Anil Dhirubhai Ambani Group firm Reliance Money, the retail broking arm of Reliance Capital Ltd, has announced its foray into Hong Kong and China with the launch of a bouquet of financial services for retail investors in these markets.
The company has launched its operations with its tie-up with leading broking firm - Goldride Securities Limited – for distribution of its financial products and services in the region.
This is the first initiative by an
Karachi - Pakistani stocks continued their slide on Wednesday falling by 4.4 per cent on reports of new taxes amid continued political and economic uncertainties, dealers said.
The benchmark KSE-100 Index fell by 567 points to close at 12,254 points against Tuesday's close at 12,822.
Traders expect imposition of capital gains tax and other levies on stock trades in the upcoming budget for 2008-09, to be presented in parliament on June 7, to boost dwindling government revenues.
"Any imposition of taxes will hit our market volumes and trading," said Zafar Moti, chief executive of Zafar Moti Capital Securities.
Bangkok - The Thai stock market lost 2.7 per cent in value Wednesday on investor concerns over a government proposal to lower petrol prices by forcing refineries to take smaller profit margins.
The Stock Exchange of Thailand (SET) index ended at 832.99, down 22.61 points, or 2.7 per cent.
"The fall reflects concerns by investors that the government plans to force refineries to cut their profits margins in order to stabilize petrol prices for the public," said Mongkol Phuangpehtha, an analysts at Adkinson Securities.
The power exchange of The National Commodity & Derivatives Exchange (NCDEX) will shortly take the real form.
The regulator, Central Electricity Regulatory Commission (CERC) has cleared its plan to establish a power exchange.
The stock market functionaries anticipate bourse to go functional by the next four to five months, before technical issues are sorted out and rules are framed.
NCDEX submitted its proposal in 2007 to CERC for allowing setting up of the exchange, which is a joint venture (JV) between National Stock Exchange (NSE) and NCDEX.
Tokyo - Tokyo stocks opened lower Wednesday on economic uncertainties, despite the overnight rises in the US market.
The Nikkei 225 Stock Average fell 56.78 points in morning trading, or 0.41 per cent, to 13,836.53.
The broader Topix index of all first-section issues was also down 7 points, or 0.51 per cent, at 1,361.25.
On currency markets at 9 am (0000 GMT), the dollar was quoted at 104.22-27 yen, up from Tuesday's 5 pm quote of 103.85-88 yen.
Karachi - Pakistani stocks slid for a fourth trading session Tuesday, falling 1.7 per cent by midday on persistent weak political and economic sentiment as analysts' opinions differed on the future outlook.
The benchmark KSE-100 Index of the Karachi Stock Exchange was down 218 points at 12,366. It has fallen more than 1,500 points in the past four trading sessions.
Some analysts predicted the index might go as low as 11,000 while some said they believe the market would take an upward turn.
Tokyo - Tokyo stocks bounced back Tuesday as investors scooped up battered shares from the previous day's losses.
The Nikkei 225 Stock Average rose 112.43 points, or 0.82 per cent, to 13,802.62.
The broader Topix index of all first-section issues was also up 13.22 points, or 0.98 per cent, to 1,357.4.
Stocks fell more than 2 per cent in Tokyo Monday due to surging oil prices and the US market's fall before the weekend.
On currency markets at 9 am (0000 GMT), the dollar was quoted at 103.37-42 yen, up from Monday's 5 pm quote of 103.34-37 yen.
Hong Kong - Hong Kong shares fell 2.37 per cent Monday as markets around the region were hit by flagging confidence and fears of a prolonged economic slump.
The Hang Seng Index fell 586.76 points to close at 24,127.31. Turnover was 76.68 billion Hong Kong dollars (9.83 billion US dollars).
Regional losses have been sharpened by rising oil prices, which led to falls on Wall Street Friday after Asia's markets closed, analysts said.
Hong Kong's dollar is pegged to the US greenback, making it especially sensitive to US economic developments. (dpa)
Karachi - Pakistan stocks plunged by 4.5 per cent to an eight-month low on Monday, dropping 578 points by mid-day trading on mounting political uncertainties and weak economic outlook, analysts said.
The benchmark KSE-100 Index plunged for the second straight trading day, after also declining by 4.5 per cent on Friday, when it shed 615 points.
"There is an immense selling pressure in the market," said Zafar Moti, chief executive of Zafar Moti Securities.
Tokyo - Surging oil prices and Wall Street plunges before the weekend sent Japan's benchmark Nikkei 225 Stock Average down more than 2 per cent Monday.
The Nikkei index plunged 312.35 points, or 2.23 per cent, to 13,699.85.
The broader Topix index of all first-section issues also fell 28.53 points, or 2.07 per cent, to 1,348.16.
On currency markets at 9 am (0000 GMT), the dollar was quoted at 103.14-19 yen, down from Friday's 5 pm quote of 103.87-90 yen.
New York - US stocks retreated Friday, capping the worst week since February on new reports of falling housing prices and automaker Ford warning that energy costs were impacting sales.
The National Association of Realtors said existing home sales fell 1 per cent in March, sparking a sell-off of homebuilders.
Ford Motor Co, the second-largest US carmaker, blamed falling truck sales on the surging price of petrol in the United States.
Karachi - Pakistan stocks were dragged down on Friday to their lowest level since the beginning of the year on the central bank's interest rate hike and a cloud of political uncertainties and economic imbalances, analysts said.
The key KSE-100 Index of the Karachi Stock Exchange plunged by more than 4.7 per cent, losing 627 points by mid-day break at 12,979 points against Wednesday's close at 13,627 points.
The biggest loser was the financial sector, with the three largest banks of the country falling to their highest 5 per cent daily limits.
Tokyo - Tokyo stocks opened higher Friday on overnight rises in the US market and a weaker yen.
The Nikkei 225 Stock Average gained 102.5 points, or 0.73 per cent, to 14,080.96.
The broader Topix index of all first-section issues was also up 8.22 points, or 0.6 per cent, at 1,387.89.
On currency markets at 9 am (0000 GMT), the dollar was quoted at 104.02-07 yen, up from Thursday's 5 pm quote of 103.22-24 yen.
New York - US stocks rose Thursday after weekly unemployment claims fell unexpectedly and crude oil prices retreated from record highs.
Jobless claims fell 9,000 dollars last week, the government said. Crude oil reached a record 135 dollars per barrel early in the day but had retreated by closing in New York, helping retail stocks.
Stock market analyst Vishwas Agarwal said that 17,150 is the crucial support for BSE, and above 17,350 the market is likely to have strong trading action with leadership of Reliance Industries and State Bank of India.
Mr. Agarwal said, “On Wednesday we have seen lot of accumulation in quality midcap stocks as a result of value buying and the interest of retail investors, which is strong signal for coming days.”
He has recommended a few stocks for trading in today’s session. The different stock options include NIIT Technologies, Escort, Hind Oil Exploration, Satyam Computera and Unitech.
New Delhi - Indian share markets opened on a negative note Thursday and continued to trade in negative ground through the day, tracking global cues.
Bombay Stock Exchange's 30-share sensitive index Sensex was down by over 300 points on its previous close, dipping by 1.76 per cent at mid-day, while the broader
50-share Nifty of the National Stock Exchange was down by 1.71 per cent.
All sectoral indices were trading in the negative except for information technology.
The worst-hit were the banking, auto, capital goods, metal and realty sectors.
Tokyo - Tokyo stocks opened lower Thursday on Wall Street's overnight losses and a stronger yen.
The Nikkei 225 Stock Average lost 164.03 points, or 1.18 per cent, to 13,762.27.
The broader Topix index of all first-section issues was also down 12.21 points, or 0.89 per cent, at 1,357.88.
While soaring oil prices also prompted concerns over global inflation, investors dumped export-oriented issues due to a stronger yen.
Beirut - Shares in Lebanese real estate market heavyweight Solidere rose Wednesday shortly after Lebanon's political rivals announced a deal to end political deadlock in the country as well as the end of the sit-in led by the opposition Islamist group Hezbollah in downtown Beirut.
Solidere's A shares rose to 31 dollars and its B shares were up 12.04 per cent to 28.01 dollars.
Solidere, the country's largest company by market value, recently said it had agreed to jointly develop a 60-billion-dollar project on the coastline of Ajman, one of the United Arab Emirates. The real estate company is seeking to expand its portfolio.
Tokyo - Tokyo stocks opened lower Wednesday due to overnight losses on Wall Street and on the yen's gains against the dollar.
The Nikkei 225 Stock Average plunged 279.21 points, or 1.98 per cent, to 13,880.88.
The broader Topix index of all first-section issues was also down 34.58 points, or 2.47 per cent, at 1,365.26.
The US stocks slumped overnight as a rise in crude oil prices and a larger-than-expected increase in US producer prices prompted fears of inflation.
The blue-chip Dow Jones Industrial Average dropped 199.48 points, or 1.53 per cent, to 12,828.68. The broader Standard & Poor's 500 Index gained 13.23 points, or 0.93 per cent, to 1,413.40. The technology-heavy Nasdaq Composite Index lost 23.83 points, or .95 per cent, to 2,492.26.
The dollar bumped up to 63.79 euro cents from 63.76 Thursday and slipped against the Japanese currency to 103.18 yen from 103.20 yen. dpa