US Oil Production Hits Record High Amid Rising Geopolitical Tensions

“It’s an environment that’s ripe for profit-taking,” said Nomura Securities strategist Maki Sawada, noting the Nikkei’s 4.8% rally of the past three days and the looming weekend. The analysts expect the South Asian country to give «one of the highest returns among key markets throughout the world for the next several years.» Morgan Stanley analysts downgraded to equal-weight from overweight, while Jeffries slashed its price target for’s Nasdaq listing from $97 to $80 per share.

The prior record was 13.1 million barrels a day hit in February 2020, right before the COVID-19 pandemic slowed down the economy. The Hang Seng Index rose by 1.3% driven by significant contributions from Sunny Optical Technology, Xinyi Solar Holdings, and Semiconductor Mfg Intl which saw share increases of 12.2%, 7.2%, and 6.7% respectively. On the other hand, China Hongqiao Group, Orient Overseas Intl, and Chow Tai Fook Jewellery experienced decreases of 2.8%, 1.8%, and 1.2% respectively. Online services companies Rakuten Group and Recruit Holdings fell 4.32% and 3.5%, respectively. But according to Deepwater Asset Management, there’s one under-the-radar AI stock that will be essential for the long-term infrastructure rollout of artificial intelligence. AllianceBernstein revealed some of its favorite stocks in the country, including two new names on its radar.

  • It also reduces the risk of 1970s-style stagflation, which was in part driven by oil supply shocks.
  • Hong Kong stocks extended gains on Tuesday, with the Hang Seng index up as much as 2% and among top gainers in Asian markets.
  • Logistics company Orient Overseas was a rare decliner on the day, down 3.9%.
  • India’s inflation data rose 5.02% year-on-year for September, easing to a three-month low on the back of lower vegetable prices.

Currently, the Japan 225 is the most widely quoted average of Japanese equities. Regional banks will be in focus in the week ahead as traders head into the thick of third-quarter earnings season. South Korea’s central bank will also announce its rate decision on Thursday. The Bank of Korea has held rates steady for five meetings in a row at 3.5% since February. Markets are pricing in an 86% likelihood on Monday that the Federal Reserve will hold rates steady at next month’s policy meeting.

FOMC voting members Lorie Logan and Philip Jefferson favored leaving interest rates unchanged. The probability of the Fed ending its rate hike cycle increased, supporting the appetite for riskier assets. Rightmove has reported that asking prices are rising by the weakest amount for this time of year since the 2008 financial crisis. The Japan 225, more commonly called the Nikkei 225 Stock Average, is a stock market index for the Tokyo Stock Exchange. It is a price-weighted index, operating in the Japanese Yen and its components are reviewed once a year.

However, the broader mining sector had a mixed session, while the big four banks enjoyed solid gains. There are a few potential “pressure points” which the markets are sensitive to, reports Kyle Rodda, senior financial market analyst at There are fresh signs today that the UK’s housing market is cooling, under the weight of high interest rates. Over the weekend Joachim Nagel, the head of Germany’s Bundesbank, warned that the European Central Bank can’t declare that its fight against inflation is over just yet. European finance ministers will discuss the economic outlook when they meet for a Eurogroup meeting today. Many energy experts see the risk of a supply event here as fairly low, but should developments escalate on various fronts, then the market will increase the possibility of a disruption.

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India’s inflation data rose 5.02% year-on-year for September, easing to a three-month low on the back of lower vegetable prices. Unlike most indexes, constituent stocks are ranked by share price rather than market capitalization. overview of fxcm broker Every September, the Nikkei’s composition is reviewed, and any necessary changes are implemented in October. European stock markets have opened a little higher, with the pan-European Stoxx 600 index rising 0.3% at the open.

Tepid prices underscore what China’s top leaders labeled as a «tortuous» economic recovery after the country emerged from its draconian zero Covid curbs toward the end of last year. Other stocks dragging down the index include China Merchants Bank which fell 1.27%, while Ping An Insurance  lost 1.67%. Leading the index’s losses is e-commerce giant, which slumped as much as 12% to its lowest in a year.

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Risk-off sentiment weighed on the S&P/ASX All Technology Index (XTX), which slid by 1.50%. However, bank stocks may find support from better-than-forecasted US bank earnings. Citigroup (C), JPMorgan Chase (JPM), and Wells Fargo (WFC) beat estimates. With earnings season underway, Rio Tinto Ltd (ASX 200) and Harvey Norman Holdings (ASX 200) release earnings on Monday.

The Nasdaq Composite Index rose by 0.58%, with the Dow and S&P 500 ending the day up 0.40% and 0.52%, respectively. The US equity markets responded to the shift in sentiment toward the Fed. On Thursday, the Nasdaq Composite Index and the S&P 500 declined by 0.63% and 0.62%, with the Dow falling by 0.51%. Marks & Spencer reported strong growth in both its Food and Clothing & Home businesses for the first 19 weeks of the financial year. Food sales increased by over 11%, driven by price changes, while Clothing & Home sales grew by more than 6%, primarily due to in-store growth. Despite economic uncertainties, the company expects significant improvements in full-year profit growth and half-year results compared to previous expectations of modest revenue growth.

The Nikkei Stock Average, the Nikkei 225 is used around the globe as the premier index of Japanese stocks. More than 70 years have passed since the commencement of its calculation, which represents the history of Japanese economy after the World War II. The Nikkei 225 is a price-weighted equity index, which consists of 225 stocks in the Prime Market of the Tokyo Stock Exchange. Interactive daily chart of Japan’s Nikkei 225 stock market index back to 1949. Each data point represents the closing value for that trading day and is denominated in japanese yen (JPY).

Leading gains on the index were real estate and technology stocks, with Chinese shopping platform operator Meituan and sportswear company Li Ning, up 4.78% and 4.42%, respectively. Hong Kong stocks extended gains on Tuesday, with the Hang Seng index up as much as 2% and among top gainers in Asian markets. If you seek broad exposure to the Japanese stock market through investments whose underlying assets track the Nikkei 225, ETFs may be the way to go. In particular, the U.S.-listed, dollar-denominated MAXIS Nikkei 225 Index ETF offers immense value and diversification potential. Unlike mutual funds, which are priced at the end of the day, ETFs trade throughout the day, consequently their prices fluctuate like stocks.

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BHP Group Ltd (BHP) and Fortescue Metals Group (FMG rose by 0.38% and 0.66%, with Newcrest Mining (NCM) gaining 0.78%. In this series, we’ll be equipping you with the skills to trade some of the most indicative price patterns which occur on any timeframe in every market. The pullback is undeniably one of the most valuable trading patterns as it offers an opportunity to join established trends at favourable levels of risk / reward. However, in real-world trading scenarios, simplicity often gives way to complexity. It’s important to explore how pullbacks can deviate from the ideal, straightforward model the Complex Pullback provides traders with a framework for trading pullbacks in real world scenarios. Wholesale inflation in India unexpectedly remained in deflation, with the wholesale price index falling 0.26% in September from a year ago.

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The Nikkei 225 Stock Average is Japan’s primary stock index and a barometer of the Japanese economy. It gauges the behavior of 225 large Japanese companies, covering a broad swath of industries. Broadly considered to be Japan’s equivalent to the Dow Jones Industrial Average, it includes the top 225 blue-chip companies listed on the Tokyo Stock Exchange. It also reduces the risk customizable hiring software rfp template of 1970s-style stagflation, which was in part driven by oil supply shocks. Our Chart of the Day is from YCharts, which shows that US oil production surged to a record high of 13.2 million barrels a day last week. Artificial intelligence-related stocks have rallied as the theme gained traction this year, with investors piling into favorites such as Nvidia and Microsoft.

The Monetary Authority of Singapore does not disclose any detail relating to this band. China reported a smaller-than-expected decline in exports in September compared to a year ago, while imports missed, according to customs data released Friday. The consumer price index was flat on an annual basis in September, data from the National Bureau of Statistics showed. It was below the median estimate for a 0.2% increase in a Reuters poll.

The cornerstone investors will commit $199.5 million, or about 39.9% of the IPO. Back in February, Reuters reported that the company had earlier aimed to raise at least $1 billion via a Hong Kong IPO in the second half of 2023. review faithful finance In Australia, the S&P/ASX 200 fell 0.35% to 7,027.90, while New Zealand’s S&P/NZX 50 Index closed 0.71% lower at 11,185.08. Most notably, China will release its third-quarter gross domestic product numbers on Wednesday.

On Wednesday, Asian markets witnessed mixed performances with Hong Kong’s Hang Seng Index and Japan’s Nikkei 225 Index experiencing growth, while Singapore’s FTSE Straits Times Index recorded a decline. Of the Tokyo Stock Exchange’s 33 industry groups, only mining, which includes energy companies, escaped losses. Birkenstock’s recent initial public offering (IPO) is expected to help boost shares of a British footwear brand, according to Investec analysts. The Monetary Authority of Singapore is expecting core inflation to «step down further to between 2.5% — 3.0% year-on-year by December,» it said in a statement Friday. «Prospects for the Singapore economy are muted in the near term but should improve gradually in H2 2024.»

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