UPDATE 1-Brent rises above $50 ahead of U.S. oil stocks data SINGAPORE, Aug 5- Benchmark Brent crude oil prices rose above a key support level of $50 on Wednesday, recovering from multi-month lows, as investors await U.S. oil inventories data to gauge supply. "The market is still digesting news of Iran coming back with more supply," Ben Le Brun, a markets analyst at OptionsXpress in Sydney said. September Brent crude rose 35...
| By: Florence Tan
Asian stocks mostly higher as investors await US data KEEPING SCORE: Japan's Nikkei 225 rose 0.7 percent to 20,666.74 and South Korea's Kospi added 0.1 percent to 2,030.11. Stocks in Taiwan, India and Southeast Asia rose. Also on Friday, the Institute for Supply Management, a trade group of purchasing managers, issues its index of non-manufacturing activity for July, which shows the status of U.S. service firms that...
Source: The Associated Press
| By: By YOUKYUNG LEE, AP Business Writer
FOREX-Dollar extends gains after Fed official supports Sept rate hike TOKYO, Aug 5- The dollar extended gains against the yen and euro on Wednesday after Atlanta Federal Reserve President Dennis Lockhart expressed support for an interest rate hike in September. Lockhart, a voter this year on the Federal Open Market Committee, told the Wall Street Journal that it would take "significant deterioration" in the U.S. economy for him to...
| By: Shinichi Saoshiro
Nikkei edges up on some positive earnings, Toyota falls *Construction firms up after good Kajima earnings. TOKYO, Aug 5- Japan's Nikkei share average edged up on Wednesday as construction firms and real estate developers gained on earnings but Toyota Motor and other cyclical shares buckled under concerns about slower global growth. Kajima rose 6.0 percent while rival Shimizu Corp rose 4.7 percent.
| By: Hideyuki Sano
Caixin China services PMI at 11-month high A reading of China's services sector expanded at a quick pace, a positive signal that marked a sharp contrast to recent weak manufacturing data.
| By: Leslie Shaffer
GRAINS-Corn rises for 2nd day on bargain-buying; soy, wheat firm SINGAPORE, Aug 5- U.S. corn futures rose for a second session on Wednesday, with the market underpinned by bargain-buying after prices slid to a six-week low earlier this week, although expectations of ample global supplies capped gains. Soybeans rose after sliding for the last three sessions, while wheat gained 0.6 percent. *There is additional support for corn...
UPDATE 1-Official China paper says investor sentiment has rebounded after stock rout SHANGHAI, Aug 5- Investor confidence in China's stock market improved in July after the government stepped in to. halt a share price slide, China's official Shanghai. Since China's stock markets started crashing, Beijing has rolled out an unprecedented series of support measures, including cajoling brokerages and pension funds to buy stocks, cracking down on...
UPDATE 1-China July services activity quickens to 11-month high - survey *July Caixin services PMI hits 53.8, highest since Aug 2014. BEIJING, Aug 5- Activity in China's services sector expanded at its fastest pace in 11 months in July, thanks to stronger new business, a private survey showed on Wednesday, a welcome development at a time factories in the world's second largest economy are struggling. The services Purchasing Managers'...
Brent inches up above $50 ahead of US oil stocks data SINGAPORE, Aug 5- Benchmark Brent crude oil prices inched up just above a key support level of $50 on Wednesday, recovering from multi-month lows, as investors await U.S. oil inventories data to gauge supply. "The market is still digesting news of Iran coming back with more supply," Ben Le Brun, a markets analyst at OptionsXpress in Sydney said. September Brent crude...
| By: Florence Tan