Oil Prices Fall More Than A Per Cent

Oil Surges Above $52 on Saudi Assurances China Trade OptimismMore

Also crucial will be the outcome of trade negotiations between the US and China - the world's two biggest economies. The dispute triggered a shutdown of about one-quarter of the federal government, and Trump has said he will not sign any bill to reopen the government that does not include funding for the wall.

USA crude prices finished the week up 7.6 percent, their best showing in six months. The Shanghai Composite index was up 0.6 percent at 2,550.35. Shares fell in Taiwan but rose in Singapore, Indonesia and the Philippines.

On Wednesday, a clutch of U.S. Federal Reserve officials said they would be cautious about any further increases in interest rates so that the central bank could assess growing risks to an otherwise-solid U.S. economic outlook.

Asian markets are mostly higher as investors cheer more...

Markets were being supported by hopes that the trade war between Washington and Beijing may be resolved soon after officials said three-day talks this week concluded constructively and that further negotiations would likely follow this month.

The previous session, oil prices jumped 5 percent, capping off an eight-day rally that marked oil's longest sustained rise since July 2017.

China plans to set a lower economic growth target of 6-6.5 percent in 2019 compared with last year's target of "around" 6.5 percent, policy sources told Reuters, as Beijing gears up to cope with higher usa tariffs and weakening domestic demand. "The return of risk appetite, in turn, has pressured the USA dollar lower", DBS Group Research strategists Philip Wee and Eugene Leow said in a commentary.

Disappointing data from China added to concerns about the global economy. It said consumer prices rose by 1.9 percent in December from a year earlier, down from 2.2 percent in November. This was the slowest pace of growth in six months.

Benchmark 10-year notes US10YT=RR were last down 3/32 in price to yield 2.7261 percent after earlier rising to 2.747 percent, the highest since December 28. A Reuters report on Friday, which cited anonymous sources, said China plans to lower its targeted growth in 2019 from around 6.5 percent, to a range of 6 to 6.5 percent. Brent oil traded at $57.28 per barrel at 0620 GMT for a daily loss of 0.5 percent while WTI was at $48.55 a barrel at the same time showing a 0.4 percent loss. International Brent crude futures LCOc1 were up $2.71, or 4.62 percent, at $61.43 per barrel. It added another 23 cents to $52.59 per barrel on Thursday.

Brent for March settlement fell 16 cents to $61.28 a barrel on the ICE Futures Europe Exchange in London, and traded at an $8.81 premium to WTI for the same month. The market gained 512.56 points or 3.55 per cent for the week, its best run since October 2015.

CURRENCIES: The dollar weakened to 108.26 yen from 108.43 yen late Thursday. The Green Organic Dutchman Holdings increased 9.7 per cent, while Canopy Growth Corp. rose 1.93 per cent on the day and 33.8 per cent for the week.

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