TSX rides mining, energy stocks to gains as U.S. markets dip; Canadian dollar down

collected by :Victor Alphen

as informed in Mining and energy stocks helped move Canada's largest stock index higher today, as U.S. markets fell into the red. The S&P/TSX composite index was up 63.20 points to 15,998.57. In New York, the Dow Jones industrial average tumbled 100.12 points to 23,358.24. The S&P 500 index edged down 6.79 points to 2,578.85 and the Nasdaq composite index lost 10.50 points at 6,782.79. The Canadian dollar was trading at 78.23 cents U.S., down 0.23 of a U.S. cent.

Asia markets close lower; energy stocks tumble as oil extends losses

The Nikkei 225 tumbled 1.57 percent, or 351.69 points, to close lower for the sixth straight session at 22,028.32. Blue-chip tech stocks edged down and automakers were mixed: Samsung Electronics closed down 1.04 percent and Hyundai Motor rose 0.62 percent. Down Under, the S&P/ASX 200 edged down 0.58 percent to close at 5,934.24, marking its fourth consecutive session of declines. Energy stocks dragged on the broader market after oil prices declined: Beach Energy tumbled 3.62 percent and Santos lost 2.23 percent on the day. Mainland markets, meanwhile, finished lower: The Shanghai Composite lost 0.79 percent to close at 3,402.54 and the Shenzhen Composite lost 1 percent to close at 2,005.61.

ADB OKs first country strategy for Turkmenistan to back diversification of energy markets

As it stated in By TrendThe Asian Development Bank's (ADB) Board of Directors has endorsed a 5-year Country Partnership Strategy for Turkmenistan to support regional cooperation and economic diversification during 2017-2021. The Bank announced that the document is ADB's first full Country Partnership Strategy (CPS) with Turkmenistan since the country joined ADB in 2000. "ADB will work with the government and people of Turkmenistan to build on this progress by enabling the country to diversify its energy markets, improve its regional transport connectivity, and diversify its non-hydrocarbon economy," he added. ADB will also support knowledge work on economic diversification and economic reforms. Regional cooperation and integration, particularly within the Central Asia Regional Economic Cooperation (CAREC), which Turkmenistan joined in 2010, is a priority area of the CPS.