Asia shares are mixed following Wall Street's losses, as oil edges lower
BNN Bloomberg
Asia shares were mixed Friday following a mild retreat on Wall Street, while the price of oil fell more than US$1 after reaching the highest level since the summer of 2024.
U.S. futures edged higher as the war with Iran entered its seventh day, with Israeli airstrikes pounding the capitals of Iran and Lebanon. The future for the S&P 500 gained 0.2 per cent while that for the Dow Jones Industrial Average was up 0.3 per cent.
In Asian trading, South Korea’s Kospi edged up less than 0.1 per cent to 5,584.87, after a roller coaster week with a record 12 per cent loss on Wednesday followed by a nearly 10 per cent rebound on Thursday. The index had shot above 6,000 in recent weeks before the war began to rattle financial markets.
Tokyo’s Nikkei 225 index gained 0.6 per cent to 55,620.84.
Hong Kong’s Hang Seng jumped 1.6 per cent to 25,732.75, while the Shanghai Composite index was up 0.4 per cent, to 4,124.19.
Australia’s S&P/ASX 200 declined 1 per cent to 8,851.00.
The impact of the Iran war on fuel prices in Canada may encourage more drivers to go electric, some experts say, but others warn the conflict will drive up prices of "pretty much everything."
The U.S. is temporarily easing some sanctions on Russian oil shipments, reflecting global concerns over sharply higher crude prices due to supply shortages stemming from the Iran war.
The Trump administration this week stepped up its ambitious effort to replace about US$1.6 trillion in lost tariff revenue that was eliminated by the U.S. Supreme Court’s decision to strike down a range of the president’s import taxes.
The Bank of Canada will be balancing a last-minute flood of economic data with uncertainty around trade and war in the Middle East as it prepares to make its second interest rate decision of 2026 this week.
The Trump administration has expanded its trade investigations to 60 countries, including Canada, in an effort to shore up the president’s tariff policies.
Canada has committed to supplying 23.6 million barrels of oil as part of a larger International Energy Agency plan to help stabilize energy markets as the war in the Middle East continues.
Canada’s energy-heavy index may cushion stocks from oil shocks, but rising crude prices could boost inflation and pressure consumers.
Venture Global will proceed with phase 2 of its CP2 liquefied natural gas project in Louisiana, the company said on Friday.
The U.S. is temporarily easing some sanctions on Russian oil shipments, reflecting global concerns over sharply higher crude prices due to supply shortages stemming from the Iran war.
Telus Corp.’s global IT and customer services arm says it’s investigating a breach of its systems.
When Jensen Huang strides onto the stage of a packed hockey arena to kick off Nvidia’s annual developer conference on Monday, he is likely to reveal products and partnerships geared toward keeping the AI chipmaker atop a growing array of competitors.
The current Canada Revenue Agency (CRA) crackdown on Canada’s growing army of gig workers has gone beyond Uber drivers, contractors, consultants, handy-people and freelancers.