Asia shares try to extend rally ahead of U.S. jobs test Stock Market 

Asia shares try to extend rally ahead of U.S. jobs test

By Administrator_ India Capital Sands Asian shares were trying to extend their recent rally to a third week on Monday in the hope U.S. jobs figures show the expected revival in hiring in May and keep the global recovery on track. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.3%, having rallied 2.2% last week. Japan’s Nikkei fell 0.7%, while Australia touched a fresh all-time peak. Chinese blue chips slipped 0.4%, while a survey showed a slight slowdown in factory activity but a pick-up in the giant service sector. Markets in…

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Oil Up, Fueled by Continuous Increase in U.S. Fuel Demand Commodity 

Oil Up, Fueled by Continuous Increase in U.S. Fuel Demand

By Administrator_ India Capital Sands Oil was up Friday morning in Asia, ending the week by extending gains from the highest close in more than two years. Optimism as U.S. fuel demand continues to increase gave the black liquid a boost, even as concerns over a potential Iranian supply increase remained. Brent oil futures were up 0.40% to $69.48 by 10:07 PM ET, inching towards the $70 mark. WTI futures gained 0.54% to $67.21, after settling at their highest finish since October 2018. A successful COVID-19 vaccine drive in the U.S.…

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Oil settles higher on stronger demand outlook as U.S inventories fall Commodity 

Oil settles higher on stronger demand outlook as U.S inventories fall

By Administrator_ India Capital Sands Oil prices settled higher on Wednesday as a drop in U.S. crude stockpiles reinforced expectations of improving demand ahead of the peak summer driving season, offsetting worries that a possible return of Iranian supply would cause a glut. Brent settled up 22 cents, or 0.3%, to $68.87 a barrel, and U.S. West Texas Intermediate crude settled up 14 cents, or 0.2%, at $66.21 a barrel. Both benchmarks pared losses after government data showed U.S. crude stocks at the Cushing, Oklahoma, storage hub fell last week to the…

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Economic News 

Japan ruling party heavyweight calls for $239-billion extra budget

By Administrator_ India Capital Sands Japan’s government is expected to compile an extra budget in October or November, senior ruling party lawmaker Kozo Yamamoto said on Wednesday, calling for spending of around $239 billion to cushion the economic blow from the COVID-19 pandemic. Yamamoto, a heavyweight close to former Prime Minister Shinzo Abe, also urged the Bank of Japan to ramp up asset buying to weaken the yen further and help the export-reliant economy. Yamamoto called for compiling a 26-trillion-yen ($239 billion) extra budget as soon as possible to pull…

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Gold Steady Near Four-Month High Amid Fed Inflation Comments Commodity 

Gold Steady Near Four-Month High Amid Fed Inflation Comments

By Administrator_ India Capital Sands Gold steadied near the highest level in more than four months as investors weighed comments by Federal Reserve officials who sought to soothe concerns about inflation. Governor Lael Brainard, Atlanta Fed President Raphael Bostic, and St. Louis’s James Bullard said they would not be surprised to see bottlenecks and supply shortages push prices up in coming months as the pandemic recedes and pent-up demand was unleashed, but much of those price gains should prove temporary. Gold is close to erasing this year’s decline as investors…

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Oil Up, Fueled by Continuous Increase in U.S. Fuel Demand Commodity 

Oil Up as Iran Nuclear Deal Talks Continue

By Administrator_ India Capital Sands Oil was up Monday morning in Asia, with investor sentiment boosted by signs of the U.S.’ continuing economic recovery from COVID-19 and the improved outlook for fuel demand. Investors are also monitoring the progress of talks to revive a 2015 Iranian nuclear deal that is likely to increase global crude supply. Brent oil futures gained 0.63% to $66.77 by 1:13 AM ET (5:13 AM GMT), with the contract rolling over to the Aug. 21 contract on May 23. WTI futures were up 0.63% to $63.98. Iranian President Hassan Rouhani said…

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Bitcoin under pressure as comeback fades Forex Analysis 

Bitcoin under pressure as comeback fades

By Administrator_ India Capital Sands Bitcoin fell 3% on Friday, giving up gains from the Asia session, as its recovery from this week’s plunge shows signs of faltering. Bitcoin fell to $39,262 on the Bitstamp exchange. That is roughly 30% above its Wednesday low, but just below its 200-day moving average. Rival cryptocurrency ether also came under pressure on Friday, falling 2% to $2,714. Ether is down 24% for the week and bitcoin down 15%.

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Adani Green buys SB Energy from Softbank and Bharti; firm valued at $3.5 bn Business 

Adani Green buys SB Energy from Softbank and Bharti; firm valued at $3.5 bn

By Administrator_ India Capital Sands Adani Green Energy Ltd. said on Wednesday it is acquiring SB Energy India from Softbank of Japan and India’s Bharti Group to add 4,954 MW in its renewable power portfolio. The deal is the biggest acquisition in India’s renewable power sector. The transaction values SB Energy India at an enterprise valuation of approximately $3.5 billion. The target portfolio consists of large-scale utility assets with 84 percent solar capacity (4,180 MW), 9 percent wind-solar hybrid capacity (450 MW), and 7 percent wind capacity (324 MW). The portfolio comprises…

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Litecoin Climbs 12% As Investors Gain Confidence Cryptocurrency 

Litecoin Climbs 12% As Investors Gain Confidence

By Administrator_ India Capital Sands Litecoin was trading at $302.894 by 23:42 (03:42 GMT) on the Investing.com Index on Tuesday, up 12.23% on the day. It was the largest one-day percentage gain since May 5. The move upwards pushed Litecoin’s market cap up to $20.351B, or 0.98% of the total cryptocurrency market cap. At its highest, Litecoin’s market cap was $25.609B. Litecoin had traded in a range of $279.000 to $307.346 in the previous twenty-four hours. Over the past seven days, Litecoin has seen a drop in value, as it lost…

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Stock Market 

Asia shares left listless by mixed China data

By Administrator_ India Capital Sands Asian share markets turned mixed on Monday as data on Chinese retail sales missed expectations though industrial output stayed solid, while more evidence of global inflation pressures helped gold to a three-month peak. Chinese retail sales rose 17.7% in April a year ago, short of forecasts for a jump of 24.8%, while industrial output matched expectations with a rise of 9.8%. The spread of the coronavirus was also a hindrance with Singapore shutting most schools from Wednesday after reporting the highest number of local infections…

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