| HY Markets Official blog

August 2013

Asian Stocks In Green On Surging Crude

Major Asian stocks  were seen climbing on Thursday, as investors scaled back the massive sell-offs following the recent chaos in the markets. The geopolitical turmoil in the Middle East, especially in Syria and Egypt added more speculations to the tapering of the US central bank’s bond-buying program, which resulted to a massive sell-off.

On Thursday, the market’s rebound was driven by the advance in crude oil prices, with the North American WTI reaching the $110-level for the first time in over two weeks, as investors’ worries over the possible military intervention in Syria. Read more

Crude Prices Ends Two-Day Surge

Crude prices took a break on Thursday, as it ended it two-day surge with WTI dropping below the $110 threshold and Brent ending its strongest two-day rise by falling under $116 a barrel. While investors are still focused on the heated oil markets and new developments regarding Syria. US inventories were seen climbing for the first time in four weeks.

October deliveries for the North American WTI fell 1.11% to $108.86 a barrel on New York’s Nymex at the time of writing, while the European benchmark Brent crude retreated 1.15% to $115.28 a barrel at the same time. Read more

Asian Equities Dragged Lower

The geopolitical fears in the Middle East dragged Asian equities lower for the second day in a row, as investors’ fears over the possibility of a military intervention in Syria. An air missile strike against the country is expected to come as soon as Thursday, security analysts warned.

Analysts warned that the ongoing conflict and development in shares could be a risk to the global market, with possible bigger trembles in the global market yet to come.. Read more

European Futures Dragged Down By Syrian Conflict

European Futures was seen extending losses, while the ongoing Syrian conflict builds up as international players including the US, France and the United Kingdom hinted they are considering military intervention on suspicion that the chemical weapons may have been used against civilians by the Syrian government. Security analysts warned that the US missile strike against the country is expected to come as soon as Thursday.

Futures of the European Euro Stoxx 50 rose 0.33% at 2,743.50, while the German DAX gained 0.29% to 8,229.80. While futures of the French CAC 40 added 0.27% to 3,960.50 and the UK FTSE 100 futures advanced 0.30% to 6,408.30. Read more

Asian Stocks Mixed On Firm Yen

Asian stocks closed mixed on Tuesday, with stocks dragged down by the yen firming on the ongoing heated tension in Syria, after the US hinted a possible need for military action against the country’s government over the alleged use of chemical weapons in their attacks. The Chinese mainland Shanghai composite closed higher with the help of the industry data released and the Shanghai free-trade zone news.

Equities in Asia followed Monday’s gains on Wall Street as stocks were seen trading higher, which were followed by losses after the US Secretary of State hinted a possible military intervention against the Syrian government over the alleged chemical weapons attack. Read more