The S&P 500 and Nasdaq advanced on August 20, as gains in heavyweight tech stocks outweighed downbeat data that affirmed the Federal Reserve’s view of a difficult road to economic recovery.

US stocks outweighed downbeat data: Nasdaq composite added 1.06%

President Donald Trump's administration is considering delisting Chinese companies from US&nbsp;stock exchanges, three sources briefed on the matter said on Friday, in what would be a radical escalation of <a href="Asian markets slip amidst US-China trade war">US-China trade tensions</a>.

The move would be part of a broader effort to limit US&nbsp;investment in Chinese companies, two of the sources said. One said it was motivated by the Trump administration's growing security concerns about the companies' activities.

Major US&nbsp;stock indexes slipped on the news, which came days before China celebrates the 70th anniversary of the birth of the People's Republic on October&nbsp;1, when the world's No. 2 economy will shut down for a week of festivities.

Shares of Hangzhou, Zhejiang-based Alibaba ended down 5.15 per cent. JD.com fell by 5.95 per cent&nbsp;and Baidu Inc declined by 3.67 per cent. The iShares China Large-Cap ETF shed 1.15 per cent.

Shares of New York Stock Exchange-owner Intercontinental Exchange Inc ended down 1.88 per cent&nbsp;and shares of Nasdaq Inc declined by 1.70 per cent.

It was not immediately clear how any delisting would work.

In June, US&nbsp;lawmakers from both parties introduced a bill to force <a href="https://www.wionews.com/world/chinas-exports-fall-in-august-as-us-trade-war-rumbles-248393">Chinese companies</a>&nbsp;listed on American stock exchanges to submit to regulatory oversight, including providing access to audits, or face delisting.

Chinese authorities have long been reluctant to let overseas regulators inspect local accounting firms - including member firms of the Big Four international accounting networks - citing national security concerns.

"Beijing should no longer be allowed to shield US-listed Chinese companies from complying with American laws and regulations for financial transparency and accountability," Republican Senator Marco Rubio said at the time.

One of the sources briefed on the matter said the idea of delisting was the latest salvo in this longstanding dispute.

"This is a very high priority for the administration. Chinese companies not complying with the PCAOB (Public Company Accounting Oversight Board) process poses risks to US&nbsp;investors," the source said.

Any plan is subject to approval by Trump, who has given the green light to the discussion, Bloomberg reported, citing a person close to the deliberations.

Officials are also examining how the United States could put limits on Chinese companies included in stock indexes managed by US&nbsp;firms, the agency cited three sources as saying.

No decision or action is imminent, two sources familiar with the discussions told Reuters.

As of February, 156 Chinese companies were listed on the NASDAQ and New York Stock Exchanges, according to US&nbsp;government data, including at least 11 state-owned firms.&nbsp;

NYSE declined to comment on Friday, while Nasdaq, MSCI, S&amp;P and FTSE Russell did not immediately respond to requests for comment.

China's yuan currency, traded in offshore markets, fell against the dollar after the news to trade near its weakest against the greenback in about three weeks.

Ploy?

Trade talks between the United States and China are expected to be held October&nbsp;10-11 after months of tit-for-tat moves by both sides which have weakened global growth and driven rollercoaster moves in markets.

While the idea of delisting could be a manoeuvre ahead of those talks, the main aim was to counteract the civilian-military fusion of Chinese technology firms, the Made in China 2025 industrial development programme targeting key industries for domination and a growing surveillance state in Xinjiang, one of the sources said.

The source said there are longstanding concerns about US&nbsp;capital enabling these activities, especially as the lines blur between state-owned and private companies in China.

"It's all very disruptive, it just adds to uncertainty and it's a big negative for business investment," said Scott Brown, chief economist at investment bank Raymond James. He noted, however, that both sides have used aggressive moves in the past ahead of talks.

"You never know if it's a ploy to get some leverage," he said.

Trump on Tuesday criticized Beijing's trade practices in a speech at the United Nations, but the next day stoked hopes that the nearly 15-month standoff could be nearing an end.

"They want to make a deal very badly ... It could happen sooner than you think," he told reporters in New York on Wednesday.

China says it cannot allow its companies to submit to oversight by PCOAB because of rules prohibiting the storage, processing or transfer of any material considered to be state secrets or national security matters.

US hedge fund manager Kyle Bass, a prominent critic of China, said on Friday that <a href="https://www.wionews.com/world/chinas-exports-fall-in-august-as-us-trade-war-rumbles-248393">Chinese companies should have to play by US</a>&nbsp;rules if they want to sell to US&nbsp;investors.

"The US&nbsp;should require any securities sold in the US to adhere to US Securities Laws. Crazy huh?" Bass wrote on Twitter.

President Donald Trump's administration is considering delisting Chinese companies from US stock exchanges, three sources briefed on the matter said on Friday, in what would be a radical escalation of US-China trade tensions.

President Donald Trump's administration is considering delisting Chinese companies from US stock exchanges, three sources briefed on the matter said on Friday, in what would be a radical escalation of US-China trade tensions. The move would be part of a broader effort to limit US investment in Chinese companies, two of the sources said. One said it was motivated by the Trump administration's growing security concerns about the companies' activities. Major US stock indexes slipped on the news, which came days before China celebrates the 70th anniversary of the birth of the People's Republic on October 1, when the world's No. 2 economy will shut down for a week of festivities. Shares of Hangzhou, Zhejiang-based Alibaba ended down 5.15 per cent. JD.com fell by 5.95 per cent and Baidu Inc declined by 3.67 per cent. The iShares China Large-Cap ETF shed 1.15 per cent. Shares of New York Stock Exchange-owner Intercontinental Exchange Inc ended down 1.88 per cent and shares of Nasdaq Inc declined by 1.70 per cent. It was not immediately clear how any delisting would work. In June, US lawmakers from both parties introduced a bill to force Chinese companies listed on American stock exchanges to submit to regulatory oversight, including providing access to audits, or face delisting. Chinese authorities have long been reluctant to let overseas regulators inspect local accounting firms - including member firms of the Big Four international accounting networks - citing national security concerns. "Beijing should no longer be allowed to shield US-listed Chinese companies from complying with American laws and regulations for financial transparency and accountability," Republican Senator Marco Rubio said at the time. One of the sources briefed on the matter said the idea of delisting was the latest salvo in this longstanding dispute. "This is a very high priority for the administration. Chinese companies not complying with the PCAOB (Public Company Accounting Oversight Board) process poses risks to US investors," the source said. Any plan is subject to approval by Trump, who has given the green light to the discussion, Bloomberg reported, citing a person close to the deliberations. Officials are also examining how the United States could put limits on Chinese companies included in stock indexes managed by US firms, the agency cited three sources as saying. No decision or action is imminent, two sources familiar with the discussions told Reuters. As of February, 156 Chinese companies were listed on the NASDAQ and New York Stock Exchanges, according to US government data, including at least 11 state-owned firms. NYSE declined to comment on Friday, while Nasdaq, MSCI, S&P and FTSE Russell did not immediately respond to requests for comment. China's yuan currency, traded in offshore markets, fell against the dollar after the news to trade near its weakest against the greenback in about three weeks. Ploy? Trade talks between the United States and China are expected to be held October 10-11 after months of tit-for-tat moves by both sides which have weakened global growth and driven rollercoaster moves in markets. While the idea of delisting could be a manoeuvre ahead of those talks, the main aim was to counteract the civilian-military fusion of Chinese technology firms, the Made in China 2025 industrial development programme targeting key industries for domination and a growing surveillance state in Xinjiang, one of the sources said. The source said there are longstanding concerns about US capital enabling these activities, especially as the lines blur between state-owned and private companies in China. "It's all very disruptive, it just adds to uncertainty and it's a big negative for business investment," said Scott Brown, chief economist at investment bank Raymond James. He noted, however, that both sides have used aggressive moves in the past ahead of talks. "You never know if it's a ploy to get some leverage," he said. Trump on Tuesday criticized Beijing's trade practices in a speech at the United Nations, but the next day stoked hopes that the nearly 15-month standoff could be nearing an end. "They want to make a deal very badly ... It could happen sooner than you think," he told reporters in New York on Wednesday. China says it cannot allow its companies to submit to oversight by PCOAB because of rules prohibiting the storage, processing or transfer of any material considered to be state secrets or national security matters. US hedge fund manager Kyle Bass, a prominent critic of China, said on Friday that Chinese companies should have to play by US rules if they want to sell to US investors. "The US should require any securities sold in the US to adhere to US Securities Laws. Crazy huh?" Bass wrote on Twitter.

Trump considers delisting Chinese firms from US markets

The rupee opened 18 paise lower at 70.18 against the US dollar Friday on increased demand for the greenback from importers and banks amid lower opening of domestic equities.

Forex dealers said, strengthening of the American currency in the overseas market weighed on the domestic currency.

However, fresh foreign fund inflows, easing crude prices supported the rupee and restricted the fall.

The rupee opened weak at 70.18 at the interbank forex market, down 18 paise from its last close. The local currency, however, pared the initial loss and was trading at 70.11.

On Thursday, the rupee had strengthened 28 paise to close at 70 against the US dollar.

Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 1,137.85 crore Thursday, as per provisional data.

Meanwhile, Brent crude futures, the global oil benchmark, fell 0.74 per cent to $65.81 per barrel.

Indian bourses declined in early trade Friday with benchmark indices Sensex trading 62.24 points down at 36,663.18 and Nifty down 21.10 points at 11,031.65.

The rupee opened 18 paise lower at 70.18 against the US dollar Friday on increased demand for the greenback from importers and banks amid lower opening of domestic equities.

The rupee opened 18 paise lower at 70.18 against the US dollar Friday on increased demand for the greenback from importers and banks amid lower opening of domestic equities. Forex dealers said, strengthening of the American currency in the overseas market weighed on the domestic currency. However, fresh foreign fund inflows, easing crude prices supported the rupee and restricted the fall. The rupee opened weak at 70.18 at the interbank forex market, down 18 paise from its last close. The local currency, however, pared the initial loss and was trading at 70.11. On Thursday, the rupee had strengthened 28 paise to close at 70 against the US dollar. Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 1,137.85 crore Thursday, as per provisional data. Meanwhile, Brent crude futures, the global oil benchmark, fell 0.74 per cent to $65.81 per barrel. Indian bourses declined in early trade Friday with benchmark indices Sensex trading 62.24 points down at 36,663.18 and Nifty down 21.10 points at 11,031.65.

Rupee opens 18 paise lower at 70.18 against US dollar

In pictures: Apple CEO Tim Cook earns $15.7 million, salary rises 22%

The rupee appreciated 34 paise to 69.86 against the US dollar in opening trade Friday amid weakening American currency and a positive opening of the domestic equity market.

Forex traders said the American currency lost some ground against major currencies overseas, while on the domestic front, the equity market staged a recovery and propped up the rupee.

At the Interbank Foreign Exchange (forex) market, the rupee opened higher at 69.95 and rose further to touch a high of 69.86 a dollar, showing a rise of 34 paise over its previous close.

On Thursday, the rupee weakened for the second straight session and fell 2 paise to 70.20 against the dollar.

Traders, however, said that significant foreign fund outflows and rising crude oil prices weighed on the domestic currency and capped the upmove.

Foreign funds pulled out Rs 972.81 crore from the capital markets on a net basis, while domestic institutional investors purchased shares worth Rs 34.52 crore Thursday, provisional data showed.

The global benchmark Brent crude was trading higher by 0.13 per cent at 56.02 per barrel.

Meanwhile, the BSE benchmark Sensex Friday rebounded nearly 200 points and the NSE Nifty reclaimed the 10,700 marks, driven by a recovery in auto, metal and banking stocks amid buying by domestic institutional investors. 
&nbsp;

Forex traders said, the American currency lost some ground against major currencies overseas, while on the domestic front, the equity market staged a recovery and propped up the rupee.

The rupee appreciated 34 paise to 69.86 against the US dollar in opening trade Friday amid weakening American currency and a positive opening of the domestic equity market. Forex traders said the American currency lost some ground against major currencies overseas, while on the domestic front, the equity market staged a recovery and propped up the rupee. At the Interbank Foreign Exchange (forex) market, the rupee opened higher at 69.95 and rose further to touch a high of 69.86 a dollar, showing a rise of 34 paise over its previous close. On Thursday, the rupee weakened for the second straight session and fell 2 paise to 70.20 against the dollar. Traders, however, said that significant foreign fund outflows and rising crude oil prices weighed on the domestic currency and capped the upmove. Foreign funds pulled out Rs 972.81 crore from the capital markets on a net basis, while domestic institutional investors purchased shares worth Rs 34.52 crore Thursday, provisional data showed. The global benchmark Brent crude was trading higher by 0.13 per cent at 56.02 per barrel. Meanwhile, the BSE benchmark Sensex Friday rebounded nearly 200 points and the NSE Nifty reclaimed the 10,700 marks, driven by a recovery in auto, metal and banking stocks amid buying by domestic institutional investors.

Rupee recovers 34 paise to 69.86 against US dollar in morning trade

Crude oil futures lost more ground&nbsp;on Friday, with the US&nbsp;market set for a second week of decline on pressure from record US&nbsp;production and expectations of OPEC boosting output.

US&nbsp;West Texas Intermediate crude lost 16 cents, or 0.2 per cent, to $66.88 a barrel by 0423 GMT, after falling almost 2 per cent&nbsp;on Thursday.

Global benchmark Brent crude, which was little changed in the previous session, was down 9 cents, or 0.1 per cent, to $77.47 per barrel.

For the week, WTI is on track for a 1.5 per cent fall, adding to last week's near 5 per cent decline, while Brent is set to rise 1.3 per cent, widening the spread between the two benchmarks.

US&nbsp;crude production has been rising to record-high levels since late last year. In March it jumped 215,000 barrels per day (bpd) to 10.47 million bpd, a new monthly record, the Energy Information Administration (EIA) said&nbsp;on Thursday.

"US&nbsp;production is growing, the line is growing straight up when you look at US&nbsp;production," said Tony Nunan, oil risk manager at Mitsubishi Corp in Tokyo.

"The big thing is the increasing spread between Brent and WTI. Financially it makes sense for buyers to take WTI as it is so cheap."

On Thursday, the premium for Brent over WTI surpassed $11 a barrel, the largest since early 2015. It has doubled in less than a month, as a lack of pipeline capacity in the United States has trapped a lot of output inland.

"A drop in inventories in the US&nbsp;was overshadowed by US&nbsp;output which jumped to a record-high level," ANZ said in a note.

U.S. crude stockpiles fell 3.6 million barrels last week, the EIA said, exceeding expectations for a decline of 525,000 barrels.

Brent hit a three-week low below $75 a barrel&nbsp;on Monday&nbsp;after OPEC and its allies, including Russia, indicated they could adjust their deal to curb supplies and increase production, but recovered later in the week.

OPEC and non-OPEC producers have committed to cut output by 1.8 million bpd until the end of 2018, but are ready to make gradual supply adjustments to deal with shortages, a Gulf source familiar with Saudi thinking told Reuters late&nbsp;on Wednesday.

Sources told Reuters last week that Saudi Arabia, the effective leader of OPEC, and Russia were discussing boosting output by about 1 million bpd to compensate for losses in supply from Venezuela and to address concerns about the impact of U.S. sanctions on Iranian output.

Russia would be able to raise its oil output back to pre-cut levels within months if there is a decision to unwind the price-protection deal with OPEC and other producers, a Russian energy ministry official said.

Concerns about US&nbsp;bottlenecks are contributing to the decline in US&nbsp;futures as well. Prices for physical barrels of US&nbsp;light sweet crude delivered at Midland are at their largest discount to the benchmark US&nbsp;futures price in almost four years.

US West Texas Intermediate crude lost 16 cents, or 0.2 per cent, to $66.88 a barrel

Crude oil futures lost more ground on Friday, with the US market set for a second week of decline on pressure from record US production and expectations of OPEC boosting output. US West Texas Intermediate crude lost 16 cents, or 0.2 per cent, to $66.88 a barrel by 0423 GMT, after falling almost 2 per cent on Thursday. Global benchmark Brent crude, which was little changed in the previous session, was down 9 cents, or 0.1 per cent, to $77.47 per barrel. For the week, WTI is on track for a 1.5 per cent fall, adding to last week's near 5 per cent decline, while Brent is set to rise 1.3 per cent, widening the spread between the two benchmarks. US crude production has been rising to record-high levels since late last year. In March it jumped 215,000 barrels per day (bpd) to 10.47 million bpd, a new monthly record, the Energy Information Administration (EIA) said on Thursday. "US production is growing, the line is growing straight up when you look at US production," said Tony Nunan, oil risk manager at Mitsubishi Corp in Tokyo. "The big thing is the increasing spread between Brent and WTI. Financially it makes sense for buyers to take WTI as it is so cheap." On Thursday, the premium for Brent over WTI surpassed $11 a barrel, the largest since early 2015. It has doubled in less than a month, as a lack of pipeline capacity in the United States has trapped a lot of output inland. "A drop in inventories in the US was overshadowed by US output which jumped to a record-high level," ANZ said in a note. U.S. crude stockpiles fell 3.6 million barrels last week, the EIA said, exceeding expectations for a decline of 525,000 barrels. Brent hit a three-week low below $75 a barrel on Monday after OPEC and its allies, including Russia, indicated they could adjust their deal to curb supplies and increase production, but recovered later in the week. OPEC and non-OPEC producers have committed to cut output by 1.8 million bpd until the end of 2018, but are ready to make gradual supply adjustments to deal with shortages, a Gulf source familiar with Saudi thinking told Reuters late on Wednesday. Sources told Reuters last week that Saudi Arabia, the effective leader of OPEC, and Russia were discussing boosting output by about 1 million bpd to compensate for losses in supply from Venezuela and to address concerns about the impact of U.S. sanctions on Iranian output. Russia would be able to raise its oil output back to pre-cut levels within months if there is a decision to unwind the price-protection deal with OPEC and other producers, a Russian energy ministry official said. Concerns about US bottlenecks are contributing to the decline in US futures as well. Prices for physical barrels of US light sweet crude delivered at Midland are at their largest discount to the benchmark US futures price in almost four years.

Crude oil eases on record US production, OPEC supply hopes

The BSE Sensex rebounded over 83 points in opening trade today, breaking its five-session losing streak on value-buying in select blue-chips amid a strengthening rupee.

Overseas, most Asian shares were trading higher, tracking strong closing in the US market overnight as investors applauded easing of trade tensions between the US and China, traders said.

The 30-share BSE index jumped 83.74 points, or 0.24 per cent, to 34,699.87 in early trade.&nbsp;

The NSE Nifty too rose by 24.25 points, or 0.23 per cent, to 10,540.95.

Sectoral indices, including capital goods, consumer durables, infrastructure and oil and gas, advanced up to 0.46 per cent.

The Sensex had lost 940.58 points in the previous five sessions as investors rushed to unwind bets following post-poll instability in Karnataka amid discouraging global cues.

Domestic institutional investors (DIIs) made purchases worth Rs 1,190.56 crore while foreign portfolio investors (FPIs) sold shares worth a net Rs 496.03 crore yesterday, as per provisional data.

Major gainers were Dr Reddy's, Bajaj Auto, ONGC, Coal India, Tata Motors, HDFC Bank, NTPC, L&T and HDFC Ltd, rising up to 1.47 per cent.

Among the Asian bourses, Singapore was up by 0.04 per cent, Taiwan inched up 0.08 per cent, while Japan's Nikkei shed 0.01 per cent and Shanghai Composite Index fell 0.47 per cent in early trade.

The US Dow Jones Industrial Average ended 1.21 per cent higher yesterday.

Overseas, most Asian shares were trading higher, tracking strong closing in the US market overnight as investors applauded easing of trade tensions between the US and China

The BSE Sensex rebounded over 83 points in opening trade today, breaking its five-session losing streak on value-buying in select blue-chips amid a strengthening rupee. Overseas, most Asian shares were trading higher, tracking strong closing in the US market overnight as investors applauded easing of trade tensions between the US and China, traders said. The 30-share BSE index jumped 83.74 points, or 0.24 per cent, to 34,699.87 in early trade. The NSE Nifty too rose by 24.25 points, or 0.23 per cent, to 10,540.95. Sectoral indices, including capital goods, consumer durables, infrastructure and oil and gas, advanced up to 0.46 per cent. The Sensex had lost 940.58 points in the previous five sessions as investors rushed to unwind bets following post-poll instability in Karnataka amid discouraging global cues. Domestic institutional investors (DIIs) made purchases worth Rs 1,190.56 crore while foreign portfolio investors (FPIs) sold shares worth a net Rs 496.03 crore yesterday, as per provisional data. Major gainers were Dr Reddy's, Bajaj Auto, ONGC, Coal India, Tata Motors, HDFC Bank, NTPC, L&T and HDFC Ltd, rising up to 1.47 per cent. Among the Asian bourses, Singapore was up by 0.04 per cent, Taiwan inched up 0.08 per cent, while Japan's Nikkei shed 0.01 per cent and Shanghai Composite Index fell 0.47 per cent in early trade. The US Dow Jones Industrial Average ended 1.21 per cent higher yesterday.

Sensex breaks losing streak, opens in the green

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