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Market Review

US:

On Friday, after posting the best rally, US share indices took a breather as chipmakers' stocks weighed.

Asia:

Most Asia-Pacific markets were trading higher in early trade Monday tracking Wall Street move from Friday. Market participants focused on US President Donald Trump's policies.

India:

Market extended their losses for the third consecutive week as earnings woes continue to hurt investor sentiments. Market is expected to open on a gap down note and likely to witness sideways move during the day.

Global economy:

China's Jan non-manufacturing activity grew but at a slower pace than in Dec, suggesting policymakers need to introduce even more stimulus measures to prop up depressed domestic demand. The official non-manufacturing purchasing managers' index, which includes services and construction, fell to 50.2 from 52.2 in Dec. The 50-point mark separates expansion from contraction in activity on a monthly basis. The NBS composite PMI, which includes manufacturing and services, came in at 50.1 in January, versus 52.2 in Dec. The US housing market showed signs of modest growth as the Existing Home Sales figures were released. The actual number of sales for the previous month came in at an annualized rate of 4.24 mn. This figure surpassed the forecasted number of 4.19 mn homes, indicating a more robust housing market than analysts had predicted. The growth in home sales suggests a strengthening economy, which could potentially bolster the US dollar. In comparison to the previous month's figures, the actual number of existing home sales also showed an increase. The previous month's sales stood at an annualized rate of 4.15 mn homes, marking a growth of around 2.2% month-on-month.

Commodities:

Oil prices fell more than 1% on Monday after Trump called on OPEC to reduce prices following the announcement of wide-ranging measures to boost U.S. oil and gas output in his first week in office. Gold prices edged lower in early Asian hours on Monday as the dollar gained, while investors awaited more guidance on interest rate decision from the U.S. Fed's first meeting of 2025 later this week.

Currency:

The dollar firmed on Monday as traders pondered the ramifications of Trump's tariff plans at the start of a week where the Fed is widely expected to hold int rates steady.

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