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HONG KONG, China (AFP) — Asian and European markets were mixed Wednesday as investors assess the impact of the fast-spreading Delta variant and the future of Federal Reserve financial support against expectations that the global economy will eventually recover from the pandemic crisis. News that US President Joe Biden’s $1.2 trillion infrastructure spending bill had finally passed the Senate provided some cheer, though analysts said it would likely be some time before it gets through […]
HONG KONG, China (AFP) — Asian markets were mixed Tuesday and oil extended losses as the impact of the fast-spreading Delta coronavirus variant on the global recovery fuelled concerns the outlook might not be as rosy as initially hoped. While corporate earnings continue to impress, trader optimism has taken a knock after a series of below-forecast readings from the world’s biggest economies including crucial growth drivers the United States and China. At the same time, […]
by Benoît PELEGRIN LONDON, United Kingdom (AFP) — The OPEC+ group of oil-producing countries are to meet Thursday and are expected to agree to boost output in August to meet demand and limit recent price rises. The cost of crude oil has surged back to levels last seen in October 2018, which would normally support arguments in favour of boosting production. India, the world’s third-largest consumer of crude, has urged OPEC+ to phase out its […]
LONDON, United Kingdom (AFP) — The price of bitcoin fell sharply on Tuesday, approaching a symbolic $30,000 threshold it has not crossed since January and dragging other cryptocurrencies in its wake. At around 15:45 GMT, bitcoin fell 8.6 percent to a value of $31,501, a level not seen since mid-May, when the volatile cryptocurrency temporarily lost 30 percent in one session. The second-largest cryptocurrency, ethereum, lost 11.2 percent of its value, falling to $2,361. “Numbers […]
HONG KONG, China (AFP) — Markets fluctuated in Asia on Tuesday as investors awaited the release of key US inflation data later in the week, with another strong reading likely adding pressure on the Federal Reserve to begin reconsidering its ultra-loose monetary policy. Equities around the world are sitting close to record or multi-year highs after a stellar rally lasting more than a year, fuelled by central bank largesse, vast government stimulus worth trillions of […]
HONG KONG, China (AFP) — Most Asian markets rose Thursday, with focus on the upcoming release of key US jobs data, while traders were also trying to gauge when the Federal Reserve will begin reconsidering its ultra-loose monetary policies in light of a robust economic recovery. Oil prices also extended gains, fuelled by growing optimism that the reopenings and coronavirus vaccine rollouts will lead to a surge in activity over the coming months and ramp […]
HONG KONG, China (AFP) — Asian investors on Monday struggled to build on last week’s gains as profit-takers stepped in while awaiting the next buying catalyst, with eyes on the upcoming release of key US jobs data. Still, despite worries that the expected surge in economic activity this year will send prices soaring and force central banks to tighten monetary policy, a forecast-beating jump in a closely watched US inflation gauge was taken in stride. […]
HONG KONG, China (AFP) — Asian markets rose again Friday, putting them on course to end an upbeat week on a healthy note, with traders welcoming another forecast-beating reading on US jobless claims that reinforced optimism about the recovery in the world’s top economy. There was also some cheer from reports that Joe Biden is planning a $6 trillion budget proposal for later in the day that includes his vast infrastructure deal and spending on […]
HONG KONG, China (AFP) — Asian markets were mixed Monday as optimism about the global recovery was offset by concerns about a spike in new infections in several countries that have officials battling to avert new lockdowns. Wall Street provided another strong lead after data showed US retail sales were flat last month, which helped ease traders’ fears that a surge in inflation could force the Federal Reserve to wind back its ultra-loose monetary policies […]
HONG KONG, China (AFP) — Fears about surging inflation continued to trouble Asian markets Wednesday, with investors nervously awaiting crucial US price data later in the day that could ramp up expectations the Federal Reserve will have to taper its monetary policy earlier than flagged. Global equities have had a torrid start to the week as traders bet that stimulus measures, the rollout of vaccines and the reopening of businesses will fan a blockbuster recovery […]
HONG KONG, China (AFP) — Equity markets tumbled in Asian trade Tuesday following steep losses on Wall Street as investors grow increasingly worried about a surge in inflation that could force central banks to wind back their ultra-loose monetary policies earlier than forecast. All eyes are on the release this week of crucial data on US retail sales and consumer prices, with expectations for a sharp rise as the world’s top economy reopens and vaccines […]
HONG KONG, China (AFP) — Asian markets rallied Friday following a record-breaking finish on Wall Street as traders keenly await a key US jobs report that is expected to reaffirm the recovery in the world’s top economy is blasting ahead. And in a further sign that the global reflation trade is on track, iron ore prices hit an all-time high, while copper — a yardstick of economic health — is just short of its own […]
