Market is expected to open on a gap up and likely to witness sideways move during the day - Nirmal Bang Ltd
Market Review
US:
Stocks closed higher Monday following news over the weekend that certain technology products had received at least temporary exemptions from President Trump's reciprocal tariffs.
Asia:
Markets in Asia were trading higher Tuesday morning, tracking an overnight rally in stocks on Wall Street. The Nikkei 225 and KOSPI indices were trading 1.12% and 0.56% higher, respectively.
India:
Indian shares posted their second consecutive week of losses, battered by an escalating global tariff war. Benchmark equity indices did manage to end higher on Friday. Market is expected to open on a gap up and likely to witness sideways move during the day.
Global economy:
Global markets are experiencing volatility from uncertainty over U.S. tariff policy but not seeing a huge decline in short-term liquidity, a senior Bank of Japan official said. Unlike during the global financial crisis, we’re not seeing a major decline in short-term liquidity. But the BOJ will continue to scrutinise market developments, and their impact on global and domestic economies, Akio Okuno, head of the central bank’s monetary affairs department, told parliament.
Harvard on Monday rejected numerous demands from the Trump administration that it said would cede control of the school to a conservative government that portrays universities as dangerously leftist. Within hours of Harvard taking its stand, the administration of President Donald Trump announced it was freezing $2.3 billion in federal funding to the school. The funding freeze comes after the Trump administration said last month it was reviewing $9 billion in federal contracts and grants to Harvard as part of a crackdown on what it says is antisemitism that erupted on college campuses during proPalestinian protests in the past 18 months.
Commodities:
Oil prices climbed in early trading on Tuesday, boosted by new tariff exemptions floated by President Donald Trump and a rebound in China crude oil imports in anticipation of tighter Iranian supply.
Gold prices edged up on Tuesday amid continued uncertainty over U.S. President Donald Trump's tariff plans and their impact on the global economy.
Currency:
The U.S. dollar found some footing on Monday but was still near a three-year low after a bruising week that shook investor faith in the world's reserve currency as U.S. President Donald Trump's tariff plans whipsawed global markets.
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