Aust dollar extends post-GDP rally

The Australian dollar has become the best performing currency overnight and is now targeting US73c after surprisingly positive growth data. At 7.00am (AEDT) on Thursday, the local unit was trading at US72.96c, up from US72.40c on Wednesday. Wednesday’s gross domestic product figures showed that the economy expanded 3.0 per cent through 2015. This allayed fears that the slowdown in China would wreak havoc on the local economy, BK Asset...

Oil Ends at Two-Month High as Refineries Boost Crude Use

Oil ended at the highest level in almost two months in New York after a government report showed U.S. refineries boosted their use of crude. West Texas Intermediate futures rose for a third day after the Energy Information Administration said fuel plants processed 16 million barrels a day of crude last week, the highest level for this time of year in data going back to 1989. Gasoline inventories fell by 1.47 million barrels. Crude ...

Hong Kong Shares Hit 7-Week High on Global, Mainland China Market Strength (Riview)

Hong Kong stocks jumped over 3 percent on Wednesday to their highest level in seven weeks, with investor sentiment lifted by strength in global markets as well as a more than 4 percent jump in mainland China shares. The Hang Seng index rose 3.1 percent to 20,003.49 points, while the China Enterprises Index gained 3.8 percent to 8,374.09 points. All main sectors rose, with energy and resources sectors among the biggest gainers, jumping...

U.S. Stocks Add to 8-Week Highs as Banks, Energy Continue Rally

U.S. stocks advanced, extending their eight-week highs with banks and energy shares rallying for a second day as improving data bolstered optimism on the economy. The Standard & Poor’s 500 Index rose 0.4 percent to 1,986.36 at 4 p.m. in New York, holding at the highest since Jan. 6. The gauge surged 2.4 percent yesterday, the most in more than a month. The Russell 2000 Index jumped 1.1 percent. A report today showed companies...

U.S. Stocks Fluctuate Following Jobs Report as Crude Recovers

U.S. stocks fluctuated following a rebound in crude prices and energy shares. Treasuries slid while the dollar strengthened, after a jobs report bolstered speculation that the Federal Reserve will raise interest rates this year. The Standard & Poor’s 500 Index retreated 0.1 percent after the benchmark rallied yesterday. Oil traded near its highest close in eight weeks after data showed U.S. refineries boosted their use of crude and...