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Benchmark equity indices witnessed heavy selloff Friday after investors booked profits in realty, banking, IT and auto bluechips amid weak signals from global markets.

The BSE Sensex plunged 689.60 points, or 1.89 per cent, to 35,742.07, while the NSE Nifty slipped 197.70 points, or 1.81 per cent, to 10,754&nbsp;as the possibility of a US&nbsp;government shutdown and further rate hikes by the Federal Reserve next year made investors jittery.

The 30-share index ended the week 527.93 points lower, while the broader Nifty lost 134 points.

The equity market witnessed selling ahead of the weekend, mainly due to fears of lower global economic growth in the coming year, said Joseph Thomas, Head Research- Emkay Wealth Management.

Concerns over the rupee also loomed over IT and tech stocks, analysts said.

Benchmark indices <a href="http://www.wionews.com/business-economy/sensex-falls-100-points-in-early-hours-amid-us-government-shutdown-tension-185589">opened on a choppy note Friday on negative global cues </a>amid fears of a potential US government shutdown and rising tension between the US and China.

After falling over 100 points in the opening session, the 30-share Sensex was trading 14.82 points or 0.04 per cent, higher at 36,416.85. The index had finished 52.66 points, or 0.14 per cent, lower at 36,431.67 Thursday.

The NSE Nifty, too, was trading 2.25 points, or 0.02 per cent, lower at 10,949.45.

Domestic and other Asian stocks followed Wall Street that fell sharply after US President Donald Trump's demand for border wall funds pushed the federal government closer to a shutdown.

The White House said Trump will not travel to Florida Friday for the Christmas holiday if the government is shutting down. More than 8,00,000 federal workers will be facing furloughs or forced to work without pay if a resolution is not reached before funding expires at midnight Friday.

Meanwhile, China accused the US of fabricating facts after the US Justice Department indicted two hackers tied to Chinese security services who allegedly targeted companies and agencies in a dozen countries, adding fuel to the rift between the two countries, experts said.

Benchmark equity indices witnessed heavy selloff Friday after investors booked profits in realty, banking, IT and auto bluechips amid weak signals from global markets.

Benchmark equity indices witnessed heavy selloff Friday after investors booked profits in realty, banking, IT and auto bluechips amid weak signals from global markets. The BSE Sensex plunged 689.60 points, or 1.89 per cent, to 35,742.07, while the NSE Nifty slipped 197.70 points, or 1.81 per cent, to 10,754 as the possibility of a US government shutdown and further rate hikes by the Federal Reserve next year made investors jittery. The 30-share index ended the week 527.93 points lower, while the broader Nifty lost 134 points. The equity market witnessed selling ahead of the weekend, mainly due to fears of lower global economic growth in the coming year, said Joseph Thomas, Head Research- Emkay Wealth Management. Concerns over the rupee also loomed over IT and tech stocks, analysts said. Benchmark indices opened on a choppy note Friday on negative global cues amid fears of a potential US government shutdown and rising tension between the US and China. After falling over 100 points in the opening session, the 30-share Sensex was trading 14.82 points or 0.04 per cent, higher at 36,416.85. The index had finished 52.66 points, or 0.14 per cent, lower at 36,431.67 Thursday. The NSE Nifty, too, was trading 2.25 points, or 0.02 per cent, lower at 10,949.45. Domestic and other Asian stocks followed Wall Street that fell sharply after US President Donald Trump's demand for border wall funds pushed the federal government closer to a shutdown. The White House said Trump will not travel to Florida Friday for the Christmas holiday if the government is shutting down. More than 8,00,000 federal workers will be facing furloughs or forced to work without pay if a resolution is not reached before funding expires at midnight Friday. Meanwhile, China accused the US of fabricating facts after the US Justice Department indicted two hackers tied to Chinese security services who allegedly targeted companies and agencies in a dozen countries, adding fuel to the rift between the two countries, experts said.

Sensex plunges nearly 700 points amid fears of US government shutdown

The rupee weakened on Thursday tracking Asian peers after the <a href="http://www.wionews.com/business-economy/us-federal-reserve-hikes-interest-rates-wall-street-stocks-tumble-185385">US Federal Reserve's&nbsp;statement hiking interest rates</a> fourth time this year.

The rupee was at 70.57 to the dollar in early trade after opening at 70.68 and weaker than Wednesday's close of 70.39.&nbsp;

On Wednesday, the rupee had settled 5 paise higher at 70.39 against the US dollar.

Foreign funds bought shares worth Rs 1,209.21 crore from the capital markets on net basis on Wednesday, while domestic institutional investors sold shares worth Rs 481.46 crore, provisional data showed.

After weeks of market volatility and calls by President Donald Trump for the Federal Reserve to stop raising interest rates, the US central bank instead did it again, and stuck by a plan to keep withdrawing support from an economy it views as strong.

US stocks and bond yields fell hard. With the Fed signalling "some further gradual" rate hikes and no break from cutting its massive bond portfolio, traders fretted that policymakers could choke off economic growth.

Wall Street stocks fell sharply after the Federal Reserve lifted interest rates. The Dow, which had been up nearly 300 points prior to the decision, finished down 350 points, or 1.5 per cent, at 23,323.66. It meant the blue-chip index was at its lowest level of 2018.

The global benchmark, Brent crude oil was trading at $56.49 per barrel, lower by 1.31 per cent.

Meanwhile, the domestic equity market opened on a weaker note. The 30-share<a href="http://www.wionews.com/business-economy/sensex-opens-in-red-after-us-federal-rate-hike-185410"> BSE benchmark Sensex was trading at 36,305.11, down 179.22 points </a>in early trade. The wide-based Nifty was also trading lower by 51.95 points at 10,915.35. 
&nbsp;

The rupee weakened on Thursday tracking Asian peers after the US Federal Reserve's statement hiking interest rates fourth time this year. The rupee was at 70.57 to the dollar in early trade after opening at 70.

The rupee weakened on Thursday tracking Asian peers after the US Federal Reserve's statement hiking interest rates fourth time this year. The rupee was at 70.57 to the dollar in early trade after opening at 70.68 and weaker than Wednesday's close of 70.39. On Wednesday, the rupee had settled 5 paise higher at 70.39 against the US dollar. Foreign funds bought shares worth Rs 1,209.21 crore from the capital markets on net basis on Wednesday, while domestic institutional investors sold shares worth Rs 481.46 crore, provisional data showed. After weeks of market volatility and calls by President Donald Trump for the Federal Reserve to stop raising interest rates, the US central bank instead did it again, and stuck by a plan to keep withdrawing support from an economy it views as strong. US stocks and bond yields fell hard. With the Fed signalling "some further gradual" rate hikes and no break from cutting its massive bond portfolio, traders fretted that policymakers could choke off economic growth. Wall Street stocks fell sharply after the Federal Reserve lifted interest rates. The Dow, which had been up nearly 300 points prior to the decision, finished down 350 points, or 1.5 per cent, at 23,323.66. It meant the blue-chip index was at its lowest level of 2018. The global benchmark, Brent crude oil was trading at $56.49 per barrel, lower by 1.31 per cent. Meanwhile, the domestic equity market opened on a weaker note. The 30-share BSE benchmark Sensex was trading at 36,305.11, down 179.22 points in early trade. The wide-based Nifty was also trading lower by 51.95 points at 10,915.35.

Rupee slips against dollar after US Federal rate hike

Benchmark indices fell sharply in early trade Thursday on weak global cues after the <a href="http://www.wionews.com/business-economy/us-federal-reserve-hikes-interest-rates-wall-street-stocks-tumble-185385">US Federal Reserve</a> raised its key interest rate for the fourth time this year, and signalled more, but slower pace of rate hikes next year.

After opening over 250 points down, the 30-share Sensex was trading 166.63 points, or 0.46 per cent, lower at 36,317.70. The index had ended 137.25 points, or 0.38 per cent, at 36,484.33 Wednesday.

The NSE Nifty, too, was trading 56.70 points, or 0.52 per cent, lower at 10,910.60.

Domestic stocks followed the US and other Asian stocks that fell sharply after US Fed lifted the benchmark rate. Wednesday's quarter-point increase, to 2.25-2.5 per cent, lifted the Fed's key rate to its highest point since 2008.

The Fed's move came despite US President Donald Trump's attacks in recent weeks on its rate hikes and on Chairman Jerome Powell personally. The president had complained that the moves are threatening the economy.

At a news conference after the Fed's announcement, Powell said Trump's tweets and statements would have no bearing on the central bank's policymaking.

Metal index was the biggest loser on both exchanges, followed by banking and auto indices.

Top losers include Vedanta, NTPC, Bharti Airtel, HDFC, Wipro, PowerGrid, Infosys, Maruti, Adani Ports and Kotak Bank, falling up to 2 per cent.

While, gainers include Asian Paints, Yes Bank, M&amp;M, Sun Pharma and Axis Bank, rising up to 2 per cent.

On a net basis, foreign portfolio investors (FPIs) bought shares worth Rs 1,209.21 crore Wednesday, and domestic institutional investors (DIIs) were net sellers to the tune of Rs 481.46 crore, provisional data available with BSE showed.

The rupee, meanwhile, weakened against the US dollar, and was trading at 70.54 a dollar.

Global oil prices eased further. Brent crude, the international benchmark, was trading 1.42 per cent lower at USD 56.43 per barrel.

Elsewhere in Asia, Hong Kong's Hang Seng was down 1.11 per cent, Japan's Nikkei fell 2.23 per cent and Shanghai Composite Index edged lower by 0.82 per cent in early trade.

The US Dow Jones Industrial Average ended 351.98 points, or 1.49 0.35 per cent, lower at 23,323.66 Wednesday.

Benchmark indices fell sharply in early trade Thursday on weak global cues after the US Federal Reserve raised its key interest rate for the fourth time this year, and signalled more, but slower pace of rate hikes next year.

Benchmark indices fell sharply in early trade Thursday on weak global cues after the US Federal Reserve raised its key interest rate for the fourth time this year, and signalled more, but slower pace of rate hikes next year. After opening over 250 points down, the 30-share Sensex was trading 166.63 points, or 0.46 per cent, lower at 36,317.70. The index had ended 137.25 points, or 0.38 per cent, at 36,484.33 Wednesday. The NSE Nifty, too, was trading 56.70 points, or 0.52 per cent, lower at 10,910.60. Domestic stocks followed the US and other Asian stocks that fell sharply after US Fed lifted the benchmark rate. Wednesday's quarter-point increase, to 2.25-2.5 per cent, lifted the Fed's key rate to its highest point since 2008. The Fed's move came despite US President Donald Trump's attacks in recent weeks on its rate hikes and on Chairman Jerome Powell personally. The president had complained that the moves are threatening the economy. At a news conference after the Fed's announcement, Powell said Trump's tweets and statements would have no bearing on the central bank's policymaking. Metal index was the biggest loser on both exchanges, followed by banking and auto indices. Top losers include Vedanta, NTPC, Bharti Airtel, HDFC, Wipro, PowerGrid, Infosys, Maruti, Adani Ports and Kotak Bank, falling up to 2 per cent. While, gainers include Asian Paints, Yes Bank, M&M, Sun Pharma and Axis Bank, rising up to 2 per cent. On a net basis, foreign portfolio investors (FPIs) bought shares worth Rs 1,209.21 crore Wednesday, and domestic institutional investors (DIIs) were net sellers to the tune of Rs 481.46 crore, provisional data available with BSE showed. The rupee, meanwhile, weakened against the US dollar, and was trading at 70.54 a dollar. Global oil prices eased further. Brent crude, the international benchmark, was trading 1.42 per cent lower at USD 56.43 per barrel. Elsewhere in Asia, Hong Kong's Hang Seng was down 1.11 per cent, Japan's Nikkei fell 2.23 per cent and Shanghai Composite Index edged lower by 0.82 per cent in early trade. The US Dow Jones Industrial Average ended 351.98 points, or 1.49 0.35 per cent, lower at 23,323.66 Wednesday.

Sensex opens in red after US Federal rate hike

After weeks of market volatility and calls <a href="http://www.wionews.com/world/global-markets-stocks-dip-ahead-of-federal-news-oil-prices-drop-185217">by President Donald Trump </a>for the Federal Reserve to stop raising interest rates, the US&nbsp;central bank instead did it again, and stuck by a plan to keep withdrawing support from an economy it views as strong.

US stocks and bond yields fell hard. With the Fed signalling "some further gradual" rate hikes and no break from cutting its massive bond portfolio, traders fretted that policymakers could choke off economic growth.

"Maybe they have already committed their policy error," said Fritz Folts, chief investment strategist at 3Edge Asset Management. "We would be in the camp that they have already raised rates too much."

Interest rate futures show traders are currently betting the Fed won't raise rates at all next year.

Wednesday's rate increase, the fourth of the year, pushed the central bank's key overnight lending rate to a range of 2.25 per cent to 2.50 per cent.

Wall Street stocks fell sharply after the Federal Reserve lifted interest rates. The Dow, which had been up nearly 300 points prior to the decision, finished down 350 points, or 1.5 per cent, at 23,323.66. It meant the blue-chip index was at its lowest level of 2018.

In a news conference after the release of the policy statement, Fed chairman Jerome Powell said the central bank would continue trimming its balance sheet by $50 billion each month, and left open the possibility that continued strong data could force it to raise rates to the point where they start to brake the economy's momentum.

Powell did bow to what he called recent "softening" in global growth, tighter financial conditions, and expectations the US economy will slow next year, and said that with inflation expected to remain a touch below the Fed's 2 per cent target next year, policymakers can be "patient."

Fresh economic forecasts showed officials at the median now see only two more rate hikes next year compared to the three projected in September.

But another message was clear in the statement issued after the Fed's last policy meeting of the year as well as in Powell's comments: The US economy continues to perform well and no longer needs the Fed's support either through lower-than-normal interest rates or by maintaining of a massive balance sheet.

"Policy does not need to be accommodative," he said.

In its statement, the Fed said risks to the economy were "roughly balanced" but that it would "continue to monitor global economic and financial developments and assess their implications for the economic outlook."

The Fed also made a widely expected technical adjustment, raising the rate it pays on banks' excess reserves by just 20 basis points to give it better control over the policy rate and keep it within the targeted range.

The decision to raise borrowing costs again is likely to anger Trump, who has repeatedly attacked the central bank's tightening this year as damaging to the economy.

After weeks of market volatility and calls by President Donald Trump for the Federal Reserve to stop raising interest rates, the US central bank instead did it again, and stuck by a plan to keep withdrawing support from an economy it views as strong.

After weeks of market volatility and calls by President Donald Trump for the Federal Reserve to stop raising interest rates, the US central bank instead did it again, and stuck by a plan to keep withdrawing support from an economy it views as strong. US stocks and bond yields fell hard. With the Fed signalling "some further gradual" rate hikes and no break from cutting its massive bond portfolio, traders fretted that policymakers could choke off economic growth. "Maybe they have already committed their policy error," said Fritz Folts, chief investment strategist at 3Edge Asset Management. "We would be in the camp that they have already raised rates too much." Interest rate futures show traders are currently betting the Fed won't raise rates at all next year. Wednesday's rate increase, the fourth of the year, pushed the central bank's key overnight lending rate to a range of 2.25 per cent to 2.50 per cent. Wall Street stocks fell sharply after the Federal Reserve lifted interest rates. The Dow, which had been up nearly 300 points prior to the decision, finished down 350 points, or 1.5 per cent, at 23,323.66. It meant the blue-chip index was at its lowest level of 2018. In a news conference after the release of the policy statement, Fed chairman Jerome Powell said the central bank would continue trimming its balance sheet by $50 billion each month, and left open the possibility that continued strong data could force it to raise rates to the point where they start to brake the economy's momentum. Powell did bow to what he called recent "softening" in global growth, tighter financial conditions, and expectations the US economy will slow next year, and said that with inflation expected to remain a touch below the Fed's 2 per cent target next year, policymakers can be "patient." Fresh economic forecasts showed officials at the median now see only two more rate hikes next year compared to the three projected in September. But another message was clear in the statement issued after the Fed's last policy meeting of the year as well as in Powell's comments: The US economy continues to perform well and no longer needs the Fed's support either through lower-than-normal interest rates or by maintaining of a massive balance sheet. "Policy does not need to be accommodative," he said. In its statement, the Fed said risks to the economy were "roughly balanced" but that it would "continue to monitor global economic and financial developments and assess their implications for the economic outlook." The Fed also made a widely expected technical adjustment, raising the rate it pays on banks' excess reserves by just 20 basis points to give it better control over the policy rate and keep it within the targeted range. The decision to raise borrowing costs again is likely to anger Trump, who has repeatedly attacked the central bank's tightening this year as damaging to the economy.

US Federal Reserve hikes interest rates; Wall Street stocks tumble

The Indian rupee — which has been in constant decline this year, it fell over 13% in 2018 — may be a top performer of 2019, analysts have said.

Tumbling oil prices have put the rupee on course for the best quarter in nearly two years.&nbsp;

The rally is expected to run well into the new year. During most of this year, elevated energy costs and a strong dollar combined to make the rupee Asia’s worst performer.

But a slump in crude oil prices and a slowdown in the pace of tightening by the federal reserve mean that rupee may resume its winning ways in 2019.

The rupee jumped nearly 2.1 per cent on Monday and Tuesday alone. This is welcome news as political uncertainties were expected to trip up the currency. Lower crude prices have, however, offset that.

Some analysts say that in the short term, the rupee will appreciate further.&nbsp;

Softening of inflation, less hawkishness from the US Federal and hopes of increased capital inflows, a consequence of falling crude oil prices, are some of the reasons which have led to a surge in the Indian rupee against the greenback.

The recent surge is quite significant because rupee was heading towards its worst year since 2013 until the appreciation in the last few days.

It's not only the US Central bank's decision that is aiding the rupee. Reserve bank of India has decided to increase liquidity infusion by 10,000 crore rupees this month. The overall liquidity infusion by RBI will be 50,000 crore rupees. Not just that. RBI has already infused 20,000 crore rupees through purchase auctions open market operations.

All of these are likely to give some respite to the Indian rupee.

The Indian rupee — which has been in constant decline this year, it fell over 13% in 2018 — may be a top performer of 2019, analysts have said. Tumbling oil prices have put the rupee on course for the best quarter in nearly two years.

The Indian rupee — which has been in constant decline this year, it fell over 13% in 2018 — may be a top performer of 2019, analysts have said. Tumbling oil prices have put the rupee on course for the best quarter in nearly two years. The rally is expected to run well into the new year. During most of this year, elevated energy costs and a strong dollar combined to make the rupee Asia’s worst performer. But a slump in crude oil prices and a slowdown in the pace of tightening by the federal reserve mean that rupee may resume its winning ways in 2019. The rupee jumped nearly 2.1 per cent on Monday and Tuesday alone. This is welcome news as political uncertainties were expected to trip up the currency. Lower crude prices have, however, offset that. Some analysts say that in the short term, the rupee will appreciate further. Softening of inflation, less hawkishness from the US Federal and hopes of increased capital inflows, a consequence of falling crude oil prices, are some of the reasons which have led to a surge in the Indian rupee against the greenback. The recent surge is quite significant because rupee was heading towards its worst year since 2013 until the appreciation in the last few days. It's not only the US Central bank's decision that is aiding the rupee. Reserve bank of India has decided to increase liquidity infusion by 10,000 crore rupees this month. The overall liquidity infusion by RBI will be 50,000 crore rupees. Not just that. RBI has already infused 20,000 crore rupees through purchase auctions open market operations. All of these are likely to give some respite to the Indian rupee.

After very troubled year, Indian rupee to be a top performer of 2019?

Indian shares pared early losses to end lower on Thursday, as investors locked in profit following seven sessions of gains.

The BSE Sensex closed down 0.14 per cent at 36,431.67, while Nifty ended 0.14 per cent lower at 10,951.7.

The rupee and stocks weakened early on Thursday, tracking Asian peers after the US Federal Reserve gave a 2019 rate outlook that traders called "less dovish" than they expected.

Earlier in the day, the broader NSE index fell up to 0.80 per cent, while the benchmark BSE index dropped as much as 0.77 per cent.&nbsp;

"There has been some profit-booking, but there are multiple positive factors and the fundamentals are strong," said Vinod Nair, head of research, Geojit Financial Services.&nbsp;

Financial stocks were the biggest drag on both indexes, with State Bank of India closing 2.2 per cent lower and Axis Bank Ltd ending 1.4 per cent weaker.

Indian shares pared early losses to end lower on Thursday, as investors locked in profit following seven sessions of gains. The BSE Sensex closed down 0.14 per cent at 36,431.

Indian shares pared early losses to end lower on Thursday, as investors locked in profit following seven sessions of gains. The BSE Sensex closed down 0.14 per cent at 36,431.67, while Nifty ended 0.14 per cent lower at 10,951.7. The rupee and stocks weakened early on Thursday, tracking Asian peers after the US Federal Reserve gave a 2019 rate outlook that traders called "less dovish" than they expected. Earlier in the day, the broader NSE index fell up to 0.80 per cent, while the benchmark BSE index dropped as much as 0.77 per cent. "There has been some profit-booking, but there are multiple positive factors and the fundamentals are strong," said Vinod Nair, head of research, Geojit Financial Services. Financial stocks were the biggest drag on both indexes, with State Bank of India closing 2.2 per cent lower and Axis Bank Ltd ending 1.4 per cent weaker.

Nifty, Sensex snap winning streak; financials drag

Tokyo led a rout of Asian shares Thursday, <a href="http://www.wionews.com/business-economy/us-federal-reserve-hikes-interest-rates-wall-street-stocks-tumble-185385">mirroring big losses on Wall Street </a>after the Fed defied unprecedented pressure from Donald Trump and raised interest rates, sparking fears the move could choke economic growth.

The Nikkei plunged to a 15-month low as investors took fright over the pace of monetary tightening, with a slump triggered by the Dow's fall to its lowest level of 2018 gathering pace.

The US Federal Reserve raised rates for the fourth time this year - as expected - but markets reacted badly after chairman Jerome Powell said the bank would not shift course on reducing its balance sheet.

Investors had hoped for a less aggressive approach amid concern that global growth is slowing, but Powell played down the impact of recent market turmoil on the US economy.

"They think the Fed has completely misjudged the situation and now it's just a matter of just trying to find an exit while you can," said Kyle Rodda, a market analyst at IG Group in Melbourne.

"We're probably entering a stage now where markets have got it (in) their head that we're preparing for quite sustained downside going into 2019."

The Fed now projects only two interest rate increases, down from three previously, as it trimmed its forecast for US growth and inflation.

Stephen Innes, head of Asia-Pacific trade at OANDA, said the "Fed delivered a dovish hike, but clearly, there wasn't enough affirmation in the statement that the Fed was close to pausing or ending their interest rate hike cycle sooner than expected".

Some analysts were puzzled by investors' reaction.

Ray Attrill, strategist at National Australia Bank, said the post-Fed sentiment was "a bit surprising" given the bank stressed a "gradual" pace of rate hikes next year.

But the spillover from the rate hike continued to rattle investors in Asia Thursday, deepening concern over global growth prospects which are already facing headwinds from President Trump's trade war with Beijing, a slowing Chinese economy, and potential turmoil from Britain quitting the European Union.

Japanese stocks were given little support by the Bank of Japan, which left rates unchanged with the threat of trade protectionism and slowing global growth casting a pall over the export-dependent economy.

A strong yen also put downward pressure on stocks, with the dollar falling below 112 yen.

Nissan dropped more than two per cent after a Japanese court rejected prosecutors' request to extend the detention of former Nissan chairman Carlos Ghosn after his arrest for financial misconduct.

Shanghai was down more than 0.5 per cent, even after the People's Bank of China said it would supply lower-cost liquidity for up to three years to banks willing to lend more to small companies, as policymakers aim to shore up the flagging economy.

Sydney closed more than one per cent lower while Hong Kong was also down in afternoon trade.

Wednesday's quarter-point hike in the US came after Trump repeatedly demanded on Twitter the bank hold rates, in what was regarded as the most public assault on the Fed's independence in decades.

The US president has cited the dollar's strength as a reason the Fed should stop raising interest rates because higher rates tend to attract foreign capital to a currency.

Both oil contracts slid Thursday, reversing strong gains from a day earlier on concerns about growth and US oversupply, and tracking equity losses.

A smaller than expected fall in US crude stockpiles added to supply glut fears triggered earlier this week by forecasts of increasing shale oil production.

Traders are also wary of prospects of softening global growth.

"A tepid global economic growth outlook also weighed on oil prices as the demand for energy is probably going to remain subdued," said Margaret Yang Yan, from CMC Markets in Singapore.

Tokyo led a rout of Asian shares Thursday, mirroring big losses on Wall Street after the Fed defied unprecedented pressure from Donald Trump and raised interest rates, sparking fears the move could choke economic growth.

Tokyo led a rout of Asian shares Thursday, mirroring big losses on Wall Street after the Fed defied unprecedented pressure from Donald Trump and raised interest rates, sparking fears the move could choke economic growth. The Nikkei plunged to a 15-month low as investors took fright over the pace of monetary tightening, with a slump triggered by the Dow's fall to its lowest level of 2018 gathering pace. The US Federal Reserve raised rates for the fourth time this year - as expected - but markets reacted badly after chairman Jerome Powell said the bank would not shift course on reducing its balance sheet. Investors had hoped for a less aggressive approach amid concern that global growth is slowing, but Powell played down the impact of recent market turmoil on the US economy. "They think the Fed has completely misjudged the situation and now it's just a matter of just trying to find an exit while you can," said Kyle Rodda, a market analyst at IG Group in Melbourne. "We're probably entering a stage now where markets have got it (in) their head that we're preparing for quite sustained downside going into 2019." The Fed now projects only two interest rate increases, down from three previously, as it trimmed its forecast for US growth and inflation. Stephen Innes, head of Asia-Pacific trade at OANDA, said the "Fed delivered a dovish hike, but clearly, there wasn't enough affirmation in the statement that the Fed was close to pausing or ending their interest rate hike cycle sooner than expected". Some analysts were puzzled by investors' reaction. Ray Attrill, strategist at National Australia Bank, said the post-Fed sentiment was "a bit surprising" given the bank stressed a "gradual" pace of rate hikes next year. But the spillover from the rate hike continued to rattle investors in Asia Thursday, deepening concern over global growth prospects which are already facing headwinds from President Trump's trade war with Beijing, a slowing Chinese economy, and potential turmoil from Britain quitting the European Union. Japanese stocks were given little support by the Bank of Japan, which left rates unchanged with the threat of trade protectionism and slowing global growth casting a pall over the export-dependent economy. A strong yen also put downward pressure on stocks, with the dollar falling below 112 yen. Nissan dropped more than two per cent after a Japanese court rejected prosecutors' request to extend the detention of former Nissan chairman Carlos Ghosn after his arrest for financial misconduct. Shanghai was down more than 0.5 per cent, even after the People's Bank of China said it would supply lower-cost liquidity for up to three years to banks willing to lend more to small companies, as policymakers aim to shore up the flagging economy. Sydney closed more than one per cent lower while Hong Kong was also down in afternoon trade. Wednesday's quarter-point hike in the US came after Trump repeatedly demanded on Twitter the bank hold rates, in what was regarded as the most public assault on the Fed's independence in decades. The US president has cited the dollar's strength as a reason the Fed should stop raising interest rates because higher rates tend to attract foreign capital to a currency. Both oil contracts slid Thursday, reversing strong gains from a day earlier on concerns about growth and US oversupply, and tracking equity losses. A smaller than expected fall in US crude stockpiles added to supply glut fears triggered earlier this week by forecasts of increasing shale oil production. Traders are also wary of prospects of softening global growth. "A tepid global economic growth outlook also weighed on oil prices as the demand for energy is probably going to remain subdued," said Margaret Yang Yan, from CMC Markets in Singapore.

Asian markets sink after US Federal Reserve hikes rates

The benchmark BSE Sensex advanced over 100 points in early trade Wednesday on gains in blue-chips like Maruti Suzuki, SBI, Tata Steel and ITC amid rising rupee and tumbling crude prices.

Rising for the seventh straight session, the 30-share index spurted 104.05 points, or 0.29 per cent, to 36,451.13.

The barometer had rallied over 1,387 points in the previous six sessions. 
Led by FMCG, oil and gas, PSU and realty, sectoral indices advanced up to 0.99 per cent.

The NSE Nifty saw similar movement, rising up 36.60 points, or 0.34 per cent, to 10,945.30.

Brokers said sustained buying by investors and foreign fund inflows, coupled with strengthening rupee against the US dollar and falling global crude oil prices, influenced trading sentiment here.

Negative Asian cues on a likely Federal Reserve interest rate hike, limited the gains here, traders said.

The rupee breached the 70 mark by surging 50 paise to trade at 69.94 against the dollar in early trade at the interbank forex market.

Prominent gainers were Asian Paint, Axis Bank, ITC, Maruti Suzuki, SBI, HDFC, Yes Bank, Bharti Airtel, HUL, Tata Steel, Bajaj Auto, L&amp;T, RIL and HDFC Bank, rising up to 1.70 per cent.

However, Infosys emerged worst Sensex performer, falling 1.20 per cent, followed by Vedanta, TCS, Tata Motors and Sun Pharma.

Shares of aviation companies rose after crude prices hit a 14-month low.&nbsp;

InterGlobe Aviation, SpiceJet and Jet Airways rallied up to 5 per cent.

Stocks of oil marketing companies like IOC, HPCL, BPCL and OIL too gained up to 1.43 per cent.

Brent crude, an international benchmark, dropped 4.2 per cent lower to USD 57.07 per barrel Tuesday, a 14-month low.

Meanwhile, foreign institutional investors (FIIs) bought shares to the tune of Rs 144.76 crore Tuesday, while domestic institutional investors (DIIs) sold shares worth a net of Rs 182.60, provisional data showed.

Elsewhere in Asia, Japan's Nikkei fell 0.43 per cent, Shanghai Composite Index shed 0.25 per cent, while Hong Kong's Hang Seng rose 0.10 per cent.

The US Dow Jones Industrial Average ended 0.35 per cent higher Tuesday.

The benchmark BSE Sensex advanced over 100 points in early trade Wednesday on gains in blue-chips like Maruti Suzuki, SBI, Tata Steel and ITC amid rising rupee and tumbling crude prices.

The benchmark BSE Sensex advanced over 100 points in early trade Wednesday on gains in blue-chips like Maruti Suzuki, SBI, Tata Steel and ITC amid rising rupee and tumbling crude prices. Rising for the seventh straight session, the 30-share index spurted 104.05 points, or 0.29 per cent, to 36,451.13. The barometer had rallied over 1,387 points in the previous six sessions. Led by FMCG, oil and gas, PSU and realty, sectoral indices advanced up to 0.99 per cent. The NSE Nifty saw similar movement, rising up 36.60 points, or 0.34 per cent, to 10,945.30. Brokers said sustained buying by investors and foreign fund inflows, coupled with strengthening rupee against the US dollar and falling global crude oil prices, influenced trading sentiment here. Negative Asian cues on a likely Federal Reserve interest rate hike, limited the gains here, traders said. The rupee breached the 70 mark by surging 50 paise to trade at 69.94 against the dollar in early trade at the interbank forex market. Prominent gainers were Asian Paint, Axis Bank, ITC, Maruti Suzuki, SBI, HDFC, Yes Bank, Bharti Airtel, HUL, Tata Steel, Bajaj Auto, L&T, RIL and HDFC Bank, rising up to 1.70 per cent. However, Infosys emerged worst Sensex performer, falling 1.20 per cent, followed by Vedanta, TCS, Tata Motors and Sun Pharma. Shares of aviation companies rose after crude prices hit a 14-month low. InterGlobe Aviation, SpiceJet and Jet Airways rallied up to 5 per cent. Stocks of oil marketing companies like IOC, HPCL, BPCL and OIL too gained up to 1.43 per cent. Brent crude, an international benchmark, dropped 4.2 per cent lower to USD 57.07 per barrel Tuesday, a 14-month low. Meanwhile, foreign institutional investors (FIIs) bought shares to the tune of Rs 144.76 crore Tuesday, while domestic institutional investors (DIIs) sold shares worth a net of Rs 182.60, provisional data showed. Elsewhere in Asia, Japan's Nikkei fell 0.43 per cent, Shanghai Composite Index shed 0.25 per cent, while Hong Kong's Hang Seng rose 0.10 per cent. The US Dow Jones Industrial Average ended 0.35 per cent higher Tuesday.

Sensex rises over 100 points on firm rupee, falling crude prices

After logging its single best gain on Tuesday in over five years, the rupee appreciated another 50 paise to breach the 70 per dollar-mark in opening trade Wednesday on a persistent drop in crude prices amid fresh foreign fund inflows and sustained selling of the American currency by exporters and banks.

Besides, the dollar's weakness against some currencies overseas ahead of US Federal Reserve's policy meet outcome later in the day also supported the rupee.

The domestic unit opened with strength at Rs 70.05 at the Interbank Foreign Exchange and advanced further to 69.87 against the US dollar.

Brent crude, an international benchmark, dropped 4.2 per cent lower to USD 57.07 per barrel Tuesday, a 14-month low.

The rupee Tuesday rallied by a whopping 112 paise, its best single-day gains in over five years, to settle at 70.44 against the US dollar as softening crude oil prices eased concerns over India's current account deficit expansion.

Foreign institutional investors (FIIs) bought shares worth Rs 144.76 crore Tuesday, as per provisional data.

Meanwhile, the benchmark BSE Sensex rose 112.32 points, or 0.31 per cent, to 36,459.09 in opening trade.

After logging its single best gain on Tuesday in over five years, the rupee appreciated another 50 paise to breach the 70 per dollar-mark in opening trade Wednesday on a persistent drop in crude prices amid fresh foreign fund inflows and sustained selling of the American currency by exporters and banks.

After logging its single best gain on Tuesday in over five years, the rupee appreciated another 50 paise to breach the 70 per dollar-mark in opening trade Wednesday on a persistent drop in crude prices amid fresh foreign fund inflows and sustained selling of the American currency by exporters and banks. Besides, the dollar's weakness against some currencies overseas ahead of US Federal Reserve's policy meet outcome later in the day also supported the rupee. The domestic unit opened with strength at Rs 70.05 at the Interbank Foreign Exchange and advanced further to 69.87 against the US dollar. Brent crude, an international benchmark, dropped 4.2 per cent lower to USD 57.07 per barrel Tuesday, a 14-month low. The rupee Tuesday rallied by a whopping 112 paise, its best single-day gains in over five years, to settle at 70.44 against the US dollar as softening crude oil prices eased concerns over India's current account deficit expansion. Foreign institutional investors (FIIs) bought shares worth Rs 144.76 crore Tuesday, as per provisional data. Meanwhile, the benchmark BSE Sensex rose 112.32 points, or 0.31 per cent, to 36,459.09 in opening trade.

After best single-day gain in five years, Rupee continues rising spree against US dollar

SoftBank Corp shares slumped more than 10 per cent in their debut on Wednesday, as investor appetite for Japan's biggest ever IPO was hurt by a recent major service outage and worries over its exposure to <a href="http://www.wionews.com/world/huawei-cfo-meng-wanzhou-freed-on-bail-leaves-courthouse-183504">Chinese telecom gear maker Huawei</a>.

Following its $23.5 billion initial public offering, shares of the telecoms unit of SoftBank Group Corp fell as far as 1,344 yen five minutes into trade, or 10.4 per cent lower than its IPO price of 1,500 yen. The broader Tokyo market was down 1.0 per cent.

At 9:27 am (0027 GMT), the shares were at 1,367 yen, after opening at 1,463 yen. SoftBank Group was down 2.7 per cent.

SoftBank Corp CEO Ken Miyauchi will hold a news conference at 0630 GMT.

The IPO was just shy of the world record $25 billion 2014 listing of Chinese e-commerce giant Alibaba Group Holding Ltd, a SoftBank Group portfolio company.

During the IPO period, Japan's third-largest mobile phone network provider by subscriber numbers suffered a rare nationwide service outage, which it said would not affect earnings or dividends.

Adding to investor worries, SoftBank Corp's relationship with Huawei Technologies Co Ltd&nbsp;came under scrutiny as governments around the world moved to shut out the Chinese firm amid worries its gear could facilitate Chinese spying.

SoftBank Corp, which has the most exposure to Huawei among Japanese telecoms firms, plans to replace Huawei-provided 4G network equipment with other suppliers' hardware, two sources said, in a process likely to be time-consuming and expensive.

SoftBank Corp shares slumped more than 10 per cent in their debut on Wednesday, as investor appetite for Japan's biggest ever IPO was hurt by a recent major service outage and worries over its exposure to Chinese telecom gear maker Huawei.

SoftBank Corp shares slumped more than 10 per cent in their debut on Wednesday, as investor appetite for Japan's biggest ever IPO was hurt by a recent major service outage and worries over its exposure to Chinese telecom gear maker Huawei. Following its $23.5 billion initial public offering, shares of the telecoms unit of SoftBank Group Corp fell as far as 1,344 yen five minutes into trade, or 10.4 per cent lower than its IPO price of 1,500 yen. The broader Tokyo market was down 1.0 per cent. At 9:27 am (0027 GMT), the shares were at 1,367 yen, after opening at 1,463 yen. SoftBank Group was down 2.7 per cent. SoftBank Corp CEO Ken Miyauchi will hold a news conference at 0630 GMT. The IPO was just shy of the world record $25 billion 2014 listing of Chinese e-commerce giant Alibaba Group Holding Ltd, a SoftBank Group portfolio company. During the IPO period, Japan's third-largest mobile phone network provider by subscriber numbers suffered a rare nationwide service outage, which it said would not affect earnings or dividends. Adding to investor worries, SoftBank Corp's relationship with Huawei Technologies Co Ltd came under scrutiny as governments around the world moved to shut out the Chinese firm amid worries its gear could facilitate Chinese spying. SoftBank Corp, which has the most exposure to Huawei among Japanese telecoms firms, plans to replace Huawei-provided 4G network equipment with other suppliers' hardware, two sources said, in a process likely to be time-consuming and expensive.

SoftBank Corp shares slide 10% on debut after record Japan IPO

Indian shares ended higher on Wednesday, underpinned by financials after the central bank announced liquidity injection via open market bond purchase for January, and as crude prices hovered near 14-month lows.

The benchmark BSE Sensex closed 0.38 per cent firmer at 36,484.33.&nbsp;

The broader NSE Nifty ended 0.54 per cent higher at 10,967.3.&nbsp;

Both the indexes recorded a seventh straight session of gains, with the Nifty clocking its best rally since a nine-day streak in April.

Markets received a boost after the Reserve Bank of India announced a higher-than-expected 500 billion rupees ($7.13 billion) of open market bond purchases for next month, reinforcing expectations that the central bank was turning dovish under Shaktikanta Das who was appointed as governor last week.

Softer crude prices have also strengthened India`s macroeconomic indicators, including inflation and its trade deficit, given the South Asian nation imports some two-thirds of its oil needs.

Axis Bank Ltd and Indiabulls Housing Finance Ltd, which were among the top gainers on the NSE index, closed up 3.33 per cent and 7.85 per cent, respectively.

The 10-year benchmark bond yield was at a more-than-eight-month low of 7.25 per cent, while the rupee was trading at 70.37 to the dollar, after climbing to 69.85 earlier in the session.

Markets will also keep a close watch and look for cues on rate hikes from the US Federal Reserve meeting, which concludes later in the day.

Indian shares ended higher on Wednesday, underpinned by financials after the central bank announced liquidity injection via open market bond purchase for January, and as crude prices hovered near 14-month lows.

Indian shares ended higher on Wednesday, underpinned by financials after the central bank announced liquidity injection via open market bond purchase for January, and as crude prices hovered near 14-month lows. The benchmark BSE Sensex closed 0.38 per cent firmer at 36,484.33. The broader NSE Nifty ended 0.54 per cent higher at 10,967.3. Both the indexes recorded a seventh straight session of gains, with the Nifty clocking its best rally since a nine-day streak in April. Markets received a boost after the Reserve Bank of India announced a higher-than-expected 500 billion rupees ($7.13 billion) of open market bond purchases for next month, reinforcing expectations that the central bank was turning dovish under Shaktikanta Das who was appointed as governor last week. Softer crude prices have also strengthened India`s macroeconomic indicators, including inflation and its trade deficit, given the South Asian nation imports some two-thirds of its oil needs. Axis Bank Ltd and Indiabulls Housing Finance Ltd, which were among the top gainers on the NSE index, closed up 3.33 per cent and 7.85 per cent, respectively. The 10-year benchmark bond yield was at a more-than-eight-month low of 7.25 per cent, while the rupee was trading at 70.37 to the dollar, after climbing to 69.85 earlier in the session. Markets will also keep a close watch and look for cues on rate hikes from the US Federal Reserve meeting, which concludes later in the day.

Nifty, Sensex post seventh session of gains; financials lead

Boeing Co raised its projection for India’s aircraft orders to a record high on Wednesday, predicting the nation’s carriers would order up to 2,300 new planes worth $320 billion from global planemakers over the next 20 years. The U.S. planemaker’s estimate for the period to 2037 is about 9.5 per cent higher than its previous prediction of 2,100 jets until 2036 made last year.

India is one of the world’s fastest-growing aviation markets, with domestic passenger traffic growing at around 20 per cent in recent years, and Boeing expects it to become the third-largest commercial aviation market by the early 2020s. High oil prices, hefty fuel taxes and a weak rupee have hurt airlines’ profitability this year, although pressure is starting to ease as oil prices fall and the currency firms.

The Indian market, dominated by low-cost carriers like IndiGo and SpiceJet, is also hobbled by cut-throat competition and chronically low fares that have left full-service airlines like Jet Airways and Air India strapped for cash. “India sees dramatic fares and discounts and that is going to hurt airlines more and more,” Dinesh Keskar, senior vice president, Asia Pacific and India sales at Boeing Commercial Airplanes, told reporters on Wednesday.

“It is important that discipline in airfares comes in.” Domestic carriers like Vistara, a joint venture between Singapore Airlines and India’s Tata Sons, IndiGo and budget airline GoAir are looking overseas for better returns. Boeing expects single-aisle planes, such as its 737 MAX, to account for 84 per cent of global planemakers’ new jet deliveries to India from 2018-2037, higher than the global average.&nbsp;

Boeing Co raised its projection for India’s aircraft orders to a record high on Wednesday, predicting the nation’s carriers would order up to 2,300 new planes worth $320 billion from global planemakers over the next 20 years.

Boeing Co raised its projection for India’s aircraft orders to a record high on Wednesday, predicting the nation’s carriers would order up to 2,300 new planes worth $320 billion from global planemakers over the next 20 years. The U.S. planemaker’s estimate for the period to 2037 is about 9.5 per cent higher than its previous prediction of 2,100 jets until 2036 made last year. India is one of the world’s fastest-growing aviation markets, with domestic passenger traffic growing at around 20 per cent in recent years, and Boeing expects it to become the third-largest commercial aviation market by the early 2020s. High oil prices, hefty fuel taxes and a weak rupee have hurt airlines’ profitability this year, although pressure is starting to ease as oil prices fall and the currency firms. The Indian market, dominated by low-cost carriers like IndiGo and SpiceJet, is also hobbled by cut-throat competition and chronically low fares that have left full-service airlines like Jet Airways and Air India strapped for cash. “India sees dramatic fares and discounts and that is going to hurt airlines more and more,” Dinesh Keskar, senior vice president, Asia Pacific and India sales at Boeing Commercial Airplanes, told reporters on Wednesday. “It is important that discipline in airfares comes in.” Domestic carriers like Vistara, a joint venture between Singapore Airlines and India’s Tata Sons, IndiGo and budget airline GoAir are looking overseas for better returns. Boeing expects single-aisle planes, such as its 737 MAX, to account for 84 per cent of global planemakers’ new jet deliveries to India from 2018-2037, higher than the global average.

Boeing sees Indian carriers ordering up to 2,300 planes over 20 years

Days after Reserve Bank governor Urjit Patel's resignation, finance minister Arun Jaitely Tuesday said while enjoying functional autonomy, a regulator cannot be "isolationist" and has to consult all stakeholders.

Without mentioning the government invoking the never- before-used controversial Section 7 of the RBI Act, he said government used "every instrument available to our advantage to force a discussion with RBI" on the issues of liquidity and credit which is important for the economy.

He claimed that there was never a breakdown in the relationship between RBI and government, and that pleasant meetings were held regularly on the differences at all levels, including with the Prime Minister Narendra Modi.

"Institutions need to be independent, they need to have functional autonomy but institutions don't have to be isolationist," Jaitely said, speaking at an event organised by Republic channel.

Without specifying RBI, he said there is a need for regulators to consult all the stakeholders as that is when one gets a "feel of the market."

One cannot say that one reads the books, data and research papers before forming opinions, he said.

"The empirical situation in the market will be entirely different, unless you consult stakeholders," he said, adding there is a fair chance of a regulator going wrong on a subject because of the isolationist attitude.

It can be noted that in the weeks prior to his sudden exit from RBI, there were some reports of Patel refusing to meet key stakeholders, especially from non-bank lenders when they were in crisis.

Patel's successor Shaktikanta Das has made it clear on day one that he will be meeting all stakeholders more and already had a chat with city-based heads of state run banks.

Jaitley also hit out at previous government for displaying a "defeatist" attitude in the face of an "indifferent" RBI when it came to the matter of interest rate.

Improvising on a statement from his predecessor P Chidambaram of "walking alone" in face of non-cooperation by RBI under D Subbarao, he said, "when you walk, other decision-makers also have to talk with you".

He hoped RBI will look at the widening real interest rates, a consequence of a massive dip in inflation, while announcing the next policy review.

Jaitley also reiterated that government is not eyeing any windfall from the RBI's excess capital reserves which can be used for high public expenditure ahead of the elections.

He also affirmed government's commitment to meet the 3.3 per cent fiscal deficit target, despite the gap already having been overshot with five before the end of the fiscal.

As of October, government has already used up by its borrowing window by 4 percentage points at 104 per cent.

Jaitley said he hops the newly-formed Congress governments in Madhya Pradesh and Chhattisgarh find resources to fund farm loan waivers while flagging the importance of states also not missing their fiscal gap targets.

Referring to the pain caused by populist measures, he said a previous Congress government's free electricity to farmers resulted in state-run discoms' debt shooting up to Rs 70,000 crore from Rs 22,000 crore in five years after the announcement.&nbsp;

Days after Reserve Bank governor Urjit Patel's resignation, finance minister Arun Jaitely Tuesday said while enjoying functional autonomy, a regulator cannot be "isolationist" and has to consult all stakeholders.

Days after Reserve Bank governor Urjit Patel's resignation, finance minister Arun Jaitely Tuesday said while enjoying functional autonomy, a regulator cannot be "isolationist" and has to consult all stakeholders. Without mentioning the government invoking the never- before-used controversial Section 7 of the RBI Act, he said government used "every instrument available to our advantage to force a discussion with RBI" on the issues of liquidity and credit which is important for the economy. He claimed that there was never a breakdown in the relationship between RBI and government, and that pleasant meetings were held regularly on the differences at all levels, including with the Prime Minister Narendra Modi. "Institutions need to be independent, they need to have functional autonomy but institutions don't have to be isolationist," Jaitely said, speaking at an event organised by Republic channel. Without specifying RBI, he said there is a need for regulators to consult all the stakeholders as that is when one gets a "feel of the market." One cannot say that one reads the books, data and research papers before forming opinions, he said. "The empirical situation in the market will be entirely different, unless you consult stakeholders," he said, adding there is a fair chance of a regulator going wrong on a subject because of the isolationist attitude. It can be noted that in the weeks prior to his sudden exit from RBI, there were some reports of Patel refusing to meet key stakeholders, especially from non-bank lenders when they were in crisis. Patel's successor Shaktikanta Das has made it clear on day one that he will be meeting all stakeholders more and already had a chat with city-based heads of state run banks. Jaitley also hit out at previous government for displaying a "defeatist" attitude in the face of an "indifferent" RBI when it came to the matter of interest rate. Improvising on a statement from his predecessor P Chidambaram of "walking alone" in face of non-cooperation by RBI under D Subbarao, he said, "when you walk, other decision-makers also have to talk with you". He hoped RBI will look at the widening real interest rates, a consequence of a massive dip in inflation, while announcing the next policy review. Jaitley also reiterated that government is not eyeing any windfall from the RBI's excess capital reserves which can be used for high public expenditure ahead of the elections. He also affirmed government's commitment to meet the 3.3 per cent fiscal deficit target, despite the gap already having been overshot with five before the end of the fiscal. As of October, government has already used up by its borrowing window by 4 percentage points at 104 per cent. Jaitley said he hops the newly-formed Congress governments in Madhya Pradesh and Chhattisgarh find resources to fund farm loan waivers while flagging the importance of states also not missing their fiscal gap targets. Referring to the pain caused by populist measures, he said a previous Congress government's free electricity to farmers resulted in state-run discoms' debt shooting up to Rs 70,000 crore from Rs 22,000 crore in five years after the announcement.

Regulators can't work in isolation: Jaitley on row with RBI

<a href="http://www.wionews.com/india-news/firm-dollar-weighs-on-gold-amid-global-growth-risks-184712">Gold prices rose </a>slightly on Tuesday ahead of a key US Federal Reserve meeting, as speculation that signs of economic turbulence may prompt the central bank to put brakes soon on its monetary tightening cycle kept the dollar under pressure.

The Federal Open Market Committee (FOMC) is widely expected to raise interest rates at its two-day meeting starting later in the day, but the focus will be on its outlook for 2019.

"Investors are hoping gold prices will go up further after the meeting," said Brian Lan, managing director at dealer GoldSilver Central in Singapore, adding that $1,251 would be the next level that gold will likely test with support at $1,245.

Spot gold was up 0.2 per cent at $1,248.14 per ounce at 0436 GMT, while US gold futures inched 0.1 per cent higher to $1,252.2 per ounce.

Meanwhile, the dollar index inched lower after losing 0.4 per cent on Monday, amid speculation the Fed will soon hit the pause button to its monetary tightening cycle in the face of rising risks to global growth.

Lower interest rates reduce the opportunity cost of holding non-yielding bullion and weigh on the dollar.

"The US dollar remains the prime mover for gold prices in the current term," Benjamin Lu, a commodities analyst with Phillip Futures in Singapore, said in a note.

"Though upside potential for gold prices faces impediment from a vigorous dollar, looming economic uncertainties will present optimistic conditions for safe-haven assets beyond 2018."

Also supporting the bullion, <a href="http://www.wionews.com/business-economy/asia-stocks-slide-as-global-growth-worries-deepen-184957">Asian share markets slumped </a>on Tuesday, while Wall Street stocks skidded to their lowest levels in more than a year in the previous session.

Spot gold may rise into a range of $1,253-$1,258 per ounce, according to Wang Tao, a Reuters market analyst for commodities and energy technicals.

Among other precious metals, silver was up 0.1 per cent at $14.67 per ounce, while platinum fell 0.3 per cent, to $791.10 per ounce

Spot palladium slipped 0.2 per cent to $1,255.95 per ounce after touching a record high of $1,269.5 in the previous session.

Gold prices rose slightly on Tuesday ahead of a key US Federal Reserve meeting, as speculation that signs of economic turbulence may prompt the central bank to put brakes soon on its monetary tightening cycle kept the dollar under pressure.

Gold prices rose slightly on Tuesday ahead of a key US Federal Reserve meeting, as speculation that signs of economic turbulence may prompt the central bank to put brakes soon on its monetary tightening cycle kept the dollar under pressure. The Federal Open Market Committee (FOMC) is widely expected to raise interest rates at its two-day meeting starting later in the day, but the focus will be on its outlook for 2019. "Investors are hoping gold prices will go up further after the meeting," said Brian Lan, managing director at dealer GoldSilver Central in Singapore, adding that $1,251 would be the next level that gold will likely test with support at $1,245. Spot gold was up 0.2 per cent at $1,248.14 per ounce at 0436 GMT, while US gold futures inched 0.1 per cent higher to $1,252.2 per ounce. Meanwhile, the dollar index inched lower after losing 0.4 per cent on Monday, amid speculation the Fed will soon hit the pause button to its monetary tightening cycle in the face of rising risks to global growth. Lower interest rates reduce the opportunity cost of holding non-yielding bullion and weigh on the dollar. "The US dollar remains the prime mover for gold prices in the current term," Benjamin Lu, a commodities analyst with Phillip Futures in Singapore, said in a note. "Though upside potential for gold prices faces impediment from a vigorous dollar, looming economic uncertainties will present optimistic conditions for safe-haven assets beyond 2018." Also supporting the bullion, Asian share markets slumped on Tuesday, while Wall Street stocks skidded to their lowest levels in more than a year in the previous session. Spot gold may rise into a range of $1,253-$1,258 per ounce, according to Wang Tao, a Reuters market analyst for commodities and energy technicals. Among other precious metals, silver was up 0.1 per cent at $14.67 per ounce, while platinum fell 0.3 per cent, to $791.10 per ounce Spot palladium slipped 0.2 per cent to $1,255.95 per ounce after touching a record high of $1,269.5 in the previous session.

Gold ticks up as dollar stays under pressure ahead of Fed meeting

Breaking its five-day winning streak, the benchmark BSE Sensex fell 141 points in early trade Tuesday, as banking, IT, realty and FMCG stocks retreated, tracking sell-off in global market.

The 30-share index dropped 140.51 points, or 0.40 per cent, to 36,129.56 points in opening trade. The gauge had rallied over 1,310 points in the previous five sessions.

The NSE Nifty too fell 47.50 points, or 0.44 per cent, to 10,840.85. 
Among sectoral indices, IT fell the most 1.19 per cent, followed by tech 1.08 per cent, on account of appreciating domestic currency.

Meanwhile, FMCG, healthcare, banking and consumer durables also fell by up to 0.35 per cent as profit-taking emerged on these counters.

Brokers said, the decline in benchmark indices was on account of a weak trend in Asian markets amid sharp losses at the Wall Street, as investors continued to fear to weaken global growth. Besides, profit-booking in recent gainers also dampened investor sentiment here.

Infosys emerged as the worst performer in the Sensex pack, falling 1.67 per cent, followed by Wipro at 1.49 per cent on weakening dollar against the rupee.

Other laggards include Yes Bank, HDFC Ltd, ICICI Bank, HUL, IndusInd Bank, Adani Ports, TCS, ONGC, ITC Ltd, Axis Bank, HDFC Bank, Maruti Suzuki, SBI, RIL, Coal India and Asian Paint, falling up to 0.88 per cent. 
However, Tata Motors, M&amp;M, Bajaj Auto, Sun Pharma, L&amp;T, Hero MotoCorp, PowerGrid and Bharti Airtel, defied the broader market sentiment and were trading higher by up to 1.12 per cent.

Stocks of state-run oil marketing companies such HPCL, BPCL and IOC were trading higher up to 1.16 per cent on the back of easing crude oil prices in global market.

According to provisional data, domestic institutional investors sold shares worth a net of Rs 76.84 crore, while foreign institutional investors (FIIs) offloaded shares to the tune of Rs 60.95 crore Monday.

Elsewhere in Asia, Japan's Nikkei shed 1.23 per cent. Hong Kong's Hang Seng dropped 1.01 per cent, Shanghai Composite Index fell 1.09 per cent and Korea's KOSPI fell 0.39 per cent.

The US Dow Jones Industrial Average ended 2.11 per cent down Monday.

Breaking its five-day winning streak, the benchmark BSE Sensex fell 141 points in early trade Tuesday, as banking, IT, realty and FMCG stocks retreated, tracking sell-off in global market.

Breaking its five-day winning streak, the benchmark BSE Sensex fell 141 points in early trade Tuesday, as banking, IT, realty and FMCG stocks retreated, tracking sell-off in global market. The 30-share index dropped 140.51 points, or 0.40 per cent, to 36,129.56 points in opening trade. The gauge had rallied over 1,310 points in the previous five sessions. The NSE Nifty too fell 47.50 points, or 0.44 per cent, to 10,840.85. Among sectoral indices, IT fell the most 1.19 per cent, followed by tech 1.08 per cent, on account of appreciating domestic currency. Meanwhile, FMCG, healthcare, banking and consumer durables also fell by up to 0.35 per cent as profit-taking emerged on these counters. Brokers said, the decline in benchmark indices was on account of a weak trend in Asian markets amid sharp losses at the Wall Street, as investors continued to fear to weaken global growth. Besides, profit-booking in recent gainers also dampened investor sentiment here. Infosys emerged as the worst performer in the Sensex pack, falling 1.67 per cent, followed by Wipro at 1.49 per cent on weakening dollar against the rupee. Other laggards include Yes Bank, HDFC Ltd, ICICI Bank, HUL, IndusInd Bank, Adani Ports, TCS, ONGC, ITC Ltd, Axis Bank, HDFC Bank, Maruti Suzuki, SBI, RIL, Coal India and Asian Paint, falling up to 0.88 per cent. However, Tata Motors, M&M, Bajaj Auto, Sun Pharma, L&T, Hero MotoCorp, PowerGrid and Bharti Airtel, defied the broader market sentiment and were trading higher by up to 1.12 per cent. Stocks of state-run oil marketing companies such HPCL, BPCL and IOC were trading higher up to 1.16 per cent on the back of easing crude oil prices in global market. According to provisional data, domestic institutional investors sold shares worth a net of Rs 76.84 crore, while foreign institutional investors (FIIs) offloaded shares to the tune of Rs 60.95 crore Monday. Elsewhere in Asia, Japan's Nikkei shed 1.23 per cent. Hong Kong's Hang Seng dropped 1.01 per cent, Shanghai Composite Index fell 1.09 per cent and Korea's KOSPI fell 0.39 per cent. The US Dow Jones Industrial Average ended 2.11 per cent down Monday.

Sensex drops 141 points on global sell-off, profit-booking

<a href="http://www.wionews.com/business-economy/asian-markets-rise-ahead-of-key-meetings-in-china-and-us-184789">Asian share markets </a>slumped on Tuesday as heightened concerns about a <a href="http://www.wionews.com/business-economy/imf-says-trade-war-already-hurting-asia-may-cut-global-growth-forecasts-184777">slowing global economy</a> sent Wall Street stocks skidding to their lowest levels in more than a year.

MSCI's broadest index of Asia-Pacific shares outside Japan shed 0.3 per cent in mid-morning trade while Japan's Nikkei tumbled 1.2 per cent by the midday break.

Chinese shares opened in negative territory with the blue-chip index down 0.3 per cent and Hong Kong's Hang Seng index flat, while Australian shares fell 0.8 per cent.

MSCI's broadest gauge of the world's stock markets, ACWI, was down 0.05 per cent on Tuesday, after having hit its weakest level since May 2017 the previous day. It has declined 16 per cent from a top hit on January 29.

US stock futures rose 0.4 per cent in Asia following the previous session's sharp sell-off.

On Monday, the S&amp;P 500 lost 2.08 per cent to hit its lowest since October 2017 as it breached lows reached during a sell-off in February, having wiped out about $3.4 trillion of market value since late September.

The Nasdaq Composite dropped 2.27 per cent, with Amazon, one of the best performing shares this year, sliding 4.5 per cent.

A profit warning from ASOS, a previously high-flying UK online-clothing retailer, shocked investors, sending US consumer discretionary shares down 2.8 per cent

"US retailers have been stocking up consumer goods from China before hikes in tariff, piling up inventories. From now their costs are seen rising next year. That may have been kind of known to everyone but it's becoming reality," said Tatsushi Maeno, senior strategist at Okasan Asset Management.

In addition, the National Association of Home Builders Housing Market Index indicated U.S. homebuilder sentiment had fallen to a three-and-a-half-year low. It was the second consecutive month of disappointing reading.

The gloomy data came after weak economic news from China and Europe late last week.

The 10-year US&nbsp;Treasuries yield dropped to 2.853 per cent, edging near a Dec. 10 low of 2.825 per cent, its lowest level since late August.

FOCUS SHIFTS TO FED

The Federal Reserve is widely expected to raise interest rates on Wednesday, which would be its fourth hike this year.

But many investors now expect signs of economic turbulence to prompt the Fed to signal a slowdown in the pace of tightening next year.

On Monday, US President Donald Trump and his top trade adviser ratcheted up their criticism of the central bank's monetary tightening.

"It is incredible that with a very strong dollar and virtually no inflation, the outside world blowing up around us, Paris is burning and China way down, the Fed is even considering yet another interest rate hike. Take the Victory!" Trump wrote in a tweet.

White House trade adviser Peter Navarro amplified those remarks a few hours later, calling the Fed "crazy" for having signalled that it would continue to raise rates next year.

The Fed said in September that its policymakers see three more rate hikes in 2019 while money market futures are pricing in less than one such move.

"The major event between now and the end of the year is going to be what the Fed does tomorrow," said Jim McCafferty, Hong Kong-based head of Asia-ex-Japan equity research at Nomura.

"Given the pace of change of sentiment seen from not just companies but (also) from major macro-economies, I think there might be an outside chance that the Fed gives a more muted message in terms of growth and how aggressive it will be in terms of future rate hikes," he added.

The spectre of a "dovish rate hike" kept the dollar in check.

The euro traded slightly higher at $1.1355, after having gained 0.40 per cent on Monday.

The greenback gave up 0.1 per cent against the Japanese yen to 112.70 yen, adding to Monday's fall of nearly half a per cent.

The offshore Chinese yuan was slightly stronger at 6.8900 to the dollar.

Investors are awaiting details of a speech by President Xi Jinping to mark the 40th anniversary of China's market reforms.

China is also expected to hold its annual Central Economic Work Conference later this week, where key growth targets and policy goals for 2019 will be discussed.

Oil prices extended losses on signs of oversupply in the United States and as investor sentiment remained under pressure from concern over global economic growth and fuel demand.

<a href="http://www.wionews.com/business-economy/rupee-rises-37-paise-to-7119-against-us-dollar-on-falling-crude-prices-184949">US crude fell as low</a> as $49.01 per barrel on Monday, its lowest since September last year and last stood at $49.37, down 1.0 per cent on the day.

Brent crude oil futures lost 65 cents, or 1.1 percent, to $58.96 per barrel.

Asian share markets slumped on Tuesday as heightened concerns about a slowing global economy sent Wall Street stocks skidding to their lowest levels in more than a year.

Asian share markets slumped on Tuesday as heightened concerns about a slowing global economy sent Wall Street stocks skidding to their lowest levels in more than a year. MSCI's broadest index of Asia-Pacific shares outside Japan shed 0.3 per cent in mid-morning trade while Japan's Nikkei tumbled 1.2 per cent by the midday break. Chinese shares opened in negative territory with the blue-chip index down 0.3 per cent and Hong Kong's Hang Seng index flat, while Australian shares fell 0.8 per cent. MSCI's broadest gauge of the world's stock markets, ACWI, was down 0.05 per cent on Tuesday, after having hit its weakest level since May 2017 the previous day. It has declined 16 per cent from a top hit on January 29. US stock futures rose 0.4 per cent in Asia following the previous session's sharp sell-off. On Monday, the S&P 500 lost 2.08 per cent to hit its lowest since October 2017 as it breached lows reached during a sell-off in February, having wiped out about $3.4 trillion of market value since late September. The Nasdaq Composite dropped 2.27 per cent, with Amazon, one of the best performing shares this year, sliding 4.5 per cent. A profit warning from ASOS, a previously high-flying UK online-clothing retailer, shocked investors, sending US consumer discretionary shares down 2.8 per cent "US retailers have been stocking up consumer goods from China before hikes in tariff, piling up inventories. From now their costs are seen rising next year. That may have been kind of known to everyone but it's becoming reality," said Tatsushi Maeno, senior strategist at Okasan Asset Management. In addition, the National Association of Home Builders Housing Market Index indicated U.S. homebuilder sentiment had fallen to a three-and-a-half-year low. It was the second consecutive month of disappointing reading. The gloomy data came after weak economic news from China and Europe late last week. The 10-year US Treasuries yield dropped to 2.853 per cent, edging near a Dec. 10 low of 2.825 per cent, its lowest level since late August. FOCUS SHIFTS TO FED The Federal Reserve is widely expected to raise interest rates on Wednesday, which would be its fourth hike this year. But many investors now expect signs of economic turbulence to prompt the Fed to signal a slowdown in the pace of tightening next year. On Monday, US President Donald Trump and his top trade adviser ratcheted up their criticism of the central bank's monetary tightening. "It is incredible that with a very strong dollar and virtually no inflation, the outside world blowing up around us, Paris is burning and China way down, the Fed is even considering yet another interest rate hike. Take the Victory!" Trump wrote in a tweet. White House trade adviser Peter Navarro amplified those remarks a few hours later, calling the Fed "crazy" for having signalled that it would continue to raise rates next year. The Fed said in September that its policymakers see three more rate hikes in 2019 while money market futures are pricing in less than one such move. "The major event between now and the end of the year is going to be what the Fed does tomorrow," said Jim McCafferty, Hong Kong-based head of Asia-ex-Japan equity research at Nomura. "Given the pace of change of sentiment seen from not just companies but (also) from major macro-economies, I think there might be an outside chance that the Fed gives a more muted message in terms of growth and how aggressive it will be in terms of future rate hikes," he added. The spectre of a "dovish rate hike" kept the dollar in check. The euro traded slightly higher at $1.1355, after having gained 0.40 per cent on Monday. The greenback gave up 0.1 per cent against the Japanese yen to 112.70 yen, adding to Monday's fall of nearly half a per cent. The offshore Chinese yuan was slightly stronger at 6.8900 to the dollar. Investors are awaiting details of a speech by President Xi Jinping to mark the 40th anniversary of China's market reforms. China is also expected to hold its annual Central Economic Work Conference later this week, where key growth targets and policy goals for 2019 will be discussed. Oil prices extended losses on signs of oversupply in the United States and as investor sentiment remained under pressure from concern over global economic growth and fuel demand. US crude fell as low as $49.01 per barrel on Monday, its lowest since September last year and last stood at $49.37, down 1.0 per cent on the day. Brent crude oil futures lost 65 cents, or 1.1 percent, to $58.96 per barrel.

Asia stocks slide as global growth worries deepen

A local court has issued notices against Tata Sons former chairman Ratan Tata, present chairman N Chandrasekaran and eight directors of the group along with the group chief operating officer in a defamation complaint filed by Wadia group chairman Nusli Wadia. 
&nbsp; &nbsp;&nbsp; 
The notices were issued by the Esplanade court of Additional Chief &nbsp;Metropolitan Magistrate MI Lokwani last Saturday and posted the matter for further hearing on March 25, 2019. 
&nbsp; &nbsp;&nbsp; 
Wadia had recorded his statement on December 14. 
&nbsp; &nbsp;&nbsp; 
Apart from Tata and Chandrasekaran, the other respondents are Ajay Piramal, Amit Chandra, Ishaat Hussain, Nitin Nohria, Ranendra Sen, Vijay Singh, Venu Srinivasan, Ralf Speth and F N Subedar, the group chief operating officer. 
&nbsp; &nbsp;&nbsp; 
Wadia filed the complaint in 2016 after he was voted out of some of the group companies, where he was a board member, claiming that Tata and the others had made defamatory statements against him after they removed Cyrus Mistry on October 24, 2016 as the group chairman of Tata Sons. 
&nbsp; &nbsp;&nbsp; 
Wadia was on the boards of group companies like Indian Hotels Company that runs the Taj group of hotels, TCS, Tata Motors and Tata Steel among others as an independent director. He was voted out by shareholders at the specially convened general meeting between December 2016 and 
February 2017. 
&nbsp; &nbsp;&nbsp; 
Wadia's counsel Abad Ponda informed a metropolitan magistrate court that the accused persons had alleged that Wadia was acting in concert with Mistry, and thus against the interests of the Tata group as a whole. 
&nbsp; &nbsp;&nbsp; 
Wadia in his complaint claimed that he approached the court as he was not satisfied with the explanations the respondents had given him following his letters to them and his complaint seeks to initiate defamation proceedings against them under section 500 of IPC. 
&nbsp; &nbsp;&nbsp; 
The magistrate, however, refused to issue process (notice) to Tata Sons observing that it is a company and not an individual person. 
&nbsp; &nbsp;&nbsp; 
"It appears that complainant (Wadia) has made out a case against accused No 2 to 12 (Tata and others) but there is no such case made out against accused No 1 (Tata Sons) for the offence punishable under section 500. Hence issue process against accused No. 2 to 12," the magistrate said in his order. 
&nbsp; &nbsp;&nbsp; 
Meanwhile, a Tata Sons spokesperson said all due processes were followed in relation to Nusli Wadia's removal as independent director. 
&nbsp; &nbsp;&nbsp; 
"Tata Sons had, in exercise of its statutory rights, validly issued a 'Special Notice' seeking his removal. While Wadia has alleged that the contents of the Special Notice were defamatory, the matter is currently sub judice and Tata Sons strongly deny such allegations," the statement said.

A local court has issued notices against Tata Sons former chairman Ratan Tata, present chairman N Chandrasekaran and eight directors of the group along with the group chief operating officer in a defamation complaint filed by Wadia group chairman Nusli Wadia.

A local court has issued notices against Tata Sons former chairman Ratan Tata, present chairman N Chandrasekaran and eight directors of the group along with the group chief operating officer in a defamation complaint filed by Wadia group chairman Nusli Wadia. The notices were issued by the Esplanade court of Additional Chief Metropolitan Magistrate MI Lokwani last Saturday and posted the matter for further hearing on March 25, 2019. Wadia had recorded his statement on December 14. Apart from Tata and Chandrasekaran, the other respondents are Ajay Piramal, Amit Chandra, Ishaat Hussain, Nitin Nohria, Ranendra Sen, Vijay Singh, Venu Srinivasan, Ralf Speth and F N Subedar, the group chief operating officer. Wadia filed the complaint in 2016 after he was voted out of some of the group companies, where he was a board member, claiming that Tata and the others had made defamatory statements against him after they removed Cyrus Mistry on October 24, 2016 as the group chairman of Tata Sons. Wadia was on the boards of group companies like Indian Hotels Company that runs the Taj group of hotels, TCS, Tata Motors and Tata Steel among others as an independent director. He was voted out by shareholders at the specially convened general meeting between December 2016 and February 2017. Wadia's counsel Abad Ponda informed a metropolitan magistrate court that the accused persons had alleged that Wadia was acting in concert with Mistry, and thus against the interests of the Tata group as a whole. Wadia in his complaint claimed that he approached the court as he was not satisfied with the explanations the respondents had given him following his letters to them and his complaint seeks to initiate defamation proceedings against them under section 500 of IPC. The magistrate, however, refused to issue process (notice) to Tata Sons observing that it is a company and not an individual person. "It appears that complainant (Wadia) has made out a case against accused No 2 to 12 (Tata and others) but there is no such case made out against accused No 1 (Tata Sons) for the offence punishable under section 500. Hence issue process against accused No. 2 to 12," the magistrate said in his order. Meanwhile, a Tata Sons spokesperson said all due processes were followed in relation to Nusli Wadia's removal as independent director. "Tata Sons had, in exercise of its statutory rights, validly issued a 'Special Notice' seeking his removal. While Wadia has alleged that the contents of the Special Notice were defamatory, the matter is currently sub judice and Tata Sons strongly deny such allegations," the statement said.

Nusli Wadia defamation case: Court issues notices to Ratan Tata and 9 Tata Sons directors

The rupee appreciated 37 paise to 71.19 against the US dollar in early trade at the interbank foreign exchange Tuesday after crude prices fell to a 14-month low level in the international market.

The rise in the rupee was also<a href="http://www.wionews.com/business-economy/rupee-rises-16-paise-to-7174-against-us-dollar-184763"> supported by dollar-selling by exporters</a> and banks and the US unit's weakness against some currencies overseas ahead of US Federal Reserve Monetary policy decision Wednesday, traders said. 
At the interbank forex market, the rupee commenced with strength at 71.34 and appreciated further to quote 37 paise higher at 71.19 against the US dollar.

The<a href="http://www.wionews.com/business-economy/rupee-gains-34-paise-higher-at-7156-against-us-dollar-184873"> rupee had gained 34 paise</a> to close at 71.56 against the US dollar Monday as forex market sentiments were driven by the country's narrowing trade deficit in November as also smart gains in domestic equities.

Brent crude, the international benchmark, dropped by 1.22 per cent to a 14-month low of USD 58.85 barrel.

The US Federal Reserve's policy decision is expected on December 19, and the market is expecting another rate hike, traders said.

However, a lower opening in the domestic equity market capped the gain in the domestic currency.

The benchmark BSE Sensex fell by 170.50 points, 0.47 per cent, to 36,099.57 in early trade.&nbsp;

The rupee appreciated 37 paise to 71.19 against the US dollar in early trade at the interbank foreign exchange Tuesday after crude prices fell to a 14-month low level in the international market.

The rupee appreciated 37 paise to 71.19 against the US dollar in early trade at the interbank foreign exchange Tuesday after crude prices fell to a 14-month low level in the international market. The rise in the rupee was also supported by dollar-selling by exporters and banks and the US unit's weakness against some currencies overseas ahead of US Federal Reserve Monetary policy decision Wednesday, traders said. At the interbank forex market, the rupee commenced with strength at 71.34 and appreciated further to quote 37 paise higher at 71.19 against the US dollar. The rupee had gained 34 paise to close at 71.56 against the US dollar Monday as forex market sentiments were driven by the country's narrowing trade deficit in November as also smart gains in domestic equities. Brent crude, the international benchmark, dropped by 1.22 per cent to a 14-month low of USD 58.85 barrel. The US Federal Reserve's policy decision is expected on December 19, and the market is expecting another rate hike, traders said. However, a lower opening in the domestic equity market capped the gain in the domestic currency. The benchmark BSE Sensex fell by 170.50 points, 0.47 per cent, to 36,099.57 in early trade.

Rupee rises 37 paise to 71.19 against US dollar on falling crude prices

Twitter shares fell almost 7 per cent after the company said it was investigating unusual traffic that might be from state-sponsored hackers and, in what appeared to be an unrelated issue, a security firm said hackers used the platform to try to steal user data.

<a href="http://www.wionews.com/business-economy/wall-street-stocks-crash-dow-sp-fall-over-2-per-cent-184917">Also read:&nbsp;Wall Street stocks crash; Dow, S&amp;P fall over 2 per cent</a>

Twitter said in a blog that it discovered suspicious traffic to a customer-support forum while investigating a security bug that exposed data, including users' phone country codes and details on locked accounts. It said the bug was fixed November 16.

Twitter observed a large amount of traffic to the customer support site coming from individual internet IP addresses in China and Saudi Arabia.

"While we cannot confirm intent or attribution for certain, it is possible that some of these IP addresses may have ties to state-sponsored actors," the blog said.

"We continue to err on the side of full transparency in this area and have updated law enforcement on our findings," it said.

A company spokesman declined to elaborate as Twitter shares posted their biggest drop in more than two months.

Wedbush analyst Michael Pachter blamed the decline on concerns that news of a breach could hurt growth and user engagement.

"Clearly, a breach like this impairs user trust in the platform," he said.

Separately, security software maker Trend Micro Inc said in a blog earlier on Monday that attackers sent out two tweets in October in a bid to steal data from previously infected machines.

The hackers hid instructions in tweeted memes that secretly ordered infected devices to send information, including usernames, screen images and other content, Trend Micro said.

The Twitter spokesman declined to comment on the Trend Micro report.

Twitter shares fell almost 7 per cent after the company said it was investigating unusual traffic that might be from state-sponsored hackers and, in what appeared to be an unrelated issue, a security firm said hackers used the platform to try to steal user data.

Twitter shares fell almost 7 per cent after the company said it was investigating unusual traffic that might be from state-sponsored hackers and, in what appeared to be an unrelated issue, a security firm said hackers used the platform to try to steal user data. Also read: Wall Street stocks crash; Dow, S&P fall over 2 per cent Twitter said in a blog that it discovered suspicious traffic to a customer-support forum while investigating a security bug that exposed data, including users' phone country codes and details on locked accounts. It said the bug was fixed November 16. Twitter observed a large amount of traffic to the customer support site coming from individual internet IP addresses in China and Saudi Arabia. "While we cannot confirm intent or attribution for certain, it is possible that some of these IP addresses may have ties to state-sponsored actors," the blog said. "We continue to err on the side of full transparency in this area and have updated law enforcement on our findings," it said. A company spokesman declined to elaborate as Twitter shares posted their biggest drop in more than two months. Wedbush analyst Michael Pachter blamed the decline on concerns that news of a breach could hurt growth and user engagement. "Clearly, a breach like this impairs user trust in the platform," he said. Separately, security software maker Trend Micro Inc said in a blog earlier on Monday that attackers sent out two tweets in October in a bid to steal data from previously infected machines. The hackers hid instructions in tweeted memes that secretly ordered infected devices to send information, including usernames, screen images and other content, Trend Micro said. The Twitter spokesman declined to comment on the Trend Micro report.

Twitter shares fell 7 per cent on concerns about hacking activity

<a href="http://www.wionews.com/world/google-launches-artificial-intelligence-programme-in-thailand-to-screen-for-diabetic-eye-disease-183888">Google is investing</a> more than $1 billion on a new campus in New York, becoming the second major technology company after Amazon to pick America's financial capital to expand and create thousands of jobs.

The 1.7 million-square-foot campus, called Google Hudson Square, will include leased properties at Hudson Street and Washington Street, the company said in a blog post on Monday. The new campus will be the main location for Google's advertising sales division, the Global Business Organization.

Google hopes to start moving into two Hudson Street buildings by 2020, followed by a Washington Street in 2022 and will have the capacity to more than double its New York headcount, currently more than 7,000, in the next 10 years.

The company's plans to invest outside its home base mirror those of other US tech giants such as Apple, which said last week it would spend $1 billion to build a new 133-acre campus in Austin, Texas.

Last month, Amazon said it would open offices in New York and the Washington, DC area, creating more than 25,000 jobs.

Mountain View, California-based Google's move to invest in prime real estate on the lower west side of Manhattan also underscores the growing importance of New York as a hub for innovation and an incubator for technology companies.

With a plethora of white-collar workers and good infrastructure, the city provides a better option to other places that would require more investment.

"We're growing faster outside the Bay Area than within it," said Ruth Porat, chief financial officer of Alphabet and Google.

It is a "fairly sensible" move for Google given the amount of available talent pool, Atlantic Equities analyst James Cordwell said.

It also makes sense for Google as New York has been the centre for their core advertising business, Cordwell added.

US corporations are also under pressure from the Trump administration to create more jobs domestically. Companies that have moved jobs overseas or closed factories have drawn sharp rebukes from <a href="http://www.wionews.com/world/standoff-over-trump-wall-leaves-us-govt-5-days-away-from-shutdown-184833">President Donald Trump</a>.

The Wall Street Journal reported last month that Google was nearing a deal to buy or lease an office building in New York City that could add space for more than 12,000 new workers.

Google's first New York office at 111 Eighth Avenue is one of the city's largest buildings that it bought in 2010 for $1.77 billion.

Earlier this year, the company announced a $2.4 billion purchase of the Manhattan Chelsea Market. It also has leased space on Pier 57 jutting into the Hudson, which will create a four-block campus.

Google shares were down 1.7 per cent at $1,032.84 amid a broader market sell-off.

Google is investing more than $1 billion on a new campus in New York, becoming the second major technology company after Amazon to pick America's financial capital to expand and create thousands of jobs.

Google is investing more than $1 billion on a new campus in New York, becoming the second major technology company after Amazon to pick America's financial capital to expand and create thousands of jobs. The 1.7 million-square-foot campus, called Google Hudson Square, will include leased properties at Hudson Street and Washington Street, the company said in a blog post on Monday. The new campus will be the main location for Google's advertising sales division, the Global Business Organization. Google hopes to start moving into two Hudson Street buildings by 2020, followed by a Washington Street in 2022 and will have the capacity to more than double its New York headcount, currently more than 7,000, in the next 10 years. The company's plans to invest outside its home base mirror those of other US tech giants such as Apple, which said last week it would spend $1 billion to build a new 133-acre campus in Austin, Texas. Last month, Amazon said it would open offices in New York and the Washington, DC area, creating more than 25,000 jobs. Mountain View, California-based Google's move to invest in prime real estate on the lower west side of Manhattan also underscores the growing importance of New York as a hub for innovation and an incubator for technology companies. With a plethora of white-collar workers and good infrastructure, the city provides a better option to other places that would require more investment. "We're growing faster outside the Bay Area than within it," said Ruth Porat, chief financial officer of Alphabet and Google. It is a "fairly sensible" move for Google given the amount of available talent pool, Atlantic Equities analyst James Cordwell said. It also makes sense for Google as New York has been the centre for their core advertising business, Cordwell added. US corporations are also under pressure from the Trump administration to create more jobs domestically. Companies that have moved jobs overseas or closed factories have drawn sharp rebukes from President Donald Trump. The Wall Street Journal reported last month that Google was nearing a deal to buy or lease an office building in New York City that could add space for more than 12,000 new workers. Google's first New York office at 111 Eighth Avenue is one of the city's largest buildings that it bought in 2010 for $1.77 billion. Earlier this year, the company announced a $2.4 billion purchase of the Manhattan Chelsea Market. It also has leased space on Pier 57 jutting into the Hudson, which will create a four-block campus. Google shares were down 1.7 per cent at $1,032.84 amid a broader market sell-off.

Google to invest over $1 billion on new campus in New York

US President Donald Trump lambasted the <a href="http://www.wionews.com/business-economy/wall-street-rises-on-trade-hopes-sp-nasdaq-post-best-weeks-in-seven-years-180612">Federal Reserve again, calling</a> on the central bank not to raise interest rates a day before policymakers are due to meet. Markets widely expect the Fed to ignore the political pressure and announce its fourth rate hike of 2018.

With a volatile year drawing to a close, major US stock indices touched new lows while one fell into a "bear market" - a potentially ominous moment when prices fall 20 per cent from a recent peak.

Prominent US investor Jeffrey Gundlach touched off more bloodletting around midday after telling CNBC US equities probably were already in bear market territory.

The Dow Jones Industrial Average and S&amp;P 500 both fell 2.1 per cent while the tech-heavy Nasdaq fell 2.3 per cent, with the latter two hitting new lows for the year.

The Nasdaq is now 16.7 per cent below its August peak, inching toward a bear market as well.

Quincy Krosby of Prudential Financial told AFP the S&amp;P 500 was approaching key technical levels that could trigger automated selling.

"Gundlach is considered an excellent manager," Krosby said. "He said that this market looked like a bear market and perhaps it would go lower."

Economic data released early Monday added to the growth concerns: a survey of manufacturing activity in the New York region showed an unexpected plunge while an index of sentiment among homebuilders also fell sharply.

And on Friday, a batch of dispiriting economic data from China added to Wall Street's jitters.

"This is the extension of everything that has bothered the markets for the last several weeks. The US economic news added to the selloff," said Karl Haeling of LBBW told AFP.

Earlier on Monday, major European stock markets also fell. London, already beset with Brexit concerns, took an additional knock after British online fashion retailer ASOS issued a profit warning.

London's blue-chip FTSE 100 fell 1.1 per cent, as did the CAC 40 in Paris, while the DAX 30 in Frankfurt shed 0.9 per cent.&nbsp;

The Bank of England will follow the US Fed on Thursday with its latest monetary policy decision.

ASOS chief executive Nick Beighton said November had been the "most difficult month relative to expectations for five years." He blamed Brexit, weak consumer confidence and deep price discounting for the shock warning.

The news sparked alarm among retailers already struggling with sales in their physical stores.

As a result, shares in British clothing group Next sank 4.9 per cent while bellwether Marks &amp; Spencer fell 4.6 per cent.

"Looking more broadly this is also a potential warning sign for online retailers who have hitherto held up relatively well compared to traditional High Street chains in what has no doubt been a challenging year for the sector," said David Cheetham, chief market analyst at XTB online trading firm.

Asian stock markets meanwhile mostly closed higher Monday as traders looked ahead to the Fed and a Chinese economic policy-setting conference this week.

US President Donald Trump lambasted the Federal Reserve again, calling on the central bank not to raise interest rates a day before policymakers are due to meet.

US President Donald Trump lambasted the Federal Reserve again, calling on the central bank not to raise interest rates a day before policymakers are due to meet. Markets widely expect the Fed to ignore the political pressure and announce its fourth rate hike of 2018. With a volatile year drawing to a close, major US stock indices touched new lows while one fell into a "bear market" - a potentially ominous moment when prices fall 20 per cent from a recent peak. Prominent US investor Jeffrey Gundlach touched off more bloodletting around midday after telling CNBC US equities probably were already in bear market territory. The Dow Jones Industrial Average and S&P 500 both fell 2.1 per cent while the tech-heavy Nasdaq fell 2.3 per cent, with the latter two hitting new lows for the year. The Nasdaq is now 16.7 per cent below its August peak, inching toward a bear market as well. Quincy Krosby of Prudential Financial told AFP the S&P 500 was approaching key technical levels that could trigger automated selling. "Gundlach is considered an excellent manager," Krosby said. "He said that this market looked like a bear market and perhaps it would go lower." Economic data released early Monday added to the growth concerns: a survey of manufacturing activity in the New York region showed an unexpected plunge while an index of sentiment among homebuilders also fell sharply. And on Friday, a batch of dispiriting economic data from China added to Wall Street's jitters. "This is the extension of everything that has bothered the markets for the last several weeks. The US economic news added to the selloff," said Karl Haeling of LBBW told AFP. Earlier on Monday, major European stock markets also fell. London, already beset with Brexit concerns, took an additional knock after British online fashion retailer ASOS issued a profit warning. London's blue-chip FTSE 100 fell 1.1 per cent, as did the CAC 40 in Paris, while the DAX 30 in Frankfurt shed 0.9 per cent. The Bank of England will follow the US Fed on Thursday with its latest monetary policy decision. ASOS chief executive Nick Beighton said November had been the "most difficult month relative to expectations for five years." He blamed Brexit, weak consumer confidence and deep price discounting for the shock warning. The news sparked alarm among retailers already struggling with sales in their physical stores. As a result, shares in British clothing group Next sank 4.9 per cent while bellwether Marks & Spencer fell 4.6 per cent. "Looking more broadly this is also a potential warning sign for online retailers who have hitherto held up relatively well compared to traditional High Street chains in what has no doubt been a challenging year for the sector," said David Cheetham, chief market analyst at XTB online trading firm. Asian stock markets meanwhile mostly closed higher Monday as traders looked ahead to the Fed and a Chinese economic policy-setting conference this week.

Wall Street stocks crash; Dow, S&P fall over 2 per cent

Markets on Tuesday ended on a positive note with BSE Sensex rising 77.01 points to close at 36,347.08. Nifty gained 20.35 points to end at 10,908.70.&nbsp;

In early trade on Tuesday morning, Sensex dropped 141 points and broke its five-day winning streak.&nbsp;

The 30-share index dropped 140.51 points, or 0.40 per cent, to 36,129.56 points in opening trade. The gauge had rallied over 1,310 points in the previous five sessions, news agency PTI reported.&nbsp;

The NSE Nifty too fell 47.50 points, or 0.44 per cent, to 10,840.85.

Brokers said, the decline in benchmark indices was on account of a weak trend in Asian markets amid sharp losses at the Wall Street, as investors continued to fear the weakening of global growth. Besides, profit-booking in recent gainers also dampened investor sentiment here.

(With inputs from PTI)&nbsp; 
&nbsp;

Markets on Tuesday ended on a positive note with BSE Sensex rising 77.01 points to close at 36,347.08. Nifty gained 20.35 points to end at 10,908.70. In early trade on Tuesday morning, Sensex dropped 141 points and broke its five-day winning streak.

Markets on Tuesday ended on a positive note with BSE Sensex rising 77.01 points to close at 36,347.08. Nifty gained 20.35 points to end at 10,908.70. In early trade on Tuesday morning, Sensex dropped 141 points and broke its five-day winning streak. The 30-share index dropped 140.51 points, or 0.40 per cent, to 36,129.56 points in opening trade. The gauge had rallied over 1,310 points in the previous five sessions, news agency PTI reported. The NSE Nifty too fell 47.50 points, or 0.44 per cent, to 10,840.85. Brokers said, the decline in benchmark indices was on account of a weak trend in Asian markets amid sharp losses at the Wall Street, as investors continued to fear the weakening of global growth. Besides, profit-booking in recent gainers also dampened investor sentiment here. (With inputs from PTI)

Markets close in green, Sensex rises 77 points 

Switzerland's competition commission (WEKO) on Tuesday said Apple Inc has agreed to make a technical fix to prevent the automatic launch of its Apple Pay from disrupting rival Swiss payment app TWINT.

"Apple has committed to provide TWINT with the technical capability to suppress the automatic launch of Apple Pay during the payment process with the TWINT app," WEKO said, adding it was ending a preliminary probe against Apple following the pact.

In a separate case, WEKO is investigating Swiss financial companies including Credit Suisse and UBS over a suspected boycott of mobile payment solutions such as Apple Pay and Samsung Pay.

Switzerland's competition commission (WEKO) on Tuesday said Apple Inc has agreed to make a technical fix to prevent the automatic launch of its Apple Pay from disrupting rival Swiss payment app TWINT.

Switzerland's competition commission (WEKO) on Tuesday said Apple Inc has agreed to make a technical fix to prevent the automatic launch of its Apple Pay from disrupting rival Swiss payment app TWINT. "Apple has committed to provide TWINT with the technical capability to suppress the automatic launch of Apple Pay during the payment process with the TWINT app," WEKO said, adding it was ending a preliminary probe against Apple following the pact. In a separate case, WEKO is investigating Swiss financial companies including Credit Suisse and UBS over a suspected boycott of mobile payment solutions such as Apple Pay and Samsung Pay.

Apple pledges to fix disruptions to rival payment app TWINT: Switzerland

<a href="http://www.wionews.com/india-news/gold-prices-inch-higher-as-dollar-softens-183092">Gold&nbsp;prices</a> inched lower on Monday, as the dollar held firm below a 19-month peak on safe-haven demand amid concerns of a global economic slowdown, and as investors awaited cues on US interest rate hikes from a Federal Reserve meeting later this week.

Spot&nbsp;gold&nbsp;was down 0.1 per cent at $1,237.51 per ounce, as of 0401 GMT, after having hit its lowest since December 4 at $1,232.39 on Friday.

US&nbsp;gold&nbsp;futures were little changed at $1,241.3 per ounce.

Gold&nbsp;has not recovered yet from Friday's decline, said analyst Helen Lau of Argonaut Securities, adding that prices were moving on the strong dollar over the weekend.

Weaker-than-expected economic data out of China and Europe and fears of a possible US&nbsp;government shutdown enhanced appeal for the US&nbsp;currency, which has played the role of a safe-haven asset in recent times.&nbsp;

The dollar index, which measures the greenback against other major currencies, was just below the 19-month high of 97.71 hit on Friday.

Markets will closely watch the future trajectory of US&nbsp;monetary policy at the Federal Reserve's Dec. The 18-19 meeting where the board is set to raise interest rates by 25 basis points.

"Markets will rally on the back of dollar weakness after the central bank signals a more dovish stance, but the advance will fall back quickly as global growth concerns reassert themselves," INTL FCStone analyst Edward Meir said in a note.

Lower interest rates reduce the opportunity cost of holding non-yielding bullion and weigh on the dollar.

Spot&nbsp;gold&nbsp;is biased to break a support at $1,232 per ounce, and fall to a lower support zone of $1,224-$1,228, according to Reuters technical analyst Wang Tao.

Meanwhile, hedge funds and money managers switched to the net long position in Comex&nbsp;gold&nbsp;in the week to December 11, the US&nbsp;Commodity Futures Trading Commission (CFTC) said on Friday.&nbsp;

This was the first time&nbsp;gold&nbsp;speculators held a net long position since July and the strongest since June.

"Uncertainties of the trade war are still weighing on the market," said Dick Poon, general manager, Heraeus Metals Hong Kong Ltd.

"It is getting close to Christmas time, so it is getting super quiet in the market. Investors reduce their inventories as much as possible before the year ends."

Among other precious metals, spot palladium gained to $1,238.20 per ounce.

Silver declined marginally to $14.56 per ounce, while platinum fell 0.6 per cent to $782.50 per ounce.

Gold prices inched lower on Monday, as the dollar held firm below a 19-month peak on safe-haven demand amid concerns of a global economic slowdown, and as investors awaited cues on US interest rate hikes from a Federal Reserve meeting later this week.

Gold prices inched lower on Monday, as the dollar held firm below a 19-month peak on safe-haven demand amid concerns of a global economic slowdown, and as investors awaited cues on US interest rate hikes from a Federal Reserve meeting later this week. Spot gold was down 0.1 per cent at $1,237.51 per ounce, as of 0401 GMT, after having hit its lowest since December 4 at $1,232.39 on Friday. US gold futures were little changed at $1,241.3 per ounce. Gold has not recovered yet from Friday's decline, said analyst Helen Lau of Argonaut Securities, adding that prices were moving on the strong dollar over the weekend. Weaker-than-expected economic data out of China and Europe and fears of a possible US government shutdown enhanced appeal for the US currency, which has played the role of a safe-haven asset in recent times. The dollar index, which measures the greenback against other major currencies, was just below the 19-month high of 97.71 hit on Friday. Markets will closely watch the future trajectory of US monetary policy at the Federal Reserve's Dec. The 18-19 meeting where the board is set to raise interest rates by 25 basis points. "Markets will rally on the back of dollar weakness after the central bank signals a more dovish stance, but the advance will fall back quickly as global growth concerns reassert themselves," INTL FCStone analyst Edward Meir said in a note. Lower interest rates reduce the opportunity cost of holding non-yielding bullion and weigh on the dollar. Spot gold is biased to break a support at $1,232 per ounce, and fall to a lower support zone of $1,224-$1,228, according to Reuters technical analyst Wang Tao. Meanwhile, hedge funds and money managers switched to the net long position in Comex gold in the week to December 11, the US Commodity Futures Trading Commission (CFTC) said on Friday. This was the first time gold speculators held a net long position since July and the strongest since June. "Uncertainties of the trade war are still weighing on the market," said Dick Poon, general manager, Heraeus Metals Hong Kong Ltd. "It is getting close to Christmas time, so it is getting super quiet in the market. Investors reduce their inventories as much as possible before the year ends." Among other precious metals, spot palladium gained to $1,238.20 per ounce. Silver declined marginally to $14.56 per ounce, while platinum fell 0.6 per cent to $782.50 per ounce.

Firm dollar weighs on gold amid global growth risks

Oil prices were largely steady on Monday after falling 2 per cent in the previous session but remained under pressure amid weaker growth in major economies and concerns about oversupply.

International Brent crude oil futures were at $60.33 per barrel at 0423 GMT, up 5 cents, or 0.08 per cent, from their last close.

US West Texas Intermediate (WTI) crude futures were at $51.33 per barrel, up 13 cents, or 0.25 per cent.

Persistent growth in US shale output continues to weigh on oil prices, while some analysts doubted that planned supply cuts led by the Organization of the Petroleum Exporting Countries would be enough to rebalance markets.

"I don't believe OPEC cuts will work this time around with Qatar going out and Iran refusing to cut, while there's a big question mark when Russia will go to its agreed level," said Sukrit Vijayakar, director of oil consultancy Trifecta.

"Meanwhile, US production will go on increasing. So the whole load will effectively be on Saudi Arabia, who is under severe pressure from Trump anyway."

OPEC and its Russia-led allies have agreed to curb output from January, in a move to be reviewed at a meeting in April. Saudi Arabia is OPEC's de facto leader.

Meanwhile, increasing concerns about weakening growth in major markets such as China and Europe also dampened the mood in oil and other asset classes.

Chinese oil refinery throughput in November fell from October, suggesting an easing in oil demand, while the country's industrial output rose the least in nearly three years as the economy continued to lose momentum.

French business activity plunged unexpectedly into contraction this month, retreating at the fastest pace in over four years, while Germany's private sector expansion slowed to a four-year low in December.

But oil prices were supported after General Electric Co's Baker Hughes energy services firm said on Friday that US drillers cut four oil rigs in the week to December 14, pulling the total count to the lowest since mid-October at 873.

However, the current US rig count, which serves as an early indicator of future output, is higher than a year ago when 747 rigs were active.

"The potential for a significant movement in the US dollar clearly has an impact on oil pricing with the Fed meeting (this week)," said Michael McCarthy, chief markets strategist at CMC Markets.

"We're looking outside the oil markets for its next major move."

The US Federal Open Market Committee (FOMC) is set to start a two-day meeting on Tuesday.

Oil prices were largely steady on Monday after falling 2 per cent in the previous session but remained under pressure amid weaker growth in major economies and concerns about oversupply.

Oil prices were largely steady on Monday after falling 2 per cent in the previous session but remained under pressure amid weaker growth in major economies and concerns about oversupply. International Brent crude oil futures were at $60.33 per barrel at 0423 GMT, up 5 cents, or 0.08 per cent, from their last close. US West Texas Intermediate (WTI) crude futures were at $51.33 per barrel, up 13 cents, or 0.25 per cent. Persistent growth in US shale output continues to weigh on oil prices, while some analysts doubted that planned supply cuts led by the Organization of the Petroleum Exporting Countries would be enough to rebalance markets. "I don't believe OPEC cuts will work this time around with Qatar going out and Iran refusing to cut, while there's a big question mark when Russia will go to its agreed level," said Sukrit Vijayakar, director of oil consultancy Trifecta. "Meanwhile, US production will go on increasing. So the whole load will effectively be on Saudi Arabia, who is under severe pressure from Trump anyway." OPEC and its Russia-led allies have agreed to curb output from January, in a move to be reviewed at a meeting in April. Saudi Arabia is OPEC's de facto leader. Meanwhile, increasing concerns about weakening growth in major markets such as China and Europe also dampened the mood in oil and other asset classes. Chinese oil refinery throughput in November fell from October, suggesting an easing in oil demand, while the country's industrial output rose the least in nearly three years as the economy continued to lose momentum. French business activity plunged unexpectedly into contraction this month, retreating at the fastest pace in over four years, while Germany's private sector expansion slowed to a four-year low in December. But oil prices were supported after General Electric Co's Baker Hughes energy services firm said on Friday that US drillers cut four oil rigs in the week to December 14, pulling the total count to the lowest since mid-October at 873. However, the current US rig count, which serves as an early indicator of future output, is higher than a year ago when 747 rigs were active. "The potential for a significant movement in the US dollar clearly has an impact on oil pricing with the Fed meeting (this week)," said Michael McCarthy, chief markets strategist at CMC Markets. "We're looking outside the oil markets for its next major move." The US Federal Open Market Committee (FOMC) is set to start a two-day meeting on Tuesday.

Oil prices pressured by oversupply, global economic concerns

Asian markets mostly rose Monday as traders look ahead to a key meeting of the Federal Reserve, and a Chinese policy-setting conference this week.

However, there is still caution on trading floors after Friday's sharp sell-off fuelled by concerns over China's economy, and despite a tweet from Donald Trump suggesting a trade deal could be hammered out between Washington and Beijing.

While there are signs the world's top two economies are beginning to move towards a resolution in their bitter tariffs spat, there are increasing concerns about the global outlook following another dour set of indicators out of China.

A string of below-par readings this year have highlighted a slowdown in the Asian giant and observers are forecasting leaders will unveil fresh measures to pep up the economy, which is on course for another year of relatively weak growth.

A speech from President Xi Jinping to mark 40 years since China's economy began opening up will be closely followed Tuesday, and that is expected to be followed by a start of a conference setting out the country's 2019 economic plan.&nbsp;&nbsp; &nbsp;

"We should expect a raft of stimulus measures from China policymakers in an attempt to stabilise the domestic economy," said Stephen Innes, head of Asia-Pacific trade at OANDA.

The Fed will conclude its rate-setting policy meeting Wednesday and while expectations are for another hike in borrowing costs, comments from chairman Jerome Powell will be closely watched for an idea of its plans for 2019.

In light of the China-US trade row and signs of weakness in the global economy, the bank has sounded a little more dovish in recent weeks, fuelling speculation it will slow down its pace of rate hikes -- which has provided some much-needed support to equities.

"The upcoming (Fed) meeting and China's policy-setting meeting, have been the most actively discussed topics around the markets," Innes added.&nbsp; 
"And both events have a smoothing effect on risk sentiment."&nbsp;

In early business, Hong rose 0.2 per cent, Shanghai edged up 0.1 per cent and Tokyo finished the morning 0.8 per cent higher while Sydney put on 0.5 per cent and Singapore jumped 1.3 per cent.

Seoul added 0.2 per cent and Taipei gained 0.3 per cent but Wellington lost 0.3 per cent.

Steve Goldman, fund manager at Kapstream Capital, told Bloomberg TV in Sydney that "we're going to see a lot of volatility" in the new year because of global uncertainty.

Hopes that China and the US can reach a deal to end their trade war were given a boost by Trump Friday, when he tweeted: "China wants to make a big and very comprehensive deal. It could happen, and rather soon!"&nbsp;

That came after China earlier in the day backed off fresh levies imposed this summer on US-made cars and auto parts.

While a full-blown deal is some way off, the developments have provided some hope to dealers.

On currency markets the pound remains bogged down around 20-month lows as Prime Minister Theresa May struggles to win concessions from EU leaders over her

Brexit agreement, which a majority of lawmakers in Westminster oppose.

Facing growing calls for another referendum to break the deadlock, May is expected to tell MPs that such a move will do "irreparable damage" to British politics.

However, with her agreement all but dead in the water, there is a growing expectation Britain will leave the EU without a deal, which commentators warn could hammer the British economy.

Asian markets mostly rose Monday as traders look ahead to a key meeting of the Federal Reserve, and a Chinese policy-setting conference this week. However, there is still caution on trading floors after Friday's sharp sell-off fuelled by concerns over China's economy, and despite a tweet from Donald Trump suggesting a trade deal could be hammered out between Washington and Beijing.

Asian markets mostly rose Monday as traders look ahead to a key meeting of the Federal Reserve, and a Chinese policy-setting conference this week. However, there is still caution on trading floors after Friday's sharp sell-off fuelled by concerns over China's economy, and despite a tweet from Donald Trump suggesting a trade deal could be hammered out between Washington and Beijing. While there are signs the world's top two economies are beginning to move towards a resolution in their bitter tariffs spat, there are increasing concerns about the global outlook following another dour set of indicators out of China. A string of below-par readings this year have highlighted a slowdown in the Asian giant and observers are forecasting leaders will unveil fresh measures to pep up the economy, which is on course for another year of relatively weak growth. A speech from President Xi Jinping to mark 40 years since China's economy began opening up will be closely followed Tuesday, and that is expected to be followed by a start of a conference setting out the country's 2019 economic plan. "We should expect a raft of stimulus measures from China policymakers in an attempt to stabilise the domestic economy," said Stephen Innes, head of Asia-Pacific trade at OANDA. The Fed will conclude its rate-setting policy meeting Wednesday and while expectations are for another hike in borrowing costs, comments from chairman Jerome Powell will be closely watched for an idea of its plans for 2019. In light of the China-US trade row and signs of weakness in the global economy, the bank has sounded a little more dovish in recent weeks, fuelling speculation it will slow down its pace of rate hikes -- which has provided some much-needed support to equities. "The upcoming (Fed) meeting and China's policy-setting meeting, have been the most actively discussed topics around the markets," Innes added. "And both events have a smoothing effect on risk sentiment." In early business, Hong rose 0.2 per cent, Shanghai edged up 0.1 per cent and Tokyo finished the morning 0.8 per cent higher while Sydney put on 0.5 per cent and Singapore jumped 1.3 per cent. Seoul added 0.2 per cent and Taipei gained 0.3 per cent but Wellington lost 0.3 per cent. Steve Goldman, fund manager at Kapstream Capital, told Bloomberg TV in Sydney that "we're going to see a lot of volatility" in the new year because of global uncertainty. Hopes that China and the US can reach a deal to end their trade war were given a boost by Trump Friday, when he tweeted: "China wants to make a big and very comprehensive deal. It could happen, and rather soon!" That came after China earlier in the day backed off fresh levies imposed this summer on US-made cars and auto parts. While a full-blown deal is some way off, the developments have provided some hope to dealers. On currency markets the pound remains bogged down around 20-month lows as Prime Minister Theresa May struggles to win concessions from EU leaders over her Brexit agreement, which a majority of lawmakers in Westminster oppose. Facing growing calls for another referendum to break the deadlock, May is expected to tell MPs that such a move will do "irreparable damage" to British politics. However, with her agreement all but dead in the water, there is a growing expectation Britain will leave the EU without a deal, which commentators warn could hammer the British economy.

Asian markets mostly up ahead of key meetings in China and US