HONG KONG, Oct 15, 2024 (BSS/AFP) - Oil prices extended losses Tuesday after a report said Israeli Prime Minister Benjamin Netanyahu had told US President Joe Biden he would not strike Iran's crude or nuclear facilities in retaliation for a missile attack earlier this month. However, equity traders were broadly upbeat, pushing most Asian markets higher after another record close for the Dow and S&P 500 on Wall Street, with the third-quarter reporting season about to get under way. Adding to the downward pressure on oil is concern that China would struggle to reignite the world's second-biggest economy after a much-anticipated news conference on Saturday left investors wanting. The disappointment, which came after another briefing that fell short last Tuesday, has dampened a rally on Chinese markets, with Hong Kong and Shanghai paring the blockbuster surge that greeted the initial batch of stimulus. Key data later in the week, including on retail sales, trade and economic growth, could provide a fresh update on the state of the country's finances.
