MOMENTUM : ONCE BOOK AND EXIT LONG IN SBIN 29MAY2025 AT 817, BOOK LOSS RS.750.
BUY BANKNIFTY OPTION 29MAY2025 55,700 PE ABV 1,100 TGT 1,700. SL BELOW 820 CMP: 1,100.
MOMENTUM : ONCE BOOK AND EXIT LONG IN TATACHEM 29MAY2025 AT 841.35, BOOK LOSS RS.907.5.
MOMENTUM MASTER: ONCE BOOK AND EXIT LONG IN MFSL 29MAY2025 AT 1,292, BOOK PROFIT RS.4,800.
MOMENTUM : ONCE BOOK AND EXIT LONG IN MFSL 29MAY2025 AT 1,292, BOOK PROFIT RS.4,800.
MOMENTUM : ONCE BOOK AND EXIT SHORT IN CROMPTON 29MAY2025 AT 334.50, BOOK LOSS RS. 900.
MOMENTUM : ONCE BOOK AND EXIT LONG IN SIEMENS 29MAY2025 AT 2,933, BOOK PROFIT RS.3,300
INTRA: SELL GOLDM 05JUN2025 BELOW 94,225 TGT 93,550. SL ABV 94,700 CMP: 94,225.
INTRAMETEN: ONCE BOOK AND EXIT SHORT IN GOLDM 05JUN2025 AT 94,480, BOOK LOSS RS. 2,550.
INTRAMETEN: ONCE BOOK AND EXIT SHORT IN COPPER 30MAY2025 AT 852.80, BOOK LOSS RS. 5,000.
METEN: ONCE BOOK AND EXIT SHORT IN SILVERM 30JUN2025 AT 97,400, BOOK PROFIT RS. 5,250.
OPTIONCOM: BUY GOLDM OPTION 27MAY2025 97,000 CE ABV 1,680 TGT 2,600. SL BELOW 1,200 CMP: 1,680.
INTRAMETEN: ONCE BOOK AND EXIT LONG IN COPPER 30MAY2025 AT 854, BOOK PROFIT RS.4,000
METEN: ONCE BOOK AND EXIT SHORT IN SILVERM 30JUN2025 AT 97,400, BOOK PROFIT RS. 5,250.
Securities in F&O Ban for Trade Dated 29-April-2025
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👉Open your Free #Demat & #Trading Account Today! Visit: https://bit.ly/3vMUIhb
👉Call or WhatsApp: 9830121215
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WHAT TO WATCH:
• India Concludes $7.4 Billion Deal With France to Buy Rafale Jets
• Pakistan Defence Minister Says Attack by India ‘Imminent’: Rtrs
• India, UK Spar Over Key Issues as Trade Pact Nears Finish Line
• India March Industrial Production Rises 3.0% Y/y, Est. +3.3%
• IndusInd Deputy CEO Khurana Resigns After Accounting Discrepancy
• BRICS Seeks to Fill Void Left by G-20 Amid Trump’s Trade War
• India in Talks With Airlines Over Pakistan Shutting Airspace
• Sebi Cuts Stock Margin Collection Time to Match Settlement Cycle
• RBI to Buy INR1.25T of Bonds in May Via OMO Purchases
• India’s Global Supply Chain Role Is Rising Fast: Economics Daily
• Zepto Offers 16% Yield to Investors in India Private Credit Deal
• Indian Stocks Rally on Boost from Reliance’s Strong Earnings
• Ambuja Cements to Report Results; Shares Up 2.6% YTD: Preview
• Bajaj Finance to Report Record Profit for 13th Quarter: Preview
• BPCL’s Weak Refining, Marketing Margins to Drag Profit: Preview
• Emerging Market ETFs Rebound From Losses, Rise $305.2 Mln
• Global Funds Buy Net 24.7B Rupees of Indian Stocks April 28: NSE
• Overseas Investors Buy Net INR50.4B of Indian Equities April 25
• Putin Declares 72-Hour Ukraine Truce to Mark WWII Victory (1)
• Israel Offers US Trade Concession in Effort to Avoid Tariff Pain
• Trump China Tariffs Set to Unleash Supply Jolt on US Economy (1)
• China Vows to Aid Exporters, Denies Being in Trade Talks With US
• Stocks Churn as Busy Earnings Week to Test Rally: Markets Wrap
BLOOMBERG INTELLIGENCE:
• INDIA INSIGHT: Rupee Likely to See Marginal Gains in Fiscal 2026
• Apple Making More iPhones in India Rational But Comes With Risks
MEDIA REPORTS:
• Mumbai-Ahmedabad bullet train project may get over by end-2028, says CM: PTI
• Pakistan Defence Minister Says Attack by India ‘Imminent’: Rtrs
EARNINGS (net income adj. ests. in INR where available):
• Ambuja Cements Ltd. (ACEM IN) 4Q 6.24b (11 analysts)
• Bajaj Finance Ltd. (BAF IN) 4Q 44.5b (15)
• Bajaj Finserv Ltd. (BJFIN IN) 4Q
• Bharat Petroleum Corp. (BPCL IN) 4Q 25.25b (6)
• Ceat Ltd. (CEAT IN) 4Q 1.09b (12)
• CIE Automotive India Ltd. (CIEINDIA IN) 1Q 1.86b (4)
• Five-Star Business Finance Ltd. (FIVESTAR IN) 4Q 2.73b (9)
• IndiaMart InterMesh Ltd. (INMART IN) 4Q 1.2b (11)
• NTPC Green Energy Ltd. (NTPCGREE IN) 4Q
• PCBL Chemical Ltd. (PCBL IN) 4Q 1.11b (7)
• Praj Industries Ltd. (PRJ IN) 4Q 695m (4)
• Punjab & Sind Bank (PJSB IN) 4Q
• Schaeffler India Ltd. (SCHFL IN) 4Q 2.45b (4)
• Shoppers Stop Ltd. (SHOP IN) 4Q
• Star Health & Allied Insurance (STARHEAL IN) 4Q 1.02b (11)
• Trent Ltd. (TRENT IN) 4Q 3.03b (13)
• UTI Asset Management Co. (UTIAM IN) 4Q 1.46b (10)
GOVERNMENT (All times India Time):
• 11am: New Delhi. Prime Minister Narendra Modi will participate in YUGM Conclave at Bharat Mandapam and address the gathering
BOND SALES/PURCHASES (All times India Time):
• RBI to conduct INR200b of Bonds purchase Via Open Market Operations
• Indian state governments to sell INR247B of bonds in auction: RBI
• RBI to hold INR750B of daily variable rate repo auctions under LAF
CORPORATE BONDS:
• Hero Housing Finance to Sell INR2.5b Two-Part Bond April 29
• PRICED: HPCL to Sell INR25b 5Y Bond at 6.73%
• LIC Housing Finance to Sell INR12.10b 5Y Bond at 7.07%
• Muthoot Finance Plans to Sell Up to INR10b 5Y Bond April 29
• Nexus Select Trust Plans to Sell Up to INR5.5b Bond April 29
• India Concludes $7.4 Billion Deal With France to Buy Rafale Jets
• Pakistan Defence Minister Says Attack by India ‘Imminent’: Rtrs
• India, UK Spar Over Key Issues as Trade Pact Nears Finish Line
• India March Industrial Production Rises 3.0% Y/y, Est. +3.3%
• IndusInd Deputy CEO Khurana Resigns After Accounting Discrepancy
• BRICS Seeks to Fill Void Left by G-20 Amid Trump’s Trade War
• India in Talks With Airlines Over Pakistan Shutting Airspace
• Sebi Cuts Stock Margin Collection Time to Match Settlement Cycle
• RBI to Buy INR1.25T of Bonds in May Via OMO Purchases
• India’s Global Supply Chain Role Is Rising Fast: Economics Daily
• Zepto Offers 16% Yield to Investors in India Private Credit Deal
• Indian Stocks Rally on Boost from Reliance’s Strong Earnings
• Ambuja Cements to Report Results; Shares Up 2.6% YTD: Preview
• Bajaj Finance to Report Record Profit for 13th Quarter: Preview
• BPCL’s Weak Refining, Marketing Margins to Drag Profit: Preview
• Emerging Market ETFs Rebound From Losses, Rise $305.2 Mln
• Global Funds Buy Net 24.7B Rupees of Indian Stocks April 28: NSE
• Overseas Investors Buy Net INR50.4B of Indian Equities April 25
• Putin Declares 72-Hour Ukraine Truce to Mark WWII Victory (1)
• Israel Offers US Trade Concession in Effort to Avoid Tariff Pain
• Trump China Tariffs Set to Unleash Supply Jolt on US Economy (1)
• China Vows to Aid Exporters, Denies Being in Trade Talks With US
• Stocks Churn as Busy Earnings Week to Test Rally: Markets Wrap
BLOOMBERG INTELLIGENCE:
• INDIA INSIGHT: Rupee Likely to See Marginal Gains in Fiscal 2026
• Apple Making More iPhones in India Rational But Comes With Risks
MEDIA REPORTS:
• Mumbai-Ahmedabad bullet train project may get over by end-2028, says CM: PTI
• Pakistan Defence Minister Says Attack by India ‘Imminent’: Rtrs
EARNINGS (net income adj. ests. in INR where available):
• Ambuja Cements Ltd. (ACEM IN) 4Q 6.24b (11 analysts)
• Bajaj Finance Ltd. (BAF IN) 4Q 44.5b (15)
• Bajaj Finserv Ltd. (BJFIN IN) 4Q
• Bharat Petroleum Corp. (BPCL IN) 4Q 25.25b (6)
• Ceat Ltd. (CEAT IN) 4Q 1.09b (12)
• CIE Automotive India Ltd. (CIEINDIA IN) 1Q 1.86b (4)
• Five-Star Business Finance Ltd. (FIVESTAR IN) 4Q 2.73b (9)
• IndiaMart InterMesh Ltd. (INMART IN) 4Q 1.2b (11)
• NTPC Green Energy Ltd. (NTPCGREE IN) 4Q
• PCBL Chemical Ltd. (PCBL IN) 4Q 1.11b (7)
• Praj Industries Ltd. (PRJ IN) 4Q 695m (4)
• Punjab & Sind Bank (PJSB IN) 4Q
• Schaeffler India Ltd. (SCHFL IN) 4Q 2.45b (4)
• Shoppers Stop Ltd. (SHOP IN) 4Q
• Star Health & Allied Insurance (STARHEAL IN) 4Q 1.02b (11)
• Trent Ltd. (TRENT IN) 4Q 3.03b (13)
• UTI Asset Management Co. (UTIAM IN) 4Q 1.46b (10)
GOVERNMENT (All times India Time):
• 11am: New Delhi. Prime Minister Narendra Modi will participate in YUGM Conclave at Bharat Mandapam and address the gathering
BOND SALES/PURCHASES (All times India Time):
• RBI to conduct INR200b of Bonds purchase Via Open Market Operations
• Indian state governments to sell INR247B of bonds in auction: RBI
• RBI to hold INR750B of daily variable rate repo auctions under LAF
CORPORATE BONDS:
• Hero Housing Finance to Sell INR2.5b Two-Part Bond April 29
• PRICED: HPCL to Sell INR25b 5Y Bond at 6.73%
• LIC Housing Finance to Sell INR12.10b 5Y Bond at 7.07%
• Muthoot Finance Plans to Sell Up to INR10b 5Y Bond April 29
• Nexus Select Trust Plans to Sell Up to INR5.5b Bond April 29
CORPORATE EVENTS:
• 9:15am; Mumbai. IMEC Summit 2025 Day 2. Speakers includes US Counsel General Mike Hankey, Israel Counsel General Kobbi Shoshani, MoS for Commerce & Industry Jitin Prasada
• 12:15pm: Castrol India hosts conference call to discuss on 1Q 2025 earnings
• 2pm: New Delhi. Javed Akhtar, Creator and IPRS Chairman to address inaugural of FICCI’s IP and Music: Feel the beat of IP
• 2pm: ACC hosts conference call to discuss on 4Q FY25 earnings
• 2pm: Ambuja Cements conference call on 4Q FY25 earnings
• 3:45pm: CPR-CSH Workshop on ‘Safe Travels: Transport Development and Women’s Safety in India’
• 5pm: PCBL Chemical conference call on 4Q FY25 earnings
• 6:30pm: Bajaj Finance hosts conference call on 4Q FY25 results
• NTPC Green Energy to mull raising funds upto INR50B in FY26 via NCDs issue
• Other Shareholder Events: NTR IN
• Earnings Calls: AWL IN, EMBASSY IN, FEDFINA IN, FINOPB IN, GANESHIN IN, HEXT IN, HSCH IN, IIFLCAPS IN, INDGN IN, INMART IN, JSFB IN, KFINTECH IN, MTLM IN, PCBL IN, RPGL IN, SNGI IN
OFFERINGS:
• TPG Rise Climate Sf. Pte Offers 15.86M Tata Tech Shares: Terms
• Ather Energy $308M India IPO gets 0.16x shares demand on first day of sale, offer closes Dec. 24
• Urban Company Files for $223 Million India IPO
ANALYST ACTIONS:
• Cholamandalam Inv Cut to Hold at Asian Markets; PT 1,550 rupees
o Cut to Hold at IDBI Capital Market
• Elecon Engineering Raised to Buy at Asian Markets; PT 682 rupees
• Orient Elec Cut to Hold at ICICI Securities; PT 235 rupees
• RBL Bank Raised to Buy at Avendus Spark; PT 239 rupees
• PRICED: India’s REC to Sell INR50b Two-Part Bond on April 30
• Reliance Cut to Accumulate at Prabhudas Lilladher
• Shriram Finance Cut to Add at YES Research; PT 735 rupees
o Cut to Add at Avendus Spark; PT 695 rupees
o Cut to Reduce at Equirus Securities Pvt Ltd
• Zensar Tech Raised to Buy at IDBI Capital Market; PT 810 rupees
MARKETS (As of 8:51 p.m. India Time):
• S&P 500 little changed at 5,523.38
• STOXX Europe 600 up 0.7% at 524.09
• MSCI Asia Pacific Index up 0.4% at 183.08
• Gold spot up 0.4% at $3,333.33/Oz
• Brent futures down 1.8% at $65.67/bbl
• Sensex up 1.3% at 80,218.37
• Nifty up 1.2% at 24,328.5
• GIFT Nifty May futures up 0.7% at 24,389.5
• INR up 0.5% at 85.0338 per USD
• Yield on 6.79% bonds maturing Oct. 7, 2034 up 3 bps to 6.40%
• Rupee Climbs to Four-Month High on Stock Inflows: Inside India
EQUITY PREVIEW:
• Adani Total (ATGL): 4Q Net Income 1.55B Rupees Vs. 1.68B Rupees Y/y
• Aurobindo Pharma (ARBP): Says fire occurred near Kakinada facility, damaged some ancillary equipment; plant operations paused for 20-25 days
• AWL Agri Business (AWL): 4Q Net Income Misses Estimates
• Castrol India (CSTRL): 1Q Net Income +8.1% Y/y to 2.33b, revenue +7% to 14.2b
• Central Bank of India (CBOI): 4Q Net Income +28% Y/y to 10.3B Rupees (1)
• CSB Bank (CSBBANK): 4Q Net Income 1.9B Rupees Vs. 1.51B Rupees Y/y (1)
• Diamond Power Infra (DIACABS): Gets LoI for INR1.51b order from Rajesh Powere and got LoI for INR792.8m from Adani Electricity
• Firstsource Solutions (FSOL): 4Q Net Income Misses Estimates
• Gensol Engineering (GENSOL): Says India Probe Agency Searched Premises
• H.G. Infra (HGINFRA): Gets provisional certificate for INR11.23b of Project in the Odisha
• HRH Next Services (HRHNEXT): Signs 2-year pact with Dhanuka Agritech for providing Call Center services
• IDBI Bank (IDBI): 4Q Net Income 20.5B Rupees Vs. 16.3B Rupees Y/y
• Oberoi Realty (OBER): 4Q Net Income Misses Estimates
• PNB Housing (PNBHOUSI): 4Q Net Income 5.67B Rupees Vs. 4.44B Rupees Y/y (1)
• TVS Motor Co. (TVSL): 4Q Net Income +76% Y/y to 8.52b rupees, Beats Est. 7.31b
• UCO Bank (UCO): 4Q Net Income 6.52B Rupees Vs. 5.26B Rupees Y/y (1)
• UltraTech Cement (UTCEM): 4Q Net Income +10% Y/y to 24.8b rupees, Misses Est. 25.4b
• Vimta Labs (VL): Approve issue of one free shares for each held
• Wipro (WPRO): Says Vorwerk selected Wipro to manage & transform IT Ecosystem
Source: Bloomberg
• 9:15am; Mumbai. IMEC Summit 2025 Day 2. Speakers includes US Counsel General Mike Hankey, Israel Counsel General Kobbi Shoshani, MoS for Commerce & Industry Jitin Prasada
• 12:15pm: Castrol India hosts conference call to discuss on 1Q 2025 earnings
• 2pm: New Delhi. Javed Akhtar, Creator and IPRS Chairman to address inaugural of FICCI’s IP and Music: Feel the beat of IP
• 2pm: ACC hosts conference call to discuss on 4Q FY25 earnings
• 2pm: Ambuja Cements conference call on 4Q FY25 earnings
• 3:45pm: CPR-CSH Workshop on ‘Safe Travels: Transport Development and Women’s Safety in India’
• 5pm: PCBL Chemical conference call on 4Q FY25 earnings
• 6:30pm: Bajaj Finance hosts conference call on 4Q FY25 results
• NTPC Green Energy to mull raising funds upto INR50B in FY26 via NCDs issue
• Other Shareholder Events: NTR IN
• Earnings Calls: AWL IN, EMBASSY IN, FEDFINA IN, FINOPB IN, GANESHIN IN, HEXT IN, HSCH IN, IIFLCAPS IN, INDGN IN, INMART IN, JSFB IN, KFINTECH IN, MTLM IN, PCBL IN, RPGL IN, SNGI IN
OFFERINGS:
• TPG Rise Climate Sf. Pte Offers 15.86M Tata Tech Shares: Terms
• Ather Energy $308M India IPO gets 0.16x shares demand on first day of sale, offer closes Dec. 24
• Urban Company Files for $223 Million India IPO
ANALYST ACTIONS:
• Cholamandalam Inv Cut to Hold at Asian Markets; PT 1,550 rupees
o Cut to Hold at IDBI Capital Market
• Elecon Engineering Raised to Buy at Asian Markets; PT 682 rupees
• Orient Elec Cut to Hold at ICICI Securities; PT 235 rupees
• RBL Bank Raised to Buy at Avendus Spark; PT 239 rupees
• PRICED: India’s REC to Sell INR50b Two-Part Bond on April 30
• Reliance Cut to Accumulate at Prabhudas Lilladher
• Shriram Finance Cut to Add at YES Research; PT 735 rupees
o Cut to Add at Avendus Spark; PT 695 rupees
o Cut to Reduce at Equirus Securities Pvt Ltd
• Zensar Tech Raised to Buy at IDBI Capital Market; PT 810 rupees
MARKETS (As of 8:51 p.m. India Time):
• S&P 500 little changed at 5,523.38
• STOXX Europe 600 up 0.7% at 524.09
• MSCI Asia Pacific Index up 0.4% at 183.08
• Gold spot up 0.4% at $3,333.33/Oz
• Brent futures down 1.8% at $65.67/bbl
• Sensex up 1.3% at 80,218.37
• Nifty up 1.2% at 24,328.5
• GIFT Nifty May futures up 0.7% at 24,389.5
• INR up 0.5% at 85.0338 per USD
• Yield on 6.79% bonds maturing Oct. 7, 2034 up 3 bps to 6.40%
• Rupee Climbs to Four-Month High on Stock Inflows: Inside India
EQUITY PREVIEW:
• Adani Total (ATGL): 4Q Net Income 1.55B Rupees Vs. 1.68B Rupees Y/y
• Aurobindo Pharma (ARBP): Says fire occurred near Kakinada facility, damaged some ancillary equipment; plant operations paused for 20-25 days
• AWL Agri Business (AWL): 4Q Net Income Misses Estimates
• Castrol India (CSTRL): 1Q Net Income +8.1% Y/y to 2.33b, revenue +7% to 14.2b
• Central Bank of India (CBOI): 4Q Net Income +28% Y/y to 10.3B Rupees (1)
• CSB Bank (CSBBANK): 4Q Net Income 1.9B Rupees Vs. 1.51B Rupees Y/y (1)
• Diamond Power Infra (DIACABS): Gets LoI for INR1.51b order from Rajesh Powere and got LoI for INR792.8m from Adani Electricity
• Firstsource Solutions (FSOL): 4Q Net Income Misses Estimates
• Gensol Engineering (GENSOL): Says India Probe Agency Searched Premises
• H.G. Infra (HGINFRA): Gets provisional certificate for INR11.23b of Project in the Odisha
• HRH Next Services (HRHNEXT): Signs 2-year pact with Dhanuka Agritech for providing Call Center services
• IDBI Bank (IDBI): 4Q Net Income 20.5B Rupees Vs. 16.3B Rupees Y/y
• Oberoi Realty (OBER): 4Q Net Income Misses Estimates
• PNB Housing (PNBHOUSI): 4Q Net Income 5.67B Rupees Vs. 4.44B Rupees Y/y (1)
• TVS Motor Co. (TVSL): 4Q Net Income +76% Y/y to 8.52b rupees, Beats Est. 7.31b
• UCO Bank (UCO): 4Q Net Income 6.52B Rupees Vs. 5.26B Rupees Y/y (1)
• UltraTech Cement (UTCEM): 4Q Net Income +10% Y/y to 24.8b rupees, Misses Est. 25.4b
• Vimta Labs (VL): Approve issue of one free shares for each held
• Wipro (WPRO): Says Vorwerk selected Wipro to manage & transform IT Ecosystem
Source: Bloomberg
Global News, Views, and Updates
Asian Stocks Edge Up Before Barrage of Earnings
Asian stocks posted a slight gain as investors awaited a slew of corporate earnings and economic data this week that will give an early indication of the impacts from President Donald Trump’s tariff war. A regional index rose 0.2%, following advances in Hong Kong and Australia. Futures for the S&P 500 swung between small gains and losses. The dollar steadied and gold dropped as much as 0.6%. There’s no trading of cash Treasuries in Asia as Tokyo is closed for a public holiday, and they will open at the start of the European session. The five-day rally in US stocks, the longest advance since November, faces a significant test this week amid US data from jobs to inflation and economic growth, as well as earnings from some of the biggest technology companies. Some calmness has returned to financial markets in the past week after the Trump administration’s trade policies sparked volatile trading in stocks and bonds and prompted traders to sell American assets, including the dollar.
Woodside Gives Final Nod for $17.5 Billion US LNG Project
Woodside Energy Group Ltd. made a final investment decision on a $17.5 billion liquefied natural gas export project in the US, cementing the Australian company’s position as a top supplier. The approval clears construction of the Louisiana LNG plant, which is targeting its first shipment in 2029, Woodside said Tuesday. The development will see the company operating more than 5% of global supply in the 2030s, it said. The project is the single largest direct foreign investment in Louisiana’s history, according to Woodside, a move that will likely please President Donald Trump, who imposed, and then delayed, widespread tariffs on many countries this month. Trump has called on countries to buy more American energy, and the Louisiana project will further cement the US as the world’s biggest LNG supplier. Louisiana LNG is also a key part of Perth-based Woodside’s plans to expand away from its plants in Australia, which mainly supply Asian customers. Woodside shares rose as much as 1% in early trading on Tuesday, after advancing 1.7% on Monday. They are down about 17% this year.
Oil Holds Decline with US Economic Outlook, Iran Talks in Focus
Oil steadied after a drop, with signs of strain in the US economy amid the brewing trade war and talks with Iran on its nuclear program in focus. Brent was below $66 a barrel after a 1.5% decline on Monday, with West Texas Intermediate near $62. A widely-referenced gauge of US manufacturing activity weakened significantly, adding to signs of the drag from President Donald Trump’s tariffs. A slew of data due this week will shed further light on conditions.
Trump to Offer Auto Tariffs Reprieve After Carmaker Appeals
• President Trump is expected to ease auto tariffs, lifting some levies on foreign parts for cars and trucks made in the US and giving imported autos a reprieve from separate tariffs on aluminum and steel.
• The changes would allow automakers to secure partial reimbursement for tariffs on imported auto parts based on the value of their US car production, with reimbursements declining over time to encourage supply chain shifts to the US.
• The move is seen as a victory for Trump's trade policy, with industry leaders welcoming the decision and saying it will help mitigate the impact of tariffs on automakers, suppliers, and consumers.
Source: Bloomberg
Asian Stocks Edge Up Before Barrage of Earnings
Asian stocks posted a slight gain as investors awaited a slew of corporate earnings and economic data this week that will give an early indication of the impacts from President Donald Trump’s tariff war. A regional index rose 0.2%, following advances in Hong Kong and Australia. Futures for the S&P 500 swung between small gains and losses. The dollar steadied and gold dropped as much as 0.6%. There’s no trading of cash Treasuries in Asia as Tokyo is closed for a public holiday, and they will open at the start of the European session. The five-day rally in US stocks, the longest advance since November, faces a significant test this week amid US data from jobs to inflation and economic growth, as well as earnings from some of the biggest technology companies. Some calmness has returned to financial markets in the past week after the Trump administration’s trade policies sparked volatile trading in stocks and bonds and prompted traders to sell American assets, including the dollar.
Woodside Gives Final Nod for $17.5 Billion US LNG Project
Woodside Energy Group Ltd. made a final investment decision on a $17.5 billion liquefied natural gas export project in the US, cementing the Australian company’s position as a top supplier. The approval clears construction of the Louisiana LNG plant, which is targeting its first shipment in 2029, Woodside said Tuesday. The development will see the company operating more than 5% of global supply in the 2030s, it said. The project is the single largest direct foreign investment in Louisiana’s history, according to Woodside, a move that will likely please President Donald Trump, who imposed, and then delayed, widespread tariffs on many countries this month. Trump has called on countries to buy more American energy, and the Louisiana project will further cement the US as the world’s biggest LNG supplier. Louisiana LNG is also a key part of Perth-based Woodside’s plans to expand away from its plants in Australia, which mainly supply Asian customers. Woodside shares rose as much as 1% in early trading on Tuesday, after advancing 1.7% on Monday. They are down about 17% this year.
Oil Holds Decline with US Economic Outlook, Iran Talks in Focus
Oil steadied after a drop, with signs of strain in the US economy amid the brewing trade war and talks with Iran on its nuclear program in focus. Brent was below $66 a barrel after a 1.5% decline on Monday, with West Texas Intermediate near $62. A widely-referenced gauge of US manufacturing activity weakened significantly, adding to signs of the drag from President Donald Trump’s tariffs. A slew of data due this week will shed further light on conditions.
Trump to Offer Auto Tariffs Reprieve After Carmaker Appeals
• President Trump is expected to ease auto tariffs, lifting some levies on foreign parts for cars and trucks made in the US and giving imported autos a reprieve from separate tariffs on aluminum and steel.
• The changes would allow automakers to secure partial reimbursement for tariffs on imported auto parts based on the value of their US car production, with reimbursements declining over time to encourage supply chain shifts to the US.
• The move is seen as a victory for Trump's trade policy, with industry leaders welcoming the decision and saying it will help mitigate the impact of tariffs on automakers, suppliers, and consumers.
Source: Bloomberg