1 / 101. Asia: Stocks in Asia Pacific were mixed in Wednesday morning trade as investors weighed the potential impact of rising tensions between Washington and Beijing against economies reopening, as coronavirus containment measures are eased. Mainland Chinese stocks dipped in early trade, with the Shanghai composite down about 0.1 percent while the Shenzhen composite was fractionally lower. Hong Kong’s Hang Seng index, on the other hand, slipped 0.25 percent. In Japan, the Nikkei 225 rose 0.36 percent in morning trade. The Topix index added 0.5 percent. Over in South Korea, the Kospi edged 0.38 percent higher. Australia’s S&P/ASX 200 hovered around the flatline. Overall, the MSCI Asia-ex Japan index traded 0.11 percent higher. (Image: Reuters)
2 / 102. US: U.S. stock futures fell slightly in overnight trading and pointed to modest losses at the open on Wednesday, as investors juggled optimism about the reopening of the economy and a possible coronavirus vaccine as well as concerns about U.S.-China tensions. Recent hopes for a return to normal consumer habits has pushed the Dow Jones Industrial Average and S&P 500 to briefly touch key market levels for the first time since early March; however, a escalation of U.S.-Chinese tensions has capped gains. Dow futures fell about 50 points. The S&P 500 and Nasdaq were also lower, with losses of 7 points and 22 points, respectively. (Image: AP)
3 / 103. Market At Close On Tuesday: Indian benchmark indices erased all intraday gains to end marginally lower on Tuesday dragged by selling in IT and pharma stocks. The Sensex ended 63.29 points or 0.21 percent lower at 30,609.30 while the Nifty50 ended at 9,029.05, down 10.20 points or 0.11 percent. Sentiment dampened after Reuters poll said that India’s economy is likely to have expanded at its slowest pace in at least eight years in the January-March quarter, partly as a result of the coronavirus clampdown. (Image: Reuters)
4 / 104. Crude Oil: Oil prices fell on Wednesday on concerns over how quickly fuel demand will recover even as lockdowns ease in many countries with falling coronavirus cases, with U.S.-China tensions adding to pressure. Brent crude futures fell 40 cents, or 0.7 percent, to $35.77 by 0009 GMT, after falling 1.8% on Tuesday. U.S. West Texas Intermediate (WTI) crude futures were down 49 cents, or 1.2 percent, at $33.95 a barrel, having risen 3.3 percent the previous session. (Image: Reuters)
5 / 105. Rupee Close: The rupee gained by 29 paise - or 0.38 per cent - to close at 75.66 against the dollar on Tuesday, as trading in the currency markets resumed after a day's holiday. The rupee tracked gains in Asian currencies which strengthened against the US dollar amid growing optimism on a global economic recovery from the COVID-19 pandemic and US-China tensions, say analysts. Losses in the domestic equity markets however capped the gains. (Image: Reuters)
6 / 106. SC On Levying Interest Charges During Moratorium: The Supreme Court on Tuesday issued notice to the Centre and Reserve Bank of India on a plea challenging the levy of interest on loan during the stipulated moratorium period. The plea has been filed by a borrower, who is aggrieved by the March 27 RBI notification. This notification allows interest on the loan to be levied during the moratorium period, which has been extended up to August 31. The plea argues the interest on loan during moratorium is unconstitutional, as during lockdown, people's income has already shrunk and people are under financial crisis. (Image: Reuters)
7 / 107. States' Deficit Jumps to 4.5% Of GDP: Led by a massive spike in revenue deficit of 2.8 percent of GDP, the aggregate fiscal deficit of the states will rise to 4.5 percent of the GDP in 2020-21 at Rs 8.5 lakh crore as against the earlier forecast of 3 percent of GDP, says a report. According to a report by domestic rating agency India Ratings on Tuesday, the combined gross and net market borrowings of the states will be 4.5 percent of GDP and 3.3 percent of GDP, respectively, in the current fiscal (FY21). (Image: Reuters)
8 / 108. BMS Plans Nationwide Movement On Major Labour Issues: RSS-affiliated Bharatiya Mazdoor Sangh (BMS) has prepared an action plan for a nationwide movement on five major labour issues that have emerged due to the coronavirus-related lockdown in the country, the trade union said on Tuesday. As part of the action plan, the trade union will approach Lok Sabha and Rajya Sabha MPs to put pressure on the government to change its policies and perception related to the major labour issues. Pathetic condition of migrant workers, huge job losses, refusal to pay wages, unilateral suspension of labour laws and increase in working time to 12 hours and unbridled privatization are the five major issues that have emerged due to the lockdown, the union said. (Image: Reuters)
9 / 109. Fitch Ratings On India's GDP: Global ratings and research Fitch Ratings has further lowered its projection for global economic outlook and the biggest forecast cut was handed to India, its latest Global Economic Outlook (GEO) released on Tuesday showed. According to Fitch Ratings, India is now expected to see a 5 percent decline in growth in the current financial year, compared to its earlier forecast of a growth of 0.8 percent. "India has had a very stringent lockdown policy that has lasted a lot longer than initially expected and incoming economic activity data have been spectacularly weak,” its latest GEO report said. (Representational Image)
10 / 1010. India's Worst Recession Is Here, Says CRISIL: India's fourth recession since Independence, first since liberalisation, and perhaps the worst to date, is here, global rating and research agency CRISIL on Tuesday said. In a report on India’s growth forecast released today, titled "Minus Five", CRISIL forecast India’s GDP growth to fall off a cliff and contract 5 percent in fiscal 2021. The first quarter of the year, as per this report, will suffer a massive contraction of 25 percent.Earlier on April 28, CRISIL had slashed its India growth prediction to 1.8 percent for FY21, from 3.5 percent forecast earlier, but it said “things have only gone downhill since” in its latest publication. It now expects non-agricultural GDP to contract 6 percent, and adds that agriculture could cushion the blow by growing at 2.5 percent this fiscal. (Image: Reuters)
