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Roundup: Tokyo stocks close higher on hopes for much-needed U.S. stimulus

WorldNews Tuesday, 11 August 2020
Roundup: Tokyo stocks close higher on hopes for much-needed U.S. stimulusTOKYO, Aug. 11 (Xinhua) -- Tokyo stocks closed higher Tuesday as a comparatively soft yen encouraged buying with sentiment also helped by U.S. President Donald Trump's executive orders to assist those who have lost jobs due to the pandemic amid hopes U.S. lawmakers will swiftly agree on a sizable virus-related stimulus package to help the virus-battered economy. The 225-issue Nikkei Stock Average gained 420.30 points, or 1.88 percent, from Friday to close the day at 22,750.24, marking its highest closing level since July 22. The broader Topix index of all First Section...
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Video Credit: Wochit Tech - Published
News video: US Stocks Decline, Stimulus Negotiations Heat Up

US Stocks Decline, Stimulus Negotiations Heat Up 00:32

Reuters US stocks closed down on Tuesday as investors mulled Senate Republicans' coronavirus stimulus package and a slew of earnings reports. The GOP continued negotiations on its initial fiscal relief plan throughout the day. The $1 trillion package includes another round of $1,200 payments and...

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Tokyo Tokyo Capital and prefecture of Japan

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Equity indices spurt with rally in banking scrips, IndusInd up 12 pc [Video]

Equity indices spurt with rally in banking scrips, IndusInd up 12 pc

Equity benchmark indices traded higher on the first day of September futures and options series with banking and financials contributing significantly to the gains. The BSE S and P Sensex closed 354 points or 0.9 per cent higher at 39,467 while the Nifty 50 gained by 96 points or 0.83 per cent at 11,655. Except for Nifty auto, FMCG and metal, all sectoral indices at the National Stock Exchange were in the green with Nifty PSU bank gaining by 4.9 per cent, private bank by 4.5 per cent and financial service by 2.1 per cent. IndusInd Bank jumped by 12 per cent to close at Rs 679.05 per share while Axis Bank moved up by 7.9 per cent, ICICI Bank by 4.4 per cent and Kotak Mahindra Bank by 3.7 per cent.Punjab National Bank was up by 5.6 per cent at Rs 37.30 per share while State Bank of India gained by 4.5 per cent to Rs 225.40. The other major gainers were UPL, Sun Pharma, Adani Ports, Grasim and Bharti Infratel.However, JSW Steel, Hero MotoCorp, Tata Motors, HDFC Life, Infosys, Dr Reddy's and Hindustan Lever traded with a negative bias. Meanwhile, Asian shares were mixed as investors pondered over the US Federal Reserve's new strategy to adopt an average inflation target and restore the United States to full employment in the fight to contain coronavirus pandemic. Japanese shares dropped with the Nikkei down 1.41 per cent as Prime Minister Shinzo Abe resigned because of a chronic health condition, saying he will stay on until a new leader is appointed.But Hong Kong's Hang Seng rose by 0.56 per cent and South Korea's Kospi ticked up by 0.4 per cent.

Credit: ANI    Duration: 01:13Published
Equities on downward swing, Reliance cracks by 1.8 pc [Video]

Equities on downward swing, Reliance cracks by 1.8 pc

Equity benchmark indices closed marginally lower on Friday in line with Asian peers following a record contraction in economic data from the United States. The BSE SandP Sensex was down by 129 points or 0.34 per cent at 37,607 while the Nifty 50 slipped by 29 points or 0.26 per cent at 11,073. Sectoral indices at the National Stock Exchange were mixed with Nifty pharma gaining by 3.5 per cent and PSU bank by 1.4 per cent. But Nifty financial service, private bank and auto were in the red. Among stocks, Reliance Industries lost by 1.84 per cent to Rs 2,070 per share on profit-booking, a day after it reported over 30 per cent jump in Q1 net profit at Rs 13,248 crore. Eicher Motors slipped by 2.7 per cent, Bajaj Auto by 1.6 per cent and Hero MotoCorp by 1.2 per cent. HDFC Bank, HDFC and HDFC Life lost by 1.6 per cent, 1.3 per cent and 1.2 per cent respectively. The other prominent losers were Kotak Mahindra Bank, Wipro and Asian Paints. However, Sun Pharma moved up 5.4 per cent to close at Rs 537.80 per share while Cipla witnessed a gain of Rs 5.1 per cent. JSW Steel, State Bank of India, Axis Bank, HCL Technologies and Tata Motors too traded in the green. Meanwhile, Asian shares slid as abysmal economic data from the United States and rising global COVID-19 cases weighed on sentiment. US GDP collapsed at a 32.9 per cent annualised rate in the second quarter, the deepest decline on record, while jobless claims rose last week. Japan's Nikkei dropped by 2.82 per cent, Hong Kong's Hang Seng by 0.47 per cent and Seoul's Kospi by 0.78 per cent.

Credit: ANI    Duration: 01:17Published

Xinhua News Agency Xinhua News Agency Official press agency of the People's Republic of China

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