Asia shares struggled on Friday and oil prices resumed their rise, as a shaky ceasefire in the Middle East war and stalled US-Iran peace talks gave investors little to cheer. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.3% and was set to end the week with a 0.8% gain, while Japan’s Nikkei added 0.45% and stocks in South Korea, China and Hong Kong fell. Nasdaq futures a
Pakistan’s central bank is expected to hold its key policy rate at 10.5% at its upcoming meeting, according to a Reuters poll, though some analysts warn that rising oil prices from the Iran-US conflict could prompt the first rate hike in nearly two years. Six of the 10 analysts surveyed expect the State Bank of Pakistan (SBP) to keep the rate unchanged in its next meeting on Monday, while three
Market analysts expect the State Bank of Pakistan (SBP) to keep the policy rate unchanged at 10.5% in its upcoming Monetary Policy Committee (MPC) meeting to be held on Monday. “The world is negotiating peace amid uncertainty; therefore, at a time like this, we believe policy must continue to lean toward discipline over impulse. We expect the SBP to keep the policy rate unchanged at 10.5% in th
The dollar was on track for its first weekly gain in three weeks on Friday, as stalled peace negotiations between the US and Iran dampened hopes for an immediate easing of Middle East tensions. While Lebanon and Israel extended their ceasefire for three weeks ahead of its expiration on Sunday, Iran showed off its control over the Strait of Hormuz by releasing footage of its commandos storming
Gold held steady on Friday, but was on track for a weekly drop as elevated oil prices fuelled fears of inflation and higher-for-longer interest rates amid stalled US-Iran peace talks. Spot gold was down 0.1% at $4,686.29 per ounce, as of 0230 GMT. The metal is down 3% so far this week after a four-week winning run. US gold futures for June delivery fell 0.5% to $4,702. Brent crude prices