Japanese stocks surged as the yen hit a three-month low after Prime Minister Ishiba’s coalition lost its parliamentary majority, raising uncertainty over policy direction. The Nikkei gained 1.5%, while the yen weakened, reflecting political instability and potential fiscal adjustments.
Posts in category Economic Times
PBOC activates open market outright reverse repo operations facility (28-10-2024)
China’s central bank has activated a new monthly reverse repo operations facility aimed at maintaining liquidity and enhancing monetary policy tools. Covering three- and six-month tenors, this mechanism will help counteract the upcoming expiration of medium-term lending facilities, ensuring financial stability.
Yes Bank shares in focus after lender’s Q2 PAT shoots up 145% YoY to Rs 553 crore (28-10-2024)
Yes Bank’s profit surged 145% to Rs 553 crore in Q2FY25, driven by a 15% rise in interest earnings. Net interest income grew 14.3% YoY to Rs 2,200 crore, while operating profit increased 21.7% YoY. Gross NPAs declined to 1.6%, and total deposits rose 18.3% YoY.
Q2 results today: Airtel, Sun Pharma among 173 companies to announce earnings on Monday (28-10-2024)
Today, 173 companies will disclose their Q2 earnings, including Airtel, Sun Pharma, and Adani Power. Bharti Airtel is anticipated to post robust performance with significant net profit growth, while Sun Pharma is expected to see healthy revenue growth driven by its domestic operations and specialty sales in the US market.
Waaree Energies shares to list on exchanges today. Here’s what GMP indicates (28-10-2024)
Today, Waaree Energies shares are set to debut on the exchanges. With a grey market premium of Rs 1225, the stock is expected to list at an 81% premium over the issue price. The Rs 4321 crore IPO saw 76 times subscription. Investors are advised to consider long-term holding due to the company’s strong fundamentals and growth potential.
Big movers on D-Street: What should investors do with Coal India, YES Bank and ICICI Bank? (28-10-2024)
Equity indices decline for the fifth session due to selling pressure, foreign capital outflows, and muted earnings growth. Stocks in focus include Coal India (down 3.6%), YES Bank (down 2.6%), and ICICI Bank (up 0.6%). Analysts provide key support and resistance levels for these stocks.
Gold eases as dollar strengthens, traders await Fed policy cues (28-10-2024)
Gold prices fell on Monday, pressured by a stronger U.S. dollar and rising bond yields, while investors awaited clarity on the Federal Reserve’s monetary policy. Meanwhile, geopolitical tensions in the Middle East and an upcoming U.S. employment report added to the market uncertainty.
Yen slips as Japan’s election result clouds BOJ rate hike prospects (28-10-2024)
The yen hits a three-month low following Japan’s ruling coalition losing its parliamentary majority, triggering investor concerns over slower interest rate hikes. Meanwhile, the dollar gains strength on rising U.S. yields and economic optimism, leading to its largest monthly rise in over two years.
Oil slides on Mideast respite, yen down as Japan govt loses majority (28-10-2024)
In Japan, the LDP which has ruled for most of the post-war years and junior coalition partner Komeito won 215 lower-house seats at Sunday’s election, public broadcaster NHK reported. This falls well short of the 233 needed for a majority and the yen was squeezed since investors figured any government that emerges is likely to make a dovish shift in economic policies.