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Stock Market Live Updates: Asian stock performance mixed amid Wall Street’s subdued session, eyes on jobs report for Fed policy clues

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tock Market today | Share Market Live Updates – Find here all the live updates related to Sensex, Nifty, BSE, NSE, share prices and Indian stock markets for 1 September 2023.

ALL UPDATES

  • September 01, 2023 07:25

    China’s central bank announces first reserve ratio cut in 2023 to counter Yuan depreciation

    China’s central bank said on Friday it will cut the amount of foreign exchange that financial institutions must hold as reserves for the first time this year, a move seen aimed at slowing the pace of recent yuan depreciation.

    The People’s Bank of China (PBOC) said it would cut the foreign exchange reserve requirement ratio (RRR) by 200 basis points (bps) to 4% from 6% beginning Sept. 15, according to an online statement.

    The move was to “improve financial institutions’ ability to use foreign exchange funds,” the PBOC said. – Reutters

  • September 01, 2023 07:20

    Japanese stocks recover from initial dip amid US job data anticipation

    Asian stocks showed a varied performance following a subdued session on Wall Street. Traders are anticipating Friday’s job report to assess the potential implications for Federal Reserve policy.

    Commencing the trading day with a dip, Japanese stocks swiftly regained ground and moved into positive territory on Friday. This shift occurred as investors anticipated significant US job data set to be released later in the day.

    During early trading, the benchmark Nikkei 225 index displayed a 0.53 percent increase, equating to 169 points, reaching 32,789. Simultaneously, the more extensive Topix index exhibited a rise of 0.82 per cent, amounting to 19 points, and stood at 2,350.

    The preceding night on Wall Street saw declines in both the Dow and S&P 500. Market participants analysed inflation figures and anticipated the forthcoming job data to glean insights into potential future changes in interest rates.

    The Dow concluded with a 0.5 per cent decrease, closing at 34,721.91, while the comprehensive S&P experienced a slight 0.2 per cent dip. In contrast, the technology-focused Nasdaq Composite Index made a marginal 0.1 per cent ascent.





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