Wednesday, 27 June 2018

  • Asian shares were mixed in early Wednesday trade after Wall Street carved out slight gains.
  • Oil prices firmed after the U.S. State Department said companies would be subject to sanctions if they did not completely halt imports of Iranian oil by November.
  • Mainland China markets closed in bear territory on Tuesday.

Major markets in Asia were narrowly mixed early on Wednesday following the slim gains seen on Wall Street overnight as firmer oil prices and trade-related headlines took centre stage for investors.

The Nikkei 225 slipped 0.3 percent, the Kospi edged up by 0.15 percent in Seoul. In Sydney, the S&P/ASX 200 advanced 0.17 percent in early trade.

In currencies, the dollar index, which tracks the greenback against a basket of currencies, was firmer at 94.670. The People’s Bank of China set the Yuan reference rate at 6.5569 vs previous day’s fix of 6.5180. This Yuan mid-point is weakest level since Dec. 25, 2017

Oil prices continued to firm after jumping overnight. The U.S. State Department said companies purchasing Iranian oil would be subject to U.S. sanctions if they did not completely slash those imports by November. U.S. West Texas Intermediate crude futures tacked on 0.18 percent to trade at $70.66 per barrel after crossing the $70 level for the first time in two months overnight. Brent crude futures edged up by 0.31 percent to trade at $76.55.

Source : Reuters

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