Asia shares tentative, oil set for weekly gains on Mideast risks

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SINGAPORE: Asian stocks rose on Friday while oil prices were headed for their sharpest weekly gain in more than a year, as escalating tensions in the Middle East kept markets on edge.

Oil prices are on track for strong weekly gains, driven by concerns over potential supply disruptions in the Middle East.U.S.

That sent traders paring back bets of another 50-basis-point rate cut by the Fed next month, with futures pointing to just a 35% chance of such a scenario."The U.S.services ISM beat strongly on the upside, exceeding all forecasts.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaChinaHong KongIsraelJapanMaliSingapore

Topics: Asian Stimulus MSCI Markets Middle East Hang Seng /Business/Business News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-04 @ 14:37:00 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 836 words

Reading Time: 5 minutes read

Sentences: 32 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 22876544

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Main Topics: EconomyBusiness

Official Website: thestar.com.my

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Year Established: 1971

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