrel. U.S. West Texas Intermediate crude climbed 0.3%, or 14 cents, at $43.11 […]

Japan’s factory output jumps, retail sales plunge on pandemic hit

July had seen Japan’s factory output advance at its fastest pace on record. Automobile and car components fuelled the jump, suggesting a modest recovery from the coronavirus crisis. Japan’s industrial output advanced 8.0% in July, placing higher than the 1.9% record seen in June. The reading also came higher than the 5.8% growth estimated by […]

Dollar falls as investors expect policy shift in Fed speech

The dollar fell near its lowest level this week on Thursday as investors turned to Fed Chairman Jerome Powell’s speech for hints that the central bank might change its policy framework to boost inflation. Powell is scheduled to give a speech at the annual central bankers’ conference later in the day, which will be held […]

Oil steadies as U.S. Gulf braces for Hurricane Laura

Oil prices steadied on Thursday as a hurricane hit the United States’ key oil production facilities in the Gulf of Mexico, forcing oil rigs and refineries to close down production in the region. Brent crude futures for October delivery climbed 0.3%, or 13 cents, at $45.77 per barrel, while the November contract rose 10 cents […]

Stimulus hopes lifts European stocks slightly

European stocks were up slightly earlier on Wednesday after Germany and France agreed to roll out additional stimulus, lifting hopes of an economic recovery from the COVID-19 pandemic. Germany’s coalition parties have pledged to roll out a stimulus package amounting up to €10 billion, while Prime Minister Jean Castex said that France is set to […]

S&P 500, Nasdaq reach historic highs on trade, vaccine hopes

The S&P 500 and the Nasdaq reached record highs on Tuesday. However, gains fuelled by encouraging developments in Sino-U.S. trade and medical breakthroughs to combat the coronavirus were heavily dragged by a decline in Apple shares. Apple Inc’s subdued performance greatly affected all three indexes as its stocks declined 0.8%. This came before the company’s […]

Lyft to halt its ride services in California starting at midnight

On Thursday, Lyft Inc. announced that it would halt its ride-hailing services in California at the end of the day. The move came after the U.S. court granted a preliminary injunction last week requiring the carpooling company to reclassify drivers as employees rather than independent contractors. “This is not something we wanted to do, as […]

JPMorgan to launch its online British retail bank in 2021

On Friday, Sky News reported that JPMorgan Chase & Co (JPM.N) would launch its online British retail bank under its Chase brand in the first quarter of 2021. The planned venture would rival Goldman Sachs’ (GS.N) Marcus brand and other start-up companies including Monzo and Starling. According to a reliable source, JPMorgan had signed up […]

Japan consumer prices stagnant as deflation hovers

Japan’s core consumer prices were seen stagnant in July. This dampened hopes for a modest increase as the coronavirus crisis ravaged household demand and heightened the possibility of the economy plunging into deflation again. Japan’s core consumer price index maintained its level in July from a year earlier, data from the Ministry of Internal Affairs […]

British economic recovery not possible until after two years

Britain’s struggling economy is expected to take at least two more years to reach its pre-pandemic level, a Reuters survey showed. Though this is the case, there is only a narrow chance that the Bank of England will implement negative interest rates to fuel the recovery. In the third quarter, the economy had recorded a […]

Oil falls as demand worries dwarf U.S. stocks draw

Oil prices slid on Wednesday on worries that U.S. fuel demand may not improve as fast as expected. This came amid a deadlock in a new U.S. coronavirus fiscal aid, dwarfing a bigger-than-expected drop in U.S. crude inventories. Brent crude futures fell 0.7%, or 33 cents, at $45.13 per barrel. U.S. West Texas Intermediate crude […]

S&P 500 hits record high, wiping out losses from early 2020

The S&P 500 finally closed at a record all-time high since February, erasing losses made earlier in the year when the COVID-19 pandemic started to put a dent in markets. While the Nasdaq also closed at a record high, the Dow still couldn’t pull through for a second consecutive session. The Dow Jones Industrial Average […]

Home Depot beats second-quarter sales estimates amid the coronavirus pandemic

Home Depot Inc. (HD.N) reported that it managed to beat its second-quarter sales estimates on Tuesday. The largest home improvement retailer in the United States said that most customers purchased more construction tools and other home improvement products to do minor repair jobs while stuck at home due to the coronavirus pandemic. According to Institutional […]

Dollar nears two-year low as investors push euro to record high

The dollar index fell for the fifth straight day on Tuesday, nearing its lowest level in two years as it fell under pressure from low yields and gloomy U.S. economic data. The dollar index lost 0.3% to 92.55, nearing a two-year low of 92.49.  A rally in tech stocks suppressed the safe-haven bid for the […]

Asian shares seen gloomy after Wall Street’s tech-driven gains

Wall Street’s tech-boosted performance was dampened by Sino-U.S. tensions, sending Asian shares up on Tuesday. Meanwhile, the dollar was seen lagging behind almost all of its peers. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.19% gain, placing close to its pre-virus level and record high seen in January. Japan’s benchmark index Nikkei […]

Taiwan’s export orders to record five-month streak of gains

Taiwan’s export orders likely advanced in July, tallying five months of consecutive gains, a Reuters survey showed.  The upbeat record could be attributed to strong demand for technology products as people were prompted to stay at home during the coronavirus pandemic. Thirteen economists forecast that the country’s export orders will advance 3.7% from a year […]

Stock futures signal modest Wall Street gains ahead of retail earnings week

Data from U.S. stock index futures signaled that Wall Street was on track to make moderate gains for Monday just days ahead of a critical retail earnings report as well as housing data. As the second-quarter earnings season is about to come to an end, many await results from major retailers such as Walmart Inc, […]

Domino’s Pizza to hire 20,000 workers in the United States

American multinational pizza restaurant chain Domino’s Pizza Inc. (DPZ.N) and its franchisees announced on Monday that it would hire more than 20,000 workers in the United States including couriers and pizza makers. The majority of restaurant chains in the United States, including McDonald’s Corp (MCD.N), Chipotle Mexican Grill Inc. (CMG.N), and Dunkin Brands Group Inc. […]

Unemployment claims fall to 963,000 from last week

The number of unemployment claims in the U.S. fell to 963,000 last week, making it the lowest in a week since March as virus-led lockdowns continue to slow the pace of the country’s economic recovery. However, the figures showed signs of recovery in the labor market, even as worries that progress has been stalled due […]

S&P 500 closes just below all-time high as tech stocks lead the rally

The S&P 500 index last traded inches below a record high on Wednesday, with the rally led by tech stocks and hopes for a swift economic recovery from the COVID-19 pandemic. The index rose by 1.37% to 3,379, cutting in close to February’s high of 3,386. Meanwhile, the Down Jones Industrial Average gained by 289 […]

Dollar slides as traders doubt the passage of U.S. coronavirus aid

The dollar fell against most majors on Thursday amid weakening hopes for an agreement between Republicans and Democrats over a new coronavirus fiscal aid to support the U.S. economy. The dollar was at a disadvantage following a decline in Treasury yields. However, analysts say that this setback will only be temporary because U.S. lawmakers are […]

Dollar maintains one-week high following weeks of losses

The dollar maintained its gains on Tuesday after climbing to a one-week peak on the euro. The greenback’s steady gain is in light of the U.S.-China tensions and the deadlock on the U.S. coronavirus aid supporting safe-haven sentiment. The U.S.-China tensions escalated after a round of exchanges between the two countries, including Beijing’s sanctions on […]

S&P 500 futures reach an all-time high on stimulus bets

The S&P 500 reached an all-time high on Monday as investors ignored rising United States-China tensions to focus on President Donald Trump’s orders that could lead the economy’s recovery from the coronavirus pandemic. S&P 500’s benchmark index would open at 12 points lower than its February 19 record peak of 3,393.52. Amazon.com (AMZN.O), Netflix Inc […]

Simon Property faces difficulties amid the coronavirus pandemic

Simon Property Group (SPG.N), the largest mall owner in the United States, stated on Monday that it was struggling from the surging coronavirus outbreak in big states including California, Texas, and Florida. The company said that people were scared to go to newly reopened malls which severely affected the retail industry and market sales. Simon […]

Another coronavirus fiscal aid ‘incredibly important’, says Fed’s Evans

The United States government should release another coronavirus fiscal aid to support workers staying at home while the coronavirus outbreak continues to harm businesses, said Chicago Fed President Charles Evans in an interview. Evans said that protecting small businesses and communities to ensure that they can buy food and pay rent is up to U.S. […]

Oil prices dip on worries over U.S. recovery and stimulus talks

Oil prices dipped earlier on Friday, continuing losses from the previous session as the COVID-19 situation worsened, stalling U.S. talks for a much-anticipated stimulus deal. U.S. West Texas Intermediate (WTI) crude futures fell by 2 cents, trading at $41.93 per barrel by 10:46 PM ET (0246 GMT), while Brent crude futures dipped by 0.1%, last […]

Asian stocks down as U.S.-China tensions simmer

Asian stocks traded lower earlier on Friday as new tensions mounted between the U.S. and China. Recently, U.S. President Donald Trump issued executive orders to halt businesses from ByteDance, the owner of video-sharing app TikTok, and Tencent, owner of the WeChat app from operating within the country after 45 days. Trump added that the orders […]

Dollar falls further ahead of non-farm payrolls data

The dollar fell against its peers on Friday ahead of the release of the U.S. non-farm payrolls data, which investors fear could strengthen the view that momentum in the U.S. economy is slowing. Sentiment firmed against the dollar due to rising U.S. coronavirus cases, a steady decline in Treasury yields, and a stalling of the […]

Philippine economy records historic recession

The second quarter had seen the Philippine economy dropping more than what was predicted. This came to be the first recession of the country in almost three decades as the struggling economy continues to suffer from one of the world’s longest virus-driven lockdowns. The nation’s economy monitored a 16.5% contraction in the second quarter from […]

Indonesian GDP sees record contraction since 1999 for second quarter

Indonesia’s economy saw a record contraction since 1999 in the second quarter as the COVID-19 situation continued to affect consumer demand and economic activity in Southeast Asia’s largest economy. Data from Statistics Indonesia reported the country’s GDP to have shrunk by 5.32% from April to June year-on-year in contrast to a forecast of a 2.97% […]

US FAA announces its final plan for Boeing’s 737 MAX return

On Monday, the U.S. Federal Aviation Administration published the final list of required design changes to the Boeing Co (BA.N) 737 MAX. It also included some changes to its operation and maintenance procedures that must be completed for the jet to return to passenger service. According to the FAA, the design changes include new software […]

Bank of England to keep policy on hold due to gloomy economic forecast

The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy contracted by nearly a quarter between February and May with some economists predicting that […]

Asian stocks dwindle as global growth fears overshadow strong tech earnings

Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound in China and Japan’s manufacturing activities. MSCI’s broadest index of Asia-Pacific shares outside Japan erased initial earnings after dropping […]

Caterpillar reports its second-quarter earnings

On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter of the year, some dealers decided to decrease their machine and engine inventories worth $1.4 billion. The construction machinery […]

U.S. lawmakers accuse Big Tech executives of alleged abuse of market power

Apple, Google, Amazon, and Facebook’s chief executive officers faced Republican and Democratic U.S. lawmakers on Wednesday for the much-anticipated congressional hearing. The CEOs were questioned for alleged abuse of their market power that kept their enterprises unbeaten. Democratic lawmakers criticized the CEOs for buying startup companies and using their data to clone and kill off […]

Asian stocks jump, dollar plunges on Fed’s policy

Asian stocks advanced on the prospect of ultra-easy monetary policy as the U.S. Federal Reserve kept interest rates near zero. Fed deemed it necessary to salvage the ailing economy, dragging the dollar down to a two-year low. The target range for short-term rates remained between 0% and 0.25% as agreed by all Fed members. The […]

Intel’s Chief Engineer decides to leave the company on August 3

Intel Corp. (INTC.O) announced on Monday that Chief Engineering Officer Murthy Renduchintala would leave the company on August 3. The semiconductor manufacturing company said that it would reorganize its technology, systems architecture, and client groups. However, Intel’s new leaders would report directly to Chief Executive Officer Bob Swan. “I look forward to working directly with […]

Germany to implement tough audit regulations after the Wirecard scandal

On Monday, Deutsche Bundesbank’s President Jens Weidmann said in a newspaper interview that Germany would toughen its auditing and accounting regulations to prevent another scam like the Wirecard scandal. Wirecard AG (WDI), a financial services company, filed for insolvency on June after admitting that the 1.9 billion Euros that were supposedly held in trustee accounts […]

Oil rises, but gains capped by demand, U.S.-China tensions

Oil prices rose on Friday as the dollar dropped to a near two-year low, but demand worries amid rising coronavirus cases and the worsening U.S.-China tensions capped gains. Brent crude gained 0.4%, or 15 cents, at $43.46 per barrel. U.S. West Texas Intermediate crude was up 0.3%, or 12 cents, at $41.19 per barrel. U.S. […]

Oil climbs, but gains capped by weak demand

Oil prices rose on Thursday, but an unexpected build in U.S. crude oil reserves capped gains as the coronavirus pandemic curbed fuel consumption. U.S. crude and distillate stocks rose while fuel demand fell in the past week as a continuous surge of coronavirus cases hit U.S. consumption. Brent crude grew 0.1%, or 2 cents, to […]

Tesla to join the S&P 500 Index while CEO Elon Musk pushes for growth

On Wednesday, Tesla Inc. (TSLA.O) posted its second-quarter profit worth $104 Million from April to June despite shutting down its electric vehicle factory in Fremont, California for roughly seven weeks due to the coronavirus pandemic. Tesla Inc.’s shares rose by 4.4% in after-hours trading that could lead to the electric car maker’s inclusion in the […]

Dollar under pressure; Euro, Sterling strengthen on summit agreement

The Dollar fell on Tuesday, with the Euro and the British Pound Sterling gaining strength on the back of news that European Union leaders have agreed to roll out additional recovery funds in the region. New hopes for a potential COVID-19 vaccine also benefitted other commodity currencies. The Dollar Index lost 0.1% to 95.718 at […]

Asian shares advance higher on stimulus, vaccine optimism

Asian share markets were seen upbeat on Tuesday. This was mainly from investors’ high-risk appetite backed by hopes for a coronavirus vaccine and the possibility of a deal by European Union leaders to save their ailing economies. MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 1.5%, placing near its four-month high seen earlier this […]

Glenmark shares fall as India’s drug regulator sends notice on overpricing and false claims

Glenmark Pharmaceuticals Ltd was given a notice by the Drug Controller General of India (DCGI) on overpricing and false claims of its generic version of favipiravir, FabiFlu, according to local media reports, sending the company’s shares down as much as 5.8% on Monday. The drug regulator said that “the cost proposed by Glenmark (for FabiFlu) is […]

Singapore exports surpass estimates, advance 16.1% in June

June had seen Singapore’s non-oil domestic products advancing 16.1% from a year earlier. The reading managed to place above estimates backed by strong activity in shipments of pharmaceuticals, specialized machinery, and electronics, official data showed on Friday. The country’s exports recovered from a revised 4.6% contraction seen in May. The figure placed higher than the […]

Bank of Japan survey sees record demand for corporate loans amid worsening COVID-19 situation

Major Japanese banks saw record demand for the corporate loans that were offered since April as the COVID-19 pandemic continues to have companies rushing in to build up cash reserves, according to a central bank survey on Friday. The figures underline the extent of the damage the coronavirus and measures to contain the outbreak have […]

Federal Reserve warns a ‘thick fog of uncertainty’ as the coronavirus pandemic surrounds battered economy

On Tuesday, United States Federal Reserve officials warned a “thick fog of uncertainty” on the U.S. economy as it slowly recovers amid the surge in coronavirus cases. The U.S. central bank stated that the pandemic’s second wave would cause economic pain to deepen again. The U.S. coronavirus cases rose in 46 out of 50 states […]

Euro hits four-month peak on dollar over EU stimulus hopes

The euro hit a four-month peak against the dollar on Wednesday on hopes that the European Union would implement economic stimulus and deeper fiscal integration to support the economy amid the pandemic. The euro rose to $1.1423, its highest since early March. It hit a one-month high of 122.47 on the Japanese yen and was […]

Oil gains on U.S. crude stocks decline, focus on OPEC+ meeting

Oil prices gained on Wednesday after a steep decline in U.S. crude stockpiles, while markets await OPEC’s next steps on supply cuts to be announced after a meeting later today. Brent crude futures rose 0.2%, or 10 cents, at $43 per barrel. U.S. West Texas Intermediate crude futures were up 0.4%, or 14 cents, at […]

Singapore announces readiness of blockchain-based payments

Singapore said on Monday it is ready to release its developed blockchain-based payments network that would pave the way for faster and cheaper international settlements. The Monetary Authority of Singapore joined forces with state investor Temasek and J.P. Morgan to develop the prototype multi-currency payments network, being the final phase of the city-state’s Project Ubin. […]

Japan’s wholesale price drop eases in June, outlook dims on frail demand

June had seen Japan’s wholesale prices dropping slower than May’s historic decline. This followed as commodity costs advanced and some of the virus-driven deflationary pressure eased on a rebound monitored in Chinese demand. The corporate goods price index (CGPI) recorded a 1.6% drop in June from a year earlier, data from the Bank of Japan […]

Electric car company Tesla plans to join the S&P 500

Tesla Inc.’s (TSLA) Chief Executive Officer Elon Musk announced on Thursday that Wall Street’s most controversial stock might join the S&P 500 after the company’s market value has risen from $50 billion to more than $250 billion over a week. It equals the combined values of Toyota Motor Corp. (TYO), General Motors Co. (GM), Ford […]

Gold prices fall as it holds ground for eight-year high

Gold traded lower earlier on Thursday in Asia but still remained above the $1,800 mark for three consecutive days. Gold futures lost 0.04% to $1,819.95 per ounce at 10:22 PM ET (3:22 AM GMT), with the yellow metal holding on to gains from previous sessions. The safe-haven asset has managed to reach record levels since […]

Gold prices retreat amid rising global COVID-19 cases

Gold traded lower earlier on Wednesday in Asia even as the new COVID-19 cases continue to increase globally. However, gold prices still remained above the benchmark $1,800 level. Gold futures slipped by 0.18% to $1,806.6 per ounce at 12:48 AM ET (05:48 GMT). Stocks, which usually move inversely to gold, also traded lower. COVID-19 cases […]

U.S. pandemic aid program saves 51 Million jobs according to Trump administration

U.S. President Donald Trump’s administration said on Monday that the small business pandemic aid program worth $660 billion was as a “wild success.” The data showed that 51 Million jobs for America’s small businesses were saved. The Paycheck Protection Program (PPP), overseen by the Small Business Administration (SBA), was given to small businesses such as […]

European Commission forecasts deeper recession for 2020

The economy in the European Union will plunge deeper into recession for 2020 and may recover only slightly in 2021 than previously thought, the European Commission predicted on Tuesday. The downbeat assessment of Europe’s economy comes as concerns piled over the U.S. recovery the surge of new coronavirus infections. The EU executive said the 19-nation […]

Dollar firms as investors weigh risks

The dollar firmed on Tuesday as risks from rising coronavirus infections compensated for strong economic data and capped confidence on economic recovery. The dollar steadied on most majors, while the dollar index held on a near two-week low.  The Aussie fell from a one-month high as Melbourne imposed six-week stay-at-home restrictions due to rising cases. […]

Warren Buffett’s Berkshire buys Dominion Energy’s natural gas assets for $4 billion

Berkshire Hathaway Inc.’s (BRK.A, BRK.B) Chief Executive Officer Warren Buffett announced on Monday that its energy unit agreed to purchase the natural gas transmission and storage assets of utility company Dominion Energy Inc. (D.N) worth $4 billion. It’s the first major purchase from Berkshire since the coronavirus pandemic and subsequent market collapse in March 2020. […]

Asian shares reach four-month high on recovering U.S, China economies

Asian shares recorded a four-month high on Friday backed by strong payrolls data and an upbeat recovery monitored in China’s services sector. However, an increase in coronavirus cases in the United States restricted further risk-taking. MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.5%, hitting their highest level since late February. Meanwhile, Chinese shares […]

Aussie retail sales advance in May as economy resumes

May had seen Australian retail sales hitting a record level, official data showed on Friday. This followed after coronavirus-related lockdowns were lifted, allowing the entire sector to reopen and recover from a historic drop monitored in April. The country’s retail sales advanced a seasonally adjusted 16.9% in May. The reading came better after it tumbled […]

U.S. employment surge expected in June, masks fragile labor market

The U.S. economy likely boosted employment at record levels in June as more bars and restaurants resumed operations. Though this would indicate that the virus-driven recession was probably over, an upsurge in new coronavirus cases threatens any economic pick-up. Despite recording two consecutive months of gains, the country’s employment would still be about 16.6 million […]

Asian shares mixed as gloomy data casts doubt on recovery hopes

Asian stocks were mixed on Wednesday, while safe-haven assets such as gold and the Japanese Yen remained steady as the surge in COVID-19 cases in the United States dampened recovery hopes from stronger-than-expected factory activity in China. The MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.2% with Chinese blue chips leading with a […]

Oil gains after U.S. crude stocks plunge

Oil prices rose on Wednesday after U.S. crude inventories fell more than expected, hinting at an improving demand amid the resurgence of coronavirus. Brent crude gained 0.8%, or 33 cents, at $41.60 per barrel. U.S. crude added 1.1%, or 42 cents, at $39.69 per barrel. Both U.S. crude and gasoline stocks fell more than expected […]

Japan factory output drops as economy falls deeper in recession

Japanese industrial output in May dropped to its lowest level since the global financial crisis, underlining the deep impact of the coronavirus pandemic on factory productivity. Japan’s Ministry of Economy, Trade and Industry data reported an 8.4% fall to 79.1 in factory output in May. The country is headed for its worst postwar recession. May’s […]

Vietnam monitors 0.36% GDP contraction due to COVID-19 crisis

Vietnam’s economic growth slowed to a total of 0.36% in the second quarter. The reading came to be the slowest pace in decades and it could be attributed to the disruptions brought by the novel coronavirus pandemic. The country’s gross domestic product in April to June quarter hit 0.36% from a year earlier. This came […]

Asian stocks slip as gloomy outlook dampens market sentiment

Asian stocks fell earlier on Monday as the surge in COVID-19 cases in several countries dampened hopes for a quick economic recovery. The total number of cases worldwide has reached over 10 million, resulting in over 500,000 deaths as of June 29 according to data from the Johns Hopkins University. China’s Shanghai Composite fell by […]

Stocks and oil gain despite rising coronavirus cases

European shares firmed and oil prices rose on Friday as markets turned positive despite a record rise in coronavirus cases in the United States. European shares opened higher, with the FTSE 100 up 1% and the Stoxx 600 up 0.8%. The MSCI world equity index was up 0.3%.  The 10-year Treasuries yield steadied at 0.6725%, […]

Oil prices climb in light of demand recovery optimism despite coronavirus fears

On Friday, the market saw oil prices climb, an extension of its gains from the day before. Despite a resurgence in COVID-19 cases in some regions of the United States over the past days, the gains have been accumulated in light of the industry’s optimism for fuel demand across the globe. U.S. West Texas Intermediate […]

Deal reached by Lufthansa and cabin crew unions

On Thursday, airline group Lufthansa and unions representing German cabin crew reached an agreement that is set to reap more than 500 million Euros worth of savings. The German airline group stated in an interview that the measures, assented with UFO, had included procedures that aimed to stop pay rises, working hour cuts, and pension […]

Italy grants $7.1 billion loan to Fiat Chrysler

Italy’s Treasury announced on Wednesday the state’s approval to a 6.3 billion euro ($7.1 billion) loan to Fiat Chrysler, directed to its unit in Italy. This is the largest crisis loan granted to any auto firm to date. The announcement followed an endorsement by the Italian audit court, ending the long approval procedure for the […]

BOJ offers $78 billion in loan to virus-hit firms in first phase of lending program

The Bank of Japan (BOJ) on Wednesday offered ¥8.28 trillion ($77.74 billion) in loans to financial institutions under its first phase of its new lending program. The move came in a bid to transfer funds to firms that have been heavily affected by the COVID-19 pandemic. The 3-month loans will be extended on Thursday through […]

Gold prices soar amid surge in COVID-19 cases

Gold prices surged to their highest in almost 8 years on Wednesday as global shares showed signs of slowing amid the number of rising COVID-19 cases reeled in caution. Spot gold gained 0.2% to 1,770.92 per ounce after it had reached a record $1,773.00, its highest since October 2012 during early trade in Asia. Meanwhile, […]

Oil falls as U.S. inventories exceed forecast

Oil futures dropped on Wednesday as the build in U.S. crude inventories exceeded forecasts, raising concerns of oversupply. Brent crude lost 2 cents to $42.61 per barrel, while U.S. West Texas Intermediate crude futures slid 0.1%, or 4 cents, to $40.33 per barrel. U.S. crude stocks rose 1.7 million barrels last week, significantly bigger than […]

Asian shares hit four-month high on persistent market optimism

Asian shares recorded a four-month high on Wednesday brought by investors’ upbeat outlook for the global economy’s resumption. Meanwhile, investors’ sentiment grew even as cases of the novel coronavirus were seen reaching unprecedented levels. MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.5%, reaching its strongest record since the virus crisis ravaged markets in […]

Wall Street advances on recovery hopes, Nasdaq reaches new record

Wall Street’s three major indexes soared on Tuesday as improving economic data and the prospect of larger stimulus increased hopes of fast economic recuperation.  More so, the Nasdaq reached another record high backed by a jump in technology shares. The Dow Jones Industrial Average recorded a 0.5% jump while the S&P 500 closed its session […]

Oil prices hold steady on signs of demand recovery

Oil prices held steady on Tuesday, remaining unchanged from gains in the previous session after demand for fuel showed signs of picking. Brent crude rose by 6 cents to $43.14 per barrel at 0046 GMT after previously gaining 2.1% on Monday. U.S. oil rose by 8 cents to $40.81 per barrel after having risen by […]

UK car sector requests for more government help to cushion pandemic blow

Great Britain’s automobile industry called on the government to provide additional measures such as sales tax reduction. This aims to lift the suffering sector as a third of automotive employees remain furloughed due to the novel coronavirus pandemic. Car and van volumes are likely to drop by a third to 920,000 units this 2020 while […]

Japan factory activity at 11-year low as pandemic presses

June had seen Japan’s manufacturing activity struggling at an 11-year low.  This indicated that the novel coronavirus pandemic has greatly affected manufacturers even as services-sector confidence advanced. The au Jibun Bank Flash Japan Manufacturing Purchasing Managers’ Index (PMI) dropped to a seasonally adjusted 37.8. It followed after placing at 38.4 in May. This came to […]

Oil slips as concerns of demand recovery outweigh record cuts

Oil prices fell on Monday as fears that a second coronavirus wave could delay the recovery for fuel demand and outweigh the record output cuts. Brent crude slid 0.2%, or 10 cents, at $24.04 per barrel. U.S. crude dropped 0.3%, or 11 cents, at $39.72 per barrel. Both benchmarks increased 9% last week. In the […]

Uniqlo’s fast-drying masks debut in Japan, long queue formed

Japanese clothing brand Uniqlo began selling its washable and fast-drying face masks on Friday. Customers stood in long lines as rain poured down outside of stores prompting a flood of social media photos. Uniqlo’s website crashed due to the massive demand for the washable AIRism face masks. The servers remained down past midday and some […]

Japan sees easing economic damage, raises outlook

Japan raised its economic outlook in June for the first time in two years. This followed after the government monitored that the economic drag brought by the novel coronavirus pandemic had nearly come to an end. The country’s report for June indicated that the economy is still under an extremely severe situation as the pandemic […]

Japan deflation advances on weak consumer prices

Japan’s core consumer prices were seen struggling for two consecutive months in May. This increased deflation expectations and prompted policymakers to provide more economic reinforcements for the virus-beaten economy. The country’s core consumer price index (CPI) dropped a total of 0.2% in May from a year earlier, government data showed on Friday. This followed after […]

Oil falls on demand worries amid surge in coronavirus cases

Oil prices dropped 2% on Thursday as a surge in new coronavirus cases in the United States and China renewed fears about a slow recovery in fuel demand. Brent crude futures lost 1.5%, or 61 cents, at $40.10 per barrel. U.S. West Texas Intermediate crude futures fell 2.1%, or 80 cents, at $37.16 per barrel. […]

Dollar and yen rise on risk-off mood due to virus and economic worries

The dollar and the yen gained on Thursday as growing fears about a second coronavirus wave favored the appetite for safe-haven currencies. Several U.S. states reported a surge in new coronavirus cases and Beijing imposed travel restrictions in the capital to contain a second outbreak of the virus. Both served as a reminder of the […]

Gold climbs as the Dollar weakens with the Feds expanding Bond Buying Program

Tuesday morning saw the price of gold in Asia, effectively offsetting a number of its losses from a session before. The reported climb recorded after the U.S. Federal Reserve moved to buy individual corporate bonds through the secondary market that had effectively increased risk appetite. Gold futures went up by 0.51% at $1,736.05 by 12:17 […]

Dollar falls, risk currencies gain on Fed debt buying stimulus

The dollar fell on Tuesday following the U.S. Federal Reserve’s announcement to begin broad buying of corporate debt, lifting appetite for risk currencies. The Fed said that it will start buying diverse investment grade U.S. corporate bonds on Tuesday. This was to ensure companies’ access to cash and guarantee credit market liquidity amid the pandemic. […]

Asian stocks gain after Fed announces new bond-buying measures

Asian stocks rose earlier on Tuesday, surging overnight in U.S. markets after the Fed announced new measures in a bid to recover the U.S. economy from the COVID-19 virus. Japan’s Nikkei climbed by 3.42% at 10:16 PM ET (3:16 AM GMT), as investors await the Bank of Japan’s policy decision later in the day. Meanwhile, […]

Risk currencies drop on fears of second coronavirus wave

The dollar gained, while commodity currencies dropped as investors turned away from risky currencies amid fears of a second coronavirus wave lambasting major economies including China, Japan, and the United States. Beijing reported new infections for the second day on Monday, while the United States posted 25,000 new cases on Saturday alone. The dollar index […]

English property sales recover on lockdown easing: Rightmove

Estate agents in England have monitored a recovery in property sales. This could be attributed to the government’s move of lifting lockdown restrictions on May 13, Rightmove said on Monday. Rightmove said that property sales during lockdown dropped by 94%. June 5 records showed that sales were just 3% below their level a year earlier. […]

U.S. crude inventories record hit U.S. oil

On Thursday, assailed by another record build-up in U.S. crude inventories, oil prices fell. Also contributing to its dip is the projection made by the U.S. Federal Reserve that the world’s largest economy would see a shrink of 6.5%. Wednesday’s gains had been offset by Brent crude futures’ fall of 3.6%, or $1.50, to $40.23 […]

Oil prices fall amid demand recovery concerns, U.S. stockpiles see record growth

Oil prices fell more than 2% on Thursday on concerns over record stockpile growth among dwindling demand. Investor sentiment soured after the Federal Reserve estimated that recovery from the pandemic could take years. Meanwhile, U.S. crude stockpiles grew unexpectedly by 5.7 million barrels, seeing a record 538.1 million barrels in a week towards June 5. […]

Dollar bounces as traders await Fed policy meeting

The dollar bounced on Wednesday amid speculation that the U.S. Federal Reserve will take steps to control the rise in bond yields at its policy meeting. The dollar stood at 107.72 against the yen in Asian trade. It traded at 0.9512 on the Swiss franc. Investors are focused on the Fed policy meeting next week […]

Global airlines heading for $84 billion net loss in 2020: IATA

On Tuesday, the International Air Transport Association (IATA) announced that international airlines are in line to make a combined net loss of more than $84 billion this year due to the coronavirus crisis which has decimated air travel demand. According to IATA, airline revenues would likely fall from $838 billion to $419 billion this year. […]

European stocks push lower; German economy manifests further weakness

Early Tuesday saw European stocks push lower, resulting from signs of a weakening German economy, the region’s industrial powerhouse. The DAX in Germany traded 0.9% lower at 3:55 AM ET (0705 GMT). Also experiencing the plunge are France’s CAC 40 which fell by 0.7% and the U.K.’s FTSE index by 0.7%. In April, German exports […]

Dunkin’ plans to hire up to 25,000 employees as U.S. restaurants reopened

The breakfast and coffee chain Dunkin’ Brands Group Inc. (DNKN.O) stated on Monday that its franchise operators are planning to hire up to 25,000 employees in light of high demand after the United States reopened the restaurant industry. The Massachusetts-based company said that 90% of its restaurants were reopened and it would hire new jobs […]

European share loses gain streak as tech, healthcare stocks drop

European shares turned from three-month highs on Monday after technology and healthcare stocks saw losses. The drop dented hopes of an economic recovery from the COVID-19 pandemic. The STOXX 600 index slipped 0.4% as investors retreated from expensive names and flocked to banking, auto, and oil & gas stocks. Europe’s healthcare index lost 1.5%, with […]

Japan household spending drops historically on economic inactivity

April had seen Japan’s household spending dropping at its most rapid pace. The index fell as the novel coronavirus crisis halted travel and dining demand in the world’s third-biggest economy. More so, consumer sentiment dropped as unemployment surge looms. Household spending recorded an 11.1% drop in April from a year earlier, government data showed on […]

Broadcom to report earnings and revenue expectations, suggests a delayed Apple iPhone launch this year

On Thursday, the semiconductor manufacturing company Broadcom Inc. (AVGO.O) posted its second-quarter revenue estimates worth $5.742 billion and suggests a delay on the Apple Inc.’s (AAPL.O) iPhone 12 launch on the first week of September 2020. According to IBES data from Refinitiv, the chipmaker company was expected to report $5.79 billion in sales and earnings […]

Gold prices fall as U.S.-China tensions mount

Gold fell earlier on Thursday in Asia, losing a portion of its earlier gains amid escalating tensions between China and the United States. Investors flocked to the yellow metal on Wednesday after the U.S. suspended flights by Chinese airlines into the country with effect from June 16. Washington’s decision came after China had barred American […]

Warner Music Group launches the biggest IPO in the United States this year

The Warner Music Group Corp. (WMG.O) got off to a positive start on its Nasdaq debut on Wednesday. The world’s third-largest recording label sold shares worth $1.9-billion, marking the largest initial public offering in the United States this year. The WMG.O stock was opened for trading at 8% above its initial public offering price of […]

Japan’s manufacturing sector suffers from virus-beaten demand: PMI

May had seen Japan’s manufacturing sector dropping at its most rapid pace since March 2009, a private sector poll showed on Monday. The sector’s inactivity was due to a slump in demand brought by the novel coronavirus crisis. Japan Manufacturing Purchasing Managers’ Index (PMI) dropped to a seasonally adjusted 38.4. It placed lower than April’s […]

American Airlines will cut 30% of its workforce including management and support staff

American Airlines Group Inc. stated on Wednesday that it plans to cut 30% of its management and support staff or almost 5,000 jobs because of the coronavirus outbreak. American and other airlines are scrambling to cut costs because of the pandemic’s devastating effect on the aviation industry, which has pushed them to their first losses […]

Dollar slides as economic recovery hopes lift risk appetite

The dollar fell on Tuesday as signs of recovery from the pandemic lifted risk appetite, but the U.S.-China tensions weighed in. Commodity currencies Australian and New Zealand dollars both gained 0.5%, standing at $0.6571 and $0.6129, respectively. The Chinese yuan stood at $7.1326 in onshore trade. The Japanese yen traded at 107.80 on the dollar. […]

India’s first-quarter GDP growth runs slowest since 2012

India’s economy seemed to have expanded at its slowest pace in at least eight years in the first quarter. Weak growth was partly from the government’s efforts aimed at containing the further spread of the novel coronavirus. Asia’s third-biggest economy ran slower than its recorded pacing in 2019 as the implementation of a countrywide lockdown […]

Dollar bounces as U.S.-China tensions dampen mood

The dollar bounced on Thursday as the market mood turned positive, but U.S.-China tensions and weak economic indicators weighed in. The euro, as well as the Australian and New Zealand dollars, lost half of its overnight gains. The pound also slipped as soft inflation hinted at negative rates. The Australian dollar stood at $0.6561 and […]

Canada Goose will cut 125 workers amid virus outbreak

Clothing manufacturer Canada Goose Holdings Inc. (GOOS) announced on Wednesday that it would permanently terminate about 2.5% of its global workforce to address the impact of the virus outbreak leaving 125 people unemployed. The Toronto apparel maker said that it would continue supporting its laid-off workers, while Canada Goose’s staff will receive compensation packages and […]

SoKor’s May 1-20 exports drop, rate beats April figures

The first 20 days of May had seen a slump in South Korean exports. The country’s exports dropped a total of 20.3% from a year earlier as U.S.- and E.U.-bound shipments grew inactive, indicating that the coronavirus contagion dragged global demand. However, the numbers came out better than the 27.6% decline in April. More so, […]

Asian stocks mixed as Moderna vaccine results dampens risk sentiment

Asian stocks were mixed earlier on Wednesday, giving up its gains made on the previous day. Market sentiment remained so after several vaccine experts reported that U.S. biotech firm Moderna had not provided sufficient information on the efficacy of its potential COVID-19 vaccine. Stocks saw a boost on Tuesday after Moderna revealed on Monday that […]

Euro firms on EU recovery fund, yen nears 5-week low

The euro firmed on Wednesday following France and Germany’s proposal for a common fund in Europe’s hardest-hit regions in the crisis, while the yen neared to a five-week low despite risk appetite. The euro rose 0.15% to 1.0940 against the dollar. It traded at 1.0615 per Swiss franc. It stood at 118.20 on the yen, […]

Australia’s Qantas Airways will resume domestic flights but without social distancing

Qantas Airways Ltd.’s Chief Executive Officer Alan Joyce stated on Tuesday that the company would resume its operations with 40-50% of its domestic flights in July if the government would ease travel restrictions. The Australian airline would offer cheap flights and flexible fares to stimulate travel demand, but without social distancing measures. Starting June 12, […]

J.C. Penney plans to permanently close its 242 stores amid bankruptcy

J.C. Penney Co Inc. (JCP) stated on Wednesday that it plans to cut store count by approximately 29% to about 604, two days after filing for bankruptcy protection. The U.S. department store chain considers closing more than a fourth of its stores to reduce costs amid the pandemic. J.C. Penney did not identify which stores […]

Prospects of economic re-opening foster rise in European shares; oil and gold on the rise

On Monday, European stocks climbed up alongside oil prices, considerably at their highest in more than a month. These took place as lockdowns are being loosened, thus bolstering market sentiment despite COVID-19 not being contained entirely. With the warm weather inviting the nations to re-emerge from government-sanctioned lockdowns, centers of the outbreak like New York […]

European stocks surge after China factory output rises

European shares climbed on Friday as Chinese factory output increased, but U.S.-China tensions remain. The pan-European STOXX 600 surged 1.4%, with travel stocks gaining 2.7%. Miners .SXPP and chip makers also rose after China’s industrial output increased 3.9% in April. Global stock markets fell this month after continuous gains in April due to fears of […]

Dollar falls as U.S.-China trade tensions escalate

The Dollar fell on Friday morning, losing some of its gains from the day before. Investor fears mounted as tensions escalated between the U.S. and China after U.S. President Donald Trump signaled in an interview the night before that he might sever ties with the second-largest economy. The U.S. Dollar Index dipped by 0.34% to […]

Asian stocks mixed amid mixed outlook of China’s recovery

Asian stocks were mixed on Friday morning, putting an end to a rough week for the market. Investor sentiment remained unsure even as China rolled out efforts to recover from the COVID-19 pandemic. China reported a 3.9% increase in industry activity for April year-on-year, performing better than an Investing.com forecast of a 1.5% increase. However, […]

Australia’s unemployment rate to soar amid pandemic

Australia’s unemployment rate is expected to hit its largest monthly increase. The anticipated surge in joblessness was mainly from the disruptions brought by the COVID-19 pandemic, even as the country started lifting quarantine restrictions gradually.   The frail reading will highlight the impact of the coronavirus crisis on the national economy, with sharp reversal widely […]

Boeing records zero airliner orders in April

The American aerospace company Boeing Co. (BA.N) said on Tuesday that it failed to sell a single commercial airplane this year with clients cancelling another 108 orders for its grounded 737 MAX planes. It marked the second month this year in which Boeing received zero orders making it the worst year for the company since […]

Gold loses gains amid mounting fears over second COVID-19 cases

Gold prices fell on early Tuesday in Asia, losing gains from the previous session amid mounting fears of a second COVID-19 wave. Gold futures lost 0.7% to $1,705.65 per ounce at 12:05 AM ET (5:05 AM: GMT). China and South Korea have been moving quickly to contain a second outbreak that had spread over the […]

UK Finance Ministry fears budget deficit to hit 337B pounds: Telegraph

The Finance Ministry of the United Kingdom worries that the government’s budget deficit this year could reach a record 337 billion pounds as the coronavirus pandemic continues to wreak havoc to the British economy. This development is cited by an internal government document as reported by the Telegraph newspaper on Tuesday. If worse comes to […]

Dollar hits two-week high amid safe-haven demand, second coronavirus wave

The dollar hit a two-week high against major currencies on Tuesday amid rising U.S. bond yields and a higher demand for safe haven. This came after reports of new infections threatened a possible second coronavirus wave. The Australian dollar lost 0.8%, at $0.6432, nearing a one-week low. The New Zealand dollar slipped 0.4%, at $0.6047. […]

Oil gains as Saudi Arabia announces further output cut

Oil futures gained on Tuesday, lifted by Saudi Arabia’s deeper production cuts to buoy prices amid the supply glut and weak demand. Brent crude futures rose 0.8%, or 24 cents, at $29.87 per barrel. U.S. West Texas Intermediate crude futures climbed 1.6%, or 38 cents, at $24.52 per barrel. Saudi Arabia announced an additional 1 […]

Pfizer outsources drug production to focus on experimental coronavirus vaccine

The American multinational pharmaceutical corporation Pfizer Inc. (PFE.N) announced on Friday that it will subscribe to contractors outside the company for it production. It is in preparation for a large-scale production of the experimental COVID-19 vaccine, provided it proves effective in curing the deadly coronavirus.                                           According to an interview conducted by Reuters, the President of […]

Gold drops just above $1,700 mark amid fears of second COVID-19 wave

Gold prices fell on Monday morning in Asia, but still remained above the $1,700 mark. Gold futures dropped by 0.26% to $1,709.60 per ounce by 11:58 PM ET (4:58 AM GMT). Meanwhile, Asian stocks saw gains. Gold and stocks have been observed to move in the opposite directions. With fears growing of a second wave […]

Pound rallies after BOE maintains size of bond-buying program

The British Pound Sterling recovered from a two-week low after the Bank of England (BOE) announced that it had decided to maintain the size of its bond-buying program. The UK central bank had previously slashed its benchmark interest rates to a record low of 0.1% and had pledged to buy a debt of £200 billion […]

Global shares decline amid U.S.-China dispute, oil drops

Global shares floundered while the yen rose on Wednesday as markets in China struggled in regaining momentum after a long holiday. Dampened market mood could be attributed to the Sino-U.S. dispute while oil failed to extend high records due to weak demand. Wall Street futures reversed after recording a positive start, with S&P E-mini futures […]

Oil prices gain on positive demand outlook

Oil prices gained on Tuesday after fuel demand turned positive as lockdowns began to ease in some parts of the world.  West Texas Intermediate crude futures were up 6.5%, or $1.33, at $21.72 per barrel.  Brent crude futures rose 4.8%, or $1.31, at $28.51 per barrel. The market mood eased after U.S. states and countries […]

SoKor’s manufacturing sector suffers as demand declines the sharpest in April

April results showed South Korea’s factories suffering under the pandemic. Global quarantine restrictions sent manufacturing operations declining the fastest since 2009 and exporters beaten by the historical drop in demand in 16 years.     April figures show that the IHS Markit purchasing managers’ index (PMI) declined to 41.6 from its initial standing of 44.2. This […]

SoftBank to lose $6.6 billion in WeWork, adding to portfolio woes

Japan’s tech conglomerate SoftBank Group Corp said it sees a loss of nearly ¥700 billion ($6.6 billion) by the end of March on its WeWork investment outside the Vision Fund. Furthermore the group is also expecting a net loss of ¥900 billion from the investments made through the $100 billion fund. The announcement comes as […]

Germany gives state aid worth 9Bn Euros for Lufthansa

The German government finally decided to help its flagship carrier Lufthansa (LHAG.DE) with a state aid worth around 9 billion Euros ($9.74 billion) in return for a blocking minority and one or two commands from the Supervisory Committee, news outlet Business Insider reported on Tuesday. According to Business Insider, German government representatives and Lufthansa had […]

Muyuan Foodstuff Co shares up after $579 million 1Q profit

On Sunday, China’s second-largest pork producer, Muyuan Foodstuff Co. reported a net profit of CNY4.1 billion ($578.86 million) for the first quarter of the year at the Shenzhen Stock Exchange. Muyuan’s shares soared by 5.21% to CNY135.09 ($19.19) per share at 12:57 AM ET (5:57 AM GMT). The company had previously reported a net loss […]

EU organizations can request loans up to 5% of turnover

The European Union organizations affected by the virus outbreak will have the option to request a government loan up to 5% of their turnover last year under a benchmark proposed by the European Commission, a reliable source stated on Sunday. Different sources with direct understanding on the issue told Reuters on Saturday that some EU […]

Asian shares dove after failed COVID-19 drug and threats of economic damage

Today, April 24th saw the falling of Asian shares and U.S. stock futures. This resulted from doubts on narcotics that could potentially cure COVID-19 and an apparent damage in the U.S. economy due to the outbreak. Among the shares in the Asian regions that fell are MSCI’s broadest index of Asia Pacific outside Japan with […]

Oil prices recover due to production cut, tumultuous weeks ahead

Oil prices gained on Friday as Kuwaiti oil producers said they will slash output to compensate for low demand. Brent crude rose 2.8%, or 60 cents, at $21.93 per barrel. U.S. oil was up 4%, or 66 cents, at $17.16 per barrel.  As the West Texas Intermediate fell into negative territory and the Brent in […]

Netflix seeks $1 billion loan to fund new shows

Streaming service giant Netflix Inc (NFLX.O) will raise a $1 billion debt on Thursday to fund original shows and potential acquisitions. The American media-services provider and production company revealed that they have more than doubled its own projections for new customers and admitted that it was all because of the virus outbreak. The company’s shares […]

SIFMA asks SEC to intervene for U.S. brokers in CAT database conflict

On Wednesday, a leading financial industry trade group told regulators, “U.S. brokers should not be forced to sign an agreement that could make them liable for breaches of a massive new industry trading database that they have no control over.” Together with the Financial Industry Regulatory Authority (FINRA), Securities and Exchange Commission (SEC) exchange operators […]

COVID-19 drags down Asia’s services and factory sectors

A poll released on Thursday showed that the virus outbreaks heavily damaged Asian economies in April. The weak economic activity was brought by the implemented social-distancing measures and business shutdowns which damaged the region’s services sector. The pandemic, which has resulted in 180,000 deaths and 2.5 million cases worldwide, has also brought disruptions to the […]

JPMorgan Chase will bring employees back on-site amid virus outbreak

In an internal memo seen by Reuters, American multinational investment bank, JPMorgan Chase & Co (JPM),  informed its employees on Tuesday that it is creating a plan to gradually return to on-site work. Discussions about the reopening of the U.S. economy are still ongoing amid the virus outbreak that had thrown 22 Million American citizens […]

Singapore to see recession as lockdown extends, Citigroup warns

Singapore might see a deeper recession for 2020 after the city-state extended its partial lockdown, investment banking company Citigroup Inc warned on Tuesday. The nation’s GDP could shrink by 8.5% in contrast to its previous forecast of a 6% contraction, according to a note by economists Wei Zheng Kit and Kai Wei. The change in […]

Shake Shack returns $10 Million emergency loan to United States

According to CEO Randy Garutti and founder Danny Meyer, Shake Shack Inc (SHAK) will return all $10 Million it received from the U.S. government as a part of the Small Business Administration (SBA) loan on Tuesday. The burger chain is the first major company to immediately return the budget handed by the government to aid […]

UK launches £1.25-billion plans to aid struggling businesses amid virus crisis

The British government will launch a 1.25 billion pound package ($1.6 billion) on Monday to support and protect innovative companies amid the virus outbreak. The package includes a 500-million pound investment fund for high-growth firms that were severely affected by the crisis and 750 million pounds for small and medium sized businesses that were focused […]

Pandemic to suspend Asia’s 2020 growth: IMF

The novel coronavirus pandemic threatens the economic growth of Asia and is likely to halt the economy for the first time in six decades. The International Monetary Fund rendered the forecast on Thursday as the global contagion continues to inflict disruptions in the services and export sectors. The IMF released figures indicating that while Asia […]

Dollar rises on new Fed lending program

The dollar rose against Asian currencies on Wednesday after the U.S. Federal Reserve announced a new lending program. However, the dollar faced strong headwinds following the release of U.S. retail sales and industry data which revealed the economic damage caused by the pandemic.   U.S. President Donald Trump announced on Tuesday night that he was aiming […]

South Korea’s crude imports fall 2.1% in March

South Korea’s crude imports in March dropped 2.1% year-on-year, dragged down by weak demand amid the coronavirus pandemic. The world’s fifth-largest crude importer purchased 11.30 million tonnes of crude oil in March, equivalent to 2.67 million bpd. Crude imports a year earlier amounted to 11.54 million bpd. South Korea’s decline in imports came after oil […]

Oil gains as investors go on bargain-hunting, hopes for reserve purchases

Oil prices were up on Wednesday as investors went on a bargain spree after the last session’s decline and on hopes that countries will fill their strategic reserves. However, threats of a global recession and oversupply prevented further gains. Brent futures rose 1.3%, or 38 cents, at $29.98 per barrel. U.S. West Texas Intermediate crude […]

Asian shares gain, China cuts interest rate

Asian shares recuperated on Wednesday amid an impending worst global recession in seven decades highlighted a severely hurt economy while some countries attempted to resume businesses. The interest rate reduction prompted MSCI’s broadest index of Asia-Pacific shares outside Japan to advance with 0.3%, hitting its one-month high. However, the Japanese benchmark index Nikkei had declined […]

Dollar falls as Chinese trade data shows positive market mood

The dollar fell on Tuesday while risk currencies rallied after China’s trade data showed a more optimistic view than anticipated. The coronavirus death toll slowdown brought hopes to investors that the pandemic may be over soon. Yuan-denominated exports declined 3.5% year-on-year, while imports gained 2.4%, according to customs data on Tuesday. The Australian dollar was […]

Oil gains as U.S. shale output set to decline

Oil gained more than 1% on Tuesday as the U.S. energy forecasting agency said that shale output would have a record decline in April, adding to production cuts agreed between other major oil producers. Brent futures gained 1.7%, or 53 cents, at $32.27 per barrel. U.S. West Texas Intermediate crude rose 1.4%, or 32 cents, […]

Gold rises as safe haven amid economic turbulence

Gold prices carried gains well from the previous session and regained its status as a safe-haven commodity as the COVID-19 pandemic continues to disrupt global economy. Gold Futures reached record levels on Monday and rose by 0.35% to $1,797.6 per ounce at 9:25 PM ET (2:25 AM GMT). The rise comes as investors subscribed to […]

Samsung Electronics’ first-quarter profit hits 3%, surpassing forecasts

Samsung Electronics Co Ltd (005930.KS) disclosed on Tuesday that its first-quarter operating profit inched up to 3%, surpassing analysts’ expectations as chip sales nursed the impact of the coronavirus contagion on smartphones and televisions. Samsung expected a total of 6.4 trillion won (equivalent to $5.2 billion), to be its operating profit in the quarter ended […]

Pound to recover losses against dollar but analyst estimates slashed

The British pound will have recovered its losses against the dollar in a year. However, analyst forecasts a month ago were cut as the coronavirus continues to create chaos.  The pound declined in recent weeks as concerns about the pandemic’s impact on the economy drove investors to safer currencies and to liquidize assets in exchange […]

U.S. Treasury hires Wall Street bankers, lawyers for aid advice

The U.S. Treasury Department hired lawyers and Wall Street bankers to serve as consultants regarding billions of dollars’ worth of aid to the defense, cargo, and airline sectors, sources said. The aid advice followed the approval of a $2.2 trillion stimulus bill last week to ease the economic fallout amid the pandemic. The virus has […]

Oil hikes after Trump says Saudi, Russia likely to resolve price war

Crude oil futures gained almost 5% on Thursday after U.S. President Donald Trump stated that he anticipated an agreement will be reached by Saudi Arabia and Russia regarding their price war. Brent crude futures climbed 4%, or $1, at $25.74. US West Texas Intermediate crude futures rose 3.7%, or 75 cents, at $21.06. Trump said […]

Disney+ will launch on OSN in UAE today

The Orbit Showtime Network has announced the launch of Walt Disney Co’s (DIS.N) Disney+ in the Middle East and North Africa. It will be accessible on pay television and streaming service provider starting on Thursday. OSN has revamped its range of services and now has shows like Disney’s recent hit “The Mandalorian.” Disney+ is available […]

Macy’s loses spot in S&P; Carrier Global takes over

Macy’s M.N, an American department store chain, dropped its spot from the S&P 500 Index standard. Macy’s shares dropped 80% in the last 12 months of their operation which results in a lowered market value of $1.52 billion as of Tuesday’s close, based on Refinitiv IBES data. The company said that the store closures and […]

Asian shares soar, China’s manufacturing sector recovers

Asian shares recorded a positive but cautious increase on Tuesday as figures from China indicated that the factory sector regained momentum. MSCI’s broadest index of Asia-Pacific shares acquired 1.1% and Japan’s benchmark index Nikkei added 1.0% after a tumultuous start. South Korea’s .KS11 finished its session with 2% gains. China’s official manufacturing purchasing manager’s index […]

Indonesian stocks plummet by 5%, trade halts temporarily

Indonesian stocks plummeted to a level that resulted in a temporary trading halt as the number of infected cases by the coronavirus locally and globally increased significantly. The Jakarta Composite Index plunged by 5%, ending its 2-day gain streak and triggering a 30-minute trading halt. The benchmark had previously soared by 15% in the past […]

Gold prices fall off 2-week highs amid equities recovery

Gold prices fell from its two-week high perch on Friday in Asia amid a recovery in equities. Gold Futures for April delivery last traded on the Comex exchange at $1,640, dropping by 0.7% by 12:55 AM ET (04:55 GMT). Despite the day’s losses, gold trade at a high above 8% for the week and has […]

Reserve Bank of India slashes interest rates in urgent bid to bolster virus-hit economy

The Reserve Bank of India (RBI) decided to cut interest rates unexpectedly on Friday in an emergency move to bolster the nation’s economy affected by the virus outbreak. The RBI’s move joins many other stimulus-boost efforts by central banks around the world. Its benchmark rate was cut by 75 basis points from 5.15% to 4.40% […]

RBA buys semi-government bonds as coronavirus crushes state revenues

The Australian central bank bought semi-government bonds for the first time since the quantitative easing program launched to counter the pandemic and its impact. The Reserve Bank of Australia purchased A$2 billion ($1.2 billion) in semi-government bonds maturing in January 2026 to June 2030. As businesses in Australia stopped operations due to lockdown, the semi-government […]

Nike income drops as digital growth covers China sales decline on virus impact

Nike Inc (NKE.N) beat estimates for quarterly income on Tuesday as strong digital market covered the first China sales drop in nearly six years from the coronavirus-powered shutdowns, yet the company held back from providing an estimate forecast due to the unrelenting pandemic. The coronavirus outbreak forced Nike to temporarily close down stores to help […]

India stocks recover from record losses as support rallies in favor of domestic market

India stocks rose, taking back ground after record losses on Monday after investors picked stocks that have dropped significantly as the nation goes into lockdown to limit the spread of the COVID-19. The S&P BSE Sensex gained by 1% to 26,239.96 as of 9:47 AM in Mumbai. Meanwhile, the NSE Nifty 50 Index had also […]

Dollar advances as virus crisis prompts investors to seek cash

TOKYO- The dollar topped the trading board against basket of other major currencies on Monday. Upbeat performance was mainly from investors’ decision of resorting to fiat currencies as recent setbacks faced by global stocks and concerns of tightening liquidity continue to press. The U.S. greenback gained against sterling and recorded its strongest activity since 1985. […]

Fed officials ensures additional action as virus outbreak dampens economic outlook

U.S. Federal Reserve officials with experience handling crises said that the central bank was open to roll out additional action in order to soften the economic impact of the coronavirus pandemic. As of now, the Fed are aiming to provide assistance to corporate bonds as well as local and state governments. St. Louis Federal Reserve […]

NYSE transitions to e-trading after two confirmed coronavirus cases

The New York Stock Exchange is set to close its trading floors and transition to electronic trading for the mean time after an employee and a trader tested positive for COVID-19. The two were last in the building on March 13, said NYSE owner Intercontinental Exchange Inc. NYSE is set to close some of its […]

Airlines’ cash drawers emptied, virus causes $157 billion loss from share values

Global airlines are caught in a bind as the coronavirus outbreak reaches for their bottom dollar. They had slashed capacity by 90% and had even grounded fleets due to travel restrictions.   The ungodly spread of the virus had managed to take out 41%, or $157 billion, of the share value of 116 listed airlines […]

US stock futures slip as virus outbreak dwarfs fiscal stimulus

US stock futures slid in Asian trade on Wednesday as pandemic fears grew on policy support to protect economies from fallout.  U.S. stock futures dropped 2.0%, following a 6.00% gain in S&P 500 on Tuesday, recovering half of its losses on Monday. S&P 500’s gain came after the coordination of global fiscal policies in order […]

Dollar holds gains overnight against most major currencies

The U.S. Dollar held overnight gains against most major currencies on Wednesday amid a rise of U.S. yields and piling fears of the economic impact of the coronavirus pandemic had investors retreating to the Greenback. The British Pound as well as the Japanese Yen attempted to recover at its best efforts but only managed to […]

Samsung says growing demand may increase chip market sales

Samsung Electronics Co Ltd said on Wednesday that while the piling economic fears of the coronavirus pandemic would hurt sales of consumer electronics for 2020, it said that a growing demand from data centers could potentially restore its memory chip markets. Chief Executive Kim Ki-nam said that the virus outbreak as well as the U.S.-China […]

Gold Prices take back ground as U.S. stocks rebound sharply

Gold prices took back ground from Tuesday’s $1,500 drop on Wednesday morning as new U.S. stimulus package bounced stock markets sharply overnight. Gold futures inched up by 0.55% to $1,534.20 by 10:20 PM ET (2:20 AM GMT). The rise in gold prices has been widely attributed to recent efforts around the world to prevent a recession. Central […]

UK to rally business support as coronavirus spreads further

The United Kingdom had announced on Tuesday that it would be ramping up on support for businesses affected by the virus outbreak. The government had recently told its people to avoid public areas such as pubs, restaurants, and theaters which had hurt a majority of companies in the country. The Bank of England’s Finance minister […]

Oil prices climb $1 as steep declines attract bargain buyers

Oil gained over $1 on Tuesday as investors began bargaining due to recent steep declines in prices caused by the pandemic and the Saudi Arabia-Russia price war. However, fears of recession still loom over the market. Brent crude went up 1.8%, or 55 cents, at $30.60 per barrel, following a high of $31.25. U.S. West […]

Bank of Japan takes additional steps to stabilize market in an emergency meeting on Monday

The Bank of Japan is awaited to acquire other steps to balance the markets and minimize the economic impact from the coronavirus outbreak in an emergency meeting on Monday. They were connected with other central banks and they also tried to calm the investors. The Japanese central bank was prepared to increase asset purchases and […]

Wife of Canada’s Prime Minister Justin Trudeau tests positive for coronavirus

Canada’s Prime Minister Justin Trudeau will be isolated for two weeks because his wife, Sophie Gregoire Trudeau, had confirmed positive for coronavirus on Thursday. The outbreak led the province of Ontario to screen the schools to limit the spread. Sophie Gregoire Trudeau recently came back from London and showed flu-like symptoms. “She was tested for […]

Oil gains for second day as investors turn to US producers’ output cut

Oil prices rose for the second consecutive day on Wednesday as markets clung to potential production cut by U.S. producers. However, increase in prices were smaller compared to the crash on Monday after Saudi Arabia started a price war with Russia. West Texas Intermediate jumped 3.3%, or $1.12, at $35.48 per barrel, while Brent crude […]

Asia Pacific stocks strive for market power, Dow futures moves up 500 points

Most of Asia Pacific stocks, save for the US stocks which gained after the outbreak of the novel coronavirus, fell on Tuesday.  The benchmark for Australian’s equity performance S&P/ASX 200 was up 1.7%, regaining previous losses. It’s now trading nearly 19% below its most recent high, just under the 20% which still remains in a […]

Bank of Japan  scrutinizes markets for “very unstable” moves, exposes cost of ETF buying

Bank of Japan Governor Haruhiko Kuroda said he was analyzing the financial blowback from volatile market movements. Kuroda confirmed central bank’s preparedness to take appropriate action to increase assistance in obstructing the developing dangers from the coronavirus flare-up. He also disclosed the BOJ’s prediction which revealed its holdings of exchange-traded funds (ETF). Paper losses may […]

Asian shares turn steady as markets rely on global policy stimulus

Asian shares recovered and bond yields climbed from all-time lows on Tuesday as potential organized stimulus from central banks and governments globally calmed markets. The 10-year US Treasury yields rose to 0.68% and oil prices hiked over 6%, raising notions that the market steadied, even for a while. Senior FX strategist Rodrigo Catril at National […]

Dollar recovers as oil and virus threats lurk

TOKYO- The dollar managed to climb on Tuesday after meeting sharp decline versus Swiss franc, yen, and euro. Such boost was enforced by optimism on US economic stimulus and recovery in Treasury yields.                 The previously beaten dollar found its momentum and recovered from previous defeat against other currencies.  It clocked in 1% to 103.26 […]

Global shares suffer in COVID-19 panic, oil underperforms

SYDNEY- Global shares plummeted on Monday as wary investors sought bonds to equalize the economic impact of the novel coronavirus. Oil followed trend and shed more than 20% after Saudi Arabia cut its official selling price. Investors anxiously resorted to 30-year U.S. bonds pushing it up neutral to 1%. Such followed as markets anticipated that […]

ADB says coronavirus could cut global growth by 0.1% to 0.4%

The Asian Development Bank (ADB) said on Friday that the spread of the exceedingly infectious coronavirus outside of China might cut worldwide economic growth for the year. According to the Manila-based lender, the outbreak could cut global GDP by 0.1% to 0.4% with losses reaching between $77 billion and $347 billion. In Asia, development could […]

Australian economy recuperates but outlook remains dim

SYDNEY- Australia’s economic growth picked up pace and soared beyond what is expected last quarter. The recovery removed the threat of recession even as bushfires and novel coronavirus contagion brought disruptions to tourism and the travel sector earlier this year. The risks posed by the COVID-19 urged the Reserve Bank of Australia (RBA) to reduce […]

Box Inc predicts first-quarter revenue will beat analyst forecasts

Box Inc. predicted its first-quarter revenue to beat Street estimates due to higher demand for its online software products, causing its shares to gain 9% in extended trading. The company beat fourth-quarter profit and revenue, lifted by its add-on services and the subscription of bigger companies to its products. As companies move to an online […]

Dollar slides, loses safe haven status

The dollar slipped on Wednesday as investors question its relative strength, together with other US financial assets, as central bank imposed rate cuts and health officials warned of a potential domestic virus outbreak. The dollar’s index declined to 98.980 against a basket of major currencies. It lost 0.9% since its peak at 99.915 the previous […]

S&P 500 drops to its lowest since 2018 over coronavirus fears

The S&P 500 dropped to its lowest in two years on Monday when a sudden rise in coronavirus cases outside China caused investors to worry about valuation after the recent highs. The S&P 500’s 3.5% drop was its heaviest fall in a day since February 2018, during Wall Street’s correction. Market fears came after investors […]

Asian shares seek for momentum as S&P futures recover

SYDNEY- Asian share markets tried to find and gain momentum after earnings from early session declined and Wall Street futures soared far from its previous inactivity. The positive performance eased investors’ wariness brought by the coronavirus contagion. Reports have it that a vaccine eased investors’ heavy sentiment. However, human tests of the medication may take […]

PepsiCo agrees to buy Chinese snack brand Be & Cheery for $705 million

PepsiCo agrees to buy Chinese snack brand Be & Cheery for $705 million PepsiCo Inc has agreed to buy the China-based snack brand Be & Cheery from Haoxiangni Health Food Co Ltd for $705 million, according to the companies. Haoxiangni said, in a separate filing, that its decision to sell the snack brand was so […]

Teck withdraws C$20.6 billion application for oil sands Frontier project

Canada’s Teck Resources Ltd. pulled back the request to build a C$20.6 billion ($15.7 billion) Frontier oil sands mine in Alberta, which had been heavily criticized by environmentalists and indigenous groups and is on the final stage of decision for approval. Teck said that it would write down the project’s C$1.13 billion ($852.12 million) carrying […]

Oil sinks on pressing demand problems as nCoV spreads on global scale

SINGAPORE- Oil lost an estimated 3% earnings and fell close to hitting one-week low on Monday as the rapid coronavirus contagion outside China dampened markets sentiment and made investors wary on dwindling crude demand. Global shares also hit lower grounds as virus concerns resurfaced brought by bloating records of virus cases in South Korea, Italy, […]

Alibaba extends help to firms hit by coronavirus spread, offers $2.86 billion in loans

Alibaba Group Holdings announced on Monday that its affiliate Ant Financial’s MYBank unit is out to lend 20 billion yuan ($2.86 billion) in loans to firms in China amid the coronavirus spread, with special offerings for companies in Hubei province. According to Alibaba’s official statement posted on its official Weibo account, 10 billion yuan will […]

Japan’s economy falls in fourth quarter, recession risks grow

Japan’s economy fell to its fastest pace in six years, caused by a sales tax hike that hit business and consumer spending, worsening an outlook already affected by the virus outbreak. Analysts say that the epidemic could weaken growth in the current quarter and thrust Japan into recession. Japan GDP fell 6.3% in the final […]

Asian shares inch up to three-week highs on China’s support measures

SYDNEY- Asian shares recuperated from previous underperformance and managed to go back on track for three-week high as investor sentiment increased on Chinese efforts to minimize the impact of coronavirus contagion. However, Japanese stocks sunk down on risks brought by recession. Trading activity will ease as U.S. stocks and bond markets will temporarily stop operating […]

Yen gains on nCoV concerns, frail economic outlook drags euro

TOKYO-The Japanese yen rose against the dollar on Friday as resurfacing concerns about the impact of the novel coronavirus aided safe-haven currencies’ performance. The yen held tight at 109.81 per dollar in Asian trading board on Friday, continuing its 0.25% gain from previous session. The euro continued to trade negatively hitting its multi-year of low […]

Foxconn: recent Reuters report on factory resumption in China, not factual

Taiwan’s Foxconn said on Thursday that the recent Reuters reports about the company resuming operations in production plants were not factual. The contract electronics manufacturer, currently supplying tech giant Apple Inc, made the comment in a statement to the Taipei stock exchange. However, Foxconn, formally called Hon Hai Precision Industry Co Ltd, did not elaborate […]

Facebook defers launch of dating service in Europe as Irish officials hold search operation in offices

Facebook postponed the launching of its dating service in Europe which was scheduled for the eve of Valentine’s Day after Irish data regulator official searched its offices. According to the regulating body, the conducted inspection in offices of the social media company in Dublin was mandated after learning Facebook’s plan of launching the dating service […]

China can fortify stimulus if growth slows further amid virus spread, IMF says

China will strengthen stimulus if economic slowdown continues amid virus spread, Changyong Rhee, senior official at International Monetary Fund said. But China should not disregard structural reforms to cater rapid credit growth, he added. Rhee, director of the IMF’s Asia and Pacific Department, said that China’s economic growth was slowing down before the epidemic due […]

SoftBank shares surge up to 14% after U.S. judge approves merger between T-Mobile and Sprint

SoftBank shares surge up to 14% after U.S. judge approves merger between T-Mobile and Sprint Shares of SoftBank Group Corp. in Japan shot up by 14% on Wednesday after a U.S. judge green-lit a $26 billion merger between T-Mobile and Sprint—a deal SoftBank sought for nearly a decade. “All necessary federal approvals required for the […]

Oil inches up as NcoV cases decelerate, boosts market sentiment

SEOUL- Oil prices advanced continuing its Tuesday’s well-ended performance on Wednesday. Such upbeat activity was mainly from signals that coronavirus cases are decelerating in China, relieving investors from demand concerns brought by the virus which originated from world’s second-largest oil importer. Brent crude LCOc1 increased by 73 cents, equivalent to 1.3%, standing at $54.75 a […]

Safe-haven assets rise amid coronavirus concerns

Safe-haven assets rise amid coronavirus concerns Gold prices rose while the USD/EUR currency pair reached a four month high on Monday as investors retreated to safe-haven assets amid China’s rising death toll from the coronavirus outbreak. Weak economic data in the Eurozone made the Greenback relatively more attractive to traders than the single currency. This […]

Uber expects gains at latter part of 2020 but braces for year of decline

Uber Technologies Inc (UBER. N) adjusted its target with an aim of achieving its profitability by the end of the year, but the ride hailing firm anticipates a major decline estimating up to $1 billion or more this 2020. Uber shares advanced greatly up to 5% in after-hours session. Such activity followed after Chief Executive […]

EA’s tepid 4Q forecast adjusts below analysts’ expectations

EA’s tepid 4Q forecast adjusts below analysts’ expectations Electronic Arts Inc. adjusted its forecast for fourth-quarter revenue below analysts’ estimates after being pressured by the delayed launch of its anticipated title “NBA Live”. EA delayed the release of “NBA Live” last quarter in order to coincide with the launch of new gaming consoles from Microsoft […]

Asian shares recover after suffering for a week

Asian shares regained momentum on Friday as investor sentiment was uplifted by optimism that China would contain the novel Coronavirus, even reports continued to file more cases and death rates. China’s manufacturing activity which surpassed analysts’ expectations heavily contributed to upbeat market sentiment while services strongly stabilized. In line with this, Amazon reached far beyond […]

Australia inflation climbs but remains below target

Australian inflation rose at the end of 2019 but remains below target despite three interest rate cuts, prompting central bank to think of new measures to revive consumer prices. The consumer price index climbed 0.7% in the fourth quarter, which was slightly higher than the 0.6% increase forecast, attributed to higher fuel prices, cigarettes, travel, […]

Asian stocks hold steady despite investor fears over China virus

Asian stocks hold steady despite investor fears over China virus Asian shares held steady on Friday as trade slugged toward the Lunar New Year despite growing concerns over the new virus in China. Investors had feared that the coronavirus could spread further as millions travel for the week-long holiday. MSCI’s broadest index of Asia-Pacific shares […]

Japan economic outlook gloomy, central bank policymakers say

Global economic uncertainties and a sales tax hike in 2019 may have hit hard on capital spending and inflation expectations, warned Bank of Japan policymakers as reflected on the central bank’s minutes of the meeting in December. One member proposed to impose a stimulant based on the effect tax hike caused on private consumption. The […]

Tesla reaches $100 billion stock market valuation

Tesla Inc became the first publicly listed US carmaker to reach $100 billion worth in stock market valuation in extended hours trading on Tuesday. This came a month after the electric car maker’s stock reached $420, on which CEO Elon Musk said he would take Tesla private. In a tweet in August 2018, Musk said […]

Oil prices retreat as concerns on supply diminish

SINGAPORE- Oil prices inched down on Tuesday as investors paid little attention to previous supply concerns following Libya’s declaration of a force majeure on two oilfields.                 Brent LCOc1 was down 30 cents, equivalent to 0.5% at $64.90 per barrel by 0318 GMT.  The crude eased down after soaring to its highest in more than […]

IEA warns oil and gas companies about lax emission policies

IEA warns oil and gas companies about lax emission policies The International Energy Agency (IEA) on Monday cautioned oil and gas companies that failing to increase investments in low carbon energies may result in them facing backlash that could threaten long-term profits and public support. Around 15% of global energy-related emissions have come from the […]

China to secure industrial growth in 2020

BEIJING- China assured to stabilize the industrial growth and aid its progress for 2020 despite pressing concerns encountered by the sector, Minister of Industry and Information Technology Miao Wei said on Monday. China’s industrial production surpassed expectations last December by jumping up to 6.9% from a year earlier. Such was the most rapid pacing it […]

Dollar soars on high market sentiment over US economic forecast

SINGAPORE- US Greenback started a strong weekly session on Monday brought heavily by positive US economic data, minimizing the possibility of interest rate cuts. The US dollar remained firm enough to reach its one week high against the euro EUR= at $1.1096. Its previous session placed it neutral from its eight-month high against Japanese yen, […]

China GDP grows 6% in fourth-quarter, in line with analyst estimates

China released its fourth quarter GDP for 2019, showing an economic growth of 6% compared to last year. Official data showed that the Chinese economy maintained last quarter’s pace as expected by analysts. GDP was estimated to grow by 6% in the October-December quarter, stalling at the shortest pace in twenty-nine years. As China faced […]

Gold prices rise amid brewing skepticism over U.S.-China’s Phase 1 trade deal

Gold prices rise amid brewing skepticism over U.S.-China’s Phase 1 trade deal Gold prices rose on Friday amid skepticism about the trade deal between the U.S. and China. Beijing and Washington had signed a Phase 1 deal on Wednesday, though some doubted whether the two major economies could develop it relations consistently. Gold Futures for […]

Oil prices fall as stockpiles drop past analyst expectations

Oil prices fall as stockpiles drop past analyst expectations Oil prices fell on Friday morning as stockpiles took a sharper decline than analysts expected. This was confirmed by a report by the U.S. Energy Information Administration (EIA). The EIA said that crude inventories had declined by 2.5 million barrels compared to the expected drop of […]

US agency to fund $1 billion into Guatemala’s private sector

The United States will fund Guatemala’s private sector with $1 billion to stimulate investment and create jobs, said US government agency head. It was announced after Alejandro Giammattei, the new president of Central American country, met with US officials to discuss spurring economic growth through investment and to contain migration in the US. “It’s a […]

China’s financial firms can subsist against foreign rivals: central bank

BEIJING- Chinese financial institutions are very much stable, enough to compete against foreign competition as the $40 trillion worth of financial sector was discharged, the central bank said on Thursday. Such followed after China and the United States settled the initial pact of the trade deal. Central bank will heighten its regulation and supervision to […]

Dollar sturdies ahead signing of U.S.-China trade deal

Dollar sturdies ahead signing of U.S.-China trade deal The U.S. Dollar remained strong on Friday and was set to close on a high note a few days ahead of the signing of a ‘phase one’ trade deal between the United States and China. The US Dollar Index Futures was flat at 97.45 by 9:30 PM […]

Oil sheds 1% from investors’ Middle East sentiments

NEW YORK- Oil prices declined an estimated 1% gain on Tuesday, losing some recent earnings as the possibility of immediate supply disturbance after US military forces killed top Iranian commander dampened investors’ sentiments. Brent crude LCOc1 sunk down 64 cents, equivalent to 0.93% or $68.27 per barrel. US West Texas Intermediate (WTI) crude CLc1 declined […]

EUR/USD under 1.12 amidst EZ inflation; Suleimani’s death causes tension

Of late, the pair EUR/USD trades below 1.12. This is amid inflation within the Eurozone that had met expectations with 1.3% in headline and core CPI. Tensions in the Mid-East have been found to not have strong effect on markets. The US ISM Non-Manufacturing PMI is currently being eyed. As the Euro and the Dollar […]

Turkish electric car project seen at an investment of $3.7 billion

Turkish electric car project seen at an investment of $3.7 billion Turkey’s new domestic electric car project will have a fixed investment of 22 billion Lira ($3.7 billion) over a period of 13 years, with an annual production capacity of 175,000 vehicles according to the Official Gazette on Friday. The Official Gazette reported on a […]

China turns to financial experts to manage and rebuild economy

China turns to financial experts to manage and rebuild economy China’s government has embarked on a new strategy of placing financial experts in provinces to manage risks and rebuild regional economies as the country struggles to deal with its slowdown. Since 2018, President Xi Jinping has placed 12 former executives either in state-run financial institutions […]

U.S. holiday online sales set record, 3.4% bigger than last year’s record

The U.S. online retail sales amassed record-breaking figures, outperforming last year’s output as Mastercard Inc. reported on Wednesday. E-commerce sales this year comprised 14.6% of total retail figures and went up 18.8% from the same period in 2018. Mastercard data showed retail sales from Nov. 1 to December 24. The overall holiday retail sales surged […]

Gold prices rise with demand ahead of Christmas and New Year

Gold prices rise with demand ahead of Christmas and New Year Gold prices rose Monday morning in Asia as investors opted for the saf-haven asset ahead of Christmas and New Year holidays. U.S. Gold Futures inched up 0.25% to $1,484.55 by 10:59 PM ET (3:59 AM GMT),  recovering after the dollar steadied the day before. […]

Oil prices head to three-month peak after US crude inventories drop

SINGAPORE-Oil prices edged closer to achieving its third consecutive months of positively ended performance on Thursday, maintaining its momentum which started a week ago. Such followed after records disclosed that US crude inventories plummeted down while output reduction by major producers held supply steady. Brent crude futures swiped out 1 cent to $66.16 per barrel […]

Bank of England to stay on hold as it weighs Brexit outlook

The Bank of England is looking to pause from making rates decisions as it weighs up Brexit’s outlook on Thursday. Flashes of hopes rose after the recently concluded election favoring a graceful Brexit but Prime Minister Boris Johnson seems to dim the bright outlook as he revives fears of a disorderly exit from the European […]

Fiat Chrysler to merge with Peugeot owner PSA agree in $50 billion deal

Fiat Chrysler and Peugeot owner PSA have agreed on a binding merger in a deal worth $50 billion to pave the way for the world’s fourth largest car maker. The two companies announced the merger that will reshape the global industry six weeks ago, as car manufacturers worldwide struggle with a decrease in demand. Car […]

EU must avoid cliff-edge in talks with Britain, says senior EU official

The EU will have to limit discussions about its future relationship with Britain to avoid heading into another cliff-edge, a senior EU official said. This statement came after Britain affirmed its exit from the European Union before 2020 ends. After UK Prime Minister Boris Johnson’s big election win, he planned to work on declaring the […]

WeWork arranges $1.75 billion credit line with Goldman Sachs

WeWork arranges $1.75 billion credit line with Goldman Sachs The shared workplace company WeWork said on Tuesday that it has arranged a $1.75 billion letter of credit with Goldman Sachs that is in the process of being syndicated and whose funds will be available in January next year. The move comes in part of SoftBank […]

Japan’s exports slips amid declining U.S., China demand

Japan’s exports slips amid declining U.S., China demand Japan’s export shrank for its 12th month as shipments to the United States and China declined, severely impacting the country’s trade-reliant economy and raising the risk of a fourth-quarter contraction. Wednesday’s official data showed Japanese exports falling 7.9% year-on-year in November, which was a small decline compared […]

The Sacklers transfer Purdue Pharma’s $10 billion to its other companies

The Sacklers transfer Purdue Pharma’s $10 billion to its other companies The owners of Purdue Pharma, the Sackler family, transferred more than $10 billion in a decade from the OxyContin maker to its trust and holding companies, according to a New York Times report on Monday, citing the drugmaker’s newly-commissioned audit. The audit is likely […]

UK’s The Hut Group acquires €1 billion to fund expansion

UK’s The Hut Group acquires €1 billion to fund expansion British online retailer, The Hut Group (THG) said it had raised €1 billion ($1.10 billion) to help fund expansion amid macro-economic and political changes from Brexit and the general election. The new capital of a €600 million term loan, a five-year £150 million ($192.45 million) […]

Factory Activity of Japan drops eight consecutive months in December

Lower demand and extended output decline dragged Japan’s factory activity shrink to eight consecutive months in December. Fourth-quarter economic contraction looms around Japan’s economic zone. From a 48.9 marker in November, the Jibun Bank Flash Japan Manufacturing Purchasing Managers’ Index (PMI) dipped to 48.8 (seasonally adjusted). This marks another below the 50.0 threshold level performance, […]

Oil prices hike as OPEC changes 2020 forecast

TOKYO-Oil clocked in gains on Thursday with market sentiment relieving from anxiety as OPEC changes its 2020 forecast mainly from records disclosing increase in US crude inventories.                 Brent futures LCOc1 climbed 24 cents, equivalent to 0.4% to $63.96 per barrel at exactly 0242 GMT. Such activity followed after 1% loss on Wednesday brought by […]

Australia’s Central Bank sees China slowing down to 3% by 2030

Australia’s Central Bank sees China slowing down to 3% by 2030 The Reserve Bank of Australia (RBA) reasoned how China’s economic growth could slow down to around 3% by 2030 as a result of low birth rates, corporate debt, and low productivity. “China’s period of ‘above-normal’ growth is drawing to a close,” the RBA’s Ivan […]

JPMorgan warns emerging market debt trading to increase in 2020

More developing countries will be hit by debt woes next year, cutting returns for the JPMorgan index of dollar sovereign bonds, according to the bank’s head of emerging markets research. Countries affected by debt crises in 2019 include Lebanon, Argentina, and Venezuela. However, their relatively small part in global bond indexes has meant little contagion […]

Tories likely to win despite hung parliament chances; U.S.-China conflict anew

According to top 10 analysts, Tories are likely to win the elections. While this is the case, a hung Parliament might still be in the cards due to Conservatives not favored in some parts of the Westminster. Worth noting here are rising allegations related to UK Prime Minister (PM) Boris Johnson that came with his […]

China to remove duties from U.S. pork and soybeans

China to remove duties from U.S. pork and soybeans China will remove duties from some U.S. exports like pork and soybeans, according to China’s finance ministry on Friday after it cited decisions made by the country’s cabinet. The tariff waivers were based on applications by individual firms for U.S. soybeans and pork imports, the ministry […]

Philippines claims to have alleviated poverty from 6 million Filipinos

The Philippine Statistics Authority (PSA) said around six million Filipinos rose from poverty as the government continues to beef up spending on social welfare. The statistics agency of the Philippines reported around 17.6 million Filipinos (or 16.6% of the country’s population) were poor in 2018. The figures were compared to that of the 2015 record […]

Huawei sues FCC in a fight for access to U.S. market

Huawei sues FCC in a fight for access to U.S. markets Huawei Technologies Co. has sued the Federal Communications Commission in a fight to overturn a regulatory decision that would pry Chinese corporations away from its last major American clients. China’s largest technology company said that it had filed the lawsuit with the Fifth Circuit […]

‘Destructive forces’ are trying to sabotage US-China ties, Beijing envoy warns

Chinese envoy to the United States said that the two parties were resolving issues on the phase one of the trade deal, but warned of other parties trying to meddle in the talks and come in between of the two countries without providing further details. Envoy to the United States Ambassador Cui Tiankai said that […]

Large investor pays $31 million for options hedge against US stock market drop

The drop in US stocks on Monday urged one investor to fill up on stock options that would serve as a defense against a possible stronger hit on the US stocks next year. In early market on Monday, a large investor purchased 16,000 of January put options for the worth of $31 million dollars. The […]

China seeks NEV sales to hit 25% of all car sales in 2025

BEIJING/SHANGHAI- China has high hopes that New Energy Vehicle (NEV) sales will scope up a quarter of all car sales in 2025 from a mark of “above 20%’ stated in a 2017 prospectus, the industry ministry said on Tuesday. Chinese market for new energy vehicle, that which offers plug-in hybrids, battery-only electric vehicles, and hydrogen […]

Reserve Bank of Australia keeps rates steady, waits for past cuts to take effect

The Reserve Bank of Australia (RBA) had its interest rates untouched on Tuesday and said it was waiting for the past three implemented rate cuts to take effect in the sluggish economy. However, markets see the need for more rate cuts to drive more economic activities. The central bank of Australia just concluded its last […]


TOKYO-Japan’s Nikkei average sunk down on Tuesday as emerging trade worries surfaced after US President imposed tariffs on Brazil and Argentina, while unstable manufacturing records contributed to inactivity. The Nikkei share average plummeted down with 1.46% loss to 23, 186.84 as it marginally reduced decline to 23,278.67 by 0152 GMT, recording 1.07%. The index recuperated […]


SHANGHAI-Hong Kong’s benchmark index plunged down with 2% loss on Friday brought heavily by recent trade dispute headline about US legislation supporting Hong Kong protesters.                 Hang Seng index shed 2% at 26,363.78 points as Hong Kong Enterprises Index inched down with 2.4% loss to 10,309.46. Such inactivity was brought by tensions between the United […]

China Agri-Industries to go private for up to $1.2 billion

China Agri-Industries to go private for up to $1.2 billion China Agri-Industries Holdings Ltd’s parent company will be taken private in a deal worth around HK$9.17 billion according to a filing that was published on Thursday. According to the trading arm of the Chinese state-owned food group COFCO, the cancellation price was HK$4.25 which was […]

Bitcoin slows down, posts six-month low

Bitcoin’s price on Monday dropped in the middle of its rally to recovery. It posted $6,558 at 1:00 a.m. EST, its lowest rate in six months. The biggest cryptocurrency, however, showed resiliency as it reached $7,100 hours after hitting a six-month low on Monday. Bitcoin last peaked on July 9 and since then, its prices […]

Japanese stocks maintain momentum on trade optimism; fiscal stimulus

TOKYO-Japanese stocks extended its positive performance reaching its fourth consecutive high on Wednesday as optimism increased for the possibility of United States and China settling the ‘phase one’ of the trade pact. At exactly 0148 GMT, Nikkei index soared up with 0.38% gains at 23,462.22 with automakers and retailers leading the top gainer board in […]

U.S. securities regulator proposes new rules on use of derivatives in exchange traded funds

U.S. securities regulator proposes new rules on use of derivatives in exchange traded funds The U.S. securities regulator on Monday proposed new regulations for the use of derivatives by investment funds. This aimed to introduce some safeguards for more risky products and increase competition. The proposal from the Securities and Exchange Commission (SEC), which is […]

Taiwan plans to buy more US goods, acts to bust currency manipulator claims

The central bank of Taiwan and the Ministry of Economic Affairs have prepared specific actions to bid for bigger U.S. goods purchases to reduce its trade surplus. More so, Taiwan seeks to disprove U.S.’ claims being a currency manipulator. Taiwan was called out by the U.S. as a currency manipulator back in December 1992. This […]