Asian markets rise as energy firms are boosted by oil surge Wed, 26 Sep 2018 06:36:37 +0200
Most Asian markets rose on Wednesday with energy firms surging with oil prices, while traders await the conclusion of a key Federal Reserve policy meeting.
Equity markets opened the week deep in the red on Tuesday after the Heritage Day public holiday on Monday.
Wall Street stocks have treaded water ahead of a Federal Reserve announcement this week that will update the market on the central bank's US economic outlook.
Analysts expect the US central bank to hike rates by 25 basis points from 2.00% to 2.25% on Wednesday afternoon.
Stocks have fallen across the globe as US tariffs on an additional $200bn of Chinese imports kicked in, clouding the global economic outlook.
Asian markets have mostly risen but investors remained on edge after the latest tit-for-tat tariffs in the China-US trade row.
Tokyo's benchmark stock index has risen to an eight-month high thanks to a weaker yen, while investors focused on Japan's upcoming trade talks with the United States.
The latest escalation in the US-China trade row has weighed on industrial stocks, pushing the Dow and S&P 500 lower.
Brent oil soared close to $81, reaching the highest level since November 2014 after OPEC and other global producers snubbed pressure from US President Donald Trump to dampen prices.
For all the attention afforded bitcoin, it is its rival ether that is hitting the headlines, with the popularity of its blockchain technology Ethereum driving concerns that have sent investors fleeing.
Global stock markets rose Friday as optimism on the US economic outlook outweighed lingering trade war worries, dealers said.
The JSE rallied to close firmer following the announcement of the economic stimulus plan by President Cyril Ramaphosa.
The rand initially firmed 0.65% to R14.19/$ following the release of President Cyril Ramaphosa's R50bn economic stimulus package, but subsequently weakened to trade at R14.36/$.
US stock benchmarks reached new highs on news from China about tariff and currency moves that could ease trade tensions. The dollar slid.
The rand started Friday off on the front foot as traders await President Cyril Ramaphosa's stimulus package.
Marijuana stocks have made gigantic gains as Canada prepares to legalise the drug, and billions of dollars have flowed into the sector as investors and companies start to evaluate the pot market.
The JSE has firmed along with other major global markets as focus shifted from the Sino-USA trade war.
Tokyo stocks have closed flat, with traders taking Prime Minister Shinzo Abe's widely expected victory in the party leadership election in their stride.
Europe's main stock markets have opened on a stable note, with London's benchmark FTSE 100 index virtually unchanged at 7 332.41 points.
Most Asian markets have risen but their recent rally lost its legs, though emerging market currencies held their own after Beijing's pledge not to weaponise the yuan.