Global Markets: Increase in oil prices


In international markets, the increase in consumption strengthened oil exports while supporting the shares of raw material producers.  Stocks of Asian raw material manufacturers have appreciated after the strong increase in commodity prices boosted the optimism that the global economy could gain strength.

BHP Billiton Ltd., Rio Tinto Ltd. and Nippon Steel & Sumitomo Metal Corp led the uptrend in the MSCI Asia Pacific Index, which is heading for a gain in the seventh consecutive month. Investors rate the data from the world’s largest domestic economy. Official manufacturing purchasing managers in China (PMI) index fell to 51.4 in July, with the government’s efforts to reduce financial risks. The data, which was at 51.7 in June, was expected to increase to 51.5, according to the median of Bloomberg’s survey of economists.

The US economy grew 2.6 percent, which is slightly below expectations in the second quarter, according to the data released on Friday. On the other hand, in Japan, industrial production rose 1.6 percent in June, due to strong global demand.

In Japan, the Topix Index closed down 0.2 percent below the watershed between losses and profit areas. Australia’s S & P / ASX 200 Index increased 0.3 percent while Korea’s Kospi Index rose 0.1 per cent. Hong Kong’s Hang Seng Index rose 1.1 percent. With HSBC rising at a 2.5-percent high since November 2014, the index has become one of the top contributors. The Shanghai Composite Index rose 0.6 percent in China.

Standard & Poor’s 500 index futures contracts declined 0.1 percent. The increase in Volatility pulled down the Nasdaq 100 and S & P 500 indexes last week.

The yen has returned to its previous close levels by returning its gains against the dollar and is near the highest of 1.5 months on Friday. The euro is 1.1733 against the US dollar. The Bloomberg Dollar Spot Index rose 0.1 percent after falling 0.4 percent last week and moving the decline to the third week.

West Texas Oil (WTI), for the first time since May for the first time in more than $ 50 per barrel, rose 0.3 per cent to $ 49.88. Crude oil increased on Friday with support for the fall in crude oil and gasoline inventories. Gold price remained unchanged at $ 1,268.48 per ounce, and in the last seven months it has moved to achieve its sixth-month rise.

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Global Markets: Increase in oil prices

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