Jittery investors deepen stock fall

A screen in Hana Bank's trading room in central Seoul shows the Kospi closing at 2,322.64 points on Wednesday, down 45.35 points, or 1.91 percent, from the previous trading day. [YONHAP] Stocks plunged by almost 2 percent Thursday to slump for a second straight session amid recession woes and a dim outlook for the chipmaking sector. The won rose against the dollar. The Kospi retreated 45.35 points, or 1.91 percent, to close at 2,332.64 points. Trading volume was moderate at about 506 million shares worth some 8.7 trillion won ($6.7 billion), with losers outnumbering gainers 699 to 183. Institutional investors offloaded a net 321 billion won, and foreigners sold 234 billion won, while retail investors bought 521 billion won. Investors remained cautious after a near 2 percent fall on Wednesday, spooked by soaring inflation and weak economic sentiment data in the United States. Overnight, the central bank chiefs of major economies warned that the world's high inflation … [Read more...] about Stocks fall almost 2% for second straight session

Commodity stocks including metals, miners and energy names have seen profit booking in the recent months even as supply problems are far from over while prices of commodities have been choppy. Nifty Commodities index, comprising names like Reliance Industries, ONGC, UltraTech cements, Vedanta and 26 others, has fallen about 23 per cent from 52-week highs hit in April –  at the height of Russia-Western World tensions. Commodity stocks – especially from metal and energy sectors – were among the biggest gainers in the recent boom in prices led by burgeoning demand after the pandemic. However, as the demand is plateauing, prices have also decreased for many commodities. Does that mean the super cycle in these names are over and investors should taper their expectations from now on, thus exiting the space? Not really, said analysts, who believe there could be another round of buying as the situation remains precarious. “Commodity stocks have already fallen from their recent … [Read more...] about As stocks trade off highs, is the rally in commodities over?

- A + A LONDON (June 30): Stocks sank on Thursday to extend what is the worst first half of a year for global share prices on record, as investors fret that the latest show of central bank determination to tame inflation will slow economies rapidly. Central bank chiefs from the US Federal Reserve, the European Central Bank and the Bank of England met in Portugal this week and voiced their renewed commitment to control inflation no matter what pain it caused. While there was little new in the messaging, it was another warning that the era of cheap cash which had turbocharged share prices for years is coming to an end. Traders are now focused on data on US core prices due at 1230 GMT that are expected to underline the extent of the inflation challenge. Read full story The MSCI World Equity Index was last down 0.67%, with its year-to-date losses down more than 20% — the worst fall since the index's creation. The falls have wiped US$13 trillion off stock values. On … [Read more...] about Stocks sink on fears for global economy, capping worst 1H on record

- A + A BEIJING (June 30): It’s official: Chinese equities are once again in vogue, after months of regulatory crackdowns, deleveraging and stringent virus curbs wiped trillions of dollars off benchmark gauges. A Bloomberg survey of 19 fund managers and analysts predicts that benchmark stock indexes in China and Hong Kong will post gains of at least 4% by year-end to outperform their global peers. About 70% of those polled plan to maintain or boost holdings of shares in the mainland and the financial hub in the next three months. The optimism marks a stunning reversal from March when investors raced to trim exposure to Chinese assets on fears that the nation’s Covid lockdowns and the war in Ukraine would damp economic growth. A recent easing of virus restrictions has propelled the CSI 300 Index to the brink of a bull market, and a loose policy stance has helped local equities defy the recent selloff in global stocks. “Covid restrictions will gradually ease and … [Read more...] about China’s world-beating stock rally is forecast to strengthen more

- A + A (July 1): A co-founder of SenseTime Group Inc. lost almost half of his fortune after shares of the artificial intelligence giant plummeted 47% on Thursday. Tang Xiao’ou, a Massachusetts Institute of Technology graduate and information engineering professor at the Chinese University of Hong Kong, has a 21% stake in the company. His net worth plunged by about US$2.4 billion to US$2.8 billion, based on the closing share price, dropping him off a list of the world’s 500 richest people, according to the Bloomberg Billionaires Index. The fall of SenseTime occurred after the lock-up period on a portion of shares held by cornerstone investors and stakeholders expired a day earlier. Some executives, including Chief Executive Officer Xu Li, pledged to extend the lock-up of their shares until Dec. 29. The tech company completed a Hong Kong listing in December despite US sanctions, and surged as much as 23% on debut. Thursday’s slump dragged the stock below the initial … [Read more...] about SenseTime co-founder loses almost half his fortune after the AI giant’s stock slumps

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × The market remained volatile and managed to gain strength in the last hour of trade on June 28. The benchmark indices ended largely flat as the Nifty50 rose 18 points to 15,850, and the BSE Sensex climbed 16 points to 53,177, backed by positive global cues. The volatility continued to be on the higher side, may be ahead of monthly expiry on coming Thursday, which experts feel needs to fall and sustain below 20 mark for stability in the market going ahead. India VIX, which measures the expected volatility in the market, rose by 2.1 percent to 21.45 levels. The trend was mixed in broader markets with the Nifty Midcap 100 index rising third of a percent and Smallcap 100 index falling third of a percent. Auto, metal, IT, select FMCG stocks and Reliance Industries helped the market close … [Read more...] about Trade Spotlight | What should you do with Force Motors, MRPL, Supriya Lifescience on Wednesday?

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × The market closed its rangebound session on a negative note on June 29 ahead of monthly expiry of June futures and options contracts, dragged by banking and financial services, FMCG, and IT stocks. The BSE Sensex fell 150 points to 53,027, and the Nifty50 declined more than 50 points to 15,799, while the broader space also closed in the red with the Nifty Midcap 100 and Smallcap 100 indices down 0.4 and 0.6 percent respectively. Higher volatility continued to discomfort bulls, which needs to fall below 20 levels for stability in the market. India VIX, which measures expected volatility in the market, rose 2.09 percent to 21.9 levels. Stocks that were in action and outperformed the broader space included Orient Bell which surged 14 percent to Rs 661, almost hitting the highest closing level … [Read more...] about Trade Spotlight | What should you do with Orient Bell, Adani Transmission, Tejas Networks on Thursday?

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × The market failed to extend its positive momentum seen in previous session as weak global sentiment and selling pressure in every sector pulled benchmark indices down on June 22. The BSE Sensex fell more than 700 points to 51,823 and the Nifty50 plunged more than 200 points to 15,413 and formed a bearish candlestick pattern on daily charts. The Stochastic has given a negative crossover, clearly indicating that sentiments are weak at the moment, while the India VIX, which gauges the expected volatility in the market, remained above 20 levels, suggesting continuity in volatile swings in the market and the trend could remain in favour of bears. The VIX rose by 0.74 percent to 21.30 levels. Broader markets also reeled under pressure after a sharp rebound in the previous session. The Nifty … [Read more...] about Trade Spotlight | What should you do with Matrimony, Sterling Tools, IOL Chemicals, ITI, Trident on Thursday?

This article first appeared in The Edge Malaysia Weekly, on June 20, 2022 - June 26, 2022. - A + A ALL eyes are on RHB Banking Group’s newly minted group managing director (MD) and group CEO Mohd Rashid Mohamad as he steers the fourth-largest banking group by assets forward in a tough operating landscape. “It’s very challenging, especially now in a fast-changing market environment, and as we face potential risks such as geopolitical and inflationary,” acknowledges Rashid in his first exclusive interview as group MD/CEO. Competition has intensified, given new entrants into the market, which are not just new banks but also technology companies that compete for the same pie. Rashid adds that this has partly affected the profitability of the industry, along with many other factors. He notes that banks globally no longer see “high ROEs” as before. For RHB Bank Bhd, its return on equity (ROE) in the past 10 financial years hit a high of 13.4% in FY2012 before … [Read more...] about Cover Story: RHB’s Game Plan in ‘fast-changing’ new normal

Gold, Gold prices, precious metals Multi Commodity Exchange (MCX) of India in particular and the market as whole will be among the biggest beneficiaries of the regulator greenlighting trade by foreign portfolio investors (FPIs) in commodity derivatives, analysts said. Securities and Exchange Board of India (Sebi) on Wednesday gave FPIs approval to trade in all non-agricultural commodity derivatives and select non-agricultural benchmark indices. To begin with, FPIs will be allowed only in cash-settled contracts. Earlier only those foreign investors which had actual exposure to Indian physical commodities were allowed to trade in commodity derivatives in order to hedge their price risks. The system has been done away with now. “The Sebi announcement is a small step towards a big journey to integrate and develop the Indian commodities market on a global stage. The higher participation will boost market liquidity and volumes with better price discovery,” said Tapan Patel, … [Read more...] about Liquidity seen sloshing towards commodity derivatives as FPIs given greenlight to flood in