Asian markets and oil prices remain steady

In the last week of September 2022, the Asian and other markets were seen in a stable condition. In Japan, the Nikkei 225 climbed by 0.68%, and the Topix index also managed to rise by 0.8%. In Australia, the S&P/ASX 200, managed to rise by 0.23%. The Kosdaq managed to gain about 0.08%. The Shanghai Composite in mainland China managed to rise by 0.33% and the Shenzhen Component climbed by 0.317%. Industrial profit for many nations is stable as the activities are in full swing. It is believed that in 2023, the Asian stock markets are likely to deliver very good performance. The economic activities will attain full-speed, and this will help the stock market. The authorities and government in all countries are providing sufficient support to accelerate domestic activities.

The investors know that smart and well-planned decisions can change their fortune. The conscious and astute investors consider other factors such as demand, supply and inflationary pressures, but overall the market is stable. As per the World Bank, in East Asia and Pacific, the growth forecast is likely to be around 3.2%. As per the World Bank, China is expected to grow by 4.5% in 2023. Most of the Asian and European economies are in stable condition. The Dollar Index climbed to an impressive position after touching its highest level in the last two decades. It was standing at 114.527. The Swiss heating and ventilation manufacturer Belimo Holding managed to rise impressively. It climbed more than 9% as it was reported that there is rising demand for home renovation.

Oil prices remain steady and strong

The demand for oil is gradually increasing as many sectors are working in full swing. The major oil producers are trying their best to keep balance between prices and supply. The Brent crude futures managed to rise by 0.3% or 26 cents. It was standing at $84.32 per barrel. The US West Texas Intermediate (WTI) crude futures climbed by 19 cents. It was standing at $76.90 per barrel. The value of the US dollar also influence the price of oil. It was reported that the OPEC+ was constantly monitoring the oil price situation. The organization wants a proper balance. This year, OPEC+ has enhanced oil production due to growth in demand. The oil supply has been disrupted due to the Russia-Ukraine war. Despite all challenges, oil producing countries are doing their best to maintain the balance.

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