The yen weakened against major currencies after the Bank of Japan maintained its cautious stance on future interest rate hikes, despite a recent quarter-point increase. Officials expressed concern over sharp currency movements and hinted at potential intervention, but markets remained unimpressed by the lack of hawkish signals.
Asian equities opened higher, mirroring gains in US stocks and fueling hopes for a year-end rally. Investors are closely watching China's loan prime rates and upcoming economic data from the UK, US, and Japan for clues on central bank policy. Meanwhile, oil prices climbed amid US actions in Venezuela, and Bitcoin and silver saw modest gains.
India's hotel sector anticipates a strong rebound in the latter half of the fiscal year. Average room rates are expected to drive growth, with revenue per available room projected to increase. Key hotel stocks like Chalet Hotels, Indian Hotels, and Lemon Tree Hotels show promising upside. Major events and conferences will boost demand, particularly in cities like Mumbai.
Non-banking financial companies (NBFCs) like Tata Capital, JM Financial Credit Solutions, Aditya Birla Capital, and Hero Fincorp have collectively invested around 1,300 crore in Vodafone Idea's recent bond sale. This demonstrates a growing appetite among NBFCs and mutual funds for higher yields, even as banks face exposure limits. The funds will support Vodafone Idea's capital expenditure and business growth plans.
Silver's record-breaking rally continues, driven by strong investor demand and supply pressures, with analysts predicting a further 20% surge in early 2026. Tight physical supply in key markets, coupled with rising ETF investments and increasing industrial demand, are pushing prices higher. China's potential export restrictions could further tighten the market.
State Bank of India chairman CS Setty anticipates corporate investment will resume as consumption stabilizes. The bank projects India's economy to grow over 7.5% in FY27. SBI aims to avoid equity dilution for the next five years and targets becoming the first bank to achieve 1 lakh crore in annual net profit.
