An electronic board displaying the Tokyo stock index at a securities office in Tokyo, Japan. Picture: EPA/KIMIMASA MAYAMA
Chinese stocks extended losses on concerns that Beijing will slow the pace of further policy easing after unexpectedly strong first-quarter economic data last week. Shares in Shanghai slid 0.4% after policymakers vowed to fine-tune monetary policy, ensuring it is “neither too tight, nor too loose”. “We’ve had a fantastic run in Chinese equities year-to-date, some profit taking is completely normal. I don’t think China is changing its policy that quickly,” he said.
International benchmark Brent crude soared 2.9% to settle at $74.04 a barrel on Monday and US West Texas Intermediate crude jumped 2.7% to settle at $65.70. Both indexes climbed to nearly six-month highs during the session. Despite recent gains in oil prices, many investors still expect inflation to be well-contained in major economies including the US, allowing the Federal Reserve to keep a dovish stance.
In the currency market, the dollar index, which measures the greenback against six major currencies, eased 0.2% overnight and last traded steady at 97.303. The index hit a two-week high of 97.485 on Thursday, before the start of the Easter weekend.
Each time the US clash with the oil producing countries, oil prices just skyrocket. As for us we must expect an increase in fuel price by next week. Its inevitable
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: SABC News Online - 🏆 32. / 51 Read more »