From global market experts' focus on widening gap in Indian and Chinese equities, to softening of industrial metal prices as economy slows down, and South Africa's journey to be a crude voice, here's a take on the world of markets
Tiger executives have told others that Xi’s reelection and his stacking of the Communist Party’s leadership with loyalists at the recent party Congress could increase geopolitical tensions and means the country’s Zero-COVID policy will likely continue, the WSJ reported.
Emerging stock markets such as Brazil, India, Turkey or South Africa have trailed significantly behind developed markets
The Dow Jones industrial average closed down 41.3 points, or 0.23 percent, to 17,582.57, the S&P 500 lost 1.8 points, or 0.09 percent, to 2,049.8 and the Nasdaq Composite ha added 12.79 points, or 0.27 percent, to 4,821.66.
The Dow Jones industrial average rose 9.72 points, or 0.06 percent, to 17,158.66, the S&P 500 gained 4.05 points, or 0.2 percent, to 2,016.71 and the Nasdaq Composite dropped 11.66 points, or 0.24 percent, to 4,891.43.
In morning trade, Asian stocks traded mostly higher on Thursday following a positive lead from Wall Street, with Chinese equities leading gains after mainland markets resumed trade after a week-long holiday.
"Indeed, one can possible say, with a rate cut in September, you could see a movement slightly down at around 7.50-7.60% (2025 yield) in the near-term," says Shilpa Kumar of ICICI Bank.
Brent crude for October was down 70 cents at USD 48.91 a barrel by 1315 GMT. US crude for October was down 60 cents at USD 45.45.
Independent market expert Ambareesh Baliga says it is in fact time for the retail investors to start nibbling in. Buy every dip.
The Shanghai Composite Index lost 3.4 percent, in a new stumble that underscored fragile investor confidence in the market and pushed emerging Asian currencies lower.
The net inflow by Foreign Portfolio Investors (FPIs) in equities stood at Rs 5,319 crore in July while the same for the debt market was at Rs 4 crore, taking the total to Rs 5,323 crore (USD 842 million), according to the latest data from depositories.
The Dow Jones industrial average and S&P 500 chalked up gains of more than 1 percent, while the Nasdaq Composite lagged slightly.
Experts attribute the renewed strength partly to the suspension of trading in many stocks and restrictions on the sale of shares in others, imposed by the authorities following the crash.
"I`m not worried because at 6 or 7 percent [growth], it`s [still] huge," Mobius, the executive chairman at Franklin Templeton, told CNBC on Tuesday.
Mark Konyn, CCAM told CNBC-TV18 that post the Budget also investors feel that there is still fundamental and structural weakness in India. He believes that market is not yet convinced that the additional revenues can be raised as it is being hoped.
Leave it to China to defy a popularly held adage.