The story of a non-resident Bangladeshi family establishing and running the famed perfume company Al Haramain and its successful subsidiaries
Asian stock markets followed Wall Street higher on Wednesday as talks on ending Russia’s war on Ukraine appeared to make progress.
Shanghai, Hong Kong and Sydney advanced, while Tokyo declined. Oil prices advanced less than $1 per barrel.
That followed Russia’s announcement it would scale back military operations near Ukraine’s capital, Kyiv, and another northern city. It came as negotiators meeting in Turkey began to lay out a possible deal to end the five-week-old war.
“This was a nice add-on catalyst” to a market rally already under way, Clifford Bennett of ACY Securities said in a report.
The Shanghai Composite Index rose 1.3% to 3,245.22, rebounding from the previous day’s loss after Shanghai, China’s most populous city, closed most businesses to fight coronavirus outbreaks.
The Nikkei 225 in Tokyo fell 1.3% to 27,893.92 after the government reported February retail sales declined by a bigger-than-forecast 0.8%. That left retail spending down 2% from its November peak.
The Hang Seng in Hong Kong gained 0.7% to 22,077.63 and the Kospi in Seoul added 0.2% to 2,746.80.
Sydney’s S&P-ASX 200 advanced 0.7% to 7,515.60. New Zealand and Southeast Asian markets also rose.
Russian President Vladimir Putin’s Feb. 24 attack on neighbouring Ukraine rattled global markets that already were on edge about higher US interest rates and a Chinese economic slowdown.
At the meeting in Turkey, Ukraine’s delegation laid out a framework under which the country would declare itself neutral and its security would be guaranteed by an array of other nations.
The Russian deputy defence minister, Alexander Fomin, said Moscow would “cut back military activity” near Kyiv and Chernihiv but gave no details. President Joe Biden said he wasn’t convinced that would lead to a fundamental shift in the war.
On Wall Street, the benchmark S&P 500 index rose 1.2% to 4,631.60 for its fourth straight gaily gain.
The Dow Jones Industrial Average advanced 1% to 35,294.19. The Nasdaq composite added 1.8% to 14,619.64.
ALSO READ:
More than 85% of the stocks in the S&P 500 rose. Tech and communication stocks helped power the rally, along with big retail chains, automakers and other companies that rely on consumer spending. Apple rose 1.9% and Netflix added 3.5%. Ford Motor climbed 6.5% and General Motors gained 4.6%.
Benchmark US crude rose 81 cents to $105.05 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the price basis for international oils, advanced 59 cents to $108.30 per barrel in London.
The dollar declined to 121.62 yen from Tuesday’s 122.91 yen. The euro rose to $1.1113 from $1.1089.
The story of a non-resident Bangladeshi family establishing and running the famed perfume company Al Haramain and its successful subsidiaries
Matches will be played on an exclusive Saturday with no Premier League fixtures taking place on the same day
The plant to be set up in Al Bihouth area is expected to process 900,000 tonnes of waste into energy
The minor didn't take his cellphone or wallet, assuming he'd return quickly
Nadal, 37, who missed virtually all of the 2023 season, is hoping to compete at the French Open in May where he is the record 14-time champion
A Good Samaritan offered him a ride to Bur Dubai for free, declining Sahni's attempt to offer payment
Passengers with cancelled bookings will receive a full credit voucher for the amount paid
Passengers must go to the airport only if they have a confirmed reservation