Fri, Nov 8, 2024 3:08 PM
FPI Sell-off: Financials, Oil & Gas, Auto sectors lead October FPI exodus
A Flip by Shubhangi Gupta
Chinese stocks and the yuan declined after authorities announced a 6 trillion yuan program to refinance local government debt, with futures on the FTSE China A50 Index plunging 5% and the yuan sinking 0.6% in offshore trading, signaling investors were unimpressed with the latest attempt to support the economy.
Open Flip
Bond traders have a long weekend ahead of them. Stock traders? Not so much. Bond market will close on Monday in observance of Veterans Day. Wall Street, however, will be open on Monday, with the stock market open for a regular session. The stock market will also close early on the day after Thanksgiving and Christmas Eve, while bond markets will close early on those same days and New Year's Eve.
Open Flip
European clean energy stocks plummeted after Donald Trump's presidential win, with shares of Ørsted, Vestas, and Nordex declining 14%, 11%, and 7.6%, respectively, due to concerns over Trump's promises to halt offshore wind projects and roll back climate regulations. European utilities face uncertainty in the US renewables market, a crucial growth area.
Open Flip
