Economy Financial News

It is the time of year when throngs of Western corporate chieftains and big-name investors descend on Beijing to pay homage to China’s leadership. This time, the focus will be just as much on who is there to greet them. Chief executives including Tim Cook of Apple, Cristiano Amon of Qualcomm, Albert Bourla of Pfizer and Stephen Schwarzman of Blackstone, as well as Bridgewater Associates founder Ray Dalio, are expected to attend the annual government-sponsored China Development Forum that starts on Sunday in Beijing, according to people familiar with the matter.

Chinese Foreign Minister Wang Yi has begun a diplomatic tour of New Zealand and Australia, meeting with his New Zealand counterpart Winston Peters in Wellington

Japan's central bank has raised its benchmark interest rate for the first time in 17 years, ending a longstanding policy of negative rates meant to boost the economy

Stocks are drifting as the wait begins to hear from the Federal Reserve on what it will do with interest rates

Sensex, Nifty 50 fell 1%- Tuesday wasn't a great day for Indian markets as the benchmark index remain in the red zone. The overall market capitalization of firms listed on the BSE dropped to nearly ₹373.9 lakh crore from ₹378.8 lakh crore in the previous session, resulting in investors collectively losing about ₹5 lakh crore in a single session. Read Full report 2.

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Payne Capital Management President Ryan Payne weighs in on the U.S. economy, arguing that purchasing power will continue to ‘strengthen’ for the American people.

TOKYO—The world’s nearly 12-year experiment with negative interest rates is over now that the last holdout, the Bank of Japan, has moved its key policy rate back to at least zero. Of the many unusual measures central bankers took over the past decade and a half, negative rates were among the most controversial, with uncertain benefits and potential risks. The experiment’s bottom line: Negative rates weren’t enough by themselves to pull economies out of a funk or lift inflation toward central banks’ 2% targets.

Competing with over 40 foreign banks in India, Maybank Indonesia's Global Banking Director, Ricky Antariksa, said the Bank seeks to continue supporting business and trade relations between Indonesia and India. "Maybank Indonesia has been present in India for over ten years, and we are committed to further support and capture our business flows while continuing to serve trade clients through our branch in Mumbai.

slowdown in the large economies such as those of US, UK and Europe, India’s economy is seen to be growing since there is a limited impact of other economies on India’s GDP/ profit growth. This is reflected, among other key points, in the Tata Mutual Fund’s Equity Outlook Report for March 2024. While commenting on the common challenge to the global economy, the report refers to the urgent need to bring inflation down without causing too much collateral damage to economy and labour markets.

Investing.com — Wall Street futures point to a cautious trading day ahead of the start of the latest Federal Reserve policy-setting meeting, especially after the Bank of Japan lifted its interest rates for the first time in almost two decades earlier in the session. Nvidia continues its annual developer conference, while Bitcoin suffers its largest one-day drop in two weeks..

₹1,250 crore from International Finance Corporation (IFC), the private-sector arm of the World Bank Group, by issuing sustainability-linked non-convertible debentures (NCD). It said the funds would be used to support decarbonisation through its new paint-manufacturing business.

Christy Mathai, Fund Manager -Equity, Quantum AMC, says what offers value to us currently is banks, especially the private sector banks where we have invested quite a bit heavily and even if there is more correction, we would love to add to some of these pockets. So, some of the consumption linked themes, be it FMCG, consumer discretionary, even with some correction we do not think they would come to our buy price in the sense if you were to look at stocks. So, even going forward, we would look to add more into some of these pockets where valuations have been reasonable, be it banks, be it consumer discretionary, especially autos. Two years back we added quite aggressively in the two-wheeler names.” Where do you stand on that argument that Indian midcap and smallcaps are way expensive right now and it is the largecap which have more value? What are your thoughts there? Christy Mathai: Clearly if you were to look at how the small and midcap index have done post COVID, it has done phenomenally well and especially last year. Last year, it was a combination of earnings growth plus the flows which came in a big way in the markets, especially in the small and midcap segment, especially the smallcaps.

Also Read: Oil prices rise amid attacks on Russian energy facilities, brent crude at $86/bbl On Monday Iraq announced its intention to reduce crude exports in the coming months by over 100,000 barrels per day compared to the previous month, aiming to counter any increase above its OPEC+ quota recorded in January and February. Iraq remains committed to the voluntary cuts established with the OPEC+ coalition, which have been extended into the second quarter. On the other hand, ongoing Ukrainian drone attacks targeting Russian oil refineries are exacerbating concerns about supply stability.

₹3 trillion between 2017 and 2022. The exercise gradually showed results: profit margins of public sector banks began improving as lending resumed. “The pain was severe, but beneficial effects started to show up from 2018, resulting in improved asset quality," the Reserve Bank of India noted in October 2023.

Investing.com-- Most Asian stocks fell on Tuesday amid persistent anxiety over an upcoming Federal Reserve meeting, while Japan's Nikkei 225 pared early losses after the Bank of Japan hiked interest rates but maintained a dovish stance.

Investing.com-- The Bank of Japan hiked interest rates for the first time in 17 years on Tuesday, marking an end to nearly a decade of ultra-loose policy on growing confidence that a «virtuous cycle» of its inflation targets and wage stability will be achieved. 

Investing.com-- Most Asian currencies fell on Tuesday as traders remained on edge before a Federal Reserve meeting this week, while the Japanese yen (USDJPY) weakened sharply after a historic rate hike by the Bank of Japan.

By Leika Kihara

Investing.com-- Oil prices hovered near a 4-½ month high in Asian trade on Tuesday as softer exports from Iraq and Saudi Arabia furthered the notion of tighter markets this year, although sentiment remained on edge before a Federal Reserve meeting. 

Advisors ignoring the rise in crude oil may be missing out on a gusher of profits for their clients.