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Tencent Holdings (00700.HK): On June 9 (New York time), the Company entered into subscription agreements with the US dollar notes underwriter for the planned issuance of US$2.45 billion in US dollar notes and with the RMB notes underwriter for the planned issuance of RMB15 billion in RMB notes.On June 10th, Futures News reported that Trump stated a peace agreement with Iran was expected to be signed within two or three days, and US Energy Secretary Wright indicated a "significant increase" in ship traffic through the Strait of Hormuz. During Asian trading hours, oil prices continued their decline from Monday, with WTI falling below the $90 mark, briefly approaching $85, a drop of over 10% from its high in two trading days. In the early morning, oil prices rebounded sharply after Trump declared a response to the downing of a US military aircraft by Iran, narrowing the losses by the close. Crude oil prices have seen significantly increased volatility this week, and many uncertainties remain. Foreign media statistics show that US President Trump has declared an agreement "imminent" 37 times, but no agreement has been reached to date. Besides geopolitical factors, supply and demand are also negatively impacting the market. Oil prices have already fallen back to around $90, and the potential for further significant declines in the short term is relatively limited. If US-Iran negotiations do not proceed smoothly, oil prices still have a high probability of rebounding.1. U.S. stock indexes closed mixed. The Dow Jones Industrial Average rose 0.17% to 50,872.11 points, the S&P 500 fell 0.26% to 7,386.65 points, and the Nasdaq Composite fell 0.97% to 25,678.82 points. Home Depot and Sherwin-Williams rose more than 3%, leading the Dow Jones gains. The Wind U.S. Tech Big Seven Index fell 1.24%, with Apple falling more than 3% and Tesla falling 3%. The Nasdaq China Golden Dragon Index fell 0.39%, with Daqo New Energy falling more than 7% and Jinko Solar falling nearly 7%. 2. European stock indexes closed mixed. The German DAX fell 0.74% to 24,433.06 points, the French CAC40 rose 0.05% to 8,203.43 points, and the UK FTSE 100 fell 1.41% to 10,227.33 points. 3. The WTI crude oil futures contract closed down 2.85% at $88.7 per barrel; the Brent crude oil futures contract fell 2.57% to $91.83 per barrel. 4. International precious metals futures generally closed lower, with COMEX gold futures down 1.80% to $4284.80 per ounce and COMEX silver futures down 4.56% to $65.46 per ounce.Sources say SpaceX has informed investors that it aims to begin testing orbital AI computing in 2027.According to Iranian state media, the situation has now calmed down following the US attack on southern Iran.

Oil Prices Stabilize After Sliding on Rate Rise Concerns, While Russian Crude Flows

Haiden Holmes

Jan 31, 2023 11:30

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Oil prices stabilized in early Asian trade on Tuesday, after plunging more than 2% in the previous session due to the possibility of additional interest rate hikes and ongoing Russian oil exports.


By 01:55 GMT, Brent crude prices rose 28 cents to $85.18 per barrel, while U.S. West Texas Intermediate (WTI) crude futures rose 9 cents to $77.99 per barrel.


Investors anticipate that the U.S. Federal Reserve will boost interest rates by 25 basis points on Wednesday, followed by a half-point hike by the Bank of England and European Central Bank on Thursday. Increasing interest rates could slow the global economy and reduce oil demand.


The market also focused on a planned virtual conference of the ministers of the Organization of the Petroleum Exporting Countries (OPEC) and others, including Russia, on February 1 at 1100 GMT. This group is known as OPEC+.


Five OPEC+ members told Reuters on Monday that the panel is anticipated to propose maintaining the oil producing group's existing output policy intact when it meets this week.


In October, OPEC+ agreed to reduce its production target by 2 million barrels per day (bpd), or around 2% of global demand, from November through the end of 2023.


Russia continues to provide oil to the global market despite a European Union boycott and G7 price ceiling imposed in response to its invasion of Ukraine, which pushed up prices.


Providing some support for oil prices, the U.S. dollar index has declined 1.3% thus far in January. A weakening dollar reduces the price of crude oil for foreign buyers.

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