Forex VPS
Forex VPS
ForexFunction Logo

"Forex trading involves a high level of risk"

Forex VPS
 Market Comments |  Technical Indicator Signals |  Cross Pair Rates |  Live Spread |  Live Charts |  Daily Pivot Points
Asian Energy Stocks ramp gains due to bullish Oil - Forex Function

Asian Energy Stocks ramp gains due to bullish Oil

Last Update: 30 May,2016
Print PDF

Shares of Asian energy companies increased on Thursday because oil prices reached $50 a barrel level. However, worries about a possible increase of rates in the U.S. kept stocks from growing even higher.
Japan’s Nikkei Stock Average index gained 0.3%, and S&P/ASX 200 in Australia slightly declined by 0.2%, while Kospi index in Korea lost 0.1%. China’s the Shanghai Composite Index decreased by 1%. Hang Seng Index in Hong Kong slipped 0.2%.
At the beginning of the trading session in Asia, Brent oil futures which are the global oil standard grew to more than $50 per barrel, a psychological level for traders. In 2015, Goldman Sachs forecasted that oil prices could fall even to $20 per barrel, and the price drop was the primary concern for stock investors worldwide.
Decreasing oil prices negatively affect incomes of energy corporations and the financial organizations that give loans to them. Also, the price drop didn’t bring significant growth in the U.S. consumer spending, adding more uncertainty to the performance of the U.S. economy, experts suggest.
According to Alex Wijaya, a senior sales trader at CMC Markets, oil prices increase will be positive for the equities market. Oil Search stocks gained 0.8%, and Australia’s Woodside Petroleum climbed 1.5%.
However, these positive trends weren’t enough for shares to grow in China and Hong Kong. In Hong Kong, energy companies stocks were only that grew. In China, oil company PetroChina gained 0.8%.
Mr. Wijaya added that traders are still mostly concerned about China’s slowing economy, and there are doubts on how much these stocks can grow more.
Shares in China also continued the retreat, making it the third day in a row of the Shanghai Composite Index decreasing. In contrary, energy stocks were increasing despite the trend. For example, China’s CSI 300 gained 0.3%.
Worries about the U.S. economy reappeared due to lower Markit Economics’ services purchasing managers index than was projected overnight.
As a consequence, the price of gold which is known as a safe asset stepped back to $1,232.30 for a troy ounce on Thursday morning.
Analysts at Citigroup have issued a note suggesting that they don’t expect investors to increase the risk to their portfolios before the publication of the U.S. economic figures on Thursday and the speech of Fed’s Chairwoman Janet Yellen on Friday.
Recently Brent crude oil was sold for $50.02 per barrel.

Read more
Analytical review at Alpari

Submit Your Comments:

 Forex Trading VPS


Windows 2008/2012 | Server Location Amsterdam, France, Canada | Low Latency From Brokers| Super Fast Trading Experience | All types of EA supported | 3 Days Money Back Guarantee

Plan NameBuy Link CPU RAM Disk BandWidth Price (Montly)Price (Quarterly)Price (Semi-Annually )Price (Annually) InstallationBackUpSetup Fee
Economy buy now2 Core 756MB 15GB 1TB $6.50/M$6.20/M$5.90/M $5.50/M MT4 Pre-InstalledYesFree
Standard buy now 2 Core 1GB 25GB 1.5TB $8.50/M$8.20/M$7.90/M $7.50/M MT4 Pre-InstalledYesFree
Premiumbuy now 2 Core 2GB 40GB 2TB $16/M$15.50/M$15/M$14.50/M MT4 Pre-InstalledYesFree
Advanced buy now4 Core 3GB 60GB 2.5TB $26/M$25/M$24/M $22/M MT4 Pre-InstalledYesFree
Professionalbuy now 4 Core 4GB 80GB 3TB $33/M $32/M$31/M$29/MMT4 Pre-InstalledYesFree
Business buy now 4 Core 6GB 100GB 4TB$46/M $45/M$44/M$42/MMT4 Pre-InstalledYesFree
Platinum buy now 4 Core 8GB 120GB 6TB $59/M $58/M$57/M$55/M MT4 Pre-InstalledYesFree
Diamond buy now 4 Core 12GB 180GB 8TB $89/M $87/M$85/M$81/MMT4 Pre-InstalledYesFree

***We accept Neteller, Skrill, MasterCard, Paypal, Payza, Perfect Money, Webmoney !