Oil steady amid war jitters, surprise build in US crude stocks
==========

Oil prices held steady as the market weighed concerns over escalating conflict in Europe and the Middle East with demand worries following an unexpected build in US crude inventories. Brent crude futures rose 2 cents to $85.35 a barrel, while US West Texas Intermediate crude was down 6 cents to $81.51 per barrel. Both benchmarks gained over $1 in the previous session after a Ukrainian drone strike led to an oil terminal fire at a major Russian port. Israeli Foreign Minister Israel Katz warned of a nearing 'all out war' with Lebanon's Hezbollah. US crude stocks rose by 2.264 million barrels in the week ended June 14, according to market sources citing American Petroleum Institute figures.

#OilPrices #WarJitters #UsCrudeStocks

https://www.brecorder.com/news/40308882 

 Asian markets rise with Wall St as traders eye latest US data
==========

Asian equities rally as investors await US economic data to gauge inflation outlook. Federal Reserve officials' plans for interest rates after lowering their guidance for cuts this year are being closely watched. Traders are also monitoring developments in France, with concerns that a snap legislative election could cause political turmoil in the European Union. The S&P 500 and Nasdaq closed at record highs due to continued buying of tech stocks. Tokyo and Taipei markets are up over 1%, with gains also seen in Hong Kong, Shanghai, Sydney, Singapore, Seoul, and Wellington. US retail sales, business inventories, and industrial production data will provide the latest snapshot of the economy. Philadelphia Fed president Patrick Harker sees one rate cut this year, while Minneapolis Fed chief Neel Kashkari says officials need not rush to loosen policy. Asian markets are generally upbeat and well placed for more gains due to expected interest rate cuts and strong earnings.

#AsianMarkets #WallStreet #UsData #Inflation #InterestRates #TechStocks #France #EuropeanUnion #RetailSales #BusinessInventories #IndustrialProduction #FederalReserve

https://www.brecorder.com/news/40308852 

 The tide is turning
==========

The Indian elections indicate a turning of the tide for Narendra Modi and the Bharatiya Janata Party (BJP). The defeat and retreat of socialism worldwide in 1989-91 opened the door to neoliberal capitalist globalization, but its hollowness and tilt towards enriching the wealthy have been exposed. India's ground realities have asserted themselves, revealing the challenges behind the GDP growth figures. Modi's ruling with absolute authority will no longer be available to him, and his aggressive repressive drives against religious minorities and threatened reversal of the reservations policy proved negative factors at the elections. The traditional North-South divide operated unexpectedly, with reversals in Uttar Pradesh and Maharashtra. The saffron drive seems to have stalled, raising questions about its future in India. The rise of Hindutva and revanchist views of history are the parents of today's saffron brigade. Modi may have to tread carefully if he is to avoid biting the dust before his term ends. The prospects for opening or improving relations with Pakistan are slim. Both countries are stuck in their own paradigms. The same saboteur of peace, Musharraf, once attempted to seal peace between the two neighbors, but it remains uncertain when such a turn will arrive again.

#IndianElections #NarendraModi #Bjp #Capitalism #SaffronDrive #Hindutva #RevanchistViews #PakistanRelations

https://www.brecorder.com/news/40307791 

 Asia shares stumble; political uncertainty grips euro
==========

Asian stocks sank as traders reduced bets for Federal Reserve rate cuts; snap election call in France sparked wider political concerns and weighed on the euro; MSCI’s broadest index of Asia-Pacific shares outside Japan slumped 0.46%; US futures eased slightly; dollar firmed to 105.10 against a basket of six peers; Japan’s Nikkei rose 0.42%; Bank of Japan holds its two-day monetary policy meeting this week; euro tumbled to a one-month low; oil prices traded higher; Brent crude futures gained 0.13% to $79.72 a barrel; spot gold rose 0.18% to $2,296.65 an ounce.

#AsianStocks #FederalReserve #Euro #OilPrices #GoldPrices

https://www.brecorder.com/news/40307684 

 There’s no political stability, ‘elections were not free and fair’, IK tells SC
==========

Imran Khan, founder of Pakistan Tehreek-e-Insaf (PTI), addressed the Supreme Court and complained about the lack of political stability and the unfairness of the elections. Chief Justice Qazi Faez Isa warned politicians and parliamentarians that they would be responsible if any untoward incident occurred. The court directed lawyers to file a concise synopsis within one week and asked the National Accountability Bureau (NAB) to submit a report on expenditure, budget, and recoveries. Imran Khan expressed his concerns about the lack of democracy, financial crises, and money laundering in the country. He called on the Supreme Court to bring the nation out of the uncertain situation. The chief justice urged politicians to sit together and solve the country's problems, emphasizing the need for stability and cooperation. Imran Khan also discussed the appointment of the NAB chairman and the role of the Parliament in improving the NAB law. The court reminded him not to comment on cases and focus on the relevant issues. Imran Khan mentioned the list of parliamentarians who benefited from amendments to the National Accountability Ordinance, 1999. The court clarified that it was not wrapping up cases before the Accountability Court and that they would go to other courts. Imran Khan highlighted the need for rule of law and accountability, and the recovery of money from individuals involved in corruption. The court acknowledged the importance of eliminating corruption but stated that it was the Parliament's responsibility to improve the NAB law. The article concludes with Imran Khan thanking the chief justice for the opportunity to add his thoughts about the case.

#ImranKhan #SupremeCourt #Elections #PoliticalStability #Pakistan

https://www.brecorder.com/news/40307257 

 Dollar slips ahead of inflation data
==========

The dollar eased against most currencies on Tuesday ahead of key US and euro zone inflation data later this week. The greenback was also on the verge of its first monthly decline in 2024. Markets are currently more than fully priced for a US rate cut in December. Against a basket of currencies, the dollar was down 0.09% at 104.47, for a 1.76% decline on a monthly basis. The euro was up 0.13% at $1.0872. German inflation data due on Wednesday and the wider euro zone’s reading on Friday will be watched for clues on how soon easing from the central bank could come. The dollar took a modicum of support from US data showing a surprise rise in consumer confidence this month. All of that data, however, will be a sideshow to the main focus for markets on Friday when the US core personal consumption expenditures (PCE) price index report - the Federal Reserve’s preferred measure of inflation - is released. Expectations are for it to hold steady on a monthly basis.

#Dollar #InflationData #UsRateCut #EuroZone #ConsumerConfidence #FederalReserve #PcePriceIndex

https://www.brecorder.com/news/40305731 

 Dollar slides after US CPI data
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The dollar fell after US consumer prices rose less than expected in April, indicating inflation has resumed a downward trend. The market welcomed the CPI news as it confirmed that the froth in the first quarter was not going to continue in force into the second quarter. Futures traders priced in rate cuts by the Federal Reserve in September and December. The dollar index fell to a one-month low at 104.41 but later pared losses to trade 0.25% lower at 104.77. The dollar's biggest decline was against the yen, weakening 0.47% to 155.69. The drop would likely put at bay for the moment currency intervention by the Bank of Japan and other authorities. The consumer price index rose 0.3% in April, and in the 12 months through April, the CPI increased 3.4%. Retail sales were unexpectedly flat last month. The euro rose 0.18% to $1.0837, and sterling rose 0.25% to 1.2620.

#UsCpiData #Dollar #Inflation #FederalReserve

https://www.brecorder.com/news/40303686 

 Dollar slips as market awaits key inflation data
==========

The dollar slid versus most major currencies on Monday amid expectations key US data this week will show a slowing pace of inflation and consumer spending at a time of recovering European economies that also could be bolstered by interest rate cuts. The Federal Reserve is now expected to cut rates by 25 basis points as early as September and perhaps again in December. The consumer price index on Wednesday is expected to show that core CPI rose 0.3% month-over-month in April, down from 0.4% the prior month. US retail sales also will be reported on Wednesday and industrial production on Thursday. Markets are pricing in around an 80% chance of a rate cut by the Fed’s September meeting, with almost 44 basis points (bps) of reductions in total expected in 2024.

#Dollar #InflationData #UsEconomy #InterestRates

https://www.brecorder.com/news/40303240 

 US energy secretary to visit Saudi Arabia, UAE next week, officials say
==========

US Energy Secretary Jennifer Granholm will visit Saudi Arabia and the United Arab Emirates next week to work on "climate co-operation" and other issues. The visit will run from Tuesday through Thursday, with Granholm visiting the UAE first. She will participate in a meeting of the Net-Zero Producers Forum, a group of countries representing 40% of global oil and gas production. The group works on ways to cut emissions and was formed in 2021. The visit is a continuation of long-standing engagement between the US and the region.



https://www.brecorder.com/news/40302933 

 Oil higher on supply concerns
==========

Oil prices settled higher on Friday, with Brent crude futures settling up 49 cents, or 0.55%, to $89.50 a barrel, and US West Texas Intermediate crude futures settling up 28 cents, or 0.34%, to $83.85 a barrel. Supply concerns supported prices as tensions continue in the Middle East. Benjamin Netanyahu, Israel’s prime minister, said any rulings by the International Criminal Court would not affect Israel’s actions but would “set a dangerous precedent.” Israel’s military said it struck in Lebanon’s West Beqaa District and killed a militant who advanced attacks against Israel. The strong dollar and US inflation data quashed hopes that the Federal Reserve would cut interest rates soon. In the 12 months through March, US inflation rose 2.7%. The US central bank is expected to leave rates unchanged at its policy meeting next week. US Treasury Secretary Janet Yellen said US GDP growth for the first quarter could be revised higher, and inflation will ease after a clutch of “peculiar” factors held the economy to its weakest showing in nearly two years. Oil prices have flip-flopped since Yellen’s comments and the release of the inflation data on Friday. The dollar soared to a fresh 34-year high against the yen on Friday, bolstered in part by the US inflation data.

#OilPrices #SupplyConcerns #MiddleEastTensions #UsInflation #FederalReserve

https://www.brecorder.com/news/40300623 

 Asian currencies subdued after mixed US data
==========

Most Asian currencies were subdued on Friday as mixed US data solidified bets of fewer rate cuts. The broad MSCI emerging markets currency index was up 0.2% for the week so far. The Japanese yen hit a fresh 34-year low. The South Korean won lost 0.3% on Friday, but was on track to post its first weekly gain in seven weeks. The Malaysian ringgit was largely flat and headed for a 0.1% rise for the week. In Indonesia, the rupiah extended losses. The Philippines’ finance minister said the central bank has no plans to hike interest rates. Gains in US tech stocks buoyed tech-heavy South Korean and Taiwan stock markets.

#AsianCurrencies #UsData #RateCuts #MsciEmergingMarkets #JapaneseYen #SouthKoreanWon #MalaysianRinggit #IndonesianRupiah #PhilippinePeso #UsTechStocks

https://www.brecorder.com/news/40300514 

 Gold set for fifth weekly gain as geopolitical risks buoy demand
==========

Gold prices rose on Friday, on track for their fifth weekly gain, with investors gravitating towards safe-haven assets as political uncertainty in the Middle East overshadowed pressures from the prospect of higher-for-longer US interest rates. Spot gold was up 0.4% at $2,388.49 per ounce, as of 0111 GMT. US gold futures edged 0.2% higher to $2,403.30 per ounce. Bullion rose 3% so far this week. The US announced new sanctions on Iran, targeting its unmanned aerial vehicle production after its attack on Israel. Federal Reserve policymakers have rallied around the idea of holding borrowing costs where they are until probably far into the year, given slow and lumpy progress on inflation and a still-strong US economy.

#Gold #GeopoliticalRisks #SafehavenAssets #MiddleEast #UsInterestRates

https://www.brecorder.com/news/40299336 

 Surging dollar set for weekly gain as US data, Fed push back on rate cuts
==========

The resurgent dollar is heading towards a second straight week of gains as a hotter-than-expected US economy has pushed back investors' and policymakers' expectations of the trajectory of Federal Reserve rate cuts this year. The greenback's 0.17% gain for the week was somewhat capped by a slight stall in its rally since Thursday following a rare trilateral warning from finance chiefs in the United States, Japan, and South Korea over the latter two's sliding currencies, raising the risk of a potential joint intervention. Asian currencies, in particular, are under immense pressure from the dollar's strength. The yen was last little changed at 154.61 per dollar, languishing near a 34-year low and not far from the 155 level which traders see as a new line in the sand that would prompt an intervention from Tokyo. The Japanese currency was eyeing a weekly loss of more than 0.8% and was down 2% for the month thus far, ahead of the Bank of Japan's (BOJ) monetary policy meeting next week. BOJ Governor Kazuo Ueda said on Thursday the central bank may raise interest rates again if the yen's declines significantly push up inflation, highlighting the impact currency moves may have on the timing of the next policy shift. Sterling fell 0.08% to $1.2427, leaving it on track to lose 0.18% for the week. The euro eased 0.06% to $1.0637 and was set to clock a marginal weekly loss. Fed funds futures now show just about 40 basis points (bps) worth of cuts priced in for the US central bank this year - a significant pullback from the 160 bps of easing expected at the start of the year. Against a basket of currencies, the greenback rose 0.05% to 106.22, hovering near a more than five-month high of 106.51. The Australian dollar fell 0.15% to $0.6411 and eyed a weekly drop of more than 0.8%. The New Zealand dollar edged down 0.1% to $0.5895, and was similarly on track to lose 0.7% for the week.

#Dollar #UsEconomy #FederalReserve #RateCuts

https://www.brecorder.com/news/40299313 

 Equities sink, oil rallies on fears of Iran-Israel conflict
==========

Asian stocks fell and oil prices climbed on fears of a wider war in the Middle East after Iran's attack on Israel. Israel's army chief warned of a response to the attack, fueling worries of escalation. Traders were also digesting mixed Chinese economic data. Oil prices rose as uncertainty and tension in the Middle East increased. Asian stocks were sharply down, following a sell-off on Wall Street. The US economy remains strong, dampening hopes for interest rate cuts. The dollar continued to strengthen. Pakistan and the IMF are discussing a new multi-billion-dollar program. Pakistan's rupee saw a marginal gain against the US dollar. China's economy grew 5.3% in Q1, but retail sales and industrial production were below expectations. The US retail sales data beat forecasts. The Federal Reserve is under pressure to hold off cutting interest rates. Treasuries hit new year-to-date highs. The dollar briefly hit a new 34-year high against the yen. UBS warned that borrowing costs could go up if inflation is not controlled. San Francisco Fed boss said there is no rush to reduce rates. Tokyo, Hong Kong, Shanghai, Seoul, Singapore, Taipei, Wellington, Manila, and Jakarta were all sharply down. Oil prices rose in Asian trade. China's economy grew 5.3% in Q1, but retail sales and industrial production were below expectations. Pakistan and the IMF are discussing a new multi-billion-dollar program. Pakistan's rupee saw a marginal gain against the US dollar. China's economy grew 5.3% in Q1, but retail sales and industrial production were below expectations. The S&P 500 and FTSE 100 were down. Pakistan's rupee saw a marginal gain against the US dollar. The IMF said Pakistan is seeking a potential follow-up loan program. Iran aims to contain fallout in Israel response and will not be hasty. Dozens of Palestinians were killed in Gaza as Hamas vowed to 'break' Israel. Oil prices fell on a big build in US crude and fuel inventories.

#Equities #Oil #Iran #Israel #MiddleEast #Asia #Stocks #Economy #InterestRates #Inflation #Dollar #China #Imf #Pakistan #Gaza #Hamas

https://www.brecorder.com/news/40298734 

 Asia stocks slide, gold rises as Middle East conflict sparks safety rush
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Asian shares slumped and gold prices rose on Monday as risk sentiment took a hit after Iran’s retaliatory attack on Israel stoked fears of a wider regional conflict and kept traders on edge. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.7% after Iran had, late on Saturday, launched explosive drones and missiles at Israel in retaliation for a suspected Israeli attack on its consulate in Syria on April 1. The threat of open warfare erupting between the arch Middle East foes and dragging in the United States has left the region on tenterhooks. The escalating tensions also sparked a flight to safety that sent gold rising 0.51% to $2,356.39 an ounce and the safe-haven dollar broadly higher, extending its 1.6% rise from last week.

#AsiaStocks #Gold #MiddleEastConflict #SafetyRush

https://www.brecorder.com/news/40298509 

 The blessed and the not-so-blessed economies
==========

The article discusses the transition in the world economy and the emergence of new players. It highlights the impact of wars and conflicts on economies and business sentiments, particularly in the Middle East. The article also examines the role of natural resources in economic development, using examples of countries like Singapore and Switzerland that have achieved sustainable growth despite limited resources. It mentions Saudi Arabia's efforts to diversify its economy away from oil dependence through Vision 2030. The article emphasizes the importance of knowledge and human resources in driving economic growth and innovation. Overall, it suggests that individual responsiveness and the ability to think outside the box are key to sustainable success in the changing global economy.

#WorldEconomy #EmergingEconomies #Wars #MiddleEast #OilDependence #Diversification #KnowledgeEconomy #HumanResources #SustainableSuccess

https://www.brecorder.com/news/40298477 

 If Trump wins, he plans to free Wall Street from ‘burdensome regulations’
==========

A second Trump White House would seek to sharply reduce the power of US financial regulators, according to a review of public documents and interviews with people allied with the former president. Donald Trump would likely renew his efforts to scale back financial reforms, pare protections for small-scale investors and borrowers, and allow companies to raise money with less scrutiny. Some of the ideas in Trump’s current policy orbit include curtailing the Dodd-Frank Act, making it easier for private companies to raise capital, attacking environmental, social and governance (ESG) investments and disclosures, and potentially cutting staff at regulators. The changes would reverse key aspects of current financial regulation and upend the US's entire system of financial regulation. It is unclear what ideas Trump will take up and what can become settled policy. The outcome will depend on the results of the November elections in the US Senate and House of Representatives.

#DonaldTrump #WallStreet #FinancialRegulation #DoddfrankAct #EsgInvestments

https://www.brecorder.com/news/40298273 

 ECB seen holding interest rates one last time
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The European Central Bank (ECB) is expected to maintain its key interest rate at a record high, with a first cut anticipated in June as inflation eases. The ECB has kept borrowing costs unchanged since October, but calls for cuts have increased as inflation has slowed. Eurozone inflation in March was 2.4%, close to the ECB's target of 2%. The majority of ECB governing council members are expected to vote for unchanged rates at this week's meeting, but a reduction before the summer break is likely. The ECB will assess wage growth and have updated forecasts on inflation and economic growth in June.

#Ecb #InterestRates #Inflation #Eurozone #EconomicGrowth

https://www.brecorder.com/news/40298134 

 China stocks fall on US rate concerns
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Chinese stocks fell on Monday as investors expressed concerns about US interest rates. The Shanghai Composite index closed down 0.72% at 3,047.05, while the blue-chip CSI 300 index was down 0.88%. The smaller Shenzhen index ended down 1.78% and the start-up board ChiNext Composite index was weaker by 1.813%. Broader Asian shares also started the week softer. Investors are awaiting economic data, including the US consumer price index (CPI) report and credit data, inflation readings, and trade figures from China.

#ChinaStocks #UsRateConcerns #ShanghaiCompositeIndex #Csi300Index #ShenzhenIndex #ChinextCompositeIndex #AsianShares #UsConsumerPriceIndex #CreditData #InflationReadings #TradeFigures

https://www.brecorder.com/news/40297815 

 Wall St gains as services sector data eases fears of hawkish Fed stance
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Wall Street's main indexes advanced on Wednesday after softer-than-expected services sector data offered relief to investors worried about the Federal Reserve taking a cautious approach to monetary easing due to resilience in the US economy. A survey from the Institute for Supply Management (ISM) showed US services industry growth slowed further in March, while a measure of input prices paid by businesses dropped to a four-year low, which bodes well for the inflation outlook. Fed Chair Jerome Powell reiterated that the US central bank has time to deliberate over its first interest rate cut, widely expected in June, given the strength of the economy and recent high inflation readings. Atlanta Fed President Raphael Bostic said the Fed should not cut its benchmark interest rate until the end of this year, as he maintained his view that the US central bank should reduce borrowing costs only once over the course of 2024.

#WallStreet #ServicesSector #FederalReserve #UsEconomy

https://www.brecorder.com/news/40297093 

 Pope Francis pleads for peace in Easter message
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Pope Francis urged the world to resist 'the logic of weapons' in his Easter message at the Vatican on Sunday. He condemned war as 'always an absurdity and a defeat', raising conflicts in Ukraine, Gaza, Sudan, Myanmar, and beyond. He called for a ceasefire in Gaza, greater aid deliveries to the devastated territory, and the release of hostages taken by Hamas. The pope proposed a 'general exchange of all prisoners between Russia and Ukraine' as the war between the two countries continues. He also urged world leaders to combat human trafficking. Easter Sunday marks the resurrection of Jesus Christ and is the culmination of Holy Week.

#PopeFrancis #Peace #Easter #War #Ukraine #Gaza #Sudan #Myanmar #Ceasefire #HumanTrafficking #HolyWeek

https://www.brecorder.com/news/40296526 

 Paradigm behind an ideal tax-to-GDP ratio
==========

The article discusses the importance of the tax-to-GDP ratio and its relevance in assessing a nation's economic resources. It highlights that Pakistan has a low tax-to-GDP ratio of under 10 percent and emphasizes the need to raise tax revenue and widen the tax net. The article compares the tax-to-GDP ratios of different countries, with developed nations typically having higher ratios due to increased demand for government services. It also mentions the lower tax-to-GDP ratio in the US, which may be attributed to infrastructure issues. The article emphasizes the need for expenditure priorities, political tax reforms, and targeted subsidies to address the economic challenges in Pakistan. It also mentions the World Bank's suggestion that tax revenues above 15 percent of GDP can contribute to growth and poverty reduction. The article concludes by highlighting the need for a comprehensive approach that includes expenditure reduction and implementing reforms in the tax, pension, and energy sectors.

#TaxtogdpRatio #Pakistan #Revenue #TaxPolicies #EconomicResources #DevelopedNations #UsInfrastructure #ExpenditurePriorities #TaxReforms #Subsidies #WorldBank

https://www.brecorder.com/news/40296546 

 US monthly inflation slows; consumer spending surges
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US prices increased less than expected in February, with the cost of services outside housing and energy slowing significantly. Consumer spending rose by the most in just over a year last month. The personal consumption expenditures (PCE) price index rose 0.3% last month. In the 12 months through February, PCE inflation advanced 2.5%. Fed officials anticipate three rate cuts this year, with the first rate reduction expected in June.

#UsInflation #ConsumerSpending #FederalReserve #InterestRate #Economy

https://www.brecorder.com/news/40296262 

 US Fed’s preferred inflation gauge ticks up as fuel costs rise
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The US central bank’s favored measure of inflation, the personal consumption expenditures (PCE) price index, rose at an annual rate of 2.5 percent in February, up 0.1 percentage points from the previous month. Goods prices rose 0.5 percent, while the costs of services increased by 0.3 percent. The increase in the cost of goods was largely driven by rising fuel prices, which rose 2.3 percent from January. The higher inflation figure may cause concern for President Joe Biden’s reelection campaign team as they seek to convince consumers that the economy is heading in the right direction. However, the Federal Reserve chair, Jerome Powell, stated that the data is in line with expectations and suggests that the bank is still on track towards its long-term inflation target of two percent. The closely watched “core inflation” measure, which excludes food and energy costs, eased slightly, rising by 2.8 percent on an annual basis and by 0.3 percent from January. The data has led some Fed officials to question the prediction of three interest rate cuts this year, with some suggesting a reduction in the number of rate cuts or a delay in their implementation. The Fed is expected to begin removing some policy tightness later this year. The personal income rose by 0.3 percent in February, while personal savings as a percentage of disposable income decreased from 4.1 percent to 3.6 percent. The US financial markets were closed for the Good Friday holiday.

#UsFederalReserve #Inflation #FuelPrices #EconomicData #InterestRates

https://www.brecorder.com/news/40296277 

 US CG calls on Deputy Speaker Punjab PA
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Deputy Speaker Malik Zaheer Iqbal Channar had a meeting with American Consul General Ms Kristin K Hawkins in the Assembly Chamber. They discussed promoting Pak-US relations, parliamentary affairs, and economic ties. Deputy Speaker Channar mentioned that Punjab and California could benefit from each other's experiences. He emphasized that Pakistan is actively participating in global efforts for peace and prosperity, with improving the economy and promoting education as top priorities. American Consul General Hawkins congratulated Deputy Speaker Channar on his election and expressed commitment to enhancing relations between America and Pakistan. Later, Deputy Speaker Channar hosted a reception for the American Consul General.

#UsConsulGeneral #DeputySpeaker #PunjabAssembly #PakusRelations #ParliamentaryAffairs #EconomicTies

https://www.brecorder.com/news/40296310 

 Tokyo shares close higher after Wall Street records
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Tokyo markets closed higher on Friday after the Dow and S&P 500 hit new highs on Wall Street. The benchmark Nikkei 225 index added 0.50 percent, or 201.37 points, to close at 40,369.44, while the broader Topix index rose 0.65 percent, or 17.81 points, to 2,768.62. Chip-linked stocks were higher with Advantest jumping 1.85 percent to 6,819 yen and Tokyo Electron rising 0.79 percent to 39,570 yen. The dollar traded at 151.40 yen, flat from the level seen in New York on Thursday. Investors were also waiting for the release of the Personal Consumption Expenditures Price Index in the United States later in the day.

#Tokyo #StockMarket #WallStreet #Nikkei225 #Topix #Advantest #TokyoElectron #UsEconomicData

https://www.brecorder.com/news/40296367 

 How the US stock market rocketed through the Q1?
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The US stock market has had a strong start in 2024, with the S&P 500 climbing over 10% in the first quarter, its biggest gain since 2019. The Nasdaq Composite also reached a record high in late February. Investors are optimistic about the economy, with two-thirds of fund managers predicting a 'soft landing' and only 11% projecting a 'hard landing'. The dovish Federal Reserve meeting and rising confidence in artificial intelligence have contributed to the market's success. While tech and growth stocks performed well in 2023, this year has seen a broader rally with sectors like tech, communication services, energy, financials, and industrials outperforming the S&P 500. Some megacap companies, like Nvidia and Meta Platforms, have seen significant gains, while others, like Apple and Tesla, have faced challenges. Overall, the stock market's positive performance has led to higher valuations and increased risk appetite.

#UsStockMarket #S&p500 #NasdaqComposite #Economy #InterestRateCuts #ArtificialIntelligence #Investors #FederalReserve #TechStocks #MegacapCompanies

https://www.brecorder.com/news/40296371 

 Brazil’s public debt up 2.25pc in February
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Brazil’s federal public debt increased 2.25% in February to 6.595 trillion reais ($1.32 trillion). The month was marked by a sharp rise in global interest rates, driven by persistent inflationary pressures and the strength of the US economy. The average interest rate on domestic federal debt issuances decreased from 11.56% in January to 11.51% in February. The country’s domestic debt accounts for 95.8% of the total. The Treasury’s liquidity reserve rose to 885.10 billion reais from 813.24 billion reais the month before.

#Brazil #PublicDebt #Treasury #InterestRates #Inflation #Economy

https://www.brecorder.com/news/40296363 

 HK stocks fall, China up after cenbank leaves key rate unchanged
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Hong Kong shares declined while China stocks edged up on Friday after China’s central bank left a key policy rate unchanged. Hong Kong’s benchmark Hang Seng closed down 1.4%, and the Hang Seng China Enterprises Index lost 1.5%. China’s Shanghai Composite Index edged up 0.2%, while the blue-chip CSI 300 Index gained 0.5%. China’s central bank left the one-year medium-term lending facility rate unchanged while withdrawing cash from a medium-term policy loan operation. China’s new home prices dropped for an eighth straight month in February, official data showed. The CSI 300 Real Estate Index lost 0.9%, and the Hang Seng Mainland Properties Index slumped 1.9. Tech giants listed in Hong Kong also lost 1.5%.

#HongKong #China #Stocks #CentralBank #InterestRates #HomePrices #RealEstate #TechGiants

https://www.brecorder.com/news/40293867 

 Economic policy over next several months crucial for Pakistan: US Ambassador
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US Ambassador to Pakistan Donald Blome emphasizes the importance of economic policy in the next several months for Pakistan. He states that Pakistan has made progress in confronting challenges but remains vulnerable to shocks. Blome encourages the new government to work with the International Monetary Fund (IMF) on reforms that make sense for Pakistan and help break the cycle of indebtedness. He believes that economic reforms will build certainty and confidence among investors and enable economic growth fueled by sustainable foreign direct investment (FDI). Blome also highlights the potential for increased trade and investment between the US and Pakistan, but notes that US firms are wary of volatility and inconsistency in policy. He urges Pakistan to prioritize an aggressive approach to attracting FDI and take advantage of the dynamic moment in global investment and trading patterns. Blome expresses confidence in Pakistan's ability to break free from an over-reliance on unsustainable debt.

#Pakistan #UsAmbassador #EconomicPolicy #Reforms #Imf #Investors #ForeignDirectInvestment #Trade #Investment #Debt

https://www.brecorder.com/news/40291985 

 Asia stocks nudge higher, dollar steady ahead of US inflation report
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Asian stocks inched higher and the dollar held steady on Tuesday ahead of a key U.S. inflation report that could help shape the Federal Reserve’s rates outlook and determine the timing of interest rate cuts. Bitcoin crossed $50,000 for the first time in over two years. MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.15% higher. Japan’s Nikkei rose 1.7% to hit a fresh 34-year high. China’s financial markets are closed for the Lunar New Year holiday. On Monday, the Nasdaq slipped in the afternoon session after briefly surpassing its record closing high from November 2021. The benchmark S&P 500 closed lower but remained just above the 5,000-point level it crossed on Friday. E-mini futures for the S&P 500 fell 0.16%. Investor attention this week will be on crucial reports on January’s U.S. Consumer Price Index (CPI) and Producer Price Index. Economists expect CPI to rise 2.9% on a year-on-year basis. Traders are pricing in a 13% chance of an easing in March. The yield on 10-year Treasury notes was at 4.172%. The dollar index was little changed at 104.16. The Japanese yen was last at 149.38 per dollar. U.S. crude rose 0.03% to $76.94 per barrel and Brent was at $81.99, down 0.01% on the day.

#AsiaStocks #UsInflationReport #FederalReserve #InterestRateCuts #Bitcoin #Msci #Nikkei #LunarNewYear #Nasdaq #S&p500 #ConsumerPriceIndex #ProducerPriceIndex #TreasuryNotes #DollarIndex #JapaneseYen #CrudeOil

https://www.brecorder.com/news/40288602 

 Economic turmoil could worsen
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Moody’s Investor Services warns that timely announcement of election results is crucial for Pakistan facing economic challenges. The stock market and dollar-denominated government bonds have plunged. Concerns have been raised by the US, UK, Australia, and the EU about irregularities in the electoral process. Pakistan's major export market is the US, and a significant portion of remittances comes from Western countries. The reliance on commercial loans and debt equity is on the West. The ongoing political uncertainty may be tackled by getting independents to abandon ship or seeking a rapprochement with them. The country's rating agencies have not upgraded Pakistan, and domestic borrowing has reached unprecedented levels. Inflation and unemployment continue to erode the quality of life. The fragile state of the economy cannot withstand any turmoil.

#Pakistan #EconomicTurmoil #ElectionResults #StockMarket #GovernmentBonds #Irregularities #ExportMarket #Remittances #RatingAgencies #Inflation #Unemployment

https://www.brecorder.com/news/40288508 

 Asian markets mixed after Wall St record, Shanghai extends rally
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Asian markets were mixed following another record on Wall Street, with strong earnings and a resilient US economy playing against fading hopes for an early Federal Reserve interest rate cut. Fresh comments from US monetary policymakers pushing back against reducing borrowing costs too early were unable to overshadow a string of forecast-beating reports from top firms this season including Amazon and Facebook parent Meta. Shanghai extended its rally heading into the Lunar New Year break, building on almost five percent gains over the previous two days as investors cheered a number of pledges from Beijing to staunch a long-running rout. Hong Kong was dealt a blow lower by a more than six percent dive in market heavyweight Alibaba, which was hit by a worse-than-expected earnings report that overshadowed a huge stock buyback. Tokyo, Sydney, Seoul, and Manila saw gains, while Singapore, Mumbai, Bangkok, and Wellington dropped.

#AsianMarkets #WallStreet #FederalReserve #Shanghai #LunarNewYear

https://www.brecorder.com/news/40287925 

 Dollar slips as market awaits data
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The dollar slid further on Wednesday as it consolidates a bounce in recent days from surprisingly strong US economic data and pushback from Federal Reserve officials on market expectations of imminent interest rate cuts. The dollar eased from a nearly three-month high against the euro on Tuesday even as market bets on a rate cut by the Fed in March rebounded. Treasury yields, often a factor in the dollar’s strength when they draw foreign investment, also were lower. Analysts pointed to technical factors for the dollar’s pullback, following a two-day rally of as much as 1.4% against the euro after unexpectedly strong US jobs data, as well as more hawkish rhetoric from Federal Reserve Chair Jerome Powell, pummeled bets for a rate cut as soon as March.

#Dollar #UsEconomy #FederalReserve #InterestRateCuts

https://www.brecorder.com/news/40287856 

 Dollar slips as market awaits data
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The dollar slid further on Wednesday as it consolidates a bounce in recent days from surprisingly strong US economic data and pushback from Federal Reserve officials on market expectations of imminent interest rate cuts. The dollar eased from a nearly three-month high against the euro on Tuesday even as market bets on a rate cut by the Fed in March rebounded. Treasury yields, often a factor in the dollar’s strength when they draw foreign investment, also were lower. Analysts pointed to technical factors for the dollar’s pullback, following a two-day rally of as much as 1.4% against the euro after unexpectedly strong US jobs data, as well as more hawkish rhetoric from Federal Reserve Chair Jerome Powell, pummeled bets for a rate cut as soon as March.

#Dollar #UsEconomy #FederalReserve #InterestRateCuts

https://www.brecorder.com/news/40287856 

 UK shares climb on airlines, US tech bounce
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UK shares rose on Friday, with the FTSE 100 climbing 0.4% and the FTSE 250 adding 1.0%. The gains were driven by positive sentiment on Wall Street following upbeat earnings from technology giants Meta Platforms and Amazon.com. Wizz Air, a UK airline, reported a 14.2% increase in passenger traffic in January, leading to a 9.4% rally in its shares. Other airline stocks, such as EasyJet and British Airways-owner IAG, also saw gains. Traders are now awaiting monthly U.S. payroll data for clues on the rate trajectory after the Federal Reserve shot down market expectations of early interest rate cuts. The Bank of England's decision on interest rates also influenced UK equities during the week. Sainsbury and Tesco, two UK grocers, gained 2.8% and 2.1% respectively after being upgraded by Morgan Stanley. BP, an oil and gas company, slipped 2.0% after shutting down its Whiting, Indiana refinery due to a power outage.

#UkShares #Ftse100 #Ftse250 #WizzAir #Easyjet #Iag #MetaPlatforms #Amazon.com #FederalReserve #BankOfEngland #Sainsbury #Tesco #Bp

https://www.brecorder.com/news/40287040