Asian stocks pulled higher by Wall St jobs rally but China caution prevails
Monday, 9 December 2019 SYDNEY: Asian stocks edged up on Monday, catching some of Wall Street's momentum after surprisingly strong US jobs data although regional gains were capped by concerns about China's economy due to the prolonged Sino-US trade war. Japan's benchmark Nikkei advanced 0.3 per cent while MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.3 per cent, with Australian stocks and South Korea's Kospi up 0.2 per cent and 0.6 per cent, respectively. The modest Asian gains compared with Wall Street, which rose to near record...
Wall Street ended solidly higher on Friday as a strong jobs report and optimism about U.S.-China trade negotiations ahead of an upcoming deadline helped stoke investor risk appetite. Yahaira Jacquez reports.
The United States has reiterated its call urging China to allow scientists and doctors to investigate the origins of COVID-19, the pandemic which emerged from China. "There are global challenges in Asia where CCP broke their promises... COVID, that we are all dealing with, emanated from China. We continue to call on them to be transparent and open to allow scientists and doctors to investigate," said Morgan Ortagus, Spokesperson, US State Department.
Union External Affairs Minister, S Jaishankar attended 2nd meeting of India-Central Asia Dialogue 2020 on October 28 via video-conferencing. Jaishankar said, "India and central Asia share ancient, historical and cultural linkages. We see central Asia as India's extended neighbourhood. We share common geography. India was one of the first countries to establish diplomatic relation with the central Asian countries. Since then our relationship has grown from strength to strength. As developing nations we've common perspectives on development challenges and share common views on regional and international issues. We face similar challenges on terrorism, extremism and drug trafficking and are natural partners in our developmental journey."
Impossible Foods' faux beef burgers will be sold in grocery stores in Hong Kong and Singapore starting Tuesday, the company said as it vies to bolster its presence in Asia and before entering the potentially lucrative mainland China market. Gloria Tso reports.
U.S. stock indexes closed lower on Friday to cap Wall Street's biggest weekly sell-off since March, as losses in richly priced tech heavyweights, a record rise in coronavirus cases and jitters over the presidential election snuffed investor sentiment. Conway G. Gittens has the market round-up.
Wall Street banks and their employees have been leaning further left in recent years, increasing the proportion of cash allocated to Democrats. Democratic presidential nominee Joe Biden has dramatically outpaced Republican President Donald Trump in raising funds from the banking industry ahead of the Nov. 3 election. Rosanna Philpott explains why.
U.S. stocks tumbled on Monday, with the S&P 500 posting its biggest daily decline in four weeks, as soaring coronavirus cases and uncertainty about a fiscal relief bill in Washington dimmed the outlook for the U.S. economic recovery. This report produced by Yahaira Jacquez.
Wall Street lost ground on Tuesday, with halted COVID-19 vaccine trials and an elusive U.S. stimulus agreement weighing on sentiment as third quarter earnings season got underway. Fred Katayama reports.
Equity benchmark indices traded lower during early hours on September 22 while Asian markets opened weak after the sharp pullback overnight in US stocks. At 10:15 am, the BSE S-P Sensex was down by 301 points or 0.79 per cent at 37,733 while the Nifty 50 moved lower by 66 points or 0.59 per cent at 11,184. All sectoral indices at the National Stock Exchange were in the negative terrain with Nifty realty dipping by 4.6 per cent, PSU bank by 3.2 per cent, metal by 2.9 per cent and auto by 2.3 per cent. Among stocks, energy major GAIL was the top loser after sliding 4.9 per cent to Rs 83.85 per share. Adani Ports fell by 4.5 per cent and Tata Motors by 4 per cent. Tata Steel, Hindalco, ONGC, Bajaj Finance, Zee Entertainment and Bharti Infratel too traded lower by over 3 per cent. However, Tata Consultancy Services and ICICI Bank were in the green with thin margins. Meanwhile, Asian markets opened weak even after the sharp pullback overnight in US stocks. Investor sentiment took a hit with possible delays in expanded US stimulus. The undertone remained cautious as Europe sees some countries lockdown for the second time as COVID-19 cases jump which could hurt economic activity. Hong Kong shares of HSBC and Standard Chartered fell more than 2 per cent each as global banking stocks remained under intense pressure on reports about financial institutions allegedly moving illicit funds. MSCI's broadest index of Asia Pacific shares outside Japan was down by 0.5 per cent. Hong Kong's Hang Seng index was down by 0.5 per cent while Japanese markets were closed for a public holiday.
Equity benchmark indices maintained an upward trajectory on Friday after the Reserve Bank of India's (RBI) kept repo rate unchanged and continued with accommodative stance. Though the central bank sees FY21 GDP contracting by 9.5 per cent and may turn positive in Q4, several market experts said many measures have been introduced to maintain comfortable liquidity conditions. The BSE SandP Sensex closed 327 points or 0.81 per cent higher at 40,509 while the Nifty 50 gained by 80 points or 0.67 per cent at 11,914. Among stocks, State Bank of India rose by 3.6 per cent to Rs 198.55 per share. Private lenders ICICI Bank, Axis Bank and HDFC Bank ticked up by 4 per cent, 3.7 per cent and 3.6 per cent respectively. IT major Wipro was up by 4.4 per cent to Rs 375.25 per share while infrastructure conglomerate Larsen and Toubro advanced by 3.3 per cent to close at Rs 910.05 per unit. However, those which lost were Grasim, Hindalco, Sun Pharma, Nestle India, Britannia and Tata Motors. Meanwhile, Asian shares were mixed as revived hopes for a US stimulus deal eclipsed weaker-than expected jobs data. Nikkei dipped by 0.12 per cent while Hong Kong's Hang Seng was down by 0.31 per cent. But South Korea's Kospi rose by 0.21 per cent.
Equity benchmark indices shaved off early gains but closed in the positive zone on Thursday following a rally in IT stocks amid dynamic global cues. The BSE SandP Sensex closed 304 points or 0.76 per cent at 40,183 while the Nifty 50 gained by 96 points or 0.83 per cent at 11,835. Tata Consultancy Services rose by 3 per cent to Rs 2,819 per share after reporting 6.6 per cent sequential growth to Rs 7,475 crore in the July to September quarter. It also decided to buy back up to 2.2 billion dollars in shares. HCL Technologies and Infosys were up by 2.6 per cent each. Pharma major Cipla ticked up by 4.9 per cent, Sun Pharma by 2.3 per cent and Dr Reddy's by 1.9 per cent. However, energy majors GAIL and ONGC dipped by 3 per cent and 2.8 per cent respectively. Eicher Motors, ITC, Asian Paints and Reliance Industries too traded with a negative bias. Meanwhile, Asian shares climbed to a one-month high as renewed hopes for more US stimulus helped restore investor confidence. Japan's Nikkei added 0.96 per cent while South Korea's Kospi moved up by 0.21 per cent. But Hong Kong's Hang Seng fell by 0.56 per cent.
Equity benchmark indices witnessed smart gains on Tuesday led by a jump in financial, private bank and auto stocks while Asian stock markets rose to a two-week high. The bounce on bourses came after US President Donald Trump was discharged from hospital following treatment for Covid-19 and prospects for a fresh US stimulus package appeared to brighten. The BSE SandP Sensex closed 601 points or 1.54 per cent higher at 39,575 while the Nifty 50 gained by 159 points or 1.38 per cent at 11,662. Sectoral indices at the National Stock Exchange were mixed with Nifty financial service moving up by 3.1 per cent, private bank by 2.3 per cent and auto by 1.2 per cent. One of his doctors though cautioned that he may not be out of the woods yet. Japan's Nikkei added 0.52 per cent while Hong Kong's Hang Seng moved up by 0.9 per cent and South Korea's Kospi advanced by 0.34 per cent.
Wall Street's main indexes hit record highs on Thursday following news that the United States had reached a "deal in principle" with China to resolve a trade war that has rattled markets for nearly two..