January 28, 2023

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Towards a red start in the Oslo stock exchange after Putin’s move

Immediately after that at 07.30, according to trading platform IG, futures showed Oslo Poor’s down 0.2 percent from the start.

Roger Berntsen at Nordnet thinks Oslo Bors will open flat today, or within the interval[-02,02percent[-0202prosent][-02،02فيالمائة[-0202prosent

Asia

On Tuesday, news came that quarantine requirements for travelers to China had been lifted, and that from January 8, travelers will only need a negative PCR test to enter the country. The news gave a boost to both Asian stock markets and oil prices on Tuesday. Wed, however, falls ShanghaiThe index is 0.21 percent, while ShenzhenThe index decreased by 0.78 percent.

In Hong Kong it goes up Hang SengThe index increased by 1.54 percent, while Cosby– The index in South Korea fell sharply by 2.11%. Hong Kong-listed competitor Tesla Nio fell sharply after the company lowered its guidance for the fourth quarter. According to the company, the reason is bottlenecks in the supply chain due to the outbreak of the Corona virus.

It is located in Japan Nikki 0.49 per cent, while the widest topixThe index decreased by 0.14 percent. It is located in India Sensex 0.02 percent, S&P/ASX 200– The index fell in Australia by 0.30 percent, and The Straits Times In Singapore it fell 0.02 percent.

“It is worth noting that the stock market situation in both Hong Kong and China has improved significantly after the Chinese authorities began easing infection control measures in the country. We hope that this trend will continue in 2023,” Berntsen writes.

Read the full Asia update here.

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oil price

Brent crude fell 0.7% to $84.56 a barrel on Wednesday morning, while West Texas Intermediate crude fell 0.7% to $79.34 a barrel. On the other hand, a barrel of North Sea oil was trading at $85.45 a barrel at the close of the Oslo Stock Exchange on Tuesday.

Market players are assessing the consequences of banning Russian exports to countries that follow price ceilings from the G7 countries and easing China’s anti-coronavirus policy. Recession fears and restarting some US power plants that were closed due to winter storms are helping lower oil prices.

– The oil market is focused on China easing restrictions on it and expecting an increase in travel, despite the current outbreak. Vishnu Varathan, chief strategist at Mizuho Bank, said Russia’s response to the price cap was largely expected by the market.

After it was announced that travelers would not be quarantined from January 8 onwards, bookings for flights departing from mainland China were up 254 percent Tuesday morning from the day before, according to Trip.com data.

The recent easing of COVID-19 policy in China will have a positive short-term impact, especially on international aviation, Claudio Gallimberti of Rystad Energy told Reuters.

– He added that for the full normalization of Chinese demand, we have to wait another two months.

Reuters indicated that oil refineries in the United States worked on Tuesday to resume operations in a number of facilities that were closed due to storms, which will extend in some cases until January.

Wall Street

Wall Street is heading into its weakest year since the financial crisis. This is how the leading US indices closed on Tuesday:

  • Dow Jones It rose 0.11 percent to 33,241.69 points.
  • Standard & Poor’s 500 It fell 0.31 percent to 3,829.24 points.
  • Nasdaq It fell 1.38 percent to 10,353.23 points.
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The Vix, also known as the fear index, rose 4.36 percent to 21.76.

Elon Musk’s Tesla has been struggling lately. The stock is down more than 70 percent from last year’s peak of $409.