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Stocks extend gains as large caps surge

The benchmark equity index maintained its upward momentum this week, extending its winning streak for a third consecutive week, as regulatory measures helped ease investor concerns amid ongoing macroeconomic uncertainty.The market rally was largely driven by fundamentally strong stocks, supported by favourable earnings reports. Moreover, news of a sovereign guarantee...

Higher sales, lower forex losses drive GPH Ispat to Tk 66m profit

GPH Ispat Ltd. posted a profit of nearly Tk 66 million in the first quarter (Q1) of FY25, bouncing back from losses in the same period last year, driven by higher sales and a significant reduction in foreign currency losses.The Chittagong-based manufacturer incurred a loss of Tk 164 million in...

Emerging market stocks see largest foreign monthly outflow since 2020

Foreign investors sold out of emerging market stocks in October by the most since the COVID-19 market sell-off in early 2020, but inflows to EM bonds and debt more than offset the outflow, data from a banking trade group showed on Friday, reports Reuters.The October monthly net total inflow of...

Wall St loses ground after Powell urges caution on rate cuts

Wall Street's main indexes tumbled on Friday after Federal Reserve Chair Jerome Powell said there was no need to rush interest-rate cuts, pushing up U.S. Treasury yields and pressuring equities.In a speech on Thursday, Powell pointed to ongoing economic growth, a solid job market, and inflation above the Fed's 2...

Ant Group's quarterly profit triples

SHANGHAI, Nov 15 (Reuters): China's Ant Group reported a 192.9 per cent rise in net profit to 7.59 billion yuan ($1.05 billion) in the three months to March 31, according to Reuters calculations based on Alibaba Group Holdings' earnings released on Friday.The e-commerce giant reports profit from Ant one quarter...

Asia markets mixed -

Asia markets were mixed Friday as Wall Street fell after US Federal Reserve Chair Jerome Powell indicated the central bank was in no rush to cut rates, with investors also assessing China and Japan economic data, reports CNBC.Hong Kong's Hang Seng index rose 0.04 per cent as of its last...