Oil Prices Extend Decline As OPEC+ May Increase Productions
Oil prices extended losses in Asia session as supply outlook weighed on investors as Organization of Petroleum Exporting Countries and allies is expected to deliver another production hike in the upcoming meeting.
Asia Market Update: Most Markets Rise On Hopes Of Fed Rate Cut
Most markets in Asia-Pacific region advanced as weak economic data from the US raised hopes for a rate cut. Further, US President Donald Trump again expressed his displeasure for no quick rate cut by the Federal Reserve.
The KOSPI and Hang Seng were trading 1.63% and 0.99% higher, respectively as of 8:22 a.m.
US Market Update: End Mixed As Treasuries Rally Post Disappointing Jobs Data
US share indices ended on a mixed note on Wednesday as private jobs data showed less new openings than expected. Moreover, service sector in the world’s largest consumer-focused economy went into contraction zone. These data fuelled expectation of a rate cut.
Dow Jones Industrial Average fell 0.22% at 42,427.74. S&P 500 rose 0.01% at 5,970.81. Nasdaq Composite rose 0.32% at 19,460.49
GIFT Nifty Implies Higher Open; HAL, Waaree Energies, Honasa Consumer In Focus
The GIFT Nifty was trading 0.03% or 8 points higher at 24,744 as of 6:34 a.m., which implied a slightly higher start for the benchmark Nifty 50. Most markets in Asia were trading higher in early trade, which may provide some relief.
Investors may monitor Force Motors Ltd., Hindustan Aeronautics Ltd., Power Grid Corp., Waaree Energies Ltd., and Honasa Consumer Ltd. because of the overnight news flow.
On Wednesday, benchmark equity indices closed higher, ending a three-day losing streak. The NSE Nifty 50 ended 77 points, or 0.32% higher at 24,620, while the BSE Sensex closed 260.74 points, or 0.32% up at 80,998.
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