Stocks extend losses as investors await earnings
The benchmark equity index closed lower for a second consecutive week, as trading activity remained subdued with thin investor participation, reflecting growing caution ahead of the upcoming earnings season.Market analysts noted that institutional and high-net-worth investors have largely adopted a 'go-slow' approach amid mixed expectations for earnings of companies with...
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Global equity funds see a surge in weekly outflows
Investors divested equity funds on a large scale in the week to September 17 to lock in profits as an extended record-setting rally in global stocks amid an interest rate cut by the Federal Reserve raised investor caution around the stock market's lofty valuations, reports Reuters.Investors disinvested a net $38.66...
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Zijin Gold seeks $3.2b in Hong Kong IPO as demand for precious metal soars
China's Zijin Gold International, keen to make the most of bullish sentiment for the precious metal, is aiming to raise $3.2 billion in a Hong Kong IPO that is set to be the city's largest in four years, reports Reuters.Adding to a strong recovery for Hong Kong's equity capital market,...
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Asia-Pacific markets trade mostly higher
Asia-Pacific markets traded mostly higher on Friday as investors assessed the policy rate decision of the Bank of Japan, reports CNBC.Japan's benchmark Nikkei 225 index pared gains to fall 0.57%, after the Bank of Japan kept its policy rate steady at 0.5%, in line with the forecast from a Reuters...
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Netskope fetches $8.8b valuation as shares jump in Nasdaq debut
Cybersecurity firm Netskope commanded an $8.79 billion valuation as its shares jumped 21% in their Nasdaq debut on Thursday, adding to a string of successful tech IPOs this year, reports Reuters.The Santa Clara, California-based company's shares opened at $23 apiece, well above the $19 offer price. Netskope raised $908.2 million...
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