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1 hour ago
Flows into Indian equity funds hit a 23-month high in February, according to Goldman Sachs.
Container ships in India flag, stock market, exchange economy and trade, oil production, import and export business and logistics.
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Goldman Sachs said monthly inflows into India’s domestic equity funds reached a 23-month high of $3.2 billion in February, based on data from the Association of Investment Trusts of India.
GS said inflows into equity funds through systematic investment plans and SIPs remained strong, hitting a new high of $2.3 billion.
India also received $2.2 billion in foreign inflows in the week ending March 15, according to GS.
The country’s Nifty 50 index fell 0.3% on Monday after falling more than 2% last week.
— Shreyashi Sanyal
3 hours ago
China’s retail and industrial statistics exceed expectations
China reported better-than-expected retail and fixed asset investment for the first two months of 2024.
Retail sales rose 5.5% and industrial production rose 7%, both exceeding analyst expectations. The urban unemployment rate in February was 5.3%.
Investment in real estate fell 9% year-on-year in January and February, while manufacturing rose 9.4% during that period.
China’s data for January and February is typically combined to smooth out fluctuations from Lunar New Year, the country’s biggest holiday, when businesses are closed for at least a week.
— Evelyn Chen
4 hours ago
Nikkei Stock Average leads Asia’s rise, supported by manufacturing stocks
Japan’s Nikkei Stock Average rose more than 2% on Monday, topping the 39,000 yen mark for the first time in 10 days, with manufacturing and healthcare stocks leading the rise.
However, the biggest gainer on the index was financial technology company Rakuten Group, which soared 7.38%.
Other top gainers include automaker Nissan Motor Co., which rose more than 6.5%, and pharmaceutical company Chugai Pharmaceutical, which rose 4%.
The yen fell 0.18% on the strength of the index, trading at 149.29 yen against the dollar.
7 hours ago
Economists say Fed Chair Jerome Powell will be less transparent this week
Gregory Daco, chief economist at EY, said the Federal Reserve chair may not provide much clarity at the central bank’s policy meeting, which begins Tuesday.
“We expect Fed Chairman Powell to be less transparent about the possibility of rate cuts being ‘live’ at his May and June meetings than he was in January,” Darko said in a note Friday. . “However, we believe that Fed policymakers are beginning to discuss not just policy easing, but also the timing and logistics of tapering the balance sheet quantitative tightening process. Expect.”
— Brian Evans
7 hours ago
Stock futures little changed
Stock futures were little changed on Sunday as Wall Street awaited insight on a rate cut ahead of this week’s Federal Reserve policy meeting.
Dow Jones Industrial Average futures fell 20 points, or 0.05%, while Nasdaq 100 futures rose 0.1%. Futures tracking the S&P 500 remain near the flatline
— Brian Evans
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