Share Market Today: Live Updates

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three hours ago

European shares opened mixed

European markets had a cautious start to the week, with the benchmark Stoxx 600 index 0.06% lower at 8:05 a.m. in London.

France’s CAC 40 and the UK’s FTSE 100 were both near flatline, while Germany’s DAX was 0.2% higher.

See the list…

Stoxx 600 Index.

6 hours ago

Indian markets reach new all-time high as metal stocks surge

India’s Sensex and Nifty 50 indices hit new all-time highs on Monday, led by metal stocks like Tata Steel and JSW Steel.

The Sensex gained 0.5% to 74,614.71, extending its record since last Friday.

Nifty rose 0.45% to 22,612.5, also surpassing its previous high hit on April 4.

Tata Steel – the biggest Sensex component – rose 1.47% and was the second-biggest gainer on the index, while JSW Steel rose 1.28%.

– Lim Hui Ji

9 hours ago

China’s central bank announces $70 billion ‘re-lending’ program to support tech SMEs

The People’s Bank of China has announced a 500 billion yuan ($70 billion) “re-lending” program for technological innovation and transformation to support small and medium-sized tech enterprises.

A re-lending program uses funds lent by the PBOC to commercial banks, which then lend them to customers.

In a statement on Sunday, the PBOC said the program will offer loans through 21 banks at a rate of 1.75%, and the loans can be extended twice for up to a year each time.

– Lim Hui Ji

10 hours ago

China’s Shimao becomes the latest real estate firm to face liquidation lawsuit

Chinese real estate development firm Shimao has become the latest property company to face liquidation suits after receiving a winding up petition from China Construction Bank (Asia).

It follows lawsuits faced by peers Evergrande, which was ordered to wind up, and Country Garden Holdings, which is also facing a liquidation petition.

In the information given to the Hong Kong Stock Exchange, the company said that the petition is in relation to a loan of about 1.58 billion Hong Kong dollars.

Shimao said the petition does not represent the collective interests of its offshore lenders and other stakeholders, adding that he would “vigorously oppose the petition.”

Last month, Shimao released a restructuring plan for its offshore debt, saying the plan represented a “fair and realistic solution” for its credit holders.

– Lim Hui Ji

12 hours ago

Bank of America says this week’s CPI should be ‘a confidence-building report’

Bank of America economists believe Wednesday’s inflation report should show an easing of price pressures, which would give the Fed confidence in a rate cut in June.

The Wall Street firm expects the core consumer price index to decline 0.2% in March after rising 0.4% in February and January. This has seen a decline in car prices which should lead to a decline in key commodities. However, the bank expects energy prices to rise more than usual.

“The softening in core CPI should reflect declines in core goods prices and more modest price increases in core services,” the bank’s economists said in a note. “A report in line with our expectations will provide confidence to the Fed and keep the rate cut firmly in place in June.”

– Yun Lee

12 hours ago

Elon Musk announces the unveiling date of Tesla Robotaxi

Tesla shares rose 3.8% in afternoon trading Friday after CEO Elon Musk said his electric vehicle company is set to unveil robotaxi later this year.

Musk said in a post on social media platform X on Friday night that the unveiling would take place on August 8.

Musk has talked about the robotaxi project for years. Tesla has yet to deliver a robotaxi, autonomous vehicle or technology that could turn its cars into “Level 3” autonomous vehicles.

– Yun Lee

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