By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

• Asia shares hit 14-mth lows, yen advances on trade jitters
• Asia shares ex-Japan lowest since July last year
• Tech sector hit by drop in chip stocks, social media
• Fears new US tariffs on China could come at any time
• Yen and Swiss franc in favour as safe harbours

Oil Markets

• Oil prices climb as US crude inventories drop
• US crude inventories fall to Feb-2015 low of 401.49 mln bbls
• But diesel, gasoline stocks rise after lacklustre driving season
• US crude oil production at 11 mln bbls per day
• Brent crude futures up 0.2 pct at $76.62 a barrel (0056GMT)
• US WTI crude futures up 0.2 pct at $67.90 per barrel

Precious metals

• Gold up as dollar slips against yen on trade issues
• Spot gold up 0.2 pct at $1,202.43 (0049GMT)
• US gold futures up 0.3 pct at $1,207.60 an ounce

Grains

• Wheat poised to end week 6 pct lower
• Most active CBOT wheat futures down 0.1 pct at $5.13-1/2 per bushel (0148GMT)
• Most active corn futures down 0.3 pct at $3.65-1/4 per bushel
• Most active soy futures nearly unchanged at $8.39 per bushel
• Most active rice futures unchanged at $10.88 per hundredweight

Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]

• South Africa’s state capture inquiry continues
• South Africa FX reserves data expected [prev. $50.5B]

Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]

• NHC says 50 pct chance of cyclone off west coast of Africa
• Zambia aims to limit fiscal deficit to 5.1 pct of GDP by 2021
• US should suspend military aid to Uganda – lawyer for critic of Museveni
• Djibouti, Eritrea agree to normalise ties strained since 2008
• Rand firms after South African current account narrows sharply
• Africa Crude – BP heavy bidder again for Nigerian crude, tenders awarded
• Egypt to get $1 bln for basic goods from Islamic Bank – ministry
• Nigeria central bank debits StanChart, Citi over MTN funds – sources
• Ethiopia PM says China will restructure railway loan
• Libya to reopen Tripoli airport on Friday – govt
• Kenya court suspends 16 pct VAT on fuel amid protests
• South Africa launches new probe into state contract with Germany’s SAP
• Nestle to buy coffee from Zimbabwe in development push
• MTN faces possible Moody’s downgrade after Nigeria’s cash demands
• White unionised workers strike at Sasol plant over black share scheme
• Libya’s National Oil Corp 2018 revenue already above last year’s
• South Sudan soldiers sentenced to jail for murder, rape in 2016 hotel raid
• Kenyan police apologises over arrest of Chinese journalists
• Athletics-Kenyan officials cleared of extortion charges
• Moody’s places South Africa’s MTN on review for downgrade
• SAP says cooperating with South African probe of water ministry contract
• Ramaphosa says South Africa to recover from recession soon
• South Africa payments start-up Yoco raises $16 mln
• Kenya cancels import licence for fuel dealers over strike
• Gambia president tells China previous Taiwan ties a “huge mistake”
• Uganda’s national oil firm, China’s CNOOC sign exploration deal
• Ugandan shilling a touch firmer on charity dollar flows
• China says African countries don’t think cooperation adds to debt
• South Africa current account deficit narrows to 3.3 pct/GDP – c.bank
• Moody’s says South Africa recession shock credit negative
• Egypt to offer 4.5 pct stake in cigarette maker Eastern Company
• South Sudan to pay damages to foreign aid workers raped in hotel raid
• Ethiopia reopens embassy in Eritrea in further warming of ties
• South Africa’s FirstRand FY profit up 12 pct, beats forecasts
• South African iron ore miner Assore reports profit fall on stronger rand
• South African recession is “transitional issue” – Ramaphosa
• South Africa’s Sanlam posts 10 pct rise in H1 profit

N.B. Full stories of above headlines are available on Reuters