Market indexes advanced for the third day in a row led by stocks in the energy, financial services, real estate and manufacturing sectors. Crude oil prices in international markets dropped to a 5-month low after exports from the U.S. surged to a record high.
Market indexes extended gains amid lingering positive sentiment following state election results. Crude oil edged lower, and gold retreated from a record high.
Market indexes advanced after the BJP won a comfortable majority in Rajasthan, Chhattisgarh, and Madhya Pradesh. Crude oil edged lower, but gold soared to a record high following the ongoing weakness in the U.S. dollar.
GDP in the September quarter expanded at a robust pace after government spending rebounded and the manufacturing and construction sectors expanded in double-digits, but consumer spending rose at a sharply slower pace.
Stocks in Mumbai advanced, and the initial public offerings of Tata Technologies, Gandhar Oil, and Fedbank Financial Services advanced on the first day of trading.
Stocks in Mumbai advanced and tech services providers, power sector stocks, and consumer-focused stocks led the gainers list. Gold jumped to a seven-month high in international trading following the decline in the U.S. dollar.
Stocks in Mumbai traded sideways, and the rupee hovered near its record low. Crude oil prices retained a downward bias ahead of the OPEC+ meeting on Thursday.
Markets in Asia traded higher following the gains in New York in Friday's trading. China property stimulus measures to support first time home buyers and halt a slide in yuan lifted market sentiment.
Stocks turned lower in Shanghai and Hong Kong after mainland consumer inflation dropped to near zero in April on weak demand for goods and wholesale inflation fell deeper in deflation.
Asian and European markets closed for a three-day weekend and stocks in Tokyo traded higher in thin trading. Factory activities in China declined but in India accelerated in April. South Korea's exports fell for the seventh month in a row and Taiwan's economy contracted in the first quarter.
Japan's wholesale prices accelerated in March and South Korea's GDP expanded in the first quarter driven by private consumption. Tech stock led decliners in Hong Kong, Seoul and Tokyo.
Asian markets were defensive amid lackluster trading and Japan reported 20th trade deficit in a row in March. Banks in China held their one-year and 5-year lending rates in April.
Asian markets traded higher tracking gains in overnight trading in New York after wholesale inflation unexpectedly fell. Singapore left its key lending rate unrevised using its currency control as a policy tool.
Asian markets muted gains a day after oil producing nations aligned with OPEC+ announced voluntary production cuts. The Reserve Bank of Australia paused its interest rate hike. Hong Kong intervened in the currency market for the third time this year.
North Korea stepped up its short and long range missiles firing in the last three days prompting Japan to request an emergency meeting of the UNSC. China held its key lending rates. Last week, container freight rates from China to North America and Europe plunged to a new low over twelve months.
