Chinese Stocks, Yuan Primed for Gains on Return From Holidays
Chinese markets look poised for a positive open when traders return from a holiday, with Beijing’s supportive policy stance adding impetus to a budding bullish momentum.
Chinese markets look poised for a positive open when traders return from a holiday, with Beijing’s supportive policy stance adding impetus to a budding bullish momentum.
Oil rose after the biggest weekly drop since February after OPEC+ kingpin Saudi Arabia hiked selling prices for grades to Asia for the third month in a row, signaling confidence in the outlook as the cartel cuts supply.
Asian equity markets are eyeing a strong open as China returns from a three-day holiday and Friday’s softer-than-expected US jobs report revive bets the Federal Reserve will cut rates this year.
UK Prime Minister Rishi Sunak is facing calls from Conservative lawmakers to adopt an immigration cap, as he comes under pressure to move his party further to the right after it was routed in last week’s local elections.
One of China’s most indebted developers is facing two bond-payment deadlines this week that could provide the first major test for a state-sponsored program that guarantees debt from some of the country’s biggest builders.
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