Business Recorder

Oil eyes weekly drop on Hormuz deal hopes; AI sends stocks to record highs

SINGAPORE: World stocks stood at record highs on Friday and oil futures eyed the steepest weekly drop for nearly two months as traders waited for details on a potential deal to reopen the Strait of Hormuz and extend the US-Iran ceasefire. Sources …

#Oil #Hormuz #AI #StockMarket

Business Recorder

Dollar heads for weekly loss on reports of US-Iran ceasefire deal

HONG KONG: The dollar extended its weakness against major currencies on Friday and was on track to end the week lower, after reports the US and Iran reached an agreement to extend the ceasefire in the Middle East and lift restrictions on shipping …

#Dollar #USA #Iran

Business Recorder

Australia and NZ dollars get risk reprieve, kiwi gets added rate boost

SYDNEY: The Australian and New Zealand dollars got a reprieve from selling pressure on Friday as reports of a possible ceasefire extension in the Middle East slugged oil prices and boosted risk assets globally. Investors were particularly encourag…

#Australia #NewZealand #Dollar

Business Recorder

Australian shares climb with miners, gold stocks leading gains

Australian shares advanced on Friday, led by miners and gold stocks, as investors kept a watch on the Middle East conflict, following reports that the US and Iran had reached an agreement to extend the ceasefire. The S&P/ASX 200 index rose 0.8% to…

#AustralianShares #Gold

Business Recorder

Saudi Arabia may lower July oil prices to Asia as demand weakens

SINGAPORE: Saudi Arabia is likely to cut its official selling prices (OSPs) for crude oil to Asia in July for a second month, a Reuters survey showed, as spot premiums eased on sluggish demand despite supply disruptions stemming from tensions in t…

#SaudiArabia #OilPrices #Asia

Business Recorder

India bonds likely to rise on lower oil, but debt supply tempers optimism

MUMBAI: Indian government bonds are likely to rise in early deals on Friday, tracking a decline in oil prices, although any major gains seem unlikely until the weekly debt auction. The benchmark 6.48% 2035 note is expected to trade in the 6.96% to…

#India #Oil #Debt

Business Recorder

Japan’s Nikkei climbs toward record high on Mideast, AI optimism

TOKYO: Japan’s Nikkei share average rose toward a record on Friday, powered by renewed optimism for a near-term peace deal in the Middle East and enthusiasm about AI shares after strong earnings from Dell Technologies. The Nikkei climbed as much a…

#Japan #Nikkei #MiddleEast #AI

Business Recorder

Indian rupee likely to contend with outflows even as US-Iran ceasefire reports give oil relief

MUMBAI: The Indian rupee could find marginal breathing room on Friday on reports that the US and Iran have agreed to extend a ceasefire, while traders will be wary of latching onto momentum as multiple reports in recent memory have led to no resol…

#IndianRupee #USA #Iran #Oil

Business Recorder

IT leads Indian shares higher after Wipro’s AI deal

Indian shares edged higher on Friday as gains in IT stocks after Wipro expanded an artificial intelligence partnership offset caution over lingering Middle East tensions. The benchmark Nifty 50 rose 0.13% to 23,935.45, and the BSE Sensex added 0.2…

#India #Wipro #IT

Business Recorder

China stocks mixed as semiconductors drag, Lenovo helps Hong Kong rebound

HONG KONG: China stocks struggled for direction on Friday as investors booked some profits from hot semiconductors sectors, while Lenovo Group helped Hong Kong shares rise for the first time in four sessions. China’s blue-chip CSI300 Index was lar…

#China #HongKong #StockMarket