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Market Review

US:

Wall Street's main indexes ended sharply higher on Monday, led by gains in Broadcom and other chipmakers, after President Donald Trump struck a conciliatory tone about renewed U.S.-China trade tensions, easing investor worries.

Asia:

Asian stocks made a tentative rebound in early trade on Tuesday, with an uneven recovery taking place across regional equity markets after signs that trade negotiations between the U.S. and China remain on track.

India:

The last-hour buying helped Indian benchmark indices recover intraday losses, ending marginally lower after a choppy session on October 13, as Nifty 50 closed above 25,200 amid some easing in US-China trade rhetoric, hopes of progress in India-US trade talk as pointed out of PM Modi, and the peace deal between Hamas and Israel. Market is expected to open on a flattish note and likely to witness range bound move during the day.

Global economy:

IMF meetings begin under fresh cloud of US-China trade tensions. The IMF and World Bank's semi-annual gathering commenced amidst renewed trade tensions between the US and China. While initial market reactions were negative, a deescalation in rhetoric offered some relief. Global growth is expected to slow slightly, with a focus on job creation and support for Ukraine's reconstruction.

US-China Trade War- China declared its readiness to "fight to the end" in a trade war with the United States following President Trump's announcement of an additional 100 percent tariff on all Chinese goods. Beijing stated its export controls on rare earths are legitimate actions to improve its system and safeguard national security.

Singapore keeps monetary policy unchanged as growth remains firm and stated that Singapore’s economic growth has turned out stronger than expected and the output gap will remain positive in 2025 and come in around 0% next year.

Commodities:

Oil prices rose on Tuesday as early signs of a thaw in U.S.-China trade tensions bolstered market sentiment, alleviating concerns over global fuel demand

Gold prices climbed to a record high on Tuesday as renewed U.S.-China trade tensions exacerbated broader uncertainty, bolstering safe-haven demand, while the prospects of U.S. rate cuts lent support, with silver also reaching an all-time peak.

Currency:

The dollar held steady on Tuesday as U.S. President Donald Trump's watered down rhetoric against tariffs on China and a potential meeting with his Chinese counterpart raised hopes of de-escalation in tensions between the two economic heavyweights.

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