A gauge of Asian stocks pared early gains on Monday amid souring relations between China and the United States, with Hong Kong shares extending losses on mounting fears about future stability in the city. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.1% after starting higher with China's blue-chip CSI300 index down 0.2%. Hong Kong's HSI index dived 1.4% to a two-month low after sinking 5.5% on Friday. South Korea, Australia and New Zealand were trading higher while E-minis for S&P500 were also slightly upbeat. Japan's Nikkei jumped 1.5% after the Nikkei newspaper reported the country was considering a fresh stimulus package worth over $929 billion that will consist mostly of financial aid programmes for companies hit by the coronavirus pandemic. Analysts expect overall trading to be subdued with U.S. and British markets shut for public holidays. "Rising tensions between the U.S. and China around Hong Kong, trade policy and who is responsible for the 2020 … [Read more...] about Global markets reverse early gains, eyes on China-US trade relations
A) The Indian equity market struggled to find support after Monday’s (May 18) steep fall. This action impacted the sentiments such that the leveraged positions shrunk and worries over the normal resumption of economic activity (growth concerns) led to lack of buying interest. … [Read more...] about Every stage of market offers opportunities for both bulls and bears: Arun Kumar
“EIA weekly crude oil inventory data and European consumer confidence data are suggesting that risk appetite of global investors are on track and investors also sold dollars and returned to riskier assets,” Manoj Jain, Director (Head - Commodity & Currency Research) at Prithvi Finmart Pvt Ltd told Moneycontrol. … [Read more...] about Gold price today: Yellow metal slips on buoyant equities; support seen at 46,800
The 40bps repo rate cut was the need of the hour, given the depressed economic activity and collapse in demand. Another RBI rate cut was more or less factored in, and as a result, India's 10-year sovereign yields have moved lower by just 10 bps. Nevertheless, equity markets were expecting more from the central bank in terms of incremental Open Market Operations, respite to the banks in terms of not having to mark to market (MTM) their held-to-maturity (HTM) portfolio, and so on. Not surprisingly, banking stocks are down in trade. Though this announcement wasn’t a bazooka like the previous policy measures, there are some positive measures like the extension of term loan moratorium and an increase in lending limit to corporates. For banks, the extension of moratorium by another three months has two sides. A clear picture on the asset quality of the lenders will now emerge only by March 2021, instead of September 2020. There is a risk of the moral hazard issue creeping in, as … [Read more...] about Loan moratorium extension has two sides; the second one is ugly for banks
MUMBAI: Indian equity, currency, commodity and bond markets will be closed for trading on Monday, on account of Eid-Ul-Fitr. US markets also will be closed on Monday for the Memorial Day. In the week ahead, Indian market will continue to focus on the pace of spread of coronavirus infections, and investors eagerly await a roadmap on lifting or extension of lockdown which is currently scheduled up to May 31. A section of the market is also hoping for more stimulus measures from the government after the last set of measures failed to excite the Street. The GDP data for the March quarter, which is due on May 29 will provide some cues on the extent of the early damage to the lockdown which started in the second half of March. Corporate earnings of companies such as Housing Development Finance Corporation (HDFC), Dabur, Ceat, Lupin, TVS Motor, Equitas Holdings will be closely watched. “The market is feeding off expectations, expectations of more boosters from the government and … [Read more...] about Is the stock market open for trading today?
The dollar, which tends to behave like a safe-haven asset during market turmoil and political uncertainty, gained after China’s move to impose a new security law on Hong Kong heightened concerns about the stability of the city and global trade prospects. … [Read more...] about GLOBAL MARKETS-Stocks gain as German survey fuels optimism; dollar firm