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Bourse Performed Negative

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Bourse dse

Dhaka Stock Exchange DSE, Bourses on the first working day of the week today, November 13, ended with price index & trades falls.

This information is known from DSE sources.

724 crores 15 lakh shares were traded in DSE on this day. 73 crores 78 lakh taka less trading was done in DSE today compared to the previous workday, 10 November, Shares worth Tk 797 crores 93 lakh shares were traded in DSE last time, Thursday.

As of today, the main index of DSE, DSEX, dropped by 48.93 points to 6,304 points. Among other indices, DSES, or Shariah index drops by 14.63 points to 1,370 points. DS30 index dropped by 22.48 points to 2,213 points.

Among the companies traded on DSE today, 25 advanced, 87 declined and 232 remained unchanged.

/NR

 

 

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Asian Markets Navigate Uncertainty Over Fed Rate Cuts

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Asian Markets

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.

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Asian Tiger Growth Fund releases Q2 Financials

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Asian Tiger Growth Fund

One of the listed funds, Asian Tiger Sandhani Life Growth Fund discloses its financial reports for the second quarter, (October– December 23).

The company’s earnings per unit (EPU) loss Tk 0.01 paisa in Q2 of the current financial year (October – December 23). EPU was loss Tk 0.17 paisa during the same period last year. NAV per unit at market price was Tk. 10.20 as on December 31, 2023 and cost price was Tk. 11.07 as on December 31, 2023.

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City Bank Declares 25% Dividends

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City Bank

One of the Listed companies, City Bank Limited has recommended 15% Cash Dividend & 10% Stock Dividends for the year ended December 31, 2023.

In terms of financial performance, The Company has further informed Consolidated EPS of Tk. 5.21 for the year ended December 31, 2023. The Company has also reported Consolidated NAV per share of Tk. 31.42 paisa.

The Annual General Meeting (AGM) of the company will be taking place on May 30, through the digital platform. The record date for this has been fixed at April 23.

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