Asian shares dogged by trade worries
Asian shares got the week off to a cautious start on Monday amid lingering concerns about escalating trade frictions while US oil prices maintained hefty gains made after major oil producers had agreed on a modest increase in production.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.2 per cent. Japan's Nikkei lost 0.4 per cent.
US markets end higher
The S&P 500 and Dow Jones Industrial Average climbed on Friday, as the Dow put to rest an eight-day losing streak with a boost from energy stocks, but losses in the technology space kept the Nasdaq in check.
The Dow Jones Industrial Average rose 119.19 points, or 0.49 per cent, to 24,580.89, the S&P 500 gained 5.12 points, or 0.19 per cent, to 2,754.88 and the Nasdaq Composite dropped 20.14 points, or 0.26 per cent, to 7,692.82. Good Morning!
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Benchmark indices are likely to open on a negative note following Asian shares, that got the week off to a cautious start on Monday amid lingering concerns about escalating trade frictions while US
oil prices maintained hefty gains made after major oil producers had agreed on a modest increase in production.
Meanhilwe, a new IPO, updates on trade tiff between US and China and monsoon’s progress will keep investors on their feet, ahead of the
June F&O Expiry later this week.
Aurangabad-based auto component maker Varroc Engineering will launch its Rs 19.55 billion initial public offer that opens on June 26 at a price band of Rs 965-967. The offer consists of an offer-for-sale to the tune of 20,221,730 equity shares by promoters and existing investors
Globally, MSCI’s gauge of stocks across the globe has fallen five of the last six weeks, including last week, when it declined one percent - its biggest weekly drop in three months as the threats of trade wars have become all the more real.
Chinese shares were among the biggest losers, tumbling 3.7 per cent last week, as Trump put the heat on Beijing, threatening to hit $200 billion of Chinese imports with 10 per cent tariffs.
