SHANGHAI: China stocks edged up on Friday to end the week higher, as expectations that Beijing would take necessary measures to underpin the world's second-largest economy overshadowed concerns over escalating Sino-U.S. tensions. At the close, the Shanghai Composite index was up 0.22% at 2,852.35, while the blue-chip CSI300 index was up 0.27%. For the week, SSEC and CSI300 gained 1.4% and 1.1%, respectively. China has room to stimulate an economy trying to recover in the wake of the coronavirus pandemic, but the government does not want to open the "floodgates", Premier Li Keqiang said on Thursday at the end of the annual meeting of parliament. "We have reserved policy room. Be it fiscal, finance, or social security," Li said. China's factory activity likely rose for a third straight month in May as the economy recovered from strict lockdowns implemented to contain the coronavirus outbreak, which has hammered global business activity. Leading the gains for the week, the … [Read more...] about China stocks end higher as stimulus hopes offset Sino-US worries
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In Shaw's era, the miners were fighting for a seven-hour working day instead of eight. These days, we are engaged in larger-scale psychological battles. Can we afford to turn our phones to airplane mode as we sleep? What if we miss an important notification and get stuck on the lower rungs of the corporate ladder? … [Read more...] about Is capitalism a runaway car veering off a cliff?
Mumbai: Muthoot Capital Services, a part of the diversified Muthoot Pappachan Group, has reported 40 per cent decline in net profit at Rs 13.6 crore for March quarter due to the problems plaguing the auto sector. It logged a profit of Rs 22.7 crore in January-March, 2018-19, according to a company statement. The Kerala-based company is primarily into two-wheeler financing. It reported an income of Rs 146.8 crore during the quarter under review, up from Rs 137.2 crore in the year-ago same period. The company attributed the poor set of numbers primarily to the troubles in the auto industry arising from the switchover to BS-VI emission norms and also the disruptions caused by the COVID-19 pandemic in the last 15 days of the quarter. The total disbursements of loans stood at Rs 347.5 crore during the quarter, taking the total assets under management to Rs 2,650 crore, which includes the assigned portfolio of Rs 52.3 crore. In March quarter 2019, the company had a total disbursement … [Read more...] about Muthoot Capital Q4 results: Net profit falls 40% to Rs 14 crore on auto sector woes
The key question now is whether consumption will rebound soon. Rather unexpectedly, India’s gross inequalities may help support consumption, in spite of much pain at the bottom of the pyramid. In any case, migrant workers and their ilk aren’t really the consuming classes, although their absence from the cities could push up wage costs. … [Read more...] about Moneycontrol Pro Weekender | Mr Market puts on his rose-tinted glasses
"Markets have closed on a positive note, after a volatile day of trade, in anticipation of GDP data due out later today. Global cues also were negative, following heightened US-China diplomatic issues, which offset stimulus news and economies opening up," Vinod Nair- Head of Research at Geojit Financial Services said. … [Read more...] about Taking Stock: Volatile Friday! Nifty reclaims 9,500; Sensex rallies over 200 points