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Shanghai Auntie (02589.HK) fell 11.5%, with its share price at HK$127.8 and its issue price at HK$113.12.May 12, preliminary data released by the Ministry of Finance of Japan on Monday showed that in April, proxy investment institutions of Japanese pension funds bought a record number of foreign stocks: the net amount of foreign stocks purchased through bank trust accounts reached 2.76 trillion yen (about 18.9 billion US dollars). Affected by the intensification of trade tensions, the MSCI global market index fell more than 7% in the first week of April. The yen, as a safe-haven asset, appreciated significantly during this period. Jumpei Tanaka, head of investment strategy at Swiss Pictet Asset Management, said that the stock market fell sharply in April and the yen exchange rate rose, and many investors saw this as an opportunity to buy on dips. Another set of data showed that in March this year, Japanese investors bought a net 2.12 trillion yen of U.S. stocks, setting a record high since comparable data was available in 2005. The S&P 500 fell 6.1% in yen that month, the biggest drop since December 2022.Japanese Chief Cabinet Secretary Yoshimasa Hayashi: Welcomes the ceasefire between India and Pakistan.Hong Kong-listed auto stocks continued to rise, with Xpeng Motors (09868.HK) rising more than 5%, NIO (09866.HK) rising 4.4%, and Li Auto (02015.HK) rising more than 2%.According to the European-Mediterranean Seismological Center, a 5.5-magnitude earthquake occurred in Sucre, northern Venezuela, at 20:41 local time on May 11, with a focal depth of 26 kilometers. No casualties or property losses have been reported so far.

Oil decreases due to demand concerns and increased supply

Haiden Holmes

Aug 11, 2022 11:14


Thursday morning Asian trade saw a dip in oil prices as traders anticipated an increase in oil production and a decrease in demand.


Brent oil prices fell 53 cents, or 0.5%, to $96.87 a barrel by 00:05 GMT, while U.S. West Texas Intermediate crude futures fell 61 cents, or 0.7%, to $91.32.


The U.S. Energy Information Administration stated that crude oil stockpiles rose by 5.5 million barrels in the most recent week, above the forecasted increase of 73,000 barrels.


The gasoline product supply grew to 9.1 million barrels per day in the most recent week, despite a 6% reduction in demand over the previous four weeks compared to the same time in the previous year.


Flows on the Russia-to-Europe Druzhba pipeline resumed earlier this week.


The Russian oil pipeline monopoly Transneft has restarted oil transport along the southern portion of the Druzhba oil pipeline. Since the start of this month, Ukraine has restricted Russian oil pipeline exports to parts of central Europe because Western sanctions prevented it from receiving transit payments from Moscow, Transneft said on Tuesday.


Later on Wednesday, the International Energy Agency (IEA) and the Organization of the Petroleum Exporting Countries (OPEC) will announce their respective monthly oil statistics.

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