Stocks
Asian Markets Mixed Amid Wall Street Slump, Investors Seek Catalysts
Asian Markets showed a mixed performance on Wednesday, following a negative trend on Wall Street. Observers are cautioning that the recent surge in equities might be losing momentum, and investors are eagerly awaiting fresh catalysts to reignite buying.
The subdued market activity across the region this week precedes key data releases from the US, including the Federal Reserve’s preferred measure of inflation and the upcoming corporate earnings season. Although the central bank hinted at three interest rate cuts this year, some investors are skeptical due to recent indicators and statements from policymakers.
Recent figures on February’s durable goods sales, released on Tuesday, indicated a healthy state of the world’s largest economy and a slight improvement in consumer confidence, albeit with less optimism about the future.
Upcoming releases include jobless claims, economic growth readings, and the crucial Personal Consumption Expenditures (PCE) index on Friday. Analysts anticipate a modest uptick from January in the PCE index, which is not likely to unsettle markets significantly, although a significant deviation could raise concerns.
The following month marks the onset of earnings releases, which could profoundly impact sentiment. The recent market rally has been partly fueled by expectations for future profits, making corporate earnings performance crucial.
Stephen Innes of SPI Asset Management remarked, “With market valuations at lofty levels, there’s little room for corporate earnings performance to falter or for the Federal Reserve to deviate from its anticipated course of three rate cuts. Any divergence from these expectations could potentially lead to market turbulence.”
On Wall Street, all three main indexes closed in negative territory, despite spending most of the day in positive territory. In Asian trading, Hong Kong, Shanghai, Seoul, Jakarta, and Wellington experienced declines, while Sydney, Singapore, Taipei, and Manila saw gains. Tokyo advanced by one percent, driven by a weaker yen fueled by comments from Bank of Japan board member Naoki Tamura, indicating a continued stance of easy monetary policy for now.
Dhaka Stock Exchange DSE, Bourse on the second working day of the week, 20th May, ended with a drop in Indices and gain in Turnover from the previous working session. This information is known from DSE sources.
Today, DSEX stops at 5,393 points, marking its lowest record in approximately 39 months since February 24, 2021, when it was at 5,385 points. Additionally the Indices marked 6th day losing streak.
561 crore 21 lakh taka shares were traded on this day. 152 crore 2 lakh more tradings were done in DSE today compared to the previous workday, 19th May , Shares worth Tk 409 crores 18 lakh shares were traded last time, Sunday
The benchmark DSEX lost 37.62 points or 5,393 The Shariah-based index DSES dropped 10.88 points or 1,180, and the blue-chip index DS30 decreased by 9.55 points or 1,938.
Of the issues traded, 81 advanced, 238 declined and 30 remained unchanged.
Orion Pharma Limited ranked top gainer on DSE, the share price increased by Tk 6.80 paisa or 9.81 percent. On this day, the share was last traded at Tk 76.10 paisa.
eGeneration Limited ranked top loser on the DSE, the share price dropped by Tk 1.50 paisa or 3.00 percent. On this day, the share was last traded at Tk 48.60 paisa.
DSE topped on trade is Orion Pharma Limited 41 crore 45 lakh takas of company shares have been traded.
A total of 42 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 46 lakh 41 thousand 807 shares of the companies were traded. The financial value of which is 31 crore 87 lakh taka
One of the listed companies, Provati Insurance Company Limited discloses its financial reports for the first quarter, (January – March 24).
The company’s earnings per share (EPS) was Tk 0.55 paisa in Q1 of the current financial year (January – March 24). EPS was Tk 0.73 (restated) paisa during the same period last year. As of March 31, 2024, at the end of the first quarter of the fiscal year, the company’s net asset value (NAV) per share stood at Tk 21.56.
One of the listed companies, Delta Life Insurance Company Limited, discloses its financial reports for the first quarter, second quarter. This source is known from DSE.
Q1: The company’s consolidated life revenue account for January to March 2022 shows significant growth and increased activity in its life insurance segment.
As of March 31, 2022, the balance of the Life Insurance Fund stood at 39,447.09 million taka. This marks an increase from 38,669.99 million taka recorded on March 31, 2021, resulting in a net growth of 777.10 million taka over the year.
The company also reported a substantial rise in net premium income for the first quarter of 2022. Net premiums collected from January to March 2022 amounted to 1,534.55 million taka, compared to 1,277.77 million taka during the same period in 2021.
However, the company experienced a rise in total expenses for the first quarter of 2022. Expenses reached 2,624.33 million taka, up from 2,137.90 million taka during the same period in 2021.
Q2: According to the company’s consolidated life revenue account for the half year ending June 30, 2022, the Life Insurance Fund grew significantly. The balance of the fund was 39,757.84 million taka as of June 30, 2022, compared to 38,752.46 million taka on March 31, 2021, resulting in a net increase of 1,005.38 million taka.
Net premiums collected from April to June 2022 were 2,042.16 million taka, up from 1,549.95 million taka during the same period in 2021, showing a healthy increase in premium income.
Total expenses for April to June 2022 were 2,523.06 million taka, compared to 2,282.25 million taka during the same period in 2021. This rise in expenses reflects the company’s expanded operations and investments.
Q3: According to the company’s consolidated life revenue account for the third quarter ending September 30, 2022, the Life Insurance Fund showed significant growth. The balance was 39,908.687 million taka as of September 30, 2022, compared to 38,745.166 million taka on September 30, 2021, marking a net increase of 1,163.521 million taka.
Net premiums collected during July-September 2022 were 1,751.352 million taka, up from 1,665.650 million taka in the same period in 2021, indicating an increase in premium income.
Total expenses for July-September 2022 were 2,289.415 million taka, down from 2,493.825 million taka during the same period in 2021. This decrease in expenses reflects improved cost management.
