Haque Specialized Group's News

Asian stocks edged lower on Wednesday after a strong start to the week due to profit-taking as investors lacked conviction to buy risky assets before a US policy meeting next week that may see interest rates rising for the second time in three months. MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.1 per cent in early trade, a day after posting its biggest single-day rise in more than two weeks. Japan and Australia led losers. The Federal Reserve has a policy meeting on March 14-15 and markets have quickly ratcheted up bets of a rate hike at the meeting after recent hawkish comments by US policymakers. Investors have rushed to buy stocks and emerging market debt this year as they had previously expected the Fed to raise rates only gradually and as recent data from Asia such as trade have surprised on the upside, cementing the view of recovering global momentum. But with valuations nearing the top of their historical trading ranges, some analysts are predicting investors will turn increasingly cautious. "While the global economy appears healthier, trade protectionism concerns remain well and truly alive and the situation is becoming more complex," said Philip Wee, a Singapore-based currency strategist at DBS. China's trade data due later on Wednesday may show export growth at multi-year highs boosted by recovering global demand. On Tuesday, key exporter Taiwan reported solid shipments for the first two months of 2017. While Asian stocks remain cheaper versus their US counterparts, they are approaching the upper end of a historical trading band on a price-to-earnings basis, according to Thomson Reuters data. Within Asia, Hong Kong stocks held firm propped up by the services sector and extended inflows from the Chinese mainland. Inflows into Hong Kong stocks from China via two stock connect schemes have crossed the $7 billion mark so far this year, outpacing ETF and active flows, Goldman Sachs said. Bond markets are also scenting a rate hike around the corner with 10-year US Treasury yields poised to break out of a three-month trading range. On Wednesday, it was at 2.54 per cent, compared with 2.49 per cent on Friday. That hasn't stopped investors from piling into Asian debt. An index measuring the yield of a basket of dollar-denominated bonds from Asian high grade companies held firm at 4.6 per cent. US stocks ended lower on Tuesday, putting the S&P 500 and the Dow Jones Industrial Average in their first consecutive sessions of decline in more than a month. E-mini futures were trading lower in Asia. "Unless the (US) February payrolls report due on March 10 is an unmitigated disaster, an outcome we do not expect, a March 15 hike is on the way," Societe Generale strategists said. Higher yields have brightened the dollar's outlook in recent days with the greenback changing hands at 113.91 Japanese yen, compared with 111.75 at end-February though the US outlook on rates will be a key driver in the coming days. Commodity markets painted a slightly more cautious picture with copper prices stabilising after recent sharp falls while oil prices stuck to recent trading ranges. Global benchmark Brent fell 0.6 per cent to $55.61 per barrel.  ....

Published at: 2017-03-08 00:00:04

Detectives arrested a man along with snake venom from Dhanmondi area in the city on Tuesday night, reports UNB. Tipped off, a team of Detective Branch (DB) of police conducted a drive in the area and arrested the unidentified man at night, said Masudur Rahman, deputy commissioner (media) of the Dhaka Metropolitan Police (DMP). The law enforcers also confiscated 12 pounds of snake venom worth approximately Tk 450 million (45 crore) from his possession, he added. Further details of the drive are still awaited.....

Published at: 2017-03-08 00:00:04

Ten-man Arsenal were knocked out of the Champions League at the last-16 stage for the seventh successive season following a second-half capitulation against Bayern Munich on Tuesday, reports BBC. A debated decision in the 53rd minute shattered any hopes of the Gunners becoming the first side in Champions League history to overturn a four-goal deficit, having also lost the first leg in Germany 5-1. They led through Theo Walcott's stunning 20th-minute goal, before Bayern were awarded a penalty that also resulted in the sending off of defender Laurent Koscielny. The France centre-back was initially shown a yellow card by referee Anastasios Sidiropoulos for his foul on Robert Lewandowski inside the area - but it was upgraded to a red once he decided Koscielny made no attempt to win the ball. Gunners boss Arsene Wenger looked perplexed by the sudden change of heart by the official. Lewandowski placed his spot-kick beyond the reach of David Ospina to give Bayern a 6-2 aggregate lead and effectively kill off the tie. The home side then folded as Bayern scored four goals in 17 minutes. Arjen Robben robbed Alexis Sanchez of the ball and beat Ospina, before Douglas Costa made it 3-1 with a stunning solo goal. Fellow midfielder Arturo Vidal grabbed a late double, first with an impudent chip before slotting in from Costa's square pass.....

Published at: 2017-03-08 00:00:04

The International Women's Day is being observed in the country, as elsewhere across the globe, today (Wednesday) with a slogan ‘Women in the Changing World of Work: Planet 50-50 by 2030’. The theme of this year's day is #BeBoldForChange - encouraging people to step up and take groundbreaking actions to help drive gender equality. It focuses on the slogan 'Women in the Changing World of Work: Planet 50-50 by 2030'. In different regions of the world, the focus of the celebrations ranges from general respect, appreciation to love towards women for their economic, political and social achievements. To mark the day, different organisations have chalked out various programmes, including rallies, discussions and cultural events with focus on equal rights of women. Meanwhile, President Abdul Hamid and Prime Minister Sheikh Hasina have issued separate messages on the occasion. In his message, the President said, "In Bangladesh, half of the total population is women. It's possible to change the country's overall scenario through ensuring gender equality in national development, which will help achieve the sustainable development goals." In her message, the Prime Minister urged all to build developed, prosperous Bangladesh ensuring women's participation in the mainstream of the national development establishing gender equality at workplaces, according to UNB report.....

Published at: 2017-03-08 00:00:04

US stock prices closed lower on Tuesday as weakness in drug and financial shares sent the S&P 500 and the Dow Jones Industrial Average to their first consecutive sessions of declines in more than a month. Pharmaceutical stocks came under pressure after US President Donald Trump tweeted he was working on a "new system" to reduce drug prices in the industry, without providing details. The S&P 500 healthcare index fell 0.7 per cent while the NYSE Arca pharmaceutical index declined 0.9 percent, its worst performance since Jan. 24. Financials, the best performing S&P sector since the November election, slipped 0.3 per cent, pulled lower by losses in Wells Fargo and JPMorgan. The Dow Jones Industrial Average fell 29.58 points, or 0.14 per cent, to 20,924.76, the S&P 500 lost 6.92 points, or 0.29 per cent, to 2,368.39. The Nasdaq Composite dropped 15.25 points, or 0.26 per cent, to 5,833.93. Newly minted shares of Snapchat owner Snap Inc plunged 9.8 per cent to $21.44 after analysts gave the company a lukewarm reception following its red-hot market debut, attracting short-sellers. Nimble Storage soared 46.3 per cent after Hewlett Packard Co said it would buy the data storage provider for $1.09 billion in cash. HPE's stock lost 1.1 per cent to $22.82. Dish Network closed up 4.5 per cent at $64 after S&P Dow Jones Indices said the satellite TV company will join the S&P 500 on March 13, replacing chipmaker Linear Technology Corp, according to Reuters.....

Published at: 2017-03-08 00:00:04