The weakness in the Chinese market is on the back of weak industrial production data and a lot of investigations and arrests over the past few weeks, says Shaun Rein, managing director, China Market Research Group.
Emerging markets have seen a brutal sell-off this year after sharp falls in the value of the Argentine peso, Turkish lira, South African rand and Brazilian real triggered panic selling across the asset class, with analysts largely blaming the turbulence on the Federal Reserve's move to begin tapering its asset purchases.
In an interview to CNBC-TV18, Regan Homavazir, analyst, Darashaw says one should not refrain from panic selling and adds that the Nifty may hold the 5650 level.
US Treasury Secretary, Timothy Geithner hit back at S&P today. Speaking to CNBC's John Harwood, Geithner said the S&P's move was a terrible error of judgement and reflected utter lack of knowledge on part of the rating agency.
Commodities collapse signals reprieve for U.S. dollar
Panic selling sent Tokyo shares down 12.18% on worries Japan's nuclear crisis would become a catastrophe today, after radiation levels near a quake-stricken nuclear plant surged following explosions and a fire.
As we are heading towards the Union Budget to be announced on February, experts say that it is unlikely to be a game changer. However, Sandeep J Shah, CEO, Sampriti Capital feels that the market upside is 5,600-5,800 but it is not a pre-budget rally.