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Sensex, Nifty Tad Higher In Early Trade Despite Weak Global Cues
Indian shares opened a tad higher on Monday after U.S. finance authorities announced plans to limit the fallout from the collapse of Silicon Valley Bank.
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U.S. Dollar Falls Against Majors
The U.S. dollar weakened against other major currencies in the Asian session on Monday.
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Asian Markets Mixed In Cautious Trades
Asian stock markets are trading mixed on Monday, following the negative cues from global markets on Friday, as traders remain cautious and assess the fallout of the biggest US bank failure since the 2008 financial crisis. Data showing an increase in U.S. unemployment rate, and a drop in wage growth also raised concerns the US Fed will remain aggressive with regard to interest rate hikes.
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Sensex, Nifty Seen Slightly Lower At Open; Adani Group Stocks May Rally
Indian shares may open lower on Monday after a sharp selloff in global bank stocks.
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Japanese Market Sharply Lower
The Japanese stock market is sharply lower on Monday, extending the losses in the previous session, with the Nikkei 225 falling below the 27,700 level, following the broadly negative cues from global markets on Friday, with losses across most sectors, led by financial and technology stocks. Traders are cautious amid the biggest US bank failure since the 2008 financial crisis.
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Losses May Accelerate For Thai Stock Market
The Thai stock market has alternated between positive and negative finishes through the last four trading days since the end of the eight-day losing streak in which it had plummeted almost 65 points or 4 percent. The Stock Exchange of Thailand now rests just beneath the 1,600-point plateau and it's tipped to open under pressure again on Monday.
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Indonesia Stock Market Predicted To Open Under Pressure On Monday
The Indonesia stock market on Friday wrote a finish to the modest two-day winning streak in which it had collected more than 30 points or 0.4 percent. The Jakarta Composite Index now sits just above the 6,765-point plateau and it may extend its losses on Monday.
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Australian Market Notably Lower
The Australian stock market is notably lower on Monday, extending the losses in the previous two sessions, with the benchmark S&P/ASX 200 staying a tad above the 7,100 level, following the broadly negative cues from global markets on Friday, with weakness in technology and energy stocks partially offset by gains in gold miners.
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No Help Yet For Hong Kong Stock Market
The Hong Kong stock market has finished lower in four straight sessions, tumbling almost 1,300 points or 6.4 percent along the way. The Hang Seng Index now sits just beneath the 19,320-point plateau and it's looking at another soft lead for Monday's trade.
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Oversold China Bourse Nonetheless Called Lower On Monday
The China stock market has finished lower in five straight sessions, sinking almost 100 points or 2.8 percent along the way. The Shanghai Composite Index now sits just above the 3,230-point plateau and it's expected to open in the red again on Monday.
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Lower Open Expected For Taiwan Stock Market
The Taiwan stock market has moved lower in three straight sessions, slumping almost 350 points or 2.2 percent along the way. The Taiwan Stock Exchange now rests just above the 15,525-point plateau and it's looking at a soft start again on Monday.
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More Pain Predicted For Singapore Stock Market
The Singapore stock market has tracked lower in three consecutive trading days, slumping almost 70 points or 2.1 percent along the way. The Straits Times Index now rests just above the 3,175-point plateau and it's likely to see continued consolidation on Monday.
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Soft Start Anticipated For Malaysia Stock Market
The Malaysia stock market has moved lower in three straight sessions, sinking more than 25 points or 1.8 percent along the way. The Kuala Lumpur Composite Index now rests just beneath the 1,435-point plateau and the losses may accelerate on Monday.
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