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Market Review

US:

US markets ended mixed on Monday with decline in tech stocks.

Asia:

In Asia, Japan's benchmark Nikkei 250 was down 0.9% while South Korea's Kospi gained 0.35% early Tuesday.

India:

Indian equities extended their fall for the fourth consecutive session, with financials, energy and realty stocks weighing down the indices. Market is expected to open on a positive note and likely to witness range bound move during the day.

Global economy:

Italian residents' deposits with domestic banks rose for the sixth month in a row in November and at a faster pace, while bank lending to businesses fell for the 22nd consecutive month. Residents' deposits with domestic banks increased 4.4% year-on-year in November after rising 2.5% in October. Bank loans to businesses fell 3.6% year-on-year, the central bank said, after a 3.1% decline in October. Banks increased their bond issuance but less than in the previous month, the data also showed, with sales up 7.2% year-on-year in November after a 9.6% rise in October, slightly revised. Euro zone households reduced their savings a touch in the third quarter of last year but still set aside an exceptionally large portion of their disposable income, highlighting a key challenge holding back growth. The euro zone savings rate dipped to 15.3% in the third quarter from 15.6% three months earlier, the first decline since early 2022, but stayed well above the 12-13% range prior to the pandemic. Euro zone households have been saving up an unusually large portion of their incomes over the past several years, trying to rebuild some of their real wealth lost to inflation.

Commodities:

Oil prices slipped at market open on Tuesday but remained near four-month highs as Chinese and Indian buyers sought new suppliers in the wake of the Biden administration's toughest sanctions yet on Russian oil. Gold prices gained on Tuesday, amid uncertainty around the incoming Trump administration's policies and fresh positioning ahead of crucial U.S. data for further cues on the Federal Reserve's monetary policy.

Currency:

The dollar hung near its highest in more than two years on Tuesday as traders scale back U.S. rate cuts in 2025 after strong economic data, while investor worries about Britain's fiscal health kept frail sterling in the spotlight.

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