EUR/USD 1.17292
-0.057%
Gold 3644.81
0.019%
Oil 62.853
0.948%
USD/JPY 147.461
-0.081%
GBP/USD 1.35638
0.020%
GBP/JPY 200.016
-0.064%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The main contract of industrial silicon rose by more than 3% and is now quoted at 8,995 yuan/ton.On September 15, the overnight shibor was 1.4080%, up 4.10 basis points; the 7-day shibor was 1.4700%, up 1.00 basis points; the 14-day shibor was 1.5040%, down 2.00 basis points; the January shibor was 1.5330%, up 0.10 basis points; and the March shibor was 1.5530%, the same as the previous trading day.According to futures data on September 15, overnight shibor was 1.4080%, up 4.10 basis points; 7-day shibor was 1.4700%, up 1.00 basis points; 14-day shibor was 1.5040%, down 2.00 basis points; January shibor was 1.5330%, up 0.10 basis points; March shibor was 1.5530%, the same as the previous trading day.On September 15th, Pop Mart (09992.HK) plunged nearly 9% on Monday, its biggest drop since April, hitting its lowest level in over a month, after JPMorgan Chase downgraded its rating to neutral, citing a "lack of catalysts and unattractive valuation." This followed social media posts pointing to weak demand for its new "SKULLPANDA" product, and JPMorgans downgrade heightened market concerns about waning popularity. JPMorgan analysts Kevin Yin and others stated in a report: "Current valuations already reflect perfect expectations. Any minor fundamental disappointment or negative media coverage (such as falling pre-owned prices or third-party licensing issues) could trigger a share price decline." Although the stock has still risen over 180% this year, its 12-month forward price-to-earnings ratio is now close to 23 times.On September 15th, the market generally expected the Federal Reserve to cut interest rates by 25 basis points this week, but uncertainty remained about the direction of the policy once it was implemented. Marc Giannoni, Barclays chief US economist, stated that with inflation remaining subdued, the FOMC will judge that downside risks to achieving its employment goals are increasing. He added that the Feds economic projections remained largely unchanged, but the dot plot indicated three rate cuts (each 25 basis points) this year, one each in 2026 and 2027, while the median long-term interest rate forecast remained unchanged at 3.0%.

Oil Prices Extend Their Gains Following China's Stimulus Announcement

Haiden Holmes

Apr 27, 2022 09:35

O4.png


Oil prices increased in early Asian trade on Wednesday, extending gains from the previous session on China's central bank's announcement that it will bolster the country's economy.


Concerns over demand, on the other hand, weighed on futures as Beijing officials scrambled to contain a nascent COVID-19 outbreak and escape the same crippling city-wide lockdown that has engulfed Shanghai for a month.


By 0019 GMT, Brent crude futures had risen $1.11, or 1.1 percent, to $106.10 a barrel. West Texas Intermediate crude futures in the United States increased by 84 cents, or 0.8 percent, to $102.54 a barrel.


Crude oil prices increased by roughly 3% in the previous session's turbulent activity.


China's central bank announced Tuesday that it will strengthen its economy's prudent monetary policy support. Any stimulus would increase demand for oil.


Meanwhile, Russia's Gazprom (MCX:GAZP) has informed Poland's PGNiG that it will suspend gas deliveries along the Yamal pipeline beginning Wednesday morning, according to a statement from PGNiG. Poland will be required to make payments under a new arrangement on Tuesday, Gazprom said.


The announcement boosted NYMEX ultra-low sulfur diesel futures by more than 9% on Tuesday, settling at a record close of $4.47 per gallon.


In terms of supply, the US government will release data on crude stocks later Wednesday. According to industry figures released Tuesday, US crude and distillate inventories increased last week, but gasoline inventories decreased.

Suggestion