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Market Review

US:

The S&P 500 and the Dow hit record highs on Friday after Morgan Stanley wrapped up bumper quarterly earnings reports from big U.S. banks, while optimism about a solid economic rebound put the main indexes on course for weekly gains.

Asia:

Asian shares hovered near 1-1/2 week highs on Monday helped by expectations monetary policy will remain accommodative the world over, while COVID-19 vaccine rollouts help ease fears of another dangerous wave of coronavirus infections.

India:

Indian indices ended mixed on Friday as gains in IT, auto and pharma sectors were capped by losses in banking and financial stocks. The Sensex ended 28 points higher at 48,832 while the Nifty rose 36 points to settle at 14,618. Market is expected to open gap down likely to witness profit booking during the day

Economy:

Japan's exports posted their strongest growth in more than three years in March, led by a surge in China-bound shipments, in a sign the economic recovery from last year's deep coronavirus slump remains intact. Ministry of Finance data showed on Monday exports surged 16.1% in March from a year earlier, marking the steepest rise since November 2017. That was better than an 11.6% jump expected by economists in a Reuters poll China's exports to North Korea in March rose to a six-month high, with outbound shipments to its neighbour that month nearly 400 times more than Jan-Feb combined, in a sign of easing border restrictions imposed due to COVID-19.China exported $12.978 min of goods to North Korea in March, up from $3,000 in Feb and $33,000 in the first two months Taiwan central bank governor Yang Chin-long said they may again revise this year's growth forecast higher given the island's strong economic prospects.The central bank last month raised its 2021 estimate for GDP growth to 4.53% from 3.68% forecast in December.

Commodities:

Oil prices fell on Monday amid mounting concerns that surging caseloads of coronavirus infections in India and other countries will lead to stronger measures and hit economic activity, along with demand for commodities such as crude. Gold prices rose on Monday, hovering near a seven-week peak hit in the previous session, as a softer dollar and a retreat in U.S. Treasury yields lifted demand for the safe-haven metal.

Currency:

The dollar was pinned near a one-month low to major peers on Monday, with Treasury yields hovering near the lowest in five weeks, after the U.S. Federal Reserve reiterated its view that any spike in inflation was likely to be temporary.

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