Economic news

The first trading session of 2021 proved to be fruitful for the European shares as optimism over the Brexit trade deal and coronavirus vaccines lorded over the Western financial markets. The pan-regional STOXX 600 index increased 1.2%, duplicating February 2020 highs, with mining and travel & leisure stocks among the top performers. London’s blue-chip index […]

Sliding from all-time peaks are Wall Street shares after the first trading day of the year showed an ebbing risk appetite amidst resurging coronavirus infections and upcoming Georgia elections. After posting a record high earlier in the session together with the S&P 500, the Dow was also dragged down by more than 4% in Boeing […]

The dollar opened 2021 by sliding on Monday as investors went on a sell-off in Asian trade, betting that the pandemic recovery will boost other currencies. The euro, which fell on New Year’s Eve profit-taking, gained 0.3% to $1.2252. The pound firmed at $1.3698, levels not seen since early 2018. The yuan surged 0.9% to […]

Oil prices climbed on Monday on expectations that OPEC+ may limit output at current levels starting February at a meeting later in the day. This was decided as the coronavirus pandemic heightens concerns about oil demand in the first half of the year. Brent crude for March contract rose 1.2%, or 62 cents, at $52.42 […]

Tesla Inc on Saturday posted 2020 vehicle deliveries that bested estimates but narrowly missed its target for the year. In 2020, Tesla delivered a total of 499,550 vehicles, surpassing Wall Street’s estimate of 481,261 vehicles, according to Refinitiv data. The actual figures, however, are 50 units shy of Elon Musk’s targeted deliveries. Over the last […]

After recording an all-time high of $34,800 in Asia trade on Sunday, Bitcoin continued to post upbeat figures, hitting $33,365 in Asia on Monday trade. With sustained support from investors, Bitcoin is on its way to becoming a mainstream asset. Less than three weeks ago, Bitcoin posted its milestone of reaching $20,000 for the first […]

Factory activity in Asia advanced modestly in December, business polls showed on Monday. The expansion followed after China saw an increase in demand, indicating that manufacturers across the region are starting to recover from the initial damage of the coronavirus crisis. China’s Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) was read at 53.0 in December. While […]

Asian share markets extended their rally on Monday. This followed after investors were seen enthusiastic over the prospect of a brisk economic recovery brought by coronavirus vaccines. However, impending reinforcements of virus restrictions in Tokyo dragged Japanese shares from their 30-year high record. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.8%, hitting its […]

A Thomson Reuters/INSEAD survey gauged Asian firms’ confidence at its highest level this year in the fourth quarter. The upbeat reading followed after business activity accelerated across the region and as Western countries started their inoculation ahead of Asia. The Thomson Reuters/INSEAD Asian Business Sentiment Index was read at 63, placing higher than the 53 […]

While Treasuries advanced, majority of financial markets were seen subdued as U.S. stock futures and commodities reached low grounds on Friday. The mixed performance came after Donald Trump threatened not to legislate a long-awaited stimulus bill. S&P 500 e-minis plunged half a percent during their mid-day session in Asia. Meanwhile, European and British equity futures […]