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February 5th - According to the latest report from CIMBs Treasury and Markets Research Department, the Singapore dollar weakened slightly against the US dollar during Thursdays Asian trading session as markets anticipated a possible pause in interest rate cuts by the Federal Reserve. Federal Reserve Governor Cook recently expressed caution regarding inflation, and several other Fed officials share similar concerns. Analysts indicate that unless inflation slows further and no major negative surprises occur in the labor market, the Feds policy rate is expected to remain unchanged for some time.Sony (SONY.N) has increased the maximum amount of its share buyback program from 100 billion yen to 150 billion yen.European stock index futures fell, with the Euro Stoxx 50 futures down 0.3%, the German DAX futures down 0.3%, and the UK FTSE 100 futures down 0.2%.Tencent Holdings (00700.HK) has been declining for several days and is currently down more than 3%.February 5th - According to the National Medical Products Administration (NMPA), 50 batches of cosmetics were found to be non-compliant during the 2025 national cosmetics sampling inspection. The NMPA, in accordance with the "Regulations on the Supervision and Administration of Cosmetics," the "Measures for the Supervision and Administration of Cosmetics Production and Operation," and the "Measures for the Administration of Cosmetics Sampling Inspection," has instructed the drug regulatory authorities of Zhejiang, Guangdong, and Qinghai provinces to initiate investigations into the registrants, filers, and contract manufacturers involved in the aforementioned non-compliant cosmetics, and to order the relevant companies to take risk control measures and conduct self-inspections and rectifications in accordance with the law.

Oil prices fall owing to rising U.S. stocks and weaker demand

Skylar Williams

Jul 13, 2022 11:03

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Oil prices dipped in early Asian trade on Wednesday with the release of U.S. inventory data indicating a rise in crude oil and refined products, amid rising fears of a global economic slowdown.


Brent oil futures shed 68 cents, or 0.7 percent , to $98.81 a barrel at 0002 GMT. The price of U.S. West Texas Intermediate crude oil dropped 72 cents, or 0.8 percent, to $95.12 a barrel, which is also the lowest level in three months.


Concerned that aggressive interest rate increases to battle inflation may precipitate a recession, which will severely influence oil consumption, investors have sold their oil holdings. Due to volatile trading, prices dropped by more than 7 percent in the previous session.


China's renewed COVID-19 travel restrictions had an effect on the market. Multiple cities in the world's second-largest economy have enacted further restrictions, ranging from firm closures to wider lockdowns, to prevent the spread of a highly dangerous virus strain.


During the week ending July 8, crude oil stocks climbed by around 4.8 million barrels in the United States. According to market sources citing data issued by the American Petroleum Institute on Tuesday, gasoline supplies grew by 3 million barrels, while distillate stockpiles increased by 3,3 million barrels.


The dollar index, which compares the dollar to a basket of six other currencies, reached its highest level since October 2002 on Tuesday, reaching 108.56.


Since oil is frequently priced in U.S. dollars, a stronger dollar makes the commodity more expensive for foreign currency holders. During times of market volatility, the dollar is often viewed as a safe haven by investors.


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