• Market News

    China markets extend losses, Shenzhen stocks dive 5%

    Mainland Chinese stocks deepened losses by the afternoon, with other Asia Pacific markets also moving lower as U.S.-China tensions worsened on Friday. In mainland China, the Shanghai composite fell 4.20%, while the Shenzhen composite tumbled 4.64%. The Shenzhen component dived around 5%. Over in Hong Kong, the Hang Seng index declined 2.34%. Tech stocks fell across the board, with Tencent tumbling 5.12% and Alibaba down 3.41%. Gaming stocks also saw steep losses. Tensions between U.S. and China took center stage this week. China announced on Friday that it ordered the United States to shut its consulate in Chengdu following the U.S. demanding the closure of the Chinese consulate in Houston.

  • Hertz halts is selling $500 million in shares
    Market News

    Hertz halts is selling $500 million in shares

    Hertz has suspended its plan to sell up to $500 million in shares after the Securities and Exchange Commission voiced concern about the deal and launched a review. Trading of Hertz stock had been halted for several hours before resuming shortly before 3:30 p.m. ET. Once trading resumed, the shares were volatile, jumping double digits before closing up 2.6% to $2. Hertz in a regulatory filing Wednesday said the sale was “promptly suspended pending further understanding of the nature and timing of the Staff’s review.” The SEC, according to the filing, verbally told the company of its plans to review the sale on Monday. Hertz said it has remained in “regular contact” with the…

  • IEA Witnesses Largest Drop of Oil demand in History
    Market News

    IEA Witnesses Largest Drop of Oil demand in History

    According to International Energy Agency the fall in oil demand is increasing day by day. This year the decrease in oil demand is going to be largest in history. But there is a hope. IEA is positive about upcoming months. IEA thinks that market will see “a more stable footing” in coming months. Here are some trading predictions. Brent crude futures traded at $39.97. U.S. West Texas Intermediate futures stood at $37.22, around 0.3% higher. It can be higher or lower according to experts. Oil prices are down to 40%. Travel industry is almost closed and that’s why oil demand has dramatically decreased.  The global pandemic is affecting all energy markets. The…