World Markets
17 May 2021
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Dollar fights for footing as Fed minutes eyed
- Asia-Pacific shares mixed as investors await China industrial, retail figures
- Oil edges lower as COVID-19 restrictions in Asia fuel demand concerns
Currency
The U.S. dollar found pockets of support in Asia on Monday, but struggled to post gains, as investors are heavily positioned for it to fall further while the U.S. Federal Reserve holds interest rates low and U.S. trade and current account deficits grow.
The dollar last traded at $1.2134 per euro and has support around $1.2179. The dollar index is likewise, at 90.389, just above key support at 89.677 and 89.206. It bought 109.45 yen and traded at $0.7758 per Aussie and $0.7228 per kiwi. Sterling was perched near a two-and-a-half-month high on Monday, at $1.4085, as Britain reopens its economy after a four-month COVID lockdown.
Equity
Shares in Asia-Pacific were mixed in Monday morning trade as investors await the release of Chinese economic data. A slew of Chinese economic data, including the country’s industrial production and retail sales for April, is expected to be out at 10:00 a.m. HK/SIN on Monday.
In Japan, the Nikkei 225 dipped 0.3% in morning trade while the Topix index advanced 0.16%. South Korea’s Kospi edged 0.12% lower. Mainland Chinese stocks were higher, with the Shanghai composite up 0.39% while the Shenzhen component jumped 1.061%. Over in Australia, the S&P/ASX 200 gained 0.54%. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.14% higher.
Oil
Oil prices edged lower on Monday as the recovery of a major U.S. pipeline network eased concerns over supply and a new wave of COVID-19 restrictions in Asia fuelled fears of lower demand.
Gasoline shortages that have plagued the U.S. East Coast slowly eased on Sunday, with 1,000 more stations receiving supplies as Colonial Pipeline’s 5,500-mile (8,900-km) system recovered from a crippling cyberattack.
Brent crude oil futures were down 8 cents, or 0.1%, at $68.63 a barrel and West Texas Intermediate (WTI) crude was down 7 cents, or 0.1%, at $65.30.
Financial News
Business Standard
Ø Cairn identifies $70 bn Indian assets for seizing to recover amount due from govt
Ø India’s once-in-a-century budget runs into trouble as virus strikes back
Ø Airtel counters Jio, rolls out offers for low-income users
Ø RBI raises concerns over dual microfinance regulation in Assam
Ø SBI to sell three NPA accounts next month for recovery of over Rs 235 crore
Ø New rules for taxing MNCs’ welfare expenses
Business Line
Ø India’s Oil demand shrinks further as coronavirus crisis persists
Ø Adani Green in advanced talks for SoftBank-backed SB Energy: Report
Ø Defaulters seek generous bailouts like Siva-IDBI Bank one-time settlement
Ø M-cap of eight most valued India companies falls Rs 1.13 trillion
Ø Hester in talks with Bharat Biotech to produce Covaxin via tech transfer
Ø Swiss Parliament panel to discuss Credit Suisse billion-dollar scandal
Mint
Ø CBIC rolls out ‘Special GST Refund Disposal Drive’
Ø HLL Biotech may soon find suitor to produce vaccine
Ø We Founder Circle to invest up to $150,000 in 40 start-ups in FY22
Ø Over 1.3 million blue-collar jobs up for grabs in India
Ø PNB raises ₹ 1,800 crore via QIP offering
Ø Strong demand, low base boost India Inc’s earnings growth in Q4
Financial Express
Ø Hero MotoCorp ready to introduce products in electric segment next year
Ø AT&T is in talks to combine content assets with Discovery
Ø Amazon partners with sellers to supply oxygen concentrators to Indian customers
Ø Macrotech to double its investment in construction to ₹2,800 crore in FY22
Ø Tesla may have to hold its big hoard of Bitcoin for decades
Business World
Ø Economic recovery losing steam, GDP growth may be below 9% in FY22 due to 2nd COVID wave: Survey
Ø Truck rentals drop by 5-7% in past fortnight as Covid lockdowns hit production
Ø Aditya Birla Capital Posts Highest-ever Quarterly Net Profit Of Rs 375 Cr
Ø Penna Cement Files Rs 1,550-Cr IPO Papers With Sebi
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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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