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Category: Economic News

Economic News 

China Lets Traders Push Yuan Toward Best Quarter on Record

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By Administrator_India Capital Sands The yuan has strengthened 4.2% since the end of June to 6.772 per dollar, set for the biggest ever quarterly gain in Bloomberg data going back to 1981. The currency is the best performer in Asia in the third quarter, with the buying momentum being close to the strongest since January. The yuan is being supported by a slump in the dollar, while Chinese media has been attributing the gains to the nation’s economic recovery. The central bank has also helped by not standing in its…

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Economic News 

SBI, HDFC, ICICI Bank see surge in suspicious transactions during COVID-19

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By Administrator_India Capital Sands Top banks in India have reported a surge in suspicious transactions by companies in cash and overseas transfers since COVID-19. State Bank of India, Bank of Baroda, ICICI Bank, and HDFC Bank have started red-flagging such transactions that defy traditional company patterns. Banks are keeping an eye on companies that have recorded a spike in trading, dealing with unrelated goods and services, or there’s a sudden outflow of money to other countries, said a report. The Financial Intelligence Unit has been inspecting several transactions and even pulled…

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Business News Economic News 

Asian stocks at seven-month highs after Wall Street cracks more records

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By Administrator_India Capital Sands   Asian shares climbed to a seven-month peak on Wednesday tracking the S&P 500, which scaled all-time highs driven by ever expanding policy stimulus aimed at cushioning the blow to economies from the coronavirus pandemic. MSCI’s broadest index of Asia-Pacific shares outside of Japan rose 0.3%, up for a third straight day to 570.80 points, a level not seen since late January. The gains were driven by Australian shares, up 0.8% and South Korea, which added 0.6%. Japan’s Nikkei nudged up too though Chinese shares started weaker with…

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Business Economic News 

Asia shares move ahead led by China gains

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By Administrator_India Capital Sands   Asian shares firmed toward recent peaks on Monday as Chinese markets swung higher, while investors waited to see if the recent sell-off in longer-dated U.S. Treasuries would extend and maybe take some pressure off the beleaguered dollar. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.5% to 565.74, moving nearer to the January top of 574.52. Chinese blue chips led the way with gains of 2.0%, with the country’s central bank providing more medium term loans to the financial system. Japan’s Nikkei dipped 0.6% after touching a…

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Business Economic News 

China’s retail sales unexpectedly fall as consumer caution prevails

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By Administrator_India Capital Sands   China’s retail sales slipped in July, dashing expectations for a modest rise, as consumers in the world’s second-largest economy failed to shake off wariness about the coronavirus, while the recovery in the factory sector struggled to gain momentum. Asian markets pulled back on Friday following the disappointing set of economic indicators, which raised concerns about the fragility of China’s emergence from coronavirus. China’s recovery had been gathering pace after the pandemic paralysed huge swathes of the economy as pent-up demand, government stimulus and surprisingly resilient…

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Covid-19 Economic News 

Dollar wallows and stocks inch higher as stimulus eyed

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By Administrator_India Capital Sands   The dollar languished and just about everything else rose on Thursday, as markets took patchy U.S. economic data as a harbinger of ever more stimulus and brinkmanship on Capitol Hill as a sign that a deal on a new U.S. stimulus package is close. Following Wall Street’s lead, MSCI’s broadest index of Asia-Pacific shares outside Japan extended the week’s rally by 0.3% to a fresh six-and-a-half-month high. Japan’s Nikkei index was steady and Asian currencies were on the march, with the Australian dollar gaining to around…

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Commodity Economic News 

Hike in Gold Price Slows, Still Near Record Highs

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By Administrator_India Capital Sands   Gold hovered around record highs on Wednesday morning in Asia as the US dollar remained weak and debate continued in the U.S. over the next COVID-related stimulus package. Gold futures gained 0.05% to $1,945.60, lower than the $1,968.00 level hit on Tuesday, suggesting that the relentless climb in the price of the yellow metal may be coming to an end. Investors are also looking to the U.S. Federal Reserve’s meeting, scheduled for later in the day, for clues on the U.S. economy’s health. However, some…

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Economic News Political News 

Trump replaces campaign manager amid slide in opinion polls

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By Administrator_India Capital Sands   President Donald Trump demoted his longtime campaign manager on Wednesday, a move aimed at shoring up his re-election bid as he trails Democratic candidate Joe Biden in opinion polls less than four months before the Nov. 3 vote. In a Facebook post, Trump said campaign manager Brad Parscale would be replaced by Bill Stepien, who has been the deputy campaign manager. Parscale will shift to a role focused on digital and data strategy, the president said. A leadership shakeup had long been rumored. Parscale was blamed…

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Stocks in focus on September 18, 2020 Economic News 

Sensex, Nifty near four-month highs as HDFC Bank jumps

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By Administrator_India Capital Sands   Indian shares rose for a fourth straight session on Monday, as HDFC Bank Ltd gained after reporting strong loan growth and hopes of a recovery in the global economy pushed stock markets across Asia higher. The Nifty rose 0.98% to 10,711.05, while the Sensex was up 0.82% at 36,315.69, both trading near their four-month peaks. HDFC Bank jumped 3.4%, its biggest intraday percentage rise since mid-June, after the country’s top private-sector lender reported a loan growth of 21% as of June 30, compared to a…

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Stocks in focus on September 18, 2020 Economic News India 

Indian shares hit near four-month highs, Reliance rises on Intel investment

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By Administrator_India Capital Sands   Indian shares scaled near four-month highs on Friday, as upbeat data from the United States and China outweighed concerns about surging domestic cases of the novel coronavirus, while Reliance Industries climbed after Intel invested in its digital unit. The benchmark indexes rose for a third day, with the Nifty rising 0.39% to 10,592.55 and the Sensex by 0.34% to 35,963.73. Both indexes were set for their third straight weekly gain. Broader Asian markets were supported by data that showed China’s services sector in June expanded…

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