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POPULAR NEWS
Stocks end mixed; Nasdaq suffers 0.6% weekly fall

Stocks saw a mixed finish to a choppy session Friday, with the Dow Jones Industrial Average taking back a modest portion of the previous session's more-than-300-point decline. The tech-heavy Nasdaq Composite lagged behind, falling 0.5% to finish around 7,449, according to preliminary figures, and leaving it with a 0.6% weekly loss. The S&P 500 ended less than 0.1% lower near 2,768, leaving it virtually unchanged on the week. The Dow rose around 65 points, or 0.3%, to close near...

Shanghai Stocks Rally after Supporting Remarks (Review)

Shanghai stocks rebounded from early losses to surge more than two percent Friday after top economic officials made rare coordinated statements aimed at shoring up investor confidence in the country's troubled markets. The benchmark Shanghai Composite Index jumped 2.58 percent, or 64.05 points, to 2,550.47 but it still finished the week 2.1 percent lower. The Shenzhen Composite Index, which tracks stocks on China's second exchange, also gained 2.58 percent, or 31.80 points, to 1,263.81 but...

Euro finds footing as EU softens Italy criticism

Foreign exchange markets reflected an improvement in risk sentiment after sluggish data on Chinese economic growth was offset by words of support Chinese authorities on Friday. Also, a European Union official attempted to ease tensions with Italy over the government™s fiscal plans, helping soothe fears of a budget showdown between Rome and Brussels and boosting the euro. European Economic Affairs Commissioner Pierre Moscovici said Italy was strongly committed to the EU and the euro, and...

China Crude Imports Top U.S. in 2017 as New Plants Boost Demand
Friday, 12 January 2018 11:32 WIB | GLOBAL |AmerikaGlobalchina

China passed the U.S. as the largest importer of oil last year as new refining capacity and independent buyers boosted demand.

Inbound shipments averaged about 8.43 million barrels a day in 2017, up about 10 percent from a year earlier, according to Bloomberg calculations using General Administration of Customs data released Friday.

Imports may jump another 10 percent this year, according to BMI Research, as the country seeks to offset declines in domestic output and regulatorsexpanded overseas oil quotas. China raised the allowance for use of overseas oil by non-state companies for 2018 by 63 percent, according to the Ministry of Commerce, a further boon to the country™s buying.

The nation™s expanding appetite for crude was buoyed last year by an expansion at China National Offshore Oil Corp.™s flagship Huizhou refinery and the startup of PetroChina Co.™s new plant in Yunnan. Friday™s data showed the world™s largest energy user imported a total of 420 million metric tons of crude last year, up 10.1 percent from 2016.

Overseas shipments into the U.S. were about 7.9 million barrels a day last year, according to Bloomberg calculations using weekly government data.

Source : Bloomberg

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POPULAR NEWS
Stocks end mixed; Nasdaq suffers 0.6% weekly fall

Stocks saw a mixed finish to a choppy session Friday, with the Dow Jones Industrial Average taking back a modest portion of the previous session's more-than-300-point decline. The tech-heavy Nasdaq Composite lagged behind, falling 0.5% to finish around 7,449, according to preliminary figures, and leaving it with a 0.6% weekly loss. The S&P 500 ended less than 0.1% lower near 2,768, leaving it virtually unchanged on the week. The Dow rose around 65 points, or 0.3%, to close near...

Shanghai Stocks Rally after Supporting Remarks (Review)

Shanghai stocks rebounded from early losses to surge more than two percent Friday after top economic officials made rare coordinated statements aimed at shoring up investor confidence in the country's troubled markets. The benchmark Shanghai Composite Index jumped 2.58 percent, or 64.05 points, to 2,550.47 but it still finished the week 2.1 percent lower. The Shenzhen Composite Index, which tracks stocks on China's second exchange, also gained 2.58 percent, or 31.80 points, to 1,263.81 but...

Euro finds footing as EU softens Italy criticism

Foreign exchange markets reflected an improvement in risk sentiment after sluggish data on Chinese economic growth was offset by words of support Chinese authorities on Friday. Also, a European Union official attempted to ease tensions with Italy over the government™s fiscal plans, helping soothe fears of a budget showdown between Rome and Brussels and boosting the euro. European Economic Affairs Commissioner Pierre Moscovici said Italy was strongly committed to the EU and the euro, and...

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