20
Monday
September 2021
10:38 PM IST
News Headlines
Former TT champ Martin to retire after world championships        Gill, Rana are about to shock the world: KKR chief mentor Hussey        Electrical equipment mkt may grow at 12 pc annually to reach USD 72 bn by 2025        Small cars too need adequate number of airbags to ensure safety, says Gadkari        Taliban-run Kabul municipality to female workers: Stay home        Nepal observes Constitution Day; PM Deuba vows to protect, implement statute        Adityanath releases report card; says UP has seen complete transformation under BJP rule        BJP uses Taliban, Afghanistan, Pakistan to garner votes: Mehbooba        Charanjit Singh Channi to be next CM of Punjab        Boxing: Mohammad Hussamuddin sails into QF        Leading garment exporter Kitex Group to invest Rs 2,400 cr in Telangana        Taliban continue restrictive policies on women's education, resume secondary school lessons only for male students        Sidhu is a 'friend of Pakistan', will oppose if he is appointed CM: Amarinder Singh        Schools in Kerala to reopen from Nov 1        Amarinder Singh resigns as Punjab CM, says will not accept Sidhu for top post        Sachin stuns World Championships medallist Gaurav Bidhuri        Sensex, Nifty snap winning streak, end in red        Rahul attacks BJP govt over unemployment issue        International community must think carefully, consult before giving acceptance to new Kabul regime: PM Modi        Kerala to allot 36.84 acres land to TCS, aims to create 10,000 jobs        
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Business News
Asian stocks mixed, Tokyo gains after Wall Street highs
 
Bangkok: Asian shares were mixed on Monday after stocks rallied to records on Wall Street, with the Dow Jones Industrial Average closing above the 35,000 level for the first time.

Tokyo advanced after a 4-day weekend as the Olympic Games began, a year late. Benchmarks fell in Hong Kong and Shanghai but rose in Sydney.

Preliminary factory and service activity surveys in Japan showed a slowdown linked to recent tightening of pandemic precautions due to surging coronavirus cases.

The flash purchasing managers index for the services sector fell to 46.5 in July from 48 in June, on a scale of 1-100 where 50 marks the break between expansion and contraction.

Manufacturing remained in expansion, but fell to 50.5 from 50.7 in June, said the au Jibun Bank survey. It said new export orders declined, possibly reflecting supply bottlenecks. Output fell at the fastest pace in six months.

Short-term disruption to activity is likely to continue until the latest wave of COVID-19 infections passes and restrictions enacted under the state of emergency laws are lifted," Usamah Bhatti, economist at IHS Markit, said in a report.

Nonetheless, Tokyo's Nikkei 225, tracking Wall Street's strong finish on Friday, gained 1.2% to 27,864.79. In Australia, the S&P/ASX 200 edged less than 0.1% higher, to 7,397.60, while the Kospi in Seoul declined 0.4% to 3,240.46.

Hong Kong's Hang Seng sank 2.9% to 26,527.06 after Chinese regulators said they were further tightening restrictions on tech companies. The Shanghai Composite index dropped 2.2% to 3,473.13.

On Friday, the Dow, S&P 500 and Nasdaq all finished with gains of better than 1% for the week.

They each returned to records after brushing aside the sharp downturn that trimmed 1.6% off the S&P 500 on July 19. But the market rebounded as big companies reported better profits than expected and as investors once again saw any dip in stocks as merely a chance to buy low.

The S&P 500 index climbed 1% to 4,411.79. The Dow rose 0.7% to 35,061.55 and the Nasdaq composite gained 1% to 14,836.99.

Despite a rebound in new coronavirus cases, the U.S. economy continues to recover at a torrid pace, with the question being how much growth will slow in upcoming months and years.

A preliminary report from IHS Markit on Friday indicated U.S. manufacturing growth may have unexpectedly accelerated this month, though growth in services industries looks to be slowing more than economists expected.

The yield on the 10-year Treasury was steady at 1.26% on Monday. It has dropped from a perch of roughly 1.75% in late March, reflecting alarm over rising inflation.

With roughly a quarter of all the profit reports in from S&P 500 companies, nearly 90% have topped Wall Street's already high expectations for the spring.

Companies in the index are on pace to report roughly 74% growth for earnings in the second quarter from a year earlier, according to FactSet. That would be the strongest growth since the economy was exploding out of the Great Recession at the end of 2009.

S&P 500 businesses appear on track to say they made 124 in profit for every 1,000 in sales, according to FactSet. That would be a slight dip from 128 during the first three months of the year, but it would remain comfortably above the average of 108 over the last five years.

In other trading, U.S. benchmark crude oil lost 47 cents to 71`.60 per barrel in electronic trading on the New York Mercantile Exchange. It picked up 16 cents to 72.07 on Friday.

Brent crude, the international pricing benchmark, declined 38 cents to 73.72 per barrel.

The U.S. dollar fell to 110.35 Japanese yen from 110.51 yen. The euro rose to 1.1780 from 1.1776.


Electrical equipment mkt may grow at 12 pc annually to reach USD 72 bn by 2025
Small cars too need adequate number of airbags to ensure safety, says Gadkari
Leading garment exporter Kitex Group to invest Rs 2,400 cr in Telangana
Sensex, Nifty snap winning streak, end in red
Bringing diesel, petrol in GST may be discussed in Council meeting, also on agenda is taxing Swiggy, Zomato
PepsiCo set up food plant in Mathura
Without GST documents Arecanut transporting vehicles seized
Wipro and First Horizon Bank forge a cloud-based fintech future for virtualBank
Mahindra XUV700 makes a pitstop in Bengaluru
India's industrial production grew 11.5 per cent in July on low base, recovery
FADA expresses shock over Ford India's announcement to stop manufacturing vehicles in India
FICCI, PHDCCI welcome PLI for textile sector
Domestic air passenger traffic up 31% at 66 lakh in Aug on higher capacity deployment: ICRA
Jio completes 5 yrs of operations; tech world congratulates
Hero MotoCorp and Harley-Davidson expand customer touch points, open bookings for next lot of ‘Pan America 1250’ adventure bike
Rupee inches 3 paise higher to 73.03 against US dollar in early trade
HDFC Life to acquire Exide Life Insurance for Rs 6,687 crore
M Suresh takes over as Member (Air Navigation Services) at AAI
Tata Motors launches Tigor EV with price starting at Rs 11.99 lakh
Google removes 95,680 content pieces in July in India: Compliance report
KERALA NEWS
Schools in Kerala to reopen from Nov 1
 Thiruvananthapuram, Schools in Kerala will be reopened from November 1, Chief Minister Pinarayi Vija  
Kerala to allot 36.84 acres land to TCS, aims to create 10,000 jobs
PDP leader Poonthura Siraj passes away
Rajya Sabha MP Suresh Gopi courts controversy
INTERNATIONAL NEWS
Taliban-run Kabul municipality to female workers: Stay home
 Kabul, Sep 19 (AP) Female employees in the Kabul city government have been told to stay home, with w
Nepal observes Constitution Day; PM Deuba vows to protect, implement statute
Taliban continue restrictive policies on women's education, resume secondary school lessons only for male students
International community must think carefully, consult before giving acceptance to new Kabul regime: PM Modi
NATIONAL NEWS
Adityanath releases report card; says UP has seen complete transformation under BJP rule
 Lucknow, Sep 19 (PTI) Asserting that Uttar Pradesh has undergone a complete transformation under his
BJP uses Taliban, Afghanistan, Pakistan to garner votes: Mehbooba
Sidhu is a 'friend of Pakistan', will oppose if he is appointed CM: Amarinder Singh
Rahul attacks BJP govt over unemployment issue
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