Stocks
Asian Markets Navigate Uncertainty Over Fed Rate Cuts
Asian investors proceeded cautiously on Thursday following remarks from a Federal Reserve official suggesting a potential delay or reduction in interest rate cuts. Meanwhile, the yen maintained its gains after briefly reaching a 34-year low the previous day.
As a recent market rally begins to lose steam, traders are reassessing the US monetary policy outlook. Above-forecast inflation and economic data have led some to question whether the central bank can adhere to its projection of three rate cuts this year.
Confidence has been further shaken by recent comments from Fed officials. Atlanta president Raphael Bostic reiterated his stance of expecting only one rate cut this year, warning against hasty actions that could disrupt the market. Governor Lisa Cook also urged caution among decision-makers.
The latest remarks came from Fed governor Christopher Waller, who suggested a reduction in the number of rate cuts or delaying them in response to recent data. Waller noted progress in reducing inflation but expressed concern over slowed or stalled progress in recent months.
His comments preceded the release of the personal consumption expenditures (PCE) index, expected to show a slight increase, on Friday. Despite concerns, all three main indexes on Wall Street saw gains, with the S&P 500 reaching another record high.
In Asia, markets were mixed, with Hong Kong, Shanghai, Sydney, and Wellington posting gains while Singapore, Seoul, Taipei, and Jakarta declined. Tokyo saw a decline of over one percent as the yen stabilized after hitting its weakest level since 1990 against the dollar.
A Bank of Japan official’s comments warning of continued accommodative monetary policy contributed to the yen’s slide. Speculation has arisen regarding potential intervention to support the currency, with Vice Finance Minister Masato Kanda expressing readiness to take necessary measures.
Market analysts anticipate heightened anticipation for Bank of Japan intervention, particularly in light of recent yen fluctuations. Concerns persist over potential market disruptions in the absence of intervention before the weekend.
A review of South Asian stock markets shows that India’s Bombay Stock Exchange (BSE) index BSE Sensex has added 642 points during the week. At the end of the week, the index stood at 73,730 points. On the other hand, the Nifty-50 index of the country’s National Stock Exchange gained by 272 points last week. At the end of the week, the index stood at 22,419 points.
Pakistan Stock Exchange Index ‘KSE 100’, gained 1,800 points last week. After a week of gaining, the index settled at 72,744 points.
On the other hand, The Sri Lankan stock market index hiked, and the Colombo Stock Exchange index ‘ASPI’ increased by 448 points in a week. After a week the index settled at 12,201 points.
Bhutan’s stock market index ‘BSI’ lost 1 points hence the index stood at 1,525 points throughout the whole week. Nepal’s ‘NEPSE’ lost 7 points, therefore the index stands at 1,965 points.
Hence Dhaka Stock Exchange: The benchmark index ‘DSEX’ lost by 168 points or 2.96 percent, in the outgoing week. At the end of the week, the index stands at 5,518 points.
Weekly Dhaka Stock Exchange, DSE, Dhaka Bourse has seen a massive drop in Indices & Market Capitlization on the other hand Turnover hikes throughout the whole week. This information was disclosed in the weekly market review from the DSE.
According to sources, (5 working days) the turnover of DSE added by Tk 852 crore 8 lakh (April 21 – April 25). At the same time, the market capitalization has decreased by 6 thousand 764 crore 1 lakh taka.
The benchmark index ‘DSEX’ lost by 168 points or 2.96 percent, in the outgoing week. At the end of the week, the index stands at 5,518 points. The Shariah-based index ‘DSES’ lost 29.29 points or 2.35 percent and therefore the index stands at 1,217 points. The blue-chip index ‘DS30’ decreased by 10.06 points or 0.51 percent, hence the index stands at 1,974 points.
Shares and units worth 2 thousand 764 crore 90 lakh taka were traded in Dhaka Stock Exchange. At the end of the week, the market capitalization stood at 6 lakh 99 thousand 561 crore 10 lakh taka.
Shares and units of 411 companies were traded on Bourse during the week. Of these, 10 shares were unchanged, 327 companies declined, and 57 companies advanced.
Asiatic Laboraitories Limited has ranked at the top of weekly trading on DSE. The Company records an average turnover of 31 crore 27 lakh taka.
Orion Infusion Limited ranked at the top of weekly gainers on DSE. The share has risen 22.93 percent to its highest price.
Olympic Accessories Limited has ranked at the top of weekly losers on DSE. The share has dropped 19.86 percent lowest in the last week.
Dhaka Stock Exchange DSE, Bourse on the last working day of the week, April 25th, ended with a massive drop in Indices and Turnover from the previous working session. This information is known from DSE sources.
511 crore 43 lakh taka shares were traded on this day. 91 crore 31 lakh less tradings were done in DSE today compared to the previous workday, 23rd April , Shares worth Tk 602 crores 74 lakh shares were traded last time, Wednesday.
The benchmark DSEX lost 60.48 points or 5,518 The Shariah-based index DSES dropped 12.29 points or 1,217, and the blue-chip index DS30 decreased by 10.17 points or 1,974.
Of the issues traded, 69 advanced, 300 declined and 27 remained unchanged.
ADN Telecom Limited ranked top gainer on DSE, the share price increased by Tk 9.60 paisa or 8.66 percent. On this day, the share was last traded at Tk 120.50 paisa.
Bata Shoe Company Bangladesh Limited ranked top loser on the DSE, the share price dropped by Tk 36.9 paisa or 3.77 percent. On this day, the share was last traded at Tk 941.00 paisa.
DSE topped on trade is Orion Infusion Limited 31 crore 69 lakh takas of company shares have been traded.
A total of 35 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 26 lakh 36 thousand 734 shares of the companies were traded. The financial value of which is 16 crore 61 lakh taka
