One of the listed companies, United Insurance Company Limited discloses its financial reports for the first quarter, (January – March 24).

The company’s earnings per share (EPS) was Tk 0.38 paisa in Q1 of the current financial year (January – March 24). EPS was Tk 0.22 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 28.28.

Most Asian markets climbed on Monday following data indicating fewer US jobs were created last month, renewing optimism that interest rates may be cut this year. Mainland Chinese equities also bounced on hopes for fresh government economic support.

A tech rally propelled the Nasdaq, leading Wall Street up after Friday’s non-farm payrolls figures. The data helped allay concerns that high inflation figures earlier in the year would keep borrowing costs at elevated levels.

April’s NFP report revealed 175,000 new jobs, significantly lower than the previous month and falling short of expectations. Wage growth was also slightly lower than forecast.

While the figures indicated a slowdown in the world’s second-largest economy, they did not raise fears of an impending recession.

The news increased bets on the Fed cutting rates in September, with investors revising their outlook. However, the anticipated rate cuts remain below the six initially envisaged at the start of the year.

“The softer wage growth and a slight increase in unemployment may ease some of the Federal Reserve’s concerns about implementing rate cuts this summer,” said Stephen Innes at SPI Asset Management.

Wall Street’s gains on Friday, along with another record for London, provided Asian investors with a positive lead, prompting most markets to follow suit.

Shanghai stood out as mainland investors returned from a long break, catching up with the global rally of the past few days. Traders also welcomed reports of potential measures to support China’s property sector and provide fresh support to the economy.

Market sentiment appeared to be incrementally improving, with factors such as improving traveler figures, market reforms, and strong corporate releases cited by Nicholas Yeo of abrdn.

Hong Kong extended recent gains into a tenth successive trading day, while Sydney, Singapore, Taipei, and Manila also posted gains. Wellington and Jakarta experienced slight declines.

The dollar strengthened against the yen, recovering some of the losses it incurred Friday following the US jobs report. The Japanese unit had a volatile week, hitting its weakest level in 34 years, prompting reported intervention in forex markets by authorities on Monday and Wednesday.

– Key figures around 0300 GMT –

Hong Kong – Hang Seng Index: UP 0.2 percent at 18,505.51

Shanghai – Composite: UP 1.0 percent at 3,135.57

Tokyo – Nikkei 225: Closed for a holiday

Dollar/yen: UP at 153.75 yen from 152.99 yen on Friday

Euro/dollar: DOWN at $1.0765 from $1.0767

Pound/dollar: UP at $1.2549 from $1.2546

Euro/pound: UP at 85.79 from 85.78 pence

West Texas Intermediate: UP 0.4 percent at $78.38 per barrel

Brent North Sea Crude: UP 0.3 percent at $83.19 per barrel

New York – Dow: UP 1.2 percent at 38,675.68 (close)

London – FTSE 100: UP 0.5 percent at 8,213.49 (close)

Professor Shibli Rubayat-Ul-Islam, Chairman of the Bangladesh Securities and Exchange Commission (BSEC), has identified liquidity mismanagement and indiscipline as the biggest problems for the money market presently.

Speaking at the Inter-University Capital Market Based Real-Time Investment Competition called “NeXTor,” organized by the East West University Investment and Finance Club, Shibli mentioned that lenders often meet investment demands by lending for the long term with money collected for the short term.

He noted that since the country’s independence, the economy has been largely shaped by the money market, but mismanagement of funds has led to a surge in non-performing loans (NPLs) there.

According to recent Bangladesh Bank figures, as of December last year, NPLs at banks amounted to Tk1,45,633 crore, which was 9% of their total outstanding loans, up from the previous year’s 8.16%.

Former Bangladesh Bank Governor Mohammed Farashuddin, speaking at the same event, echoed the sentiment of the BSEC chairman. He highlighted challenges faced by banks in managing funds for long-term investments due to their tendency to gather short-term deposits, sometimes for just one day.

Farashuddin pointed out that the country’s economy consistently grapples with an investment gap to satisfy the demand, suggesting that the capital market has the potential to bridge this divide and play a pivotal role in long-term investments.

Shibli emphasized the evolution of the country’s capital market beyond equity-based investments to offer diverse options capable of meeting long-term investment needs. He proposed the establishment of a robust capital market, including the introduction of a debt board for fundraising through bonds and an SME platform supporting small businesses.

He also disclosed plans to launch a commodity market through the Chittagong Stock Exchange to mitigate issues such as over and under-invoicing.

At the event, the East West University Investment and Finance Club recognized three winners in the real-time investment competition, which saw participation from 22 universities. Dhaka University emerged as the winner, with Bangladesh University of Professionals and North South University securing second and third positions.

Shibli highlighted that through such competitions, participants gain practical insights into the capital market, emphasizing the importance of experiential learning beyond theoretical knowledge.