* U.S. economic growth beats expectations. * Solid GDP data offsets signs of economic weakness. * Oil prices firm on China demand optimism. By Herbert Lash and Huw Jones.
Copper prices barely budged for a seventh consecutive session on Thursday, with the week-long Lunar New Year holiday in top consumer China reducing market activity and demand for metal.
Hong Kong shares jumped on Thursday, marking a gain on the first day of trade in the year of the rabbit, with local stock catching up with gains in other markets as trade resumed after the three-day Lunar New Year holiday. ** Mainland China markets are due to resume on Monday.
Hong Kong shares jumped on Thursday, on course to mark a gain on the first day of trade in the year of the rabbit, with local stock catching up to gains in other markets as trade resumed after the three-day Lunar New Year holiday. Mainland China markets are due to resume on Monday.
Copper prices edged lower for a second day on Wednesday, weighed down by weak demand due to the absence of China, the biggest consumer, where markets are closed for a week-long Lunar New Year holiday.
Copper prices inched higher on Wednesday, supported by improving demand prospects in top consumer China and a soft U.S. dollar, even as trading remained muted during the Chinese Lunar New Year holidays. Three-month copper on the London Metal Exchange was up 0.48% at $9,359.50 a tonne, as of 0252 GMT.
Copper prices crept lower on Tuesday, pressured by a firmer dollar, amid uncertainty over a potential global recession and demand in top metals consumer China.
Kaleido Intelligence’s International Travel Data Hub 2023 predicts a substantial increase in annual inbound and outbound international travel numbers in 2023, representing a 165% growth over 2020, with global trip volume reaching over 1.7 billion.
U.S. Treasury Secretary Janet Yellen said on Monday on a visit to Zambia it was critically important to restructure its debt, and she believes progress could be made after her frank talks last week with China, which is owed almost $6 billion by Lusaka.
Loans committed by China's two main trade policy banks fell to a 13-year low of $3.7 billion in 2021 due to Beijing curtailing funding for large-scale oil projects, a study from Boston University Global Development Policy Center showed.
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