Highlights
- According to Global Times, production of the first antiviral drug approved by Chinese authorities to treat nCoV, Favipiravir, is reportedly well in progress and is expected to hit the market later in February with the first batch estimated to reach 100,000 pills.
- A US Judge has dismissed the Huawei lawsuit against the US which alleged that the US improperly limited its US business. according to Media reports. Huawei said it will consider further legal options.
- The Dow fell for a third consecutive day following Apple’s profit warning as Asian equities traded with cautious gains with the Nikkei 225 outperforming.
- DXY remained near recent highs, USD/JPY reclaimed 110.00, EUR and GBP traded sideways
- Yuan saw weakness as PBoC set USD/CNY mid-point above 7.000, the weakest fix since Dec 25th, 2019
Oil
- WTI and Brent front-month futures saw gains in late APAC trade as prices rose above USD 52.50/bbl and USD 58.00/bbl respectively following sideways trade throughout the bulk of the session
- Libya’s International government has suspended peace talks following attacks on Tripoli ports by Haftar-backed forces according to Al Jazeera. Libya NOC said fuel tankers are being evacuated from ports after shelling near IPG tanker.
- US Special Envoy to Venezuela Abrams said the US will hold further conversations with Spanish officials regarding Venezuela oil, where he would expect some of Repsol’s (REP SM) operations will have to change in the region
