Shares in Asia fell as a jump in global oil prices emboldened the higher-for-longer rates narrative, sapping risk sentiment as some markets in the region prepare for a holiday.
US benchmark oil hit $95 a barrel for the first time in more than a year after a drop in stockpiles at the nation’s major storage hub to critical levels highlighted a widening global deficit.
Moments after Republican candidates traded barbs on how best to limit China’s influence in the US, the commercial break featured an ad from TikTok, owned by Chinese company Bytedance Ltd.
Chinese banks’ earnings may fall as much as 10% in 2024 if their bad debt ratios continue to rise on defaulting developers, according to JPMorgan Chase & Co. analysts.
If political turmoil and social unrest were the hot topics at Peru’s top mining event last year, this year it’s red tape.
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