The Hang Seng index, a barometer of Hong Kong's financial health, nosedived by 2.3%, closing at 20,174.92. Healthcare stocks were the star performers in the downward direction, with Alibaba Health and JD Health plummeting 8.2% and 6.1%, respectively.
The signing, announced on Sunday, comes amidst Marcos Jr.'s ambitious agenda for his six-year term, which prioritizes fiscal management and infrastructure upgrades.
The demand orders hail from Delhi, Uttar Pradesh, Andhra Pradesh, Bihar, Chattisgarh, Maharashtra, and Gujarat. While the specific details of the tax claims remain under wraps, the sheer size of the demand signals potentially significant differences in opinion between NTPC and the state tax authorities.
December 2023 saw the final au Jibun Bank Service purchasing managers' index (PMI) climb to 51.5, exceeding analyst expectations and marking a modest acceleration from November's 50.8.
At 3.9%, the year-on-year increase in the consumer price index (CPI) represented its slowest pace since February 2022 and marked the third consecutive month of decline. However, despite this welcome slowdown, economists and policymakers caution against celebrating prematurely.
The average daily orders placed on the platform soared by 28% to Rs 68.60 lakh in December, highlighting increased engagement and trading activity from its growing user base.
The au Jibun Bank Japan manufacturing purchasing managers' index (PMI) – a closely watched gauge of factory activity – plunged to 47.9 in December, down from 48.3 in November.
South Korea's benchmark Kospi index sank 1.8%, mirroring the anxieties gripping Wall Street and other major financial hubs. Down under, Australia's resource-heavy stocks couldn't escape the contagion, tumbling 1.1% as commodity prices remained under pressure.
Underscoring Asia’s relative resilience is the International Monetary Fund’s forecast of 4.6% growth in 2023 and 4.2% in 2024, exceeding the global projections of 3% and 2.9% respectively.
The impressive Q4 performance in Singapore was fueled by a revival in key sectors like construction and manufacturing.
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