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Global shares slide as Russia-Ukraine conflict, OPEC+ output plan push oil prices higher
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....lobal shares slide as Russia-Ukraine conflict, OPEC+ output plan push oil prices higher<BR>PTI News<BR>Dated:- 2-6-2025<BR>PTI<BR>Hong Kong, Jun 2 (AP) Global shares sank on Monday and oil prices jumped as trade tensions and the Russian-Ukraine conflict ratcheted up geopolitical uncertainty. The future for the S and P 500 lost 0.5 per cent while that for the Dow Jones Industrial Average gave up 0....
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.....4 per cent. Germany's DAX retreated 0.4 per cent to 23,891.11 and the CAC 40 in Paris declined 0.5 per cent to 7,712.40. British FTSE 100 gained 1 per cent to 8,778.84. In Asia, Hong Kong's Hang Seng initially plunged more than 2 per cent as Beijing and Washington traded harsh words over trade. US President Donald Trump's announcement that he will double tariffs on steel and aluminum to 50 p....
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....er cent layered on still more worries for investors. But the Hang Seng closed just 0.6 per cent lower, at 23,157.97. Markets in mainland China were closed for a holiday. China blasted the US for issuing AI chip export control guidelines, stopping the sale of chip design software to China, and planning to revoke Chinese student visas. A report over the weekend that China's factory activity contr....
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....acted in May, although the decline slowed from April as the country reached a deal with the US to slash President Donald Trump's sky-high tariffs, further undermined market sentiment. Oil prices rallied after OPEC+ decided on a modest increase in output beginning in July. It was the third monthly increase in a row. US benchmark crude oil gained USD 2.08 to USD 62.87 per barrel, while Brent crude....
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...., the international standard, was up USD 1.75 at USD 64.53 per barrel. Moscow pounded Ukraine with missiles and drones just hours before a new round of direct peace talks in Istanbul and a Ukrainian drone attack destroyed more than 40 Russian planes deep in Russia's territory, Ukraine's Security Service said on Sunday. Hong Kong's Hang Seng dropped 0.6 per cent to 23,157.97 as China and the US a....
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....ccused each other of breaching their tariff agreement reached in Geneva last month. Tokyo's Nikkei 225 lost 1.3 per cent to 37,470.67, while the Kospi in Seoul added 0.1 per cent to 2,698.97. Australia's S and P/ASX 200 retreated 0.2 per cent to 8,414.10. India's Sensex lost 0.4 per cent while the Taiex in Taiwan fell 1.6 per cent. On Friday, Wall Street closed its best month since 2023. The S....
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.... and P 500 retreated less than 0.1 per cent and the Dow Jones Industrial Average edged 0.1 per cent higher. The Nasdaq composite fell 0.3 per cent. Hopes had largely been rising that the worst of such worries had passed, which in turn sent stocks rallying, after Trump paused his tariffs on both China and the European Union. A US court then on Wednesday blocked many of Trump's sweeping tariffs. Th....
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....at all sent the S and P 500 in May to its first winning month in four and its best since November. But the tariffs remain in place while the White House appeals the ruling by the US Court of International Trade, and the ultimate outcome is still uncertain. In the bond market, Treasury yields eased after a report showed that the measure of inflation that the Federal Reserve likes to use was sligh....
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....tly lower in April than economists expected. A separate report from the University of Michigan said that sentiment among US consumers was better in May than economists expected. Sentiment improved in the back half of the month after Trump paused many of his tariffs on China. In currency trading early Monday, the US dollar fell to 142.91 Japanese yen from 143.87 yen. The euro inched up to USD 1.1....
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....421 from USD 1.1351. (AP) PY PY<BR> News - Press release - PIB....