asia markets down as energy firms hit by oil rout dollar rises
Last Updated : GMT 09:03:51
Almaghrib Today, almaghrib today
Almaghrib Today, almaghrib today
Last Updated : GMT 09:03:51
Almaghrib Today, almaghrib today

Asia markets down as energy firms hit by oil rout, dollar rises

Almaghrib Today, almaghrib today

Almaghrib Today, almaghrib today Asia markets down as energy firms hit by oil rout, dollar rises

A plunge in oil prices has raised concerns
Hong Kong - AFP

Energy firms led a broad sell-off in Asian markets Thursday following a five percent plunge in oil prices, but the dollar held on to gains after a surprisingly strong US jobs report.
Wall Street suffered another loss after a closely watched report showed a shock surge in US oil inventories that rekindled worries about a global supply glut that has hammered the crude market since mid-2014.
The Energy Department revealed a whopping eight million barrel increase in supplies over the past week -- four times more than expected -- owing to higher domestic production and increased stockpiling.
The news battered the oil market, with both main contracts slumping more than five percent to lows not seen since the end of last year. 
Jeffrey Halley, senior market analyst at OANDA, said the report was the "straw that broke the camel’s back", with concerns already abound that Russia was not pulling its weight on much-vaunted production cuts agreed between OPEC and non-OPEC countries in November.
And Greg McKenna, chief market strategist at AxiTrader, said there is growing unease that too much of the burden on reducing output is being shouldered by OPEC nations, particularly kingpin Saudi Arabia.
While oil edged back up Thursday, Asian energy firms took the heat. Japan's Inpex shed 1.2 percent, Hong Kong-listed PetroChina dived 2.2 percent and CNOOC lost 1.8 percent, while Woodside Petroleum fell 1.1 percent in Sydney.
- US jobs sparkle -
That in turn hit wider markets, with Hong Kong down 1.2 percent and Shanghai 0.7 percent off at the close. Traders brushed off another jump in China's factory gate prices -- the highest in eight years -- that indicate a return to inflation in the country, with consumer inflation continuing struggle.
Sydney fell 0.3 percent and Seoul was 0.2 percent off and Singapore slipped 0.9 percent. Taipei dived one percent.
"The data catalysed a new wave of glut concerns as the higher oil price might spur North American's production, especially of shale oil, which may ultimately counterbalance OPEC's effort to support oil prices," said CMC Markets analyst Margaret Yang.
The oil figures overshadowed a surprise jump in private jobs creation in the US, which beefed up expectations for Friday's key government jobs report and reinforced expectations the Federal Reserve will hike interest rates next week. 
That in turn fired a rally in the dollar, which peaked close to 115 yen Wednesday before paring the gains, with traders still uncertain as President Donald Trump has provided little detail on his plans to ramp up infrastructure spending and cut taxes.
The dollar advance on the yen provided the region with one of its only advances as Tokyo added 0.3 percent to end a four-day losing streak.
Also acting as a weight on further dollar gains are concerns about upcoming elections in France and the Netherlands as well as geopolitical crises including North Korea's recent missile test.
The euro dipped ahead of a closely watched policy meeting by the European Central Bank later in the day.
In early European trade London fell 0.5 percent while Frankfurt and Paris each lost 0.3 percent
- Key figures around 0800 GMT - 
Tokyo - Nikkei 225: UP 0.3 percent at 19,318.58 (close)
Hong Kong - Hang Seng: DOWN 1.2 percent at 23,501.56 (close)
Shanghai - Composite: DOWN 0.7 percent at 3,216.75 (close)
London - FTSE 100: DOWN 0.5 percent at 7,294.88
Euro/dollar: DOWN at $1.0540 from $1.0544
Pound/dollar: UP at $1.2158 from $1.2165
Dollar/yen: UP at 114.48 yen from 114.31 yen
Oil - West Texas Intermediate: UP 34 cents at $50.62 per barrel
Oil - Brent North Sea: UP 46 cents at $53.57 per barrel
New York - Dow: DOWN 0.3 percent at 20,855.73 (close)


Source : AFP

almaghribtoday
almaghribtoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

asia markets down as energy firms hit by oil rout dollar rises asia markets down as energy firms hit by oil rout dollar rises

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

asia markets down as energy firms hit by oil rout dollar rises asia markets down as energy firms hit by oil rout dollar rises

 



Almaghrib Today, almaghrib today Skincare PR Performance Full Year 2017

GMT 09:22 2018 Monday ,22 January

Skincare PR Performance Full Year 2017
Almaghrib Today, almaghrib today New hunt for flight MH370 gets under way

GMT 11:03 2018 Wednesday ,24 January

New hunt for flight MH370 gets under way
Almaghrib Today, almaghrib today Modern colorful bedroom renovation

GMT 10:57 2017 Thursday ,21 December

Modern colorful bedroom renovation
Almaghrib Today, almaghrib today Puigdemont candidate for Catalan president

GMT 13:56 2018 Tuesday ,23 January

Puigdemont candidate for Catalan president
Almaghrib Today, almaghrib today Turkey detains dozens more

GMT 10:47 2018 Wednesday ,24 January

Turkey detains dozens more
Almaghrib Today, almaghrib today The Rake announces editorial updates

GMT 10:46 2018 Tuesday ,16 January

The Rake announces editorial updates
Almaghrib Today, almaghrib today Europe brings on charm and blue skies

GMT 11:51 2018 Tuesday ,23 January

Europe brings on charm and blue skies
Almaghrib Today, almaghrib today For the Variety of Interior Design Styles

GMT 10:46 2017 Tuesday ,19 December

For the Variety of Interior Design Styles
Almaghrib Today, almaghrib today US Christian tourists see deep meaning

GMT 13:44 2018 Monday ,22 January

US Christian tourists see deep meaning
Almaghrib Today, almaghrib today Amazon to open first cashierless shop

GMT 10:03 2018 Tuesday ,23 January

Amazon to open first cashierless shop

GMT 09:45 2018 Friday ,19 January

Syria threatens to 'destroy' Turkish warplanes

GMT 17:41 2011 Thursday ,12 May

Scottish football, Celtic win

GMT 10:35 2011 Tuesday ,07 June

Saudi house backs women voting right in 2015

GMT 17:11 2017 Thursday ,12 January

Spanish King Felipe VI arriving on 3-day

GMT 08:08 2015 Monday ,23 February

White and silver, lots of beads

GMT 23:56 2015 Sunday ,30 August

Etisalat Award dates revised to September 15

GMT 21:50 2013 Saturday ,28 September

Venturi aims for EV speed record

GMT 17:23 2017 Friday ,21 April

Raja’s footballer happy for returning to pitch

GMT 05:12 2016 Wednesday ,28 December

UAE markets to remain closed on Sunday, January 1

GMT 09:09 2017 Thursday ,23 February

Seeks Tokyo gold, and more

GMT 00:03 2016 Thursday ,08 December

India Launches Remote Sensing Satellite RESOURCESAT-2A

GMT 14:28 2014 Wednesday ,19 November

Surge in Jewellery Arabia 2014 exhibits in Bahrain

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 08:06 2017 Saturday ,19 August

Nadal, Pliskova face double duty to reach semi-finals

GMT 04:58 2017 Tuesday ,02 May

Hyatt plans to double brand presence in Mideast

GMT 21:27 2017 Sunday ,22 January

Trump-Netanyahu meeting may be held

GMT 10:52 2012 Thursday ,07 June

Innovative plate collection
Almaghrib Today, almaghrib today
 
 Almaghrib Today Facebook,almaghrib today facebook  Almaghrib Today Twitter,almaghrib today twitter Almaghrib Today Rss,almaghrib today rss  Almaghrib Today Youtube,almaghrib today youtube  Almaghrib Today Youtube,almaghrib today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

.almaghribtoday .almaghribtoday .almaghribtoday .almaghribtoday
almaghribtoday almaghribtoday almaghribtoday
almaghribtoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
almaghribtoday, Almaghribtoday, Almaghribtoday