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Market Review

US: The US stock market ended Friday’s volatile session lower with all three major stock indexes posting weekly losses.

Asia: Asian shares fell on Monday, dragged by China, after central banks last week reinforced the message that interest rates would stay higher for longer, while investors braced for inflation data from the U.S. and Europe.

India: Equity markets swung in trades on Friday as boost from JP Morgan's decision to include Indian bonds in its Emerging Market index weathered weak global sentiment. Market is expected to open flattish note and likely to witness sideways move during the day. 

Global Economy: Egypt said it had agreed with the International Monetary Fund (IMF) to merge the fund's first and second reviews of its economic reform programme, after the first review was repeatedly delayed amid questions over Egypt's progress in meeting the IMF's terms. The IMF in December approved a $3 billion Extended Fund Facility loan for Egypt, which has been under acute financial pressure since longstanding problems were exposed by economic fallout from the war in Ukraine. 

In a significant move to protect the electric vehicle (EV) industry in Europe, the EAMA has urged policymakers to delay the implementation of post-Brexit tariffs on EVs. The appeal was made on Sunday, ahead of a trade officials meeting scheduled for this week.The association's plea comes in response to concerns that the impending tariffs, set to be enforced between the UK and the EU from January, could lead to a substantial decline in regional production

Commodities: Gold steadied on Monday after eking out a narrow 0.1% gain last week, as investors assessed U.S. Federal Reserve officials’ warning of further interest rate hikes ahead of a consumer inflation gauge due later this week. Oil prices rose on Monday as investors focused on a tighter supply outlook after Moscow issued a temporary ban on fuel exports while remaining wary of further rate hikes that could dampen demand.

Currency: The yen approached the closely watched 150 per dollar level on Monday and kept traders on intervention watch after the Bank of Japan and Governor Kazuo Ueda quashed hopes of any imminent move away from its stark ultra-loose monetary policy.

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