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Market Review

US:

US stocks took a hit on Tuesday, with tech companies leading the decline, as investors anxiously await the Federal Reserve's interest rate decision on Wednesday.

Asia:

Asian stocks showed resilience early Tuesday, bucking the trend of declines on Wall Street. Shares in Japan and South Korea rose, while Australian equities slipped.

India:

India's benchmark equity indices had their best day in 28 sessions on Tuesday, closing higher for the second consecutive day as easing fears over a US recession and improved outlook for China lifted global stocks. Market is expected to open on a positive note and likely to witness positive move during the day.

Global Economy:

In February 2025, Japan's exports increased by 11.4% YoY, marking the fifth consecutive month of growth but falling short of the anticipated 12.1%. Imports decreased by 0.7%, leading to a trade surplus of 584.5 bn yen ($3.91 bn), which was below the expected 722.8 bn yen.

In February 2025, U.S. industrial production increased by 0.7%, surpassing expectations of a 0.3% rise. This growth was primarily driven by an 8.5% surge in motor vehicle and parts production, following declines in the previous two months. Manufacturing output overall rose by 0.9%. However, utilities output decreased by 2.5% due to reduced heating demand, and mining output rebounded with a 2.8% gain.

Commodities:

Oil prices fell slightly after Russia agreed to halt attacks on Ukrainian energy infrastructure, potentially easing sanctions and increasing oil supply. However, declines were limited by ongoing Middle Eastern turmoil, with U.S. aggression in Yemen, Israeli air strikes in Gaza, and mixed U.S. crude stock data.

Gold hovers just below its record high, driven by safe-haven demand due to geopolitical tensions and tariff uncertainties. Investors are keenly awaiting the Federal Reserve's policy decision and remarks from Fed Chair Jerome Powell, which could influence future monetary policy.

Currency:

The yen steadied on Wednesday while the dollar struggled to regain some lost ground ahead of key rate decisions from the BOJ and the Federal Reserve later in the day.

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