MSCI Financial News

stocks as oil prices fell, even as hawkish US Federal Reserve remarks reignited rate worries and dragged Asian peers. The NSE Nifty 50 index added 1.01% for the week, while the S&P BSE Sensex gained 0.84%. Here's how analysts read the market pulse: «Nifty exhibited volatility throughout the day, rebounding above the 21-day exponential moving average (EMA). However, the substantial Open Interest (OI) buildup at 19500, particularly from Call writers, suggests a protective barrier that may impede further upward movement for Nifty.

By Herbert Lash and Nell Mackenzie

Asian stocks fell to their lowest in a week on Friday, while the dollar was firm as elevated Treasury yields weighed on sentiment after hawkish comments from U.S. Fed Chair Jerome Powell extinguished expectations of a peak in interest rates. MSCI's broadest index of Asia-Pacific shares outside Japan fell 1% to a one-week low of 486.39, while Japan's Nikkei was 0.50% lower.

By Herbert Lash and Marc Jones

By Bansari Mayur Kamdar

Asian share markets rallied on Thursday and the dollar was weaker after most U.S stocks edged higher and the S&P 500 recorded its longest winning streak in two years, with investors on high alert for signs that global interest rates have peaked. MSCI's broadest index of Asia-Pacific shares outside Japan was flat, although up 4.6% so far this month. The yield on benchmark 10-year Treasury notes reached 4.5059% compared with a U.S.

By Steven Scheer and Marc Jones

A look at the day ahead in European and global markets from Tom Westbrook:

Oil prices soared on Monday after Saudi Arabia and Russia said they would continue their extra voluntary supply cuts until the end of the year. Brent crude futures rose $1.25, or 1.47%, to $86.14 a barrel by 1145 GMT. US West Texas Intermediate crude was up $1.29, or 1.6%, at $81.80.

Any year-end rally in stocks could prove short-lived because equities don’t fully reflect the outlook for rates remaining higher for longer, according to Jean Boivin, who heads the research arm at BlackRock Inc.

smallcap stocks including Suzlon Energy, Kalyan Jewellers, KEI Industries and the newly-listed JSW Infra can get upgraded to midcap status. Calculations done by Nuvama show that the remaining 10 stocks waiting to enter the midcap universe are Mazagon Dock, Lloyds Metal, SJVN, CreditAccess Grameen, Emami, Exide Industries, Ajanta Pharma, Glenmark Pharma, Nippon Life and Fivestar Business. Suzlon, the stock of which has rallied over 300% in the last 6 months, is also seen entering the MSCI India Standard Index in its quarterly review on 14th November. Stocks which can get downgraded from midcap to smallcap are Rajesh Exports, Aarti Industries, Pfizer, Vinati Organics, Crompton Greaves, Bharat Dynamics, Atul, Navin Fluorine, Whirlpool, Laurus Labs, Sumitomo Chemicals, Aditya Birla Fashion, Bata India and Kajaria Ceramics. The mutual fund body will announce a reshuffle in the first week of January 2024 and will be applicable from February to July 2024. «The change in categorization doesn’t lead to incremental inflows or outflow. The active mutual fund managers keep an eye on the list while taking fresh/modifying positions in stocks in different categories of schemes,» Nuvama said. Stocks which can move from largecap to midcap are, UPL, Adani Wilmar, IRCTC, PI Industries, Bosch, Tube Investments, Hero Motocorp and Samvardhana Motherson. On the other hand, Nuvama sees IRFC, Power Fin Corp, Polycab Macrotech, Shriram Finance, Union Bank, Indian Overseas Bank, REC Ltd and Jio Financial getting largecap status. AMFI categorises stocks on the basis of its 6-month average market capitalisation.

Anurag Singh, Managing Partner, Ansid Capital, “we are very cautious on emerging markets. India is an exception, we will talk about it but outside India, for the rest of the emerging markets, look at the MSCI 10 year returns. They have been sub 3%. China, Brazil, Argentina, South Korea have produced some phenomenal companies, but market wise they have not produced great returns.” Singh also says: “China in a big way benefited out of an export-led economy. Now exports and trade as a percentage of global GDP is dropping. It peaked out about 8 to 10 years back and now it is the time where India empowers the domestic economy and looks at the domestic facing sectors.” Friday's rally is triggered by what is happening in the world. Are you comfortable with yields coming down all of that or are you still cautious? It is good to be back in India right now. I will continue to be cautious right now. We will discuss those four or five macro trends that I am going to pull out. We would observe that there is going to be a constant pressure on the 10-year yield of the US.

Asian shares rallied for a fourth straight session on Monday after markets moved to price in earlier rate cuts in the United States and Europe, bullish wagers that will be tested by a swarm of central bank speakers this week. Battered bond markets also enjoyed a welcome recovery as a benign U.S. payrolls report and upbeat productivity numbers suggested the labour market was cooling enough to obviate the need for further rate hikes from the Federal Reserve. «This year's better-than-expected U.S.

US Federal Reserve will not hike interest rates further. Investors will now await US Fed Chair Jerome Powell’s speech for future guidance on interest policy. Among other stock market triggers for the domestic markets during this week include the ongoing second quarter results of current fiscal, domestic and global macroeconomic data, foreign capital inflow and global market cues.

Reuters. In May 2021, the ban was lifted for trades involving the shares of companies with large market capitalisation included in the KOSPI200 and KOSDAQ150 share price indices. Trading with borrowed shares will be banned for equities on the Kospi 200 Index and Kosdaq 150 Index from Monday until the end of June, Financial Services Commission (FSC) said on Sunday.

By Jack Kim

US Federal Reserve may be done hiking interest rates. MSCI's gauge of stocks across the globe gained 1.18%. The MSCI index was up 5.3% for the week, also the biggest weekly percentage increase since November 2022.

Capital Group is seeing an opportunity for investors to load up on global equities after the Federal Reserve held rates on Wednesday, signaling an end to its aggressive tightening cycle.“The really big message for investors is that this moment of central banks peaking is likely to be the opening of a window where it’s going to be a really good time to get invested,” Andy Budden, investment director for equities at the $2.3 trillion manager said at a briefing in Singapore.Stocks and bonds extended gains in a relief rally Thursday on hopes the Fed is nearing the end of its historic tightening campaign. Worries over higher borrowing costs have sparked a global rout this year, with emerging markets seeing a selloff in risk assets amid a stronger dollar.Capital Group is now advising clients to “have the courage to act,” portfolio manager Winnie Kwan said at the same briefing.

The fund will also be renamed to Franklin FTSE Asia ex China ex Japan UCITS ETF.

By Tom Westbrook

weekly rise in a year on Friday, while bonds rallied and the dollar was on the back foot as investors cheered a pause in U.S. interest rate hikes. U.S.