Uber has been ordered to pay a 300,000 euro ($336,600) penalty, adding to the challenge of a court-ordered partial shutdown imposed on its...

Stock Market

Uber Must Pay $336,600 Penalty on Top of Brussels Near-Shutdown

The Department of Energy (DOE) said, that the United States has launched an auction for 32 million barrels of crude from four strategic...

Commodities

U.S. to Sell 32 million Barrels of Crude Oil from 4 SPR Sites

The energy ministry said the United Arab Emirates will show complete commitment and cooperation with the OPEC+ agreement.

Commodities

UAE Will Offer Complete Support to OPEC+ Decisions

Asian shares fell lower as the dollar went up on Thursday. Investors are looking towards hike rate policies...

Stock Market

Asian Shares Decline as Dollar Goes Higher

The Turkish Lira began on its recovery after reaching record lows caused by the President’s interest rate cuts.

Stock Market

Turkish Lira Finally Rebounds After Months of Lows

Stock Market

25 Nov 2021

Asian Shares Decline as Dollar Goes Higher

Asian Shares Decline as Dollar Goes Higher

The Index Today

Asian shares fell lower as the dollar went up on Thursday. Investors are looking towards hike rate policies in the U.S and other economies such as Japan.

Japan’s Nikkei rose by 0.8% whereas the MCSI’s broadest index of Asia-Pacific shares outside of Japan fell by 0.18%. In other markets, Australia’s declined by 0.1%, Chinese blue chips fell 0.3% and Hong Kong saw shed 0.35%.

In Hong Kong, Kaisa shares saw a large increase of 24% as they started traded again. The U.S dollar against the Japanese yen recorded its highest in almost five years at 115.3 yen. Federal Reserve policy makers said they are looking towards speeding up the tapering process and rate hikes. Due to Thanksgiving holiday on Thursday, U.S Treasuries and stock markets will remain closed.

The Bank of Korea increased their interest rate by 25 basis points due to increased concerns about rising household debt and inflation. Brent crude remained at $82.53 a barrel whereas U.S crude was recorded at $7856.

©Photo: moneycontrol.com