Market Pulse - Asia
Historic rout in WTI futures amid fire sale ahead of expiry
US crude oil futures crashed at the start of the week with the price of West Texas Intermediate falling below zero for the first time ever.
Week ahead: EU leaders' summit, claimant count in focus
Europe's government debt markets will be in the spotlight over the coming week amid the recent rise in euro area periphery debt yields.
Research into Covid-19 antibody therapy gaining ground - report
Antibody therapy for Covid-19 may be available by the autumn, according to a report on biotechnology firms carrying out research.
JP Morgan stays at 'neutral' on Petrofac despite cancellation of Dalma contract
Analysts at JP Morgan stuck to their 'neutral' recommendation for shares of Petrofac, despite news that the Abu Dhabi National Oil Corporation had cancelled the $1. 5bn Engineering, Procurement and Construction for the Dalma Gas Development Project.
Alibaba to invest $28bn in cloud infrastructure
Alibaba Cloud announced on Monday it would be investing another $28bn into its infrastructure over the next three years as demand for video conferencing and live streaming services rise.
Asia report: Most markets lower as oil plunges, China cuts rates
Most markets in Asia finished lower on Monday, although stocks in China did end the day in the green, as Beijing once again took the secateurs to the country’s loan prime rates.
Asia report: Markets surge as China reports first quarterly GDP contraction
Markets in Asia finished in positive territory on Friday, with Japan’s benchmark surging, even as China recorded its first quarterly economic contraction since records began 28 years ago.
Gilead treatment has positive results on Covid-19 patients
An anitiviral medicine produced by Gilead Sciences of the US has had positive results on patients with extreme forms of Covid-19, raising hopes that a treatment for the disease could be close.
Asia report: Markets mixed, Australia beat expectations on jobs data
Markets in Asia finished mixed on Thursday, as investors continued to weigh the latest developments in the ongoing Covid-19 coronavirus pandemic, although fresh employment data in Australia did come in ahead of expectations.
Asia report: Markets mixed as investors digest disastrous IMF forecast
Markets in Asia closed mixed on Wednesday, as investors digested harrowing global forecasts from the International Monetary Fund released overnight, while traders in Korea remained off work as the country headed to the polls.
AstraZeneca surges on Covid-19 drug trial
AstraZeneca shares surged on Tuesday after the pharmaceuticals giant said it will start a clinical trial to assess the potential of Calquence (acalabrutinib) in the treatment of the exaggerated immune response associated with Covid-19 in severely ill patients.
UK likely to extend coronavirus lockdown as science experts meet
The government’s top scientific advisers are set to meet on Tuesday to review the effectiveness of the coronavirus lockdown even as ministers anticipate an extension.
Asia report: Shares rise on surprise China export data
Asian shares rose on Tuesday as better-than-expected trade data from China boosted sentiment across the region.
Week ahead: US/China data, OPEC+ in focus
The market spotlight over the coming will be on a slew of economic indicators in the US and China referring the months of March and April, and therefore the initial impact of the Covid-19 pandemic on those two economic powers, two of the world's largest.
Saudi and Russian Federation agree on oil output cuts, Journal says
Moscow and Riyadh have reached an agreement in principle to cut their crude oil output.
Asia report: Markets mixed as Bank of Korea stands pat on rates
Markets in Asia were mixed on Thursday, with Australian equities rocketing more than 3% as South Korea’s central bank stood pat on interest rates as anticipated.
Asia report: Markets mixed as investors digest latest pandemic developments
Markets in Asia finished in a mixed state on Wednesday, as investors tried to make sense of another day of fresh measures from governments amid the ongoing Covid-19 coronavirus pandemic.
Asia report: Most markets rise on hopes of virus slowdown
Most markets in Asia finished in positive territory on Tuesday, with stocks in China surging amid hopes the Covid-19 coronavirus pandemic could be slowing.
Japan to unveil stimulus package worth nearly 20 per cent of GDP
Japanese authorities unveiled plans at the start of the week to launch the country's biggest ever stimulus package in a bid to contain the economic fallout from the Covid-19 pandemic.
Asia report: Most markets higher amid hope for oil deal
Markets in Asia finished mostly higher on Monday, with stocks in Japan surging, as investors prepared to hold their breath for longer after a meeting of the OPEC nations and allies was delayed.