HONG KONG : Asian shares dropped on Wednesday, reversing early gains, after an overnight rebound in U.S. and European stocks as investors shrugged off worries about a potential U.S. government debt default, while oil paused near new multi-year highs.
"OPEC’s outlook suggests further reductions in global oil stockpiles. That’s a problem given that oil inventories are already low," wrote analysts at CBA in a note. Traders say markets are jittery due to worries about China's real estate market as well as approaching higher interest rates around the world.U.S. stock futures, the S&P 500 e-minis shed 0.44per cent.
Elsewhere, New Zealand's central bank raised interest rates by 25 basis points but reaction was muted as the move to increase the cash rate to 0.50per cent was widely expected. The Senate will vote on Wednesday on a Democratic-backed measure to suspend the U.S. debt ceiling, a key lawmaker said on Tuesday, as partisan brinkmanship in Congress risks an economically crippling federal credit default.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Asian stocks fall to near 1-year low as oil prices stoke inflation worriesSINGAPORE : Asian shares suffered heavy losses early on Tuesday following a broad sell-off on Wall Street, as markets fretted about the impact of multi-year high oil prices at a time when supply chain disruptions are already putting pressure on economic activity.MSCI's broadest index of Asia-Pacific share
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Asian Tour resumes next month, S'pore to host two eventsGolf's Asian Tour resumes next month after a lengthy coronavirus hiatus, with four tournaments planned in Thailand and Singapore in the coming months, organisers said yesterday. The Tour was halted following the Malaysia Open in March last year as Covid-19 prompted...
Source: thenewpaper - 🏆 7. / 63 Read more »
Asian shares slip as Evergrande, inflation worries sap positive moodTOKYO : Asian shares dipped on Monday as concerns about China's property sector and inflation worries offset upbeat U.S. data and positive news on new drugs to fight the coronavirus.Trading in shares of debt-laden China Evergrande was suspended after it missed a key interest payment on its offshore debt o A incorporadora Hopson Development, listada em Hong Kong, planeja adquirir cerca de 51% da Evergrande Real Estate com mais de HK $ 40 bilhões - Cailian Press cita fontes. Sino_Market
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Oil prices edge lower in wake of jump on OPEC+ supply restraintTOKYO : Oil prices eased on Tuesday after climbing to their highest levels in years in the previous session on the decision by OPEC and allied major oil producers to maintain restraint on supply.Brent crude was down by 3 cents at US$81.83 a barrel by 0054 GMT, having rising 2.5per cent on Monday. U.S. Wes
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
WhatsApp outage hits trading in assets from crypto to Russian oilLONDON/MOSCOW : WhatsApp's nearly six-hour long outage on Monday hit trading of assets from cryptocurrencies to Russian oil, market players said, although a quick shift to alternative platforms such as Telegram limited severe disruption.Despite many financial institutions discouraging employees from using
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
California rushes to contain oil spill as wildlife, beaches hitLOS ANGELES: A huge oil spill was killing wildlife and threatening California\u0027s beaches on Monday (Oct 4), in what officials said amounted to an \u0022environmental catastrophe\u0022. Dead birds and fish had begun washing up on the shore as a 126,000-gallon slick of crude oil choked waters south of Los Angeles,
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »