Jul 5 - Oil market holding its breath as OPEC+ struggles to reach production deal boxden.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from boxden.com Daily Mail and Mail on Sunday newspapers.
Asia shares volatile as China tech worries remain Reuters 8 hrs ago
By Scott Murdoch
HONG KONG (Reuters) - Asian share markets were volatile on Tuesday, after Australia s central bank flagged some tapering in its quantitative easing programme and concerns over the future of China s powerful technology sector weighed down shares.
U.S. markets were closed on Monday to mark the Independence Day holiday, leaving the Asian region without a strong lead to trading on Tuesday.
MSCI s broadest index of Asia-Pacific shares outside Japan was down 0.1%.
In Hong Kong, the Hang Seng Index was down 0.44%, marking its sixth day of losses, while China s CSI300 was off by nearly 0.6% to an almost two-month-low.
July 6, 2021
Indians, reeling under the burden of high fuel prices, could be in for another jolt due to reasons that are mostly out of the country’s control.
A failure to resolve a rare standoff between the United Arab Emirates (UAE) and Saudi Arabia could push global crude oil prices up further.
The two Arab nations are in disagreement over a plan by the Organization of the Petroleum Exporting Countries (OPEC) that seeks to extend a cap on oil production. OPEC is an intergovernmental organisation of 13 oil-producing nations.
In 2020, when many countries went into Covid-19 lockdowns, OPEC made supply cuts to prop up prices and reduce an oversupply. OPEC had decided that the cuts will stay until April 2022. Then, between February and April this year, Saudi Arabia voluntarily made another production cut of 1 million barrels per day, of which only 250,000 barrels of production had been restored in May.
Provided by Dow Jones MARKET WRAPS Watch For: Eurozone Retail Sales; Germany Manufacturing Turnover/Orders, ZEW Indicator; U.K. Construction PMI; updates from BMW, Ocado, Sainsbury s, Telenor Opening Call: Europe faces a subdued start on Tuesday, lacking direction. In Asia, shares mostly struggled without Wall Street s lead, oil and gold extended gains, while the dollar and Treasury yields wavered. Equities: European shares face minor losses to start on Tuesday as investors weigh mixed leads, including sharply higher oil prices and the lifting of almost all Covid-19 restrictions in the U.K. on July 19. However, with U.S. markets closed on Monday to mark the Independence Day holiday, trading in Europe may waver until Wall Street reopens.
GLOBAL MARKETS-Asia shares volatile as China tech worries remain msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.