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    <title>Business Recorder - Markets - Financial</title>
    <link>https://www.brecorder.com/</link>
    <description>Business Recorder</description>
    <language>en-Us</language>
    <copyright>Copyright 2026</copyright>
    <pubDate>Fri, 14 Aug 2026 01:01:00 +0500</pubDate>
    <lastBuildDate>Fri, 14 Aug 2026 01:01:00 +0500</lastBuildDate>
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      <title>Asian markets up on US outlook but oil above $104</title>
      <link>https://www.brecorder.com/news/3214/asian-markets-up-on-us-outlook-but-oil-above-104</link>
      <description>&lt;p class="MsoPlainText"&gt;&lt;img style="margin-right: 10px; margin-bottom: 10px; float: left;" src="https://i.brecorder.com/images/stories/asian_stocks_400.jpg" width="400" height="264" /&gt;HONG KONG: Asian stocks mostly gained Thursday after the US Federal Reserve raised its growth forecast for the economy, although rising tensions in the Middle East sent oil even higher.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;Strong earnings reports also provided some support as markets grow more optimistic about the global outlook.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;Tokyo rose 0.38 percent by the break, Hong Kong gained 0.17 percent and Shanghai was 0.18 percent higher while Sydney added 0.15 percent.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;Seoul fell 0.44 percent and Singapore was 0.10 percent off.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;Stocks were given a strong headstart from Wall Street, where the Dow closed on Wednesday 0.50 percent higher after the US central bank upgraded its estimate for the world's biggest economy.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;The Fed predicted gross domestic product would rise 3.4-3.9 percent this year, versus the 3.0-3.6 percent predicted last November.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;The bank's top policy panel made its prediction after deciding the recovery is now on a firmer footing, with consumers and businesses spending more, despite still-high unemployment, which it said would sit around 8.8-9.0 percent.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;Corporate results also gave dealers reason to be upbeat.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;In Sydney Qantas soared almost four percent after the Australian carrier posted a four-fold increase in half-year net profits to Aus$241 million ($240.6 million) Thursday, despite recent safety scares with its flagship A380 superjumbos.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;"This result was achieved while overcoming significant operational challenges during the period including disruptions to the A380 network from November," the airline said.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;That result followed miner BHP Billiton's announcement Wednesday of a 72 percent surge in half-year net profit.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;And tech stocks were given a lift after computer giant Dell reported in the US that fiscal fourth-quarter earnings nearly tripled on strong demand from corporate customers -- an indicator of economic revival.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;However, crude jumped on supply fears amid increased Middle East tensions after Israel said Iran was sending two warships into the eastern Mediterranean, labelling the act a "provocation" the Jewish state cannot ignore for long.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;That came as violence erupted in Bahrain, with reports of two killed as security forces attacked demonstrators in Manama. There were also demonstrations in Libya and Iran.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;Protests have sprung up across the Middle East, buoyed by the ouster of the presidents of Tunisia and Egypt following pro-democracy demonstrations.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;On oil markets Brent North Sea crude for April delivery was up 52 cents at $104.30 and New York's main contract, light sweet crude for delivery in March, gained 27 cents to $85.26 per barrel.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;"Geopolitical tensions in the Middle East are keeping oil prices up," Victor Shum, senior principal of Purvin and Gertz energy consultants in Singapore, told AFP.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;"This is all due really to the news that Iran is going to send ships to the Suez Canal, and also other news about people protesting in other countries besides Egypt."&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;The dollar traded at 83.57 yen in Tokyo compared to 83.67 in New York late Wednesday.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;The euro rose to $1.3596 from 1.3570. The common currency firmed to 113.62 yen from 113.50.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;Gold opened at $1,376.00-$1,377.00 an ounce in Hong Kong, up from Wednesday's close of $1,375.50-$1,376.50.&lt;/p&gt;
&lt;p&gt;&lt;center&gt;&lt;b&gt;&lt;i&gt;Copyright AFP (Agence France-Presse), 2011&lt;/i&gt;&lt;/b&gt;&lt;i&gt;&lt;/i&gt;&lt;/center&gt;&lt;/p&gt;
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      <content:encoded xmlns="http://purl.org/rss/1.0/modules/content/"><![CDATA[<p class="MsoPlainText"><img style="margin-right: 10px; margin-bottom: 10px; float: left;" src="https://i.brecorder.com/images/stories/asian_stocks_400.jpg" width="400" height="264" />HONG KONG: Asian stocks mostly gained Thursday after the US Federal Reserve raised its growth forecast for the economy, although rising tensions in the Middle East sent oil even higher.</p>
<p class="MsoPlainText">Strong earnings reports also provided some support as markets grow more optimistic about the global outlook.</p>
<p class="MsoPlainText">Tokyo rose 0.38 percent by the break, Hong Kong gained 0.17 percent and Shanghai was 0.18 percent higher while Sydney added 0.15 percent.</p>
<p class="MsoPlainText">Seoul fell 0.44 percent and Singapore was 0.10 percent off.</p>
<p class="MsoPlainText">Stocks were given a strong headstart from Wall Street, where the Dow closed on Wednesday 0.50 percent higher after the US central bank upgraded its estimate for the world's biggest economy.</p>
<p class="MsoPlainText">The Fed predicted gross domestic product would rise 3.4-3.9 percent this year, versus the 3.0-3.6 percent predicted last November.</p>
<p class="MsoPlainText">The bank's top policy panel made its prediction after deciding the recovery is now on a firmer footing, with consumers and businesses spending more, despite still-high unemployment, which it said would sit around 8.8-9.0 percent.</p>
<p class="MsoPlainText">Corporate results also gave dealers reason to be upbeat.</p>
<p class="MsoPlainText">In Sydney Qantas soared almost four percent after the Australian carrier posted a four-fold increase in half-year net profits to Aus$241 million ($240.6 million) Thursday, despite recent safety scares with its flagship A380 superjumbos.</p>
<p class="MsoPlainText">"This result was achieved while overcoming significant operational challenges during the period including disruptions to the A380 network from November," the airline said.</p>
<p class="MsoPlainText">That result followed miner BHP Billiton's announcement Wednesday of a 72 percent surge in half-year net profit.</p>
<p class="MsoPlainText">And tech stocks were given a lift after computer giant Dell reported in the US that fiscal fourth-quarter earnings nearly tripled on strong demand from corporate customers -- an indicator of economic revival.</p>
<p class="MsoPlainText">However, crude jumped on supply fears amid increased Middle East tensions after Israel said Iran was sending two warships into the eastern Mediterranean, labelling the act a "provocation" the Jewish state cannot ignore for long.</p>
<p class="MsoPlainText">That came as violence erupted in Bahrain, with reports of two killed as security forces attacked demonstrators in Manama. There were also demonstrations in Libya and Iran.</p>
<p class="MsoPlainText">Protests have sprung up across the Middle East, buoyed by the ouster of the presidents of Tunisia and Egypt following pro-democracy demonstrations.</p>
<p class="MsoPlainText">On oil markets Brent North Sea crude for April delivery was up 52 cents at $104.30 and New York's main contract, light sweet crude for delivery in March, gained 27 cents to $85.26 per barrel.</p>
<p class="MsoPlainText">"Geopolitical tensions in the Middle East are keeping oil prices up," Victor Shum, senior principal of Purvin and Gertz energy consultants in Singapore, told AFP.</p>
<p class="MsoPlainText">"This is all due really to the news that Iran is going to send ships to the Suez Canal, and also other news about people protesting in other countries besides Egypt."</p>
<p class="MsoPlainText">The dollar traded at 83.57 yen in Tokyo compared to 83.67 in New York late Wednesday.</p>
<p class="MsoPlainText">The euro rose to $1.3596 from 1.3570. The common currency firmed to 113.62 yen from 113.50.</p>
<p class="MsoPlainText">Gold opened at $1,376.00-$1,377.00 an ounce in Hong Kong, up from Wednesday's close of $1,375.50-$1,376.50.</p>
<p><center><b><i>Copyright AFP (Agence France-Presse), 2011</i></b><i></i></center></p>
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      <category>Markets</category>
      <guid>https://www.brecorder.com/news/3214</guid>
      <pubDate>Thu, 17 Feb 2011 06:11:30 +0500</pubDate>
      <author>none@none.com (Shoaib Ur Rehman)</author>
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