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Market Review

US

U.S. stocks climbed on Friday as investors brushed off a stronger-than-expected inflation reading, as both the Dow and S&P 500 indexes clinched their first weekly gain in the past three weeks.

Asia

Asian shares edged higher on Monday, looking to extend their recent rally to a third week should U.S. jobs figures show the expected revival in hiring in May and keep the global recovery on track.

India:

Equity benchmark sensex rallied over 300 points in early trade on Friday tracking gains in index majors Reliance Industries, HDFC twins and ICICI Bank amid positive cues from global markets. Market is expected to open open on a flattish note and likely to witness sideways move during the day

Economy:

South Korea's factory output in April unexpectedly declined from March but logged the fastest expansion in almost three years on a year-on-year basis compared to 2020's pandemic-impacted figures.From March, industrial production fell by a seasonally adjusted 1.6%, the biggest contraction since May last year

China's factory activity slowed slightly in May as high raw materials costs and supply bottlenecks continued to weigh on industrial production, particularly for small and export-oriented firms. The official manufacturing PMI inched lower to 51.0 in May from 51.1 in April, data from the National Bureau of Statistics showed on Monday, but remained above the 50-point mark that separates growth from contraction. Japan's industrial output extended gains in April as manufacturers benefited from a recovery in appetite for capital goods, especially in key overseas markets. Official data released showed factory output grew 2.5% from the previous month in April, as higher production of general-purpose and electrical machinery offset a contraction in cars and transportation equipment output

Commodities:

Oil prices climbed in early Asian trade on Monday, underpinned by the bright outlook for fuel demand growth in the next quarter, while investors looked ahead to the OPEC+ meeting this week for supply guidance. Gold prices held firm above the key $1,900-level on Monday after U.S. consumer prices rose more than expected in April and supported the metal as an inflation hedge

Currency:

The dollar held near a two-month high against the yen on Monday after a key measure of U.S. inflation showed stronger price gains than expected, keeping alive expectations of an eventual tapering in the Federal Reserve's asset buying.

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