By Scott Murdoch HONG KONG (Reuters) - Most Asian share markets opened a fraction higher on Tuesday, ahead of a key decision by Australia s central bank on its quantitative easing programme and despite ongoing concerns over the future regulation of China s powerful technology sector. U.S. markets were closed on Monday to mark the Independence Day holiday, leaving the Asian region without a strong lead to start trading on Tuesday. MSCI s broadest index of Asia-Pacific shares outside Japan was up 0.05%. In Hong Kong, the Hang Seng Index was down 0.7% while China s CSI300 was off by nearly 0.3%. Japan s Nikkei was up 0.45% while the S&P ASX200 stood 0.21% higher. In South Korea, the Kospi 200 Index rose 0.5% in early trade.
By Syndicated Content
Jul 5, 2021 | 3:57 PM
WASHINGTON (Reuters) â The Biden administration is pushing for a âcompromise solutionâ in stalled OPEC+ oil output talks, a White House spokesperson said on Monday.
OPEC+ ministers called off those talks on Monday after the United Arab Emirates rejected a proposed eight-month extension to curbs on output. Four OPEC+ sources told Reuters there has been no progress toward a deal.
âThe United States is closely monitoring the OPEC+ negotiations and their impact on the global economic recovery from the COVID-19 pandemic,â the White House spokesperson said in a statement.
âWe are not a party to these talks, but Administration officials have been engaged with relevant capitals to urge a compromise solution that will allow proposed production increases to move forward.â
KUALA LUMPUR: The ringgit opened marginally higher against the US dollar on Tuesday, supported by firmer crude oil prices.
At 9am, the local note ticked up to 4.1555/1590 against the greenback from 4.1560/1575 at Monday’s close.
At the time of writing, international oil benchmark Brent crude was 0.09 per cent higher at US$77.23 per barrel.
Bank Islam Malaysia Bhd economist Adam Mohamed Rahim said there was a fallout on Monday between the United Arab Emirates (UAE) with Saudi Arabia during the Organisation of the Petroleum Exporting Countries and allies (OPEC+) meeting so a proposed increase in oil output by about 2.0 million barrels per day from August would not take place.
Tuesday, 06 Jul 2021 10:17 AM MYT
At 9am, the local note ticked up to 4.1555/1590 against the greenback from 4.1560/1575 at Monday’s close. Reuters pic
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KUALA LUMPUR, July 6 The ringgit opened marginally higher against the US dollar today, supported by firmer crude oil prices.
At 9am, the local note ticked up to 4.1555/1590 against the greenback from 4.1560/1575 at yesterday s close.
At the time of writing, international oil benchmark Brent crude was 0.09 per cent higher at US$77.23 per barrel.
Bank Islam Malaysia Bhd economist Adam Mohamed Rahim said there was a fallout yesterday between the United Arab Emirates (UAE) with Saudi Arabia during the Organisation of the Petroleum Exporting Countries and allies (Opec+) meeting so a proposed increase in oil output by about 2.0 million barrels per day from August would not take place.
Asia opens higher, but China tech worries weigh on Hong Kong
By Scott Murdoch
Reuters
HONG KONG (Reuters) - Most Asian share markets opened a fraction higher on Tuesday, ahead of a key decision by Australia s central bank on its quantitative easing programme and despite ongoing concerns over the future regulation of China s powerful technology sector.
U.S. markets were closed on Monday to mark the Independence Day holiday, leaving the Asian region without a strong lead to start trading on Tuesday.
MSCI s broadest index of Asia-Pacific shares outside Japan was up 0.05%.
In Hong Kong, the Hang Seng Index was down 0.7% while China s CSI300 was off by nearly 0.3%.