• The global oil market is expected to rebalance in the second half of 2017, but further output increases among key producers such as Nigeria and Libya could hamper this process, International Energy Agency chief Fatih Birol said on Tuesday.
He said some key producers including Libya and Nigeria had significantly increased output in recent months.
• China's services sector grew at a slower pace in June as new orders slumped, signaling renewed pressure on businesses after a pickup in May and pointing to a softening outlook for the economy, a private business survey showed on Wednesday.
The findings reinforced analyst views that the world's second-largest economy is cooling after a strong start to the year, as Beijing cracks down on easy credit to contain a dangerous build-up in debt and defuse financial risks.
The Caixin/Markit services purchasing managers' index (PMI) dropped to 51.6 in June from 52.8 in May, when a surprise rebound broke four straight months of declines. The June figure marks the second-lowest business activity level for service providers in over a year.
• Japan's central bank will cut its inflation forecasts but hold off expanding stimulus this month, people familiar with the matter say, in another sign the bank is retreating from Governor Haruhiko Kuroda's initial pledge to do whatever it takes to achieve his ambitious inflation target.
• A paradigm-changing North Korean missile test has left the United States and China split over how to deal with the aggressive rogue state.
While China and Russia have called for concessions on both sides, the US so far has made no public move to open talks, instead opting to engage in a renewed military show of force with its South Korean ally.
Reference: Reuters,CNN
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