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- A + A (Dec 1): Equities in Asia extended gains after their best monthly rally in 24 years, as concerns eased over China's Covid-19 measures and the US Federal Reserve's (Fed) tightening. After capping a 15% gain November, the MSCI Asia Pacific Index jumped as much as 2.5% on Thursday, inching closer toward a bull market. Gauges in China, Japan, and Taiwan led gains — although Hong Kong's measures pared — as a top Chinese official said efforts to combat the virus are entering a new phase with the Omicron variant weakening and vaccination rates rising. Investors may look past China's near-term economic slump "as long as there are positive signs of China's reopening", David Chao, global market strategist for Asia Pacific ex-Japan at Invesco, wrote in a note. Traders will watch whether China's central bank will ease further in December, he added. Regional equities also got a boost from a weaker dollar, after Fed chair Jerome Powell said that the pace of rate … [Read more...] about Asian stocks extend best rally in 24 years on China, Fed boosts

Jerome Powell - A + A (Dec 1): A rally in US stocks and bonds powered ahead after a speech by Federal Reserve chairman Jerome Powell on Wednesday, but some investors believe a looming recession could cap gains in both asset classes. Though asset prices have been battered by the Fed’s rate rises this year, momentum has been on the side of the bulls in recent weeks. The S&P 500 has soared nearly 14% from its October low while yields on the 10-year benchmark Treasury, which move inversely to prices, are down at around 3.6%, from a 15-year high of 4.3% earlier this year. The immediate reaction to Powell’s speech on Wednesday showcased investors’ recently optimistic mood. The S&P 500 soared more than 3% after Powell said the Fed could scale back the pace of its rate increases as soon as December, although he warned there was little clarity on how high rates will ultimately need to rise as the central bank fights the worst outbreak of inflation in decades. … [Read more...] about Markets sigh with relief after Powell speech, but more turbulence likely ahead

Bikaji Foods International | CMP: Rs 320.90 | The share price ended in the green on November 17. Goldman Sachs Funds - Goldman Sachs India Equity Portfolio acquired 17.45 lakh shares in Bikaji Foods International at an average price of Rs 324.5 per share. Bikaji Foods International made an impressive debut on the bourses on November 16 with the shares closing 5.8 percent higher at Rs 317.45 but lower from the day’s high. Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × The share price of ethnic snacks food company Bikaji Foods has been on a roll since its listing. The stock has gained over 33 percent after its market debut on November 16, rising from its listing price of Rs 322.80 to Rs 436. While the stock was trading flat on November 30 morning, it was up 10 percent for two straight sessions in the week gone by. At 11.08 am, the … [Read more...] about Newly-listed Bikaji Foods up 33% since debut, what should investors do?

Share to Twitter Share to Linkedin Topline Former FTX CEO Sam Bankman-Fried claimed in a live New York Times interview Wednesday the collapse of his cryptocurrency exchange was driven by numerous mistakes on his part rather than fraudulent activity, as FTX faces allegations it wrongly used billions of dollars in customer funds in a failed attempt to prop up its sister trading firm Alameda Research. Key Facts Bankman-Fried acknowledged “clearly I didn't do a good job” as head of FTX, saying there were immense accounting mistakes he should have caught, but he insisted he “didn’t ever try to commit fraud” and was “shocked” by the exchange’s collapse earlier this month. He also pushed back on concerns that FTX’s ties to Alameda Research were inappropriate, insisting he “wasn't running Alameda” and “didn't know exactly what was going on,” even though Bankman-Fried co-founded Alameda, had extensive ties to its leaders and said he worked as a consultant … [Read more...] about ‘I Didn’t Ever Try To Commit Fraud’: Sam Bankman-Fried Responds To FTX Collapse In New Interview