Global  

Stimulus splurge restarts stocks rally

Video Credit: Reuters Studio - Duration: 01:48s - Published
Stimulus splurge restarts stocks rally

Stimulus splurge restarts stocks rally

Shares jumped on Tuesday as sentiment was lifted by the launch of the U.S. Federal Reserve's corporate bond buying program and concerns about a second wave of global coronavirus infections eased.

Ciara Lee reports

Global shares gained Tuesday (June 16).

The gains came as the U.S. Federal Reserve started up its corporate bond buying program.

And as worries which had rattled investors on Monday (June 15) about a second wave of infections eased slightly.

Data showed new cases in Beijing were down, as it banned high-risk people from leaving the capital.

Meanwhile the Fed said it would start purchasing corporate bonds on Tuesday in the secondary market.

It's one of several emergency facilities launched in the wake of the pandemic.

A flood of liquidity in the form of fiscal and economic stimulus, along with gradual re-openings of global economies, has sparked a sharp rally in recent weeks.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 3.2%, its biggest one-day gain since March 25th.

While Japan's Nikkei closed up nearly 5 percent.

European shares joined the rally, with major indexes rising in early deals.

The pan-European STOXX 600 index rose 2.2%, recovering from a slump in the past few sessions Travel and leisure stocks surged 3.3%, led by a 5.7% jump in Cineworld after the British cinema operator said it expected all of its theatres to reopen by July.

Airline operator Lufthansa gained 4.8% after saying late on Monday it was seeking to strike agreements with worker representatives by June 22nd on how to make cuts equivalent to 22,000 full-time positions.

But some analysts are not convinced the rally has staying power, and predict further volatility.

Oil prices made marginal gains, reversing earlier losses.

Hopes for further cuts in crude supplies took the sting out of concerns over fuel demand in the event of a second wave.




You Might Like


💡 One News Page Knowledge: Other News Mentions

Federal Reserve Federal Reserve Central banking system of the United States

Stocks Fall Despite Wall St Stimulus Hope; Dollar Dips

NEW YORK: Wall Street rose in a choppy session on Thursday on hopes of more economic stimulus but the gains were not enough to lift an index of stocks across the..
WorldNews

Oil drops after warnings on US economy and global crude demand

Oil dropped toward $39 a barrel, even after a decline in American crude and fuel stockpiles following warnings over global energy demand and the state of the US..
WorldNews

Asian shares fall as caution sets in after Wall St retreat

Asian shares were mostly lower Thursday as caution set in after a retreat on Wall Street driven by a decline in technology shares. Market players are feeling..
WorldNews
Powell: Congress, Fed need to 'stay with' aid [Video]

Powell: Congress, Fed need to 'stay with' aid

In his second trip to Capitol Hill this week, Federal Reserve Chairman Jerome Powell told lawmakers that assistance from the Fed and Congress are needed to bolster the economic recovery.

Credit: Reuters Studio    Duration: 00:59Published

Asia defies Wall Street weakness but economy, election worries cap gains

SINGAPORE/NEW YORK - Asian stocks inched up on Friday, despite Wall Street declines, but struggled to make deeper gains as worries about a faltering economic..
WorldNews

MSCI MSCI American financial service provider

Asian shares make tepid recovery on tech rally

Asian shares rose on Friday after robust US housing data supported a late tech-driven rally on Wall Street, with investors picking up the pieces a day after a..
WorldNews
Equity Indices in the Red amid Weak Global Cues [Video]

Equity Indices in the Red amid Weak Global Cues

Equity benchmark indices traded lower during early hours on September 22 while Asian markets opened weak after the sharp pullback overnight in US stocks. At 10:15 am, the BSE S-P Sensex was down by 301 points or 0.79 per cent at 37,733 while the Nifty 50 moved lower by 66 points or 0.59 per cent at 11,184. All sectoral indices at the National Stock Exchange were in the negative terrain with Nifty realty dipping by 4.6 per cent, PSU bank by 3.2 per cent, metal by 2.9 per cent and auto by 2.3 per cent. Among stocks, energy major GAIL was the top loser after sliding 4.9 per cent to Rs 83.85 per share. Adani Ports fell by 4.5 per cent and Tata Motors by 4 per cent. Tata Steel, Hindalco, ONGC, Bajaj Finance, Zee Entertainment and Bharti Infratel too traded lower by over 3 per cent. However, Tata Consultancy Services and ICICI Bank were in the green with thin margins. Meanwhile, Asian markets opened weak even after the sharp pullback overnight in US stocks. Investor sentiment took a hit with possible delays in expanded US stimulus. The undertone remained cautious as Europe sees some countries lockdown for the second time as COVID-19 cases jump which could hurt economic activity. Hong Kong shares of HSBC and Standard Chartered fell more than 2 per cent each as global banking stocks remained under intense pressure on reports about financial institutions allegedly moving illicit funds. MSCI's broadest index of Asia Pacific shares outside Japan was down by 0.5 per cent. Hong Kong's Hang Seng index was down by 0.5 per cent while Japanese markets were closed for a public holiday.

Credit: ANI    Duration: 01:50Published

Lufthansa Flag-carrier airline of Germany

Struggling Lufthansa to slash MORE jobs on top of previously announced 22,000 cuts

German flagship carrier Lufthansa announced on Monday that it will cut more jobs amid projections of a bleak future for the global airline industry in the wake..
WorldNews

Beijing Beijing Capital of the People's Republic of China

'TikTok is not China': Popular video-sharing app denies Australian content is moderated for Beijing's benefit

TikTok Australia has denied the Chinese Communist Party wields power over content during a parliamentary inquiry in Canberra.
SBS

China demolished thousands of mosques in Xinjiang in recent years: Report

BEIJING: Chinese authorities have demolished thousands of mosques in , an Australian think tank said Friday, in the latest report of widespread abuses in the..
WorldNews
At A Strained UN Security Council Meeting, China Ambassador Lets Fly At US [Video]

At A Strained UN Security Council Meeting, China Ambassador Lets Fly At US

The United States appears to be getting on China's very last nerve. That is, if the remarks made by China's Ambassador to the United Nations on Thursday truly reflects Beijing's sentiments. According to CNN, at a tense meeting of the UN Security Council, Zhang Jun said Thursday that the US has 'created enough troubles for the world already.' Zhang Jun's comments was a retort to US Representative to the UN Kelly Craft, who accused China of hiding the virus's origin and minimizing its danger.

Credit: Wochit News    Duration: 00:41Published
Protest against China slave camps, 'genocide' of Uyghurs outside UN office [Video]

Protest against China slave camps, 'genocide' of Uyghurs outside UN office

A protest was organised against China outside the United Nations office in Geneva, Switzerland. The 3-day long demonstration, consisting of a photo exhibition, was organised by a group called the World Uyghur Congress. It was titled 'Made In China = Uyghur Forced Labour'. The protestors accused the Chinese government of forcing the Uyghurs, a Muslim minority group in the country's northwest Xinjiang province, into forced labour and even attempting a genocide. Beijing has allegedly been trying to stamp out the community's religious and cultural identity in order to assimilate it more fully into the majority Han Chinese community. Dolkun Isa, president of the World Uyghur Congress, sought international pressure on China to stop the Uyghurs' persecution and boycott by international companies to prevent forced labour. Watch the full video for more.

Credit: HT Digital Content    Duration: 02:14Published

Nikkei 225 Nikkei 225 Japanese stock market index

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
Sensex cracks by 335 points but pharma stocks outperform [Video]

Sensex cracks by 335 points but pharma stocks outperform

Equity benchmark indices swung nearly 1 per cent lower during the afternoon session on July 30 ahead of the expiry day of monthly futures and options contracts. At the closing bell, the BSE S and P Sensex was down by 335 points or 0.88 per cent at 37,736 while the Nifty 50 lost 101 points or 0.9 per cent at 11,102. Most sectoral indices at the National Stock Exchange were in the red except for Nifty pharma which gained by 3.1 per cent and IT which crawled up by 0.6 per cent. Nifty bank slipped by 2 per cent, financial service by 1.8 per cent and metal by 1.2 per cent. Among stocks, energy majors were big losers with Bharat Petroleum Corporation down by 8 per cent to Rs 417.80 per share. IndianOil Corporation dipped by 4.1 per cent, ONGC by 2.4 per cent and Power Grid Corporation by 2.3 per cent. Banking scrips too witnessed losses with IndusInd Bank dipping by 5.4 per cent, Axis Bank by 3.4 per cent and State Bank of India by 2.4 per cent while home loan lender lost by 3.6 per cent. Pharma stocks, however, witnessed handsome gains with Dr Reddy's advancing by 4.6 per cent to close at Rs 4,500 per share. Sun Pharma and Cipla were up by 3.7 per cent and 0.8 per cent respectively. Wipro, Infosys, Vedanta, Maruti Suzuki, Britannia and Reliance Industries too traded with a positive bias. Meanwhile, Asian stocks were flat as the US Federal Reserve members voted to leave the target range for short-term rates between 0 and 0.25 per cent to support the country's virus-battered economy. Japan's Nikkei and Hong Kong's Hang Seng were down by 0.26 per cent and 0.69 per cent but South Korea's Kospi moved up by 0.17 per cent.

Credit: ANI    Duration: 01:29Published

Related news from verified sources


Tweets about this