Companies could spring some surprises in the March quarter led by commodities related, cement and automotive companies, said Raamdeo Agrawal, joint managing director, Motilal Oswal Financial Services. In an interview to ET, Agrawal said he is bullish on IT, pharma, auto, private banks and consumer companies. Edited excerpts: What's your assessment of global risk and its impact on India? There are problems related to trade and financial flows. Strengthening of the dollar or yuan devaluation will pose some challenges to us.
China is stockpiling oil for its strategic petroleum reserve at a record pace, intervening on a scale large enough to send a powerful pulse through the world crude market.
The move comes as tensions mount in the South China Sea and the West prepares possible oil sanctions against Russia over the crisis in eastern Ukraine. Analysts believe China is quietly building up buffers against a possible spike in oil prices or disruptions in supply.
Mounting concerns from emerging markets have caused uncertainty in the stock markets. As Chinese stocks dropped, bank investors in the US remain concerned.
The sell-off in markets was sparked after reports indicated slowing growth in Chinese economy as its currency hit lowest levels in months. The situation worsened after reports indicated that the central bank of China might let its currency fall to further lows.
HONG KONG (Reuters) - China's mass consumer, health care and non-banking financial counters may well be the early winners in the country's stock markets this week after Beijing promised the most sweeping economic and social reforms in nearly three decades.
While China's housing market problems are similar in scale to those faced during the U.S. subprime mortgage bubble and its banks are rife with bad loans, it won't lead to another Lehman-style crash, Franklin Templeton's Mark Mobius told CNBC on Monday. Mobius said the similarities could not be denied but since Chinese banks are owned by the government, they will not be allowed to fail.
Last night's bad PMI number seems to have been the tipping point in a recent build up of bad Chinese data that came in last month. This morning, the Nikkei fell by 7.3%, and markets around Europe are down as well.
Yesterday, as we reported, in a surprisingly scathing report, Goldman announced that it was now positioning for an "imminent" two year real estate property downturn, which has significant probability of becoming a hard landing as many others, most notably Barclays in recent days, have pointed out.
The Huffington Post asked me to write a quasi-review of the new Simon Johnson and James Kwak book, 13 Bankers. I also am allowed to cross-post it with a lag, so here it is (the original source is here, with HP comments, since it is me thre is no point in indenting the whole thing):