world markets in brief

World Markets Daily News – In Brief – 25/05/2023



Hong Kong’s Hang Seng index led losses in Asia on Thursday, falling about 2% to close at 18,746.92 — the lowest level this year.

The Bank of Korea maintained its base rate at 3.5% during its May meeting, as widely expected, holding rates for the third straight time.

The Indian rupee depreciated 8 paise to 82.76 against the US dollar (22.55 versus the UAE dirham) in early trade on Thursday, weighed down by the strength of the American currency,


Norges Bank, Norway’s central bank noted in a report that the government shouldn’t wait for European legislation that would regulate cryptocurrency assets but introduce its own regulations.

European gas prices dropped over 5% on Thursday (May 25) as concerns over the Old Continent’s economy grew, seemingly dampening the commodity demand.

Deutsche Bundesbank President Joachim Nagel (May 25) stated on Thursday that the European Central Bank (ECB) will continue tightening its monetary policy as it aims to bring inflation down from current high levels.


Fitch Ratings said it placed the United States AAA credit rating on negative watch due to the uncertainties surrounding the debt ceiling negotiations.

Seacrest plans 300 new oil and gas wells in Brazil, aiming to increase its production nearly three times.

Mexico considers PPP to buy Citibanamex, AMLO says.


– South Africa’s central bank will likely extend its tightening cycle and push rates cuts further into the future amid countrywide power outages and currency weakness, Reuters reported citing analysts.

The United Nations is working with the African Export-Import Bank (Afreximbank) to create a platform to help process transactions for Russian exports of grain and fertilizer to Africa, the top U.N. trade official told Reuters on Wednesday.


– Turkey’s runoff election is compounding delays to restart roughly 450,000 barrels per day of Iraqi crude oil exports shipped out of Turkish port Ceyhan, analysts and market sources told CNBC.