Global equities climb as oil prices plunge and US inflation data looms
Stocks rose on Wednesday after oil prices fell sharply, while markets await key US inflation figures later in the day.
Equity markets largely advanced on Wednesday after crude oil prices tumbled the previous day, driven by optimism that the US-Iran war may de-escalate and Saudi Arabia’s decision to restore about half of its East-West pipeline capacity. Brent fell more than 2% and WTI over 3%, briefly slipping below $90 a barrel before edging higher on Wednesday. The price decline helped lift stock indexes in Tokyo, Hong Kong, Shanghai and other Asian hubs, as well as in London, where UK growth data beat expectations.
Chinese markets received extra support from a new stimulus package and factory-output data showing growth for the first time since June. Traders now await the US personal consumption expenditure data for October, a key inflation gauge that could influence the Federal Reserve’s upcoming policy meeting, with some officials hinting that another rate hike this year remains possible.
Why it matters
Oil price movements and US inflation data directly affect global markets and future monetary policy.
How the sides frame it
LOW AGREEMENTCenter coverage highlights broad equity market gains driven by falling oil prices and geopolitical optimism, while right-leaning coverage focuses on a sharp decline in Hengyuan Refining shares caused by profit-taking and market safeguards.
CENTER
Centrist coverage frames the story around global equity advances linked to lower oil prices, de-escalation hopes in the US-Iran conflict, and upcoming US inflation data.
RIGHT
Right-leaning coverage frames the story around a steep drop in Hengyuan Refining shares due to profit-taking, short-selling suspension, and recent corporate developments.
The right emphasises
- Hengyuan Refining shares fell over 14% amid sharp profit-taking.
- Bursa Malaysia suspended intraday short-selling due to the slide.
- Earlier rally was driven by earnings rebound, a supply deal with Shell, and dividend payouts.
How this story developed
- Sep 20 Oil prices tick up after Houthi missile and drone strike on Riyadh
- Sep 24 Iran’s president publicly rejected any surrender to the United States at the UN.
- Sep 28 Asian equity markets opened with restraint on Monday as oil prices surged amid lingering US-Iran tensions, while higher bond yields added pressure.
- Sep 28 Oil prices spiked sharply, pushing bond yields higher and prompting mixed moves in Asian equities.
- Sep 29 Trump turned down Iran’s peace proposal at the United Nations.
In this story
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