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Shares in Hong Kong climbed 100 points or 0.58% to 17,294 in early trade on Thursday, swinging from weaknesses in the prior two sessions while running away from an over 11-month low hit the day before, encouraged by a rebound on Wall Street overnight after US Treasury yields eased from 16-year highs following much weaker-than-expected jobs data. Investors were also upbeat after Citigroup Inc. raised its 2023 growth forecast for China to 5%, amid optimism that the economy has begun to bottom out. Meantime, Beijing on the first day of the Golden Week holidays had released a number of measures to revive tourism activity and unleash consumption. Locally, Hong Kong reportedly is accelerating action on a proposal to keep financial markets open during extreme weather like typhoons.

Hong Kong Stocks Snap 2-Day Losses

The Central Bank of Sri Lanka lowered its benchmark interest rates by 100bps  to 10% during the October 2023 meeting, amid easing inflation, as widely expected. Headline inflation is expected to stabilize at the target rate of 5% over the medium term.

Sri Lanka Cuts Key Policy Rate as Expected

Brent crude futures stabilized around $86 per barrel on Thursday as OPEC+ made no changes to its output policy and maintained previously announced production cuts. That would include Saudi Arabia’s voluntary output cut of 1 million barrels per day and Russia’s 300,000 bpd voluntary export curb until the end of the year. Meanwhile, the international oil benchmark plunged over 5% on Wednesday to its lowest levels in a month after official data indicated extremely weak US fuel demand. The EIA reported US gasoline demand’s four-week average fell last week to 8.3 million bpd, the lowest for this time of the year since 1998. Oil prices were also pressured by news that Russia may lift its diesel ban in the coming days. Moreover, investors turned cautious amid growing concern about a looming slump in global economic growth.

Brent Stabilizes After Sharp Decline

WTI crude futures stabilized above $84 per barrel on Thursday as OPEC+ made no changes to its output policy and maintained previously announced production cuts. That would include Saudi Arabia’s voluntary output cut of 1 million barrels per day and Russia’s 300,000 bpd voluntary export curb until the end of the year . Meanwhile, the US oil benchmark plunged over 5% on Wednesday to its lowest levels in a month after official data indicated extremely weak US fuel demand. The EIA reported US gasoline demand’s four-week average fell last week to 8.3 million bpd, the lowest for this time of the year since 1998. Oil prices were also pressured by news that Russia may lift its diesel ban in the coming days. Moreover, investors turned cautious amid growing concern about a looming slump in global economic growth.

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We are friends with the trend on DJ30

Since gold didn't test our level

Wickfill incoming on GBPJPY

We ride the trend on AUDUSD

Latest News

Hong Kong Stocks Snap 2-Day Losses

Sri Lanka Cuts Key Policy Rate as Expected

Brent Stabilizes After Sharp Decline

Oil Stabilizes After Sharp Decline

Upcoming Events

Japan 6-Month Bill Auction

Japan 30-Year JGB Auction

Germany Balance of Trade

Germany Exports MoM

Trending Symbols And Events

Most latest news, events and ideas for smart decisions

Latest Ideas

We are friends with the trend on DJ30

Since gold didn't test our level

Wickfill incoming on GBPJPY

We ride the trend on AUDUSD

Latest News

Hong Kong Stocks Snap 2-Day Losses

Sri Lanka Cuts Key Policy Rate as Expected

Brent Stabilizes After Sharp Decline

Oil Stabilizes After Sharp Decline

Upcoming Events

Japan 6-Month Bill Auction

Japan 30-Year JGB Auction

Germany Balance of Trade

Germany Exports MoM