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Geopolitical tensions, trade disputes, global macro-economic concerns, and OPEC+ production strategy were themes that dominated oil market sentiment in 2019.
NEW YORK: Gold surged past $1,500 an ounce and a gauge of global equity markets hovered near record highs on Tuesday in a year-end rally spurred by hopes of a U.S.-Sino Phase 1 trade deal and as China's latest policy easing pledge added to investor optimism.
IMAGINE having to pay RM150 for a seat at your local cinema, or even RM120. As it is seldom that you would watch a movie alone, be prepared to fork out RM240 to RM300 for a movie with your loved ones – girlfriends, wives or anyone you consider worthy of spending two intimate hours with at the Aurum Theatre in The Gardens Mall, next to Mid Valley Megamall.
KUALA LUMPUR: There was some profit-taking activity on Bursa Malaysia on Tuesday following the sharp gains made in the closing minutes of the previous trading session.
THE influx of cheap electrical items, spurred by the boom in e-commerce, is dampening the sales of manufacturers based in Malaysia.THE influx of cheap electrical items, spurred by the boom in e-commerce, is dampening the sales of manufacturers based in Malaysia.
BERLIN: Tucked between rapeseed fields and wooded hills in the Austrian countryside sits one of the remaining outposts of a frantic push by the German car industry into a pricey alternative to steel.
SINGAPORE: Southeast Asia could become a net importer of fossil fuels in the next few years, raising the financial burden on governments and increasing carbon emissions in the region, the International Energy Agency (IEA) warned in a report.
MUMBAI: Gold sales on the most auspicious day in India to buy the metal tumbled this year as high prices and concerns about an economic slowdown saw customers limit purchases
MUMBAI: Gold sales on the most auspicious day in India to buy the metal tumbled this year as high prices and concerns about an economic slowdown saw customers limit purchases.
TOKYO: Global stocks barely moved on Thursday as soft U.S. retail sales data raised concerns about the health of the world's largest economy and risk of global recession, while sterling was volatile as negotiations on a Brexit deal continued. Both MSCI's broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> and Japan's Nikkei <.N225> were little changed in early trade while U.S. stock futures lost 0.15%. The S&P 500 <.SPX> shed 0.20% the previous day after data showed U.S. retail sales contracted in September for the first time in seven months, in a potential sign that manufacturing-led weakness could be spreading to the broader economy. "It looks like the trade war has claimed yet another victim, in addition to diminished business confidence and reduced investment spending, as consumers are starting to chicken out, " said Chris Rupkey, chief financial economist at MUFG Union Bank.Given U.S. consumption has been one of few remaining bright spots in the global economy, the data fanned worries about a global recession.U.S. Treasury Secretary Steven Mnuchin said on Wednesday that U.S. and Chinese trade negotiators were working on nailing down a Phase 1 trade deal text for their presidents to sign next month.But he also said there were no plans for another high-level meeting on the trade deal outlined last week."While the U.S. suspended a hike in tariffs, it hasn't gone as far as scrapping the tariffs altogether, so it is hard to expect a quick pick-up in the economy, " said Yoshinori Shigemi, global market strategist at JPMorgan Asset Management.Losses in equities were offset by a solid start to the earnings season, though that is partly because investors have already marked down their expectations substantially, with earnings for S&P 500 companies expected to show a decline of 3% for the quarter, according to Refinitiv data.Bank of America shares rose 2.0% following its quarterly results. Netflix rose 9.9% in after-hours trade after its earnings beat Wall Street estimates.In the currency market, soft U.S. retail sales took the shine out of the dollar.The dollar index <=USD> fell 0.30% on Wednesday and last stood at 97.964, having touched its lowest since Aug. 27. Against the yen the dollar slipped to 108.73 yen, after peaking at 108.90 on Tuesday.The euro stood at $1.1075, up 0.04% so far in Asia, near a one-month high of $1.1085 hit in U.S. trade on Wednesday.Sterling traded at $1.2823, having risen to as high as $1.2877 on Wednesday, its loftiest level since mid-May.It has risen more than 5% in the past five sessions on the prospect that the United Kingdom and the European Union can strike a fresh deal to avoid a no-deal exit in the summit on Thursday and Friday.Investors have welcomed optimistic comments from key officials during last few days. British culture minister Nicky Morgan said late on Wednesday there is a good chance of a deal.Still, many doubts remained, not the least of which is if British Prime Minister Boris Johnson can ensure his government and factious parliament approve the plan.In one sign of investor caution, in currency option markets, risk reversal spreads in sterling turned in favour of pound puts after briefly favouring pound calls earlier this week, meaning demand to protect the currency's downside is stronger than that for the upside.The Turkish lira steadied off seven-week lows as U.S. President Donald Trump's sanctions for Turkey's military incursion into Syria were perceived to be lighter than expected.Lira bears also suffered a flashback of their suffocating March squeeze as the authorities moved to keep a lid on volatility by restricting the supply of lira to overseas counterparts.The lira stood at 5.8825 per dollar Oil prices eased after U.S. data showed a larger-than-expected build in U.S. crude stocks.Brent crude futures fell 0.82% to $58.93 a barrel while U.S. West Texas Intermediate (WTI) crude lost 1.01% to $52.82 per barrel.