Most of us consider stock market as a complex web where people either make a lot of money or lose all of their money. Worse, the common assumption is: people, mostly, make or lose their money in a way of gambling. The feeling about the stock market is best summed up as, &ldquo;I consider it a bad option, so I will stay away from it&rdquo;.&nbsp;

So, today I am going to help you understand: what is a stock market, does it help in nation building, why people lose money and how can you proceed in a safe manner.&nbsp;

What is a stock market?

I am sure you must have seen &lsquo;Guru&rsquo; - the biopic on &lsquo;Dhirubhai Ambani&rsquo;. In case you have not, I will urge you to watch it. At one point in the movie, Abhishek Bachchan wants to expand his business and he decides that he won&rsquo;t go to the banks. On the contrary, he decided to go to the people to raise funds and, in the process, his company gets listed on the stock market.

Therefore, according to Indian norms set by SEBI, the stock market is a place where companies get listed to raise money. Companies, such as Jockey, Asian Paints, Britannia as well as Tata&#39;s, Reliance and Aditya Birla group have been raising money through stock markets for decades as well.

Now, in the movie, Abhishek could either borrow from the bank at a certain interest rate which is normally around 15-25 per cent based on company credit rating or can borrow from the general public. In the latter case, he had to make them part-owner of the company, paying them a part of the profit and expecting them to share a part of the losses as well.

As the companies get listed, the common man, institutional investors and anybody can be part of the corporate journey in buying the shares of their company.

Thus, the most basic definition of the stock market is a lending platform which the big business houses can use to borrow money from common people in lieu of a part of their company (called shares in common parlance).

Now there are few ways to take part in the stock market and it will help you understand why people lose money.&nbsp;

Day trading: This is the most risky way in which people participate in the stock market and it, in reality, doesn&#39;t benefit the companies much. Just imagine, how many times have you taken a loan for a single day and do you really think that someone can use that money for such a short span of time to expand their business or build a new refinery. So day traders try to predict the price on a daily basis and if they are correct they make millions and if they are wrong, they lose their whole capital.

We at NiveshGyaan can&rsquo;t predict and, thus, advise our readers also to stay away from it. As we don&rsquo;t feel it benefits anyone apart from the stockbroker due to the high transaction charges, and this happens to be the most commonly misinterpreted and abused way of trading.

Long-term investing: In this form of trading, you buy a stock after considering its basic fundamentals and then you stick with it for a long time, at least for a year or until you are in some dire need of money.

In this process, you help the company and it rewards you with the gains or sometimes you do make losses (but then which business is 100% risk-free) though you are not gambling and over a long run_ you will realize great companies have always increased your wealth.

We advise you to take part only in long-term investing.

Stock Market&#39;s role in nation-building exercise&nbsp;

&nbsp;Let&#39;s consider for a moment there is no stock market and Tata&#39;s want to expand their business by 100 Crore, so where do you think they can borrow this money; it will be either banks or individuals or some group of investors. Though, it must be tough to borrow 100 crores from a single individual or let&rsquo;s suppose 10-15 people who are close to Tata&rsquo;s as well.

If they are going to go to banks or institutional investors, they will be required to keep some form of security and also pay the lending rate i.e. 15% -20% based on different channel, the risk involved in the project and the fixed deposit rate is 7%.

So, let&rsquo;s suppose this company borrows from the bank at 15% annually. As a result, it definitely has to make profits and also worry about earning 15% extra on the money to pay off the interest.

Now, let&#39;s bring the stock market in the picture. Let&#39;s consider that TATA&#39;s are evaluated to be a 1000 Crore organisation and they want to borrow 100 Crore. So they put their 10% of the company (i.e. 100 Crores) on Stock and distribute these shares in various proportion, including individuals, HUL&rsquo;s and institutional investors.

From Tata&#39;s perspective, two good things could happen:&nbsp;

? &nbsp; &nbsp; &nbsp; The shares got divided among a lot of people, which reduces the chances of taking over the company.

? &nbsp; &nbsp; &nbsp; They got the required money while not actually being worried about generating 15% extra income.

The national perspective

Now, with the formulation of a new unit of Tata&rsquo;s, new employment will be generated, which will bring more money in the economy, which in return will boost the local economy, thus, churning the wheel of the country.

Therefore, companies should expand if a country needs to develop and it is beneficial for both country and the company if this happens through the stock market.

Now, let&rsquo;s see how &lsquo;You&rsquo; get benefit out of all this.

Common Man&rsquo;s Perspective

The options in front of you for your idle money are either keeping your money in the bank account or keeping it with yourself, considering you don&rsquo;t rely on the stock market, and which gives you the best interest rate of 7%.

Now, let&rsquo;s take TATA&rsquo;s again and I hope you agree they have a good management, they will try their best to earn more than the bank F.D. rate. Else common sense tells that they could have also put all their money in a bank and sit nicely at home; there was no need of so much effort IN running companies, managing employees and handling agitation, including the whole Cyrus Mistry scandal.

Therefore, stock market opens up a new avenue for you to put your money and grow at a faster rate than bank F.D&rsquo;s and this, in turn, help both the companies and the economy.

Happy investing and happy growing your money.

&nbsp;

(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

&nbsp;

&nbsp;

Stock market opens up a new avenue for you to put your money and grow at a faster rate than bank F.D?s and this, in turn, help both the companies and the economy.

Most of us consider stock market as a complex web where people either make a lot of money or lose all of their money. Worse, the common assumption is: people, mostly, make or lose their money in a way of gambling. The feeling about the stock market is best summed up as, “I consider it a bad option, so I will stay away from it”. So, today I am going to help you understand: what is a stock market, does it help in nation building, why people lose money and how can you proceed in a safe manner. What is a stock market? I am sure you must have seen ‘Guru’ - the biopic on ‘Dhirubhai Ambani’. In case you have not, I will urge you to watch it. At one point in the movie, Abhishek Bachchan wants to expand his business and he decides that he won’t go to the banks. On the contrary, he decided to go to the people to raise funds and, in the process, his company gets listed on the stock market. Therefore, according to Indian norms set by SEBI, the stock market is a place where companies get listed to raise money. Companies, such as Jockey, Asian Paints, Britannia as well as Tata's, Reliance and Aditya Birla group have been raising money through stock markets for decades as well. Now, in the movie, Abhishek could either borrow from the bank at a certain interest rate which is normally around 15-25 per cent based on company credit rating or can borrow from the general public. In the latter case, he had to make them part-owner of the company, paying them a part of the profit and expecting them to share a part of the losses as well. As the companies get listed, the common man, institutional investors and anybody can be part of the corporate journey in buying the shares of their company. Thus, the most basic definition of the stock market is a lending platform which the big business houses can use to borrow money from common people in lieu of a part of their company (called shares in common parlance). Now there are few ways to take part in the stock market and it will help you understand why people lose money. Day trading: This is the most risky way in which people participate in the stock market and it, in reality, doesn't benefit the companies much. Just imagine, how many times have you taken a loan for a single day and do you really think that someone can use that money for such a short span of time to expand their business or build a new refinery. So day traders try to predict the price on a daily basis and if they are correct they make millions and if they are wrong, they lose their whole capital. We at NiveshGyaan can’t predict and, thus, advise our readers also to stay away from it. As we don’t feel it benefits anyone apart from the stockbroker due to the high transaction charges, and this happens to be the most commonly misinterpreted and abused way of trading. Long-term investing: In this form of trading, you buy a stock after considering its basic fundamentals and then you stick with it for a long time, at least for a year or until you are in some dire need of money. In this process, you help the company and it rewards you with the gains or sometimes you do make losses (but then which business is 100% risk-free) though you are not gambling and over a long run_ you will realize great companies have always increased your wealth. We advise you to take part only in long-term investing. Stock Market's role in nation-building exercise Let's consider for a moment there is no stock market and Tata's want to expand their business by 100 Crore, so where do you think they can borrow this money; it will be either banks or individuals or some group of investors. Though, it must be tough to borrow 100 crores from a single individual or let’s suppose 10-15 people who are close to Tata’s as well. If they are going to go to banks or institutional investors, they will be required to keep some form of security and also pay the lending rate i.e. 15% -20% based on different channel, the risk involved in the project and the fixed deposit rate is 7%. So, let’s suppose this company borrows from the bank at 15% annually. As a result, it definitely has to make profits and also worry about earning 15% extra on the money to pay off the interest. Now, let's bring the stock market in the picture. Let's consider that TATA's are evaluated to be a 1000 Crore organisation and they want to borrow 100 Crore. So they put their 10% of the company (i.e. 100 Crores) on Stock and distribute these shares in various proportion, including individuals, HUL’s and institutional investors. From Tata's perspective, two good things could happen: ? The shares got divided among a lot of people, which reduces the chances of taking over the company. ? They got the required money while not actually being worried about generating 15% extra income. The national perspective Now, with the formulation of a new unit of Tata’s, new employment will be generated, which will bring more money in the economy, which in return will boost the local economy, thus, churning the wheel of the country. Therefore, companies should expand if a country needs to develop and it is beneficial for both country and the company if this happens through the stock market. Now, let’s see how ‘You’ get benefit out of all this. Common Man’s Perspective The options in front of you for your idle money are either keeping your money in the bank account or keeping it with yourself, considering you don’t rely on the stock market, and which gives you the best interest rate of 7%. Now, let’s take TATA’s again and I hope you agree they have a good management, they will try their best to earn more than the bank F.D. rate. Else common sense tells that they could have also put all their money in a bank and sit nicely at home; there was no need of so much effort IN running companies, managing employees and handling agitation, including the whole Cyrus Mistry scandal. Therefore, stock market opens up a new avenue for you to put your money and grow at a faster rate than bank F.D’s and this, in turn, help both the companies and the economy. Happy investing and happy growing your money. (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

Opinion: Why you should invest in stock market

The stock market today inched closer to the all-time intra-day high as the BJP sniffed victory in Gujarat and also stayed on course to take power from the Congress in Himachal Pradesh.

According to trends available on the Election Commission&#39;s website, the BJP is leading in 101 of the 182 assembly segments in Gujarat. As for Himachal Pradesh, it is leading in 40 seats as against the Congress&#39; 21.

The 30-share BSE index hit a high of 33,724.08 at 1152 hrs, a gain of 261.11 points -- 0.78 per cent. The reading is closer to the all-time high 33,865.95, reached on November 7.

For the 50-share Nifty, the reading was above the key 10,400-mark at 10,415.50, up 82.25 points, or 0.80 per cent.

Early in the beginning of the session, the benchmark BSE Sensex had tanked as much as 867 points to breach below the psychological 33,000-mark while the NSE Nifty plunged 258 points within one hour of counting of votes.

However, evolving equations showed that the BJP is pushing ahead in both the states.

Metal, auto, healthcare, realty, and banks all showed up in the green.

The big mover was M&amp;M 2.93 per cent, with SBI and Adani Ports closely following the leader.

Foreign portfolio investors (FPIs) net sold shares worth Rs 921.03 crore last Friday. But domestic institutional investors (DIIs) offloaded equities to the tune of Rs 635.44 crore.

Asian stocks were mixed. US stocks rose to all-time highs last Friday, as prospects of the passage of a Republican tax Bill increased.

The 30-share BSE index hit a high of 33,724.08 at 1152 hrs, a gain of 261.11 points -- 0.78 per cent. The reading is closer to the all-time high 33,865.95, reached on November 7.

The stock market today inched closer to the all-time intra-day high as the BJP sniffed victory in Gujarat and also stayed on course to take power from the Congress in Himachal Pradesh. According to trends available on the Election Commission's website, the BJP is leading in 101 of the 182 assembly segments in Gujarat. As for Himachal Pradesh, it is leading in 40 seats as against the Congress' 21. The 30-share BSE index hit a high of 33,724.08 at 1152 hrs, a gain of 261.11 points -- 0.78 per cent. The reading is closer to the all-time high 33,865.95, reached on November 7. For the 50-share Nifty, the reading was above the key 10,400-mark at 10,415.50, up 82.25 points, or 0.80 per cent. Early in the beginning of the session, the benchmark BSE Sensex had tanked as much as 867 points to breach below the psychological 33,000-mark while the NSE Nifty plunged 258 points within one hour of counting of votes. However, evolving equations showed that the BJP is pushing ahead in both the states. Metal, auto, healthcare, realty, and banks all showed up in the green. The big mover was M&M 2.93 per cent, with SBI and Adani Ports closely following the leader. Foreign portfolio investors (FPIs) net sold shares worth Rs 921.03 crore last Friday. But domestic institutional investors (DIIs) offloaded equities to the tune of Rs 635.44 crore. Asian stocks were mixed. US stocks rose to all-time highs last Friday, as prospects of the passage of a Republican tax Bill increased.

Sensex eyes higher ground as BJP pulls ahead in Gujarat poll

Indian shares edged lower on Friday as economic growth data came in largely as expected, failing to boost a market weighed down by concerns about the country`s fiscal deficit and global risk factors such as rising crude prices. 
 
Data late on Thursday showed India`s gross domestic product grew 6.3 percent in July-September, in line with expectations, as businesses started to overcome troubles after the bumpy launch of a national sales tax.

The data failed to lift sentiment after India reported its fiscal deficit reached 96 percent of the budgeted target for the fiscal year ending in March 2018, sending shares sharply lower on Thursday. The Reserve Bank of India (RBI) is also meeting next week at a time of rising concern about a rally in crude prices, which rose following OPEC`s decision to extend production curbs.

Nearly all analysts expect the central bank to keep rates on hold.&nbsp;

&quot;Since there was a sharp run-up in the markets last week, there is a bit of profit-booking. Even though the GDP number is along expected lines, there is concern building up on the fiscal deficit front,&quot; said Hitesh Agarwal, EVP &amp; Head &ndash; Retail Research, Religare Securities Ltd.

The broader NSE Nifty was down 0.15 percent at 10,211.40 as of 0644 GMT, while the benchmark BSE Sensex was 0.12 percent lower at 33,108.34. Both indexes were down around 1.7 percent for the week, heading for their biggest weekly loss since late September.

Indiabulls Housing Finance Ltd led losses on the NSE index, falling as much as 2.1 percent. The stock had gained in the last five sessions. Banking stocks weighed on both indexes ahead of the RBI meeting. State Bank of India fell as much as 0.9 percent while ICICI Bank Ltd lost 0.8 percent.

However, the Nifty auto index gained about 1 percent as automakers reported sales for November. A private survey on Friday showed factory activity accelerated last month to the fastest pace since late last year, driven by a surge in new orders.

Maruti Suzuki India Ltd rose 1.1 percent after posting a 14 percent rise in November sales. Tata Motors Ltd, expected to report later in the day, rose as much as 1.4 percent.

Data late on Thursday showed India`s gross domestic product grew 6.3 percent in July-September

Indian shares edged lower on Friday as economic growth data came in largely as expected, failing to boost a market weighed down by concerns about the country`s fiscal deficit and global risk factors such as rising crude prices. Data late on Thursday showed India`s gross domestic product grew 6.3 percent in July-September, in line with expectations, as businesses started to overcome troubles after the bumpy launch of a national sales tax. The data failed to lift sentiment after India reported its fiscal deficit reached 96 percent of the budgeted target for the fiscal year ending in March 2018, sending shares sharply lower on Thursday. The Reserve Bank of India (RBI) is also meeting next week at a time of rising concern about a rally in crude prices, which rose following OPEC`s decision to extend production curbs. Nearly all analysts expect the central bank to keep rates on hold. "Since there was a sharp run-up in the markets last week, there is a bit of profit-booking. Even though the GDP number is along expected lines, there is concern building up on the fiscal deficit front," said Hitesh Agarwal, EVP & Head – Retail Research, Religare Securities Ltd. The broader NSE Nifty was down 0.15 percent at 10,211.40 as of 0644 GMT, while the benchmark BSE Sensex was 0.12 percent lower at 33,108.34. Both indexes were down around 1.7 percent for the week, heading for their biggest weekly loss since late September. Indiabulls Housing Finance Ltd led losses on the NSE index, falling as much as 2.1 percent. The stock had gained in the last five sessions. Banking stocks weighed on both indexes ahead of the RBI meeting. State Bank of India fell as much as 0.9 percent while ICICI Bank Ltd lost 0.8 percent. However, the Nifty auto index gained about 1 percent as automakers reported sales for November. A private survey on Friday showed factory activity accelerated last month to the fastest pace since late last year, driven by a surge in new orders. Maruti Suzuki India Ltd rose 1.1 percent after posting a 14 percent rise in November sales. Tata Motors Ltd, expected to report later in the day, rose as much as 1.4 percent.

Sensex slips as fiscal deficit concerns weigh; banks fall

London`s stock market fell on Friday, bucking an upwards trend elsewhere, as `Black Friday` price-slashing wooed customers but was expected to hurt the bottom line of Britain`s biggest retailers.

So-called Black Friday, the now-traditional day of steep discounts in the run-up to Christmas, failed to boost share prices of retailers partly owing to fierce competition from online giants like Amazon, dealers said.

The mood in London soured also on news that British consumer confidence, tracked by pollsters YouGov and researchers the Centre for Economics and Business Research, has slumped to the lowest level since just after last year`s shock Brexit referendum.

&quot;With sales rising at the expense of margins, there is a strong possibility that we will see retailers` profitability suffer despite rising revenues,&quot; Joshua Mahony, an analyst at IG trading group, said regarding the impact of Black Friday.

&quot;Unfortunately, while billions will be spent in the UK today, we have seen UK consumer confidence hit the lowest level since the EU referendum, paving the way for what could be a disappointing holiday season for retailers,&quot; he added.

In late morning deals, London`s FTSE index was down 0.3 per cent in value compared with Thursday`s close.

Shares in clothing retailer Next slid 1.39 per cent to 4,324 pence and rival Marks &amp; Spencer shed 0.2 per cent to 298.10 pence.

Britain`s biggest retailer, supermarket giant Tesco, dropped 0.13 per cent to 193.80 pence and peer Sainsbury`s lost 0.17 per cent to 228.40 pence.

Industry forecasts suggest UK shoppers will spend some &pound;7.8 billion ($10.3 billion, 8.8 billion euros) over the four-day period from Black Friday to so-called Cyber Monday - when online retailers deliver even more steep discounts.

&quot;Black Friday (data) will be analysed next week for evidence the consumer is alive and well,&quot; David Hussey, equities analyst at Manulife Asset Management,&quot; told AFP.

In the eurozone meanwhile, the Frankfurt and Paris stock markets gained ground, taking their cue from an Asian recovery.

Traders had no leads from Wall Street, which was shut on Thursday for the Thanksgiving public holiday, while many US investors will remain absent until after the weekend.

So-called Black Friday, the now-traditional day of steep discounts in the run-up to Christmas, failed to boost share prices of retailers partly owing to fierce competition from online giants like Amazon, dealers said

London`s stock market fell on Friday, bucking an upwards trend elsewhere, as `Black Friday` price-slashing wooed customers but was expected to hurt the bottom line of Britain`s biggest retailers. So-called Black Friday, the now-traditional day of steep discounts in the run-up to Christmas, failed to boost share prices of retailers partly owing to fierce competition from online giants like Amazon, dealers said. The mood in London soured also on news that British consumer confidence, tracked by pollsters YouGov and researchers the Centre for Economics and Business Research, has slumped to the lowest level since just after last year`s shock Brexit referendum. "With sales rising at the expense of margins, there is a strong possibility that we will see retailers` profitability suffer despite rising revenues," Joshua Mahony, an analyst at IG trading group, said regarding the impact of Black Friday. "Unfortunately, while billions will be spent in the UK today, we have seen UK consumer confidence hit the lowest level since the EU referendum, paving the way for what could be a disappointing holiday season for retailers," he added. In late morning deals, London`s FTSE index was down 0.3 per cent in value compared with Thursday`s close. Shares in clothing retailer Next slid 1.39 per cent to 4,324 pence and rival Marks & Spencer shed 0.2 per cent to 298.10 pence. Britain`s biggest retailer, supermarket giant Tesco, dropped 0.13 per cent to 193.80 pence and peer Sainsbury`s lost 0.17 per cent to 228.40 pence. Industry forecasts suggest UK shoppers will spend some £7.8 billion ($10.3 billion, 8.8 billion euros) over the four-day period from Black Friday to so-called Cyber Monday - when online retailers deliver even more steep discounts. "Black Friday (data) will be analysed next week for evidence the consumer is alive and well," David Hussey, equities analyst at Manulife Asset Management," told AFP. In the eurozone meanwhile, the Frankfurt and Paris stock markets gained ground, taking their cue from an Asian recovery. Traders had no leads from Wall Street, which was shut on Thursday for the Thanksgiving public holiday, while many US investors will remain absent until after the weekend.

'Black Friday' sales bonanza fails to boost London stock market

Apex Frozen Food debuted in the stock market today.

&nbsp;The company was listed at RS 199.90 on BSE which is 14.23 per cent premium over its issue price of RS 175.&nbsp;

Whereas on The National Stock Exchange the company was listed at Rs 202, 15 per cent premium over the issue price of Rs 175.&nbsp;

The stock was fixed at 5 percent upper circuit of Rs 212.10 (the intraday high).

The company launched the public issue of up to 87 lakh shares that was opened for subscription during August 22-24. The price band for the issue was Rs 171-175 per share.

The company deals in a variety of white shrimp which is sold under different brands- Bay Fresh, Bay Harvest, and BayPremium.

It will use the proceeds earned for setting up a new shrimp processing unit of 20,000 tonnes per annum which is expected to&nbsp;come up in Andhra Pradesh.

&nbsp;

?The company was listed at RS 199.90 on BSE which is 14.23 per cent premium over its issue price of RS 175

Apex Frozen Food debuted in the stock market today. The company was listed at RS 199.90 on BSE which is 14.23 per cent premium over its issue price of RS 175. Whereas on The National Stock Exchange the company was listed at Rs 202, 15 per cent premium over the issue price of Rs 175. The stock was fixed at 5 percent upper circuit of Rs 212.10 (the intraday high). The company launched the public issue of up to 87 lakh shares that was opened for subscription during August 22-24. The price band for the issue was Rs 171-175 per share. The company deals in a variety of white shrimp which is sold under different brands- Bay Fresh, Bay Harvest, and BayPremium. It will use the proceeds earned for setting up a new shrimp processing unit of 20,000 tonnes per annum which is expected to come up in Andhra Pradesh.

Apex Frozen Food debuts with high mark

Wall Street stocks fell for the second straight session Wednesday as worries about US-North Korea tensions rattled investors.

Analysts pointed to the harsh threats and sabre rattling from US President Donald Trump, including a message Wednesday on Twitter boasting &nbsp;the United States&#39; nuclear arsenal was now &quot;more powerful than ever before.&quot;

US Defense Secretary Jim Mattis, who often has emphasized the devastating costs of any conflict with North Korea, seemed to back up Trump&#39;s tone.

Mattis said North Korea must stop isolating itself and &quot;stand down&quot; in its pursuit of nuclear weapons, and Pyongyang &quot;should cease any consideration of actions that would lead to the end of its regime and the destruction of its people.&quot;

The Dow Jones Industrial Average shed 0.2 per cent to close the day at 22,048.70.

The broad-based S&amp;P 500 fell less than 0.1 per cent at the end at 2,474.02, while the tech-rich Nasdaq Composite Index dropped 0.3 per cent to 6,352.33.

The S&amp;P 500 volatility index, a measure of investor fear, rose for the second day.

&quot;It is a market that is beginning to encounter some major threats and of course the threat is geopolitical,&quot; said Peter Cardillo, chief market economist at First Standard Financial.

Dow member Disney dropped 3.9 per cent as it reported flat third-quarter revenues due in part to weakness in its cable subscription business.&nbsp;

Disney also announced it will launch two new streaming television services including one for its ESPN-branded sports channel while ending its deal with Netflix as it shifts towards direct content distribution. Netflix lost 1.5 per cent.

Priceline sank 6.9 per cent as it projected third-quarter earnings below analyst expectations.

Charter Communications rose 2.9 per cent on news Altice is exploring a bid for the cable giant. Altice USA, the subsidiary of the French company, added 0.1 per cent.&nbsp;

Priceline sank 6.9 percent as it projected third-quarter earnings below analyst expectations

Wall Street stocks fell for the second straight session Wednesday as worries about US-North Korea tensions rattled investors. Analysts pointed to the harsh threats and sabre rattling from US President Donald Trump, including a message Wednesday on Twitter boasting the United States' nuclear arsenal was now "more powerful than ever before." US Defense Secretary Jim Mattis, who often has emphasized the devastating costs of any conflict with North Korea, seemed to back up Trump's tone. Mattis said North Korea must stop isolating itself and "stand down" in its pursuit of nuclear weapons, and Pyongyang "should cease any consideration of actions that would lead to the end of its regime and the destruction of its people." The Dow Jones Industrial Average shed 0.2 per cent to close the day at 22,048.70. The broad-based S&P 500 fell less than 0.1 per cent at the end at 2,474.02, while the tech-rich Nasdaq Composite Index dropped 0.3 per cent to 6,352.33. The S&P 500 volatility index, a measure of investor fear, rose for the second day. "It is a market that is beginning to encounter some major threats and of course the threat is geopolitical," said Peter Cardillo, chief market economist at First Standard Financial. Dow member Disney dropped 3.9 per cent as it reported flat third-quarter revenues due in part to weakness in its cable subscription business. Disney also announced it will launch two new streaming television services including one for its ESPN-branded sports channel while ending its deal with Netflix as it shifts towards direct content distribution. Netflix lost 1.5 per cent. Priceline sank 6.9 per cent as it projected third-quarter earnings below analyst expectations. Charter Communications rose 2.9 per cent on news Altice is exploring a bid for the cable giant. Altice USA, the subsidiary of the French company, added 0.1 per cent.

US stocks fall as North Korea worries rise

Tokyo stocks opened higher Thursday as worries about US-North Korea tensions eased while the yen&#39;s appreciation against the dollar peaked out.

The benchmark Nikkei 225 index rose 0.18 per cent, or 35.87 points, to 19,774.58 in the first few minutes while the Topix index of all first-section issues was up 0.07 per cent, or 1.12 points, at 1,619.02.

The slight rally came after world stock markets slid Wednesday on concerns linked to the harsh threats and sabre rattling from US President Donald Trump against Pyongyang.

Trump warned North Korean leader Kim Jong-Un that he faced &quot;fire and fury&quot; over his weapons and ballistic missile programs.

Trump, enjoying a working holiday at his New Jersey golf course, went on to boast that the US nuclear arsenal was &quot;more powerful than ever.&quot; &nbsp;&nbsp;

Secretary of State Rex Tillerson took a very different tone, insisting there was &quot;no immediate threat&quot; from North Korea.

&quot;The comments by the State Secretary is a message that nothing important has been decided on North Korea,&quot; Haruki Kawaguchi, a manager in the stock trading department at Marusan Securities, told Bloomberg News.

Separately, however, US Defense Secretary Jim Mattis, who has often emphasised the devastating costs any conflict with North Korea could have, delivered a statement underscoring his boss&#39;s language.

The dollar fetched 110.09 yen in early Asian trade Thursday, slightly up from 110.02 yen in New York on Wednesday but down from 109.74 yen in Tokyo time Wednesday.

&quot;Amid tensions in the international arena, it&#39;s difficult to seek higher prices ahead of three days of holidays,&quot; Kawaguchi added.

The Tokyo markets will be closed on Friday for a national holiday and will reopen Monday.

Japan Display dropped 5.12 per cent to 185 yen after the smartphone screen maker said it would slash 3,700 jobs, or about 40 per cent of its workforce, adding the total restructuring costs would be about 170 billion yen ($1.5 billion).

Toyota was up 0.59 per cent at 6,273 yen, Panasonic was up 0.50 per cent at 1,494 yen, and SoftBank was up 0.31 per cent at 8,832 yen.

Toyota was up 0.59 per cent at 6,273 yen, Panasonic was up 0.50 per cent at 1,494 yen, and SoftBank was up 0.31 per cent at 8,832 yen.

Tokyo stocks opened higher Thursday as worries about US-North Korea tensions eased while the yen's appreciation against the dollar peaked out. The benchmark Nikkei 225 index rose 0.18 per cent, or 35.87 points, to 19,774.58 in the first few minutes while the Topix index of all first-section issues was up 0.07 per cent, or 1.12 points, at 1,619.02. The slight rally came after world stock markets slid Wednesday on concerns linked to the harsh threats and sabre rattling from US President Donald Trump against Pyongyang. Trump warned North Korean leader Kim Jong-Un that he faced "fire and fury" over his weapons and ballistic missile programs. Trump, enjoying a working holiday at his New Jersey golf course, went on to boast that the US nuclear arsenal was "more powerful than ever." Secretary of State Rex Tillerson took a very different tone, insisting there was "no immediate threat" from North Korea. "The comments by the State Secretary is a message that nothing important has been decided on North Korea," Haruki Kawaguchi, a manager in the stock trading department at Marusan Securities, told Bloomberg News. Separately, however, US Defense Secretary Jim Mattis, who has often emphasised the devastating costs any conflict with North Korea could have, delivered a statement underscoring his boss's language. The dollar fetched 110.09 yen in early Asian trade Thursday, slightly up from 110.02 yen in New York on Wednesday but down from 109.74 yen in Tokyo time Wednesday. "Amid tensions in the international arena, it's difficult to seek higher prices ahead of three days of holidays," Kawaguchi added. The Tokyo markets will be closed on Friday for a national holiday and will reopen Monday. Japan Display dropped 5.12 per cent to 185 yen after the smartphone screen maker said it would slash 3,700 jobs, or about 40 per cent of its workforce, adding the total restructuring costs would be about 170 billion yen ($1.5 billion). Toyota was up 0.59 per cent at 6,273 yen, Panasonic was up 0.50 per cent at 1,494 yen, and SoftBank was up 0.31 per cent at 8,832 yen.

Tokyo stocks open higher as worries about US-North Korea tensions ease

The Nikkei slumped to its lowest close for almost three months Wednesday, leading an Asia-wide sell-off sparked by President Donald Trump&#39;s apocalyptic warning over North Korea&#39;s weapons programme.&nbsp;

Escalating tensions around Pyongyang&#39;s nuclear ambitions sent a shiver through markets worldwide and pushed the dollar to below 109.7 yen in afternoon forex trade to an eight-week low against the safe haven currency, piling more pressure on Japanese stocks.&nbsp;

Tokyo&#39;s blue-chip index tumbled 1.3 per cent to its lowest close since late May after the Dow&#39;s winning streak of nine straight records ended following Trump&#39;s sharp rhetoric of &quot;fire and fury&quot;, with the main European bourses also opening lower Wednesday. &nbsp;

Hong Kong and Shanghai followed Tokyo into the red, as China factory gate inflation came in slightly below forecast amid warnings from experts of a further slowdown in the world&#39;s second-largest economy.&nbsp;

Stocks ended more than one per cent down in Seoul while the won slumped to a three-week low against the dollar as the US president and South Korea&#39;s volatile neighbour dramatically ramped up their war of words.

Tensions spiked yet further when North Korean state media later said Pyongyang was considering strikes near US military installations in Guam.

But analysts said equities had also fallen as investors took profits.&nbsp;

&quot;North Korea is being used as a reason to sell Japanese stocks, just as it was used yesterday in the US,&quot; said Soichiro Monji from Daiwa SB Investments in Tokyo.

&quot;Japanese equities hadn&#39;t been rising much despite positive earnings results, so investors had started jumping at shadows, doubting whether they should really be holdings onto Japanese stocks.&quot;

US equities had been on track for a 10th-straight record session Tuesday and the dollar was initially up after the JOLTS survey showed job openings hit a record in the US last month.

Greg McKenna, an analyst at AxiTrader, said the data could bolster the Federal Reserve&#39;s plan to start winding in its multi-trillion-dollar bond holdings balance sheet, expected to be announced next month.&nbsp;

&quot;This is Janet Yellen&#39;s favoured labour market indicator and could reinforce Yellen and her colleagues about the path they have set for policy normalisation,&quot; he said.

The positive data also bolstered the greenback against the euro and the pound Wednesday. &nbsp;&nbsp;

Sydney was a rare bright spot in Asia-Pacific with stocks closing 0.4 per cent up as Australia&#39;s biggest bank posted record annual profits.

The Commonwealth Bank of Australia&#39;s profits are closely watched and the results provide a guidance on the health of the country&#39;s economy as it transitions away from a dependence on mining.

In commodities trading, US crude oil was wallowing around $49 to the barrel amid speculation that a predicted gain in American output will offset OPEC-led efforts to trim a global glut.

Chris Weston, chief market strategist at IG Markets, said signals around oil production were &quot;messy&quot;.

The US Energy Information Administration raised its 2017 and 2018 US crude output estimates to 9.9 million and 9.33 million barrels a day respectively, Weston said, but &quot;on the other hand, we are hearing the UAE, Kazakhstan and Iraq will fully comply with the OPEC agreement&quot; to cut oversupply.

Escalating tensions around Pyongyang's nuclear ambitions sent a shiver through markets worldwide

The Nikkei slumped to its lowest close for almost three months Wednesday, leading an Asia-wide sell-off sparked by President Donald Trump's apocalyptic warning over North Korea's weapons programme. Escalating tensions around Pyongyang's nuclear ambitions sent a shiver through markets worldwide and pushed the dollar to below 109.7 yen in afternoon forex trade to an eight-week low against the safe haven currency, piling more pressure on Japanese stocks. Tokyo's blue-chip index tumbled 1.3 per cent to its lowest close since late May after the Dow's winning streak of nine straight records ended following Trump's sharp rhetoric of "fire and fury", with the main European bourses also opening lower Wednesday. Hong Kong and Shanghai followed Tokyo into the red, as China factory gate inflation came in slightly below forecast amid warnings from experts of a further slowdown in the world's second-largest economy. Stocks ended more than one per cent down in Seoul while the won slumped to a three-week low against the dollar as the US president and South Korea's volatile neighbour dramatically ramped up their war of words. Tensions spiked yet further when North Korean state media later said Pyongyang was considering strikes near US military installations in Guam. But analysts said equities had also fallen as investors took profits. "North Korea is being used as a reason to sell Japanese stocks, just as it was used yesterday in the US," said Soichiro Monji from Daiwa SB Investments in Tokyo. "Japanese equities hadn't been rising much despite positive earnings results, so investors had started jumping at shadows, doubting whether they should really be holdings onto Japanese stocks." US equities had been on track for a 10th-straight record session Tuesday and the dollar was initially up after the JOLTS survey showed job openings hit a record in the US last month. Greg McKenna, an analyst at AxiTrader, said the data could bolster the Federal Reserve's plan to start winding in its multi-trillion-dollar bond holdings balance sheet, expected to be announced next month. "This is Janet Yellen's favoured labour market indicator and could reinforce Yellen and her colleagues about the path they have set for policy normalisation," he said. The positive data also bolstered the greenback against the euro and the pound Wednesday. Sydney was a rare bright spot in Asia-Pacific with stocks closing 0.4 per cent up as Australia's biggest bank posted record annual profits. The Commonwealth Bank of Australia's profits are closely watched and the results provide a guidance on the health of the country's economy as it transitions away from a dependence on mining. In commodities trading, US crude oil was wallowing around $49 to the barrel amid speculation that a predicted gain in American output will offset OPEC-led efforts to trim a global glut. Chris Weston, chief market strategist at IG Markets, said signals around oil production were "messy". The US Energy Information Administration raised its 2017 and 2018 US crude output estimates to 9.9 million and 9.33 million barrels a day respectively, Weston said, but "on the other hand, we are hearing the UAE, Kazakhstan and Iraq will fully comply with the OPEC agreement" to cut oversupply.

Dollar slumps, Tokyo tanks as North Korea tensions spike

Shares of Tata Steel rose by over<a href="http://www.wionews.com/business-economy/sensex-edges-down-tata-steel-rises-ahead-of-results-18706"> 4 per cent </a><a href="http://www.wionews.com/business-economy/sensex-edges-down-tata-steel-rises-ahead-of-results-18706">today,</a><a href="http://www.wionews.com/business-economy/sensex-edges-down-tata-steel-rises-ahead-of-results-18706"> after the company returned to profit</a> in the quarter ended June 30, 2017. 
 
After making a positive opening, shares of the company further jumped 4.15 per cent to Rs 624.95--its 52-week high--on BSE. 
 
At NSE, shares of the company gained 4.24 per cent to hit its one year high of Rs 625.50. 
 
Yesterday, Tata Steel posted a consolidated net profit of Rs 921.09 crore for the quarter ended June on the back of higher revenue from operations. 
 
The company had posted a consolidated net loss of Rs 3,183 crore in the year-ago period, Tata Steel said in a filing to BSE. 
 
&quot;Our sales were up by 28 per cent on a y-o-y basis as the smooth ramp up of our Kalinganagar facility helped us increase our volumes and increase our market share,&quot; T V Narendran, Managing Director, Tata Steel India and South East Asia said in a statement. 
 
The consolidated revenue from operations during April- June quarter was at Rs 30,973 crore, registering an increase of 19 per cent.

After making a positive opening, shares of the company further jumped 4.15 per cent to Rs 624.95

Shares of Tata Steel rose by over 4 per cent today, after the company returned to profit in the quarter ended June 30, 2017. After making a positive opening, shares of the company further jumped 4.15 per cent to Rs 624.95--its 52-week high--on BSE. At NSE, shares of the company gained 4.24 per cent to hit its one year high of Rs 625.50. Yesterday, Tata Steel posted a consolidated net profit of Rs 921.09 crore for the quarter ended June on the back of higher revenue from operations. The company had posted a consolidated net loss of Rs 3,183 crore in the year-ago period, Tata Steel said in a filing to BSE. "Our sales were up by 28 per cent on a y-o-y basis as the smooth ramp up of our Kalinganagar facility helped us increase our volumes and increase our market share," T V Narendran, Managing Director, Tata Steel India and South East Asia said in a statement. The consolidated revenue from operations during April- June quarter was at Rs 30,973 crore, registering an increase of 19 per cent.

Tata Steel shares zoom after first quarter results

Stock markets mostly rose Tuesday following the previous session&#39;s record runs triggered by the first-round result of France&#39;s presidential election.

Gains were strongest in the US, where the Nasdaq surged above 6,000 for the first time and the blue-chip Dow index jumped more than one per cent following several strong earnings reports from big companies.

The increases were more modest among European equity indices, while the euro reached its highest level so far of 2017 against the dollar. &nbsp;

Global shares had soared Monday after centrist Emmanuel Macron topped the initial vote and looked well on course to beat far-right candidate Marine Le Pen in the May 7 run-off.

&quot;Markets have continued their push higher from yesterday, although at a much more relaxed pace,&quot; said Chris Beauchamp, chief market analyst at IG trading group.&nbsp;

&quot;The immediate impact of Macron&#39;s first-round success is wearing off, but the relief is still palpable among investors.&quot;

The outlook also improved for the euro currency, which no longer looks vulnerable to a so-called Frexit threatened by Le Pen.

&quot;The risk of both the euro zone and the broader European Union unraveling dissipated in a meaningful way with centrist Emmanuel Macron finishing first in last week&#39;s preliminary election and projected to take the next and final round of voting on May 7,&quot; said Joe Manimbo, senior market analyst at Western Union Business Solutions.

In the US, gains were propelled in part by strong earnings with three Dow members posting strong advances after reporting solid earnings. Industrial giant Caterpillar surged 7.9 per cent, DuPont 3.6 per cent and McDonald&#39;s 5.6 perc ent.

Analysts also have been heartened by talk in recent days from the White House touting news of a long-awaited tax cut plan, with President Donald Trump expected to release details on Wednesday.

Key figures&nbsp;at 2100 GMT&nbsp;

New York - Dow: UP 1.1 per cent at&nbsp;20,996.12 (close)

New York - S&amp;P 500: UP 0.6 per cent at 2,388.61 (close)

New York - Nasdaq: UP 0.7 per cent at 6,025.49 (close)

London - FTSE 100: UP 0.2&nbsp;per cent at 7,275.64 points (close)

Frankfurt - DAX 30: UP 0.1 per cent at 12,467.04 (close)

Paris - CAC 40: UP 0.2&nbsp;per cent at 5,277.88 (close)

EURO STOXX 50: UP 0.2&nbsp;per cent at 3,583.16

Tokyo - Nikkei 225: UP 1.1 per cent at 19,079.33 (close)

Hong Kong - Hang Seng: UP 1.3 per cent at 24,455.94 (close)

Shanghai - Composite: UP 0.2 per cent at 3,134.57 (close)

Euro/dollar: UP at $1.0934 from $1.0867 at 2100 GMT

Pound/dollar: UP at $1.2835 from $1.2793

Dollar/yen: UP at 111.12 yen from 109.78 yen

Oil - Brent North Sea: UP 50 cents at $52.10 per barrel

Oil - West Texas Intermediate: UP 33 cents at $49.56 per barrel&nbsp;

(AFP)

The outlook also improved for the euro currency, after Macron fared better than eurosceptic Marine Le Pen in the first round of French polls

Stock markets mostly rose Tuesday following the previous session's record runs triggered by the first-round result of France's presidential election. Gains were strongest in the US, where the Nasdaq surged above 6,000 for the first time and the blue-chip Dow index jumped more than one per cent following several strong earnings reports from big companies. The increases were more modest among European equity indices, while the euro reached its highest level so far of 2017 against the dollar. Global shares had soared Monday after centrist Emmanuel Macron topped the initial vote and looked well on course to beat far-right candidate Marine Le Pen in the May 7 run-off. "Markets have continued their push higher from yesterday, although at a much more relaxed pace," said Chris Beauchamp, chief market analyst at IG trading group. "The immediate impact of Macron's first-round success is wearing off, but the relief is still palpable among investors." The outlook also improved for the euro currency, which no longer looks vulnerable to a so-called Frexit threatened by Le Pen. "The risk of both the euro zone and the broader European Union unraveling dissipated in a meaningful way with centrist Emmanuel Macron finishing first in last week's preliminary election and projected to take the next and final round of voting on May 7," said Joe Manimbo, senior market analyst at Western Union Business Solutions. In the US, gains were propelled in part by strong earnings with three Dow members posting strong advances after reporting solid earnings. Industrial giant Caterpillar surged 7.9 per cent, DuPont 3.6 per cent and McDonald's 5.6 perc ent. Analysts also have been heartened by talk in recent days from the White House touting news of a long-awaited tax cut plan, with President Donald Trump expected to release details on Wednesday. Key figures at 2100 GMT New York - Dow: UP 1.1 per cent at 20,996.12 (close) New York - S&P 500: UP 0.6 per cent at 2,388.61 (close) New York - Nasdaq: UP 0.7 per cent at 6,025.49 (close) London - FTSE 100: UP 0.2 per cent at 7,275.64 points (close) Frankfurt - DAX 30: UP 0.1 per cent at 12,467.04 (close) Paris - CAC 40: UP 0.2 per cent at 5,277.88 (close) EURO STOXX 50: UP 0.2 per cent at 3,583.16 Tokyo - Nikkei 225: UP 1.1 per cent at 19,079.33 (close) Hong Kong - Hang Seng: UP 1.3 per cent at 24,455.94 (close) Shanghai - Composite: UP 0.2 per cent at 3,134.57 (close) Euro/dollar: UP at $1.0934 from $1.0867 at 2100 GMT Pound/dollar: UP at $1.2835 from $1.2793 Dollar/yen: UP at 111.12 yen from 109.78 yen Oil - Brent North Sea: UP 50 cents at $52.10 per barrel Oil - West Texas Intermediate: UP 33 cents at $49.56 per barrel (AFP)

French election result revs up global stocks; Nasdaq touches 6,000

The NSE Nifty hit a record high while the rupee rose to its strongest level in nearly 17-months on Thursday after the U.S. Federal Reserve raised interest rates as expected but signalled no pick-up in the pace of tightening.&nbsp;

The NSE Nifty rose as much as 0.64 per cent to a record high of 9,143 points, and was up 0.59 per cent as of 0350 GMT. The benchmark BSE Sensex was up 0.55 per cent.

The partially convertible rupee hit as much as 65.2250 per dollar, its strongest since October 30, 2015. It was last trading at 65.32/33 compared to its 65.71/72 close.

Meanwhile the benchmark 10-year bond yield fell 4 basis points to 6.79 per cent.

(Reuters)

&nbsp;

The NSE Nifty rose as much as 0.64 per cent to a record high of 9,143 points, and was up 0.59 per cent as of 0350 GMT

The NSE Nifty hit a record high while the rupee rose to its strongest level in nearly 17-months on Thursday after the U.S. Federal Reserve raised interest rates as expected but signalled no pick-up in the pace of tightening. The NSE Nifty rose as much as 0.64 per cent to a record high of 9,143 points, and was up 0.59 per cent as of 0350 GMT. The benchmark BSE Sensex was up 0.55 per cent. The partially convertible rupee hit as much as 65.2250 per dollar, its strongest since October 30, 2015. It was last trading at 65.32/33 compared to its 65.71/72 close. Meanwhile the benchmark 10-year bond yield fell 4 basis points to 6.79 per cent. (Reuters)

Nifty hits record, rupee reaches 17-month high

Asian stocks inched up on Friday, after a surge in oil prices helped propel Wall Street to record highs overnight, while Chinese economic indicators that missed expectations did not dent gains in mainland shares. 
 
MSCI&#39;s broadest index of Asia-Pacific shares outside Japan nudged up 0.2 per cent. It was on track to gain 1.9 per cent for the week. 
 
Both China&#39;s CSI300 index and the Shanghai Composite rose about 0.5 pe rcent after fixed asset investment, retail sales and industrial output all rose but were below expectations. Both indexes were headed for gains of about 1.4 per cent for the week. 
 
Fixed asset investment from January to July increased by 8.1 per cent from a year earlier, the slowest rate in more than 16 years, compared with expectations for 8.8 per cent. 
 
July retail sales increased 10.2 per cent, versus 10.6 per cent the previous month and a forecast 10.5 per cent. Industrial output rose 6.0 per cent from a year earlier, slowing from June&#39;s 6.2 per cent and just missing forecasts of 6.1 per cent. 
 
Hong Kong shares rose 0.7 per cent and were at their highest in more than eight months. 
 
Japan&#39;s Nikkei rose 0.7 per cent on a slightly weaker yen, and is poised to end the week 3.7 per cent higher. 
 
South Korea&#39;s Kospi, which touched the highest level since July 2015, was little changed. Australian stocks gained 0.3 per cent. 
 
The S&amp;P 500, the Dow and Nasdaq all closed at historic highs on Thursday for the first time since 1999 on higher crude oil and upbeat corporate results. 
 
The pan-European FTSEurofirst 300 stock index also jumped, climbing 0.85 per cent to its highest close since late May. 
 
MSCI&#39;s 46-country All World index held close to a one-year high touched overnight. 
 
Supporting investor appetite for risk, oil prices climbed more than 4 per cent overnight after a Saudi oil minister hinted at possible action to stabilise prices and triggered a round of buying. 
 
They retained that momentum on Friday, with US crude futures up 0.5 per cent at $43.72 a barrel, on track to gain 4.5 per cent on the week. 
 
Global benchmark Brent crude climbed 0.3 per cent to $46.18, set to end the week 4.6 per cent higher. 
 
&quot;Asia Pacific markets are set to finish the week on a high following strong leads from European and US investors,&quot; wrote Michael McCarthy, chief market strategist at CMC Markets. 
 
&quot;Industrial commodities rose, led by oil, and overnight trading displayed &#39;risk on&#39; characteristics despite the lack of an obvious trigger. Important data from China may change the course of the trading day.&quot; 
 
Global markets will also sift through the string of US data, notably retail sales, due later in the session for latest cues about the world&#39;s largest economy and whether it is robust enough to withstand further monetary tightening. 
 
US retail sales are expected to show a 0.4 per cent monthly increase in July, according to the median estimate of 64 economists polled by Reuters. 
 
In currencies, the dollar rose after San Francisco Fed President John Williams told the Washington Post that the US central bank should raise rates this year because of improving labour market conditions and the likelihood that inflation is heading higher. 
 
The greenback inched up 0.1 per cent to 102.035 yen after gaining 0.7 per cent on Thursday, and is heading for a 0.25 per cent weekly rise. The euro was steady at $1.11375 after losing 0.3 per cent overnight. 
 
The dollar index, which tracks the greenback against a basket of six major peers, rose 0.1 per cent to 95.924, but was on track for a loss of 0.3 per cent for the week. 
 
The New Zealand dollar slipped 0.1 per cent to $0.7202 after surging on Thursday to $0.7351, its highest in more than a year after the Reserve Bank of New Zealand cut rates by 25 basis points to 2.0 per cent, a smaller cut than some investors had expected. 
 
The Australian dollar dipped 0.3 per cent to $0.7678 . 
 
(Reuters) 
 
 
&nbsp;

Hong Kong shares rose 0.7 per cent and were at their highest in eight months,?Japan's Nikkei rose 0.7 per cent on a slightly weaker Yen

Asian stocks inched up on Friday, after a surge in oil prices helped propel Wall Street to record highs overnight, while Chinese economic indicators that missed expectations did not dent gains in mainland shares. MSCI's broadest index of Asia-Pacific shares outside Japan nudged up 0.2 per cent. It was on track to gain 1.9 per cent for the week. Both China's CSI300 index and the Shanghai Composite rose about 0.5 pe rcent after fixed asset investment, retail sales and industrial output all rose but were below expectations. Both indexes were headed for gains of about 1.4 per cent for the week. Fixed asset investment from January to July increased by 8.1 per cent from a year earlier, the slowest rate in more than 16 years, compared with expectations for 8.8 per cent. July retail sales increased 10.2 per cent, versus 10.6 per cent the previous month and a forecast 10.5 per cent. Industrial output rose 6.0 per cent from a year earlier, slowing from June's 6.2 per cent and just missing forecasts of 6.1 per cent. Hong Kong shares rose 0.7 per cent and were at their highest in more than eight months. Japan's Nikkei rose 0.7 per cent on a slightly weaker yen, and is poised to end the week 3.7 per cent higher. South Korea's Kospi, which touched the highest level since July 2015, was little changed. Australian stocks gained 0.3 per cent. The S&P 500, the Dow and Nasdaq all closed at historic highs on Thursday for the first time since 1999 on higher crude oil and upbeat corporate results. The pan-European FTSEurofirst 300 stock index also jumped, climbing 0.85 per cent to its highest close since late May. MSCI's 46-country All World index held close to a one-year high touched overnight. Supporting investor appetite for risk, oil prices climbed more than 4 per cent overnight after a Saudi oil minister hinted at possible action to stabilise prices and triggered a round of buying. They retained that momentum on Friday, with US crude futures up 0.5 per cent at $43.72 a barrel, on track to gain 4.5 per cent on the week. Global benchmark Brent crude climbed 0.3 per cent to $46.18, set to end the week 4.6 per cent higher. "Asia Pacific markets are set to finish the week on a high following strong leads from European and US investors," wrote Michael McCarthy, chief market strategist at CMC Markets. "Industrial commodities rose, led by oil, and overnight trading displayed 'risk on' characteristics despite the lack of an obvious trigger. Important data from China may change the course of the trading day." Global markets will also sift through the string of US data, notably retail sales, due later in the session for latest cues about the world's largest economy and whether it is robust enough to withstand further monetary tightening. US retail sales are expected to show a 0.4 per cent monthly increase in July, according to the median estimate of 64 economists polled by Reuters. In currencies, the dollar rose after San Francisco Fed President John Williams told the Washington Post that the US central bank should raise rates this year because of improving labour market conditions and the likelihood that inflation is heading higher. The greenback inched up 0.1 per cent to 102.035 yen after gaining 0.7 per cent on Thursday, and is heading for a 0.25 per cent weekly rise. The euro was steady at $1.11375 after losing 0.3 per cent overnight. The dollar index, which tracks the greenback against a basket of six major peers, rose 0.1 per cent to 95.924, but was on track for a loss of 0.3 per cent for the week. The New Zealand dollar slipped 0.1 per cent to $0.7202 after surging on Thursday to $0.7351, its highest in more than a year after the Reserve Bank of New Zealand cut rates by 25 basis points to 2.0 per cent, a smaller cut than some investors had expected. The Australian dollar dipped 0.3 per cent to $0.7678 . (Reuters)

Asia rises on Wall Street's record highs while China data misses forecasts

World stocks hit a new one-year high today, while the dollar and benchmark government bond yields sank and precious metals rose after weak US productivity data again pushed back expectations of a Federal Reserve rate hike. 
 
Wall Street was expected to grind fractionally higher when it resumes, with jobs and housing market data on the agenda. 
 
Europe&#39;s main bourses were struggling with modest 0.3-0.4 per cent losses due to weak company results, although the MSCI&#39;s 46-country All World index remained positive after overnight Asian gains. 
 
With the focus on signs of pressure in the United States economy, demand for bonds firmed again, a factor already highlighted on Tuesday by the Bank of England&#39;s failure to prise enough debt from investors to meet its revamped bond-buying plan.. 
 
US Treasury yields dropped to 1.536 per cent in Europe, while Germany&#39;s 10-year bonds yield fell 1.4 basis points to minus 0.16 per cent as Berlin sold 4 billion Euros of bond at a new record low average yield of -0.09 per cent. 
 
The 10-year UK gilt yield also sank to a record low of 0.54 per cent in the wake of the BoE&#39;s bond buying issues. 
 
&quot;Central banks look increasingly accommodative and no one seems to be going against that trend ... which supports all asset prices,&quot; said Anton Heese, head of European rates strategy at Morgan Stanley in London. 
 
&quot;The growth prospects for the US economy are probably weaker than many anticipate.&quot; 
 
The bond moves had a clear impact on currencies, with the Dollar index, which tracks the US greenback against a basket of other top currencies, seeing its biggest drop in over a week, falling 0.65 per cent to 95.559. 
 
That in turn sent the Euro up 0.6 per cent to $1.1186, extending its recovery from Friday&#39;s one-week low of $1.1046. The Yen climbed to 101.20 per dollar and even the recently buffeted UK pound made ground. 
 
&quot;The release of the third consecutive decline in quarterly US productivity, the worst run since at least 1980, does not bode well for the prospects for the Dollar,&quot; Morgan Stanley head of currency strategy, Hans Redeker, said. 
 
 
Good as gold 
 
The Australian Dollar advanced to a more than three-month peak of $0.7729, having been buoyed this week by Australia&#39;s relatively high yields and stronger investor risk appetite. 
 
&quot;Part of the Australian dollar&#39;s resilience is the lack of follow-through in pricing for a Fed hike in September, limiting the US dollar&#39;s gains,&quot; analysts at Westpac said in a note. They recommended investors buy the Australian Dollar. 
 
The US dollar&#39;s weakness gave gold a lift, with the precious metal gaining 0.9 per cent to $1,352.26 an ounce. 
 
Palladium jumped more than 7 per cent to a 14-month high at one point as bets on lower prices were reversed after the metal, which is used in car catalytic converters among other things, broke above key chart levels. It surged nearly 20 per cent last month in its biggest one-month rise in 8-1/2 years. 
 
That may mean investors who had bet on lower prices could be exposed to heavy losses. 
 
&quot;You can talk about fundamental explanations, strong car sales, a reduction in supply from Russia, but those didn&#39;t happen overnight,&quot; Macquarie analyst Matthew Turner said. 
 
Oil prices slipped for a second straight day as top producer Saudi Arabia revealed its output hit a record 10.67 million barrels per day last month. It came after data had also shown a surprise US crude stockpile build. 
 
Brent futures fell as much as 1.5 per cent to $44.30 per barrel before recovering to $44.95. US crude also slipped 0.4 per cent to $42.62, extending Tuesday&#39;s 0.6 per cent decline. 
 
Emerging market stocks showed little reaction to the crude moves as they rose for a fifth straight day with many EM currencies also strengthening following the dollar&#39;s sell-off. 
 
MSCI&#39;s emerging market index hit a new one-year high as gains across Asia and other markets such as Greece and the Czech Republic helped extend its rise this month to over 3.5 per cent. 
 
(Reuters)

The US Dollar's weakness gave gold a lift, with the precious metal gaining 0.9 per cent to $1,352.26 an ounce

World stocks hit a new one-year high today, while the dollar and benchmark government bond yields sank and precious metals rose after weak US productivity data again pushed back expectations of a Federal Reserve rate hike. Wall Street was expected to grind fractionally higher when it resumes, with jobs and housing market data on the agenda. Europe's main bourses were struggling with modest 0.3-0.4 per cent losses due to weak company results, although the MSCI's 46-country All World index remained positive after overnight Asian gains. With the focus on signs of pressure in the United States economy, demand for bonds firmed again, a factor already highlighted on Tuesday by the Bank of England's failure to prise enough debt from investors to meet its revamped bond-buying plan.. US Treasury yields dropped to 1.536 per cent in Europe, while Germany's 10-year bonds yield fell 1.4 basis points to minus 0.16 per cent as Berlin sold 4 billion Euros of bond at a new record low average yield of -0.09 per cent. The 10-year UK gilt yield also sank to a record low of 0.54 per cent in the wake of the BoE's bond buying issues. "Central banks look increasingly accommodative and no one seems to be going against that trend ... which supports all asset prices," said Anton Heese, head of European rates strategy at Morgan Stanley in London. "The growth prospects for the US economy are probably weaker than many anticipate." The bond moves had a clear impact on currencies, with the Dollar index, which tracks the US greenback against a basket of other top currencies, seeing its biggest drop in over a week, falling 0.65 per cent to 95.559. That in turn sent the Euro up 0.6 per cent to $1.1186, extending its recovery from Friday's one-week low of $1.1046. The Yen climbed to 101.20 per dollar and even the recently buffeted UK pound made ground. "The release of the third consecutive decline in quarterly US productivity, the worst run since at least 1980, does not bode well for the prospects for the Dollar," Morgan Stanley head of currency strategy, Hans Redeker, said. Good as gold The Australian Dollar advanced to a more than three-month peak of $0.7729, having been buoyed this week by Australia's relatively high yields and stronger investor risk appetite. "Part of the Australian dollar's resilience is the lack of follow-through in pricing for a Fed hike in September, limiting the US dollar's gains," analysts at Westpac said in a note. They recommended investors buy the Australian Dollar. The US dollar's weakness gave gold a lift, with the precious metal gaining 0.9 per cent to $1,352.26 an ounce. Palladium jumped more than 7 per cent to a 14-month high at one point as bets on lower prices were reversed after the metal, which is used in car catalytic converters among other things, broke above key chart levels. It surged nearly 20 per cent last month in its biggest one-month rise in 8-1/2 years. That may mean investors who had bet on lower prices could be exposed to heavy losses. "You can talk about fundamental explanations, strong car sales, a reduction in supply from Russia, but those didn't happen overnight," Macquarie analyst Matthew Turner said. Oil prices slipped for a second straight day as top producer Saudi Arabia revealed its output hit a record 10.67 million barrels per day last month. It came after data had also shown a surprise US crude stockpile build. Brent futures fell as much as 1.5 per cent to $44.30 per barrel before recovering to $44.95. US crude also slipped 0.4 per cent to $42.62, extending Tuesday's 0.6 per cent decline. Emerging market stocks showed little reaction to the crude moves as they rose for a fifth straight day with many EM currencies also strengthening following the dollar's sell-off. MSCI's emerging market index hit a new one-year high as gains across Asia and other markets such as Greece and the Czech Republic helped extend its rise this month to over 3.5 per cent. (Reuters)

World stocks hit 1-year high as US data saps dollar, bond yields

US stocks traded near record highs today morning as a rise in technology stocks added to the lift from steadying oil prices. 
 
Oil edged further above $45 on estimates of a drop in US inventories and speculation of producer action to freeze output. 
 
&quot;Today, it seems like whatever oil does, equities will follow,&quot; said Peter Cardillo, chief market economist at First Standard Financial in New York. 
 
The S&amp;P 500 index&#39;s technology index rose 0.17 per cent, helped by gains in Cisco, which rose 0.7 per cent after Citigroup raised its price target. The stock gave the biggest boost to the S&amp;P and the Nasdaq. 
 
Microchip Tech soared 9.4 per cent to $61.980 after the company&#39;s first-quarter revenue beat analysts&#39; estimate. 
 
A forecast-beating payrolls report on Friday has helped bring back some of the risk-on mode in the markets. Safe havens gold and the Japanese yen were lower today. 
 
At 9.42 a.m. ET (1342 GMT), the Dow Jones Industrial Average was up 29.2 points, or 0.16 per cent, at 18,558.49. 
 
The S&amp;P 500 was up 2.26 points, or 0.1 per cent, at 2,183.15, just 2 points shy of its 2,185.44 record high. 
 
The Nasdaq Composite was up 9.67 points, or 0.19 per cent, at 5,222.81. 
 
Seven of the 10 major S&amp;P 500 indexes were higher, led by a 0.28 per cent rise in the materials sector. 
 
Valeant jumped 11.67 per cent after the company maintained its full-year forecast and said it was evaluating alternatives for its non-core business and geographies. 
 
Endo International surged 10.5 per cent to $20.12 after the drugmaker&#39;s second-quarter revenue and profit beat estimates. The stock was the top percentage gainer among S&amp;P 500 companies. 
 
Advancing issues outnumbered decliners on the NYSE by 1,583 to 1,039. On the Nasdaq, 1,393 issues rose and 908 fell. 
 
The S&amp;P 500 index showed 18 new 52-week highs and no new lows, while the Nasdaq recorded 41 new highs and eight new lows. 
 
(Reuters)

Oil edged further above $45 on estimates of a drop in US inventories

US stocks traded near record highs today morning as a rise in technology stocks added to the lift from steadying oil prices. Oil edged further above $45 on estimates of a drop in US inventories and speculation of producer action to freeze output. "Today, it seems like whatever oil does, equities will follow," said Peter Cardillo, chief market economist at First Standard Financial in New York. The S&P 500 index's technology index rose 0.17 per cent, helped by gains in Cisco, which rose 0.7 per cent after Citigroup raised its price target. The stock gave the biggest boost to the S&P and the Nasdaq. Microchip Tech soared 9.4 per cent to $61.980 after the company's first-quarter revenue beat analysts' estimate. A forecast-beating payrolls report on Friday has helped bring back some of the risk-on mode in the markets. Safe havens gold and the Japanese yen were lower today. At 9.42 a.m. ET (1342 GMT), the Dow Jones Industrial Average was up 29.2 points, or 0.16 per cent, at 18,558.49. The S&P 500 was up 2.26 points, or 0.1 per cent, at 2,183.15, just 2 points shy of its 2,185.44 record high. The Nasdaq Composite was up 9.67 points, or 0.19 per cent, at 5,222.81. Seven of the 10 major S&P 500 indexes were higher, led by a 0.28 per cent rise in the materials sector. Valeant jumped 11.67 per cent after the company maintained its full-year forecast and said it was evaluating alternatives for its non-core business and geographies. Endo International surged 10.5 per cent to $20.12 after the drugmaker's second-quarter revenue and profit beat estimates. The stock was the top percentage gainer among S&P 500 companies. Advancing issues outnumbered decliners on the NYSE by 1,583 to 1,039. On the Nasdaq, 1,393 issues rose and 908 fell. The S&P 500 index showed 18 new 52-week highs and no new lows, while the Nasdaq recorded 41 new highs and eight new lows. (Reuters)

Wall Street near record highs as oil, tech stocks lift

Britain&#39;s new finance minister Philip Hammond, under pressure from his peers from around the world, said today there could be more clarity later this year on how the country will exit the European Union. 
 
Several nations called on Britain during weekend talks on the world economy to explain how the politically fraught Brexit process will unfold in order to avoid adding a new drag on the long and slow recovery from the financial crisis. 
 
&quot;It&#39;s right at the top of the agenda here at the G20,&quot; Hammond said at the end of the two-day meeting of the Group of 20 leading economies in the Chinese city of Chengdu. &quot;It&#39;s a new factor affecting the global economic outlook and it has increased the uncertainty which the world economy faces.&quot; 
 
Britain was plunged into its biggest political crisis in decades by the June 23 Brexit vote and so far it has resisted calls from some other EU countries to trigger quickly the two-year process for negotiating its exit from the bloc. 
 
Prime Minister Theresa May, who has been in her job for less than two weeks, traveled to Germany and France last week to explain why she needed time to come up with an exit strategy. 
 
The EU&#39;s top economic official, Pierre Moscovici, said the bloc understood that Britain should not be rushed but &quot;at the same time let&#39;s not waste time, let&#39;s not have too much uncertainty, let&#39;s act and choose as swiftly as possible.&quot; 
 
Hammond told reporters today the two-year negotiating period, once launched, represented &quot;quite a tight timescale&quot; and Britain needed to go into it with clear objectives. &quot;We have to do that before the start of the process because when we serve that notice, we need to hit the ground running,&quot; he said. 
 
But Hammond also showed he was aware of the need for some clarity on Brexit: &quot;What will start to reduce uncertainty is when we are able to set out more clearly the kind of arrangement we envisage going forward with the European Union.&quot; 
 
&quot;If our European Union partners respond to such a vision positively - obviously it will be subject to negotiation - so that there is a sense perhaps later this year that we are all on the same page in terms of where we expect to be going, I think that will send a reassuring signal to the business community and to markets,&quot; Hammond said. 
 
May has said she does not plan to launch the formal negotiation period this year. It remains to be seen if other EU countries would enter informal talks with Britain before the formal negotiations, something they have previously ruled out. 
 
Govt, Bank of England have to be ready 
 
Financial markets have stabilised after the initial shock of the referendum result which saw the value of the pound plunge by more than 10 per cent and trillions of dollars wiped off stock markets worldwide. But economists are expecting Britain to fall into a recession, according to a Reuters poll. 
 
Hammond said he did not think that a survey of British businesses published on Friday, which showed the sharpest fall on record in a purchasing managers index, was a sign that the economy was in already in a recession. 
 
&quot;What it does is underscore the hit to confidence,&quot; he said. 
 
Hammond warned that Brexit-related volatility in markets would be a risk throughout the two-year negotiation period. 
 
&quot;We have to be ready as government, the Bank of England has to be ready as monetary authority, throughout that period to respond to any instability created by that uncertainty and to ensure that the economy continues to operate smoothly,&quot; he said. 
 
The BoE is expected to cut interest rates and possibly announce more stimulus measures on August 4. Hammond has said he could ease fiscal policy in the autumn if more help is needed. 
 
Asked about a comment he made on Friday, that he might &quot;reset&quot; fiscal policy to cope with the Brexit fallout, Hammond said Britain&#39;s still high levels of debt meant it needed a new framework on its public finances to give clarity to markets. 
 
&quot;What that framework will look like will depend on the decisions we make about whether or not any fiscal stimulus is required on the basis of the data we will by then have available,&quot; he said. 
 
(Reuters)

Britain's finance minister accepted the need for some clarity on Brexit, said it's at the top of agenda at the G20

Britain's new finance minister Philip Hammond, under pressure from his peers from around the world, said today there could be more clarity later this year on how the country will exit the European Union. Several nations called on Britain during weekend talks on the world economy to explain how the politically fraught Brexit process will unfold in order to avoid adding a new drag on the long and slow recovery from the financial crisis. "It's right at the top of the agenda here at the G20," Hammond said at the end of the two-day meeting of the Group of 20 leading economies in the Chinese city of Chengdu. "It's a new factor affecting the global economic outlook and it has increased the uncertainty which the world economy faces." Britain was plunged into its biggest political crisis in decades by the June 23 Brexit vote and so far it has resisted calls from some other EU countries to trigger quickly the two-year process for negotiating its exit from the bloc. Prime Minister Theresa May, who has been in her job for less than two weeks, traveled to Germany and France last week to explain why she needed time to come up with an exit strategy. The EU's top economic official, Pierre Moscovici, said the bloc understood that Britain should not be rushed but "at the same time let's not waste time, let's not have too much uncertainty, let's act and choose as swiftly as possible." Hammond told reporters today the two-year negotiating period, once launched, represented "quite a tight timescale" and Britain needed to go into it with clear objectives. "We have to do that before the start of the process because when we serve that notice, we need to hit the ground running," he said. But Hammond also showed he was aware of the need for some clarity on Brexit: "What will start to reduce uncertainty is when we are able to set out more clearly the kind of arrangement we envisage going forward with the European Union." "If our European Union partners respond to such a vision positively - obviously it will be subject to negotiation - so that there is a sense perhaps later this year that we are all on the same page in terms of where we expect to be going, I think that will send a reassuring signal to the business community and to markets," Hammond said. May has said she does not plan to launch the formal negotiation period this year. It remains to be seen if other EU countries would enter informal talks with Britain before the formal negotiations, something they have previously ruled out. Govt, Bank of England have to be ready Financial markets have stabilised after the initial shock of the referendum result which saw the value of the pound plunge by more than 10 per cent and trillions of dollars wiped off stock markets worldwide. But economists are expecting Britain to fall into a recession, according to a Reuters poll. Hammond said he did not think that a survey of British businesses published on Friday, which showed the sharpest fall on record in a purchasing managers index, was a sign that the economy was in already in a recession. "What it does is underscore the hit to confidence," he said. Hammond warned that Brexit-related volatility in markets would be a risk throughout the two-year negotiation period. "We have to be ready as government, the Bank of England has to be ready as monetary authority, throughout that period to respond to any instability created by that uncertainty and to ensure that the economy continues to operate smoothly," he said. The BoE is expected to cut interest rates and possibly announce more stimulus measures on August 4. Hammond has said he could ease fiscal policy in the autumn if more help is needed. Asked about a comment he made on Friday, that he might "reset" fiscal policy to cope with the Brexit fallout, Hammond said Britain's still high levels of debt meant it needed a new framework on its public finances to give clarity to markets. "What that framework will look like will depend on the decisions we make about whether or not any fiscal stimulus is required on the basis of the data we will by then have available," he said. (Reuters)

UK seeks to assuage global worries over path to Brexit

Increased technology usage and digitisation of the economy have escalated cyberattacks in India, and nearly 70 per cent of Nifty 50 companies are vulnerable to hackers, reveals a PwC survey. 
 
According to the report, out of the 50 companies studied, 34 (or 68 per cent) had identified vulnerabilities in at least one or more of their Internet-facing properties. 
 
The PwC survey about transgressions in Indian cyberspace of these companies further said, 525 email addresses belonging to the 34 companies were compromised, meaning hackers had access to those email addresses. 
 
&quot;Cybersecurity is no more restricted to Chief Information Officers (CIOs) or Chief Security Officers (CSOs) but needs serious attention of the higher management,&quot; Sivarama Krishnan, the leader of cyber security at PwC India said. 
 
Furthermore, 200 IP addresses belonging to the 34 companies were blacklisted by various Internet Service Providers (ISPs), implying that the ISPs found these IPs to be involved in spreading malicious traffic on the Internet, sending spam emails, or acting as a botnet in large cyber attacks, the report noted. 
 
&quot;There is a perceptible shift in the way modern threats are carried out, and the types of responses needed, and the surge in cyber crimes, manifests how these attackers are extensively-equipped with resources besides having a high technical skill set,&quot; Krishnan added. 
 
Sectorwise, media &amp; entertainment, automobiles, consumer goods and energy had the highest number of vulnerabilities. 
 
&quot;Hackers today are just not the tech enthusiasts, but are more sophisticated and organised in their approach to probe their targets and companies need to, more than ever before, adopt sophisticated security analytical tools to prevent such crimes,&quot; Krishnan said. 
 
According to the report, transgressions in Indian cyberspace have more than doubled over the past year to 6,284 incidents per respondent. The average number of attacks in India is fast catching up with the global average of 6,853 incidents per respondent. 
(PTI)

Transgressions in Indian cyberspace have more than doubled over the past year, a PricewaterhouseCoopers report says

Increased technology usage and digitisation of the economy have escalated cyberattacks in India, and nearly 70 per cent of Nifty 50 companies are vulnerable to hackers, reveals a PwC survey. According to the report, out of the 50 companies studied, 34 (or 68 per cent) had identified vulnerabilities in at least one or more of their Internet-facing properties. The PwC survey about transgressions in Indian cyberspace of these companies further said, 525 email addresses belonging to the 34 companies were compromised, meaning hackers had access to those email addresses. "Cybersecurity is no more restricted to Chief Information Officers (CIOs) or Chief Security Officers (CSOs) but needs serious attention of the higher management," Sivarama Krishnan, the leader of cyber security at PwC India said. Furthermore, 200 IP addresses belonging to the 34 companies were blacklisted by various Internet Service Providers (ISPs), implying that the ISPs found these IPs to be involved in spreading malicious traffic on the Internet, sending spam emails, or acting as a botnet in large cyber attacks, the report noted. "There is a perceptible shift in the way modern threats are carried out, and the types of responses needed, and the surge in cyber crimes, manifests how these attackers are extensively-equipped with resources besides having a high technical skill set," Krishnan added. Sectorwise, media & entertainment, automobiles, consumer goods and energy had the highest number of vulnerabilities. "Hackers today are just not the tech enthusiasts, but are more sophisticated and organised in their approach to probe their targets and companies need to, more than ever before, adopt sophisticated security analytical tools to prevent such crimes," Krishnan said. According to the report, transgressions in Indian cyberspace have more than doubled over the past year to 6,284 incidents per respondent. The average number of attacks in India is fast catching up with the global average of 6,853 incidents per respondent. (PTI)

Rising cyberattacks affect majority of India's big companies

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