Foreign institutional investors (FIIs) have recently halted a 38-day selling streak in Indian markets, driven by MSCI index rebalancing and political stability after the BJP-led NDA's victory in Maharashtra. However, skepticism remains as FIIs continue to express negative sentiment towards India, citing high valuations and a challenging earnings outlook. Analysts predict mid-teens growth for Nifty companies in FY25 and early FY26, suggesting potential for further earnings downgrades amidst steep valuations across sectors.
Australia's government is set to discuss concerns regarding the financial stability of Landbridge, the Chinese company that holds a 99-year lease on the Port of Darwin. Northern Territory Treasurer Bill Yan has reached out to Landbridge for more information and will meet with Infrastructure Minister Catherine King in Canberra.
The peso strengthened by 1% to 20.40 against the dollar after President-elect Donald Trump reported a productive conversation with Mexico’s president, Claudia Sheinbaum. This improvement came as Mexico agreed to curb migration and drug inflow into the U.S., reversing earlier losses for the currency.
The Bank of Korea unexpectedly cut its benchmark interest rate by a quarter-percentage point to 3%, responding to heightened trade and economic concerns following Donald Trump's presidential election victory. This move comes alongside a revision of growth forecasts, indicating a cautious outlook for the economy.
The Biden administration is advancing a $680 million arms sale to Israel, which includes thousands of joint direct attack munition kits and hundreds of small-diameter bombs. This move comes despite a newly brokered ceasefire in Lebanon between Israel and Hezbollah, as Israel continues its conflict with Hamas in Gaza. The arms package has been under consideration for several months, having been previewed to congressional committees in September and submitted for review in October.
Mexico's economic outlook for 2025 has worsened amid concerns over potential 25% tariffs from US president-elect Donald Trump. Economists are revising growth forecasts downward, anticipating a fourth consecutive year of reduced growth and diminished foreign investment. Such tariffs could jeopardize nearly 11% of Mexico's GDP, according to Bloomberg Economics.
President-elect Donald Trump's proposed tariffs on imports from China, Mexico, and Canada could disrupt inflation and investment, potentially reversing progress made by the Federal Reserve. Economists predict an 8% increase in import prices, pushing headline PCE above 3%, while also widening the trade deficit as companies may front-load imports in anticipation of the tariffs.
Mergers and acquisitions are increasingly focused on American companies, which remain highly attractive to buyers due to the country's robust economy and growth rates surpassing those in Europe. This year, significant local activity includes Siemens' bid for software provider Altair and Bosch's acquisition of Johnson Controls' heating and air conditioning technology business.
Moldova has appealed for financial assistance from Western nations due to concerns that Gazprom PJSC may halt natural gas supplies to the breakaway Transnistria region. This pro-Russian territory relies on gas from Gazprom, which is transported through Ukraine, making it vulnerable as the transit agreement between Moscow and Kyiv nears expiration. A disruption in gas supply would significantly impact Moldova, as Transnistria generates electricity for the entire country.
The Hungarian forint fell to a two-year low, trading 0.7% lower at around 413.2 per euro, as uncertainty looms over Prime Minister Viktor Orban's upcoming decision on the next central bank governor. In contrast, the Polish zloty and Czech koruna remained stable.
Seems like the connection with the server has been lost. It can be due to poor or broken network. Please hang on while we're trying to reconnect...
Oh snap! Failed to reconnect with the server. This is typically caused by a longer network outage, or if the server has been taken down. You can try to reconnect, but if that does not work, you need to reload the page.
Oh man! The server rejected the attempt to reconnect. The only option now is to reload the page, but be prepared that it won't work, since this is typically caused by a failure on the server.
