40 minutes ago
Asian oil stocks mixed after Iranian drone attack on Israel
Asian oil stocks were mixed after Iran’s drone attack on Israel last weekend, but crude oil futures were little changed.
Australian oil giant Woodside Energy rose 0.1%, while peers Santos and Beech Energy rose 0.38% and 1.02% respectively.
In Japan, Nippon Oil was one of the biggest gainers on the Nikkei Stock Average, rising 3.08%, while Eneos Holdings also rose 0.32%. However, majors IPO and Cosmo Energy fell 0.29% and 0.58%, respectively.
South Korean oil stocks were also mixed, with Kospi SK Innovation, the largest oil stock by market capitalization, down 1.29%. South Korea’s second-largest stock, S Oil, also rose 2.04%.
— Lim Huijie
1 hour ago
Japan’s February machinery orders exceeded expectations
Japan’s core machinery orders rose 7.7% month-on-month in February, significantly exceeding expectations and compared with economists polled by Reuters forecast for a 0.8% increase.
However, on a year-on-year basis, core machinery orders fell by 1.8%, which was smaller than the 6% decline predicted in a Reuters survey.
Core machinery orders are a highly volatile data series and are considered a leading indicator of Japanese capital investment.
— Lim Huijie, Reuters
1 hour ago
CNBC Pro: Nvidia’s major shareholder reveals the impetus for selling growth stocks
Nvidia’s stock price has plummeted this year and is up more than 80% in 2024, but one of the company’s largest shareholders has revealed why he sold his shares.
Raj Shanth, managing director of investment firm Jenison Associates, told CNBC Pro that the company is selling its position in the AI chip maker to manage risk, even though the company remains optimistic about its long-term outlook. He said he was doing it.
CNBC Pro subscribers can read more about Jennison’s why.
— Ganesh Rao
2 hours ago
Oil prices fall slightly after Israel avoids large-scale air attack by Iran
US crude oil futures fell slightly on Sunday as traders breathed a sigh of relief after Israel avoided a major air attack by Iran and the US stressed it wanted to avoid a wider war in the Middle East. .
West Texas Intermediate’s May contract fell 34 cents to $85.32 a barrel in early trading Sunday evening. Brent futures for June contract fell slightly to $90.18 per barrel. U.S. crude oil closed at $85.66 per barrel on Friday, while the global benchmark settled at $90.45. WTI futures have hovered around $71 per barrel since the beginning of the year.
Iran launched more than 300 drones and missiles against Israeli military targets on Saturday, an attack President Joe Biden described as “unprecedented.” Although large in scale, the Iranian attack caused little actual damage to Israel.
— Spencer Kimball
3 hours ago
Cryptocurrencies fall as tensions in the Middle East intensify
Bitcoin and other cryptocurrencies sold off heavily on Saturday night after Iran launched an unprecedented drone and missile attack against Israel.
As of Sunday night, Bitcoin was trading near $65,000. It was able to partially recover from a drop of about $70,000 to below $62,000 on Saturday. This was the steepest decline for Bitcoin in a year.
Other coins such as Ether were also sold, with some cases dropping up to 10%.
— Ha-Kyung Kim, Matt Clinch
4 hours ago
First direct attack on Israel from Iranian territory on Saturday
Iran launched 300 drones and missiles at Israel on Saturday night in retaliation for the killing of senior Iranian officials in Syria in an apparent Israeli attack. The attack was the first direct attack on Israel from Iranian territory.
The Israeli government has identified 300 types of drones and missiles and has managed to intercept “99%” of the drones and missiles heading toward Israeli territory, according to an Israeli Defense Forces spokesperson.
— Ha-Kyung Kim
