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☆ Goldman Sachs refreshed its conviction lists of global stocks — giving one 63% upside
▼ + stars: | 2024-06-20 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

Goldman Sachs refreshed its lists of top global stock picks for June by adding some and removing others. The stocks are captured in the investment bank's "Conviction List - Directors' Cut" and seeks to offer investors a "curated and active" list of 15 to 25 buy-rated stocks. The stocks are selected by a group designated by the bank's Investment Review Committee for each region. Here are three of the latest additions to Goldman's directors' cut lists — for Asia-Pacific and Europe — that were given more than 40% upside potential in the next 12 months. Goldman has a target price of 685 New Taiwan dollars ($21.16) on the stock, implying 54.1% potential upside.

Persons: Goldman Sachs, Goldman, Chao Wang, Oil Goldman, Nikhil Bhandari, Phillips, Daniela Costa, CNBC's Michael Bloom Organizations: bank's Investment, EMC, Taiwan Stock Exchange, SmartETFs Asia, New, Oil, Project, bbl, PTT Public Company, Stock Exchange of, Nasdaq, Philips, Euronext Locations: Asia, Pacific, Europe, New Taiwan, Thailand's, Stock Exchange of Thailand, Dutch, Euronext Amsterdam

☆ India wants to be a developed nation by 2047. Here are 4 critical areas Modi can't ignore
▼ + stars: | 2024-06-20 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +7 min

India has undergone a massive infrastructure push and has made significant strides in connecting and modernizing its highways, railways and airports. He's going to double down on that," said Samir Kapadia, CEO of India Index and managing principal at Vogel Group. "Along with creating physical infrastructure, India needs to remain steadfast on the structural reforms ... Increase foreign investmentsFrom veteran emerging markets investor Mark Mobius to global strategist David Roche, market experts remain bullish on India. Foreign direct investments into the country needs to however pick up pace to further drive economic growth and development, analysts told CNBC.

Persons: Vikram Singh, Narendra Modi, Modi, Reema Bhattacharya, Verisk, Modi's, he's, Samir Kapadia, Nirmala Sitharaman, Santanu Sengupta, Goldman Sachs, Sengupta, Richard Rossow, Kapadia, Sumedha Gupta, Vivek Prasad, Prasad, Mark Mobius, David Roche Organizations: Bharatiya Janata Party, BJP, Infrastructure, India Index, Vogel Group, Nurphoto, CNBC, Center for Strategic, International Studies, Padget Electronics, Dixon Technologies, Bloomberg, Getty, Research, India Electronics, Semiconductor Association, Economist Intelligence Unit, Centre, Monitoring, National Stock Exchange of, World Federation of Exchanges Locations: India, Asia, China, Mumbai, Noida, PwC India, National Stock Exchange of India

☆ Indian stocks have worst day in 4 years as Modi’s hopes of a huge majority fade
▼ + stars: | 2024-06-04 | by ( Diksha Madhok | ) edition.cnn.com time to read: +3 min

New Delhi CNN —Indian stocks plunged Tuesday as vote counting in the country’s election suggested Prime Minister Narendra Modi’s dream of a landslide victory is at risk, raising doubts about his ability to push through more aggressive economic reforms. India’s benchmark Sensex index, which tracks 30 large companies, and the broader Nifty 50 index each closed down by nearly 6%. The worst daily drop for Indian stocks since 2020 came just 24 hours after both indexes hit record highs as weekend exit polls prompted experts to predict a resounding victory for Modi. The 73-year-old ran on his economic record over the past 10 years, a period of robust growth for India. But investors have complained about the high price of Indian stocks and some analysts believe a correction could be healthy for markets.

Persons: Narendra Modi’s, Modi, India’s, ”, Yashovardhan Khemka, Manish Jain Organizations: New, New Delhi CNN, Bharatiya Janata Party, BJP, Research, Analytics, Abans Holdings, National Stock Exchange of India, Shenzhen Stock Exchange, Hong Kong Exchange, bourse, World Federation of Exchanges, Mirae Locations: New Delhi, India, Mumbai, United States, China

☆ Sensex, Nifty 50: Indian stocks hit record highs as markets hope for a big Modi election win
▼ + stars: | 2024-06-03 | by ( Diksha Madhok | ) edition.cnn.com time to read: +3 min

New Delhi CNN —Indian markets hit record highs on Monday as experts predicted a resounding victory for incumbent Prime Minister Narendra Modi in national elections. India’s benchmark Sensex index, which tracks 30 large companies, and the broader Nifty 50 index each jumped over 3% in early trade. The 73-year-old ran on his economic record over the past 10 years, a period of robust growth for India. “With the exit polls pointing towards 370 seats mark and ahead of street expectations of 320-350 seats, markets have reacted positively,” said Manish Chowdhury, head of research at brokerage StoxBox. The country’s stock markets have performed well during his tenure.

Persons: Narendra Modi, ” Modi, India’s, ”, Manish Chowdhury, Modi, Adani, Gautam Adani, Mukesh Ambani, Ambani, Hindenburg’s Organizations: New, New Delhi CNN, Adani, Adani Enterprises, Reliance Industries, Bloomberg, Modi, Hindenburg, National Stock Exchange of India, Shenzhen Stock Exchange, Hong Kong Exchange, bourse, World Federation of Exchanges Locations: New Delhi, India, United States, China, American

☆ Asia's first spot bitcoin and ether ETFs debut in Hong Kong
▼ + stars: | 2024-04-30 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +3 min

Dado Ruvic | ReutersHong Kong on Tuesday launched six spot bitcoin and ether exchange traded funds — becoming the first in Asia to offer retail investors the ability to trade the cryptocurrencies at spot prices. The cryptocurrency ETFs were issued by three Chinese firms — China Asset Management, Bosera Asset Management, and Harvest Global Investments — on the Hong Kong exchange. Spot bitcoin ETFs by ChinaAMC, Bosera HashKey and Harvest were above 3% higher in early trading, but subsequently gave up some gains to trade by about 1.5% higher. The three ether ETFs were trading above 1% in the morning, but fell into negative territory by the late afternoon. The spot crypto ETFs had received regulatory approval under the provision of virtual asset management services, but crypto futures ETFs have been trading on the HKEX since late 2022.

Persons: Dado Ruvic, Bosera, Bitcoin, Antoni Trenchev, Nexo, Trenchev, Han Organizations: Reuters, Tuesday, China Asset Management, Bosera Asset Management, Harvest Global, Hong, Hong Kong's Securities, Futures Commission, ChinaAMC, U.S . Securities, Exchange Commission, CNBC, Stock Exchange of Hong, ., Harvest Global Investments Locations: Reuters Hong Kong, Asia, China, Hong Kong, U.S, Singapore, Dubai, Japan, South Korea, Stock Exchange of Hong Kong

☆ India’s economy and elections: Is the hype around Narendra Modi’s vision justified?
▼ + stars: | 2024-04-16 | by ( Diksha Madhok | Rachel Wilson | ) edition.cnn.com time to read: +9 min

New Delhi/London CNN —In just a few days, India will commence the world’s largest democratic election. So, is the hype around Modi’s India, which remains a largely impoverished country, justified? The world’s largest biometric database has also helped the government save millions by reducing corruption in welfare initiatives. Domestic investors, both retail and institutional, have been driving India’s stock market to unprecedented peaks. Still, India’s economy, much like its democracy, is far from perfect.

Persons: Narendra Modi, Indranil Mukherjee, Modi, Himanshu Sharma, Guido Cozzi, Arun Sankar, Billionaire Elon Musk Organizations: London CNN —, Getty, CNN, World, University of St, Unified, Bank, ”, National Stock Exchange of India, bourse, Bombay Stock Exchange, NSE, Shenzhen Stock Exchange, Hong Kong Exchange, World Federation of Exchanges, Macquarie Capital, Apple, Foxconn, Billionaire, International Labour Organization Locations: New Delhi, London, India, China, Beijing, Ajmer, Rajasthan, University of St Gallen, Switzerland, Asia’s, Washington, Sriperumbudur, Chennai, Mumbai's Churchgate, AFP

☆ China and Hong Kong stocks lost nearly $5 trillion in 3 years — more than India's market cap
▼ + stars: | 2024-04-03 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

Stocks in China and Hong Kong sold off a massive $4.8 trillion in market capitalization since 2021, which according to HSBC, is more than the value of the Indian stock market. The statistic does not bode well for either China or Hong Kong, especially when the National Stock Exchange of India has only grown during the same period. The NSE overtook Hong Kong Stock Exchanges and Clearing to become the fourth largest in the world in January, according to data from the World Federation of Exchanges, and is worth $4.63 trillion, making it the third largest in Asia. This is indicative of how much traction Indian stocks have gained in the last few years, in contrast to declines in both China and Hong Kong. Hong Kong's Hang Seng index performed even worse, with 2023 as its fourth consecutive decline ending the year 13.8% lower.

Persons: bode Organizations: Bombay Stock Exchange, HSBC, National Stock Exchange of, Hong Kong Stock Exchanges, World Federation of Exchanges, Hong Kong . Mainland China's CSI Locations: MUMBAI, MAHARASHTRA, INDIA, Bombay, Mumbai, Stocks, China, Hong Kong, National Stock Exchange of India, Asia, Hong Kong . Mainland

☆ Hong Kong scraps decade-old property restrictions to boost flagging economy
▼ + stars: | 2024-02-28 | by ( Laura He | ) edition.cnn.com time to read: +3 min

These taxes had been introduced as early as 2010 to cool the city’s once red-hot property market, a pillar of the economy. Real estate and related industries play a key role in Hong Kong’s economy, accounting for as much as a fifth of the city’s gross domestic product (GDP). Hong Kong’s economy has struggled to regain momentum since it reopened after more than two years of self-imposed Covid isolation. Hong Kong’s stock market, where many of China’s largest and most important companies are listed, has become less popular with international investors. Late last year, the city’s stock exchange was overtaken by the National Stock Exchange of India (NSE) as the world’s seven largest bourse.

Persons: Paul Chan, “, ” Chan, Chan Organizations: Hong Kong CNN, Hong Kong, National Stock Exchange of India, bourse Locations: China, Hong Kong, Hong Kong’s, Victoria Harbour, Hong, Beijing, Washington, Asia

Regulators have so far not mandated any minimum net worth or investor qualifications for those trading stock options, and the stock markets almost always rise each year - both recipes for higher risk-taking and complacency. The "stark" increase in daily options trading turnover raises issues of investor protection, said Ajay Tyagi, former SEBI chief. The platform has seen an uptick in futures and options trading activity, Zerodha said in response to Reuters queries. Siddharth Joshi, a 36-year old from Surat in western India, said he lost 200,000 rupees trading options on Adani Enterprises (ADEL.NS) shares in January. "In options trading, I know my loss is capped but there is an opportunity to make maximum profit," he said.

Persons: Francis Mascarenhas, Mihir Vora, SEBI, Ashish Chauhan, Ajay Tyagi, Kailash, Bhavesh Shah, Shah, Zerodha, Siddharth Joshi, he's, Ira Dugal, Vidya Ranganathan, Raju Gopalakrishnan Organizations: Bombay Stock Exchange, REUTERS, Rights, Securities, Exchange Board of India, Trust Mutual Fund, National Stock Exchange of India Ltd, BSE Ltd, Reuters, Axis Mutual Fund, National Stock Exchange, Adani Enterprises, Thomson Locations: Mumbai, India, Rights MUMBAI, South Korea, Bhavesh, Ahmedabad, Surat

☆ Stock Exchange of Thailand's president discusses IPOs in the pipeline
▼ + stars: | 2023-08-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStock Exchange of Thailand's president discusses IPOs in the pipelinePakorn Peetathawatchai, president of the Stock Exchange of Thailand, says there are 46 initial public offerings in the works.

Organizations: Email Stock, Stock Exchange of Locations: Stock Exchange of Thailand

☆ Johnson & Johnson to reduce its Kenvue stake by at least 80% through exchange offer
▼ + stars: | 2023-07-24 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Johnson & Johnson on Monday said it plans to reduce by at least 80% its stake in Kenvue, the consumer health business it spun out as an independent company earlier this year, via a stock exchange offer. J&J owns 89.6% of Kenvue's common stock, which amounts to more than 1.72 billion shares. The exchange offer, also known as a split-off, will allow J&J shareholders to swap all or a portion of their shares for Kenvue's common stock at a 7% discount. J&J first announced its intent to launch an exchange offer in its second-quarter earnings report on Thursday, but the company provided few details on the plan. When asked about J&J's planned exchange offer on Thursday, Kenvue CEO Thibaut Mongon told CNBC's "Squawk on the Street" that the company is "pleased with the way that the IPO has been received by shareholders."

Persons: Johnson, J, Joaquin Duato, Duato, Kenvue, J's, Thibaut Mongon, CNBC's Organizations: J Locations: Kenvue

☆ Fact Check-Video shows crowd breaking into a shopping mall, not the stock exchange of Marseille
▼ + stars: | 2023-07-04 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

A video of people breaking into Centre Commercial Bourse, a shopping mall in Marseille, has been misinterpreted by people online as the French stock exchange. “Rioters are trying to storm the Central Stock Exchange of Marseille, France” read posts on Twitter and Facebook (here), (here) and (here). The French word Bourse does translate to “stock exchange” in English. The Centre Commercial Bourse, however, is a shopping mall in Marseille (www.klepierre.com/en/our-malls). The Centre Commercial Bourse in Marseille, France, is a shopping mall.

Persons: France ”, Nahel, Read Organizations: Commercial Bourse, Central Stock Exchange of, Twitter, Facebook, Reuters, Bourse Locations: Marseille, Central Stock Exchange of Marseille, France, Provence, Nanterre

☆ India NSE's IPO plan stumbles at market watchdog's door - sources
▼ + stars: | 2023-04-11 | by ( Jayshree P Upadhyay | ) www.reuters.com time to read: +3 min

The Securities and Exchange Board of India (SEBI) has formed an internal view that due to the pending cases it won't approve NSE's application made last year for an IPO, the sources said. “Till the legal and regulatory issues are cleared there is no chance that SEBI will approve NSE's IPO plans,” said one of the sources, who is a senior regulatory official. A delayed NSE IPO will test the patience of its core shareholders - banks, insurance companies and foreign funds - who have been waiting for an exit opportunity in rising markets. The regulator's reluctance to approve NSE's IPO has not been previously reported. These include whether certain brokers made unfair gains due to preferential access to NSE’s trading systems and another lapse in NSE’s trading architecture, the source said.

☆ Indian tycoon Gautam Adani dismisses market volatility as 'temporary'
▼ + stars: | 2023-02-15 | by ( Sumathi Bala | ) www.cnbc.com time to read: +3 min

Art school teacher Sagar Kambli gives final touches to a painting of Indian businessman Gautam Adani (L) highlighting the ongoing crisis of the Adani group in Mumbai on February 3, 2023. Indranil Mukherjee | Afp | Getty ImagesIndian billionaire Gautam Adani has downplayed the recent market volatility of Adani Group's shares as "temporary." The Adani Group has denied those accusations, and said it was a "calculated attack on India." Adani flagship earningsOn Tuesday, Adani Enterprises reported a profit after tax of nearly $100 million for the October to December quarter. Shares of Adani Enterprises last traded about 3% higher Wednesday on National Stock Exchange of India.

☆ Some Adani shares climb, after group's market losses top $110 bln
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of the Adani Group is seen on the facade of one of its buildings on the outskirts of Ahmedabad, India, April 13, 2021. REUTERS/Amit DaveBENGALURU, Feb 7 (Reuters) - Shares of some listed Adani group companies, including its flagship, rose in early trade on Tuesday while others fell further as the reverberations from a U.S. short-seller's critical report on the Indian conglomerate continued to be felt. Adani group's seven listed companies have lost $110 billion in cumulative stock market value since Hindenburg Research's report was released on Jan. 24. Shares of Adani Green Energy, Adani Total Gas Ltd (ADAG.NS), Adani Power (ADAN.NS) were down 5%, while Adani Transmission rose 3.5%. The group's flagship company, Adani Enterprises Ltd (ADEL.NS), was up 9.5% and Adani Wilmar (ADAW.NS) gained 5%.

☆ Adani rout deepens despite soothing words from India's government and billionaires
▼ + stars: | 2023-02-06 | by ( Jihye Lee | ) www.cnbc.com time to read: +4 min

Indranil Mukherjee | Afp | Getty ImagesShares of most Adani Group companies fell further on Monday, continuing to drop as a feud between the conglomerate and short-seller firm Hindenburg deepened. Adani Green Energy , Adani Power and Adani Total Gas fell 5% each. The Sensex is the benchmark index of the BSE — formerly the Bombay Stock Exchange — and the Nifty 50 is the flagship index of the National Stock Exchange of India. Gautam Adani, chairman of Adani Group, speaks during the Forbes CEO Summit in Singapore, on Tuesday, Sept. 27, 2022. Adani Power is included on the long-term list, while Adani Enterprises, Adani Green Energy, Adani Ports and Special Economic Zone, Adani Transmission and Adani Total Gas are on the short-term list.

☆ India's NSE lowers price band on two Adani firms
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: 1 min

Feb 6 (Reuters) - Indian bourse National Stock Exchange of India (NSE) has revised the circuit limits of Adani Green Energy Ltd (ADNA.NS) and Adani Transmission Ltd (ADAI.NS) to 5%, according to data on its website on Monday. The NSE had revised the price bands of both companies to 10% from 20% last week. Stock exchanges set the circuit limits to prevent large movements in the price of stocks in a very short time. Reporting by Anirudh Saligrama in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ New York Stock Exchange blames ‘manual error’ for trading glitch
▼ + stars: | 2023-01-25 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +2 min

New York CNN —New York Stock Exchange officials said Wednesday that a “manual error” was responsible for the massive price swings and trading halt of hundreds of company stocks that punctuated Tuesday’s market open. The root cause of the error, which the exchange said has been resolved, was an error tied to the company’s “disaster recovery” configuration, they said. In total, more than 1,300 trades and 84 stocks were impacted by the error and marked as abnormal, according to NYSE. The exchange compiles these buy and sell orders and formats a single price that is then quoted at market open. The price is meant to balance out supply and demand for the stock and limit volatility in early trading.

☆ Fuji Soft proxy fight the latest test of Japan Inc board independence
▼ + stars: | 2022-12-04 | by ( Makiko Yamazaki | ) www.reuters.com time to read: +4 min

Three battles in recent months have questioned how independent from management Japan's outside board members really are after nearly a decade of governance reform has sharply increased the number of independent directors. Governance experts say outside directors are only nominally independent if they have close ties to management or fail to give proper oversight. 3D, which owns more than 20% of Fuji Soft, has nominated four additional members for the company's nine-member board at Sunday's extraordinary general meeting (EGM), saying existing outside directors have failed to address years of inefficient capital allocation. The Yokohama-based firm defended its current board, telling Reuters in a statement that the independence of its outside directors "has been ensured with no conflict of interests with shareholders. JSF has a statutory nomination committee, but Strategic Capital said its inaction over the troubled practice shows the committee is dysfunctional.

☆ India's Tata Motors to delist American Depositary Shares from January
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Nov 9 (Reuters) - Indian automaker Tata Motors (TAMO.NS) said on Wednesday it plans to delist its American Depositary Shares (ADS) from January, roughly around 18 years since they first started trading. Tata Motors's stock remains listed on the BSE and the National Stock Exchange of India. ADSs are U.S. dollar-denominated shares of a non-U.S.-based company that trade on U.S. stock exchanges. Tata Motors' ADSs were first issued in 2004. Reporting by Chris Thomas in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

While stock market holidays also apply to the bond market, the bond market's early closures differ. We've included a list of holidays that the stock market and bond market are closed, as well as a list of days each market has early closures. Editor's Rating 4.2/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Editor's Rating 4.65/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Editor's Rating 4.11/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Learn more On Wealthfront's website Learn more On SoFi's website Learn more On Acorns' websiteIs the stock market open on Diwali? ET) May 29, 2022 Memorial Day May 30, 2022 Juneteenth Holiday June 30, 2022 Day before Independence Day (closes at 2 p.m. ET) July 3, 2022 Independence Day July 4, 2022 Labor Day September 5, 2022 Indigenous Peoples' Day/Columbus Day October 10, 2022 Veterans Day November 11, 2022 Day before Thanksgiving Day (closes at 2 p.m.

☆ Chinese Stock Traders Told Not to Disrupt Market Around Communist Party Meeting
▼ + stars: | 2022-10-21 | by ( Rebecca Feng | ) www.wsj.com time to read: 1 min

Chinese stock exchange officials told brokers and fund managers in the country not to sell large blocks of shares around the Communist Party’s National Congress this week, according to people familiar with the matter. The move was designed to reduce market volatility around the all-important political meeting, which began on Oct. 16. The Chinese Communist Party is nearing the end of its week-long gathering of senior officials, during which Chinese President Xi Jinping is widely expected to secure a convention-defying third term as party chief.

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