Business & Finance News
Asian share markets firmed on Monday as signs of progress in the Sino-U.S. trade standoff whetted risk appetites, though investors remained wary of the damage already done to the global economy.
Oil prices eased on Monday as scant details on the first phase of a trade deal between the United States and China undercut last week’s optimism over the thaw that helped to lift crude markets by 2%.
China’s pork imports in September surged 76% from a year earlier while beef imports came close to a monthly record, as it stocked up on proteins after disease decimated its huge hog herd, customs data showed on Monday.
China’s crude oil imports in September rose 10.8% from a year earlier as refiners ramped up output amid stable profit margins and solid fuel demand.
China’s soybean imports in September fell 13.5% from the previous month, customs data showed on Monday, as an epidemic of African swine fever that has slashed China’s pig herd reduced demand for soymeal.
China’s exports fell at a faster pace in September while imports contracted for a fifth straight month, pointing to further weakness in the economy and underlining the need for more stimulus as the Sino-U.S. trade war drags on.
China’s copper imports in September rose 10.15% from a month earlier to 445,000 tonnes, the highest level in eight months, data from the General Administration of Customs showed on Monday.
China’s iron ore imports rose for a third straight month in September to a 20-month high, according to customs data released on Monday, fueled by firm demand at steel mills and stable shipments from big miners.
China’s rare earth exports in September fell 17.9% from August, customs data showed on Monday, amid lingering fears that the world’s top producer of the minerals will restrict supply because of its trade row with the United States.
Asian share markets firmed on Monday as signs of progress in the Sino-U.S. trade standoff whetted risk appetite, though investors were wary of the damage already done to the global economy.
Years after resisting pressure to move to China, Lee Hung Lung says his bet has paid off. Sales at his Malaysia-based Hotayi Electronic are surging, it’s hiring more workers, considering an expansion, and picking and choosing orders.
ConocoPhillips has agreed to sell its northern Australian business to partner Santos Ltd for $1.39 billion, in a deal that will hike the Australian group’s output by 25% and boost its position in the global gas market.
SoftBank Group Corp. has prepared a financing package for WeWork Companies Inc that would give it control over the shared office space company, a person familiar with the matter said.
Asian share markets pushed higher on Monday as signs of progress in the Sino-U.S. trade standoff whetted risk appetites, while pressuring safe-haven bonds and the yen.
Oil prices were little changed on Monday, holding onto 2% gains from Friday amid renewed geopolitical tensions in the Middle East, while a detente in the U.S.-China trade war buoyed market sentiment.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
