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October, 1, 2016

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Business > Global Markets
Global stocks decline on   prospect of US rate hike
European stock markets slumped on Monday, mirroring a slide across Asia caused by the prospect of a U.S. interest rate hike as early as this month.
 
Oil prices dived again Monday on a pick-up in drilling and a strong U.S. dollar, as speculation swirled that the Federal Reserve could hike interest rates as soon as this month.
 
The U.S. dollar's rally against the euro and yen hit a wall Monday, but it rose against other Asia-Pacific currencies on renewed speculation that the Federal Reserve will hike interest rates this month.
 
Shares in Taiwan on Saturday extended their losses from the previous session, closing down more than 110 points as investor sentiment was hurt by growing fears of an interest rate hike by the U.S. Federal Reserve, dealers said.
 
The Taiwan Stock Exchange (TWSE) has joined forces with Zurich-headquartered financial giant Credit Suisse to promote fundamentally sound Taiwan-listed companies to global investors.
 
Oil prices retreated Friday, taking a chunk out of the previous day's rally as investors digested data suggesting last week's plunge in U.S. stockpiles was likely a one-off.
 
Oil prices rose built on recent gains Thursday thanks to a softer U.S. dollar and industry data indicating U.S. stockpiles sank last week.
 
Oil prices rallied in Asia on Wednesday on the back of a weaker dollar but scepticism that key producers will agree to limit output at an upcoming meeting kept gains in check.
 
The U.S. dollar edged up marginally Tuesday after the previous day's drop but gains were limited by doubts over a U.S. interest rate hike this month.
 
Crude prices rose in Asia Tuesday after Russia and Saudi Arabia pledged to work on addressing a global supply glut, but analysts said gains would be limited after the two sides provided scant detail about their plans.
 
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