Brent Crude Falls as Ukraine Elects President; WTI Declines

---

Brent crude fell amid speculation Ukraine��s election of a new president may help ease months of tension with Russia, the world��s biggest energy exporter. West Texas Intermediate slid in New York.

Futures dropped as much 0.5 percent in London. Ukrainians voted billionaire Petro Poroshenko as president yesterday, handing him the task of stemming separatist unrest in the country, a conduit for Russian oil and natural gas supplies to Europe. China, the second-largest oil consumer globally, announced plans to slow the pace of energy demand.

Brent for July settlement declined as much as 59 cents to $109.95 a barrel on the London-based ICE Futures Europe exchange and was at $110.09 at 12:02 p.m. Singapore time. The contract gained 18 cents to $110.54 on May 23. The volume of all futures traded was about 3 percent below the 100-day average. Prices have lost 0.7 percent this year.

WTI for July delivery decreased as much as 32 cents, or 0.3 percent, to $104.03 a barrel in electronic trading on the New York Mercantile Exchange. The U.S. benchmark crude traded at a discount of $6.025 to Brent. The spread closed at $6.19 on May 23, the narrowest in five weeks.

There will be no floor trading in New York today because of the U.S. Memorial Day holiday and transactions will be booked tomorrow for settlement purposes.

Copy Source: Bloomberg

China Stocks Climb on Policy Support Speculation; Carmakers Jump

---

China stocks rose, sending the benchmark index to the highest level in almost two weeks, amid speculation policy makers will take further steps to bolster economic growth.

The Shanghai Composite Index climbed 0.4 percent to 2,042.52 as of 10:08 a.m. local time after Premier Li Keqiang said the nation will fine-tune policy to support the economy. SAIC Motor Corp. and Avic Aircraft Co. paced gains among transportation companies after President Xi Jinping urged development of new energy vehicles and said the nation should invest more to develop airliners.

Copy Source: Bloomberg

Hong Kong Stocks Advance After Capping Back-to-Back Weekly Gains

---

Hong Kong stocks rose, after the city benchmark index capped two straight weekly gains, as energy and technology companies led the advance.

The Hang Seng Index added 0.2 percent to 23,019.37 as of 9:31 a.m. in Hong Kong, heading for its highest close since April 14. The Hang Seng China Enterprises Index increased 0.4 percent to 10,160.25. The gauge of mainland companies traded in the city climbed 1.7 percent last week, extending its rebound from a May 7 low to 4.8 percent, as investors weighed prospects for China��s policy makers to support growth with more stimulus.

The Standard & Poors 500 Index climbed to a record at the end of last week, closing above 1,900 for the first time, as a report showed purchases of new homes climbed in April. The U.S. and U.K. equity markets are closed for holidays today.

Copy Source: Bloomberg

Japans Topix Heads for Seven-Week High on Yen, U.S. Optimism

---

Japans Topix index headed for a seven-week high as the yen held declines and U.S. stocks climbed to a record after new home sales data buoyed optimism about the world��s largest economy.

Electrical-appliance exporters provided the biggest boost to the Topix. Nikon Corp. climbed the most on the Nikkei 225 Stock Average after the camera maker��s equity rating was raised at Credit Suisse Group AG. Sony Corp. gained 3.6 percent after saying it has formed a joint venture to make and sell game consoles in China. Dainippon Sumitomo Pharma Co. was untraded and poised to fall after saying it was ending a drug trial.

The Topix climbed 0.8 percent to 1,190.13 as of 12:41 p.m. in Tokyo, poised for its highest close since April 7. All but four of the 33 industry groups advanced, with volume about in line with the 30-day intraday average. The measure gained 1.8 percent last week. The Nikkei 225 added 0.5 percent today to 14,539.70. The yen gained less than 0.1 percent to 101.89 per dollar after falling 0.2 percent on May 23.

Copy Source: Bloomberg