April 1, 2019 / 3:42 AM / in a year

Morning News Call - India, April 1

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    5:00 pm: Government to release February Infrastructure output data in New
    GMF: John Noonan, Head of IFR FX Watch Asia, analyses cues and views for
market moves for the month ahead at 0930 IST. To join the conversation, click on
the link: here
    Pilots of India's Jet Airways defer strike, seek salary dues by April 14
The pilots' union of India's troubled Jet Airways said on Sunday it will give
the carrier's new management two weeks to clear unpaid salaries, deferring its
plan to take strike action.

    London court told of death threat as denies Indian billionaire bail
Fugitive billionaire jeweller Nirav Modi was denied bail in a London court on
Friday, following his arrest last week on charges over his alleged involvement
in a $2 billion fraud at India's state-run Punjab National Bank.
    India's trade ministry proposes delaying retaliatory tariffs on U.S. goods
India's trade ministry has proposed that the government delays by a month the
imposition of retaliatory tariffs on some U.S. goods that were due to go into
effect from April 1, a trade ministry spokeswoman told Reuters on Friday.

    Nippon Steel to bolster overseas business, focus on India
Japan's Nippon Steel Corp, is set to bolster overseas operations, especially in
fast-growing India, to bypass growing nationalism and capitalize on growth
abroad as it faces shrinking demand at home.
    China will continue to suspend extra tariffs on U.S. vehicles, auto parts
China's State Council said on Sunday that the country would continue to suspend
additional tariffs on U.S. vehicles and auto parts after April 1, in a goodwill
gesture following a U.S. decision to delay tariff hikes on Chinese imports.

    China manufacturing returns to growth in March - Caixin PMI
China's manufacturing sector unexpectedly returned to growth for the first time
in four months in March, in a sign that government stimulus measures may be
slowly gaining traction, a private business survey showed.
    Trump aides repeat threat to shut down U.S.-Mexico border over migrant issue
The Trump administration on Sunday doubled down on its threat to shut down the
southern border with Mexico, a day after it cut aid to Central American
countries that President Donald Trump accused of deliberately sending migrants
to the United States.

    • U.S. stocks ended the final trading day of the first quarter on a strong
note on Friday and the S&P 500 posted its best quarterly gain since 2009,
boosted by optimism over the latest round of trade talks between the United
States and China.
    • Asian stocks rallied as positive Chinese factory gauges and signs of
progress in Sino-U.S. trade talks supported sentiment, although another defeat
for British Prime Minister Theresa May's proposed Brexit deal added to
sterling's woes.
    • A surprise improvement in Chinese factory activity supported the yuan and
Australian dollar, and provided a broader boost to global investor confidence,
helping the dollar gain against the safe-haven yen.
    •  U.S. Treasury yields rose on Friday as risk sentiment improved into
quarter-end, boosting stocks and reducing demand for safe haven bonds.
    • Oil prices rose, adding to gains in the first quarter when the major
benchmarks posted their biggest increases in nearly a decade, as concerns about
supplies outweigh fears of a slowing global economy.
    • Gold prices inched down as investor appetite for riskier assets improved
on signs of progress in Sino-U.S. trade negotiations and better-than-expected
Chinese economic data.
                   CLOSE        FII INVESTMENTS  EQUITIES    DEBT
 PNDF spot         69.15/69.18  March 29         $12.46 mln  -$75.24 mln
 10-yr bond yield  7.35 pct     Month-to-date    $4.77 bln   $1.72 bln
                                Year-to-date     $6.85 bln   -$448.73 mln
    For additional data:
    India govt bond market volumes                 
    Stock market reports                
    Non-deliverable forwards data              
    Corporate debt stories               [IN CORPD]
    Local market closing/intraday levels [IN SNAPSHOT]
    Monthly inflows                      [INFLOWS RTRS TABLE IN]

($1 = 69.1800 Indian rupees)

 (Compiled by Avina Ajit in Bengaluru)
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