1 / 101. Asia: Stocks in Asia were little changed in Wednesday morning trade as the International Monetary Fund said the global economy is set to see a more significant contraction than it previously forecast. In Japan, the Nikkei 225 shed 0.77 percent in early trade while the Topix index declined 0.4 percent. Over in South Korea, the Kospi hovered around the flatline. Meanwhile, the S&P/ASX 200 in Australia added 0.3 percent. Overall, the MSCI Asia ex-Japan index traded 0.07 percent higher. (Image: Reuters)
2 / 102. US: U.S. stock futures were flat in overnight trading, following a big rally in the previous session fueled by growing belief that the worst may be over for the world’s largest economy. Dow futures fell 30 points, indicating a gain of 0.1 percent at the open on Wednesday. The S&P 500 and Nasdaq-100 were set to open 0.2 percent and 0.26 percent lower respectively. U.S. equities rallied on Tuesday, helped by a bevy of bullish news, including a historic jump in retail sales. (image: AP)
3 / 103. Market At Close On Tuesday: Indian indices ended higher on Tuesday led by gains in financials and metal stocks. The sentiment was positive, tracking gains in Asian shares, amid hopes of a liquidity boost from the US corporate bond-buying program. The Sensex ended 376 points higher at 33,605 while the Nifty rose 100 points to settle at 9,914. Market breadth in favour of declines with the advance-decline ratio at 1:1. (Image: Reuters)
4 / 104. Crude Oil: Oil prices rose on Tuesday, with Brent crude rising above $40 a barrel, as the IEA increased its oil demand forecast for 2020 and as record supply cuts supported. Brent crude rose $1.20, or 3 percent, to trade at $40.92 per barrel. West Texas Intermediate crude settled $1.26, or 3.39 percent, higher at $38.38 per barrel. In its monthly report on Tuesday, the International Energy Agency (IEA) forecast oil demand at 91.7 million barrels per day in 2020, 500,000 bpd higher than its estimate in May’s report, citing higher than expected consumption during the lockdowns. (Image: Reuters)
5 / 105. Rupee Close: The Indian rupee closed at 76.21 a dollar, down 0.24 percent from its previous close. The rupee had opened at 75.89 and touched a high of 75.78 and a low of 76.30. (Image: Reuters)
6 / 106. US Wants Peaceful Resolution Of India-China Border Tensions: Hours after the Indian Army declared that it had lost 20 lives in clashes with Chinese forces, the United States has said it is closely following the situation at the Line of Actual Control. "Both India and China have expressed a desire to de-escalate, and we support a peaceful resolution of the current situation," a State Department spokesperson told CNBC-TV18. A senior administration official told CNBC-TV18, "We have seen the Indian Army statement that 20 Indian soldiers died as a result of today’s confrontation. We would like to extend our deepest condolences to the families of those soldiers who perished". (Image: Reuters)
7 / 107. Gross Advance Tax Collection Falls Over 30%: The first-quarter advance tax collections received by the Central Board of Direct Taxes (CBDT) have seen over 30 percent decline, government sources told CNBC-TV18. Hit by lockdown, the collections were expected to show a declining trend as both large and small taxpayers are estimating limited profits. However, these are just initial estimates, and there could be some corrections in a day or two, as the last date to file first-quarter advance tax was June 15. Banks are still updating the final figures, given that a lot of advance tax filing also happens through physical challans. (Representational Image)
8 / 108. JP Morgan's James Sullivan On India's Economic Growth: James Sullivan, Managing Director of Asia Equity Research at JP Morgan says India needs big reform to support sustainable economic growth. On equity markets, Sullivan said that the market will remain highly volatile. In an interview to CNBC-TV18, Sullivan said that he is cautious on buying equities. “We would be very cautious with that view. If I look at what is going on in the market right now, it is an interesting situation. The only guarantee is that you will continue to see a very high level of volatility. So, we work our way through both summer as well as fall,” he said. (Image: Reuters)
9 / 109. India Slips Out Of Kerney's 25-Country 2020 FDI Confidence Index: India has slipped out of the Kearney’s FDI Confidence Index 25-country list for 2020. The United States retained its top spot for an eighth year running, having dislodged China from the top ranking in 2013. India was ranked 16th in the 2019 list, while it occupied 11th spot the year prior. In 2017, India made the top ten and was ranked eighth. China, Brazil and the United Arab Emirates were the only emerging markets to make the 2020 list, while the top ten positions remain unchanged barring Switzerland's entry and Singapore's exit. Singapore now occupies 12th spot. (Representational Image)
10 / 1010. IMF Warns Of A Crisis: The global economy is on track for a more significant contraction than the International Monetary Fund estimated back in April, the institution’s chief economist said on Tuesday. When European countries were in their first weeks of lockdown, the IMF said the global economy would suffer the worst financial crisis since the Great Depression of the 1930s. At the time, it forecast a contraction by 3 percent in 2020. Now, despite some economies beginning to reopen, the Fund has warned that the decline could be even worse. The Fund also said the current crisis, which it dubbed the Great Lockdown, is “unlike anything the world has seen before.” (Image: Reuters)
