The price of oil conquer new 15-month high during today’s e-commerce in Asia, supported by the recent good economic data for the third largest economy in the world – China, which renewed expectations for the recovery of global economy this year. Depreciation of the dollar to a three-week low against the euro, and extremely low temperatures in most of the northern hemisphere, also raised the price of energy input at the beginning of the week to the highest level since October 2008. Economic optimism contributed data on exports to China, which increased by 17.7% yoy in December. This is the first annual export growth for the past 14 months. China is expected to be engine of global economic growth this year. Moreover, today it became clear that oil imports in the country rose to a record 203.8 million metric tons last year. China is the second largest energy consumer in the world after the United States. U.S. light crude for delivery in February to 0.1 percent more expensive to 82.75 dollars a barrel during electronic trading today on the stock exchange in New York. This is the highest price level since October 14, 2008.
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The rally in Asian and Pacific stock markets continue after China reported the export of its first annual growth for the past 14 months in December. The growth of imports of goods into the country to record levels has an even better sign for the prospects of the global economy. Moreover, last year China has become the biggest market for cars gain on U.S. forward Bloomberg. Sales of cars, buses and trucks in the country increased by 46% yoy to 13.6 million units compared to 10.4 million units in the United States. The regional index MSCI Asia Pacific, excluding Japan, rose by 1.1 percent during today’s session at 432.24 points. Most of extractive companies that helped after the delivery of copper in three months rose by nearly 3% to 7 675 dollars per metric ton on the London Stock Exchange. Gold price, in turn, jumped to a record 1.8 percent last month to 1 158.4 dollars an ounce. With increased session ended in Shanghai, where the Shanghai Composite rose by 0.5 percent to 3 212.75 points, led by financial companies and those in the real estate sector. Yesterday it became clear that exports to China increased by 17.7% yoy in December to 130.7 billion dollars, while imports of Asian countries increased by nearly 56 percent to a record high value of 112.3 billion dollars. Complete with increased trade and exchange in Hong Kong where the Hang Seng added 0.5% to its value at 22 411.52 points. More strongly increased the index of blue chips in Australia S & P / ASX 200, which rose by 0.8 percent to 4 950.7 points, supported by extractive companies. New Zealand NZX 50 closed session, however, negative territory, losing 0.2 percent to 3 303.75 points.
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