Mon, Nov 18, 2024 2:42 PM
Indian REITs distribute Rs 2,754 crore in H1 FY24, up 14% YoY
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Samsung Electronics shares surged 6.7% in Seoul trading after announcing a surprise plan to buy back $7.2 billion of its own stock over the next year, providing a short-term catalyst to the stock which slumped 30% this year. Samsung will cancel 3 trillion won of shares starting Monday, with the board deliberating on the remaining 7 trillion won.
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Wall Street brokerages have turned more cautious on Chinese stocks as persistent deflationary pressures and geopolitical tensions cloud the outlook for earnings in the world’s second-largest equity market. Morgan Stanley strategists reduced Chinese equities to a slight underweight within the region, while Goldman Sachs Group Inc. trimmed its index target on the MSCI China Index.
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Chinese equities rebounded as traders expect further stimulus and guidance on corporate valuation, with the Hang Seng China Enterprises Index rising 2.2% and financial stocks such as China Everbright Bank Co. fueling the gain, following a 6% loss last week. Chinese equities' rally has cooled due to deflation and geopolitical concerns.
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