Asian stocks rallied on Thursday, bonds nursed losses and oil held onto sharp gains as investors seemed to set aside virus jitters for now and looked ahead to the European Central Bank for reassurance that policy support will continue for some time.

Global Markets: Stocks shrug off virus worries, investors looking ahead to ECB

After Richard Branson’s flight to the edge of space,&nbsp;Virgin Galactic’s shares&nbsp;have fallen back to earth after&nbsp;the firm’s&nbsp;announcement of its plans to sell up to $500m worth stock&nbsp;in a&nbsp;fundraising exercise.&nbsp;

The&nbsp;decision comes&nbsp;just&nbsp;a day&nbsp;after the company’s founder completed&nbsp;the&nbsp;memorable&nbsp;flight.&nbsp;

Although the company’s&nbsp;share price had risen by about 9% in pre-market trading on Monday, it&nbsp;changed course and plummeted by around&nbsp;14% after the&nbsp;announcement, according to a The Guardian report.&nbsp;

In a filing to the US Securities and Exchange Commission,&nbsp;the company revealed it entered into a distribution agency agreement with the Wall Street investment banks Credit Suisse, Morgan Stanley and Goldman Sachs.&nbsp;

The company looks to use the proceeds of the sale 'for general corporate purposes, including working capital, general and administrative matters and capital expenditures for its manufacturing capabilities, development of its spaceship fleet and other infrastructure improvements'.&nbsp;

Calling it an 'experience of a lifetime', Richard Branson said through a live feed, "Congratulations to all our wonderful team at Virgin Galactic for 17 years of hard&nbsp;work to get us this far."&nbsp;&nbsp;

Branson, an entrepreneur known for his range of businesses and his adventurer spirit, said, "As a child, I wanted to go to space". He had been working on his dream since 2004 when he founded Virgin Galactic. However, he feared an end to that dream when an internal issue caused the death of a pilot of a test flight.&nbsp;

(With inputs from agencies)&nbsp;

After Richard Branson’s flight to the edge of space, Virgin Galactic’s shares have fallen back to earth after the firm’s announcement of its plans to sell up to $500m worth stock in a fundraising exercise.

After Richard Branson’s flight to the edge of space, Virgin Galactic’s shares have fallen back to earth after the firm’s announcement of its plans to sell up to $500m worth stock in a fundraising exercise. The decision comes just a day after the company’s founder completed the memorable flight. Although the company’s share price had risen by about 9% in pre-market trading on Monday, it changed course and plummeted by around 14% after the announcement, according to a The Guardian report. In a filing to the US Securities and Exchange Commission, the company revealed it entered into a distribution agency agreement with the Wall Street investment banks Credit Suisse, Morgan Stanley and Goldman Sachs. The company looks to use the proceeds of the sale 'for general corporate purposes, including working capital, general and administrative matters and capital expenditures for its manufacturing capabilities, development of its spaceship fleet and other infrastructure improvements'. Calling it an 'experience of a lifetime', Richard Branson said through a live feed, "Congratulations to all our wonderful team at Virgin Galactic for 17 years of hard work to get us this far." Branson, an entrepreneur known for his range of businesses and his adventurer spirit, said, "As a child, I wanted to go to space". He had been working on his dream since 2004 when he founded Virgin Galactic. However, he feared an end to that dream when an internal issue caused the death of a pilot of a test flight. (With inputs from agencies)

After historic flight, $500m stock sale announcement makes Virgin Galactic’s shares fall  

The stock of Moderna Inc. has climbed to a record high amid growing concern about a contagious variant of Covid-19 in nations including India.&nbsp;

The company said its vaccine produced protective antibodies against the Delta variant first found in India. The highly contagious variant is spreading in several countries, leading to fresh lockdowns. Moderna also became the first foreign vaccine to be approved by India.

Both developments helped in the company's shares to soar. The shares rose as much as 6.9 per cent to $238.40, breaking through the prior intraday record set earlier this month. The trading volume was about 1.2 times the 10-day average as of 12:16 p.m. in New York.

Few analysts had expressed concern about Moderna’s recent surge. This had pushed the company’s market value past $95 billion.&nbsp;

<a href="https://www.wionews.com/india-news/cipla-gets-dcgi-nod-to-import-modernas-covid-vaccine-for-restricted-emergency-use-in-india-sources-394590">Also Read |&nbsp;Cipla gets DCGI nod to import Moderna's Covid vaccine for restricted emergency use in India: Sources</a>

The vaccine stocks for Moderna and BioNTech SE have surged over the past 12 months. Shares of BioNTech hiked around 250 per cent while Moderna gained nearly 280 per cent during the period.

India's drug regulator DCGI has granted permission to Mumbai-based pharmaceutical company Cipla to import.&nbsp;Moderna's COVID-19 vaccine for restricted emergency use in the country.

Moderna's vaccine will be the fourth COVID-19 jab to be available in India after Covishield, Covaxin and Sputnik.

"Drugs Controller General of India (DCGI) has granted permission to Cipla to import Moderna's COVID-19 vaccine for restricted emergency use in the country as per the provisions of the New Drugs and Clinical Trial Rules, 2019 under Drugs and Cosmetics Act,&nbsp; 1940," a source told PTI new agency.

The stock of Moderna Inc. has climbed to a record high amid growing concern about a contagious variant of Covid-19 in nations including India. The company said its vaccine produced protective antibodies against the Delta variant first found in India.

The stock of Moderna Inc. has climbed to a record high amid growing concern about a contagious variant of Covid-19 in nations including India. The company said its vaccine produced protective antibodies against the Delta variant first found in India. The highly contagious variant is spreading in several countries, leading to fresh lockdowns. Moderna also became the first foreign vaccine to be approved by India. Both developments helped in the company's shares to soar. The shares rose as much as 6.9 per cent to $238.40, breaking through the prior intraday record set earlier this month. The trading volume was about 1.2 times the 10-day average as of 12:16 p.m. in New York. Few analysts had expressed concern about Moderna’s recent surge. This had pushed the company’s market value past $95 billion. Also Read | Cipla gets DCGI nod to import Moderna's Covid vaccine for restricted emergency use in India: Sources The vaccine stocks for Moderna and BioNTech SE have surged over the past 12 months. Shares of BioNTech hiked around 250 per cent while Moderna gained nearly 280 per cent during the period. India's drug regulator DCGI has granted permission to Mumbai-based pharmaceutical company Cipla to import. Moderna's COVID-19 vaccine for restricted emergency use in the country. Moderna's vaccine will be the fourth COVID-19 jab to be available in India after Covishield, Covaxin and Sputnik. "Drugs Controller General of India (DCGI) has granted permission to Cipla to import Moderna's COVID-19 vaccine for restricted emergency use in the country as per the provisions of the New Drugs and Clinical Trial Rules, 2019 under Drugs and Cosmetics Act, 1940," a source told PTI new agency.

Moderna shares soar after report that its Covid shot works against Delta variant

It did not look like a very promising investment opportunity.

SpectraScience’s phone number was out of service. So was its website. And it had not disclosed financial results since late 2017, when the San Diego medical equipment company reported a quarterly loss — its 12th in a row.

But early this year, SpectraScience’s nearly worthless shares — priced in hundredths of a penny and too minor to trade on a major stock exchange — sprang to life.

On Jan. 27, their price doubled, with more than 900 million shares traded. The next day, amid a flurry of social media cheerleading, more than 3.5 billion shares of the company changed hands — a volume roughly equal to half that day’s trading on the New York Stock Exchange. After soaring 500% as trading opened, just as quickly SpectraScience collapsed.

Penny stocks — the name given to more than 10,000 tiny companies like SpectraScience — have been around forever, but they are booming as small investors flood the market. And this time around, social media is fueling the craze. Whether traded to fend off the boredom of pandemic living or to turn a quick profit, these dirt-cheap but risky shares are another frontier in a world where meme stocks such as GameStop gained overnight stardom; Dogecoin morphed from a joke cryptocurrency to a hot investment; and a digital artwork known as a nonfungible token, or NFT, sold for $69 million.

It is part of a “massive surge” in retail trading reminiscent of the 1920s, when amateurs flooded into the stock market before the 1929 crash, said Tyler Gellasch, a former Securities and Exchange Commission official who leads the nonprofit Healthy Markets Association.

“The only relevant historical precedent seems to increasingly be the days before the Great Depression,” he said.

Penny stocks occupy a low-rent district of Wall Street, a world rife with fraud and chicanery where companies that do not have a viable product or are mired in debt often sell their shares. Traded on the lightly regulated over-the-counter, or OTC, markets, penny stocks face fewer rules about publishing information on financial results or independent board members. Wall Street analysts do not usually follow them. Major investors do not buy them.

But last month, there were 1.9 trillion transactions on OTC markets, an increase of more than 2,000% from a year earlier, according to data from the Financial Industry Regulatory Authority, a self-regulatory group that oversees brokerage firms.

The lack of oversight that makes penny stocks easy targets for scammers has long accounted for penny stocks' unsavory reputation. But risk can also be a draw for thrill-seekers or those who fear they have missed a market boom that is creating wealth all around them.

And now it is easier than ever to get in on these stocks; commission-free trades and the proliferation of online trading platforms mean small investors do not have to go through a traditional broker.

Because these stocks are so small and lightly traded, a sudden surge of interest can make their prices go berserk. Since the start of the year, shares have soared for companies such as Healthier Choices Management, which operates vape stores; For the Earth, which makes cannabis-based sunscreen; and Garb Oil &amp; Power, which, despite its name, spotlighted its planned purchase of a manufacturer of marijuana pipes in one of its most recent business operation updates. (It was published in 2014.)

“Everyone wants to get rich,” said Jordan Belfort, whose memoir, “The Wolf of Wall Street,” detailed his debauched life as cheap-stock kingpin, complete with helicopter crashes, sunken yachts and copious quaaludes. “And they want to get rich quick.”

Belfort, now a motivational speaker and writer living in Los Angeles, presided over Stratton Oakmont, one of the notorious “boiler rooms” that manipulated penny stocks to prey on unwitting retail investors before it went out of business in 1996.

“We all want to believe in Santa Claus, the Tooth Fairy and Bernie Madoff,” he said.

Just as they were in Belfort’s heyday, penny stocks remain the backbone of schemes to part newbie traders from their cash. Consider one perennially popular racket: the pump and dump.

First, fraudsters load up on ultracheap shares of a small stock hardly anyone trades. Then comes the pump: They pitch the stock as one with hot prospects, spreading around positive information to push up its price. Finally, there is the dump: After the price jumps higher, the perpetrator sells and leaves the new buyers holding a mostly empty bag.

“It’s all just a pool filled with sharks,” said Urska Velikonja, a law professor who studies securities regulation at Georgetown University Law Center. “It’s where the unwary go to get eaten.”

Booms in penny stock tend to occur during raging bull markets, when greed abounds. They were hot in the 1980s, when the arrival of cheap, long-distance telephone service gave rise to brokerage firms that specialized in high-pressure, cold-call pitches of worthless stocks.

That was the specialty of Blinder, Robinson &amp; Co., which was led by Meyer Blinder, a New York broker with a flamboyant reputation. In the mid-1980s, it became the largest penny stock brokerage in the country. But by 1990, it had been liquidated, and by 1992, Blinder had been convicted of racketeering and securities fraud. After his conviction was announced, he lunged at a prosecutor, threatening to kill him.

But stock-touting technology changes with the times. Cold-calling went out, followed by faxes and email spam. Today, social media sites such as Twitter and Reddit, which powered the rise of GameStop and other meme stocks, are the preferred method for building unwarranted hype.

According to a civil complaint filed this month by the SEC, Andrew Fassari of Irvine, California, used his Twitter account — OCMillionaire — to pump up the price of Arcis Resources, a company that has not conducted business since at least 2016 but whose stock still trades. Fassari, regulators said, bought 41 million shares of the company and then posted misleading information, including fictitious emails from the company’s purported CEO about expansion plans. Over nine days in December, the share price skyrocketed more than 4,000% — to more than a nickel. Fassari’s gains were $929,000, according to the agency.

Fassari’s lawyer, Jessica Munk, said he denied wrongdoing. “It appears Mr. Fassari has been hit with fallout from the GameStop, Robinhood, Reddit controversy,” Munk said in a statement, including a reference to the Robinhood trading app. She also noted the SEC action’s “lightning pace.”

Art Hutchinson, a 50-year-old construction services salesperson in Fort Worth, Texas, has been making bets on penny stocks — companies that he acknowledges are “absolute garbage” — for about two years. And the activity he watches closely is increasingly being driven by social media, he said.

“Everybody is on Twitter, whatever, these social media accounts, and they’re all lying,” he said. “They’re preying upon people not doing any research on their own or not understanding it.”

A 2017 paper from Thomas Renault, a finance professor at the University Paris 1 Panthéon-Sorbonne, analyzed millions of Twitter messages about low-priced stocks. A surge in tweets about a small stock led to big price increases followed by sudden collapses, he found, saying the pattern was consistent with pump-and-dump schemes.

Regulators appear to be taking some steps to tamp down on such activity. Weeks after SpectraScience crashed, the SEC temporarily suspended trading of the stock, citing “potentially manipulative trading activity.” It was one of nearly two dozen stock tickers sidelined for similarly suspicious trading by late February.

“We proactively monitor for suspicious trading activity tied to stock promotions on social media, and act quickly to stop that trading when appropriate to safeguard the public interest,” Melissa Hodgman, acting director of the SEC’s Division of Enforcement, said in an announcement.

Current and former regulators say penny stock fraud will remain as long as penny stocks are traded.

“Whatever you do, don’t claim victory, because it’ll come back,” said Joseph Goldstein, a partner at Murphy &amp; McGonigle, a financial services law firm. In the late 1980s, Goldstein led the SEC’s task force on penny stocks amid a surge of frauds in the market.

“It’s not going away, basically, because it’s greed,” he said. “I don’t think there will be a successful effort to end greed in this world.”

It did not look like a very promising investment opportunity. SpectraScience’s phone number was out of service. So was its website. And it had not disclosed financial results since late 2017, when the San Diego medical equipment company reported a quarterly loss — its 12th in a row.

It did not look like a very promising investment opportunity. SpectraScience’s phone number was out of service. So was its website. And it had not disclosed financial results since late 2017, when the San Diego medical equipment company reported a quarterly loss — its 12th in a row. But early this year, SpectraScience’s nearly worthless shares — priced in hundredths of a penny and too minor to trade on a major stock exchange — sprang to life. On Jan. 27, their price doubled, with more than 900 million shares traded. The next day, amid a flurry of social media cheerleading, more than 3.5 billion shares of the company changed hands — a volume roughly equal to half that day’s trading on the New York Stock Exchange. After soaring 500% as trading opened, just as quickly SpectraScience collapsed. Penny stocks — the name given to more than 10,000 tiny companies like SpectraScience — have been around forever, but they are booming as small investors flood the market. And this time around, social media is fueling the craze. Whether traded to fend off the boredom of pandemic living or to turn a quick profit, these dirt-cheap but risky shares are another frontier in a world where meme stocks such as GameStop gained overnight stardom; Dogecoin morphed from a joke cryptocurrency to a hot investment; and a digital artwork known as a nonfungible token, or NFT, sold for $69 million. It is part of a “massive surge” in retail trading reminiscent of the 1920s, when amateurs flooded into the stock market before the 1929 crash, said Tyler Gellasch, a former Securities and Exchange Commission official who leads the nonprofit Healthy Markets Association. “The only relevant historical precedent seems to increasingly be the days before the Great Depression,” he said. Penny stocks occupy a low-rent district of Wall Street, a world rife with fraud and chicanery where companies that do not have a viable product or are mired in debt often sell their shares. Traded on the lightly regulated over-the-counter, or OTC, markets, penny stocks face fewer rules about publishing information on financial results or independent board members. Wall Street analysts do not usually follow them. Major investors do not buy them. But last month, there were 1.9 trillion transactions on OTC markets, an increase of more than 2,000% from a year earlier, according to data from the Financial Industry Regulatory Authority, a self-regulatory group that oversees brokerage firms. The lack of oversight that makes penny stocks easy targets for scammers has long accounted for penny stocks' unsavory reputation. But risk can also be a draw for thrill-seekers or those who fear they have missed a market boom that is creating wealth all around them. And now it is easier than ever to get in on these stocks; commission-free trades and the proliferation of online trading platforms mean small investors do not have to go through a traditional broker. Because these stocks are so small and lightly traded, a sudden surge of interest can make their prices go berserk. Since the start of the year, shares have soared for companies such as Healthier Choices Management, which operates vape stores; For the Earth, which makes cannabis-based sunscreen; and Garb Oil & Power, which, despite its name, spotlighted its planned purchase of a manufacturer of marijuana pipes in one of its most recent business operation updates. (It was published in 2014.) “Everyone wants to get rich,” said Jordan Belfort, whose memoir, “The Wolf of Wall Street,” detailed his debauched life as cheap-stock kingpin, complete with helicopter crashes, sunken yachts and copious quaaludes. “And they want to get rich quick.” Belfort, now a motivational speaker and writer living in Los Angeles, presided over Stratton Oakmont, one of the notorious “boiler rooms” that manipulated penny stocks to prey on unwitting retail investors before it went out of business in 1996. “We all want to believe in Santa Claus, the Tooth Fairy and Bernie Madoff,” he said. Just as they were in Belfort’s heyday, penny stocks remain the backbone of schemes to part newbie traders from their cash. Consider one perennially popular racket: the pump and dump. First, fraudsters load up on ultracheap shares of a small stock hardly anyone trades. Then comes the pump: They pitch the stock as one with hot prospects, spreading around positive information to push up its price. Finally, there is the dump: After the price jumps higher, the perpetrator sells and leaves the new buyers holding a mostly empty bag. “It’s all just a pool filled with sharks,” said Urska Velikonja, a law professor who studies securities regulation at Georgetown University Law Center. “It’s where the unwary go to get eaten.” Booms in penny stock tend to occur during raging bull markets, when greed abounds. They were hot in the 1980s, when the arrival of cheap, long-distance telephone service gave rise to brokerage firms that specialized in high-pressure, cold-call pitches of worthless stocks. That was the specialty of Blinder, Robinson & Co., which was led by Meyer Blinder, a New York broker with a flamboyant reputation. In the mid-1980s, it became the largest penny stock brokerage in the country. But by 1990, it had been liquidated, and by 1992, Blinder had been convicted of racketeering and securities fraud. After his conviction was announced, he lunged at a prosecutor, threatening to kill him. But stock-touting technology changes with the times. Cold-calling went out, followed by faxes and email spam. Today, social media sites such as Twitter and Reddit, which powered the rise of GameStop and other meme stocks, are the preferred method for building unwarranted hype. According to a civil complaint filed this month by the SEC, Andrew Fassari of Irvine, California, used his Twitter account — OCMillionaire — to pump up the price of Arcis Resources, a company that has not conducted business since at least 2016 but whose stock still trades. Fassari, regulators said, bought 41 million shares of the company and then posted misleading information, including fictitious emails from the company’s purported CEO about expansion plans. Over nine days in December, the share price skyrocketed more than 4,000% — to more than a nickel. Fassari’s gains were $929,000, according to the agency. Fassari’s lawyer, Jessica Munk, said he denied wrongdoing. “It appears Mr. Fassari has been hit with fallout from the GameStop, Robinhood, Reddit controversy,” Munk said in a statement, including a reference to the Robinhood trading app. She also noted the SEC action’s “lightning pace.” Art Hutchinson, a 50-year-old construction services salesperson in Fort Worth, Texas, has been making bets on penny stocks — companies that he acknowledges are “absolute garbage” — for about two years. And the activity he watches closely is increasingly being driven by social media, he said. “Everybody is on Twitter, whatever, these social media accounts, and they’re all lying,” he said. “They’re preying upon people not doing any research on their own or not understanding it.” A 2017 paper from Thomas Renault, a finance professor at the University Paris 1 Panthéon-Sorbonne, analyzed millions of Twitter messages about low-priced stocks. A surge in tweets about a small stock led to big price increases followed by sudden collapses, he found, saying the pattern was consistent with pump-and-dump schemes. Regulators appear to be taking some steps to tamp down on such activity. Weeks after SpectraScience crashed, the SEC temporarily suspended trading of the stock, citing “potentially manipulative trading activity.” It was one of nearly two dozen stock tickers sidelined for similarly suspicious trading by late February. “We proactively monitor for suspicious trading activity tied to stock promotions on social media, and act quickly to stop that trading when appropriate to safeguard the public interest,” Melissa Hodgman, acting director of the SEC’s Division of Enforcement, said in an announcement. Current and former regulators say penny stock fraud will remain as long as penny stocks are traded. “Whatever you do, don’t claim victory, because it’ll come back,” said Joseph Goldstein, a partner at Murphy & McGonigle, a financial services law firm. In the late 1980s, Goldstein led the SEC’s task force on penny stocks amid a surge of frauds in the market. “It’s not going away, basically, because it’s greed,” he said. “I don’t think there will be a successful effort to end greed in this world.”

Penny stocks are booming, which is good news for swindlers

Domestic stock markets opened at record highs on Wednesday following a rally in global markets as coronavirus vaccine hopes and fading uncertainty in US politics boosted sentiment.&nbsp;

The Sensex rose as much as 302 points to its new high of 44,825 while the Nifty rose 91 points to its all-time high of 13,145.85.&nbsp;

ONGC, IndusInd Bank, Tata Motors and HDFC Bank are the top gainers while HDFC Bank, HDFC and Reliance Industries are the most active stocks.

(With inputs from agencies)

Domestic stock markets opened at record highs on Wednesday following a rally in global markets as coronavirus vaccine hopes and fading uncertainty in US politics boosted sentiment.

Domestic stock markets opened at record highs on Wednesday following a rally in global markets as coronavirus vaccine hopes and fading uncertainty in US politics boosted sentiment. The Sensex rose as much as 302 points to its new high of 44,825 while the Nifty rose 91 points to its all-time high of 13,145.85. ONGC, IndusInd Bank, Tata Motors and HDFC Bank are the top gainers while HDFC Bank, HDFC and Reliance Industries are the most active stocks. (With inputs from agencies)

Indian stock markets trade higher with Nifty above 13,100

Tesla shares on Tuesday closed down 21.06 per cent, making it the worst one-day loss on record. After a steep fall in shares, the company’s market valuation has gone down by roughly $82 billion to $307.7 billion.

According to Forbes, Tesla founder and CEO Elon Musk's wealth too witnessed a fall by $16 billion.&nbsp;

This year, Tesla has witnessed a rise in stocks after rising around 300 per cent due to which the company is now worth more than some of the world's largest automakers, including Toyota and Volkswagen.

<a href="https://www.wionews.com/world/elon-musk-becomes-worlds-third-richest-man-bezos-ex-wife-now-worlds-richest-woman-324475">Also read|&nbsp;Elon Musk becomes world's third richest man; Bezos' ex-wife now world's richest woman</a>

The S&amp;P 500 Index Committee on Friday decided to add e-commerce site Etsy, automatic test equipment maker Teradyne and pharmaceutical firm Catalent to the S&amp;P 500 but stopped short of including Tesla.

After Tesla reported its fourth consecutive quarter of profitability in July, some investors expected the company to be included this quarter. Following the news, the company's stock dropped 7 per cent after hours on Friday.&nbsp;

The American markets were closed on Monday because of Labor Day.&nbsp;

Last month, Tesla split its stock 5-to-1, this move by the company saw a significant rise in the value despite having no fundamental impact on the stock. However, it declined a few days later after its largest shareholder, Baillie Gifford cut its stake in the company. According to Gifford, the reduction in ownership was merely down to portfolio restrictions.

Tesla shares on Tuesday closed down 21.06 per cent, making it the worst one-day loss on record. After a steep fall in shares, the company’s market valuation has gone down by roughly $82 billion to $307.

Tesla shares on Tuesday closed down 21.06 per cent, making it the worst one-day loss on record. After a steep fall in shares, the company’s market valuation has gone down by roughly $82 billion to $307.7 billion. According to Forbes, Tesla founder and CEO Elon Musk's wealth too witnessed a fall by $16 billion. This year, Tesla has witnessed a rise in stocks after rising around 300 per cent due to which the company is now worth more than some of the world's largest automakers, including Toyota and Volkswagen. Also read| Elon Musk becomes world's third richest man; Bezos' ex-wife now world's richest woman The S&P 500 Index Committee on Friday decided to add e-commerce site Etsy, automatic test equipment maker Teradyne and pharmaceutical firm Catalent to the S&P 500 but stopped short of including Tesla. After Tesla reported its fourth consecutive quarter of profitability in July, some investors expected the company to be included this quarter. Following the news, the company's stock dropped 7 per cent after hours on Friday. The American markets were closed on Monday because of Labor Day. Last month, Tesla split its stock 5-to-1, this move by the company saw a significant rise in the value despite having no fundamental impact on the stock. However, it declined a few days later after its largest shareholder, Baillie Gifford cut its stake in the company. According to Gifford, the reduction in ownership was merely down to portfolio restrictions.

Elon Musk's Tesla witnesses worst single-day loss in its history; company plunges by 21%

Shares of Eastman Kodak Co sank by 27.9% on Tuesday after its $765-million loan agreement with the American government was put on hold. The company was slated to produce pharmaceutical ingredients but was stopped due “recent allegations of wrongdoing”.

Kodak, the famous maker of cameras and shooting equipment had recently stepped into the medicine industry. With camera sales on the decline, as smartphones now come equipped with high-tech camera&nbsp;technology, Kodak was eyeing the loan from the US government.

Basic ingredients&nbsp;

The company was set to produce the basic ingredients used in coronavirus drugs, especially used to treat the symptoms.

The US government had announced the loan on July 29 in a bid to reduce dependence on foreign countries for medical supplies. Most countries receive medicines from India and other Asian countries. However, with no 100 per cent effective medicine in the ropes, this remains a hit-and-trial effort.

Also read:&nbsp;<a href="https://www.wionews.com/world/modernas-covid-19-vaccine-worked-well-in-monkeys-study-316662" hreflang="en">Moderna's COVID-19 vaccine worked well in monkeys: Study</a>

In the aftermath of this announcement in July, the shares of the company had jumped by 60 per cent. Multiple Pharma companies are currently working on vaccines, with large-scale trials already underway. Russia, for instance, may make its state-backed vaccine public as early as September, making it the first in any country.

Alarm bells

Alarm bells rang when Democratic lawmakers asked federal regulators to investigate securities transactions made by the company and its executives.

Donald Trump promised to investigate the allegations go wrongdoings.

"Recent allegations of wrongdoing raise serious concerns," US International Development Finance Corp (DFC) tweeted on Friday.

Also read:&nbsp;<a href="https://www.wionews.com/world/uk-signs-up-for-sanofi-gsk-coronavirus-vaccine-316677" hreflang="en">UK signs up for Sanofi-GSK coronavirus vaccine</a>

Earlier, another camera making company Fujifilm moved on to the Pharma industry. The Japanese company has begun experiments on vaccines, with trials underway.

Kodak dates back to 1888, when it was founded as “The Eastman Kodak Company” by George Eastman. Owing to its classic cameras, it became a global household name for photography.

Owing to the shift in the industry which now favours digital photography, the company has struggled over the last two decades. In 2012, the company filed for bankruptcy protection in the US. It started making drug ingredients four years ago, but hadn’t thought of expanding production until after the pandemic hit.

Shares of Eastman Kodak Co sank by 27.9% on Tuesday after its $765-million loan agreement with the American government was put on hold. The company was slated to produce pharmaceutical ingredients but was stopped due “recent allegations of wrongdoing”.

Shares of Eastman Kodak Co sank by 27.9% on Tuesday after its $765-million loan agreement with the American government was put on hold. The company was slated to produce pharmaceutical ingredients but was stopped due “recent allegations of wrongdoing”. Kodak, the famous maker of cameras and shooting equipment had recently stepped into the medicine industry. With camera sales on the decline, as smartphones now come equipped with high-tech camera technology, Kodak was eyeing the loan from the US government. Basic ingredients The company was set to produce the basic ingredients used in coronavirus drugs, especially used to treat the symptoms. The US government had announced the loan on July 29 in a bid to reduce dependence on foreign countries for medical supplies. Most countries receive medicines from India and other Asian countries. However, with no 100 per cent effective medicine in the ropes, this remains a hit-and-trial effort. Also read: Moderna's COVID-19 vaccine worked well in monkeys: Study In the aftermath of this announcement in July, the shares of the company had jumped by 60 per cent. Multiple Pharma companies are currently working on vaccines, with large-scale trials already underway. Russia, for instance, may make its state-backed vaccine public as early as September, making it the first in any country. Alarm bells Alarm bells rang when Democratic lawmakers asked federal regulators to investigate securities transactions made by the company and its executives. Donald Trump promised to investigate the allegations go wrongdoings. "Recent allegations of wrongdoing raise serious concerns," US International Development Finance Corp (DFC) tweeted on Friday. Also read: UK signs up for Sanofi-GSK coronavirus vaccine Earlier, another camera making company Fujifilm moved on to the Pharma industry. The Japanese company has begun experiments on vaccines, with trials underway. Kodak dates back to 1888, when it was founded as “The Eastman Kodak Company” by George Eastman. Owing to its classic cameras, it became a global household name for photography. Owing to the shift in the industry which now favours digital photography, the company has struggled over the last two decades. In 2012, the company filed for bankruptcy protection in the US. It started making drug ingredients four years ago, but hadn’t thought of expanding production until after the pandemic hit.

Kodak stocks plunge by almost 30% as loan by US govt is put on hold

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

Domestic stock market indices ended the day in red on Friday dragged by heavyweights like Reliance Industries, HDFC Bank, Kotak Mahindra Bank and auto stocks.

The S&amp;P BSE Sensex ended 129 points or 0.34 per cent lower at 37,607 while the Nifty50 index gave up the 11,100-mark to settle at 11,073, down 29 points or 0.26 per cent.

Broader markets outperformed the benchmarks, Nifty Midcap100 and Nifty Smallcap100 indexes ended the day in green, up 0.43 percent and 0.83 percent higher respectively.

Nifty Pharma remained the best-performing index of the day, up 3.56 percent followed by Nifty Metal and Nifty FMCG. Nifty Media was the worst-performing index of the day, closing 0.87 percent lower.

Global markets

Asian shares turned lower in a choppy session on Friday as abysmal economic data from the United States and rising global Covid-19 cases darkened the mood, despite strong US tech earnings and manufacturing recoveries in China and Japan.

European shares were expected to open broadly lower across the board, with Euro Stoxx 50 futures down 0.28 per cent, German DAX futures 0.49 per cent lower and FTSE futures off 0.08 per cent.

The US dollar was also set for its worst month in a decade amid expectations the Fed will maintain its ultra-loose monetary policy for years.

In commodities, oil prices rose and were on track for monthly gains, boosted by a weaker dollar in the face of continuing concerns over the recovery of the US economy as the coronavirus ravages the world’s biggest economy and oil consumer.

(With inputs from agencies)

Domestic stock market indices ended the day in red on Friday dragged by heavyweights like Reliance Industries, HDFC Bank, Kotak Mahindra Bank and auto stocks. The S&P BSE Sensex ended 129 points or 0.

Domestic stock market indices ended the day in red on Friday dragged by heavyweights like Reliance Industries, HDFC Bank, Kotak Mahindra Bank and auto stocks. The S&P BSE Sensex ended 129 points or 0.34 per cent lower at 37,607 while the Nifty50 index gave up the 11,100-mark to settle at 11,073, down 29 points or 0.26 per cent. Broader markets outperformed the benchmarks, Nifty Midcap100 and Nifty Smallcap100 indexes ended the day in green, up 0.43 percent and 0.83 percent higher respectively. Nifty Pharma remained the best-performing index of the day, up 3.56 percent followed by Nifty Metal and Nifty FMCG. Nifty Media was the worst-performing index of the day, closing 0.87 percent lower. Global markets Asian shares turned lower in a choppy session on Friday as abysmal economic data from the United States and rising global Covid-19 cases darkened the mood, despite strong US tech earnings and manufacturing recoveries in China and Japan. European shares were expected to open broadly lower across the board, with Euro Stoxx 50 futures down 0.28 per cent, German DAX futures 0.49 per cent lower and FTSE futures off 0.08 per cent. The US dollar was also set for its worst month in a decade amid expectations the Fed will maintain its ultra-loose monetary policy for years. In commodities, oil prices rose and were on track for monthly gains, boosted by a weaker dollar in the face of continuing concerns over the recovery of the US economy as the coronavirus ravages the world’s biggest economy and oil consumer. (With inputs from agencies)

Sensex slips 129 points, Nifty ends at 11,073

A China-driven rally in global share, Indian shares closed higher today with banking stocks, automobile stocks gained. Watch report.

Fineprint: China-driven rally in global shares | Bank, auto shares climb

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

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

Shares in India's Yes Bank plunged as much as 85 per cent on Friday after the central bank seized control and imposed withdrawal limits to prevent the collapse of the country's fourth-largest lender.

The move by the Reserve Bank of India (RBI) sparked a sell-off across the troubled banking sector and sent the rupee falling to its weakest level since 2018.

People queued outside Yes Bank branches after the announcement late Thursday that customers can only withdraw 50,000 rupees over the next 30 days while the RBI tries to put together a rescue.

The news added to liquidity concerns about India's financial system more than a year after the near-collapse of IL&amp;FS, one of the nation's biggest "shadow banks" -- finance houses responsible for significant consumer lending.

Also read:&nbsp;<a href="https://www.wionews.com/business-economy/rbi-imposes-moratorium-on-yes-bank-withdrawals-capped-to-rs-50000-284590">RBI imposes 'moratorium' on Yes Bank; withdrawals capped to Rs 50,000</a>

A resulting reluctance of banks to lend money has exacerbated the woes of Asia's third-biggest economy, with growth slowing for seven consecutive quarters before picking up with a meagre 4.7-per cent expansion in the final three months of 2019.

Yes Bank's exposure to the shadow banking sector is particularly large and it has been struggling for some time to raise fresh capital to free itself of a mountain of bad loans in order to quell worries about its viability.

"Investors have turned risk-averse and the contagion is likely to hit smaller bank and non-bank finance companies," said Abhimanyu Sofat at IIFL Securities.&nbsp;

"How soon the RBI finalises the rescue plan is key as persistent operational curbs increase uncertainty," Sofat told Bloomberg News.

Also see:<a href="https://www.wionews.com/india-news/supreme-court-allows-trade-in-cryptocurrencies-quashes-rbi-curb-284158">&nbsp;Supreme Court allows trade in cryptocurrencies, quashes RBI curb</a>

The RBI put the blame on "serious governance issues and practices in recent years" but said there was "no need to panic".

However, customers waiting to get their money were far from reassuring.

"It's not clear at the moment, and that is making some people panic a bit. Even I am at the moment," Devika, a student and Yes Bank account holder, told AFP as she queued to withdraw money in New Delhi.

"I had purchased 15 shares of Yes Bank at 150 rupees per share and now they are at 15 rupees. It's a huge dent on my investments and even my deposits are locked in," Varsha Gandhi, a Mumbai-based lawyer told the sources.

Watch:&nbsp;

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"I am just waiting to see if RBI's moves will have any positive impact. But it's a huge loss as the stocks have tanked," 27-year-old Gandhi added.&nbsp;

RBI governor Shaktikanta Das also tried to reassure account holders.

"The 30 days which we have given is the outer limit, you will see very swift action from the RBI to put in place a scheme to revive Yes Bank," he told reporters in the financial capital Mumbai on Friday.&nbsp;

According to media reports, the RBI was attempting to cobble together a rescue that included State Bank of India (SBI), the country's largest lender, and other financial institutions.

"There are legitimate questions being raised about the bank's balance sheet, ability to raise capital and the central bank and SBI may have to take quick steps to revive it in the next few days," Ashutosh Datar, an independent economist in Mumbai, told sources.

"The next few weeks are crucial for Yes Bank's survival," said Sameer Narang, an economist at State Bank of Baroda.

By early afternoon in Mumbai, Yes Bank shares had recovered slightly but were still down 59 per cent at 15.20 rupees.

Shares in India's Yes Bank plunged as much as 85 per cent on Friday after the central bank seized control and imposed withdrawal limits to prevent the collapse of the country's fourth-largest lender.

Shares in India's Yes Bank plunged as much as 85 per cent on Friday after the central bank seized control and imposed withdrawal limits to prevent the collapse of the country's fourth-largest lender. The move by the Reserve Bank of India (RBI) sparked a sell-off across the troubled banking sector and sent the rupee falling to its weakest level since 2018. People queued outside Yes Bank branches after the announcement late Thursday that customers can only withdraw 50,000 rupees over the next 30 days while the RBI tries to put together a rescue. The news added to liquidity concerns about India's financial system more than a year after the near-collapse of IL&FS, one of the nation's biggest "shadow banks" -- finance houses responsible for significant consumer lending. Also read: RBI imposes 'moratorium' on Yes Bank; withdrawals capped to Rs 50,000 A resulting reluctance of banks to lend money has exacerbated the woes of Asia's third-biggest economy, with growth slowing for seven consecutive quarters before picking up with a meagre 4.7-per cent expansion in the final three months of 2019. Yes Bank's exposure to the shadow banking sector is particularly large and it has been struggling for some time to raise fresh capital to free itself of a mountain of bad loans in order to quell worries about its viability. "Investors have turned risk-averse and the contagion is likely to hit smaller bank and non-bank finance companies," said Abhimanyu Sofat at IIFL Securities. "How soon the RBI finalises the rescue plan is key as persistent operational curbs increase uncertainty," Sofat told Bloomberg News. Also see: Supreme Court allows trade in cryptocurrencies, quashes RBI curb The RBI put the blame on "serious governance issues and practices in recent years" but said there was "no need to panic". However, customers waiting to get their money were far from reassuring. "It's not clear at the moment, and that is making some people panic a bit. Even I am at the moment," Devika, a student and Yes Bank account holder, told AFP as she queued to withdraw money in New Delhi. "I had purchased 15 shares of Yes Bank at 150 rupees per share and now they are at 15 rupees. It's a huge dent on my investments and even my deposits are locked in," Varsha Gandhi, a Mumbai-based lawyer told the sources. Watch: × "I am just waiting to see if RBI's moves will have any positive impact. But it's a huge loss as the stocks have tanked," 27-year-old Gandhi added. RBI governor Shaktikanta Das also tried to reassure account holders. "The 30 days which we have given is the outer limit, you will see very swift action from the RBI to put in place a scheme to revive Yes Bank," he told reporters in the financial capital Mumbai on Friday. According to media reports, the RBI was attempting to cobble together a rescue that included State Bank of India (SBI), the country's largest lender, and other financial institutions. "There are legitimate questions being raised about the bank's balance sheet, ability to raise capital and the central bank and SBI may have to take quick steps to revive it in the next few days," Ashutosh Datar, an independent economist in Mumbai, told sources. "The next few weeks are crucial for Yes Bank's survival," said Sameer Narang, an economist at State Bank of Baroda. By early afternoon in Mumbai, Yes Bank shares had recovered slightly but were still down 59 per cent at 15.20 rupees.

Shares in India's Yes Bank crash on withdrawal limits

Consequences of the Coronavirus - Air travel is restricted, international business close down

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.

The NSE <a href="https://www.wionews.com/business-economy/nifty-sensex-settle-near-record-highs-after-us-china-trade-deal-274691">Nifty 50 Index</a> ended 0.1 per cent&nbsp;higher at 12,355.5, while the S&amp;P BSE&nbsp;<a href="https://www.wionews.com/business-economy/nifty-sensex-close-at-record-highs-274225">Sensex&nbsp;index</a> settled 0.14 per cent higher at 41,932.56. The Nifty and&nbsp;Sensex&nbsp;had earlier in the day hit record highs of 12,389.05 and 42,059.45, respectively.

Automaker <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">Eicher Motors Ltd</a> was the top gainer on the Nifty, climbing 4.42 per cent&nbsp;on its best day in three months.

Nestle India 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 <a href="https://www.wionews.com/business-economy/sensex-jumps-634-points-as-us-iran-tensions-ease-auto-and-realty-stocks-gain-273229">GAIL</a> (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. 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

Indian stock market indices Sensex and Nifty on Thursday rose up to fresh highs after US-China signed an initial trade deal which helped them reduce tensions in the ongoing trade war. The investors shifted focus to domestic corporate earnings.

The BSE Sensex opened at 41,959.19, climbing 86 points from the last closing. Nifty too, has jumped to its record high of 12,357.

At 10.50 am Sensex was up by 52 points at 41,924.79 and Nifty at 12,349.50.

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Private-sector lender Yes Bank Ltd, up as much as 2.3%, was the top gainer on the Nifty. Drugmaker Sun Pharmaceutical Industries Ltd climbed 1.3% to a near seven-week high.

Cable television company DEN Networks Ltd jumped 5% to its highest since Sept. 25, 2019, after reporting a profit for the December quarter, compared with a loss last year.

The Nifty Metal index dropped 0.9%. Miner Vedanta Ltd, the biggest loser in the Nifty index, dropped as much as 1.8%, while Tata Steel Ltd and JSW Steel Ltd declined 1.2 per cent and 1.8 per cent, respectively.

(With inputs from agencies)

Indian stock market indices Sensex and Nifty on Thursday rose up to fresh highs after US-China signed an initial trade deal which helped them reduce tensions in the ongoing trade war.

Indian stock market indices Sensex and Nifty on Thursday rose up to fresh highs after US-China signed an initial trade deal which helped them reduce tensions in the ongoing trade war. The investors shifted focus to domestic corporate earnings. The BSE Sensex opened at 41,959.19, climbing 86 points from the last closing. Nifty too, has jumped to its record high of 12,357. At 10.50 am Sensex was up by 52 points at 41,924.79 and Nifty at 12,349.50. Private-sector lender Yes Bank Ltd, up as much as 2.3%, was the top gainer on the Nifty. Drugmaker Sun Pharmaceutical Industries Ltd climbed 1.3% to a near seven-week high. Cable television company DEN Networks Ltd jumped 5% to its highest since Sept. 25, 2019, after reporting a profit for the December quarter, compared with a loss last year. The Nifty Metal index dropped 0.9%. Miner Vedanta Ltd, the biggest loser in the Nifty index, dropped as much as 1.8%, while Tata Steel Ltd and JSW Steel Ltd declined 1.2 per cent and 1.8 per cent, respectively. (With inputs from agencies)

Sensex hits 42,000 for first time, Nifty at a record high

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

Indian shares rose on Friday, tracking global markets, as <a href="https://www.wionews.com/opinions/could-iran-us-tensions-mean-troubled-waters-ahead-in-the-strait-of-hormuz-273207">US-Iran tensions</a> abated and investors looked for domestic cues ahead of corporate earnings.

The NSE&nbsp;Nifty&nbsp;50 index inched up 0.16 per cent&nbsp;to 12,234.25 by 0413 GMT, while 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">S&amp;P BSE Sensex</a> was 0.14 per cent&nbsp;higher at 41,511.58. The&nbsp;Nifty&nbsp;50 and Sensex are headed for a weekly gain of around 0.5 per cent&nbsp;each.

Meanwhile, easing oil prices came as a relief for investors in India, the world's third-biggest oil consumer. <a href="https://www.wionews.com/india-news/fresh-hike-in-petrol-diesel-prices-in-india-273300">Brent crude</a> was headed for its first decline in six weeks.&nbsp;

"There were some panic and fears from the global market which is fading out domestic cues are also not that negative, in fact, they are improving," said Shrikant Chouhan, technical analyst at Kotak Securities.

<a href="https://www.wionews.com/business-economy/sensex-nifty-surge-as-easing-middle-east-tensions-steady-crude-prices-273111">MSCI's broadest</a> gauge of the world's stocks in 49 countries rose a tad to hit an all-time high and its index of <a href="https://www.wionews.com/business-economy/asian-shares-erase-losses-as-mideast-tensions-ease-oil-ticks-up-273093">Asia-Pacific shares</a> outside Japan rose 0.18 per cent.&nbsp;

In India, IT heavyweight Infosys Ltd rose 1.44 per cent&nbsp;ahead of its third-quarter earnings due later in the day.

Shares of Indian private sector lender Yes Bank Ltd rose 1.37 per cent&nbsp;ahead of a board meeting on Friday to discuss a capital raise as it looks to stave off the impact of bad loans.

Airline stocks Interglobe Aviation Ltd and SpiceJet Ltd reacted positively to lower oil prices, rising 1.68 per cent&nbsp;and 0.94 per cent&nbsp;respectively.

Bharti Infratel Ltd and Dr Reddy's Laboratories Ltd were among the top gainers on the&nbsp;Nifty, rising 2.13 per cent&nbsp;and 2.06 per cent&nbsp;each.&nbsp;

Indian shares rose on Friday, tracking global markets, as US-Iran tensions abated and investors looked for domestic cues ahead of corporate earnings. The NSE Nifty 50 index inched up 0.

Indian shares rose on Friday, tracking global markets, as US-Iran tensions abated and investors looked for domestic cues ahead of corporate earnings. The NSE Nifty 50 index inched up 0.16 per cent to 12,234.25 by 0413 GMT, while the benchmark S&P BSE Sensex was 0.14 per cent higher at 41,511.58. The Nifty 50 and Sensex are headed for a weekly gain of around 0.5 per cent each. Meanwhile, easing oil prices came as a relief for investors in India, the world's third-biggest oil consumer. Brent crude was headed for its first decline in six weeks. "There were some panic and fears from the global market which is fading out domestic cues are also not that negative, in fact, they are improving," said Shrikant Chouhan, technical analyst at Kotak Securities. MSCI's broadest gauge of the world's stocks in 49 countries rose a tad to hit an all-time high and its index of Asia-Pacific shares outside Japan rose 0.18 per cent. In India, IT heavyweight Infosys Ltd rose 1.44 per cent ahead of its third-quarter earnings due later in the day. Shares of Indian private sector lender Yes Bank Ltd rose 1.37 per cent ahead of a board meeting on Friday to discuss a capital raise as it looks to stave off the impact of bad loans. Airline stocks Interglobe Aviation Ltd and SpiceJet Ltd reacted positively to lower oil prices, rising 1.68 per cent and 0.94 per cent respectively. Bharti Infratel Ltd and Dr Reddy's Laboratories Ltd were among the top gainers on the Nifty, rising 2.13 per cent and 2.06 per cent each.

Nifty, Sensex headed for weekly gain as Mideast tensions ease

A gauge of <a href="https://www.wionews.com/business-economy/global-markets-asian-shares-lower-as-investors-book-decade-end-profits-271229">Asian shares</a> was toppled from an 18-month top on Monday as heightened Middle East tensions sent investors scurrying for the safety of gold, which hit a near seven-year high while oil jumped to four-month peaks.

The United States detected a heightened state of alert by Iran's missile forces, as President <a href="https://www.wionews.com/business-economy/global-stocks-rattled-after-donald-trump-says-no-deadline-on-us-china-trade-deal-266025">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 a top Iranian military commander and an Iraqi militia leader.

Spot gold surged 1.5 per cent&nbsp;to $1,579.55 per ounce in jittery trade and reached its highest since April 2013.

<a href="https://www.wionews.com/business-economy/oil-prices-tumble-ahead-of-opec-meeting-global-stocks-fall-265363">Oil prices</a> added to their gains on fears any conflict in the region could disrupt global supplies.

Brent crude futures rose $1.46 to $70.06 a barrel, while US crude climbed $1.17 to $64.22.

"The risk of further escalation has clearly gone up&nbsp;given the direct attack on Iran, Iran's threat of retaliation and Trump's desire to look tough - posing the threat of higher oil prices," said Shane Oliver, chief economist at AMP Capital.

"Historically though oil prices need to double to pose a severe threat to global growth and we are a long way from that."

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MSCI's broadest index of Asia-Pacific shares outside Japan&nbsp;slipped 0.7 per cent.

Japan's Nikkei slid almost 2 per cent&nbsp;in a sour return from holiday, while E-Mini futures for the S&amp;P 500&nbsp; fell 0.5&nbsp;per cent in very choppy trade.

Chinese shares opened in the red too, with the blue-chip CSI300 index off a shade while Australian shares were off 0.4 per cent.

"Geopolitical tensions look like remaining elevated in the coming days, so lending support to oil prices and keeping risk asset markets on the defensive," said Ray Attrill, head of FX strategy at National Australia Bank.

Sovereign bonds benefited from the safety bid with yields on 10-year Treasuries down at 1.769&nbsp;per cent&nbsp;having fallen 10 basis points on Friday. Treasury futures gained 5-1/2 ticks.

In currency markets, the Japanese yen remained the favoured safe harbour courtesy of Japan's massive holdings of foreign assets. Investors assume Japanese funds would repatriate their money during a truly global crisis, pushing the yen higher.

On Monday, the dollar was last at 107.98 yen, after falling to a three-month trough of 107.78 earlier in the session. The euro likewise eased to 120.55 yen having hit a three-week low.

The dollar was steadier against the other majors, with the euro little changed at $1.1161. Against a basket of currencies, the dollar was holding at 96.86.

The risk-sensitive currencies of Australia and New Zealand were on track for their fourth straight session of losses.

A gauge of Asian shares was toppled from an 18-month top on Monday as heightened Middle East tensions sent investors scurrying for the safety of gold, which hit a near seven-year high while oil jumped to four-month peaks.

A gauge of Asian shares was toppled from an 18-month top on Monday as heightened Middle East tensions sent investors scurrying for the safety of gold, which hit a near seven-year high while oil jumped to four-month peaks. 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 a top Iranian military commander and an Iraqi militia leader. Spot gold surged 1.5 per cent to $1,579.55 per ounce in jittery trade and reached its highest since April 2013. Oil prices added to their gains on fears any conflict in the region could disrupt global supplies. Brent crude futures rose $1.46 to $70.06 a barrel, while US crude climbed $1.17 to $64.22. "The risk of further escalation has clearly gone up given the direct attack on Iran, Iran's threat of retaliation and Trump's desire to look tough - posing the threat of higher oil prices," said Shane Oliver, chief economist at AMP Capital. "Historically though oil prices need to double to pose a severe threat to global growth and we are a long way from that." Watch Video: MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.7 per cent. Japan's Nikkei slid almost 2 per cent in a sour return from holiday, while E-Mini futures for the S&P 500 fell 0.5 per cent in very choppy trade. Chinese shares opened in the red too, with the blue-chip CSI300 index off a shade while Australian shares were off 0.4 per cent. "Geopolitical tensions look like remaining elevated in the coming days, so lending support to oil prices and keeping risk asset markets on the defensive," said Ray Attrill, head of FX strategy at National Australia Bank. Sovereign bonds benefited from the safety bid with yields on 10-year Treasuries down at 1.769 per cent having fallen 10 basis points on Friday. Treasury futures gained 5-1/2 ticks. In currency markets, the Japanese yen remained the favoured safe harbour courtesy of Japan's massive holdings of foreign assets. Investors assume Japanese funds would repatriate their money during a truly global crisis, pushing the yen higher. On Monday, the dollar was last at 107.98 yen, after falling to a three-month trough of 107.78 earlier in the session. The euro likewise eased to 120.55 yen having hit a three-week low. The dollar was steadier against the other majors, with the euro little changed at $1.1161. Against a basket of currencies, the dollar was holding at 96.86. The risk-sensitive currencies of Australia and New Zealand were on track for their fourth straight session of losses.

Gold, oil prices soar amid US-Iran tensions

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

<a href="https://www.wionews.com/business-economy/global-markets-asian-shares-lower-as-investors-book-decade-end-profits-271229">Asian&nbsp;shares</a>&nbsp;gained for the fourth successive month in&nbsp;December&nbsp;as appetite for regional&nbsp;shares&nbsp;improved after the US&nbsp;and China agreed on a preliminary deal to end their 17-month long trade war.

The MSCI's broadest index of <a href="https://www.wionews.com/business-economy/global-markets-china-lifts-asian-shares-oil-up-on-drawdowns-mideast-tensions-270929">Asia-Pacific&nbsp;shares</a>&nbsp;gained 4.2 per cent&nbsp;in&nbsp;December, compared with the month's&nbsp;gains&nbsp;of about 3.4 per cent&nbsp;for the MSCI's&nbsp;global&nbsp;share index.

The United States and China agreed on a <a href="https://www.wionews.com/world/us-china-phase-one-trade-deal-to-be-signed-january-15-trump-271308">deal</a> on December 13 that reduces some US&nbsp;tariffs in exchange for what US&nbsp;officials said would be a big jump in Chinese purchases of American farm products and other goods. The deal is expected to be signed on January 15.

Asia-Pacific&nbsp;shares&nbsp;however,&nbsp;lagged behind&nbsp;global&nbsp;shares&nbsp;in the year and in the last decade.

MSCI's Asia-Pacific Index gained about 16 per cent&nbsp;in 2019 compared with 24 per cent&nbsp;for the World index.

New Zealand&nbsp;<a href="https://www.wionews.com/business-economy/gold-climbs-to-three-month-high-poised-for-best-year-since-2010-271231">shares</a>&nbsp;lead both 2019 and last decade's&nbsp;gains&nbsp;in the region. In US&nbsp;dollar terms, local&nbsp;shares&nbsp;gained 30.8 per cent&nbsp;in 2019 and 231 per cent&nbsp;in the last decade.

Asian shares gained for the fourth successive month in December as appetite for regional shares improved after the US and China agreed on a preliminary deal to end their 17-month long trade war.

Asian shares gained for the fourth successive month in December as appetite for regional shares improved after the US and China agreed on a preliminary deal to end their 17-month long trade war. The MSCI's broadest index of Asia-Pacific shares gained 4.2 per cent in December, compared with the month's gains of about 3.4 per cent for the MSCI's global share index. The United States and China agreed on a deal on December 13 that reduces some US tariffs in exchange for what US officials said would be a big jump in Chinese purchases of American farm products and other goods. The deal is expected to be signed on January 15. Asia-Pacific shares however, lagged behind global shares in the year and in the last decade. MSCI's Asia-Pacific Index gained about 16 per cent in 2019 compared with 24 per cent for the World index. New Zealand shares lead both 2019 and last decade's gains in the region. In US dollar terms, local shares gained 30.8 per cent in 2019 and 231 per cent in the last decade.

Though yearly gains lag, Asian shares outperformed global peers in December

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

Indian <a href="https://www.wionews.com/india-general-elections-2019/sensex-crosses-40000-mark-as-election-trends-show-second-term-for-narendra-modi-220820">Stock Markets</a> on Monday erased early gains to trade marginally higher in the first hour of trade.

At 12 afternoon Sensex was trading 15.70 points higher at 41,025.41 and Nifty traded 4.15 points lower at 12,082.55.&nbsp;

Earlier in the day, Sensex hit a new record high of 41,185.03 points.&nbsp;

At 9:17 am, the Sensex was up 117.03 points, or 0.29%, at 41,126.74. Nifty too was trading higher by 35.80 points to 12,122.50.

The Competition Commission of India on Friday approved the acquisition of a stake in SBI General Insurance Company by Napean Opportunities LLP and Honey Wheat Investment Ltd. State Bank of India will continue to hold a majority stake in its insurance arm.

Shares of private sector lender Yes Bank Ltd were the top gainer on the NSE index in early trade, rising nearly 3%.

However, strength in oil prices, which were at three-month highs, sent shares of state-run oil marketing companies lower. Hindustan Petroleum Corp and Bharat Petroleum Corp inched 0.6% and 0.27% lower, respectively.

(With inputs from agencies)

Indian Stock Markets on Monday erased early gains to trade marginally higher in the first hour of trade. At 12 afternoon Sensex was trading 15.70 points higher at 41,025.

Indian Stock Markets on Monday erased early gains to trade marginally higher in the first hour of trade. At 12 afternoon Sensex was trading 15.70 points higher at 41,025.41 and Nifty traded 4.15 points lower at 12,082.55. Earlier in the day, Sensex hit a new record high of 41,185.03 points. At 9:17 am, the Sensex was up 117.03 points, or 0.29%, at 41,126.74. Nifty too was trading higher by 35.80 points to 12,122.50. The Competition Commission of India on Friday approved the acquisition of a stake in SBI General Insurance Company by Napean Opportunities LLP and Honey Wheat Investment Ltd. State Bank of India will continue to hold a majority stake in its insurance arm. Shares of private sector lender Yes Bank Ltd were the top gainer on the NSE index in early trade, rising nearly 3%. However, strength in oil prices, which were at three-month highs, sent shares of state-run oil marketing companies lower. Hindustan Petroleum Corp and Bharat Petroleum Corp inched 0.6% and 0.27% lower, respectively. (With inputs from agencies)

Sensex, Nifty erase gains to trade flat

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