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POPULAR NEWS
Oil Dips as U.S.-China Tensions Add to Nerves on Global Economy

Oil edged lower as an escalating war of words between the U.S. and China added to caution over the prospects for a global recovery in demand. Futures in New York lost 0.4% in Asian trading after falling 2% on Friday. China warned that some in the U.S. were pushing the countries toward a new Cold War, stoking concerns that deteriorating relations between the superpowers could complicate the market™s recovery from a historic demand crash. Beijing last week abandoned its decades-long practice...

Hong Kong Shares Begin On Negative Note

Hong Kong stocks started Monday with more losses, extending a sharp drop at the end of last week, after the city saw fresh street clashes over a controversial security law proposed by China. The Hang Seng Index fell 0.89 percent, or 204.44 points, to 22,725.70. China's benchmark Shanghai Composite Index edged up 0.09 percent, or 2.48 points, to 2,816.24, while the Shenzhen Composite Index on the country's second exchange dipped 0.09 percent, or 1.59 points, to 1,750.83. Source: AFP

Tokyo stocks open higher on virus hopes

Tokyo stocks opened higher on Monday on expectations the state of emergency will be lifted for the whole nation including economic powerhouse Tokyo. The benchmark Nikkei 225 index was up 1.37 percent or 279.75 points at 20,667.91 in early trade, while the broader Topix index advanced 1.16 percent or 17.20 points to 1,495.00. Source:  AFP

Oil Heads for Biggest Weekly Gain in Seven on Trade War Optimism
Friday, 30 August 2019 18:53 WIB | COMMODITY |MinyakWTIBrent

Oil headed for its biggest weekly increase since mid-July after a sizable drop in American crude inventories and an apparent pause in U.S.-China trade hostilities eased demand fears.

Futures in New York fell 0.9% on Friday but are up 3.7% for the week. China said Thursday that it wouldn™t immediately retaliate against the latest White House tariff increase, spurring optimism that Beijing wants to reach a deal. Traders were watching for any disruptions from Hurricane Dorian, which was forecast to become a major storm later on Friday as it heads toward Florida.

Despite this week™s gains, oil remains under pressure as the outlook for the global economy continues to be weak and the U.S. produces at record-high levels. The Organization of Petroleum Exporting Countries and its allies said this week they expect to deplete the global oil surplus with their cuts, and falling inventories in America are indicating some level of success.

West Texas Intermediate for October delivery declined 53 cents, or 0.9%, to $56.18 a barrel on the New York Mercantile Exchange as of 11:25 a.m. London time. The contract is heading for the biggest weekly gain since July 12.

Brent for October settlement lost 5 cents, or 0.1%, to $61.03 a barrel on the ICE Futures Europe Exchange, and is up 2.9% this week. The global benchmark crude traded at a $4.50 premium to WTI on Friday.

Source : Bloomberg

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POPULAR NEWS
Oil Dips as U.S.-China Tensions Add to Nerves on Global Economy

Oil edged lower as an escalating war of words between the U.S. and China added to caution over the prospects for a global recovery in demand. Futures in New York lost 0.4% in Asian trading after falling 2% on Friday. China warned that some in the U.S. were pushing the countries toward a new Cold War, stoking concerns that deteriorating relations between the superpowers could complicate the market™s recovery from a historic demand crash. Beijing last week abandoned its decades-long practice...

Hong Kong Shares Begin On Negative Note

Hong Kong stocks started Monday with more losses, extending a sharp drop at the end of last week, after the city saw fresh street clashes over a controversial security law proposed by China. The Hang Seng Index fell 0.89 percent, or 204.44 points, to 22,725.70. China's benchmark Shanghai Composite Index edged up 0.09 percent, or 2.48 points, to 2,816.24, while the Shenzhen Composite Index on the country's second exchange dipped 0.09 percent, or 1.59 points, to 1,750.83. Source: AFP

Tokyo stocks open higher on virus hopes

Tokyo stocks opened higher on Monday on expectations the state of emergency will be lifted for the whole nation including economic powerhouse Tokyo. The benchmark Nikkei 225 index was up 1.37 percent or 279.75 points at 20,667.91 in early trade, while the broader Topix index advanced 1.16 percent or 17.20 points to 1,495.00. Source:  AFP

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