India's key stock indices plunged about 1.3% each on Wednesday to their lowest in almost five months as unabated selling by foreign funds amid concerns over slackening corporate earnings growth soured sentiment further. Uncertainty over US President-elect Donald Trump's economic policies is also keeping investors on the edge. The Sensex and Nifty have dropped 10% from peaks on September 27.
Open FlipAsian shares drifted higher Thursday after US inflation data supported the case for another Federal Reserve rate cut next month. Stocks in Japan and Australia climbed, while futures for Hong Kong fell as a gauge of US-listed Chinese companies declined Wednesday. Hong Kong’s stock exchange will keep its markets open despite signs of severe weather.
Open FlipOil prices dropped slightly early on Thursday on expectations of higher global production amid forecasts for weak demand growth, while a firmer dollar also kept a lid on prices. Brent crude futures were down 6 cents, or 0.08%, at $72.22 a barrel by 0133 GMT. U.S. West Texas Intermediate crude (WTI) futures were down 13 cents, or 0.19%, at $68.30.
Open Flip