Aust Dollar Treads Water Before RBA

The Australian dollar is treading water as markets await the Reserve Bank’s board meeting, where interest rates are expected to remain on hold. At 7.00am (AEDT) on Tuesday, the local unit was trading at US71.37c, down fractionally from US71.38c on Monday. Nomura rate strategist Andrew Ticehurst says the RBA will be reluctant to use up some of its remaining “ammunition”.  “The RBA is uncertain that a rate cut could actually achieve...

Oil Rises to Seven-Week High as Saudis to Work With Producers

Crude closed at the highest in seven weeks as Saudi Arabia said it would work with other producers to curb market fluctuations and China’s central bank stepped up efforts to support the economy. West Texas Intermediate oil increased 3 percent. Saudi Arabia wants a stable oil market, according to state-run Saudi Press Agency. China reduced the amount of cash the nation’s lenders must lock away. The Organization of Petroleum Exporting...

Hong Kong Shares Fall More Than 1 pct, Track Mainland Stocks (Riview)

Hong Kong shares fell more than 1 percent on Monday, with sentiment soured by a tumble in mainland stocks.The Hang Seng Index dropped 1.3 percent, to 19,111.93, while the China Enterprises Index lost 1.5 percent, to 7,916.34 points.China stocks slumped more than 2 percent, closing at their lowest in a month, as investors sold on fears that rising real estate prices will cannibalise funds from shares, aggravated by disappointing earnings from ...

S&P 500 Falls for a Third Month as Late-February Rebound Fades

The Standard & Poor’s 500 Index erased a February gain Monday, despite a rally in crude oil, as a two-week rebound faltered in the month’s lightly traded final session. The S&P 500 fell 0.8 percent to 1,932.03 at 4 p.m. in New York, extending its monthly losing streak to three, the longest in more than four years. It closed 0.4 percent lower for February. Afternoon declines accelerated as the gauge fell below its average price...

U.S. Stocks Advance Toward Monthly Gain After Two-Week Rebound

U.S. stocks advanced in February’s final session, showing some stability along with crude prices and poised for a monthly gain after a two-week rebound from the worst start to a year ever. After fluctuating in early trading, equities extended a climb as oil rallied, with West Texas Intermediate crude up 2.8 percent. Even with the commodity rising, gains in energy producers were muted while raw-material and utilities...