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Market Review

US:

US market was closed

Asia:

Asia-Pacific markets mostly rose Tuesday following a quiet day on Wall Street where the U.S. markets were closed for a public holiday.

India:

Benchmark indices managed to end in the green on Monday despite selling pressure due to rising inflation that threatens monetary tightening and surging Covid-19 cases that may result in harsher curbs. The 30-share pack Sensex rose 85.88 points or 0.14 % to close at 61,308.91.Market is expected to open on a flattish note and likely to witness sideways move during the day

Economy:

New Zealand business confidence and demand dropped in the fourth quarter of last year as the COVID-19 outbreak dragged on, a private think tank said on Tuesday.A net 28.0% of firms surveyed expected general business conditions to deteriorate compared with 11% pessimism in the previous quarter China’s economy grew slower in 2021, potentially impacted by a property market slump. The slower growth also prompted the PBOC to cut interest rates on policy loans.Data released earlier in the day showed that the GDP grew 4% year-on-year in the fourth quarter. Australian consumer confidence took a battering last week as an explosion in coronavirus cases triggered self-imposed lockdowns, squashing spending and blowing holes in supply chains.A survey from ANZ out on Tuesday showed its measure of consumer sentiment slid 7.6% last week to its lowest since October 2020, lower even than during the Delta variant surge when much of the country was officially locked down when much of the country was officially locked down.

Commodities:

 Brent oil extended gains to the highest level in seven years as geopolitical tensions stirred in the Middle East and concerns about the demand impact of the omicron virus variant eased. Gold was steady as investors weighed the outlook for monetary policy against the risks posed by the omicron virus variant to the global economic recovery.

Currency

The yen edged higher ahead of the outcome of a central bank policy meeting on Tuesday, while the dollar seemingly ignored U.S. Treasury yields hitting new near twoyear highs on their return from a long weekend break

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