China approved a decision to go forward with national security legislation for Hong Kong, which could erode the city’s freedom and jeopardise its role as a financial hub. India said it has recorded a total 1,65,799 cases while 4,706 people have died.
Hong Kong
PNB Fraud: Nirav Modi’s Assets, Valuables worth Rs 255 cr Seized by Enforcement Directorate in Hong Kong
The Enforcement Directorate has attached absconding jeweller Nirav Modi’s assets and valuable worth Rs 255 crore in Hong Kong in connection with $2 billiion alleged fraud in Punjab National Bank.
Bears Embrace Asia as Stock Benchmark Sinks 20% From Record High
Asia’s main equity gauge is poised to succumb, joining four major regional benchmark indexes into bear-market territory. the MSCI Asia Pacific Index slipped 0.5 percent to 149.68 as of 10:10 a.m. in Hong Kong, taking its slump from a Jan. 26 peak to 20 percent.
How Does Gold Impact the Indian Economy?
India’s gold market is driven primarily by the consumption and fabrication of the yellow metal. Both have a significant impact in terms of economic value add, employment, contribution to foreign exchange earnings, and the trade balance. A report commissioned by the World Gold Council from PricewaterhouseCoopers estimated that gold made a direct contribution of more than $30 billion to the Indian economy.
Nikkei Hits 27 Year High on Strong Dollar, Wall Street Gains
Japan’s Nikkei hit a 27-year high on Friday, taking heart from a boost for the dollar after the Federal Reserve chairman said he did not expect a near-term recession, and strong gains on Wall Street overnight.
Futures Signaled Losses for Stock Indexes in Japan
Gold Silver Reports (GSR) – Futures signaled losses for stock indexes in Japan, Hong Kong and South Korea after the S&P 500 Index followed European bourses lower. Reports that the U.S. Treasury will propose limits on Chinese technology investment damped sentiment, though stocks did recoup some losses as National Trade Council Director Peter Navarro said there were no plans to impose restrictions. The dollar weakened and 10-year Treasury yields fell to the lowest in more than three weeks.
Big Event for Metal LME – Asia and World Cuses – LME Asia Week 2018 Events
Gold Silver Reports (GSR) – Big Event for Metal LME – Asia and World Cuses – LME Asia Week 2018 Events, The London Metal Exchange, its parent Hong Kong Exchanges & Clearing, as well as industry participants are hosting various events, seminars and the annual black tie dinner.