Economy Financial News

Chakri Lokapriya, CIO & MD, TCG AMC, says “one of the big calls that we took was we do not hold HDFC Bank at all after many, many years simply because it is a great company, but the valuations are still kind of reflect some of the integration issues that the company has, which will continue to impact its margins for a good some time more to come. In general, we do not own banks as much, but we are making up for that through NBFCs.” What has been your market approach in the last two or three weeks? Lots of power stocks have corrected in the last few days. And individual stocks are down a good 10-20%. So I think in terms of financing of power through REC, Power Finance, through the power companies itself, like buying BHEL, Siemens, I think those will continue to do well because the long-term story is intact. It is just that in the short-term, there was a profit-taking bout. Since that story is intact, we have been buying.

yen hovered near a two-week high on Tuesday, boosted by a report that the Bank of Japan (BOJ) could further tweak a key bond yield policy tool when it announces its monetary decision later in the day. The dollar looked set to end the month largely unchanged against a basket of currencies, having lost some steam after a roughly 2.5% gain in September. Yet, the greenback is being underpinned by risks of another rate hike from the Federal Reserve, analysts say, noting a still-resilient U.S.

Bank of Japan's policy decision when it is likely to lift its inflation forecasts and ponder tweaks to its bond yield control. The yen weakened 0.19% to 149.38 per dollar but was not far from the two-week peak of 148.81 it touched on Monday after the Nikkei newspaper reported the BOJ would consider making adjustments to its yield curve control (YCC). The BOJ sets a target of around 0% for the 10-year yield under YCC. Under criticism that its heavy defence of the cap is causing market distortions and an unwelcome yen fall, it raised its de-facto ceiling for the yield to 1.0% from 0.5% in July. On Tuesday, the 10-year JGB yield jumped 6.5 basis points to 0.955%, its highest since May.

All three major U.S. stock indexes closed up more than 1%, bouncing back from the previous week's sell-off.

Icra Ltd., the sector is expected to log a 3-5% growth in FY24, down from 9.2% in FY23. Indian IT’s key sectors of banking, financial services, insurance, retail and telecom are predicted to be particularly affected by spending cuts. All this will lead to squeezed margins.

A flow of recent data from the U.S. government has made one thing strikingly clear: A surge in consumer spending is fueling strong growth, demonstrating a resilience that has confounded economists, Federal Reserve officials and even the sour sentiments...

A Hong Kong court has adjourned a winding up hearing for property developer China Evergrande Group’s until Dec. 4

Autoworkers are the latest to spotlight the power of US labor.

Trade and economy officials from the Group of Seven wealthy democracies have strengthened their pledge to work together to ensure smooth supply chains for essentials like energy and food despite global uncertainties

Wall Street clawed back some of its sharp recent losses to start a week that could see more big swings in financial markets

Tentative pacts were made with Stellantis and Ford.

The European Commission’s top official says a decade-long investment package for Western Balkan countries that are seeking to join the bloc could vastly improve the region's economy

The World Bank says oil prices could be pushed into “uncharted waters” if the violence between Israel and Hamas widens

China’s leaders are expected to search for ways to mend the country's fractured property market, create jobs for millions of unemployed youths and spur faster growth in a meeting that reportedly began Monday in Beijing

Mint explains why. In 2018-19, two-wheeler sales hit a peak of nearly 21.18 million units, registering a 6% growth during the year. Thereafter, sales fell for three consecutive years to hit a decadal low of less than 13.6 million units in 2021-22.

By Jeff Mason and Alexandra Alper

Nitin Gadkari on Monday said a cross-border road under the ambitious Kaladan Multi-Modal Transit Transport Project (KMTTP) to link south Mizoram's Lawngtlai district with Myanmar's Sittwe port will be completed by November this year. Addressing a rally at West Phaileng in Dampa assembly constituency in west Mizoram's Mamit district bordering Bangladesh, Gadkari said the 26-km road project costs Rs 1,132 crore. «The road under the Kaladan project will be completed by November and it will be helpful to connect Myanmar's Sittwe port,» he said.

Cresset Capital CIO and founding partner Jack Ablin discusses higher interest rates and offers his market outlook on 'Barron's Roundtable.'

Asian Paints Ltd put up a dismal show on revenues in the September quarter (Q2FY24) due to weak consumer sentiment. Erratic monsoons meant slower pace of growth in rural volumes and product mix was inferior led by the economy range of products. Plus, there was the shift in festive demand by a quarter to Q3 to cope with.

Just under one year ago, the Bitcoin (BTC) market was in turmoil as panicky investors dumped their holdings in wake of the collapse of the cryptocurrency exchange FTX.

Former U.S. Department of State official Christian Whiton says the Israel-Hamas conflict 'is looking at an open-ended occupation and operation.'