MARKET
HEADLINES
- China's yuan crosses midpoint into stronger territory for 1st time since MarchChina's foreign exchange market on Wednesday traded yuan at a higher price than the official guidance rate for the first time since the currency's trading band was widened in March. The movement illustrates the steady return of bullish sentiment even in the face of flat guidance from the central bank. The People's Bank of China (PBOC) set the daily midpoint rate at 6.1681 per dollar on Wednesday. But the spot rate traded at 6.1680 per dollar in the afternoon, firmer than the midpoint for the first time since March 11 and its strongest position against the dollar since March 17. On March 15, the PBOC widened the intraday trading band - the range the spot rate has to trade above or below the daily fix - to 2 percent up from 1 percent, allowing greater two-way volatility into the market. Traders said the bank engineered a 3.3 percent depreciation in the Chinese currency in the first four months of this year to deter speculators from betting on a non-stop yuan appreciation. This caused the spot rate to trade far weaker than the midpoint for several months.
- South Korean won falters on firm US dollar, stocks downThe South Korean won dropped on Wednesday as risk aversion stemming from escalating geopolitical tensions in Ukraine and broad dollar strength pressured the local currency. The won was quoted at 1,033.7 against the dollar at the end of onshore trade, down 0.5 percent from Tuesday's local close at 1,028.2. South Korean shares were also dragged down by concerns over Ukraine and profit-taking from institutions in afternoon trade, leaving the Korea Composite Stock Price Index (KOSPI) down 0.3 percent at 2,060.73 points. Institutions dumped a net 123.2 billion won ($119.21 million) worth of KOSPI shares after they turned net sellers past midday.Register yourself for free Comex Tips , Equity Tips , Free Nifty Tips, Nifty Option Tips, Stock Option Tips, Stock Options Tips, Nifty Options Tips , Share Tips , Free Ncdex Tips , Free Mcx Tips , Free Commodity Tips, Domestic Forex Tips , Nifty Options Calls , Mcx Bullion Tips , Bank Nifty Tips , Mcx Gold Tips , Mcx Crude Tips , Comex Silver Trading Tips .Click here to get free trial http://www.researchvia.com/free-trials/ or reply your no. along with your trading segment.
The market recouped all its losses in afternoon trade with the Nifty reclaiming 7700 level supported by banks, capital goods, oil & gas and FMCG stocks. Stock trading tips
ReplyDeleteShares of railways have rallied after the Union Cabinet cleared the proposal to allow 100% foreign direct investment (FDI) in railway infrastructure.
ReplyDeleteShare Market Tips
Copper headed for a second weekly decline after imports by China, the biggest user of the metal, fell to the lowest since April 2013.
ReplyDeleteCommodity Intraday Tips
Apollo Tyres plans to raise about Rs 1,725 crore through issue of securities was today approved by the shareholders of the company.
ReplyDeleteFree Equity Tips
Copper rose as stockpiles fell to a six-year low and on speculation demand may rise in China after below-target inflation signaled room for policy easing in the world’s largest user.
ReplyDeleteCommodity Intraday Tips
BHEL has slipped 5.4% after a sharp 58% year-on-year drop in its net profit at Rs 194 crore for the quarter ended June 30, 2014 (Q1), mainly due to decline in sales from power and industry segments.
ReplyDeleteShare Tips
London copper fell on Tuesday to near six-week lows as improving supply and renewed tension between Ukraine and Russia combined with a summer lull to curb investors' appetite for risky assets.
ReplyDeleteCommodity Intraday Tips