5 Hours Ago
India’s equity fund inflows hit 23-month highs in February, Goldman Sachs says
India flag, stock market, exchange economy and Trade, oil production, container ship in export and import business and logistics.
Texbr | Istock | Getty Images
Goldman Sachs said monthly inflows into India’s domestic equity funds rose to a 23-month high of $3.2 billion in February, based off data from the Association of Mutual Funds in India.
Inflows into equity funds through systematic investment plans or SIPs remained strong, GS said as it hit fresh highs of $2.3 billion.
India also saw foreign inflows of $2.2 billion in the week ending March 15, according to GS.
The country’s Nifty 50 index dipped 0.3% on Monday after falling over 2% last week.
— Shreyashi Sanyal
7 Hours Ago
China retail, industrial numbers top expectations
China reported stronger-than-expected numbers for retail and fixed asset investment for the first two months of 2024.
Retail sales rose 5.5% and industrial production was up 7%, both beating analysts’ expectations. The unemployment rate for cities was 5.3% in February.
Investment into real estate dropped 9% year on year in January and February, while manufacturing rose 9.4% during that time.
China’s data for January and February is typically combined to smooth out variations from the Lunar New Year, the country’s biggest national holiday, during which businesses remain shut for at least one week.
— Evelyn Cheng
8 Hours Ago
Nikkei 225 leads gains in Asia, powered by manufacturing stocks
Japan’s Nikkei 225 rose more than 2% on Monday, crossing the 39,000 mark for the first time in 10 days as manufacturing and health-care stocks powered the rally.
However, the largest gainer on the index was financial technology company Rakuten Group, which surged 7.38%.
Other names on the top gainers list include automaker Nissan which climbed over 6.5% , as well as pharmaceutical firm Chugai Pharmaceutical, which was up 4%.
The yen weakened by 0.18% on the back of the index’s rally, trading at 149.29 against the greenback.
11 Hours Ago
Expect less transparency from Fed Chair Jerome Powell this week, economist says
Federal Reserve Chair could offer less clarity during the central bank’s policy meeting beginning on Tuesday, according to EY chief economist Gregory Daco.
“We look for Fed Chair Powell to be less transparent than he was in January regarding the May and June meetings being ‘live’ for potential rate cuts,” Daco said in a Friday note. “However, we do anticipate he will stress that Fed policymakers have started discussing policy easing as well as the timing and logistics of tapering the balance sheet quantitative tightening process.”
— Brian Evans
12 Hours Ago
Stock futures are little changed
Stock futures were little changed on Sunday, as Wall Street waits for insight on interest rate cuts ahead of the Federal Reserve’s policy meeting this week.
Dow Jones Industrial Average futures slipped 20 points, or 0.05%, while Nasdaq-100 futures ticked up 0.1%. Futures tied to the S&P 500 hovered near the flatline
— Brian Evans
