SOUTH ASIAN
Asia sees cautious open; US stocks buoyed by Trump: Markets wrap
Stocks in Asia show mixed reactions to Trump's increasing chances of winning a second term after surviving an assassination attempt. Market volatility expected due to tariff threats. Federal Reserve Chair hints at possible interest-rate cuts. Investors remain focused on economic and earnings results despite shocking events.
Asian stocks mixed as dollar up on Trump-win bets: Markets wrap
Asian stocks show mixed reactions to Trump's assassination attempt. US dollar rises, while S&P 500 contracts remain stable. Bitcoin reaches $60,000. Analysts discuss potential market implications and focus shifts to China's key rate decision.
Asian stocks fall after US tech slump; Yen swings: Markets wrap
Asian equities fell amid US inflation signs. Yen fluctuated due to Bank of Japan actions. Japanese shares, Kospi dropped, while Australian shares rose. Nasdaq 100 fell 2.2%. S&P 500 and small-caps gained. Rate cut optimism drove riskier investments. West Texas Intermediate rose; gold steady. July rate cut a longshot. AI boosts megacap tech. Treasury yields down.
Hedge funds turn to South Korea for next wave in AI
Hedge funds, including FengHe and CloudAlpha, invest in South Korea's chipmakers and firms like HD Hyundai Electric. These companies support Nvidia, aided by a 26 trillion won government package, boosting the KOSPI index. Despite the depreciating won and TSMC’s higher multiple, they attract investments amid the Sino-U.S. tech war and U.S. export bans.
Asian stocks echo US rally ahead of inflation data: Markets wrap
Tech rally lifted Asian stocks, S&P 500, and Nasdaq 100; Taiwan Semiconductor strong. Powell hinted at rate cuts; core CPI to rise. China tightened short selling. Inflation data awaited. Japan orders, Thai confidence, Malaysia, and South Korea policies in focus. Fed cuts in 2024 expected. Global equities hit record, yen stable, Apple improved from 2023.
A sneak peek into the 'Ghost Rider' of the US Air Force; What is it doing in South Korea?
The AC-130 J aircraft which is popularly known as the Ghost Rider has been deployed by the US Air Force recently in South Korea. This deployment as part of the joint exercises assumes importance due to the growing tensions between the two Koreas.
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Asian stocks edge higher before Powell’s testimony: Markets wrap
Asian markets rise ahead of Powell's testimony and US earnings season. Investors eye Fed's rate cut outlook and China's policy meetings. Bond markets react to PBOC actions. S&P 500 hits new high. Earnings season expectations increase. Oil stable amid Hurricane Beryl. Gold rebounds from previous losses.
Robot servant in South Korea found smashed in stairwell; becomes first to commit suicide in SE Asian country
A Bear Robotics civil servant robot in Gumi City Council, South Korea was found unresponsive after a fall between floors. Employed since August 2023, it handled tasks, called elevators, and had a civil service card. Called the first robot suicide, media discussions in robot-dense South Korea follow. No second robot officer will be appointed.
Asian stocks climb, Yen rallies off historic lows: Markets wrap
Investors await US jobs report and British election outcome. Unemployment rate expected to remain steady. Chicago Fed President comments on interest rates.
Asian stocks advance as S&P 500 closes above 5,500: Markets wrap
Market euphoria as S&P 500 hits records, Calvasina bullish. Job openings up, Fed's easing stance challenged. Eyes on US payrolls data for June update.
Asian stocks fluctuate as traders weigh Trump win
Asian stocks fluctuated amid US election uncertainty. Markets in Japan, Australia, and South Korea remained stable. Yields on 10-year Treasuries held steady. Wall Street edged higher with tech megacaps leading the rally. The Democratic National Committee considers early Biden nomination. Supreme Court ruling on Trump's immunity affects the election. Fiscal deficit policies are investors' focus.
High-speed traders, short sellers face growing Asia crackdown
The controversial nature of such restrictions is on full display in South Korea, where a short-selling ban hurt its attempts to win an upgrade from MSCI Inc. These developments show the difficulties policymakers have in keeping up with increasingly sophisticated trading strategies and their impact on financial markets, a challenge that’s only set to grow with the adoption of artificial intelligence.
N. Korea condemns drills by US, Japan, S. Korea as 'Asian NATO'
North Korea denounced on Sunday joint military drills by South Korea, Japan and the United States, calling them an "Asian version of NATO" and warning of "fatal consequences". "The US-Japan-ROK relations have taken on the full-fledged appearance of an Asian-version NATO," it said, warning of "fatal consequences".
N. Korea condemns drills by US, Japan, S. Korea as 'Asian NATO'
North Korea has condemned joint military exercises involving South Korea, Japan, and the United States, likening them to an "Asian version of NATO" and warning of severe consequences. The drills, named "Freedom Edge," focused on ballistic missile defense, anti-submarine warfare, and cyber defense. Pyongyang, through its foreign ministry, criticized these exercises as provocative and accused the US, Japan, and South Korea of forming a military bloc against North Korea. The North has historically viewed such drills as preparations for invasion, amid ongoing tensions and cross-border provocations with South Korea.
India in T20 World Cup final, Disney Star hikes ad rates
Star Sports is the official TV broadcast partner of the tournament. Prior to the tournament, the broadcaster had quoted spot buy rates of ₹13-26 lakh per 10-second slots for India and knockout games. The average ad rate for all 55 matches of the tournament works out at ₹6.5-7 lakh due to lower than expected demand from advertisers.
Indian eateries now New York's gastronomic toast
They are among the notable, far-ranging Indian dining spots around town, many at the higher tiers of the price spectrum. Collectively, Indian restaurants are becoming something of a power dining scene, drawing customers from the upwardly mobile population of New Yorkers with roots in the subcontinent. To this already impressive list, you can now add Kanyakumari, which dishes out delicacies from India's 4,700-mile coastline at the more easily accessible Union Square.
Does the future of South Asian cuisine lie in the Middle East?
Food in other South Asian countries has changed since 1947. One of the biggest influences is the Gulf states, where millions from across this region have flocked to work. This has become the place where South Asian cultures and cuisines really connect, meeting Middle Eastern food and coming back here in shawarmas and other foods
Pitch the right line and length in US
The 2024 ICC Men's T20 World Cup aims to make cricket more than an immigrant-expatriate's game in the US. Despite lack of public interest and substandard pitches, the event has served a limited purpose of raising awareness. India, which claims the game as its own, contributes financial heft and cricketing prowess for global expansion.
India-Pakistan clash could fetch $4,800 a second as cricket makes US push
India vs Pakistan: Global firms are splurging on advertising for the India-Pakistan cricket match in the US. The big encounter is set to take place in New York's Nassau County International Cricket Stadium on June 9, part of the ICC Men’s T20 World Cup, targeting the South Asian diaspora.
President Xi & Pak PM Sharif discuss deepening strategic cooperation
Chinese President Xi Jinping and Pakistan Prime Minister Shehbaz Sharif discussed deepening strategic cooperation as Pakistan opts out of attending Narendra Modi's swearing-in ceremony with other SAARC leaders.
From Sheikh Hasina to Wickremesingh: Check full list of global leaders that will attend Modi's oath ceremony
Narendra Modi Oath Ceremony: The people cited above said top leaders of Bangladesh, Sri Lanka, Bhutan, Nepal and Mauritius are likely to be among the foreign leaders to be invited for Modi's oath-taking ceremony. The media division of Sri Lankan President Ranil Wickremesinghe's office said Modi invited him to the swearing-in ceremony. It said Wickremesinghe accepted the invite.
Asian factory activity expands in May on robust global demand
Manufacturing activity in Asia showed growth in May according to private surveys released on Monday, fueled by increasing global demand. This development adds to optimism for a continued economic recovery in the region, particularly with China displaying initial signs of resurgence.
"If they are considering FTA with India, we will surely look into it": MEA denies any FTA proposal with Maldives
India on Thursday said it has not made any proposal to the Maldives for a bilateral free trade agreement (DTA) and that it was ready to consider if the island nation expresses interest for such a pact. "No specific proposal for a bilateral FTA with the Maldives has been made by the Government of India," External Affairs Ministry spokesperson Randhir Jaiswal said.
India's natural gas demand to rise 7% in 2024, says IEA
Natural gas demand in India is projected to increase by 7% in 2024, primarily due to heightened usage in the industrial and fertilizer sectors. Additionally, the occurrence of heatwaves across the country will lead to higher usage in the power sector. However, despite this, the overall growth in natural gas consumption is expected to be slightly lower compared to 2023, when it saw a growth of nearly 10%.
Meet Shruthi Kumar? The Indian-American whose speech at Harvard on Palestine went viral
Indian-American Shruthi Kumar's viral speech at Harvard criticized the university over the Gaza issue, highlighting intolerance for freedom of speech and civil disobedience on campus.
Indian football’s ‘Captain Fantastic’ Sunil Chhetri will retire after the Kuwait tie on June 6
It was just moments after Sunil Chhetri, India’s greatest ever player, had made public his retirement plans -- the FIFA football World Cup qualification game against Kuwait on June 6 in Kolkata. That’s when we got head coach Igor Stimac on the call. “Sunil had mentioned this to me two months earlier.
Axis Bank brings expats to India in push to woo global firms
Axis Bank Ltd. aims to boost its global business by hiring Asian expatriates, targeting mid-sized companies from countries like South Korea, Japan, US, Germany, Italy, and France. Facing challenges with South Korean and Japanese firms due to language barriers, the bank has recruited expatriates to facilitate connections and expand its corporate banking division.
India attempts to influence Canadian politics due to concerns over Khalistani separatists: Official probe
The findings in the interim report by Commissioner Marie-Josee Hogue, who is leading the independent public inquiry, found evidence of foreign interference in Canada's last two federal elections in 2019 and 2021 but the results of the votes were not affected and the electoral system was robust.
Above-normal monsoon rainfall predicted in south Asia
The South Asian Climate Outlook Forum predicts above-normal rainfall in most parts of south Asia during the 2024 southwest monsoon season, with India expected to experience below-normal rainfall. The forecast is based on favorable La Nina conditions, which are expected to set in by August-September. Moderate El Nino conditions are currently prevailing, with neutral conditions expected in the first half of the season. La Nina conditions, the antithesis of El Nino, are the dominant factor in the likelihood of above-normal rainfall.
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