look news india
Global Market: Mixed signals are being seen from the global market. Asia has seen a soft opening. Gift Nifty and US futures are trading with moderate pressure. US markets remained strong yesterday. Dow and S&P 500 closed at record highs again. Enthusiasm increased due to relief package in China. The market gained momentum after China's relief package announcement. Shanghai Composite rose 4% in a day for the first time in four years. The Golden Dragon Index rose 9.1% in New York trading. The Golden Dragon Index is an index of Chinese companies listed in the US.
The market expects a rate cut of 0.50% in Europe. The market expects further rate cuts in the US. A rate cut of 0.50% is expected in November and 0.25% in December. Gold at record high, silver at 11-year high.
Will the situation improve in China?
A relief package of 500 billion has been announced. The head of PBOC made this statement in a press conference. The reserve requirement ratio will be reduced by 0.50%. The 7-day repo rate will also be reduced by 0.20%.
surge in crude oil
There was a gain of more than 1% in a day. Brent prices crossed $75. WTI also traded around $72. This increase was due to the announcement of China's relief package. There was also support due to the deepening of the Middle East crisis. Iran may also enter the Israel-Hezbollah war.
Asian Marketplace
Today, mixed trading is being seen in the Asian market. GIFT Nifty is trading with a decline of 56.00 points. At the same time, Nikkei is seen around 38,040.18 with a gain of 0.26 percent. At the same time, Straits Times is showing a weakness of 0.39 percent. Taiwanese markets are trading 1.38 percent up at 22,740.41. While Hang Seng is seen at the level of 19,456.50 with a gain of 2.40 percent. At the same time, Kospi is trading with a gain of 0.13 percent. At the same time, Shanghai Composite is trading 2.88 percent up at 2,945.68.