Oil Drops After Saudis Say Will Freeze Output Only If Iran Joins

Oil extended declines after Saudi Arabia’s deputy crown prince said the kingdom will only freeze output if Iran follows suit, putting in doubt the success of a proposed deal between major producers. Futures declined as much as 1.6 percent in New York after a 4 percent drop on Friday. Saudi Arabia’s Mohammed bin Salman signaled in a interview with Bloomberg that if any country raises output, his nation will also boost sales. With producers...

Yen Gains Has Top Forecasters Clashing With Others on Direction

The yen held gains from Friday as the currency’s best quarter since 2009 against the dollar fueled speculation the Bank of Japan may be running out of tools to weaken it. Japan’s currency appreciated 6.8 percent in the first quarter, signaling that three years of stimulus have been priced in. Julius Baer Group Ltd., Sumitomo Mitsui Banking Corp. and Australia & New Zealand Banking Group Ltd., the most accurate yen forecasters...

Asian Stocks Rise After U.S. Jobs Data; Japanese Shares Retreat

Asian stocks rose, following U.S. shares higher, as expectations for an immediate hike in U.S. interest rates remained low even after better-than-expected economic reports. The MSCI Asia Pacific Index climbed 0.4 percent to 126.49 as of 9:19 a.m. in Tokyo, after slumping last week by the most since Feb. 12. The Standard & Poor’s 500 Index rose to its 2016 high on Friday after data showed employment and wages picked up in March,...

Japan Stocks Fall for Fifth Day After Yen Climbs on U.S. Data

Japanese stocks fell for a fifth day after the yen strengthened against the dollar following a flurry of U.S. economic data that did little to change the view that the Federal Reserve will take a gradual approach to raising interest rates. The Topix index declined 0.5 percent to 1,295.14 as of 9:01 a.m. in Tokyo, adding to last week’s drop of 4.7 percent, its worst weekly performance in two months. The Nikkei 225 Stock Average slid 0.4 percent to 16,095.23. The yen traded at 111.70 per dollar after strengthening 0.8 percent...

Hong Kong Main Index Falls The Most in 5 Weeks After S&P Downgrade (review)

Hong Kong's benchmark index suffered its biggest one-day loss in five weeks on Friday, after rating agency Standard & Poor's downgraded its outlook for China and Hong Kong. The Hang Seng index fell 1.3 percent, to 20,498.92, its biggest one-day percentage loss since Feb. 25. For the week, the Hang Seng was up 0.8 percent. The China Enterprises Index lost 1.8 percent on Friday, to 8,842.86 points. For the week, it gained 1.6 percent. S&P ...