UPDATE 5-Oil steadies after strong gains as equities rally LONDON, Aug 28- Oil prices steadied on Friday after bouncing back from six-and-a-half-year lows on recovering equities markets, strong U.S. economic growth and news of low crude supplies from Nigeria. Worries over China's economy have compounded the falls in recent weeks. A stock market rise, strong U.S. growth data and a pipeline outage in Nigeria provided an...
| By: Christopher Johnson
UPDATE 4-Oil prices extend gains after biggest daily climb in 6 years SEOUL, Aug 28- Crude oil futures rose on Friday, adding to their biggest one-day rally in over six years the day before, led by recovering equity markets and news of diminished crude supplies. October Brent crude was up 69 cents at $48.25 per barrel as of 0615 GMT. U.S. crude was 65 cents higher at $43.21 per barrel, after ending up $3.96 at $42.56 per barrel.
| By: Meeyoung Cho and Aaron Sheldrick
UPDATE 1-Oil markets extend gains after biggest daily climb in 6 yrs SEOUL, Aug 28- Crude oil futures rose on Friday in Asian trading, adding to their biggest one-day rally in over six years the day before led by recovering equity markets and news of diminished crude supplies. Front-month October Brent crude was up 44 cents, or nearly 1 percent, at $48 per barrel as of 0140 GMT, after trading sideways earlier. U.S. crude was 80 cents, or...
| By: Meeyoung Cho
Oil markets catch breath after biggest gains in six years SEOUL, Aug 28- Crude oil futures were largely steady on Friday after posting their biggest one-day rally in over six years the day before led by recovering equity markets and news of diminished crude supplies. Front-month October Brent crude had dipped 20 cents to $47.36 per barrel as of 0046 GMT. U.S. crude edged down 3 cents to $42.53 per barrel, after ending up...
| By: Meeyoung Cho
FOREX-Dollar bulls brightened up after data, risk appetite improves SYDNEY, Aug 28- The dollar held at one-week highs against a basket of major currencies early on Friday, having benefited from upbeat U.S. data and as investors continued to cut back on safe-havens such as the yen. The euro came close to $1.1200, having been knocked off its lofty perch above $1.1700. Analysts at Citi said all four components showed positive revisions:...
| By: Ian Chua
Shanghai closes up 5.4% to reclaim key 3,000 mark Asian shares advanced on Thursday, with China's Shanghai Composite index reclaiming the key 3,000 mark, inspired by Wall Street's biggest one-day gain since 2011 overnight.
| By: See Kit Tang
INSIGHT-China market chaos blamed on exodus of regulatory 'turtles' *China regulators lured Chinese execs from Wall St in 2009. SHANGHAI, Aug 27- At the height of the 2008 financial crisis, as Wall Street slashed jobs, Beijing took advantage of the disarray to poach top Chinese financial talent from overseas to help reform its stock markets. By summer 2015, China's Securities Regulatory Commission needed them more than ever; a...
| By: Samuel Shen and Engen Tham