1.02 - beginning of the month is marked by a slight strengthening of Asian stocks and high oil output
The beginning of February is marked by Facebook's ban of crypto advertisement and the rise of Asian stocks.
Yesterday Facebook issued a statement that said that cryptos are not as reliable for an ad that should be allowed on the biggest social network in the world.
There are 29 new rules concerning Facebook advertisements that from now are going to regulate every ad which will try and come on to the website. Network officials explain that so many rules are necessary because those, who are planning on getting the profits from them will try and find various holes un the list to put their product or offer up for millions to see.
Mark Zuckerberg says that the ads which are displayed on his website are supposed to be of something reliable and trustworthy, not just popular, especially if it can harm people’s assets.
Despite the good performance that the Asian stocks were showing previous week they still were not safe from the hit that the stocks have been taking since Tuesday.
MSCI index Asia-Pacific outside Japan is still not quite stable, having lost 0.3 percent, but still not this loss not as big ag 1.2% hit index took earlier this week.
Japan’s Nikkei showed the best results in 4 weeks and rose by 1.7% - after 4 weeks of falling this is very good for the investors.
KGI operating officer B. Kwong said that, “Investors are sensitive to medium and small stocks which do not have strong fundamentals as negative news in the market curbed their risk appetite and offered them an excuse to sell some shares,”.
US government has issued a paper that shows the recent results for national oil production output and the numbers are truly new.
As of this time, Americans output 10 million barrels of oil per day. These numbers are coming in since November and it is a first for the country since 1970-s.
With more than 10.000.000 barrels per day and climbing numbers, US is getting really close to the oil producing giants – Russia and Saudi Arabia. And with moderate prices for a barrel the out output will most surely grow.
MSCI Asia Pacific rose 0.3%.
S&P 500 keeps growing and is showing good results with the recent gain of 0.3%.
Nasdaq is down by a little – 0.01%
Yesterday’s yen rise was not sustained for today and for now has fallen by 0.3% - traded at the mark of 109.56 per one greenback.
Euro has fallen from yesterday’s gain and costs $1.2393.
Silver is traded at the point of $17.254 which is 0.33% less then after previous trade day and gold fell 0.4% - $1.340.41.
WTI is gaining more weight after yesterday’s fall +0.1% - $64.78 per barrel.
- by Mark Densel