Asia shares up on tech, oil dips, dollar steady at 157 yen
Asian share markets edged higher on Monday, boosted by chipmakers, while oil prices eased slightly but remained above $100 a barrel. The dollar held steady against the yen at 157.00, with investors wary of potential intervention by the Bank of Japan.
Tech helps Asia shares, Wall St futures edge up Brent dips, still above $100 as US-Iran conflict drags on Dollar steady at 157 yen amid intervention alarm By Wayne Cole SYDNEY, Sept 21 (Reuters) — Share markets edged higher in Asia on Monday as AI's insatiable demand for data buoyed chipmakers, and oil eased as hopes Saudi Arabia could boost supplies offset news of a Houthi attack on Riyadh. 00 yen with investors wary in case the Bank of Japan took advantage of the lack of liquidity to intervene in support of its currency. The yen jumped on Friday after Japanese authorities conducted rate checks in the currency market, the Nikkei newspaper reported. 1%.
3%. 4%. 2%, while FTSE futures were flat. 7604%.
Hawkish guidance from the Federal Reserve last week has futures wagering on a 56% chance it will hike rates again in October, with a move by year-end considered a done deal. "Tightening cycles are generally front-loaded, and the Fed almost never stops after one hike," wrote analysts at BofA in a note. " Oil Reserves Running Dry Central banks in the EU, UK, Japan, Australia and New Zealand are also expected to tighten again by year end. The Swiss National Bank, Sweden's Riksbank and Norges Bank hold policy meetings on Thursday, but all are seen holding steady for now.
Bonds have also been dogged by deficit worries with the risk premium on French debt spiking on Friday to its widest since the euro zone debt crisis. German debt could come under pressure later on Monday after Chancellor Friedrich Merz's mainstream conservative party suffered its worst election results since 1949. 1477, having shed almost 1% last week as the dollar gained broadly. Oil prices held above $100 as Iran and the United States exchanged new threats and after the Houthis attacked Saudi Arabia's capital.
02. There were reports that Saudi Arabia was aiming to quickly restart some flows through its main east-to-west pipeline after it was damaged in attacks last week, though details were lacking. "The closure of the East-West pipeline has materially altered the state of the oil market," said Vivek Dhar, head of commodities at CBA. " This would increase pressure on Washington to make a deal with Iran, at least to restore some flows through the Strait of Hormuz and keep the Bab el-Mandeb passage open, he added.
US President Donald Trump will be attending the United Nations General Assembly this week, ahead of a meeting with Chinese President Xi Jinping on Thursday. 2% to $4,370 an ounce. net)