Market Update:
US share markets fell on Friday as investors booked profits at the end of the week, the S&P500 index was down by 0.9% and the Dow Jones fell 0.8%; OPEC and its allies aim to cut oil supply in 2019, reversing a near year- long expansion, with Saudi Arabia reasserting its role as a swing producer, announcing fewer shipments from next month; China is set to provide their private sector with greater access to the nation’s mixed ownership reform by further easing investment restrictions, promoting projects in transport, energy and environmental protection industries; Base metal prices fell by up to 2.7% on the LME with nickel down the most at -2.7%, metals were down 3.9% over the week; The spot gold price was trading near US$1,209 an ounce in late US trade, the gold futures price fell by 1.3%; Alibaba Group Holding Ltd. logged 213.5 billion yuan ($30.7 billion) in sales setting a new singles day record.
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