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HONG KONG, July 22, 2024 (AFP) – Asian markets fell Monday as Joe Biden’s decision to drop out of the US presidential race fuelled fresh uncertainty, while traders appeared to be unmoved by China’s decision to cut interest rates in a bid to boost the country’s stuttering economy. After last weekend’s assassination attempt on Donald Trump — and the following Republican convention — boosted bets he would win November’s election, investors were trying to work […]
HONG KONG, June 26, 2024 (AFP) – Asian markets swung Wednesday following a tech-led bounce on Wall Street as investors prepare for the release of crucial US inflation data, while the yen fell back towards levels that have stirred intervention warnings from Japanese officials. The euro also remained under pressure ahead of weekend elections in France that polls suggest will see big wins for the far-right and leftwing parties pushing President Emmanuel Macron’s centrists into […]
HONG KONG, April 16, 2024 (AFP) – Asian stocks fell and oil prices climbed Tuesday on growing fears of a wider war in the Middle East after Israel’s army chief vowed a response to Iran’s unprecedented attack on his country at the weekend. The selling came after Wall Street’s three main indexes tanked in response to forecast-beating US retail sales data that reinforced the view that the world’s top economy remained in rude health and […]
LONDON, Feb 22, 2024 (AFP) – Global stock markets rallied Thursday, with Tokyo breaking a record high that had stood since 1989, as investors cheered bumper profits from US chip giant Nvidia, seen as the bellwether for artificial intelligence. Highly anticipated results from Nvidia after the Wall Street close Wednesday saw the company post quarterly profit of $12.3 billion on record revenue, driven by demand for its AI-powering chips. Japan’s Nikkei 225 jumped 2.2 percent […]
LONDON, Jan 12, 2024 (AFP) – Oil prices surged four percent on Friday after US and UK forces launched strikes against Iran-backed Huthi rebels following their attacks on ships in the Red Sea, fuelling worries about a wider conflict in the crude-rich region. Tokyo and European stock markets ended the week with strong gains as traders brushed off data showing US inflation rose more than expected in December. Wall Street had ended flat on Thursday, […]
TOKYO, Jan 4, 2024 (AFP) – Tokyo stocks opened sharply lower Thursday, the first trading day of 2024, playing catch-up with falls of US shares. The benchmark Nikkei 225 index dropped 1.93 percent, or 646.30 points, to 33,817.87 in early trade, while the broader Topix index fell 1.24 percent, or 29.25 points, to 2,337.14. After closing 2023 on Friday, the Tokyo market reopened after its New Year break, during which the US market marked two […]
HONG KONG, Dec 20, 2023 (AFP) – Asian stocks rallied Wednesday, following another record performance on Wall Street as traders continue to bet on the US Federal Reserve slashing interest rates several times next year. The advances come even as central bank officials try to push back against expectations, which have set markets up for a healthy end-of-year rally. The next key event this week will be the release of the US personal consumption expenditures […]
NEW YORK, Dec 7, 2023 (AFP) – US oil prices finished below $70 a barrel for the first time since July on Wednesday on a mixed day for global equities, as traders pondered hopes for interest rate cuts from the European Central Bank and the US Federal Reserve. West Texas Intermediate oil for delivery in January fell 4.1 percent to finish at $69.38 a barrel. The drop came as markets eyed signs of weakening demand […]
LONDON, Oct 24, 2023 (AFP) – World stock markets saw choppy trading Tuesday though Wall Street moved ahead in anticipation of a flood of strong corporate earnings, even as economic and geopolitical fears still dog sentiment ahead of this week’s eurozone interest rate decision. Volatile US Treasury yields had affected stock trading Monday in the US, where some indexes rebounded after a sluggish start but the S&P 500 fell to its lowest close since May. […]
HONG KONG, Oct 20, 2023 (AFP) – Asian markets fell and oil prices extended gains Friday on worries that an expected ground invasion of Gaza by Israel will spark a wider conflict in the Middle East. Risk aversion was compounded by Federal Reserve boss Jerome Powell, who indicated a pause in interest rates at the bank’s next meeting but left open the prospect of another hike later. Traders are keeping a fearful eye on developments […]
LONDON, Oct 3, 2023 (AFP) – The dollar rose above 150 yen on Tuesday for the first time in a year, as the Japanese currency weakened further on a mix of ultra-loose monetary policy in Japan coupled with rising US interest rates that are attracting investors to the greenback. In mid-afternoon trading, the dollar/yen rate hit 150.16, a level not seen since October 2022, before falling back. Analysts say the yen’s decline could prompt the […]
By Daniel AVIS WASHINGTON, Oct 3, 2023 (AFP) – Growing geopolitical fragmentation since the invasion of Ukraine has hit commodity markets, threatening to slow the transition to renewable energy as the world looks to combat climate change, the International Monetary Fund said Tuesday. The fractures have led to a doubling in new trade restrictions on commodities since 2021, with low-income countries bearing the brunt of the costs, the IMF announced Tuesday. “To achieve net-zero-carbon emission […]
