Let’s take a quick look at today's market updates. Asian markets are mostly in positive territory, recovering from the previous session’s sell-off. Watch WION to know more.

Volatility to persist until Fed's policy decision: Experts

What was big in the 1990s, collapsed in the late 2000s, but staged a surprise resurgence after many years of absence? Interest rates. Central banks are looking back to the 1990s as they face the question of how far and fast rates need to fall. And not everyone is reaching the same conclusion. This next report aims to understand what to watch in the week ahead.

How far and fast interest rates need to fall?

Week ahead: Back to the 90s?

For the first time since 2014, the united states has overtaken china as Germany's biggest trading partner, signifying a shift in global trade dynamics.

US Overtakes China as Germany's top trade partner

Hong Kong is implementing new standards to improve the housing market. The new regulations are set to directly affect the country’s subdivided flats.

Hong Kong proposes new standards for subdivided flats

Global markets are poised to react to several key economic indicators and events across major regions.

What will move markets this week?

Now, we look at the growing interest in initial public offerings (IPOs) in India. With new stocks outperforming the broader market and listings overseas, retail investors are likely to keep pouring money into Indian IPOs this year.

Average gain of India's IPO debuts surpasses Asian peers

As investors considered the prospect of a second Trump presidency following last week's debate with Joe Biden, the dollar strengthened... And Asian markets fluctuated in a narrow range.

Asian stocks see-saw in a tight range

Now, let's look at the record bull run in the Indian stock market. Benchmark indices closed the first day of July at a fresh all-time level after new records and milestones in June. Investors will keep an eye to see if Indian shares can rally on Tuesday to new milestones.

Indian stocks eye new milestones

Tuesday marked another day of records for Indian stocks after last week's rally, and the country's benchmark indices' market value was above $5 trillion.

Indian stocks hit fresh all-time highs on Tuesday.

With global cues pointing to more gains for record-high Indian stocks, traders came out all guns blazing after the market holiday on Monday on account of Eid Al Adha.

On Tuesday, the blue-chip Sensex opened at a new record high of 77,235 and rose further to a new all-time intra-day high of 77,367.

The broader Nifty 50 index started at a life high of 23,571 and jumped to a record of 23,574.

Investors will see if the Nifty can extend its gains this week.

Market value and trading volumes will also be in focus this week.

Last week, the country's stock market became a part of the exclusive $5 trillion club of the United States, China, Japan, and Hong Kong.

It took India about six months to add the latest $1 trillion to the market value of companies listed.

The fact that millions of young Indians have flocked to stock investing is a defining characteristic of gains in the last several years.

The entire record rush is fueled by domestic investors, with foreign entities staying on the sidelines.

Record rally

Last week, the Nifty index gained in four out of five sessions and hit new highs every day.

Not far behind, the Sensex had two records in five days.

After a near-$400 billion wipeout on election results day, the recovery of those losses has been brisk, taking just three days.

That is the fastest recovery rate of over 5 per cent loss in the last decade.

Trade volumes jumped to a record last week, and investors are looking at further highs in the coming week.

Reasons for record highs

So, what is driving this rally?

Bets that the new coalition government will focus on policy continuity and consider boosting consumer spending through tax cuts.

While the centre will focus on fiscal discipline, the broader expectations are that the new budget will benefit the Indian middle class.

Tuesday marked another day of records for Indian stocks after last week's rally, and the country's benchmark indices' market value was above $5 trillion. Indian stocks hit fresh all-time highs on Tuesday.

Tuesday marked another day of records for Indian stocks after last week's rally, and the country's benchmark indices' market value was above $5 trillion. Indian stocks hit fresh all-time highs on Tuesday. With global cues pointing to more gains for record-high Indian stocks, traders came out all guns blazing after the market holiday on Monday on account of Eid Al Adha. On Tuesday, the blue-chip Sensex opened at a new record high of 77,235 and rose further to a new all-time intra-day high of 77,367. The broader Nifty 50 index started at a life high of 23,571 and jumped to a record of 23,574. Investors will see if the Nifty can extend its gains this week. Market value and trading volumes will also be in focus this week. Last week, the country's stock market became a part of the exclusive $5 trillion club of the United States, China, Japan, and Hong Kong. It took India about six months to add the latest $1 trillion to the market value of companies listed. The fact that millions of young Indians have flocked to stock investing is a defining characteristic of gains in the last several years. The entire record rush is fueled by domestic investors, with foreign entities staying on the sidelines. Record rally Last week, the Nifty index gained in four out of five sessions and hit new highs every day. Not far behind, the Sensex had two records in five days. After a near-$400 billion wipeout on election results day, the recovery of those losses has been brisk, taking just three days. That is the fastest recovery rate of over 5 per cent loss in the last decade. Trade volumes jumped to a record last week, and investors are looking at further highs in the coming week. Reasons for record highs So, what is driving this rally? Bets that the new coalition government will focus on policy continuity and consider boosting consumer spending through tax cuts. While the centre will focus on fiscal discipline, the broader expectations are that the new budget will benefit the Indian middle class.

Indian stocks start week at new life highs

We look at the record rally in Indian stocks, which has taken the market value to above 5 trillion dollars. With global cues pointing to more gains for record-high Indian stocks, traders are expected to come out all guns blazing after the market holiday on Monday on account of Eid Al Adha.

Global cues point to more gains for Indian stocks

Now, we look at what the US Federal reserve's latest policy means to the world. The US Federal reserve kept rates on hold, given the last leg of the inflation fight is not done. Their updated forecasts leave 2024 growth and unemployment unchanged. But inflation projections are higher than previously thought.

How does US Fed policy affect the rest of the world?

And now, let’s take a closer look at China's trade situation. Despite rising tensions with the US and Europe, China's exports have surprisingly surged. This next report explores what's driving this boom and the potential hotspots for China. Take a look.

China surpasses US as top trading partner for Southeast Asia

We turn our focus to see how broader markets opened this morning. Asian stocks rose early on Thursday after a gain in US Technology shares pushed the S&P 500 to a new record high. The dollar, on the other hand, came under pressure on increasing federal reserve rate cut bets.

Asian stocks rise after US Peers hit fresh record highs

Major US stock indexes rose on Friday, with the technology-heavy Nasdaq composite scoring a fresh record peak ahead of the three-day weekend honoring memorial day. All this and more top developments from global markets this week.

Stocks rally globally this week

Indian markets scale new highs this week

The Japanese Yen is experiencing a sustained decline against the US Dollar, reaching a 34-year low. This depreciation is driven by the expectation that the Bank of Japan will maintain its ultra-loose monetary policy. While a weaker yen can benefit Japanese exports, it also pushes up import costs, leading to concerns about inflation and rising living expenses.

Japan aims to control Yen's slide amid market turmoil

China's stock market experienced a significant rebound in the first quarter of 2024, with the stock index rising 14% after hitting five-year lows in February. But here's a catch. To bolster the market, the central state-owned investment fund injected $41 billion, primarily through purchases of exchange-traded funds.

China pumps $41 billion to halt stock market slide

Assets at Blackrock - the world's largest asset manager - hit a record $10.5 trillion in the January-March quarter. The firm also posted a 36% jump in profit as rising global equity markets boosted its investment advisory and administration fees.

Blackrock hits a record $10.5 trillion in AUM in Q1

US core CPI exceeded forecasts for the third consecutive month, rising 0.4% from February and 3.8% year-over-year, likely postponing Fed rate cuts. Watch in for more details!

US inflation comes in at 0.4% for third consecutive month

India is one of the fastest growing major economies in the world, and its stock market is not far behind in valuation growth. The country's stock markets scaled a new record recently, taking it close to the 5 trillion dollar mark. Is there more money to be made in the Indian markets? Watch in for more details!

Indian market now near $5-trillion market cap

Let's take a look at how the stock markets across the world performed this week. Both the US and European stock markets experienced a downturn this week amid surging bond yields following indications from fed officials of hesitancy towards rate cuts this year.

Risk-off sentiment hurts investors

Take a look at how the action unfolded in the global markets this week.

Indian markets eye new record highs

In the bustling markets of the world, where currencies jostle for supremacy, the story of purchasing power paints a vivid picture of economic landscapes. Amidst this backdrop, the rise of India as an economic powerhouse shines brightly, offering consumers a taste of prosperity unparalleled in many developed nations. But could the economics of prosperity translate to votes for the incumbent government?

Higher purchasing power indicates rising affluence in India

China is the world's largest EV Market more than half of the electric vehicles on roads worldwide are found in China. However according to reports US' anti-subsidy probes and trade restrictions are taking a toll on China's booming EV Market.

China's US and EU EV exports hit

China's global EV domination hits a rough road

China's booming EV market heading towards a downward spiral

The global AI race has got yet another boost, thanks to market leader Nvidia. The chip maker has announced its latest AI chip 'B200', which is reportedly 30 times faster than its predecessors. Nvidia's latest innovation is not only likely to extend its market domination but also heat the AI race.

Latest chip is 30 times faster at some tasks than its predecessor

In response to a downturn in China's markets and as part of a global cost reduction initiative, fund manager Fidelity International (FIL) is reportedly planning to lay off approximately 20 employees from its main unit in China. 
 
This decision, which represents around 16 per cent of the unit's total headcount, comes amidst a broader effort by FIL to streamline its operations worldwide. 
 
While the specific roles of the affected employees have not been disclosed, Reuters cited sources familiar with the matter have revealed details of the downsising. 
 
FIL's China unit, which currently employs 120 staff members, is expected to undergo restructuring as part of the company's cost reduction program, aimed at achieving savings of around $125 million in 2024 and reducing its global workforce by 9 per cent. 
 
When questioned about the situation in China, a spokesperson for the London-based firm stated that the review process is ongoing, emphasising that no final decisions have been made regarding the China business. 
 
&nbsp;This move highlights the challenges faced by global asset managers in navigating the uncertainties present in the world's second-largest economy. 
 
The difficulties encountered by asset managers in China's market are evident in recent developments, including stock market declines and a deepening debt crisis in the property sector and local governments. 
 
Over the past 12 months, China's stock benchmark CSI300 has fallen by nearly 9 per cent, reaching a five-year low in the previous month. 
 
This challenging landscape has prompted other financial institutions to take similar actions, such as Morgan Stanley, which reportedly laid off approximately 9 per cent of its asset management unit staff in China last December. 
 
Additionally, US asset manager Matthews International Capital Management announced the closure of its Shanghai office. 
 
FIL, headquartered in London, gained regulatory approval to operate in China's $3.7 trillion mutual fund industry in late 2022. 
 
Despite the challenging market conditions, FIL's China unit manages three fund products with assets totaling $931 million as of January's end. 
 
Notably, while FIL China's equity fund has experienced a 10.1 per cent decline since its debut in April 2023, its two bond funds have outperformed benchmarks during their limited time in operation. 
 
This puts the spotlight on FIL's commitment to navigating the complexities of China's market and delivering value to its investors. 
 
The mutual fund industry in China boasts a diverse landscape, with over 150 companies operating in the market, including prominent foreign asset managers like BlackRock, Schroders, and JPMorgan Asset Management. 
 
The opening up of China's financial sector to foreign firms in 2019 paved the way for increased competition and opportunities for international players like FIL. 
 
As a former international investment arm of Boston-based Fidelity Investments, FIL has a long-standing reputation and expertise in global asset management. 
 
(With inputs from Reuters)

In response to a downturn in China's markets and as part of a global cost reduction initiative, fund manager Fidelity International (FIL) is reportedly planning to lay off approximately 20 employees from its main unit in China.

In response to a downturn in China's markets and as part of a global cost reduction initiative, fund manager Fidelity International (FIL) is reportedly planning to lay off approximately 20 employees from its main unit in China. This decision, which represents around 16 per cent of the unit's total headcount, comes amidst a broader effort by FIL to streamline its operations worldwide. While the specific roles of the affected employees have not been disclosed, Reuters cited sources familiar with the matter have revealed details of the downsising. FIL's China unit, which currently employs 120 staff members, is expected to undergo restructuring as part of the company's cost reduction program, aimed at achieving savings of around $125 million in 2024 and reducing its global workforce by 9 per cent. When questioned about the situation in China, a spokesperson for the London-based firm stated that the review process is ongoing, emphasising that no final decisions have been made regarding the China business. This move highlights the challenges faced by global asset managers in navigating the uncertainties present in the world's second-largest economy. The difficulties encountered by asset managers in China's market are evident in recent developments, including stock market declines and a deepening debt crisis in the property sector and local governments. Over the past 12 months, China's stock benchmark CSI300 has fallen by nearly 9 per cent, reaching a five-year low in the previous month. This challenging landscape has prompted other financial institutions to take similar actions, such as Morgan Stanley, which reportedly laid off approximately 9 per cent of its asset management unit staff in China last December. Additionally, US asset manager Matthews International Capital Management announced the closure of its Shanghai office. FIL, headquartered in London, gained regulatory approval to operate in China's $3.7 trillion mutual fund industry in late 2022. Despite the challenging market conditions, FIL's China unit manages three fund products with assets totaling $931 million as of January's end. Notably, while FIL China's equity fund has experienced a 10.1 per cent decline since its debut in April 2023, its two bond funds have outperformed benchmarks during their limited time in operation. This puts the spotlight on FIL's commitment to navigating the complexities of China's market and delivering value to its investors. The mutual fund industry in China boasts a diverse landscape, with over 150 companies operating in the market, including prominent foreign asset managers like BlackRock, Schroders, and JPMorgan Asset Management. The opening up of China's financial sector to foreign firms in 2019 paved the way for increased competition and opportunities for international players like FIL. As a former international investment arm of Boston-based Fidelity Investments, FIL has a long-standing reputation and expertise in global asset management. (With inputs from Reuters)

Fidelity International plans layoffs amid China market challenges

We put the spotlight on a significant trend in the Chinese economy: a surge in outbound investment. Faced with a struggling domestic market, Chinese investors are rushing to put their money overseas, pushing sales of offshore funds to record highs. This flight of capital is putting pressure on Beijing's efforts to stabilise the yuan and revive domestic markets.

China's domestic market in turmoil as investors flock overseas

China's leading electric vehicle (EV) manufacturer, BYD, has unveiled a new iteration of its popular car model amid a fierce price competition within the world's largest automobile market. 
 
The company has introduced the latest version at a price even lower than its discontinued predecessor, reflecting the intensifying battle for market share. 
 
The new Yuan Plus crossover, known as the Atto 3 in international markets, is offered with a starting price of $16,644, marking an 11.8 per cent decrease compared to the final sales price of its predecessor. 
 
This cost-effective strategy shows BYD's commitment to keeping a competitive advantage in the quickly changing EV market. 
 
The company's commitment to affordability aligns with the broader trend observed in the Chinese EV market, where manufacturers are striving to offer compelling value propositions to consumers. 
 
In 2023, BYD witnessed success with its Yuan Plus EV, recording sales figures of 412,202 units, a substantial portion of which were exported. 
 
According to data from the China Association of Automobile Manufacturers, approximately 42 per cent of BYD's total car exports for the year comprised the Yuan Plus model. 
BYD's international pricing strategy further accentuates its emphasis on maximising profit margins in foreign markets. 
 
For instance, the Atto 3 commands a starting price of $31,336 in Australia, representing an 85 per cent premium over its price in China. 
 
(With inputs from Reuters)

China's leading electric vehicle (EV) manufacturer, BYD, has unveiled a new iteration of its popular car model amid a fierce price competition within the world's largest automobile market.

China's leading electric vehicle (EV) manufacturer, BYD, has unveiled a new iteration of its popular car model amid a fierce price competition within the world's largest automobile market. The company has introduced the latest version at a price even lower than its discontinued predecessor, reflecting the intensifying battle for market share. The new Yuan Plus crossover, known as the Atto 3 in international markets, is offered with a starting price of $16,644, marking an 11.8 per cent decrease compared to the final sales price of its predecessor. This cost-effective strategy shows BYD's commitment to keeping a competitive advantage in the quickly changing EV market. The company's commitment to affordability aligns with the broader trend observed in the Chinese EV market, where manufacturers are striving to offer compelling value propositions to consumers. In 2023, BYD witnessed success with its Yuan Plus EV, recording sales figures of 412,202 units, a substantial portion of which were exported. According to data from the China Association of Automobile Manufacturers, approximately 42 per cent of BYD's total car exports for the year comprised the Yuan Plus model. BYD's international pricing strategy further accentuates its emphasis on maximising profit margins in foreign markets. For instance, the Atto 3 commands a starting price of $31,336 in Australia, representing an 85 per cent premium over its price in China. (With inputs from Reuters)

BYD launches new EV model with aggressive pricing amid market competition

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