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03-Jun-2023 09:26 Hrs IST |
US markets end session with solid gains on strong jobs data
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<p style="text-align: justify;">The US markets extended their previous session's northward journey and ended the session with strong gains on Friday. The Nasdaq reached its best closing level in well over a year, while the S&P 500 set a new nine-month closing high. Sentiments got a boost following the release of a closely watched Labor Department report showing U.S. employment surged by much more than expected in the month of May. The report showed non-farm employment soared by 339,000 jobs in May after spiking by an upwardly revised 294,000 jobs in April. Street had expected employment to climb by 190,000 jobs compared to the jump of 253,000 jobs originally reported for the previous month. Meanwhile, the Labor Department said the unemployment rate rose to 3.7 percent in May from 3.4 percent in April. The unemployment rate was expected to inch up to 3.5 percent.</p><p style="text-align: justify;">Some strength on Wall Street also came in amid reports that the Senate voted to pass the bill raising the U.S. debt ceiling late Thursday night. The Senate voted 63 to 36 in favor of the debt ceiling bill, with 17 Republicans joining with the majority of Democrats to approve the legislation. The passage of the bill eliminates the threat of a potentially disastrous default by the U.S. government, which had been hanging over the markets in recent weeks. On the sectoral front, oil service stocks moved sharply higher along with the price of crude oil, driving the Philadelphia Oil Service Index up by 5.5 percent. The rally by oil service stocks came as the price of crude oil for July delivery jumped $1.64 to $71.74 a barrel. Substantial strength was also visible among steel stocks, while banking stocks also showed a significant move to the upside.</p><p style="text-align: justify;">Dow Jones Industrial Average jumped 701.19 points or 2.12 percent to 33,762.76, Nasdaq surged 139.78 points or 1.07 percent to 13,240.77 and S&P 500 was up by 61.35 points or 1.45 percent to 4,282.37.</p>
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02-Jun-2023 15:53 Hrs IST |
Asian markets settle mostly higher on Friday
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<div style="text-align: justify;">Asian markets settled mostly higher on Friday tracking Wall Street gains overnight after the US Senate passed a bill that suspended the government's borrowing limit to avert a default, while receding bets for a US interest rate hike by the US Federal Reserve this month also supported market sentiments. Chinese shares gained on optimism that Chinese policymakers will soon deliver the much-needed stimulus to boost economic growth. Moreover, Japanese shares rose after Bank of Japan Governor Kazuo Ueda said the Japanese central bank is in no hurry to tighten its ultra-loose policy.</div><div style="text-align: justify;"><br></div><div style="text-align: justify;"><table class="MsoNormalTable" border="0" cellspacing="0" cellpadding="0" width="100%" style="width: 100%; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;">
<tbody><tr>
<td style="border:solid #B2AFAF 1.0pt;padding:.75pt .75pt .75pt .75pt">
<p class="MsoNormal" style="mso-margin-bottom-alt:auto;text-align:justify;
line-height:normal"><b><span style="font-size:10.5pt;font-family:"Verdana",sans-serif;
mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";
color:black">Asian Indices </span></b><span style="font-size: 10.5pt; font-family: open_sansregular, serif;"><o:p></o:p></span></p>
</td>
<td style="border:solid #B2AFAF 1.0pt;border-left:none;padding:.75pt .75pt .75pt .75pt">
<p class="MsoNormal" style="mso-margin-bottom-alt:auto;text-align:justify;
line-height:normal"><b><span style="font-size:10.5pt;font-family:"Verdana",sans-serif;
mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";
color:black">Last Trade
</span></b><span style="font-size: 10.5pt; font-family: open_sansregular, serif;"><o:p></o:p></span></p>
</td>
<td style="border:solid #B2AFAF 1.0pt;border-left:none;padding:.75pt .75pt .75pt .75pt">
<p class="MsoNormal" style="mso-margin-bottom-alt:auto;text-align:justify;
line-height:normal"><b><span style="font-size:10.5pt;font-family:"Verdana",sans-serif;
mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";
color:black">Change in Points </span></b><span style="font-size: 10.5pt; font-family: open_sansregular, serif;"><o:p></o:p></span></p>
</td>
<td style="border:solid #B2AFAF 1.0pt;border-left:none;padding:.75pt .75pt .75pt .75pt">
<p class="MsoNormal" style="mso-margin-bottom-alt:auto;text-align:justify;
line-height:normal"><b><span style="font-size:10.5pt;font-family:"Verdana",sans-serif;
mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";
color:black">Change in % </span></b><span style="font-size: 10.5pt; font-family: open_sansregular, serif;"><o:p></o:p></span></p>
</td>
</tr>
<tr>
<td style="border:solid #B2AFAF 1.0pt;border-top:none;padding:.75pt .75pt .75pt .75pt">
<p class="MsoNormal" style="mso-margin-bottom-alt:auto;text-align:justify;
line-height:normal"><span style="font-size:12.0pt;font-family:"Verdana",sans-serif;
mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";
color:black">Shanghai Composite</span><span style="font-size: 10.5pt; font-family: open_sansregular, serif;"><o:p></o:p></span></p>
</td>
<td style="border-top:none;border-left:none;border-bottom:solid #B2AFAF 1.0pt;
border-right:solid #B2AFAF 1.0pt;padding:.75pt .75pt .75pt .75pt">
<p class="MsoNormal" style="mso-margin-bottom-alt:auto;text-align:justify;
line-height:normal"><span style="font-size:10.5pt;font-family:"Roboto",serif;
mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";
color:black;background:white">3,230.07</span><span style="font-size: 10.5pt; font-family: open_sansregular, serif;"><o:p></o:p></span></p>
</td>
<td style="border-top:none;border-left:none;border-bottom:solid #B2AFAF 1.0pt;
border-right:solid #B2AFAF 1.0pt;padding:.75pt .75pt .75pt .75pt">
<p class="MsoNormal" style="mso-margin-bottom-alt:auto;text-align:justify;
line-height:normal"><span style="font-size:10.5pt;font-family:"Roboto",serif;
mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";
color:black;background:white">25.44</span><span style="font-size: 10.5pt; font-family: open_sansregular, serif;"><o:p></o:p></span></p>
</td>
<td style="border-top:none;border-left:none;border-bottom:solid #B2AFAF 1.0pt;
border-right:solid #B2AFAF 1.0pt;padding:.75pt .75pt .75pt .75pt">
<p class="MsoNormal" style="mso-margin-bottom-alt:auto;text-align:justify;
line-height:normal"><span style="font-size:10.5pt;font-family:"Roboto",serif;
mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";
color:black;background:white">0.79</span><span style="font-size: 10.5pt; font-family: open_sansregular, serif;"><o:p></o:p></span></p>
</td>
</tr>
<tr>
<td style="border:solid #B2AFAF 1.0pt;border-top:none;padding:.75pt .75pt .75pt .75pt">
<p class="MsoNormal" style="mso-margin-bottom-alt:auto;text-align:justify;
line-height:normal"><span style="font-size:12.0pt;font-family:"Verdana",sans-serif;
mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";
color:black">Hang Seng</span><span style="font-size: 10.5pt; font-family: open_sansregular, serif;"><o:p></o:p></span></p>
</td>
<td style="border-top:none;border-left:none;border-bottom:solid #B2AFAF 1.0pt;
border-right:solid #B2AFAF 1.0pt;padding:.75pt .75pt .75pt .75pt">
<p class="MsoNormal" style="mso-margin-bottom-alt:auto;text-align:justify;
line-height:normal"><span style="font-size:10.5pt;font-family:"Roboto",serif;
mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";
color:black;background:#FBFBFB">18,949.94</span><span style="font-size: 10.5pt; font-family: open_sansregular, serif;"><o:p></o:p></span></p>
</td>
<td style="border-top:none;border-left:none;border-bottom:solid #B2AFAF 1.0pt;
border-right:solid #B2AFAF 1.0pt;padding:.75pt .75pt .75pt .75pt">
<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;text-align:
justify;line-height:normal"><span style="font-size:10.5pt;font-family:"open_sansregular",serif;
mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";
color:black">733.03</span><span style="font-size: 10.5pt; font-family: open_sansregular, serif;"><o:p></o:p></span></p>
</td>
<td style="border-top:none;border-left:none;border-bottom:solid #B2AFAF 1.0pt;
border-right:solid #B2AFAF 1.0pt;padding:.75pt .75pt .75pt .75pt">
<p class="MsoNormal" style="mso-margin-bottom-alt:auto;text-align:justify;
line-height:normal"><span style="font-size:10.5pt;font-family:"Roboto",serif;
mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";
color:black;background:#FBFBFB">3.87</span><span style="font-size: 10.5pt; font-family: open_sansregular, serif;"><o:p></o:p></span></p>
</td>
</tr>
<tr>
<td style="border:solid #B2AFAF 1.0pt;border-top:none;padding:.75pt .75pt .75pt .75pt">
<p class="MsoNormal" style="mso-margin-bottom-alt:auto;text-align:justify;
line-height:normal"><span style="font-size:12.0pt;font-family:"Verdana",sans-serif;
mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";
color:black">Jakarta Composite</span><span style="font-size: 10.5pt; font-family: open_sansregular, serif;"><o:p></o:p></span></p>
</td>
<td style="border-top:none;border-left:none;border-bottom:solid #B2AFAF 1.0pt;
border-right:solid #B2AFAF 1.0pt;padding:.75pt .75pt .75pt .75pt">
<p class="MsoNormal" style="mso-margin-bottom-alt:auto;text-align:justify;
line-height:normal"><span style="font-size:10.5pt;font-family:"open_sansregular",serif;
mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";
color:black">--</span><span style="font-size: 10.5pt; font-family: open_sansregular, serif;"><o:p></o:p></span></p>
</td>
<td style="border-top:none;border-left:none;border-bottom:solid #B2AFAF 1.0pt;
border-right:solid #B2AFAF 1.0pt;padding:.75pt .75pt .75pt .75pt">
<p class="MsoNormal" style="mso-margin-bottom-alt:auto;text-align:justify;
line-height:normal"><span style="font-size:10.5pt;font-family:"Verdana",sans-serif;
mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";
color:black">--</span><span style="font-size: 10.5pt; font-family: open_sansregular, serif;"><o:p></o:p></span></p>
</td>
<td style="border-top:none;border-left:none;border-bottom:solid #B2AFAF 1.0pt;
border-right:solid #B2AFAF 1.0pt;padding:.75pt .75pt .75pt .75pt">
<p class="MsoNormal" style="mso-margin-bottom-alt:auto;text-align:justify;
line-height:normal"><span style="font-size:10.5pt;font-family:"Verdana",sans-serif;
mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";
color:black">--</span><span style="font-size: 10.5pt; font-family: open_sansregular, serif;"><o:p></o:p></span></p>
</td>
</tr>
<tr>
<td style="border:solid #B2AFAF 1.0pt;border-top:none;padding:.75pt .75pt .75pt .75pt">
<p class="MsoNormal" style="mso-margin-bottom-alt:auto;text-align:justify;
line-height:normal"><span style="font-size:12.0pt;font-family:"Verdana",sans-serif;
mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";
color:black">KLSE Composite</span><span style="font-size: 10.5pt; font-family: open_sansregular, serif;"><o:p></o:p></span></p>
</td>
<td style="border-top:none;border-left:none;border-bottom:solid #B2AFAF 1.0pt;
border-right:solid #B2AFAF 1.0pt;padding:.75pt .75pt .75pt .75pt">
<p class="MsoNormal" style="mso-margin-bottom-alt:auto;text-align:justify;
line-height:normal"><span style="font-size:10.5pt;font-family:"open_sansregular",serif;
mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";
color:black">1,381.26</span><span style="font-size: 10.5pt; font-family: open_sansregular, serif;"><o:p></o:p></span></p>
</td>
<td style="border-top:none;border-left:none;border-bottom:solid #B2AFAF 1.0pt;
border-right:solid #B2AFAF 1.0pt;padding:.75pt .75pt .75pt .75pt">
<p class="MsoNormal" style="mso-margin-bottom-alt:auto;text-align:justify;
line-height:normal"><span style="font-size:10.5pt;font-family:"open_sansregular",serif;
mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";
color:black">-1.75</span><span style="font-size: 10.5pt; font-family: open_sansregular, serif;"><o:p></o:p></span></p>
</td>
<td style="border-top:none;border-left:none;border-bottom:solid #B2AFAF 1.0pt;
border-right:solid #B2AFAF 1.0pt;padding:.75pt .75pt .75pt .75pt">
<p class="MsoNormal" style="mso-margin-bottom-alt:auto;text-align:justify;
line-height:normal"><span style="font-size:10.5pt;font-family:"open_sansregular",serif;
mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";
color:black">-0.13</span><span style="font-size: 10.5pt; font-family: open_sansregular, serif;"><o:p></o:p></span></p>
</td>
</tr>
<tr>
<td style="border:solid #B2AFAF 1.0pt;border-top:none;padding:.75pt .75pt .75pt .75pt">
<p class="MsoNormal" style="mso-margin-bottom-alt:auto;text-align:justify;
line-height:normal"><span style="font-size:12.0pt;font-family:"Verdana",sans-serif;
mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";
color:black">Nikkei 225</span><span style="font-size: 10.5pt; font-family: open_sansregular, serif;"><o:p></o:p></span></p>
</td>
<td style="border-top:none;border-left:none;border-bottom:solid #B2AFAF 1.0pt;
border-right:solid #B2AFAF 1.0pt;padding:.75pt .75pt .75pt .75pt">
<p class="MsoNormal" style="mso-margin-bottom-alt:auto;text-align:justify;
line-height:normal"><span style="font-size:10.5pt;font-family:"Roboto",serif;
mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";
color:black;background:#FBFBFB">31,524.22</span><span style="font-size: 10.5pt; font-family: open_sansregular, serif;"><o:p></o:p></span></p>
</td>
<td style="border-top:none;border-left:none;border-bottom:solid #B2AFAF 1.0pt;
border-right:solid #B2AFAF 1.0pt;padding:.75pt .75pt .75pt .75pt">
<p class="MsoNormal" style="mso-margin-bottom-alt:auto;text-align:justify;
line-height:normal"><span style="font-size:10.5pt;font-family:"Roboto",serif;
mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";
color:black;background:#FBFBFB">376.21</span><span style="font-size: 10.5pt; font-family: open_sansregular, serif;"><o:p></o:p></span></p>
</td>
<td style="border-top:none;border-left:none;border-bottom:solid #B2AFAF 1.0pt;
border-right:solid #B2AFAF 1.0pt;padding:.75pt .75pt .75pt .75pt">
<p class="MsoNormal" style="mso-margin-bottom-alt:auto;text-align:justify;
line-height:normal"><span style="font-size:10.5pt;font-family:"Roboto",serif;
mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";
color:black;background:#FBFBFB">1.19</span><span style="font-size: 10.5pt; font-family: open_sansregular, serif;"><o:p></o:p></span></p>
</td>
</tr>
<tr>
<td style="border:solid #B2AFAF 1.0pt;border-top:none;padding:.75pt .75pt .75pt .75pt">
<p class="MsoNormal" style="mso-margin-bottom-alt:auto;text-align:justify;
line-height:normal"><span style="font-size:12.0pt;font-family:"Verdana",sans-serif;
mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";
color:black">Straits Times</span><span style="font-size: 10.5pt; font-family: open_sansregular, serif;"><o:p></o:p></span></p>
</td>
<td style="border-top:none;border-left:none;border-bottom:solid #B2AFAF 1.0pt;
border-right:solid #B2AFAF 1.0pt;padding:.75pt .75pt .75pt .75pt">
<p class="MsoNormal" style="mso-margin-bottom-alt:auto;text-align:justify;
line-height:normal"><span style="font-size:10.5pt;font-family:"Roboto",serif;
mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";
color:black;background:white">--</span><span style="font-size: 10.5pt; font-family: open_sansregular, serif;"><o:p></o:p></span></p>
</td>
<td style="border-top:none;border-left:none;border-bottom:solid #B2AFAF 1.0pt;
border-right:solid #B2AFAF 1.0pt;padding:.75pt .75pt .75pt .75pt">
<p class="MsoNormal" style="mso-margin-bottom-alt:auto;text-align:justify;
line-height:normal"><span style="font-size:10.5pt;font-family:"Roboto",serif;
mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";
color:black;background:white">--</span><span style="font-size: 10.5pt; font-family: open_sansregular, serif;"><o:p></o:p></span></p>
</td>
<td style="border-top:none;border-left:none;border-bottom:solid #B2AFAF 1.0pt;
border-right:solid #B2AFAF 1.0pt;padding:.75pt .75pt .75pt .75pt">
<p class="MsoNormal" style="mso-margin-bottom-alt:auto;text-align:justify;
line-height:normal"><span style="font-size:10.5pt;font-family:"Roboto",serif;
mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";
color:black;background:white">--</span><span style="font-size: 10.5pt; font-family: open_sansregular, serif;"><o:p></o:p></span></p>
</td>
</tr>
<tr>
<td style="border:solid #B2AFAF 1.0pt;border-top:none;padding:.75pt .75pt .75pt .75pt">
<p class="MsoNormal" style="mso-margin-bottom-alt:auto;text-align:justify;
line-height:normal"><span style="font-size:12.0pt;font-family:"Verdana",sans-serif;
mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";
color:black">KOSPI Composite</span><span style="font-size: 10.5pt; font-family: open_sansregular, serif;"><o:p></o:p></span></p>
</td>
<td style="border-top:none;border-left:none;border-bottom:solid #B2AFAF 1.0pt;
border-right:solid #B2AFAF 1.0pt;padding:.75pt .75pt .75pt .75pt">
<p class="MsoNormal" style="mso-margin-bottom-alt:auto;text-align:justify;
line-height:normal"><span style="font-size:10.5pt;font-family:"Roboto",serif;
mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";
color:black;background:#FBFBFB">2,601.36</span><span style="font-size: 10.5pt; font-family: open_sansregular, serif;"><o:p></o:p></span></p>
</td>
<td style="border-top:none;border-left:none;border-bottom:solid #B2AFAF 1.0pt;
border-right:solid #B2AFAF 1.0pt;padding:.75pt .75pt .75pt .75pt">
<p class="MsoNormal" style="mso-margin-bottom-alt:auto;text-align:justify;
line-height:normal"><span style="font-size:10.5pt;font-family:"Roboto",serif;
mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";
color:black;background:#FBFBFB">32.19</span><span style="font-size: 10.5pt; font-family: open_sansregular, serif;"><o:p></o:p></span></p>
</td>
<td style="border-top:none;border-left:none;border-bottom:solid #B2AFAF 1.0pt;
border-right:solid #B2AFAF 1.0pt;padding:.75pt .75pt .75pt .75pt">
<p class="MsoNormal" style="mso-margin-bottom-alt:auto;text-align:justify;
line-height:normal"><span style="font-size:10.5pt;font-family:"Roboto",serif;
mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";
color:black;background:#FBFBFB">1.24</span><span style="font-size: 10.5pt; font-family: open_sansregular, serif;"><o:p></o:p></span></p>
</td>
</tr>
<tr>
<td style="border:solid #B2AFAF 1.0pt;border-top:none;padding:.75pt .75pt .75pt .75pt">
<p class="MsoNormal" style="mso-margin-bottom-alt:auto;text-align:justify;
line-height:normal"><span style="font-size:12.0pt;font-family:"Verdana",sans-serif;
mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";
color:black">Taiwan Weighted</span><span style="font-size: 10.5pt; font-family: open_sansregular, serif;"><o:p></o:p></span></p>
</td>
<td style="border-top:none;border-left:none;border-bottom:solid #B2AFAF 1.0pt;
border-right:solid #B2AFAF 1.0pt;padding:.75pt .75pt .75pt .75pt">
<p class="MsoNormal" style="mso-margin-bottom-alt:auto;text-align:justify;
line-height:normal"><span style="font-size:10.5pt;font-family:"Roboto",serif;
mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";
color:black;background:white">16,706.91</span><span style="font-size: 10.5pt; font-family: open_sansregular, serif;"><o:p></o:p></span></p>
</td>
<td style="border-top:none;border-left:none;border-bottom:solid #B2AFAF 1.0pt;
border-right:solid #B2AFAF 1.0pt;padding:.75pt .75pt .75pt .75pt">
<p class="MsoNormal" style="mso-margin-bottom-alt:auto;text-align:justify;
line-height:normal"><span style="font-size:10.5pt;font-family:"Roboto",serif;
mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";
color:black;background:white">194.26</span><span style="font-size: 10.5pt; font-family: open_sansregular, serif;"><o:p></o:p></span></p>
</td>
<td style="border-top:none;border-left:none;border-bottom:solid #B2AFAF 1.0pt;
border-right:solid #B2AFAF 1.0pt;padding:.75pt .75pt .75pt .75pt">
<p class="MsoNormal" style="mso-margin-bottom-alt:auto;text-align:justify;
line-height:normal"><span style="font-size:10.5pt;font-family:"Roboto",serif;
mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";
color:black;background:white">1.16</span><span style="font-size: 10.5pt; font-family: open_sansregular, serif;"><o:p></o:p></span></p>
</td>
</tr>
</tbody></table></div><div style="text-align: justify;"><br></div><div style="text-align: justify;"><br></div>
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