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Market Review

US: U.S. Stocks rose on Wednesday as robust earnings of big technology firms helped eased worries about persistent price pressure

Asia: Markets in Asia-Pacific region rose in early trade on Thursday as overnight recovery on Wall Street boosted sentiment

India: India's benchmark equity indices erased their earlier losses to close higher for the second consecutive day on Wednesday, on the back of gains in SBI. Market is expected to open on a positive note and likely to witness range bound move during the day.

Global Economy: South Korea has prepared a financial support programme of 75.9 trillion won ($56.97 billion) for companies increasing investment in key sectors as well as small businesses struggling with the impact of high interest rates. The program includes 15 trillion won worth of cheap policy loans from a state-run bank for key industries, such as semiconductor and battery, while commercial banks will also provide 20 trillion won to support small and medium-sized businesses

The Japanese economy unexpectedly shrank in the fourth quarter of 2023, entering a technical recession as sticky inflation and a weak yen weighed on private spending, which largely offset improved export demand. Gross domestic product fell 0.1% quarter-on-quarter in the three months to December 31, government data showed on Thursday. The reading was weaker than expectations for a rise of 0.2%, but improved from the 0.8% decline seen in the prior quarter. Year-on-year, GDP fell 0.2% in the December quarter

Commodities: Gold prices held near a two-month low on Thursday, as traders assessed U.S. Federal Reserve officials' mixed remarks on January's hotter-than-expected inflation data Oil prices fell in Asian trade on Thursday, extending losses after a substantially bigger-than-expected build in U.S. inventories pointed to well-supplied markets, while Japanese recession signals drove up concerns over slowing demand

Currency: The U.S. dollar held below a three-month high on Thursday, as market players tried to gauge when the Federal Reserve will likely begin cutting interest rates as Fed officials weighed in on Tuesday's inflation data.

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