Breaking News

Asian equities tumble on renewed oil decline, gold edges up

News Date: 15/1/2016 00:46:09
 
Oil resumed its downward spiral after a halt yesterday cheered battered U.S. markets. Brent crude futures lost 46 cents, or 1.50% to trade at $30.54 a barrel, after making its first daily gain of the year yesterday, rising 2.67%. The futures are on track for a hefty weekly loss of 9%, while U.S. crude futures had it even worse, sliding 62 cents for the day, or 2 percent to $30.58 a barrel, with a weekly loss of nearly 8%.

Asian shares dropped to 3-1/2 year lows as the oil decline spooks investors, and after China data showed weaker-than-expected yuan borrowing in December. China's Shanghai index gave up 2.34%, while Japan's Nikkei fell 0.80%. Hong Kong's Hang Seng index lost 1.40%. Australia's S&P/ASX 200 index skidded 0.35%, while Korea's KOSPI dived 1.20%.

Wall Street closed with strong gains after the brief oil recovery lifted energy shares more than 4%. The Dow Jones ended higher 227 points, or 1.41% at 16,379. NASDAQ jumped 88 points, or 1.97% to 4,615. S&P 500 added 31 points, or 1.67% to close at 1,921.

Precious metals were buoyed by investors seeking safe havens in such turmoil, with gold futures rising nearly seven dollars, or 0.62% to $1,082 an ounce, while silver futures notched up 9 cents, or 0.63% to trade at $13.83 an ounce. Industrial metals had it bad however on fears of China growth, with copper futures slipping half a percent to $1.964 a pound.

The dollar index, which measures its performance against a basket of its peers, edged down 0.10% to 99.01, Dollar slipped 0.18% against the euro to 1.0885, while inching up 0.06% against sterling to 1.4403. Safe-haven yen rose strongly against the greenback as the risk-off sentiment strengthens, with the Japanese currency advancing 0.30% to 117.77.

A spate of U.S. data is awaited today, most importantly retail sales for December, forecast to show a 0.1% m/m drop, while the Producer Price Index (PPI) is expected to fall 0.2% m/m, both would negative for the dollar.

Latest news

Gold futures rose for December delivery according to the Asian session on Friday. As it increased by 0.47%, to be traded at the price of 1959.00 dollars per ounce, and it was previously traded at a
09-2020 18 06:02:31

Oil prices rose this morning, due to the halt in oil and gas production due to a hurricane in the United States of America, as the price of crude oil increased by approximately 1.5%, reaching 41.13 d
09-2020 16 06:30:20

We open the trading week with a rise in gold prices today, after it witnessed a decline in the last days of last week, as it is a safe haven for investors, especially when crises that negatively affe
09-2020 14 06:22:57

Gold prices experienced a remarkable decline at the beginning of the week after it concluded its Asian trading at a high, affected by the great rush of investors, if this morning the gold futures con
08-2020 31 08:11:31

We start today's events, Tuesday, by the rise in oil prices affected by the easing of precautionary measures to combat turquoise corona in the world. US West Texas crude futures are expected to decre
08-2020 26 04:51:45

More News

Logs

Advertisements