Vikas Gupta, CEO and Chief Investment Strategist at OmniScience Capital, does not anticipate a significant correction in midcap and smallcap stocks, citing a lack of fundamental economic triggers. He remains fully invested and optimistic about the long-term prospects of the Indian economy. Gupta also predicts 3-4 Fed rate cuts in 2025, with inflation resurgence as the main risk to this outlook.
A dozen US Bitcoin exchange-traded funds are nearing a record monthly net inflow, driven by optimism surrounding President-elect Donald Trump's support for cryptocurrency. In November, these ETFs, including those from BlackRock Inc. and Fidelity Investments, have attracted $6.2 billion, surpassing the previous peak of $6 billion in February.
Inflation expectations are likely to decline, potentially impacting gold prices, while US equities face a challenging year ahead, particularly in 2025. The Russell 2000 small-cap index shows promise, and falling interest rates in Europe may strengthen the dollar, benefiting European stocks. However, Trump's tariffs pose significant risks for non-US markets, and the new Treasury Secretary's focus on reducing the deficit and increasing oil production could further dampen inflation expectations.
Qantas is navigating increased competition as Virgin Australia plans its ASX return and a potential partnership with Qatar Airways, which could enhance international rivalry. The airline's share buyback is nearing completion, and it anticipates lower fuel costs, while management changes aim to restore its reputation. Despite a strong share price rise, the recommendation remains a 'Hold' as the company prepares for future growth amid evolving market dynamics.
IG
01:31 29.11.2024
India's urban middle class faces economic strain as wages fell for the first time since the pandemic, leading to reduced consumer spending and declining corporate profits. Inflation-adjusted employment costs for listed non-financial companies dropped by 0.5% from the previous year, signaling a slowdown in economic momentum.
Ionic Digital has appointed Schnaidt as its legal chief. She previously served as counsel at Paul, Weiss, where she advised asset management and financial services firms through various business transformations. Schnaidt also has extensive experience as general counsel for multi-billion-dollar private fund managers.
At COP29 in Baku, an agreement was reached on carbon market regulation under Article 6 of the Paris Agreement, but the New Collective Quantified Goal (NCQG) faced criticism for insufficient funding for developing nations, setting a target of at least $300 billion annually by 2035. While some progress was made, key negotiations on fossil fuel phase-out and just transition initiatives stalled, leaving many questions unanswered as the focus shifts to COP30 in Brazil, where biodiversity and climate loss will be central themes.
Asia-Pacific markets are poised to open mostly lower as investors digest Tokyo's November inflation rate of 2.6%, up from 1.8% in October, and South Korea's industrial production increase of 2.3% year-on-year in October. Japan's Nikkei 225 is expected to decline, while Australia's S&P/ASX 200 has started marginally lower. In contrast, futures for Hong Kong's Hang Seng index indicate a stronger opening.
Mitsubishi UFJ Financial Group Inc. is exploring a bid for Japanese robo-advisory firm WealthNavi Inc. to enhance its financial-technology capabilities. The bank plans to discuss the potential acquisition at an upcoming management meeting, although no decision has been finalized. Reports suggest MUFG may initiate a tender offer.
Australia has expanded its anti-money laundering regulations to include real estate agents and precious stone dealers, addressing concerns over illicit cash in these sectors. The new rules, part of the Anti-Money Laundering and Counter-Terrorism Financing Amendment Bill 2024, also encompass lawyers, accountants, and company service providers.
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