EUR/USD 1.16777
-0.005%
Gold 4638.67
0.472%
Oil 85.154
-1.316%
USD/JPY 158.895
-0.063%
GBP/USD 1.36432
-0.025%
GBP/JPY 216.790
-0.087%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Q Technology (01478.HK): Gross profit for the first half of 2026 was approximately RMB 652 million, a slight decrease of 0.4% year-on-year.Q Technology (01478.HK): Revenue for the first half of 2026 was RMB 9.923 billion, representing a year-on-year increase of approximately 12.4%.August 24th - According to the Financial Times, British oil giant Shell (SHEL.N) is seeking to sell underperforming businesses, and its multi-billion dollar U.S. chemical assets have attracted potential bidders including ExxonMobil and LyondellBasell. Shells U.S. chemical plants produce a wide range of chemicals used in the plastics, detergents, and pharmaceutical industries. These assets include a massive chemical complex in Monaca, Pennsylvania, which began production in 2022, with Shell having invested $14 billion in capital. Sources familiar with the matter revealed that bidders including ExxonMobil, LyondellBasell, private equity group Apollo, and the chemical division of Kuwait Petroleum Corporation have all expressed interest in these assets. The total sale price for the assets could reach $8 billion, significantly lower than the amount of capital Shell has invested.On August 24th, major Hong Kong stock indices fluctuated and declined in the morning session, with the Hang Seng Tech Index once falling by more than 4%. By midday close, the Hang Seng Index was down 2.09%, and the Hang Seng Tech Index was down 3.84%. In terms of sectors and individual stocks, tech stocks generally suffered heavy losses in the morning session. Alibaba (09988.HK) fell nearly 10% in the morning session, Baidu (09888.HK) and Xiaomi Group (01810.HK) fell 4%, Tencent Holdings (00700.HK) fell nearly 3%, and Meituan (03690.HK) and JD.com (09618.HK) also declined. In addition, memory semiconductor, optical communication, and PCB concept stocks also performed poorly, with MINIMAX-W (00100.HK) falling more than 9% and Zhipu (02513.HK) falling more than 8%.According to the Financial Times, Shell (SHEL.N) has attracted interest from potential buyers for the sale of its U.S. chemical assets, a deal that could reach $8 billion. Shell has already attracted interest from potential bidders including ExxonMobil and LyondellBasell.

In a risk-on environment with a weaker US dollar, WTI consolidates weekly losses above $83,000

Alina Haynes

Sep 09, 2022 17:17

 153.png

 

The price of WTI crude oil is higher for the second day in a row while paring the weekly losses at the eight-month low on Friday during the Asian session. However, by the time of publication, the black gold has reached a new intraday high of around $83.50.

 

Recent news reports from the US Treasury Department regarding the oil price cap appear to have helped drive up energy prices together with stronger sentiment and a weaker US dollar. According to the US Treasury source, "the oil price cap should be set above the marginal production cost, taking into account past Russian oil prices."

 

In other news, stronger sentiment and slow US Treasury yields cause the US Dollar Index (DXY) to fall intraday by 0.55%, to 109.05 at the latest. It's interesting to see that after a solid day, the US 10-year Treasury yields are still stuck around 3.32%, while the S&P 500 Futures tracks Wall Street's gains at approximately 4,020.

 

Recent market sentiment appeared to be aided by remarks made by US Treasury Secretary Janet Yellen, which suggested that trade relations between the US and China were set to improve. The market's attitude also appeared to have been aided by recently stronger US statistics and expectations that global central bankers will be able to offset the shock caused by inflation with a comprehensive strategy and higher rates. The Wall Street Journal (WSJ) article, on the other hand, raises some concerns about the future of China's technological enterprises and casts some doubt on the optimism.

 

A price document examined by Reuters on Friday revealed that Kuwait has decreased the official selling prices for its oil grades for the month of October from the previous month. Before the present program ends in October, US Energy Secretary Jennifer Granholm said the administration of US President Joe Biden is considering whether additional releases of crude oil from the country's emergency stockpiles are necessary. Prior to that, a Department of Energy official reportedly told Reuters that the White House was only considering releasing the 180 million barrels from the US Strategic Petroleum Reserve (SPR) that the president had already stated.

 

It should be highlighted that the recent decline in China's inflation data, coupled with the hawkish central bank activities, presents a challenge to oil purchasers. Both China's Producer Price Index (PPI) and Consumer Price Index (CPI) show unfavorable results for August. However, compared to 2.8% market expectations and 2.7% in the prior year, the headline CPI declined to 2.5% YoY, and the PPI fell to 2.3% from 3.1% projected and 4.2% in the preceding year.


Suggestion