Asia stocks extend rally as economic recovery hopes boost confidence Technical Analysis 

Asia stocks extend rally as economic recovery hopes boost confidence

By Administrator_India Capital Sands Asian stocks rallied for their ninth straight day on Tuesday and oil prices jumped as the lifting of coronavirus lockdowns in many countries fed investor hopes of a relatively quick global economic recovery. Markets have been particularly encouraged by a May U.S. jobs report last week that showed a surprise fall in the unemployment rate, sending Wall Street indices surging with the Nasdaq hitting a record close on Monday Global financial markets were battered in March as investors fretted over extent of both the short and longer…

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RBI may not follow the Fed with rate cut, economists say

By Administrator_India, Capital Sands Indian debt markets have priced in a 25 basis points rate cut by the Reserve Bank of India (RBI) at its April policy meeting or even sooner, but some economists remain circumspect and warn the rally in bond yields could prove premature. The benchmark 10-year bond yield dropped as much as 13 basis points on Wednesday to 6.21% before closing at 6.23%, in the wake of the U.S. Federal Reserve’s surprise cut, which raised expectations the RBI would follow suit. The RBI eased rates by 135…

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Global supplier India curbs drug exports as coronavirus fears grow

By Administrator_India, Capital Sands India, the world’s main supplier of generic drugs, has restricted the export of 26 pharmaceutical ingredients and the medicines made from them, including Paracetamol, a common pain reliever also sold as acetaminophen, as the coronavirus outbreak plays havoc with supply chains. The Indian government urged calm and said there were enough stocks to manufacture formulations for two-to-three months. The government’s list of 26 active pharmaceutical ingredients (APIs) and medicines accounts for 10% of all Indian pharmaceutical exports and includes several antibiotics, such as tinidazole and erythromycin,…

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Japan’s Abe says ready to top up fiscal spending if coronavirus hits economy

By Administrator_India, Capital Sands   Japanese Prime Minister Shinzo Abe said on Tuesday his government was ready to deploy further fiscal stimulus measures if needed to protect the country’s already fragile economy from the negative effects of the coronavirus. Abe, who has come under fire for his handling of the crisis, has pledged to focus over the next couple weeks on halting the spread of the virus in Japan, where the number of infections has almost reached 1,000. Twelve people have died. The outbreak comes at a critical time for…

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New York confirms first coronavirus case; U.S. ramps up preparations

By Administrator_India, Capital Sands New York state confirmed its first positive coronavirus test, Governor Andrew Cuomo said on Sunday night, as the U.S. government said it would start screening travelers for the virus and hike production of protective masks. Cuomo said on Twitter that a woman in her 30s contracted coronavirus during a recent trip to Iran and was in quarantine in her home. He did not say where the woman lived. “The patient has respiratory symptoms, but is not in serious condition and has been in a controlled situation…

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Japan minister flying to Lebanon to make case for Ghosn’s return

By Administrator_India, Capital Sands Japan’s vice minister of justice is traveling to Lebanon this weekend to try to make the case that fugitive ex-Nissan Chairman Carlos Ghosn should stand trial in Japan. Hiroyuki Yoshiie will leave Tokyo on Saturday and meet with Lebanese justice minister Albert Serhan on Monday, Japan’s justice ministry said. The former leader of the Renault Nissan auto making alliance made a sensational year-end escape from Japan, where he faces trial for financial crimes. He denies the charges. Ghosn said he fled to his childhood home of Lebanon…

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Dovish board member calls for review of BOJ’s policy framework

By Administrator_India, Capital Sands The Bank of Japan should review its monetary policy framework to re-examine its tools for propping up inflation, one of its board members said on Thursday, as the fallout from the coronavirus outbreak risks tipping the economy into recession. Goushi Kataoka, one of the most dovish members of the BOJ board, said the government and the central bank must coordinate their policies to maximise the boost to economic growth.   “I believe there’s room for the BOJ to review its policy framework and re-examine its effect…

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New UK finance minister Sunak should resist rewriting fiscal rules: IFS

By Administrator_India, Capital Sands New finance minister Rishi Sunak should resist the urge to rewrite Britain’s fiscal rules ahead of the budget next month and he should make plain that any spending increases will mean more tax, a think-tank said on Wednesday. Sunak will deliver the first post-Brexit budget, which is expected to entail a big increase in spending, on March 11. The Institute for Fiscal Studies (IFS) said the current path of borrowing raised the risk that the government would breach the fiscal rules that were part of Prime…

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Stocks – Dow S&P Suffer Biggest One-Day Loss in Two Years on Virus Fear Selling

By Administrator_ India, Capital Sands The Dow and S&P suffered their biggest daily loss in two years on Monday, paced by a selloff in energy and tech stocks on worries about a potential corona-virus pandemic outbreak. The S&P 500 tumbled 3.35%, Nasdaq Composite lost 3.71% and the Dow Jones Industrial Average fell 3.56%, or 1,032 points. The World Health Organization warned that a “sudden increase in new cases” outside of China is “deeply concerning,” following a rise in infections of Covid-19 in Italy, South Korea and Iran. With fears rising that the window of opportunity to…

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China approves imports of all poultry, poultry products from U.S.

By Administrator_India, Capital sands China has approved the import of all poultry and poultry products from the United States, the Ministry of Agriculture and Rural Affairs said on its website on Monday. Beijing had previously banned all trade in poultry products from the United States due to outbreaks of avian influenza there. It has allowed the import of chicken meat products since late last year. The plan to lift the nearly five-year ban on U.S. poultry was announced by China’s commerce ministry in late October but publication on the website…

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