{"id":128199,"title":"What happened overnight – Thursday 16th October 2025","publisher":"Share Talk","author":"sharetalk","published":"2025-10-16T07:27:19+00:00","modified":"2025-10-16T07:27:19+00:00","canonical_url":"https://www.share-talk.com/what-happened-overnight-thursday-16th-october-2025/","markdown_url":"https://www.share-talk.com/what-happened-overnight-thursday-16th-october-2025.md","json_url":"https://www.share-talk.com/what-happened-overnight-thursday-16th-october-2025.json","category":"B2B","categories":["B2B","Blogs","Technology","Technology, Media & Telecoms"],"tags":["AI-focused","Asia","Asia-Pacific index","Asian market","Asian markets","Asian trading","Bank of England","Bank of Japan","Bank of New York","Beijing","bond market","Brent Crude","china","chips","currency","Dow Jones","European Union","Federal Reserve","Hong kong","India","Jakarta","Japan","JP Morgan","Manila","Nikkei","Nvidia","Russia","semiconductor","Sensex","Seoul","shanghai","Shenzhen Composite Index","Singapore","South Korea","Sydney","Taipei","Treasury yields","U.S. bond market","U.S. dollar","U.S. stocks","U.S. Treasury","US dollar","US recession","US treasuries","USA","Wall Street","Wellington","White House"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2025/09/overnight-1-1.webp?fit=750%2C406&quality=80&ssl=1","format":"news","language":"en-GB","content":"#### **Oil Rebounds from Five-Month Low as Trump Says India to Halt Russian Imports**\n\n**Oil prices** edged higher from recent **five-month lows** on Wednesday after **Donald Trump** claimed that **Indian Prime Minister Narendra Modi** had agreed to **stop buying Russian oil**, raising expectations of tighter global supply.\n\n**West Texas Intermediate (WTI)** traded close to **$59 per barrel**, while **Brent crude futures** hovered just below **$62 per barrel**.\n\nIndia is **Russia’s second-largest oil customer after China**, but relations with Washington have been strained after the **US administration imposed a 50% tariff on Indian goods**, which President Trump described as **punishment for India’s continued energy trade with Moscow**.\n\n---\n\n#### **Asian Markets Gain on Wall Street Rally and Rate Cut Hopes**\n\nMost **Asian stock markets** advanced, following a positive session on **Wall Street** and optimism that the **US Federal Reserve** will continue to **cut interest rates**.\n\nJapan’s **Nikkei 225** rose **0.8% to 48,069.71**, lifted by strong corporate earnings and rate-cut expectations. **South Korea’s Kospi** surged **1.8% to a record 3,722.67**, buoyed by heavy buying in **tech and auto stocks** amid optimism over progress on **US-Korea trade negotiations**. **Samsung, Hyundai, and Kia** were among the top gainers.\n\nIn **China**, the **Hang Seng Index** fell **0.4% to 25,799.27**, while the **Shanghai Composite** edged up **0.1% to 3,916.10**. **Australia’s S&P/ASX 200** climbed **0.9% to 9,068.40**, breaking the **9,000-point mark for the first time**, helped by strength in **gold miners** as bullion prices rose **1.2% to $4,252.30 per ounce**.\n\nAustralia’s **jobless rate** also rose to **4.5% in September**, the highest in four years, fuelling expectations that the **Reserve Bank of Australia** could **cut interest rates as early as next month**.\n\nElsewhere, **India’s BSE Sensex** added **0.5%**, and **Taiwan’s Taiex** advanced **1.5%**.\n\n---\n\n#### **Wall Street Mixed as Bank Earnings Boost Sentiment**\n\nIn the US, stocks posted modest gains after a volatile session. The **S&P 500** rose **0.4% to 6,671.06**, recovering from a sharp intraday swing that nearly erased early gains. The **Nasdaq Composite** climbed **0.7% to 22,670.08**, while the **Dow Jones Industrial Average** slipped **less than 0.1% to 46,253.31**.\n\nShares in **Morgan Stanley** and **Bank of America** each rose **over 4%** after **third-quarter results** beat market expectations, helping to lift broader financial stocks.\n\n**US Treasury yields** edged higher, with the **two-year note closing around 3.5%**, as traders bet the **Federal Reserve** will **cut rates again later this month**."}