GLOBAL MARKETS-Wavering risk appetite after Manchester blast weighs on sterling, Asia stocks, lifts yen
* Sterling falls as police treat Manchester blast as terror attack
To access the newsletter, click on the link: here If you would like to receive this newsletter via email, please register at: here (India Morning Newsletter will not be published through the year-end holiday season from December 26, 2016 to December 30, 2016. Normal service will resume from January 2, 2017. Season's Greetings and Happy New Year.) FACTORS TO WATCH LIVECHAT-FX OUTLOOK Eddie Tofpik, head of FX at ADM Investor Services, shares his outlook for markets next year at 03:30 pm. To join the conversation, click on the link: here INDIA TOP NEWS ANALYSIS-Pain before gain for Indian banks after Modi's cash gamble India's shock move to abolish high-value banknotes was expected to deliver a windfall to lenders, and banks have indeed seen coffers swell after people deposited 12.4 trillion rupees in cash into the system. India appoints new army, air force and intelligence chiefs The Indian government has appointed new heads of its army and air force among a series of senior military and intelligence appointments, officials said, two weeks before its two most senior defence force chiefs are due to retire. India's Aurobindo shares hit 9-mth low on US price-fixing lawsuit Indian drugmaker Aurobindo Pharma Ltd's shares hit their lowest in more than nine months on Friday after the company was named in a lawsuit alleging it colluded with other drugmakers to fix prices of two commonly used drugs in the United States. China's OnePlus to make 3T phone in India from early 2017 China's OnePlus plans to make its 3T model in India from early next year to meet growing demand in the world's second-biggest smartphone market by users. Tata patriarch plays down talk of imminent exit from Tata Trusts Ratan Tata, patriarch of one of India's most prominent business families, played down reports on Friday that he would step down soon as chairman of Tata Trusts, the largest shareholder in the Tata conglomerate's holding company. India asks tax dodgers to come clean by March 2017 The Indian government said on Friday that tax-dodgers have until the end of March 2017 to come clean under a scheme announced by Finance Minister Arun Jaitley last month. INSIGHT-Indian PM's camp seeks support from unlikely quarter: Muslim women When Narendra Modi stood before faithful followers in October, on a stage swathed in the saffron colours of his Hindu nationalist movement, the Indian leader made an unexpected overture. China upset as Dalai Lama meets Indian president China expressed dissatisfaction on Friday after exiled Tibetan spiritual leader the Dalai Lama met Indian President Pranab Mukherjee, saying it hoped India would recognise the Nobel Peace Prize winning monk as a separatist in religious guise. GLOBAL TOP NEWS Gunmen burn buses, Aleppo convoy goes through Armed men burned five buses that were supposed to be used for an evacuation near Idlib in Syria on Sunday, stalling a deal to allow thousands to depart the last rebel pocket in Aleppo, where evacuees crammed into buses for hours before departing the city. Trump aide plays down prospect of upending 'one China' policy President-elect Donald Trump's incoming White House chief of staff on Sunday played down the prospect that Trump would revisit Washington's decades-old "one China" policy, even though he suggested as much a week ago. China November home prices rise 12.6 pct y/y, monthly growth halves Average new home prices in China's 70 major cities rose 12.6 percent in November from a year earlier, accelerating slightly from a 12.3 percent increase in October, an official survey showed. LOCAL MARKETS OUTLOOK (As reported by NewsRise) The SGX Nifty Futures were trading at 8,128.50, down 0.2 pct from its previous close. The Indian rupee will likely open slightly lower against the U.S. dollar amid expectations that weakness regional shares will rub off on local indices, even as trading volumes remain thin ahead of the holiday season. Indian government bonds will likely trade steady in the absence of fresh triggers, but the underlying sentiment remains bearish after the U.S. Federal Reserve increased its rate hike projections for 2017. The yield on the benchmark 6.97 pct bond maturing in 2026 is likely to trade in a 6.48 pct - 6.53 pct band. GLOBAL MARKETS U.S. stocks fell on Friday, weighed by a more than 4 percent drop in Oracle shares, while recently battered stocks in the real estate and utilities sectors posted the largest gains. Asian shares steadied after China agreed to return a U.S. drone it had seized, easing worries about rising diplomatic tensions between the world's two biggest economic powers. The dollar edged lower as some investors took profits after its rise last week to a 14-year peak against a currency basket, though it remained underpinned by expectations of more U.S. interest hikes in the coming year. U.S. long-dated Treasury debt yields edged higher on Friday, continuing a trend that has been in place for several weeks, with investors consolidating some positions ahead of what is expected to be a quiet holiday period for economic data. Oil prices inched up in anticipation of tighter crude supply going into 2017 following the decision by OPEC and other producers to cut output to prop up prices. Gold prices edged up, rising above the lowest level touched in 10-1/2 months the previous week, as the U.S. dollar slipped against a basket of currencies. CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 67.81/67.84 December 16 -$13.32 mln -$135.04 mln 10-yr bond yield 6.75 pct Month-to-date -$114.55 mln -$2.68 bln Year-to-date $4.04 bln -$5.82 bln For additional data: India govt bond market volumes Stock market reports Non-deliverable forwards data Corporate debt stories [IN CORPD] Local market closing/intraday levels [IN SNAPSHOT] Monthly inflows [INFLOWS RTRS TABLE IN] ($1 = 67.76 Indian rupees) (Compiled by Shradha Singh in Bengaluru)
* Sterling falls as police treat Manchester blast as terror attack
(Adds details, updates prices) By Rushil Dutta May 23 Asian currencies were subdued on Tuesday, with a suicide attack in Manchester dampening a mild resurgence in risk appetite, just as investors had begun looking past the political crisis still simmering in Washington. Meanwhile, the euro floated near a six-month high after German Chancellor Angela Merkel said the currency was too week, whereas the pound sagged on news of a blast at a concert in Britain's Manchester whi
DUBAI, May 23 Here are some factors that may affect Middle East stock markets on Tuesday. Reuters has not verified the press reports and does not vouch for their accuracy.