World Markets
24 August 2021
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Dollar licking wounds, looking to Jackson Hole
- Hong Kong’s Hang Seng index jumps nearly 2% as optimism rises on Pfizer vaccine approval
- Oil rises as full U.S. clearance for COVID-19 vaccine stokes fuel demand hopes
Currency
The dollar was smarting on Tuesday following its sharpest one-day fall since May, though traders were wary of chasing the mood-driven move lower ahead of a Federal Reserve symposium that could map out an end to stimulus and asset purchases.
The greenback dropped more than 1% against the Australian dollar, Norwegian crown, Swedish crown and Canadian dollar overnight and fell by almost that much against the kiwi as markets focused on positive COVID news and stocks jumped higher. The euro rose 0.4% to $1.1745. The U.S. dollar index fell just over 0.5% to a one-week low of 92.994, busting through an uptrend that had been gaining momentum and lifted the index by 1% last week.
The Japanese yen and Swiss franc both rose above their 20-day moving averages as the dollar weakened, leaving the yen at 109.70 per dollar and the franc at 0.9123 per dollar.
Equity
Shares in Asia-Pacific largely rose in Tuesday morning trade, after the tech-heavy Nasdaq Composite jumped to a record closing high following the U.S. Food and Drug Administration’s full approval of Pfizer and BioNTech’s Covid-19 vaccine.
Hong Kong’s Hang Seng index surged 1.65% in morning trade as shares of Chinese tech firms listed in the city jumped. Mainland Chinese stocks were higher as the Shanghai composite rose 0.65% while the Shenzhen component advanced 0.361%.
The Nikkei 225 in Japan gained 1.15%, as shares of conglomerate Softbank Group surged more than 2%. The Topix index advanced 1.18%. South Korea’s Kospi jumped 1.55%. In Australia, the S&P/ASX 200 edged 0.29% higher. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 1.16% higher.
Overnight on Wall Street, the Nasdaq Composite jumped 1.55% to 14,942.65 — a record closing high. The S&P 500 advanced 0.85% to 4,479.53 while the Dow Jones Industrial Average gained 215.63 points to 35,335.71.
Oil
Oil prices rose on Tuesday after the U.S. drug regulator granted full approval to the Pfizer Inc/BioNTech SE COVID-19 vaccine, stoking investor hopes that higher fuel demand will follow a potential step up in U.S. coronavirus vaccination rates.
Brent crude oil futures gained 66 cents, or 0.9%, to $69.41 a barrel , while U.S. West Texas Intermediate (WTI) crude futures increased by 60 cents, or 0.9%, to $66.24 a barrel.
Business News Headlines
Economic Times
Ø IHCL’s board approves to raise up to Rs 3,000 cr via rights issue
Ø After Tata Steel, AMNS India plans to bid for state-owned RINL
Ø NSE-BSE bulk deals: CLSA Global Markets buys stake in RPSG Ventures
Ø Jio outpaces Airtel in June user adds; Vodafone Idea loses more: Trai
Ø BSE, NSE warn against trading in contract for difference
Ø Govt against merging ailing Voda Idea with BSNL-MTNL
Ø Tata, Adani companies among bidders for UP Transco
Ø ‘M&M has emerged much stronger after two Covid waves’
Ø NABARD’s loans rise 25.2 per cent to reach Rs 6 lakh crore in FY21
Ø Monsoon to impact India’s coffee production this year, say producers
Ø 16 merchant bankers in race for managing LIC IPO
Business Standard
Ø Vedanta makes natural gas discovery in Gujarat block won in OALP round
Ø Maruti Suzuki to take ‘appropriate action under law’ on CCI penalty
Ø Eicher Motors re-appoints Siddhartha Lal as MD, revises pay structure
Ø Salaries rise for promoters of auto firms even as business faces headwinds
Ø Paytm, HDFC Bank tie up to develop payment products for new online ventures
Ø Govt to monetise 25 airports over four years, to fetch Rs 20,782 crore
Ø Govt eyes Rs 35,100 cr from partial sale of Bharatnet network, tower infra
Ø India’s volatile rains may create challenges for inflation, says Barclays
Ø Canara Bank closes QIP by raising Rs 2,500 cr equity capital
Ø HDFC Bank to issue 300,000 credit cards a month to regain lost market share
Financial Express
Ø Foreign direct investments rise to $12.1 billion in May: Piyush Goyal
Ø Rs 6 lakh crore National Monetisation Plan announced for infra assets
Ø NSE warns against unregulated derivative products
Ø Sebi extends deadline for public comments on swing pricing mechanism proposal for MFs
Ø Tata Steel commissions 0.5 MTPA recycling plant in Haryana
Ø Sugar prices rise ahead of festive season
Ø Zomato invests over $100 million in Grofers
Ø FPIs pump in Rs 7,245 crore in August so far
Ø Sebi cuts lock-in period for promoters to 18 months post-IPO
Ø AGS Transact Tech files draft papers with Sebi to raise Rs 800-cr via IPO
Mint
Ø India needs an ecosystem that’s conducive to MSME expansion
Ø Acme Solar inks land agreement to set up green ammonia plant in Oman
Ø Hindalco to invest $3 billion in five years
Ø Govt sets 15 Sept deadline for Infosys to fix tax portal glitches
Ø Adani group incorporates PLR Systems to manufacture defence equipment
Ø Govt notifies timeline to replace existing meters with smart prepaid meters
Ø ONGC looks at acquisitions to achieve 10 GW renewable capacity by 2040
Ø Mumbai court allows restoration of Nirav Modi’s confiscated properties to PNB
Ø RattanIndia to form subsidiary for drone business
Ø Government to finalise investment bankers for LIC IPO this week
Ø Yes Bank partners WheelsEMI for two-wheeler loans
Ø HCL Tech signs contract with Munich Re for digital workplace services
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Disclaimer : All information in this report is collected from various sites on internet. Although we have taken all precautions for correct representation of data however we do not take any responsibility for any errors and omissions. The technical analysis and views expressed is authors own views. We are not responsible for any losses on account of following the same.
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