Posts in category Economic Times
Asian stocks surge on tech boost; yen extends gains to cap wild week (03-05-2024)
MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.5% and was set for a second straight week of gains. Hong Kong's Hang Seng Index spiked 2% higher, on course for a 5% gain for the week.
Indian rupee to keep in a tight range amid constant RBI intervention: Reuters poll (03-05-2024)
A recent drop in foreign exchange reserves to $640.33 billion, a six week low, shows the central bank has been selling dollars amid conflict in the Middle East and delayed expectations for rate cuts by the U.S. Federal Reserve.
Gold flat ahead of US payrolls data, set for 2nd weekly drop (03-05-2024)
The U.S. central bank held interest rates steady on Wednesday and indicated it is still leaning towards eventual reductions in borrowing costs, but put a red flag on recent disappointing inflation readings that could make those rate cuts a while in coming.
Oil steadies, heads for weekly drop on U.S. economy worries (03-05-2024)
Brent crude futures for July rose 16 cents to $83.83 a barrel by 0008 GMT. U.S. West Texas Intermediate crude for June was up 19 cents to $79.14 per barrel.
Yen poised for best week in over a year; dollar waits on US jobs data (03-05-2024)
The yen rose to a session-high of 152.895 per dollar in early Asia trade and was set to clock a weekly gain of more than 3%, its largest since December 2022. It was last more than 0.4% stronger at 152.96 per dollar.
Wall Street ends higher as Fed signals dovish bias; jobs report eyed (03-05-2024)
The tech-heavy Nasdaq led the way, advancing 1.5% with healthy boost from chip stocks after Qualcomm reported quarterly sales and profit above analysts' expectations.
Six Adani group companies receive show-cause notices from Sebi (03-05-2024)
These notices were issued following Sebi's investigation into the allegations made against the Adani Group by US-based Hindenburg Research.
Telecom shares have many tailwinds, could gain 9-16%: BofA (03-05-2024)
BofA said it expects a tariff hike of 20-25% as against earlier expectation of 10-15%, which could improve cash flows that will be utilised by telecom companies to grow high-margin fiber broadband and enterprise or data-center offerings.