China has halved stock trading stamp duty, loosened margin loan rules, put the brakes on new listings and approved new retail funds in recent days -- signalling, at least, resolve to steady the market even if it does little to support the sputtering economy.
Goldman Sachs gained 1.8% after the lender struck a deal to sell an investment advisory business to wealth management firm Creative Planning LLC.
While inflation has come down from its peak, Powell said, it still remains high and policymakers would "proceed carefully" in deciding further interest rate moves.
Jackson Hole meeting: The Fed chief is unlikely to indicate that the rate hiking cycle is coming to an end, said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
US yields stabilised below 14-year highs. Crude oil found its footing around one-month lows, but remained on course for a second weekly decline amid a firmer dollar and simmering China-centred worries about global growth.
Early in the Asian trading day, MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.7%, also lifted by Nvidia's bullish outlook.
Nvidia gains ahead of quarterly results; Peloton drops on missing positive cash-flow target
Axis Securities is betting on Lupin, Cipla and Aurobindo Pharma with up to 19 per cent upside potential.
Higher rates in Japan pushed the U.S. 10-year yield over 4% and reduced the attractiveness of stocks.
Besides property developers, borrowers thronging private markets include privately-held companies and start-ups whose private equity issuance has been stymied by broader stock market swings and the deepening discounts of their valuations, known as a 'down round' in the industry.
The Activision investment was a form of arbitrage, with Buffett viewing investors as too pessimistic that regulators would approve combining Microsoft's Xbox gaming console business with the publisher of the "Call of Duty" and "Candy Crush" franchises.
The economic recovery has lost momentum after an initial burst in the first quarter, prompting monetary authorities to lower key policy rates last month.
Investors are anxious to see if price pressures are continuing to moderate. That could shed light on the interest rate outlook, with many traders expecting the Fed to raise interest rates by 25 basis points this month.
"It's not unusual to get a yield curve inversion but it is unusual to get one of this magnitude. We haven't seen one like this in quite a while," said Brian Jacobsen, senior investment strategist at Allspring Global Investments.
"You have got a lot of people that are just not in the market today," said Chuck Carlson, chief executive at Horizon Investment Services in Hammond, Indiana. "Nobody is really placing any big bets on either side of the market right now."
Nifty Bank looks choppy and non-directional for the time being until 42,780 or 44,500 is taken out.
US Fed policy announcement: Manish Chowdhury Head of Research at Stoxbox said the calls for a rate pause have got louder following a sharp slowdown in consumer price inflation released this week.
A bill to lift the $31.4 trillion U.S. debt ceiling and achieve new federal spending cuts made its way to the House of Representatives for debate on Tuesday
US crude dropped 1.33% to settle at $71.86 per barrel, while Brent settled down $1.10, or 1.43%, at $75.97.
China shares fell 0.61%, while Hong Kong's Hang Seng index dropped as much as 1.8%, dragged down by tech stocks after Alibaba Group Holding Ltd, reported a lower-than-expected 2% rise in quarterly revenue.
MSCI's broadest index of Asia-Pacific shares outside Japan was 0.16% lower, while Japan's Nikkei bucked the trend with a gain of 0.5%, building on the optimism from last week during the earnings season.
Copyright©2023 Living Media India Limited. For reprint rights: Syndications Today