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26-Apr-2024 10:36 Hrs IST |
Asian markets trade mostly higher in early deals on Friday
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<div style="text-align: justify;">Most of the Asian markets traded higher in early deals on Friday, buoyed by the bargain hunting after recent sell offs. Hang Seng soared the most among Asian indices and is in track of an over 8% jump weekly, which could mark the sharpest gain since late October of 2022. Optimism that China will deliver more expansionary policies to spur robust recovery this year supported investor sentiments. Moreover, some major investment banks, Goldman Sachs and UBS, have raised its ratings on China and Hong Kong's equities citing potential reforms, strong earnings, and fiscal support. Japan's Nikkei also advanced after the Bank of Japan holds its policy rate unchanged on Friday after its monetary policy meeting, holding its benchmark policy rate at 0%-0.1%. Participants also braced that Tokyo's core inflation rate slowed to a 2-year low of 1.6% in April. </div><div style="text-align: justify;"><br></div><div style="text-align: justify;">Nikkei 225 up by 307.03 points 0.82% to 37,935.51, Taiwan Weighted rose by 316.50 points or 1.59% to 20,173.92, KOSPI Index lifted by 28.79 points or 1.08% to 2,657.41, Hang Seng widened by 343.19 points 1.95% to 17,627.73, Shanghai Composite buoyed by 24.02 points or 0.78% to 3,076.92 and FTSE Bursa Malaysia KLCI enlarged 4.55 points or 0.29% to 1,573.80.</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">On the flip side, Straits Times slipped by 1.13 points 0.03% to 3,286.62, and Jakarta Composite down by 35.30 points or 0.49% to 7,119.99.</div><div style="text-align: justify;"><br></div>
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26-Apr-2024 08:36 Hrs IST |
US markets end lower after weak GDP data
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<p style="text-align: justify;">The US markets ended lower on Thursday after a report released by the Commerce Department on Thursday showed the U.S. economy grew by much less than expected in the first quarter of 2024. The Commerce Department said gross domestic product increased by 1.6 percent in the first quarter after surging by 3.4 percent in the fourth quarter of 2023. Street had expected GDP to jump by 2.5 percent. The GDP growth in the first quarter reflected increases in consumer spending, residential fixed investment, nonresidential fixed investment, and state and local government spending. The Commerce Department said the notable slowdown in GDP growth compared to the previous quarter primarily reflected decelerations in consumer spending, exports, and state and local government spending and a downturn in federal government spending.</p><p style="text-align: justify;">The report showed consumer spending growth slowed to 2.5 percent in the first quarter from 3.3 percent in the fourth quarter, with an increase in spending services partly offset by a decrease in spending on goods. On the sectoral front, despite the recovery attempt by the broader markets, telecom stocks continued to see substantial weakness on the day, with the NYSE Arca North American Telecom Index plunging by 2.7 percent. Significant weakness also remained visible among software stocks, as reflected by the 1.8 percent loss posted by the Dow Jones U.S. Software Index. Biotechnology, banking stocks and networking stocks also continued to see considerable weakness, although selling pressure waned from earlier in the session.</p><p style="text-align: justify;">Dow Jones Industrial Average fell 375.12 points or 0.98 percent to 38,085.8, Nasdaq dropped 100.99 points or 0.64 percent to 15,611.76 and S&P 500 was down by 23.21 points or 0.46 percent to 5,048.42. </p><div style="text-align: justify;"><br></div>
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25-Apr-2024 16:00 Hrs IST |
Asian markets settle mostly lower on Thursday
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25-Apr-2024 11:11 Hrs IST |
Asian markets trade mostly in red in early deals on Thursday
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25-Apr-2024 08:34 Hrs IST |
US markets end mostly in green on Wednesday
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24-Apr-2024 15:46 Hrs IST |
Asian markets settle higher on Wednesday
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24-Apr-2024 11:19 Hrs IST |
Asian markets trade in green in early deals on Wednesday
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24-Apr-2024 08:32 Hrs IST |
US markets end higher on Tuesday
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23-Apr-2024 15:46 Hrs IST |
Asian markets finish mostly in green on Tuesday
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23-Apr-2024 11:20 Hrs IST |
Asian markets trade mostly higher in early deals on Tuesday
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