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Market Review

US:

Wall Street's main indexes finished higher in choppy trading on Wednesday, as investors cheered the likely easing of trade tensions between the U.S. and major trading partners.

Asia:

Asian equities rose Thursday after Wall Street advanced as US President Donald Trump agreed to a delay on newly imposed automaker levies on Mexico and Canada. German bonds sold sharply on higher defense spending

India:

On Wednesday, the Indian stock market rallied, with both the benchmark indices ending with gains of over 1% each, marking their biggest intraday jump in a month. Market is expected to open on a positive note and likely to witness positive move during the day.

Global economy:

U.S. services sector activity grew in February, beating expectations for a slight slowdown, but activity was still weaker than the prior month suggesting American households and businesses are bracing for the effect of Trump’s tariffs. The S&P Global’s services purchasing managers’ index came in at 51.0 last month, down from 52.9 in January. Economists had expected the figure to fall to 49.7.

Australia’s trade balance grew slightly below expectations in January, as steady imports offset a surge in exports fueled by rising gold demand. Trade balance rose to a surplus of A$5.62 bn in January, from A$4.92 bn in the prior month. The reading was lower than expectations for a surplus of A$5.85 bn South Korea’s consumer inflation softened in February for the first time in four months, providing at least some relief to policymakers looking to further ease monetary policy. The consumer price index (CPI) rose 2.0% from a year earlier, slower than a gain of 2.2% in the previous month, according to Statistics Korea.

Commodities:

Oil prices steadied on Thursday after falling over the past four sessions as U.S. tariffs on Canadian crude supply may be eased but investors remain wary of remaining tariffs on Mexico and major producers’ plans to increase output.

US gold prices were little changed on Thursday, as investors awaited US non-farm payrolls data to assess the Federal Reserve's interest rate trajectory amid growing trade tensions between the US and its trading partners.

Currency:

The US Dollar remains subdued as risk sentiment improves following President Trump’s tariff strategy shift.

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