Gold gained for a second day as markets digested the latest US inflation data ahead of a Federal Reserve meeting later this week, where policymakers are expected to set the stage for a September rate cut. Bullion rose as much as 0.7% in early Asian trading after closing 1% higher on Friday following a report that…
The yen was poised for its strongest week in nearly three months on Friday as traders unwound their long-held bets against the frail currency ahead of crucial U.S. inflation data that could cement rate cut expectations. The yen has dominated the currency markets this month, surging to a near three-month high of 151.945 per dollar…
Japanese shares closed the week lower, even as the yen strengthened to its strongest week in nearly three months, fueled by expectations that the interest rate gap between Japan and the US will narrow. The Nikkei 225 dropped 0.53%, or 202.10 points, finishing at 37,667.41. The yen hit 153.625 on Friday, marking a 2.3% weekly…
The Hang Seng Index opened 1.1% higher at 17,189.34 in Hong Kong. Tencent Holdings Ltd. contributed the most to the index gain, increasing 1.8%. Haier Smart Home Co. had the largest increase, rising 5.7%. In early trading, 71 of 82 shares rose, while 11 fell; all sectors were higher, led by commerce and industry stocks….
The Hang Seng Index opened 0.8% lower, dropping 143.63 to 17,167.42, as stocks lose for the third straight day in Hong Kong. Meituan contributed the most to the index decline and had the largest move, decreasing 3.6%. In early trading, 64 of 82 shares fell, while 12 rose; 2 of 4 sectors were lower, led…
Oil fell, joining a retreat in commodities and equity markets, as a soft outlook for China’s economy outweighed lower US stockpiles. Brent dropped toward $81 a barrel after gaining 0.9% on Wednesday, with West Texas Intermediate near $77. While Beijing further eased monetary policy on Thursday, there’s underlying concern that its slowdown will hamper crude demand. Equities and commodities including copper were…
