Asian markets advanced again Wednesday as investors ignored a stall in Wall Street's rally, with eyes firmly on the long-term outlook for the global economy as lockdowns are eased and life slowly improves.

Falling infection rates, growing vaccination programmes and the prospects of a huge spending splurge by the US government within months continue to keep the mood on trading floors upbeat.

However, there remain worries that prices may have gone a little too far, which analysts said was capping any surge for now.

Declines in new cases, deaths and hospitalisation in major economies including the United States, Britain and Europe are fanning expectations they can begin opening up soon.

There is also apparently little concern about the emergence of new strains in parts of the world that some have warned could be more resistant to the vaccines.

"There is no evidence that new strains compromise protection against severe illness, and positive signs that consensus is shifting to re-opening once the most vulnerable are protected," said Stephen Innes at Axi.

Hong Kong led Wednesday's rally, piling on 1.8 percent above 30,000 thanks to a surge in Tencent and NetEase following news Chinese authorities had given the green light to their most eagerly awaited video games.

Shanghai also rose more than one percent as investors welcomed data showing China's factory gate prices rose for the first time in a year in January, indicating the economy was on a recovery track.

Gains in Tokyo were capped by news the Japanese government will keep containment measures in place for the time being.

Sydney, Seoul, Manila, Jakarta and Bangkok also rose but Mumbai, Singapore and Wellington fell slightly.

"Activity in Asia suggests that regional investors are not taking positioning off the boards ahead of the Lunar New Year holidays. If anything, it is precisely the opposite with Asian markets performing well" on Wednesday, said OANDA's Jeffrey Halley.

Investors brushed off a slight pullback in New York, where the Dow and S&amp;P 500 came off all-time highs, though the Nasdaq continued to another record.

Eyes on Biden stimulus push

But Mona Mahajan, at Allianz Global Investors, said some selling would be welcomed. "A pullback here could give tactical opportunities to those who were looking to get involved," she told Bloomberg TV.

"It seems like right now the story is just getting started, and the momentum is building behind it, and that story includes the reopening, vaccines, the downward trend now in some of the virus cases we've been seeing, supported by the stimulus talks and the Fed still on the sidelines."

Markets remain upbeat about the chances of Joe Biden pushing through his $1.9 trillion economic rescue package, and while there are warnings that the move -- along with an expected economic recovery -- will fan inflation, Federal Reserve officials were confident it would not be a long-term problem.

Biden said he was "optimistic" a bipartisan agreement could be passed and met top executives from leading companies including Walmart and JPMorgan Chase to shore up support.

However, with Republicans and some Democrats baulking at some parts of the proposal, including more than doubling the minimum wage, the final figure could be slightly lower -- some observers suggesting around $1.4 trillion.

Oil prices were flat, having risen for more than a week to 13-month highs thanks to bets that demand will surge as the world starts to look more normal. 
A drop in US inventories added to evidence that the commodity market is well on the road to recovery.

But Innes added: "That print will not dissuade oil prices from heating up further as Brent goes 'up, up and away', pushing through $61 and keeps climbing, floated higher by vaccine and stimulus balloons. Although I continue to view oil in overbought territory at these current levels and ripe for profit-taking."&nbsp;

Bitcoin was also struggling to push past $50,000 after this week's rally that came on the back of news that Elon Musk's electric carmaker Tesla had invested $1.5 billion in the cryptocurrency. 
The unit was hovering around $46,570, having topped out at $48,215 on Tuesday.

Key figures around 0710 GMT

Tokyo - Nikkei 225: UP 0.2 percent at 29,562.93 (close) 
Hong Kong - Hang Seng: UP 1.8 percent at 30,004.62 
Shanghai - Composite: UP 1.4 percent at 3,655.09 (close) 
Pound/dollar: UP at $1.3820 from $1.3813 at 2230 GMT 
Euro/dollar: UP at $1.2124 from $1.2116 
Euro/pound: UP at 87.73 pence from 87.71 pence 
Dollar/yen: UP at 104.59 yen from 104.58 yen&nbsp; 
Brent North Sea crude: FLAT at $61.11 per barrel 
West Texas Intermediate: DOWN 0.2 percent at $61.00 per barrel 
New York - Dow: DOWN 0.2 percent at $58.24 per barrel 
London - FTSE 100: UP 0.1 percent at 6,531.56 (close) 
&nbsp;

Asian markets advanced again Wednesday as investors ignored a stall in Wall Street's rally, with eyes firmly on the long-term outlook for the global economy as lockdowns are eased and life slowly improves.

Asian markets advanced again Wednesday as investors ignored a stall in Wall Street's rally, with eyes firmly on the long-term outlook for the global economy as lockdowns are eased and life slowly improves. Falling infection rates, growing vaccination programmes and the prospects of a huge spending splurge by the US government within months continue to keep the mood on trading floors upbeat. However, there remain worries that prices may have gone a little too far, which analysts said was capping any surge for now. Declines in new cases, deaths and hospitalisation in major economies including the United States, Britain and Europe are fanning expectations they can begin opening up soon. There is also apparently little concern about the emergence of new strains in parts of the world that some have warned could be more resistant to the vaccines. "There is no evidence that new strains compromise protection against severe illness, and positive signs that consensus is shifting to re-opening once the most vulnerable are protected," said Stephen Innes at Axi. Hong Kong led Wednesday's rally, piling on 1.8 percent above 30,000 thanks to a surge in Tencent and NetEase following news Chinese authorities had given the green light to their most eagerly awaited video games. Shanghai also rose more than one percent as investors welcomed data showing China's factory gate prices rose for the first time in a year in January, indicating the economy was on a recovery track. Gains in Tokyo were capped by news the Japanese government will keep containment measures in place for the time being. Sydney, Seoul, Manila, Jakarta and Bangkok also rose but Mumbai, Singapore and Wellington fell slightly. "Activity in Asia suggests that regional investors are not taking positioning off the boards ahead of the Lunar New Year holidays. If anything, it is precisely the opposite with Asian markets performing well" on Wednesday, said OANDA's Jeffrey Halley. Investors brushed off a slight pullback in New York, where the Dow and S&P 500 came off all-time highs, though the Nasdaq continued to another record. Eyes on Biden stimulus push But Mona Mahajan, at Allianz Global Investors, said some selling would be welcomed. "A pullback here could give tactical opportunities to those who were looking to get involved," she told Bloomberg TV. "It seems like right now the story is just getting started, and the momentum is building behind it, and that story includes the reopening, vaccines, the downward trend now in some of the virus cases we've been seeing, supported by the stimulus talks and the Fed still on the sidelines." Markets remain upbeat about the chances of Joe Biden pushing through his $1.9 trillion economic rescue package, and while there are warnings that the move -- along with an expected economic recovery -- will fan inflation, Federal Reserve officials were confident it would not be a long-term problem. Biden said he was "optimistic" a bipartisan agreement could be passed and met top executives from leading companies including Walmart and JPMorgan Chase to shore up support. However, with Republicans and some Democrats baulking at some parts of the proposal, including more than doubling the minimum wage, the final figure could be slightly lower -- some observers suggesting around $1.4 trillion. Oil prices were flat, having risen for more than a week to 13-month highs thanks to bets that demand will surge as the world starts to look more normal. A drop in US inventories added to evidence that the commodity market is well on the road to recovery. But Innes added: "That print will not dissuade oil prices from heating up further as Brent goes 'up, up and away', pushing through $61 and keeps climbing, floated higher by vaccine and stimulus balloons. Although I continue to view oil in overbought territory at these current levels and ripe for profit-taking." Bitcoin was also struggling to push past $50,000 after this week's rally that came on the back of news that Elon Musk's electric carmaker Tesla had invested $1.5 billion in the cryptocurrency. The unit was hovering around $46,570, having topped out at $48,215 on Tuesday. Key figures around 0710 GMT Tokyo - Nikkei 225: UP 0.2 percent at 29,562.93 (close) Hong Kong - Hang Seng: UP 1.8 percent at 30,004.62 Shanghai - Composite: UP 1.4 percent at 3,655.09 (close) Pound/dollar: UP at $1.3820 from $1.3813 at 2230 GMT Euro/dollar: UP at $1.2124 from $1.2116 Euro/pound: UP at 87.73 pence from 87.71 pence Dollar/yen: UP at 104.59 yen from 104.58 yen Brent North Sea crude: FLAT at $61.11 per barrel West Texas Intermediate: DOWN 0.2 percent at $61.00 per barrel New York - Dow: DOWN 0.2 percent at $58.24 per barrel London - FTSE 100: UP 0.1 percent at 6,531.56 (close)

Asian markets push higher as traders focus on recovery outlook

Asian markets struck a hopeful tone on Thursday at a potential Brexit deal and economic recovery prospects Australia's S&amp;P/ASX 200 was up 0.78% in early trading, while Japan's Nikkei 225 futures were up 0.07%, and Hong Kong's Hang Seng index futures inched up 0.17%.

Investors cheered a potential Brexit trade deal between Britain and the European Union that raised hopes the estranged allies would avoid a turbulent economic rupture on New Year's Day.

"The framework for a Brexit trade deal gave investors the green light to start buying everything in Europe," said Edward Moya, Senior Market Analyst, at OANDA in New York. He was quoted by Reuters.

A potential Brexit deal also boosted sterling, which went up 0.13% against the dollar at $1.3509 after closing up 0.9%. The pound also rose after Francen lifted ban on freight coming from Britain.

Wall Street ended mostly higher, with the Dow Jones Industrial Average closing up 0.38% and the S&amp;P 500 edging 0.07% higher. The Nasdaq Composite declined 0.29%.

A raft of mixed U.S. economic data showed lower jobless claims and an uptick in new orders for durable goods, but also a pullback in consumer spending, falling personal income and fading sentiment as the holiday shopping season nears its end amid a resurgent pandemic.

Investors largely shrugged off comments by President Trump saying a nearly $900 billion stimulus bill, agreed upon after months of wrangling in Congress, was "a disgrace" that he might not sign. Trump said he wanted to increase "ridiculously low" $600 payments for individuals to $2,000, in a video posted to Twitter.

"Risk-on sentiment is guiding markets so far today and it appears to be weighted more toward possible optimism toward a Brexit deal and the cherry-picked parts of U.S. releases, rather than Trump's reckless antics over signing the stimulus and funding bill," said Derek Holt, head of capital markets Economics at Scotiabank.

Oil prices settled more than 2% higher as draws in U.S. inventories of crude, gasoline and distillates lifted investors' hopes for some return in fuel demand

(With Reuters inputs)

Asian markets struck a hopeful tone on Thursday at a potential Brexit deal and economic recovery prospects Australia's S&P/ASX 200 was up 0.78% in early trading, while Japan's Nikkei 225 futures were up 0.

Asian markets struck a hopeful tone on Thursday at a potential Brexit deal and economic recovery prospects Australia's S&P/ASX 200 was up 0.78% in early trading, while Japan's Nikkei 225 futures were up 0.07%, and Hong Kong's Hang Seng index futures inched up 0.17%. Investors cheered a potential Brexit trade deal between Britain and the European Union that raised hopes the estranged allies would avoid a turbulent economic rupture on New Year's Day. "The framework for a Brexit trade deal gave investors the green light to start buying everything in Europe," said Edward Moya, Senior Market Analyst, at OANDA in New York. He was quoted by Reuters. A potential Brexit deal also boosted sterling, which went up 0.13% against the dollar at $1.3509 after closing up 0.9%. The pound also rose after Francen lifted ban on freight coming from Britain. Wall Street ended mostly higher, with the Dow Jones Industrial Average closing up 0.38% and the S&P 500 edging 0.07% higher. The Nasdaq Composite declined 0.29%. A raft of mixed U.S. economic data showed lower jobless claims and an uptick in new orders for durable goods, but also a pullback in consumer spending, falling personal income and fading sentiment as the holiday shopping season nears its end amid a resurgent pandemic. Investors largely shrugged off comments by President Trump saying a nearly $900 billion stimulus bill, agreed upon after months of wrangling in Congress, was "a disgrace" that he might not sign. Trump said he wanted to increase "ridiculously low" $600 payments for individuals to $2,000, in a video posted to Twitter. "Risk-on sentiment is guiding markets so far today and it appears to be weighted more toward possible optimism toward a Brexit deal and the cherry-picked parts of U.S. releases, rather than Trump's reckless antics over signing the stimulus and funding bill," said Derek Holt, head of capital markets Economics at Scotiabank. Oil prices settled more than 2% higher as draws in U.S. inventories of crude, gasoline and distillates lifted investors' hopes for some return in fuel demand (With Reuters inputs)

Asian markets rise at the prospect of a Brexit deal

Stock markets gained on Wednesday, as news of a working COVID-19 vaccine seemed to inoculate investors against worry about surging infections in Europe and the United States, while the kiwi rose as traders thought the central bank sounded upbeat.

Global stocks up as vaccine shields against second-wave worries

News of a breakthrough in the race to find a COVID-19 vaccine sparked one of the heaviest trading days since the height of the pandemic crisis, according to early data analysed by Reuters, with nearly $2 trillion (1.51 trillion pounds) changing hands on Monday.

Nearly $2 trillion traded on COVID-19 vaccine news

Diwali 2020 is just around the corner and as the country prepares to welcome the festive times, stock exchanges are gearing up for Muhurat Trading. Stock exchanges open for one hour on the day of Diwali for a symbolic trade that goes on for around an hour. The usual hustle-bustle and aggressive investor behaviour is seldom seen in this symbolic trading hour. It is believed by many that if you trade stocks during Muhurat trading, good luck follows you for the rest of the year till next Diwali. Here are few key things you need to know about Muhurat Trading 2020

When is Muhurat Trading this year?

It is usually held in the most auspicious hour on the day of Diwali. This year Diwali is falling on November 14. The Muhurat Trading will be carried out between 6:15 pm to 7:15 pm on the day

Who decides the time of the Muhurat trading?

Stock exchanges specify the time. During this hour, live trading takes place.

 
What is the schedule of Muhurat Trading 2020 session?

Here is how the time around Muhurat Trading is allotted

5.45 pm to 6 pm: Block deal session 
6 pm to 6.08 pm: Pre-opening 
6.15 pm to 7.15 pm: Muhurat trading 
6.20 pm to 7.05 pm: Periodic call auction 
7.15 pm to 7.30 pm: Closing session

Trade modification cut-off time is till 7:45 pm

How does market behave during Muhurat Trading?&nbsp;

Historically, markets have remained positive during the symbolic trading session. However, trading volume has been low. Stock movements tend to below as well.

Diwali 2020 is just around the corner and as the country prepares to welcome the festive times, stock exchanges are gearing up for Muhurat Trading. Stock exchanges open for one hour on the day of Diwali for a symbolic trade that goes on for around an hour.

Diwali 2020 is just around the corner and as the country prepares to welcome the festive times, stock exchanges are gearing up for Muhurat Trading. Stock exchanges open for one hour on the day of Diwali for a symbolic trade that goes on for around an hour. The usual hustle-bustle and aggressive investor behaviour is seldom seen in this symbolic trading hour. It is believed by many that if you trade stocks during Muhurat trading, good luck follows you for the rest of the year till next Diwali. Here are few key things you need to know about Muhurat Trading 2020 When is Muhurat Trading this year? It is usually held in the most auspicious hour on the day of Diwali. This year Diwali is falling on November 14. The Muhurat Trading will be carried out between 6:15 pm to 7:15 pm on the day Who decides the time of the Muhurat trading? Stock exchanges specify the time. During this hour, live trading takes place. What is the schedule of Muhurat Trading 2020 session? Here is how the time around Muhurat Trading is allotted 5.45 pm to 6 pm: Block deal session 6 pm to 6.08 pm: Pre-opening 6.15 pm to 7.15 pm: Muhurat trading 6.20 pm to 7.05 pm: Periodic call auction 7.15 pm to 7.30 pm: Closing session Trade modification cut-off time is till 7:45 pm How does market behave during Muhurat Trading? Historically, markets have remained positive during the symbolic trading session. However, trading volume has been low. Stock movements tend to below as well.

Diwali 2020 Muhurat Trading: Here is what you need to know

India: Sensex trading above 43,500 mark

Nikkei rises 1.1 per cent to nine-month top, South Korean index gains 1.5 per cent.

Asian shares rally to near 3-year high

World stocks moved higher on Wednesday despite the US election outcome being clouded by huge uncertainty that could end up in court.

Wall Street opened with gains as both President Donald Trump and Democratic challenger Joe Biden still had a path of victory with a handful of states still up for grabs.

The Dow climbed&nbsp;0.9 percent while the broader S&amp;P 500&nbsp;rose 1.6 percent and the tech-heavy Nasdaq Composite jumped 2.7 percent.

European stock markets, which opened sharply lower after President&nbsp;Donald Trump said he would go to the Supreme Court to dispute the US vote count, turned higher in late morning deals and in afternoon trading they were all posting gains of over 1 percent.

Around 1330 GMT, London's benchmark FTSE 100 index was up 1.0 percent, while the pound fell 0.7 percent against the dollar.

In the eurozone, the Frankfurt stock market&nbsp;rose 0.9&nbsp;percent and Paris climbed 1.3 percent.

The euro was down around a tenth of a percent versus the dollar, while oil prices surged over 2 percent.

Asian indices mostly closed up but that was ahead of Trump declaring he would dispute the election.

<a href="https://www.wionews.com/world/us-election-2020-result-live-update-donald-trump-joe-biden-votes-tally-president-predictions-begins-vote-count-how-to-follow-the-2020-us-election-results-from-india-Trump-wins-Kentucky-joe-Biden-Vermont-340293">Click here for latest on US Election 2020</a>

The US election was plunged into chaos early Wednesday as Trump prematurely declared victory and sought Supreme Court intervention to stop vote-counting -- &nbsp;even as his Democratic rival Joe Biden voiced confidence in his own chances.

"With Donald Trump already claiming victory even though millions of votes are still uncounted, investors may have to belt up and brace themselves for some volatile sessions of trading ahead," noted Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown.

In a divisive election cast under the shadow of the coronavirus pandemic that has claimed more than 230,000 lives in the United States, Trump appeared to have avoided a Democratic wave predicted by some polls but he still needs key states to secure another four-year term.

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"The polls got it wrong," said OANDA analyst Edward Moya. "Wall Street hoped for election certainty and what they will end up getting over the next couple days is recounts and lawsuits."

Biden's White House campaign slammed Trump's threat to try to stop the election vote count as "outrageous", saying its legal team was ready to prevent such an "unprecedented" act.

'Nightmare situation'

"The US election has become a mess," said Naeem Aslam, chief market analyst at Avatrade.

"Basically, we are seeing a nightmare situation come true because now we are talking about legal battles. This uncertainty is going to keep traders on edge."

Also Read | <a href="https://www.wionews.com/photos/us-election-2020-historical-firsts-in-the-presidential-election-340498#four-consecutive-two-term-presidencies-340478">US election 2020: Historical firsts in the presidential election</a>

Aslam added that investors still saw the dollar as a safe bet amid the volatility on stock markets.

Before Wednesday's shock turn of events, world equities had rallied this week as traders piled bets on Biden winning, with opinion polls showing him with a big national lead though with slim advantages in battleground states.

While Tuesday was formally Election Day, in reality, Americans have been voting for weeks. The Covid-19 pandemic caused a huge expansion in mail-in and early voting, and nearly 100 million people had already cast their ballots.

While a failure for Biden and the Democrats would jolt markets, the general consensus is that whoever wins will still push through a major stimulus package for the struggling US economy as it battles the virus.

Key figures around 1330 GMT

New York - Dow: UP 0.9&nbsp;percent at 27,731.20

London - FTSE 100: UP 1.0 percent at 5,842.38 points

Frankfurt - DAX 30: UP 0.9 percent at 12,195.65

Paris - CAC 40: UP 1.3 percent at 4,866.88

EURO STOXX 50: UP 0.9 percent at 3,125.44

Tokyo - Nikkei 225: UP 1.7 percent at 23,695.23 (close)

Hong Kong - Hang Seng: DOWN 0.2 percent at 24,886.14 (close)

Shanghai - Composite: UP 0.2 percent at 3,277.44 (close)

Euro/dollar: DOWN at $1.1701 from $1.1711 at 2115 GMT

Dollar/yen: UP at 104.48 yen from 104.52 yen

Pound/dollar: DOWN at $1.2964 from $1.3035

Euro/pound: UP at 90.25 pence from 89.82 pence

West Texas Intermediate: UP 2.3 percent at $38.53 per barrel

Brent North Sea crude: UP 2.3 percent at $40.64 per barrel

World stocks moved higher on Wednesday despite the US election outcome being clouded by huge uncertainty that could end up in court. Wall Street opened with gains as both President Donald Trump and Democratic challenger Joe Biden still had a path of victory with a handful of states still up for grabs.

World stocks moved higher on Wednesday despite the US election outcome being clouded by huge uncertainty that could end up in court. Wall Street opened with gains as both President Donald Trump and Democratic challenger Joe Biden still had a path of victory with a handful of states still up for grabs. The Dow climbed 0.9 percent while the broader S&P 500 rose 1.6 percent and the tech-heavy Nasdaq Composite jumped 2.7 percent. European stock markets, which opened sharply lower after President Donald Trump said he would go to the Supreme Court to dispute the US vote count, turned higher in late morning deals and in afternoon trading they were all posting gains of over 1 percent. Around 1330 GMT, London's benchmark FTSE 100 index was up 1.0 percent, while the pound fell 0.7 percent against the dollar. In the eurozone, the Frankfurt stock market rose 0.9 percent and Paris climbed 1.3 percent. The euro was down around a tenth of a percent versus the dollar, while oil prices surged over 2 percent. Asian indices mostly closed up but that was ahead of Trump declaring he would dispute the election. Click here for latest on US Election 2020 The US election was plunged into chaos early Wednesday as Trump prematurely declared victory and sought Supreme Court intervention to stop vote-counting -- even as his Democratic rival Joe Biden voiced confidence in his own chances. "With Donald Trump already claiming victory even though millions of votes are still uncounted, investors may have to belt up and brace themselves for some volatile sessions of trading ahead," noted Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown. In a divisive election cast under the shadow of the coronavirus pandemic that has claimed more than 230,000 lives in the United States, Trump appeared to have avoided a Democratic wave predicted by some polls but he still needs key states to secure another four-year term. × "The polls got it wrong," said OANDA analyst Edward Moya. "Wall Street hoped for election certainty and what they will end up getting over the next couple days is recounts and lawsuits." Biden's White House campaign slammed Trump's threat to try to stop the election vote count as "outrageous", saying its legal team was ready to prevent such an "unprecedented" act. 'Nightmare situation' "The US election has become a mess," said Naeem Aslam, chief market analyst at Avatrade. "Basically, we are seeing a nightmare situation come true because now we are talking about legal battles. This uncertainty is going to keep traders on edge." Also Read | US election 2020: Historical firsts in the presidential election Aslam added that investors still saw the dollar as a safe bet amid the volatility on stock markets. Before Wednesday's shock turn of events, world equities had rallied this week as traders piled bets on Biden winning, with opinion polls showing him with a big national lead though with slim advantages in battleground states. While Tuesday was formally Election Day, in reality, Americans have been voting for weeks. The Covid-19 pandemic caused a huge expansion in mail-in and early voting, and nearly 100 million people had already cast their ballots. While a failure for Biden and the Democrats would jolt markets, the general consensus is that whoever wins will still push through a major stimulus package for the struggling US economy as it battles the virus. Key figures around 1330 GMT New York - Dow: UP 0.9 percent at 27,731.20 London - FTSE 100: UP 1.0 percent at 5,842.38 points Frankfurt - DAX 30: UP 0.9 percent at 12,195.65 Paris - CAC 40: UP 1.3 percent at 4,866.88 EURO STOXX 50: UP 0.9 percent at 3,125.44 Tokyo - Nikkei 225: UP 1.7 percent at 23,695.23 (close) Hong Kong - Hang Seng: DOWN 0.2 percent at 24,886.14 (close) Shanghai - Composite: UP 0.2 percent at 3,277.44 (close) Euro/dollar: DOWN at $1.1701 from $1.1711 at 2115 GMT Dollar/yen: UP at 104.48 yen from 104.52 yen Pound/dollar: DOWN at $1.2964 from $1.3035 Euro/pound: UP at 90.25 pence from 89.82 pence West Texas Intermediate: UP 2.3 percent at $38.53 per barrel Brent North Sea crude: UP 2.3 percent at $40.64 per barrel

US stocks open higher despite US vote uncertainty

Global markets and rebounding from huge losses caused by coronavirus pandemic, Asian Equities are mostly firm today after a strong wall street session. Watch report.

Recovery in Asian markets: Japanese Yen strengthened by 0.60%

The Asian shares made a cautious start today morning as investors kept an eye on flaring tensions between US and China. Watch report

Asian Shares | Australian shares recover Friday's losses

The market recorded gains for the second continuous week ending on April 17. There are expectations that infections may be peaking in Europe and that the US may ease the lockdown of business as the number of reported cases is declining daily.

Coronavirus Pandemic: Indian markets open with gain

Asian equities fell for a second session today after a warning about the US coronavirus death toll that has investors looking at the safety of dollars and bonds.

Indian markets shut today: Asian stocks slip on fresh virus warning

The longest-running US stock market bull in history is now over, with the coronavirus outbreak proving severe by the end of 11 years of an almost unprecedented financial crisis.

Global market seems to "nose-dive" by the COVID-19 fear

The global stock market continued its recession on Friday amid panic created by the outbreak of the novel coronavirus.

Big blow to global stock market by COVID-19, India halts trading for 45 minutes

Watch today in WION Wallet: Sensex tanks 3000 points, Nifty hits the lower circuit.

WION Wallet: Sensex tanks 3000 points, Nifty hits the lower circuit | WION | World News

As odds of the global recession rises the government and central banks around the world are racing to restore the economic damage from the spread of the novel coronavirus. The death toll has already landed hard on the jittery financial markets. Watch report:

Global stocks plunge on coronavirus fears

After the coronavirus outbreak, the world is staring at the biggest economic slowdown since the 2008 financial crisis. The impact of coronavirus on the world economy is quite visible now.

Coronavirus Outbreak: Biggest economic slowdown since 2008 financial crisis

The spread of the coronavirus has generated fears of a global slowdown as global markets have tumbled again on virus fears. The decline in the equity market around the globe continued for the 6th trade day. Watch report:

Covid-19 fears spook global markets, Sink deeper into red

Indian shares closed near record highs on Thursday after Washington and Beijing signed the first phase of a trade deal, though weakness in metal and mining stocks capped gains.

Also read:&nbsp;<a href="https://www.wionews.com/business-economy/sensex-hits-42000-for-first-time-nifty-at-a-record-high-274544">Sensex hits 42,000 for first time, Nifty at a record high</a>

The NSE Nifty 50 Index ended 0.1 per cent&nbsp;higher at 12,355.5, while the S&amp;P BSE Sensex index settled 0.14 per cent&nbsp;higher at 41,932.56. The Nifty and Sensex had earlier in the day hit record highs of 12,389.05 and 42,059.45, respectively.

Automaker Eicher Motors Ltd was the top gainer on the Nifty, climbing 4.42 per cent&nbsp;on its best day in three months.

Nestle&nbsp;India&nbsp;Ltd, the maker of Maggi noodles and Kit-Kat chocolates, rose 3.33 per cent&nbsp;to an all-time closing high.

The Nifty Metal Index fell 1.25 per cent&nbsp;and weighed on the benchmark indexes, as a number of sore spots in the Sino-US&nbsp;deal left investors worried that the pact would not substantially boost metals demand.

Gas marketing company GAIL (India) Ltd fell 2.2 per cent&nbsp;and was the biggest percentage loser on the Nifty.

Indian shares closed near record highs on Thursday after Washington and Beijing signed the first phase of a trade deal, though weakness in metal and mining stocks capped gains.

Indian shares closed near record highs on Thursday after Washington and Beijing signed the first phase of a trade deal, though weakness in metal and mining stocks capped gains. Also read: Sensex hits 42,000 for first time, Nifty at a record high The NSE Nifty 50 Index ended 0.1 per cent higher at 12,355.5, while the S&P BSE Sensex index settled 0.14 per cent higher at 41,932.56. The Nifty and Sensex had earlier in the day hit record highs of 12,389.05 and 42,059.45, respectively. Automaker Eicher Motors Ltd was the top gainer on the Nifty, climbing 4.42 per cent on its best day in three months. Nestle India Ltd, the maker of Maggi noodles and Kit-Kat chocolates, rose 3.33 per cent to an all-time closing high. The Nifty Metal Index fell 1.25 per cent and weighed on the benchmark indexes, as a number of sore spots in the Sino-US deal left investors worried that the pact would not substantially boost metals demand. Gas marketing company GAIL (India) Ltd fell 2.2 per cent and was the biggest percentage loser on the Nifty.

Nifty, Sensex settle near record highs after US-China trade deal

Asian shares rose to new 19-month highs on Monday ahead of the expected signing on <a href="https://www.wionews.com/world/details-of-us-china-deal-to-be-published-after-signing-white-house-273483">Phase One</a>&nbsp;China-US&nbsp;trade deal, although markets have yet to see the details of the agreement.

<a href="https://www.wionews.com/business-economy/nifty-sensex-headed-for-weekly-gain-as-mideast-tensions-ease-273346">MSCI's broadest index</a> of Asia-Pacific shares outside Japan was 0.47 per cent&nbsp;higher, touching its highest point since June 2018. Japanese markets were closed for a holiday.

South Korea's trade-sensitive Kospi added 0.73 per cent&nbsp;and Hong Kong's Hang Seng was up 0.74 per cent, while Taiwan shares added 0.6 per cent&nbsp;in the first trading day after Taiwanese re-elected President <a href="https://www.wionews.com/world/hong-kongs-strengths-as-global-financial-hub-intact-despite-protests-carrie-lam-273828">Tsai Ing-wen</a> by a landslide on Saturday.

Mainland Chinese shares lagged the regional index after China's major equity indexes logged their sixth consecutive weekly rise last week, the longest such streak since the first quarter of 2019.

The benchmark <a href="https://www.wionews.com/business-economy/sensex-jumps-634-points-as-us-iran-tensions-ease-auto-and-realty-stocks-gain-273229">Shanghai Composite Index</a> ended the morning session up just 0.06 per cent.

Investors in China are looking ahead to trade and economic growth data due this week, which is expected to shed more light on some early signs of economic improvement after the country logged its slowest pace of growth in nearly three decades in the third quarter.

Japan's <a href="https://www.wionews.com/business-economy/asian-shares-erase-losses-as-mideast-tensions-ease-oil-ticks-up-273093">Nikkei</a> was closed for a holiday. It fell sharply early last week when Iran attacked bases hosting US&nbsp;military in Iraq, only to rally almost a thousand points when the two countries stepped back from hostilities.

E-Mini futures for the <a href="https://www.wionews.com/business-economy/global-markets-stocks-march-back-to-record-highs-as-middle-east-tensions-ease-273438">S&amp;P 500</a> edged up 0.28 per cent, to be just off all-time highs.

The main event of the week will be the signing of the Phase One&nbsp;trade deal between the United States and China on Wednesday. The Trump administration has invited at least 200 people to the White House for the ceremony.

"A calmer geopolitical backdrop and the signing of the US‑China Phase One&nbsp;agreement is, on balance, favourable for global growth," said Joseph Capurso, an FX strategist at CBA.

"However, the 86-page Phase One&nbsp;<a href="https://www.wionews.com/world/chinas-vice-premier-liu-to-sign-us-trade-deal-next-week-in-washington-273242">agreement</a> has not yet been made public.&nbsp;There are doubts how comprehensive the deal is, and whether the Phase One&nbsp;agreement will be implemented in full by both governments."

Washington has reserved the right to reimpose tariffs if it judges China is not abiding by the deal.

"If there is any surprise from the Phase One&nbsp;deal&nbsp;that may actually cause some kind of volatility," said Tommy Xie, economist and head of greater China research at OCBC in Singapore.

"People are really focused on whether China is really committed to purchasing additional $200 billion in goods and services from the US&nbsp;over the next two years, there's not much commitment from China yet."

Xie said China's fourth-quarter and 2019 full-year GDP figures, due on Friday, are also likely to draw close scrutiny as investors look for signs that improvements seen in recent manufacturing surveys are reflected in broader growth and investment figures.

<a href="https://www.wionews.com/business-economy/sp-500-snaps-win-streak-as-middle-east-tensions-push-down-wall-street-272037">Wall Street</a> slipped and bonds rallied on Friday when data showed US&nbsp;nonfarm payrolls missed forecasts with a rise of 145,000, while wages and hours worked were soft.

"This is the perfect employment report for the Fed to continue to run the economy 'hot', as views on the natural rate of unemployment continue to drop," said Alan Ruskin, Deutsche Bank's global head of FX strategy. "This is perfect for risky assets."&nbsp;

On Monday, the euro gained 0.06 per cent&nbsp;to $1.1126, up from a $1.1083 low on Friday. Support comes in around $1.1060, while the recent peak at $1.1239 marks stiff resistance.

The dollar was firm on the yen at 109.61 but faces tough resistance around 109.70 where rallies have repeatedly failed in the past couple of months.

Against a basket of currencies, the dollar was stuck at 97.357, well within the recent trading range of 96.355 to 97.817.

The pound dipped 0.18 per cent&nbsp;to $1.3035 after <a href="https://www.wionews.com/business-economy/bank-of-england-sam-woods-warns-financial-sector-may-crackdown-273799">Bank of England</a> policymaker Gertjan Vlieghe said he will vote for a cut in interest rates later this month, barring an "imminent and significant" improvement in the growth data.

Spot gold slipped 0.37 per cent to $1,556.30 per ounce, having hit a seven-year top last week of $1,610.90 at the height of <a href="https://www.wionews.com/world/do-not-kill-your-protesters-us-president-trump-to-iranian-authorities-273818">Iran-US&nbsp;tensions</a>.

Oil prices were slightly firmer after suffering the first weekly loss since late November.&nbsp;

<a href="https://www.wionews.com/business-economy/oil-edges-above-65-as-middle-east-concerns-support-273441">Brent crude</a> futures were up 6 cents at $65.04 a barrel, while US&nbsp;crude added 10 cents to $59.14 a barrel.

Asian shares rose to new 19-month highs on Monday ahead of the expected signing on Phase One China-US trade deal, although markets have yet to see the details of the agreement.

Asian shares rose to new 19-month highs on Monday ahead of the expected signing on Phase One China-US trade deal, although markets have yet to see the details of the agreement. MSCI's broadest index of Asia-Pacific shares outside Japan was 0.47 per cent higher, touching its highest point since June 2018. Japanese markets were closed for a holiday. South Korea's trade-sensitive Kospi added 0.73 per cent and Hong Kong's Hang Seng was up 0.74 per cent, while Taiwan shares added 0.6 per cent in the first trading day after Taiwanese re-elected President Tsai Ing-wen by a landslide on Saturday. Mainland Chinese shares lagged the regional index after China's major equity indexes logged their sixth consecutive weekly rise last week, the longest such streak since the first quarter of 2019. The benchmark Shanghai Composite Index ended the morning session up just 0.06 per cent. Investors in China are looking ahead to trade and economic growth data due this week, which is expected to shed more light on some early signs of economic improvement after the country logged its slowest pace of growth in nearly three decades in the third quarter. Japan's Nikkei was closed for a holiday. It fell sharply early last week when Iran attacked bases hosting US military in Iraq, only to rally almost a thousand points when the two countries stepped back from hostilities. E-Mini futures for the S&P 500 edged up 0.28 per cent, to be just off all-time highs. The main event of the week will be the signing of the Phase One trade deal between the United States and China on Wednesday. The Trump administration has invited at least 200 people to the White House for the ceremony. "A calmer geopolitical backdrop and the signing of the US‑China Phase One agreement is, on balance, favourable for global growth," said Joseph Capurso, an FX strategist at CBA. "However, the 86-page Phase One agreement has not yet been made public. There are doubts how comprehensive the deal is, and whether the Phase One agreement will be implemented in full by both governments." Washington has reserved the right to reimpose tariffs if it judges China is not abiding by the deal. "If there is any surprise from the Phase One deal that may actually cause some kind of volatility," said Tommy Xie, economist and head of greater China research at OCBC in Singapore. "People are really focused on whether China is really committed to purchasing additional $200 billion in goods and services from the US over the next two years, there's not much commitment from China yet." Xie said China's fourth-quarter and 2019 full-year GDP figures, due on Friday, are also likely to draw close scrutiny as investors look for signs that improvements seen in recent manufacturing surveys are reflected in broader growth and investment figures. Wall Street slipped and bonds rallied on Friday when data showed US nonfarm payrolls missed forecasts with a rise of 145,000, while wages and hours worked were soft. "This is the perfect employment report for the Fed to continue to run the economy 'hot', as views on the natural rate of unemployment continue to drop," said Alan Ruskin, Deutsche Bank's global head of FX strategy. "This is perfect for risky assets." On Monday, the euro gained 0.06 per cent to $1.1126, up from a $1.1083 low on Friday. Support comes in around $1.1060, while the recent peak at $1.1239 marks stiff resistance. The dollar was firm on the yen at 109.61 but faces tough resistance around 109.70 where rallies have repeatedly failed in the past couple of months. Against a basket of currencies, the dollar was stuck at 97.357, well within the recent trading range of 96.355 to 97.817. The pound dipped 0.18 per cent to $1.3035 after Bank of England policymaker Gertjan Vlieghe said he will vote for a cut in interest rates later this month, barring an "imminent and significant" improvement in the growth data. Spot gold slipped 0.37 per cent to $1,556.30 per ounce, having hit a seven-year top last week of $1,610.90 at the height of Iran-US tensions. Oil prices were slightly firmer after suffering the first weekly loss since late November. Brent crude futures were up 6 cents at $65.04 a barrel, while US crude added 10 cents to $59.14 a barrel.

Asian shares rise ahead of US-China 'phase one' trade deal

Tensions escalate in the Middle East after the killing of Iranian commander of Quds Force, <a href="https://www.wionews.com/world/latest-updates-on-iran-general-qassem-soleimanis-death-272457">Qasem Soleimani</a> by the USA erased&nbsp;new year gains on Monday as investors&nbsp;pushed safe-haven gold to a seven-year high, and oil jumped to its highest since September.

The United States detected a heightened state of alert by Iran's missile forces, as President <a href="https://www.wionews.com/world/should-iran-strike-us-will-quickly-strike-back-says-trump-272374">Donald Trump</a> warned the US&nbsp;would strike back, "perhaps in a disproportionate manner", if Iran attacked any American person or target.

Iraq's parliament on Sunday recommended all foreign troops be ordered out of the country after the US&nbsp;killing of the Iranian military commander and an Iraqi militia leader in a drone strike on a convoy at Baghdad airport.

Spot gold gained 1.6 per cent&nbsp;to $1,579.72 per ounce in jittery trade to reach its highest since April 2013.

Oil prices extended gains on fears any Middle East conflict could disrupt global supplies.

Brent crude futures rose 2.04 per cent&nbsp;to $70 a barrel, while US&nbsp;crude climbed 1.7 per cent&nbsp;to $64.12.

<a href="https://www.wionews.com/business-economy/global-markets-asian-shares-at-18-month-highs-nikkei-finishes-year-up-18-270993">European shares</a> extended losses and were set for their worst day in a week, with the pan-European STOXX 600 index down 1.12 per cent&nbsp;by 0838 GMT. The European oil and gas stock index rose about 0.74 per cent&nbsp;and was the sole gainer among its peers, hitting its highest since July.

Watch:&nbsp;Equities crash on US-Iran tensions, Nifty sinks below 12,100

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"Geopolitical events by their nature are unpredictable, but previous periods of increased tensions suggest that the impact on wider markets tends to be short-lived, with more lasting effects confined to local markets," said Mark Haefele, chief investment officer at UBS Global Wealth Management.

"In general, this supports holding a diversified portfolio."

MSCI's All-Country World Index, which tracks shares in 47 countries, was down 0.43 per cent, erasing all its new year gains in its biggest two-day fall since early December.

In Asia, Japan's Nikkei slid almost 2 per cent&nbsp;in a sour return from holiday, while E-Mini futures for the <a href="https://www.wionews.com/business-economy/sp-500-snaps-win-streak-as-middle-east-tensions-push-down-wall-street-272037">S&amp;P 500</a> fell 0.7 per cent.

Chinese shares, which had opened in the red, reversed their losses, as did Australian shares which ended the day flat. Hong Kong's Hang Seng index lost 0.8 per cent.

Sovereign bonds benefited from the safety bid with yields on 10-year Treasuries down at 1.7725 per cent&nbsp;having fallen 10 basis points on Friday.

The yen remained the favoured safe haven among currencies thanks to Japan's massive holdings of foreign assets. Investors assume Japanese funds would repatriate their money during a truly global crisis, pushing the yen higher.

"Iran is almost certainly to respond in some scale, scope and magnitude," said Lee Hardman, currency analyst at MUFG.

Therefore "market participants are likely to remain nervous until there is more clarity over how geopolitical tensions between the US&nbsp;and Iran will proceed", Hardman said, noting that geopolitical tensions could hurt global economic growth, especially if the price of oil increases.

On Monday, the dollar was last at 107.965 yen, after falling to a three-month trough of 107.77 earlier in the session. The euro likewise eased to 120.61 yen having hit a three-week low.

The dollar was steadier against other majors, with the euro a tad firmer at $1.1172. Against a basket of currencies, the dollar was holding at 96.839.

The risk-sensitive currencies of Australia and New Zealand were on track for their fourth straight session of losses.

Tensions escalate in the Middle East after the killing of Iranian commander of Quds Force, Qasem Soleimani by the USA erased new year gains on Monday as investors pushed safe-haven gold to a seven-year high, and oil jumped to its highest since September.

Tensions escalate in the Middle East after the killing of Iranian commander of Quds Force, Qasem Soleimani by the USA erased new year gains on Monday as investors pushed safe-haven gold to a seven-year high, and oil jumped to its highest since September. The United States detected a heightened state of alert by Iran's missile forces, as President Donald Trump warned the US would strike back, "perhaps in a disproportionate manner", if Iran attacked any American person or target. Iraq's parliament on Sunday recommended all foreign troops be ordered out of the country after the US killing of the Iranian military commander and an Iraqi militia leader in a drone strike on a convoy at Baghdad airport. Spot gold gained 1.6 per cent to $1,579.72 per ounce in jittery trade to reach its highest since April 2013. Oil prices extended gains on fears any Middle East conflict could disrupt global supplies. Brent crude futures rose 2.04 per cent to $70 a barrel, while US crude climbed 1.7 per cent to $64.12. European shares extended losses and were set for their worst day in a week, with the pan-European STOXX 600 index down 1.12 per cent by 0838 GMT. The European oil and gas stock index rose about 0.74 per cent and was the sole gainer among its peers, hitting its highest since July. Watch: Equities crash on US-Iran tensions, Nifty sinks below 12,100 × "Geopolitical events by their nature are unpredictable, but previous periods of increased tensions suggest that the impact on wider markets tends to be short-lived, with more lasting effects confined to local markets," said Mark Haefele, chief investment officer at UBS Global Wealth Management. "In general, this supports holding a diversified portfolio." MSCI's All-Country World Index, which tracks shares in 47 countries, was down 0.43 per cent, erasing all its new year gains in its biggest two-day fall since early December. In Asia, Japan's Nikkei slid almost 2 per cent in a sour return from holiday, while E-Mini futures for the S&P 500 fell 0.7 per cent. Chinese shares, which had opened in the red, reversed their losses, as did Australian shares which ended the day flat. Hong Kong's Hang Seng index lost 0.8 per cent. Sovereign bonds benefited from the safety bid with yields on 10-year Treasuries down at 1.7725 per cent having fallen 10 basis points on Friday. The yen remained the favoured safe haven among currencies thanks to Japan's massive holdings of foreign assets. Investors assume Japanese funds would repatriate their money during a truly global crisis, pushing the yen higher. "Iran is almost certainly to respond in some scale, scope and magnitude," said Lee Hardman, currency analyst at MUFG. Therefore "market participants are likely to remain nervous until there is more clarity over how geopolitical tensions between the US and Iran will proceed", Hardman said, noting that geopolitical tensions could hurt global economic growth, especially if the price of oil increases. On Monday, the dollar was last at 107.965 yen, after falling to a three-month trough of 107.77 earlier in the session. The euro likewise eased to 120.61 yen having hit a three-week low. The dollar was steadier against other majors, with the euro a tad firmer at $1.1172. Against a basket of currencies, the dollar was holding at 96.839. The risk-sensitive currencies of Australia and New Zealand were on track for their fourth straight session of losses.

Global Markets: Shares swept new year gains, gold, oil prices jumps on US and Iran trade threats

Wall&nbsp;Street's major indexes fell from record highs on Friday after a <a href="https://www.wionews.com/world/trump-impeachment-row-us-senate-in-stalemate-over-how-to-proceed-272003">US&nbsp;airstrike</a> in Iraq ratcheted up&nbsp;tensions&nbsp;in the&nbsp;Middle&nbsp;East&nbsp;and a bigger-than-expected contraction in the US&nbsp;manufacturing sector raised concerns of slowing economic growth.

Friday's decline put the benchmark <a href="https://www.wionews.com/business-economy/indian-shares-slip-as-oil-jumps-after-us-air-strikes-in-middle-east-271832">S&amp;P&nbsp;500</a>&nbsp;in the red for the week, snapping a five-week&nbsp;winning&nbsp;streak&nbsp;for the index.

Demand for <a href="https://www.wionews.com/business-economy/global-markets-oil-gold-safe-haven-assets-gains-as-us-strike-kills-iranian-commander-271901">safe-haven assets</a> soared as Iran vowed revenge for the killing of Qassem Soleimani, head of its elite Quds Force, in an airstrike authorized by US&nbsp;President Donald Trump.

In a further blow to US&nbsp;market sentiment, data from the Institute for Supply Management showed that US&nbsp;factory activity contracted in December by the most in more than a decade.

"There was a reinforcement of weak manufacturing activity and then you had the geopolitical spark," said Michael Antonelli, market strategist at Robert W. Baird in Milwaukee. "That's on top of the sentiment that the market has been overbought."

S&amp;P&nbsp;500&nbsp;bank stocks dropped 1.6 per cent&nbsp;as the news sent benchmark US&nbsp;bond yields&nbsp;to their lowest since December&nbsp;12.

Shares of airlines also tumbled as oil prices jumped about 3 per cent. American Airlines Group Inc&nbsp;shares dropped 5.0 per cent, while shares of United Airlines Holdings Inc fell 2.1 per cent.

Among the S&amp;P&nbsp;500's 11 major sectors, only real estate and utilities both considered defensive plays, ended higher.

In a sign of investor jitters, US&nbsp;stocks extended their fall following a false report of an attack on a US&nbsp;military base in Iraq.

Shares of US&nbsp;defence companies jumped on news of the airstrike that killed <a href="https://www.wionews.com/world/soleimani-contributed-to-plotting-terror-attacks-in-new-delhi-london-trump-272027">Soleimani</a>. Northrop Grumman Corp&nbsp;shares climbed 5.4 per cent&nbsp;and Lockheed Martin Corp&nbsp;shares rose 3.6 per cent. The two provided the biggest boosts to the S&amp;P&nbsp;500.

The market disturbance following the strike could be fleeting, said Wayne Wicker, a chief investment officer of Vantagepoint Investment Advisers in Washington.

"We've looked at many types of conflicts over the last 20 years, and they've had much more of a short-term impact," Wicker said.

The Dow Jones Industrial Average fell 233.92 points, or 0.81 per cent, to 28,634.88. The S&amp;P&nbsp;500 lost 23 points, or 0.71 per cent, to 3,234.85. The Nasdaq Composite&nbsp;dropped 71.42 points, or 0.79 per cent, to 9,020.77.

For the week, the Dow dipped 0.04 per cent, the S&amp;P&nbsp;500&nbsp;fell 0.17 per cent, and the Nasdaq rose 0.16 per cent.

Among advancers, Tesla Inc&nbsp;shares hit a record high and ended up 3.0 per cent&nbsp;after the automaker beat estimates for vehicle deliveries in the fourth quarter.

Lamb Weston Holdings Inc shares surged 11.3 per cent, the biggest percentage gain on the S&amp;P&nbsp;500, after the frozen foods supplier's quarterly results surpassed estimates.

Shares of retailer L Brands Inc&nbsp;rose 7.8 per cent&nbsp;after Bank of America upgraded its rating on the company's stock.

Declining issues outnumbered advancing ones on the <a href="https://www.wionews.com/business-economy/world-stocks-hit-all-time-high-after-trump-tweets-close-to-china-deal-267973">NYSE</a> by a 1.14-to-1 ratio. On Nasdaq, a 1.71-to-1 ratio favoured decliners.

The S&amp;P&nbsp;500&nbsp;posted 22 new 52-week highs and one new low. The Nasdaq Composite recorded 60 new highs and 15 new lows.

Volume on US&nbsp;exchanges was 7.47 billion shares, compared to the 6.87 billion average for the full session over the last 20 trading days.

Wall Street's major indexes fell from record highs on Friday after a US airstrike in Iraq ratcheted up tensions in the Middle East and a bigger-than-expected contraction in the US manufacturing sector raised concerns of slowing economic growth.

Wall Street's major indexes fell from record highs on Friday after a US airstrike in Iraq ratcheted up tensions in the Middle East and a bigger-than-expected contraction in the US manufacturing sector raised concerns of slowing economic growth. Friday's decline put the benchmark S&P 500 in the red for the week, snapping a five-week winning streak for the index. Demand for safe-haven assets soared as Iran vowed revenge for the killing of Qassem Soleimani, head of its elite Quds Force, in an airstrike authorized by US President Donald Trump. In a further blow to US market sentiment, data from the Institute for Supply Management showed that US factory activity contracted in December by the most in more than a decade. "There was a reinforcement of weak manufacturing activity and then you had the geopolitical spark," said Michael Antonelli, market strategist at Robert W. Baird in Milwaukee. "That's on top of the sentiment that the market has been overbought." S&P 500 bank stocks dropped 1.6 per cent as the news sent benchmark US bond yields to their lowest since December 12. Shares of airlines also tumbled as oil prices jumped about 3 per cent. American Airlines Group Inc shares dropped 5.0 per cent, while shares of United Airlines Holdings Inc fell 2.1 per cent. Among the S&P 500's 11 major sectors, only real estate and utilities both considered defensive plays, ended higher. In a sign of investor jitters, US stocks extended their fall following a false report of an attack on a US military base in Iraq. Shares of US defence companies jumped on news of the airstrike that killed Soleimani. Northrop Grumman Corp shares climbed 5.4 per cent and Lockheed Martin Corp shares rose 3.6 per cent. The two provided the biggest boosts to the S&P 500. The market disturbance following the strike could be fleeting, said Wayne Wicker, a chief investment officer of Vantagepoint Investment Advisers in Washington. "We've looked at many types of conflicts over the last 20 years, and they've had much more of a short-term impact," Wicker said. The Dow Jones Industrial Average fell 233.92 points, or 0.81 per cent, to 28,634.88. The S&P 500 lost 23 points, or 0.71 per cent, to 3,234.85. The Nasdaq Composite dropped 71.42 points, or 0.79 per cent, to 9,020.77. For the week, the Dow dipped 0.04 per cent, the S&P 500 fell 0.17 per cent, and the Nasdaq rose 0.16 per cent. Among advancers, Tesla Inc shares hit a record high and ended up 3.0 per cent after the automaker beat estimates for vehicle deliveries in the fourth quarter. Lamb Weston Holdings Inc shares surged 11.3 per cent, the biggest percentage gain on the S&P 500, after the frozen foods supplier's quarterly results surpassed estimates. Shares of retailer L Brands Inc rose 7.8 per cent after Bank of America upgraded its rating on the company's stock. Declining issues outnumbered advancing ones on the NYSE by a 1.14-to-1 ratio. On Nasdaq, a 1.71-to-1 ratio favoured decliners. The S&P 500 posted 22 new 52-week highs and one new low. The Nasdaq Composite recorded 60 new highs and 15 new lows. Volume on US exchanges was 7.47 billion shares, compared to the 6.87 billion average for the full session over the last 20 trading days.

S&P 500 snaps win streak as Middle East tensions push down Wall Street

Asian shares fell on Friday, erasing <a href="https://www.wionews.com/business-economy/global-markets-china-lifts-asian-shares-oil-up-on-drawdowns-mideast-tensions-270929">early gains</a>, while oil prices spiked after US&nbsp;airstrikes in Iraq killed a top <a href="https://www.wionews.com/world/rocket-attack-on-baghdad-airport-top-iran-commander-killed-271756">Iranian commander</a>, heightening geopolitical tensions.

Iranian Major-General Qassem Soleimani, head of the elite Quds Force and top Iraqi militia commander <a href="https://www.wionews.com/world/deputy-head-of-group-irans-quds-force-head-qasem-soleimani-killed-hashed-al-shaabi-271762">Abu Mahdi al-Muhandis</a> were killed early on Friday in a US&nbsp;air strike on their convoy at Baghdad airport, the Pentagon said.

MSCI's <a href="https://www.wionews.com/business-economy/though-yearly-gains-lag-asian-shares-outperformed-global-peers-in-december-271627">broadest index</a> of Asia-Pacific shares outside Japan had touched its highest point since June 15, 2018 in early trade, but fell after reports of the air strike emerged. It was last down 0.26 per cent.

China's <a href="https://www.wionews.com/business-economy/global-markets-asian-shares-a-sea-of-red-as-hk-chaos-hits-sentiment-261277">CSI300 index</a>, one of the world's best-performing indexes last year, also turned negative, losing 0.25 per cent. Australian shares were 0.66 per cent&nbsp;higher, but that was off earlier highs.

"It remains very unclear exactly what impact (the US&nbsp;strikes) could have on the equity market," said Tapas Strickland, director of economics and markets at National Australia Bank.

"It is significant that one of Iran's top military generals was reported to have been taken out but it all hinges on what Iran does in terms of retaliation," he said.

Middle Eastern tensions upset a rally for the MSCI index, which finished at its highest close in more than 18 months on Thursday.

It had been lifted by a New Year's Day announcement from China's central bank that it would cut the amount of cash that banks must hold as reserves, releasing around 800 billion yuan ($114.87 billion).

Against the backdrop of a thaw in trade relations between the United States and China, <a href="https://www.wionews.com/business-economy/sensex-gains-by-321-points-as-nifty-closes-on-high-record-tata-motors-on-top-winner-271672">global markets</a> had seen renewed appetite for risk assets.

"You have from both a policy and trade perspective a favourable framework for risk assets for the weeks to come," said Frank Benzimra, head of Asia equity strategy at Societe Generale in Hong Kong.

"The issue in our view, and that is the central scenario, is beyond these few weeks, where could we see a further correction?" he said, noting that the United States is unlikely to enjoy further fiscal stimulus before the presidential election in November.

Shares had received further support from data on Thursday showing factory activity in China continued to grow at a solid pace in December, and that business confidence improved.

South Korean factory activity also improved in December, returning to growth after seven straight months of contraction, which analysts saw as a positive sign for global growth.

Markets in Japan remain closed for a national holiday.

Overnight, Wall Street's major indexes notched record highs in their first session of the decade. The Dow Jones Industrial Average rose 1.16 per cent to 28,868.8. The S&amp;P 500 gained 0.84 per cent&nbsp;to 3,257.85 and the Nasdaq Composite added 1.33 per cent&nbsp;to 9,092.19.

But <a href="https://www.wionews.com/business-economy/oil-prices-surge-after-us-strike-kills-iranian-general-271775">US&nbsp;stock</a> futures pointed to a grim day on Friday after the air strikes, with S&amp;P e-minis shedding 0.8 per cent.

While equity markets turned lower, oil prices surged on news of Soleimani's death, with global benchmark Brent crude shooting 3.02 per cent&nbsp;higher to $68.25 per barrel and US&nbsp;West Texas Intermediate crude jumping 2.75 per cent&nbsp;to $62.86 per barrel.

News of the strikes came after US&nbsp;Defense Secretary Mark Esper said on Thursday there were indications Iran or forces it backs may be planning additional attacks after Iranian-backed demonstrators hurled rocks at the US&nbsp;embassy in Baghdad following American strikes on Sunday against bases of the Tehran-backed Kataib Hezbollah group.

<a href="https://www.wionews.com/world/protesters-burn-security-post-at-us-embassy-in-iraq-pentagon-sending-additional-troops-to-region-271333">Esper</a> warned that the "game has changed" and it was possible the United States might have to take preemptive action to protect American lives.

In currency markets, the dollar weakened as investors snapped up safe-haven yen. The greenback fell 0.52 per cent&nbsp;against the Japanese currency to 108.00.

The dollar was flat against the euro at $1.1170.

The <a href="https://www.wionews.com/business-economy/sensex-gains-by-321-points-as-nifty-closes-on-high-record-tata-motors-on-top-winner-271672">dollar index</a>, which tracks the dollar against a basket of six major rivals, was down 0.09 per cent&nbsp;at 96.758.

The US&nbsp;strikes in Iraq and a weaker dollar combined to burnish the value of gold, driving the precious metal 0.75 per cent&nbsp;higher on the spot market to $1,540.25 per ounce, around four-month highs.

Asian shares fell on Friday, erasing early gains, while oil prices spiked after US airstrikes in Iraq killed a top Iranian commander, heightening geopolitical tensions.

Asian shares fell on Friday, erasing early gains, while oil prices spiked after US airstrikes in Iraq killed a top Iranian commander, heightening geopolitical tensions. Iranian Major-General Qassem Soleimani, head of the elite Quds Force and top Iraqi militia commander Abu Mahdi al-Muhandis were killed early on Friday in a US air strike on their convoy at Baghdad airport, the Pentagon said. MSCI's broadest index of Asia-Pacific shares outside Japan had touched its highest point since June 15, 2018 in early trade, but fell after reports of the air strike emerged. It was last down 0.26 per cent. China's CSI300 index, one of the world's best-performing indexes last year, also turned negative, losing 0.25 per cent. Australian shares were 0.66 per cent higher, but that was off earlier highs. "It remains very unclear exactly what impact (the US strikes) could have on the equity market," said Tapas Strickland, director of economics and markets at National Australia Bank. "It is significant that one of Iran's top military generals was reported to have been taken out but it all hinges on what Iran does in terms of retaliation," he said. Middle Eastern tensions upset a rally for the MSCI index, which finished at its highest close in more than 18 months on Thursday. It had been lifted by a New Year's Day announcement from China's central bank that it would cut the amount of cash that banks must hold as reserves, releasing around 800 billion yuan ($114.87 billion). Against the backdrop of a thaw in trade relations between the United States and China, global markets had seen renewed appetite for risk assets. "You have from both a policy and trade perspective a favourable framework for risk assets for the weeks to come," said Frank Benzimra, head of Asia equity strategy at Societe Generale in Hong Kong. "The issue in our view, and that is the central scenario, is beyond these few weeks, where could we see a further correction?" he said, noting that the United States is unlikely to enjoy further fiscal stimulus before the presidential election in November. Shares had received further support from data on Thursday showing factory activity in China continued to grow at a solid pace in December, and that business confidence improved. South Korean factory activity also improved in December, returning to growth after seven straight months of contraction, which analysts saw as a positive sign for global growth. Markets in Japan remain closed for a national holiday. Overnight, Wall Street's major indexes notched record highs in their first session of the decade. The Dow Jones Industrial Average rose 1.16 per cent to 28,868.8. The S&P 500 gained 0.84 per cent to 3,257.85 and the Nasdaq Composite added 1.33 per cent to 9,092.19. But US stock futures pointed to a grim day on Friday after the air strikes, with S&P e-minis shedding 0.8 per cent. While equity markets turned lower, oil prices surged on news of Soleimani's death, with global benchmark Brent crude shooting 3.02 per cent higher to $68.25 per barrel and US West Texas Intermediate crude jumping 2.75 per cent to $62.86 per barrel. News of the strikes came after US Defense Secretary Mark Esper said on Thursday there were indications Iran or forces it backs may be planning additional attacks after Iranian-backed demonstrators hurled rocks at the US embassy in Baghdad following American strikes on Sunday against bases of the Tehran-backed Kataib Hezbollah group. Esper warned that the "game has changed" and it was possible the United States might have to take preemptive action to protect American lives. In currency markets, the dollar weakened as investors snapped up safe-haven yen. The greenback fell 0.52 per cent against the Japanese currency to 108.00. The dollar was flat against the euro at $1.1170. The dollar index, which tracks the dollar against a basket of six major rivals, was down 0.09 per cent at 96.758. The US strikes in Iraq and a weaker dollar combined to burnish the value of gold, driving the precious metal 0.75 per cent higher on the spot market to $1,540.25 per ounce, around four-month highs.

Though early gains Asian shares flatten, oil surged after US air strike in Iraq

Equities continued to rally on the second day of the new calendar year with benchmark indices closing 0.8 per cent higher due to global gains and stellar performance domestically by infrastructure majors. 
 
Finance Minister Nirmala Sitharaman recently announced a Rs 102 lakh crore infrastructure project pipeline for the next five years, a move that is likely to help the country nearly double GDP's size to five trillion dollars by 2025. 
 
The <a href="https://www.wionews.com/business-economy/equity-indices-close-in-the-green-adani-ports-gains-by-31-per-cent-271482">BSE S&amp;P Sensex</a> closed 321 points up at 41,627 while the Nifty 50 edged higher by 100 points at 12,283. 
 
Except for <a href="https://www.wionews.com/business-economy/indian-shares-slip-on-year-end-profit-booking-nifty-set-for-13-jump-in-2019-271230">Nifty IT</a> which wound up 0.03 per cent lower, all sectoral indices at the <a href="https://www.wionews.com/business-economy/equities-begin-2020-on-a-positive-note-led-by-metal-stocks-271361">National Stock Exchange</a> were in the green with Nifty metal shoring up by 2.68 per cent, bank by 1.04 per cent and realty by 0.92 per cent. 
 
Among stocks, auto major <a href="https://www.wionews.com/business-economy/market-closing-sensex-ends-17-points-lower-nifty-at-12256-271060">Tata Motors</a> gained by 5.1 per cent intraday to close at Rs 193.85 after global research firm Citi maintained a buy rating on the stock with a target of Rs 200. The firm has a positive stance on JLR recovery while domestic commercial vehicle and passenger vehicle volumes remained weak in December. 
 
But the overall rally was led by infra-led stocks, especially metal majors. Tata Steel gained by 4.3 per cent, JSW Steel by 3.2 per cent, Vedanta by 3.1 per cent and <a href="https://www.wionews.com/business-economy/sensex-rallies-by-413-points-to-scale-new-high-nifty-closes-at-12165-268755">Hindalco</a> by 2.4 per cent. 
 
Aditya Birla-led UltraTech Cement and Grasim added gains of 4.2 per cent and 3 per cent respectively while engineering major Larsen &amp; Toubro edged higher by 2.6 per cent. Private sector lender IndusInd Bank ticked up by 3.2 per cent. 
 
However, <a href="https://www.wionews.com/business-economy/sensex-falls-by-298-points-psu-banks-underperform-270367">Eicher Motors</a> fell by 2.3 per cent while Bajaj Auto, Bharat Petroleum Corporation, Cipla and Tata Consultancy Services closed in the red. 
 
Meanwhile, <a href="https://www.wionews.com/business-economy/global-markets-asian-shares-lower-as-investors-book-decade-end-profits-271229">Asian shares</a> were buoyed by Chinese markets after Beijing eased monetary policy to support slowing growth. Investors also cheered news that the United States and China will sign a trade pact soon after a year of volatile negotiations between the world's two largest economies. 
 
In China, the <a href="https://www.wionews.com/business-economy/sensex-falls-181-points-to-close-at-4146126-nifty-at-1221455-270010">Shanghai Composite Index</a> was 1.15 per cent higher but Seoul's Kospi began the year down by 1.02 per cent. Markets in Japan were closed for a national holiday. 
 
US President Donald Trump said on Tuesday that phase one of the <a href="https://www.wionews.com/world/us-china-phase-one-trade-deal-to-be-signed-january-15-trump-271308">trade deal</a> with China will be signed on January 15 at the White House, though uncertainty surrounds details about the agreement.

Equities continued to rally on the second day of the new calendar year with benchmark indices closing 0.8 per cent higher due to global gains and stellar performance domestically by infrastructure majors.

Equities continued to rally on the second day of the new calendar year with benchmark indices closing 0.8 per cent higher due to global gains and stellar performance domestically by infrastructure majors. Finance Minister Nirmala Sitharaman recently announced a Rs 102 lakh crore infrastructure project pipeline for the next five years, a move that is likely to help the country nearly double GDP's size to five trillion dollars by 2025. The BSE S&P Sensex closed 321 points up at 41,627 while the Nifty 50 edged higher by 100 points at 12,283. Except for Nifty IT which wound up 0.03 per cent lower, all sectoral indices at the National Stock Exchange were in the green with Nifty metal shoring up by 2.68 per cent, bank by 1.04 per cent and realty by 0.92 per cent. Among stocks, auto major Tata Motors gained by 5.1 per cent intraday to close at Rs 193.85 after global research firm Citi maintained a buy rating on the stock with a target of Rs 200. The firm has a positive stance on JLR recovery while domestic commercial vehicle and passenger vehicle volumes remained weak in December. But the overall rally was led by infra-led stocks, especially metal majors. Tata Steel gained by 4.3 per cent, JSW Steel by 3.2 per cent, Vedanta by 3.1 per cent and Hindalco by 2.4 per cent. Aditya Birla-led UltraTech Cement and Grasim added gains of 4.2 per cent and 3 per cent respectively while engineering major Larsen & Toubro edged higher by 2.6 per cent. Private sector lender IndusInd Bank ticked up by 3.2 per cent. However, Eicher Motors fell by 2.3 per cent while Bajaj Auto, Bharat Petroleum Corporation, Cipla and Tata Consultancy Services closed in the red. Meanwhile, Asian shares were buoyed by Chinese markets after Beijing eased monetary policy to support slowing growth. Investors also cheered news that the United States and China will sign a trade pact soon after a year of volatile negotiations between the world's two largest economies. In China, the Shanghai Composite Index was 1.15 per cent higher but Seoul's Kospi began the year down by 1.02 per cent. Markets in Japan were closed for a national holiday. US President Donald Trump said on Tuesday that phase one of the trade deal with China will be signed on January 15 at the White House, though uncertainty surrounds details about the agreement.

Sensex gains by 321 points as Nifty closes on high record, Tata Motors on top winner

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