Asian markets slipped in Friday trading, tracking the sharp falls in Wall Street and European markets, which took a hit on fears of a potential trade war.
9:59 am FII View: Paul Kitney, Daiwa Capital Markets told CNBC-TV18 that, “What we have seen so far is a series of selected targeted tariffs rather than a full scale trade war that would benefit neither US or China. A trade war would benefit no one, but it would be particularly bad for China than US. It is not in its interest to respond aggressively, but for political reasons, they have to do this.”
“Right now top of the list of investments is is China. We are overweight China and India and Korea and Hong Kong.”
9:55 am CLSA’s take on Trade War: Chris Wood of CLSA feels the stance on trade, if pursued by the Trump administration, can make more waves in financial markets.
Most likely outcome is that China will agree to some form of compromise, he said.
9:50 am IPO pre-Opening rate: Bharat Dynamics share price settled at Rs 370 on the National Stock Exchange in pre-opening trade against issue price of Rs 428.
9:45 am FII View: “The US move seems to be more of a negotiating tactic with China and the global markets seem to have overreacted a little bit w.r.t recent developments,” Shane Oliver of AMP Capital Investors said in an interview to CNBC-TV18.
9:38 am Bhushal Steel in focus: Tata Steel is identified as the successful resolution applicant for acquisition of Bhushan Steel.
The steel maker accepts letter of intent for Bhushan Steel under Corporate Insolvency Resolution Process and Insolvency & Bankruptcy Code.
Committee of creditors has finalised Tata Steel as resolution applicant for Bhushan Steel subject to regulator nod.
9:31 am Morgan Stanley’s take on Trade War: The US has rolled back some tariffs on other countries which is a positive and measures announced By Donald Trump are less aggressive than what we feared, said Chetan Ahya, Co-Head of Global Economics & Chief Asia Economist at Morgan Stanley in an interview to CNBC-TV18.
9:25 am FII View: “We expect the Chinese to compromise w.r.t tariff imposition by US. For now, we expecting tariff move against China to have only a modest impact,” Shaun Rein, Founder – CMR and Author of the War For China’s Wallet said in an interview to CNBC-TV18.
He feels, the fear of full blown trade war is exaggerated and he expects both US & China to be pragmatic.
9:19 am Gainers & Losers: ICICI Bank, HDFC Bank, Reliance Industries, Vedanta, HDFC, Axis Bank, L&T, SBI, Tata Motors and Yes Bank slipped up to 3 percent while GAIL was the only gainer among Nifty50 stocks.
The market has recovered a bit from day’s low and bulls are trying hard to defend 10,000 level.
The 30-share BSE Sensex was down 365.35 points or 1.11 percent at 32,640.92 and the 50-share NSE Nifty fell 115.65 points or 1.14 percent to 9,999.15.
source: moneycontrol.com
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Market Live: Nifty below 10,000, Sensex slips 400 pts on US-China trade war fears
Asian markets slipped in Friday trading, tracking the sharp falls in Wall Street and European markets, which took a hit on fears of a potential trade war.
9:59 am FII View: Paul Kitney, Daiwa Capital Markets told CNBC-TV18 that, “What we have seen so far is a series of selected targeted tariffs rather than a full scale trade war that would benefit neither US or China. A trade war would benefit no one, but it would be particularly bad for China than US. It is not in its interest to respond aggressively, but for political reasons, they have to do this.”
“Right now top of the list of investments is is China. We are overweight China and India and Korea and Hong Kong.”
9:55 am CLSA’s take on Trade War: Chris Wood of CLSA feels the stance on trade, if pursued by the Trump administration, can make more waves in financial markets.
Most likely outcome is that China will agree to some form of compromise, he said.
9:50 am IPO pre-Opening rate: Bharat Dynamics share price settled at Rs 370 on the National Stock Exchange in pre-opening trade against issue price of Rs 428.
9:45 am FII View: “The US move seems to be more of a negotiating tactic with China and the global markets seem to have overreacted a little bit w.r.t recent developments,” Shane Oliver of AMP Capital Investors said in an interview to CNBC-TV18.
9:38 am Bhushal Steel in focus: Tata Steel is identified as the successful resolution applicant for acquisition of Bhushan Steel.
The steel maker accepts letter of intent for Bhushan Steel under Corporate Insolvency Resolution Process and Insolvency & Bankruptcy Code.
Committee of creditors has finalised Tata Steel as resolution applicant for Bhushan Steel subject to regulator nod.
9:31 am Morgan Stanley’s take on Trade War: The US has rolled back some tariffs on other countries which is a positive and measures announced By Donald Trump are less aggressive than what we feared, said Chetan Ahya, Co-Head of Global Economics & Chief Asia Economist at Morgan Stanley in an interview to CNBC-TV18.
9:25 am FII View: “We expect the Chinese to compromise w.r.t tariff imposition by US. For now, we expecting tariff move against China to have only a modest impact,” Shaun Rein, Founder – CMR and Author of the War For China’s Wallet said in an interview to CNBC-TV18.
He feels, the fear of full blown trade war is exaggerated and he expects both US & China to be pragmatic.
9:19 am Gainers & Losers: ICICI Bank, HDFC Bank, Reliance Industries, Vedanta, HDFC, Axis Bank, L&T, SBI, Tata Motors and Yes Bank slipped up to 3 percent while GAIL was the only gainer among Nifty50 stocks.
The market has recovered a bit from day’s low and bulls are trying hard to defend 10,000 level.
The 30-share BSE Sensex was down 365.35 points or 1.11 percent at 32,640.92 and the 50-share NSE Nifty fell 115.65 points or 1.14 percent to 9,999.15.
source: moneycontrol.com
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