World Markets
30 March 2021
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
Dollar hits one-year high versus yen as inflation worries lift yields
Asia shares mixed as broader worries about U.S. hedge fund default ease
Oil rises as traders expect OPEC+ to hold output cuts
Equity
Asian shares were mixed early Tuesday as global investors shook off worries about a hedge fund default that roiled global banking stocks overnight, while rekindled concerns about inflation pushed bond yields higher.
In Asia, the MSCI’s broadest index of Asia-Pacific shares outside Japan was marginally higher by 0.08% in early in the session Tuesday. Hong Kong’s Hang Seng Index was up 0.36% to 28,440 but in Australia a weaker tone emerged when the S&P/ASX200 slid 0.4% to its lowest point for a week. Mainland China’s CSI300 index is 0.18% higher in early trade while Japan’s Nikkei is off 0.1%.
On Wall Street, the Dow Jones Industrial Average rose 0.3%, the S&P 500 lost 0.09% and the Nasdaq Composite dropped 0.6%.
Currency
The dollar climbed to a one-year high against the yen on Tuesday amid a spike in Treasury yields, as accelerating vaccinations and massive stimulus in the U.S. stoked inflation concerns.
The safe-haven greenback also found support as investors fretted about the potential fallout from the collapse of a hedge fund, identified as Archegos Capital, although those jitters had eased as the Asian trading day got underway.
The dollar rose as high as 109.89 yen in Asia on Tuesday, a level not seen since March of last year. It’s on track for the best month since late 2016, with the end of Japan’s fiscal year this month driving up dollar demand as companies seek to square their books.
The euro languished near the 4-1/2-month low of $1.1763 reached on Monday, on course to fall by the most this month since mid-2019.The dollar index hovered near a 4-1/2-month high of 92.964 reached on Monday.
Oil
Oil prices edged higher on Monday after Reuters reported that Russia would support stable oil output from OPEC+ ahead of a meeting with the producer group later this week.
Futures had fallen earlier in the session on news that a container ship in the Suez Canal blocking traffic for nearly a week had been refloated. Brent oil rose 26 cents to $64.83 a barrel . U.S. crude rose 47 cents to $61.44 a barrel.
Financial News
Business Standard
Ø India, US agree to revamp strategic energy partnership
Ø Adani, Torrent submit EoIs for South East UP Power Transmission Company
Ø Government not inclined to bear loan moratorium costs
Ø Solar installations on pace for biggest growth in five years, IHS Markit says
Ø CCI’s WhatsApp probe order a red flag for Big Tech
Ø India against Asean in supply chain trilateral
Business Line
Ø Sebi cracks down on pseudo buy and sell orders designed to deceive
Ø Nomura, Credit Suisse warn of big losses after Archegos share dump
Ø Gupta’s Liberty Steel to restart operations, in talks with UK government
Ø Amazon plans to step up e-payments, financial services in India
Ø Govt gets multiple EoIs for privatisation of Neelachal Ispat Nigam
Mint
Ø HPCL buys out Shapoorji Pallonji stake in joint venture LNG terminal
Ø Biocon forms tie-up with Libbs Farmaceutica
Ø UK rejects $234-million bailout request from Sanjeev Gupta’s GFG
Ø GameStop takes $6-bn round trip as results shrugged off
Ø Tatas unlikely to cede ground to Mistry on stake valuation, sale
Financial Express
Ø US suspends all trade engagement with Myanmar until elected government returns
Ø Ascendas India Trust to acquire space in Bengaluru IT park for ₹1,441 crore
Ø Manappuram Finance looks to take Asirwad Microfinance public
Ø Actis to set up 2 green firms with $850 million
Deccan Chronicle
Ø BSNL gets DoT nod for hybrid 4G tender
Ø Global banks warn of possible losses from hedge fund default
Ø Ever Given starts to move in Suez Canal: maritime traffic tracking sites
Major Economic Events
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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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