Oil Trades Near Six-Year Low as Global Oversupply Seen Prolonged

Oil traded near the lowest price in six years amid speculation the global glut that drove prices into a bear market will be prolonged. Futures were little changed in New York after slipping 1.5 percent Monday. While U.S. crude stockpiles are projected to decline for a fourth week through Aug. 14, inventories will remain more than 90 million barrels above the five-year average for this time of the year. OPEC can do little to halt the price...

Gold Holds Advance as Investors Parse Data for Outlook on Rates

Gold held the first gain in three days after a manufacturing gauge in the New York area slumped, clouding the outlook for the timing of higher U.S. interest rates. Bullion for immediate delivery traded little changed at $1,117.94 an ounce at 8:54 a.m. in Singapore from $1,117.70 on Monday, when prices climbed 0.2 percent, according to Bloomberg generic pricing. Prices rose last week for the first time since June after China devalued the...

Most Chinese Stocks Decline After Index Rises to Three-Week High

Most Chinese stocks fell after the benchmark index advanced to the highest level in more than three weeks. The Shanghai Composite Index slid 0.4 percent to 3,978.88 at 9:43 a.m. local time. About two stocks dropped for every one that rose. The gauge closed at the highest since July 24 on Monday. The CSI 300 Index added 0.3 percent, led by health-care companies. Hong Kong’s Hang Seng China Enterprises Index advanced 0.5 percent. Source :...

Most Asian Stocks Rise After U.S. Shares Gain on Housing Data

Most Asian stocks advanced, with the regional benchmark index holding near a seven-month low, following gains in U.S. equities as strong homebuilder data added to signs the world’s biggest economy is improving. The MSCI Asia-Pacific Index fell 0.1 percent to 137.73 as of 9:05 a.m. in Tokyo with about three stocks gaining for every two that fell. The Standard & Poor’s 500 climbed climbed 0.5 percent on Monday, reversing earlier losses,...

Most Japanese Stocks Rise After U.S. Gains as Shippers Advance

Most Japanese stocks rose, tracking gains in U.S. equities, as shipping lines and insurers advanced. The Topix traded little changed at 1,672.76 at 9:08 a.m. in Tokyo, with about nine shares climbing for every seven that fell. The Nikkei 225 Stock Average increased less than 0.1 percent to 20,626.57. The Standard & Poor’s 500 Index added 0.5 percent in New York on Monday, reversing losses as data showed confidence among homebuilders...