Breaking News

Asian shares dip on geopolitical worries, Oil keeps momentum.

News Date: 25/11/2015 01:13:06
 

Asian stocks floundered on Wednesday as investors get jittery about terrorist threats in Europe and geopolitical tensions in the Middle East; after Turkey shot down a Russian warplane yesterday, risking escalation between the former cold war foes. Japan's Nikkei lost 0.32%, while Australia's S&P\ASX 200 index shed 0.63%. Korea's KOSPI gave up 0.29%, while India's Nifty slid 0.22%. China's CSI300 index for the biggest listed companies in Shanghai and Shenzhen shrugged the tensions however, gaining 0.40%.

 

Wall Street ended Tuesday slightly up, with Dow Jones rising 20 points, or 0.11% to 17,812. NASDAQ was flat at 5,102, while S&P 500 advanced 2.5 points, or 0.12% to 2,089.

 

Oil prices jumped about 3.0% yesterday as tensions in the Middle East raised questions about supply stability. U.S. crude futures are up 35 cents today, or 0.87% to $43.02 a barrel, near a two-week high touched overnight. Brent futures for January gained 25 cents, or 0.53% to $46.34 a barrel.

 

Dollar eased back as investors flock to safe haven currencies like the yen and Swiss franc, with its index down 0.13% to 99.56. Dollar fell for the second session against Euro to 1.0657 with a 0.13% loss. It skidded 0.12% against sterling to 1.5100 with a similar 0.12% loss.

 

Yen kept on its winning streak against the dollar, rising 0.10% to 122.40. Yen touched its highest against Euro since April yesterday at 130.19, before steadying today to 130.41. It jumped to a three-week high against sterling yesterday before steadying to 184.82.

 

Gold futures advanced on the back of the flickering dollar, gaining 4 dollars, or 0.37% to $1,078 an ounce. Silver futures rose 5 cents, or 0.39% to $14.20 an ounce.

 

A basket of data is awaited from the U.S. today, most notably, unemployment claims for last week, expected at 273K, a touch higher than the previous week's 271K. The lower the claims are the more indicative it is of less jobs layoffs, which heaps upward pressure on the dollar.

 

Also from the U.S., crude oil inventories for last week are expected to rise 1.2M, higher than the previous week's 0.3M addition. The more inventories there are, the more downward pressure is put on oil prices.           

 

Latest news

Wall Street closed lower on Tuesday, in light of investors’ concern about the Federal Reserve raising interest rates and amid increasing talk of an expected recession. Stocks pulled their indic
12-2022 07 02:24:50

The US stock markets ended Monday’s trading on a decline, pulling the stock indices downwards, and recording losses in each of the following sectors : the oil and natural gas sectors, the finan
12-2022 06 02:51:29

The dollar fell broadly on Monday after a difficult week, after more Chinese cities, including financial hub Shanghai and Urumqi in the far west, announced easing restrictions related to Covid-19, wh
12-2022 05 03:14:06

After the speeches delivered by Federal Reserve Chairman Jerome Powell, announcing that the interest rate will rise by 50 points instead of 70 points, gold prices rose by more than 2% to reach levels
12-2022 02 03:06:59

US Federal Reserve Chairman Jerome Powell announced the decision to slow the rate of interest rate hikes, starting in December, and stated that inflation is still very high, and that interest rates w
12-2022 01 02:57:28

More News

Logs

Advertisements