Briefing 11-05-2022

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FE Team | Published: May 11, 2022 00:01:47

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Stocks fall after two-day rise
Stocks slipped into the red on Tuesday, snapping a two-day gaining streak, as the risk-averse investors opted for booking profit on quick-gaining issues in the final hour. Following the previous two days' gain, the market opened higher and the key index rose about 29 points within the 30 minutes of trading. But late hour sale pressure wiped out the early gains, eventually ending over 32 points lower. Page 9
‘Trade nukes for financial aid’
South Korea's new leader Yoon Suk-yeol on Tuesday called on the North to give up its nuclear weapons in exchange for massive economic aid, describing Pyongyang's missiles as a threat to regional and global security. Yoon, 61, who started work in an underground bunker with a briefing on North Korea, takes office at a time of high tensions on the peninsula, with Pyongyang conducting a record 15 weapons tests since January, including two launches last week. Page 19
Asian stocks fall on Wall Street rout
Asian equities mostly sank Tuesday and oil prices tumbled following a rout on Wall Street as anxieties were fanned over rising US interest rates, surging inflation and the impact of China's prolonged Covid lockdowns. Page 20
BD ‘lucrative apparel sourcing hub’
With improved safety, compliance and Covid-recovery situation, Bangladesh has been a lucrative destination for global apparel buyers and retailers. The local readymade garment industry has also enhanced its production base in the last one decade, especially after the Rana Plaza building collapse, luring the buyers to place more work orders. Page 21