Markets surge in early trade mirroring sharp rally in global peers, drop in crude oil prices
In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng were trading sharply higher.
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Indian Express
an hour ago
- Indian Express
Domestic flight fares as low as Rs 1,499 with IndiGo's annual ‘Monsoon Sale' starting today
IndiGo, one of the largest Asian airlines, Tuesday announced its annual 'Monsoon Sale,' with domestic flight priced as low as Rs 1,499, and international flights priced at Rs 4,399. The limited-time sale also offers exclusive discounts on a range of add-ons opted by passengers travelling both on IndiGo's domestic and international flights. The sale is valid for bookings made between June 24 and June 29 for travel between July 1 and September 21 this year. While the sale is on, customers can book all-inclusive one-way domestic flights with fares starting at Rs 1,499, and international flights with fares from Rs 4,399. For added comfort and extra legroom at an exceptional value, passengers can choose IndiGoStretch provision while booking, with fares starting Rs 9,999. Besides opting for flights at a discounted price, travelers can also avail add-on services at upto 50 per cent off. Travelers can now enjoy upto 50 per cent off on pre-paid excess baggage for domestic flights, and on 15 kg, 20 kg, and 30 kg bag allowances for international flights. IndiGo is also offering upto 50 per cent off on its 'Fast Forward' service, which includes priority check-in and anytime boarding, on select domestic and international flights. Meanwhile, standard seat selection is available at prices as low as Rs 99 on select domestic and international flights. Emergency XL (Extra Legroom) seats are available on domestic flights at rates starting at Rs 500. Both 6E Prime and 6E Seat & Eat services on select domestic and international flights are also available at upto 30 per cent off. Lastly, domestic travellers can secure their bookings with a Zero Cancellation Plan starting at Rs 299.
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Business Standard
an hour ago
- Business Standard
Asian shares rally after Trump announces ceasefire between Israel, Iran
In Asia, Tokyo's Nikkei 225 rose 1 per cent to 38,756.00 and the Hang Seng in Hong Kong gained 1.7 per cent to 24,078.94 AP Bangkok Stocks rallied Tuesday after US President Donald Trump announced a ceasefire in the Israel-Iran conflict, although the situation remained unclear as attacks continued. Trump said Israel and Iran had agreed to a complete and total ceasefire soon after Iran launched limited missile attacks Monday on a US military base in Qatar, retaliating for the American bombing of its nuclear sites over the weekend. Uncertainty remained, with Israel not immediately confirming any ceasefire. It was unclear what the missile launches would do for the ceasefire's timeline. Trump's announcement on Truth Social said the ceasefire wouldn't begin until about midnight Tuesday, Eastern time. He said it would bring an Official END to the war. US futures advanced, as contracts for the S&P 500 and the Dow Jones Industrial Average gained 0.5 per cent. In Asia, Tokyo's Nikkei 225 rose 1 per cent to 38,756.00 and the Hang Seng in Hong Kong gained 1.7 per cent to 24,078.94. The Shanghai Composite index climbed 0.9 per cent to 3,411.92. In South Korea, the Kospi jumped 2.3 per cent to 3,082.90, while Australia's S&P/ASX 200 gained 0.9 per cent to 8,551.40. Oil prices fell further, after tumbling on Monday as fears subsided of an Iranian blockade of the Strait of Hormuz, a vital waterway for shipping crude. The price of oil initially jumped 6 per cent after trading began Sunday night, a signal of rising worries as investors got their first chance to react to the US bombings. But it quickly erased all those gains, with US benchmark crude falling 7.2 per cent. It dropped further early Tuesday, giving up 2.7 per cent to $66.67 per barrel. It had briefly topped $78. Brent crude, the international standard, shed 2.5 per cent early Tuesday to $69.68. US stocks rallied on Monday despite the United States' bunker-busting entry into its war with Israel. The S&P 500 climbed 1 per cent to 6,025.17 and the Dow industrials gained 0.9 per cent to 42,581.78. The Nasdaq composite index advanced 0.9 per cent to 19,630.97. That followed a week when stock prices had jumped up and down on worries about the conflict potentially escalating. Iran's retaliation appeared not to target the flow of oil. The fear throughout the Israel-Iran war has been that it could squeeze supplies, pumping up prices for crude, gasoline and other products. Back in the US, Treasury yields eased after a top Federal Reserve official said she would support cutting rates at the Fed's next meeting, as long as inflation pressures remain contained. Investors will be watching for Fed. Chair Jerome Powell's comments to the US Congress later Tuesday, analysts said. The yield on the 10-year Treasury fell to 4.33 per cent from 4.38 per cent late Friday. The two-year Treasury yield, which more closely tracks expectations for the Fed, dropped to 3.84 per cent from 3.90 per cent. The Federal Reserve has been hesitant to cut interest rates this year because it's waiting to see how much higher tariffs imposed by Trump will hurt the U.S. economy and raise inflation. Inflation has remained relatively tame recently, but higher oil and gasoline prices would push it higher. That could keep the Fed on hold because cuts to rates can fan inflation while they also give the economy a boost. On Wall Street, Elon Musk's Tesla was the single strongest force pushing the S&P 500 higher after jumping 8.2 per cent. The electric-vehicle company began a test run on Sunday of a small squad of self-driving cabs in Austin, Texas. It's something that Musk has long been touting and integral to Tesla's stock price being as high as it is. Hims & Hers Health tumbled 34.6 per cent after Novo Nordisk said it will no longer work with the company to sell its popular Wegovy obesity drug. Novo Nordisk's stock that trades in the United States fell 5.5 per cent. In currency dealings early Tuesday, the US dollar fell to 145.34 Japanese yen from 145.16 yen late Monday. The euro rose to $1.1604 from $1.1575. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Mint
2 hours ago
- Mint
Fiscal Jitters Return to Treasuries as Middle East Risks Ease
(Bloomberg) -- Bond investors are shifting their focus back to troubling questions about US fiscal risks, after a ceasefire between Israel and Iran cleared a stormcloud hanging over global markets. President Donald Trump's announcement of a ceasefire in the Middle East led to clear moves across markets on Tuesday, pushing stocks and risk-sensitive currencies like the Australian dollar higher while gold and the dollar fell. One outlier: Treasury yields, which barely budged as investors turned their attention back to a series of conflicting signals coming from the world's largest economy. 'De-escalation in the Middle East has eased near-term inflation concerns, but uncertainty from tariff risks and fiscal policy still lingers,' said Charu Chanana, chief investment strategist at Saxo Markets. The sense of uncertainty in the Treasury market underscores the dizzying calculations investors are being forced to make as they try to game out the impact of tariffs and the potential path for interest rates. Trump's proposed 'big beautiful bill', which is nearing a vote in the Senate, has added to concerns about the US fiscal deficit, while the trade war has fueled worries about inflation — both factors that should put upward pressure on yields. But some Federal Reserve officials are ramping up talk about sooner-than-expected rate cuts, which should pull yields lower. The net result: a holding pattern. US 10-year yields edged lower to 4.33% in Asian trading Tuesday, while 30-year yields declined a basis point to 4.86%. 'Investors are balancing concerns of higher inflation and a potential downturn, both stemming from a tariff policy that continues to evolve,' wrote Tim Ng, fixed income portfolio manager at Capital Group, which oversees more than $2.8 trillion. Bond traders are likely to keep their focus on the long-end of the curve, said Chanana, adding that longer tenor bonds are particularly vulnerable to fiscal stress, the budget reconciliation bill and tensions between Trump and Fed Chair Jerome Powell, who the president has criticized for not cutting interest rates. More immediately, investors will be scrutinizing Powell's testimony at the House Financial Services Committee on Tuesday, a chance for the market to get fresh clues on the direction of monetary policy. What Bloomberg Strategists Say... There's a strong chance Powell reiterates his post-FOMC comments that tariffs will have an impact at some stage this summer. Meaning the path for rates will remain unclear until policymakers get to see what the effect of the levies turns out to be. Garfield Reynolds, Markets Live strategist Higher yields mean funding pressure at a time when the US is borrowing more and government spending remains rampant. US 30-year yields touched an almost two-decade high of 5.15% last month. And as yields whipsaw, strategists warn some of the traditional anchors that once made Treasuries a bedrock of global bond portfolios are now looking increasingly fragile. 'The risk is that there's going to be a movement higher in yields on some sort of inflation shock or resetting of the outlook for the fiscal position in the US,' said Kerry Craig, global market strategist at JPMorgan Asset Management. More stories like this are available on
