Asian shares and U.S. stock futures recorded a frail performance on Tuesday, erasing previous earnings as oil prices declined sharply. The weak trading activity monitored in oil prices dampened investors’ sentiment regarding pandemic-related policies implemented worldwide.
MSCI’s broadest index of Asia-Pacific shares outside Japan declined by 0.3%. Chinese shares .CSI300 dropped with a 0.7% loss while South Korean shares edged down with 0.22%.
Oil futures slumped deeper after the biggest U.S. oil exchange-traded fund decided to sell all its front-month crude contracts. The scheme is set to negate further drawbacks amid contracting oil prices.
Some investors believe that the world economy may recuperate soon as more countries re-open businesses. However, others remain cautious as the cure for the deadly respiratory disease has yet to be developed.
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
Asian stocks advanced on the prospect of ultra-easy monetary policy as the U.S. Federal Reserve kept interest rates near zero. Fed deemed it necessary to salvage the ailing economy, dragging the dollar down to a two-year low. The target range ...