China stocks ended mixed, but posted their best weekly gain in more than two years.
Stocks and commodities recovered slightly as markets tried to consolidate from the previous session’s steep losses when fears of an escalation in the U.S.-China trade war jolted investor sentiment.
China’s shares tumbled in a broad sell-off, and the yuan weakened after the United States threatened further import duties on Chinese goods in a sharp escalation of the trade conflict between the world’s two biggest economies.
Chinese stocks, on track for their worst month in years, erased early losses but the yuan CNY=CFXS fell again as investors remained anxious about the economic outlook.
Amid fears over a full-blown trade war between the United States and China, Beijing has a more immediate worry - jitters in Chinese markets that could fuel anger at government policy.
Taking a cue from global markets, the key Indian equity market indices opened higher.
The Shanghai Composite Index dropped 2.1 percent Wednesday morning, its biggest drop since March 23.
Sensex snapped its four-session rising streak amid a broad downtrend in global equities on little hope of the US and China reaching a resolution on their trade dispute.
Chinese stocks opened mixed on Wednesday, with the benchmark Shanghai Composite Index up 0.02 per cent, at 3,393.97 points.
Chinese stocks opened lower on Tuesday, with the benchmark Shanghai Composite Index down 0.28 per cent to open at 3,381 points.
ICICI Lombard sells 17.7 Lk shares or 0.84% equity at Rs 270/sh
In pact with Reliance Nippon to sell Mutual Fund products
Nextgen Vakrangee Kendras to offer mutual fund distribution on pan India basis
Plans to sell part of se Asia biz as part of strategy to exit non scalable biz
To sell Singapore & Thailand units valuing them at $ 500Mn
Singapore & Thailand biz contributes 16% to revenues & 2% to EBITDA
To turn focus to domestic market
Avendus cap-KKR emerge as frontrunner to acquire IDFC MF
Offer of Rs 3,000-4,000 Cr made by FIN services firm